13th The Friday!!!

Hello everyone,

History says 13th the Friday is a day where markets fall most of the time.

13 Dec 2013 - 47

13 Jun 2014 - 136

13 Feb 2015 - 76

13 Mar 2015 - 202

13 Nov 2015 - 13

13 May 2016 - 100

13 Jan 2017 - 88

13 Oct 2017 - Nifty???

So let's check whether history repeats or not.

Regards,

Mayur Shah.

Belt hold on daily chart!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 10035 (-5 Points)

Markets yesterday on daily chart created a Belt Hold Pattern followed by Bearish Engulfing line and a break below 10000 – 9990 will open doors for 9950 – 9900 levels with resistance can be seen @ 10090 - 10150

Bias will change to Negative if Nifty sustain below 10000.

Areas to watch out
Supports @ 10000 - 9940 – 9900 – 9850 - 9790
Resistance @ 10090 - 10150.

Regards,Mayur Shah.

Dark Cloud cover!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 9904 (+8 Points)

Nifty on hourly charts took resistance of Super Trend @ 9916 and closed @ 9870. Also on daily chart its gave a bearish candlestick pattern – Dark Cloud cover with RSI Candle divergence and a break below 9860 – 9850 will be negative for markets.

Bias will be wait and watch.

Areas to watch out

Supports @ 9850 - 9830 – 9800 - 9770 – 9700 – 9640 - 9580

Resistance @ 9900 - 9930 - 9950

Regards,

Mayur Shah.

Bulls are in party mood!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 9878 (+42 Points)

Day before yesterday there was a week signal on daily chart – Bearish Shooting star, yesterday prices dint broke low of the Shooting star and bounced back till 9824 and looks like the journey on upside will continue as SGX Nifty is trading 42 points up.

Bias remains positive and buy on dips will be advisable.

Areas to watch out
Supports @ 9770 – 9700 – 9640 - 9580
Resistance @ 9850 – 9900

Regards,
Mayur Shah.

Shooting Star @ top!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 9807 (+13.5 Points)

Nifty touched all time high of 9830 and closed @ 9786 yesterday, on Daily charts Nifty gave a Bearish Shooting star – candlestick pattern and a break below 9780 – 9770 will be negative for markets in near term with supports nearby 9700 – 9640.

Bias will change to Negative if Nifty sustain below 9780 - 9770 levels.

Areas to watch out

Supports @ 9770 – 9700 – 9640 - 9580

Resistance @ 9830 – 9850 – 9900

Regards,

Mayur Shah.

Classic -ve Divergence at Upper Channel!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 9697 (+3 Points)

Markets are trading at a upper channel resistance on hourly chart(Refer the image), also it has given a Classic Negative Divergence at channel resistance and break below 9660-9650 will lead Nifty towards lower channel support.

Areas to watch out
Supports @ 9630 - 9600 - 9570 - 9550 – 9520
Resistance @ 9700 - 9750

Regards,
Mayur Shah.

Its friday!!!

Hi All,

Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 9671 (+38 Points)

Nifty went below 9600 levels yesterday but could not sustain below it and bounced back till 9621 and closed @ 9616.

Markets may open positive and may touch all time high that’s what SGX Nifty is suggesting and then we have see whether is sustains above 9650 – 9660 levels or not. Today’s closing will be important for markets going ahead if it closes above 9650 then we can expect new highs in the coming week and if it closes below 9590 – 9580 then there will be weakness in the up move.

Areas to watch out

Supports @ 9600 - 9580 - 9550 – 9520

Resistance @ 9650 - 9700

Regards,

Mayur Shah.