Classic Positive Divergence!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8052 (-25 Points).

Nifty was trading flat throughout the day but in last one hour Nifty went below 8060 gave a low of 8053 and closed above 8061.

Nifty is trading @ daily support area of 8085 – 8050, on hourly charts it has given a Positive Classic Divergence which will trigger when Nifty breaks 8110 – 8120 levels with next resistance will be around 8200 – 8230 and supports @ 8050 – 8030.

Areas to watch out

Supports @ 8050 – 8030 - 8000

Resistance @ 8110 - 8135 - 8160 - 8230 - 8250 - 8280

Bias will change to positive if Nifty sustains above 8110 – 8140 levels.

Regards,

Mayur Shah.

Volatility to continue!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8096 (-17 Points).

Nifty touched 8250 last week but dint sustain above it and gave a weekly closing @ 8086. On weekly chart after a Hammer there a Huge selling pressure candle which occurred last week.

Going ahead If Nifty has to move up then it has to close above 8250 - 8300 levels else markets will not sustain at higher levels.

The Indian market is likely to be cautious as global markets start the week on a cautious note post Italian vote referendum.

Markets are likely to be volatile this month as RBI Quarterly monetary policy is on 7th December and then FED meeting.

Areas to watch out

Supports @ 8050 – 8000 – 7950 - 7920

Resistance @ 8160 - 8200 - 8250 – 8300 – 8320 - 8400

Bias will be wait and watch for proper indication on charts.

Regards,

Mayur Shah.

Hammer on bears!!!

Hi All,

 

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8083(-19.50 Points).

On Friday Nifty closed 148 points high and Nifty managed to closed above 8100. After a series on Negative closing Nifty finally gave a hope for bulls.

On weekly charts Nifty gave a Hammer with Positive Candle Divergence which will triggered when Nifty goes above 8120 – 8130 mark with resistance nearby 8200 – 8270 – 8300 and supports nearby 7920 – 7900.

Areas to watch out

Supports @ 7920 – 7900 – 7850 - 7800

Resistance @ 8130 - 8200 - 8270

Bias will change to positive for Short term if Nifty breaks 8120 – 8130 and stay above it.

Regards,

Mayur Shah.

RAY OF HOPE - BULLS!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8224 (+109 Points)

Yesterday Nifty opened marginally lower and then we saw a huge sell off which lead Nifty to touch 8100 and closed above 8100 levels.

On hourly charts Nifty showed some relief to bulls – Classic Positive Divergence which will triggered when Nifty breaks 8200 – 8230 levels with Next resistance can be seen nearby 8270 – 8350 – 8400. Since IV is near about 20% we can expect huge volatility in the near team.

Areas to watch out
Supports @ 8100 – 8070 - 8000
Resistance @ 8230 – 8270 – 8300 - 8350

Bias will change to Positive if Nifty sustains above 8200 – 8230 for short term.

Trade with Strict stoploss and with Proper Money Management.

Regards
Mayur Shah.

Recovery time!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8498 (+44 Points).

Markets have recovered sharply from the lows of 8000 amid of Trump Win & Black Money curb. Yesterday Nifty saw a huge Intraday recovery of 430 points and looks like it will continue its upward journey and a weekly close above 8500 – 8600 will lead Nifty towards 8800 – 9000 levels in near team.

Areas to watch out

Supports @ 8390 – 8290 - 8170

Resistance @ 8550 – 8600 – 8630 - 8660

Bias remains positive and buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Divergence @ Gap Support!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8512 (+67 Points).

Markets broke all crucial levels last week 8500 - 8450 and touched 8400 on Friday and bounce sharply from 8400 and gave a close above 8430.

On hourly chart Classic Positive Divergence in occurred which will triggered when Nifty breaks 8470-8480 with resistance can be seen nearby 8550 - 8620 with supports nearby 8400 - 8350(Daily gap up support).

Areas to watch out
Supports @ 8400 – 8350 - 8280
Resistance @ 8550 – 8600 – 8630 - 8660

Bias will change to positive if Nifty breaks 8470-8480 for short term.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur Shah.

Wait and watch!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8492 (-27 Points).

Nifty continue its southward journey, yesterday Nifty was struggling 8530 - 8550 resistance and in the second half if went below 8500 mark and closed @ 8484.

Areas to watch out

Supports @ 8470 – 8410 - 8350

Resistance @ 8550 – 8600 – 8630 - 8660

Bias remains negative with wait and watch for proper signals.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Classic Positive Divergence!!!

Hi All,

Markets are likely to open on a flat to Negative note tracking global markets, SGX Nifty is trading @ 8518 (-20 Points).

Yesterday it opened below 8550 and traded below it throughout the day, it created a low of 8504.85 and close @ 8518. We can say that Nifty might take support @ 8500 (Physiological Support level).

Also on Hourly Chart Nifty gave a Classic Positive Divergence and a break above 8550 – 8555 will be positive for Nifty with
Resistance can be seen nearby 8600 – 8630 – 8660 and supports @ 8500 – 8480.

Areas to watch out
Supports @ 8500 – 8460 - 8400
Resistance @ 8550 – 8600 – 8630 - 8660

Bias will change to Positive if Nifty breaks 8550-8555 and stays above it for short term.

Trade with Strict stoploss and with Proper Money Management.
Regards,

Mayur Shah.

Bearish Engulfing candlestick pattern!!!

Hi All,

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @  8786 (+15 Points)

Nifty yesterday went above 8800 but was unable to sustain above 8800 and came down to 8736 and then traded in a range throughout the day – 8735-8765.

On daily charts Nifty gave a Bearish Engulfing candlestick pattern on daily charts @ a daily gap down resistance of 8810 – 8822.  On hourly charts Nifty is gave a candle divergence and a break below 8730 – 8720 will be Negative for Nifty in short term with Support can be seen at 8640 – 8600 – 8550 and resistance nearby 8800 - 8820.

Areas to watch out

Supports @  8730 – 8690 - 8640

Resistance @  8800 – 8830 - 8870.

Bias will changed to Negative if Nifty breaks 8730 – 8700 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

All fall down!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8592 (-51 Points)

Indian shares, bonds and rupee fell sharply on Thursday after India attacked suspected militants in Pakistan, raising political tensions just days before the central bank is set to hold a policy review. The S&P BSE Sensex and CNX Nifty fell 1.64%-1.76%.

Yesterday Nifty opened positive but took resistance of Super Trend @ 8790 – 8800 and came down drastically till next area of support of 8570 – 8520 and closed above 8590.

As said in the last update that the view will change to Negative if Nifty breaks 8680 – 8640 levels, Yesterday Nifty broke 8680 – 8640 and even 8600 levels forming a Big Bearish Candle on daily chart with Super Trend change to Negative and Yesterday’s candle closed below lower Bollinger band which is sign of worry going ahead.

Looking at the Monthly chart, Today closing is important, If Nifty closes below 8550 – 8500 levels then Medium Term trend (3-5 months) will be bearish.

Areas to watch out

Supports @ 8570 – 8520 - 8470

Resistance @ 8600 – 8670 – 8700 – 8760.

Bias changed to Negative and sell on RISE will be the strategy to be trade on.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

+ve Classic Divergence!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @  8703 (-20 Points)

On Hourly charts Nifty is now trading in an oversold area and trading at a basing area support of 8750 – 8680, Also there is a Classic Positive Divergence on hourly charts which will trigger when Nifty breaks 8760-8780 levels with Supports nearby 8680 – 8640.  

Areas to watch out

Supports @  8680 – 8640 - 8600

Resistance @  8780 – 8810 - 8830

Bias will change to Positive if Nifty breaks 8760 – 8780 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Gap up Opening!!!

Hi All,
Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 8821 (+43 Points)
As said in the last update that a break above 8740-8745 will be positive for markets, Yesterday it went above 8740-8745 created a high of 8751 and today’s opening look like it will be nearby 8780-8790 mark.

Today’s closing is important for Markets, if it closes above 8820 – 8830 then it will positive for markets and if it closes below 8700 – 8680 then Negativity to continue.
On hourly charts Super Trend resistance is @ 8780 – 8790 mark, so we have to wait and watch for 1-2 hours. If Nifty hourly candle closes above 8790 then the movement will continue and if it fails to close above 8780 -8790 then we may see sell off in second half.
Areas to watch out
Supports @ 8680 – 8640 - 8600
Resistance @ 8750 – 8800 - 8860
Bias will be wait and watch for proper signals on charts.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur Shah.

Trading Flat!!!

Hi All,

Markets are likely to open on a Flat to positive note tracking global markets, SGX Nifty is trading @ 8755 (+7 Points) (Monday Nifty future closed @ 8748, today SGX Nifty is trading @ 8755 (8755-8748 = +7)

Personal View : Mayur Shah Educational Instructor.

After a gap down opening on Monday Nifty traded sideways throughout the day from 8698 to 8746. Now its trading @ daily basing area support of 8470 – 8730, so going short now will be not be advisable and we will sell on rise with proper evidence on charts.

Areas to watch out

Supports @ 8680 – 8640 - 8600

Resistance @ 8750 – 8800 - 8860

Bias will change to Negative for Medium term if Nifty breaks 8530 – 8480 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Hawa badal rahi hai!!!

Hi All,

Markets are likely to open Sharp Negative tracking global markets, SGX Nifty is trading @ 8763 (-144 Points)

Shooting Star on Weekly, Candle Divergence on daily charts, Classic Negative Divergence on hourly charts and that to all this as Major Resistance of 8940 – 9120. All this was suggesting a halt at Uptrend. Next Major supports on weekly charts are nearby 8570 – 8500.

Today’s opening will be Sharp Negative as SGX Nifty is trading -140 points and Asian markets down more than 1% due to sharply lower finish for major US indexes on Friday amid concerns central banks will become less accommodative.

Accommodative Monetary Policy - When a central bank (such as the Federal Reserve) attempts to expand the overall money supply to boost the economy when growth is slowing (as measured by GDP). This is done to encourage more spending from consumers and businesses by making money less expensive to borrow by lowering the interest rate.

Areas to watch out

Supports @ 8760 – 8680 – 8640 - 8600

Resistance @ 8900 – 8950 - 8970

Bias will change to Negative for Medium term if Nifty breaks 8530 – 8480 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Hourly Negative Classic RSI Divergence!!!

Hi All,

Markets are likely to open on a  flat to Negative note tracking global markets, SGX Nifty is trading @ 8950 (-26 Points)

As said in the last update that Nifty is trading at Resistance zone of 8940 – 9120, Yesterday it took support @ 8900 – 8880 and bounce back till 8950.

On hourly charts Nifty created a Negative Classic RSI Divergence and break below 8900 – 8880 levels will open doors for bears in short term with next supports at 8850 – 8820 & resistance can be seen @ 8950 – 8970.

Areas to watch out

Supports @ 8900 - 8850 – 8800 - 8750

Resistance @ 8970 – 9000 – 9050 - 9120

Bias for Nifty will change to Negative if it breaks 8900 – 8880 levels..

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

-ve Candle Divergence!!!

Hi All,

Markets are likely to open on a flat to Negative note tracking global markets, SGX Nifty is trading @ 8950 (-9 Points)

As said in the last update that Nifty is trading at Resistance zone of 8940 – 9120, Yesterday it created a High of 8966 and then came down to 8920, traded in a tight range of 8920 – 8960.

On daily Charts Nifty gave a RSI candle Divergence which indicates that the move would be on hold if Nifty breaks yesterday low i.e., 8910-8900, and close below 8850 – 8800 will be Negative for Nifty with next supports nearby 8750 – 8700.

Areas to watch out

Supports @ 8900 - 8850 – 8800 - 8750

Resistance @ 8970 – 9000 – 9050 - 9120

Bias for Nifty will change to Negative if it breaks 8920 – 8900 levels..

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Festivals on mind and Bulls on Stock market!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8987 (21 Points)

Festivals on mind and Bulls on Stock market.

Markets closed 130 points higher yesterday, achieving the targets of Symmetrical Triangle on daily charts.

Nifty gave 31% returns from the low of Feb 2016 (6825) without a major correction on the charts. Put Call Ratio is a 1.3 and Nifty is trading at weekly resistance of 8940 – 9120 levels. Also it is overbought in Daily , weekly charts.

However there is now sigh of weakness as of now but longs traders book profit in long trades or trail your stoploss as its trading in Resistance Zone on weekly charts.

Areas to watch out

Supports @ 8850 – 8800 - 8750

Resistance @ 8960 – 9000 – 9050 - 9120

Bias for Nifty remains positive until Nifty stays above 8750 – 8700, Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Multiple Negative Classic Divergence!!!

Hi All,

Markets are likely to open on a Negative note, tracking global markets, SGX Nifty is trading @ 8805 (-19 Points)

Multiple Negative Classic Divergence on Hourly charts indication weakness in the momentum, Break below 8760 – 8740 will be Negative for markets with support nearby 8710 – 8670 and resistance @ 8820 – 8840.

Areas to watch out

Supports @ 8755 - 8700 – 8660 - 8620

Resistance @ 8800 – 8840 - 8900

Bias will change to Negative if Nifty breaks 8750-8730.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Negative Divergence!!!

Hi All,

Markets are likely to open on a Flat to Negative note, tracking global markets, SGX Nifty is trading @ 8842 (-2 Points)

Personal View : Mayur Shah Education Instructor.

As mentioned in the last Update about Symmetrical Continuation Triangle formation on Daily chart which got a Breakout when Nifty broke 8660 – 8700 levels.

Yesterday Nifty went above 8800 creating a high of 8819 but was not able to close above the physiological level 8800 (Close @ 8786).

Up move will continue as there is not selling signal on daily charts, However on Hourly charts Nifty gave Classic Negative Divergence which will trigger when Nifty breaks 8770 – 8760 (Immediate support) with Supports nearby 8730 – 8680 – 8640 and resistance can be seen at 8820 – 8840.

Areas to watch out

Supports @ 8700 – 8660 - 8620

Resistance @ 8760 – 8800 - 8840

Bias for Nifty remains positive until Nifty stays above 8700 – 8640, Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Triangle Breakout!!!

Hi All,

Markets are likely to open on a Flat to Negative note, tracking global markets, SGX Nifty is trading @ 8798 (-7 Points)

As mentioned in the last Update about Symmetrical Continuation Triangle formation on Daily chart which got a Breakout Yesterday when Nifty broke 8660 – 8700 levels.

The up move likely to continue till 8800 – 8850 levels until we see any reversal signal.

Areas to watch out

Supports @ 8700 – 8660 - 8620

Resistance @ 8760 – 8800 - 8840

Bias for Nifty remains positive with 8800 – 8840 targets in coming days, Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Buy on Dips - Sell on Rise!!!

Hi All,

Markets are likely to open on a Positive note, tracking global markets, SGX Nifty is trading @ 8679 (+24 Points)

Markets went below the Trend Line support on daily charts but with low volume and it was trading at daily support zone of 8540 – 8470 and bounced back from these levels and gave a close above 8600.

Since it has bounced back from support and closed above 8600 we can expect Nifty to move upwards till 8630 - 8650 – 8700 mark.

Areas to watch out
Supports @ 8570 - 8540 - 8500 - 8470
Resistance @ 8650 - 8680 - 8730 - 8760 - 8800

Bias for Nifty will be positive if Nifty manage to stay above 8660 – 8700.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Bullish Continuation Symmetrical Triangle

Hi All,

Markets are likely to open on a Positive note, tracking global markets, SGX Nifty is trading @ 8660 (+19 Points)

Yesterday Nifty tanked by 60 points and closed nearby Trend support.

Bullish Continuation Symmetrical Triangle has formed on daily charts (Please refer the chart), Break above 8660 - 8700 will lead Nifty towards 8850 - 8900 levels in coming days.

Areas to watch out

Supports @ 8570 - 8540 - 8500 - 8470

Resistance @ 8650 - 8680 - 8730 - 8760 - 8800

We Expect Nifty to bounce from the Trend Line Support and break above 8660 - 8700 will be a positive sign for Nifty going ahead

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.