Bye Bye FY15-16

Markets are likely to open on a flat to negative note, as SGX Nifty is trading 9 points lower.

Last day of the financial year, markets are likely to open flat to negative ahead of FNO Expiry.

Its trading at daily resistance of 7750-7710 levels so we can expect some kind of selling pressure today in the morning trades, however we are not suggesting to go short today as Markets will be volatile through out the day because of FNO Expiry.

Support will be near by 7700 - 7640 and resistance @ 7750 - 7800 levels, View will be wait and watch, Enter in to the trade when there is some evidence on the charts.

Will update view as markets progress and give proper trade based on the charts.

Regards,

Team ATC.

Back on track!!!

Markets are likely to open on a strong note, as SGX Nifty is trading 50 points higher.

Yesterday we saw Nifty went below 7600 and close below it which is indicating some selling pressure will be there in near term.

Also its trading near the supports of 7580 - 7480 levels, And today its likely to open in the range of 7640-7650 levels as SGX Nifty is trading 50 points higher.

View will be wait and watch, because markets are likely to be volatile because of FNO expiry tomorrow.

Will update view as markets progress and give proper trade based on the charts.

Regards,
Mayur. S

A Break!!!

Markets are likely to open on a flat note, as SGX Nifty is trading 7 points lower.

Areas to watch out :

Nifty was trading in the resistance zone, also it was overbought, we saw Nifty tanked by 100 points yesterday went below 7600 mark created a low of 7587 and close above 7600.

On daily charts a bearish candle has occurred with significant selling pressure, a close or a break below yesterday low i.e., 7587 will be negative for Nifty for short term with near term supports @ 7540-7460-7400 levels.

Next Crucial levels to watch out for bulls will be 7600 - 7580 levels and if it breaks 7580 and sustain below it then we may see Nifty moving towards 7540-7460 levels.

Bias remains positive until it close below 7600-7580 levels for short term,buying on dips will be advisable only if there is some evidence on charts.

Will update view as markets progress and give proper trade based on the charts.

Regards,
Mayur. S

Flat to start after a long weekend!!!

Markets are likely to open on a flat note, as SGX Nifty is trading 2 points higher.

Areas to watch out :

After a long weekend, Nifty is likely to open on a flat note, also the March F&O contract is going to expiry week 31-Mar-2016 (Thursday) so Markets are likely to be volatile these week.

Next levels to watch out will be 7730 - 7800 - 7840 and supports @ 7670-7650 - 7620 - 7590 levels

Bias remains positive until it close below 7640-7600 levels for short term,buying on dips will be advisable.

Will update view as markets progress and give proper trade based on the charts.

Regards,
Mayur. S

Relaxing...

Markets are likely to open on a flat note, as SGX Nifty is trading 3 points higher.

As expected, Nifty took daily gap resistance of 7675-7720 and it came down by more than 0.5% and in the second half bull take over the charge and Nifty managed to closed above 7700 levels.

Next levels to watch out will be 7730 - 7800 - 7840 and supports @ 7670-7650 - 7620 - 7590 levels

Bias remains positive until it close below 7640-7600 levels for short term,buying on dips will be advisable.

Will update view as markets progress and give proper trade based on the charts.

Regards,
Team ATC.

Cautious!!!

Markets are likely to open on a flat note, as SGX Nifty is trading 5 points higher.

Yesterday Nifty close 2 month high @ 7704, It has broken the crucial resistance of 7600 - 7540 levels which we were taking about in the last update.

Next levels to watch out will be 7720 - 7800 - 7840 and supports @ 7650 - 7620 - 7590 levels

Bias will be stay cautious as its trading at daily Gap resistance of 7675-7720 levels. A close above 7720 will lead Nifty higher till 7800 - 7840 levels.

Will update view as markets progress and give proper trade based on the charts.

Regards,

Mayur. S

Range bound!!!

Markets are likely to open on a strong note, as SGX Nifty is trading 60 points higher.

Areas to watch out :

Supports @ 7480 - 7440 - 7400

Resistance @ 7580 - 7610 - 7640 - 7680

Nifty is trading in range of 7600 - 7400 levels. A break above or below these levels will decide the further levels.

On daily charts Nifty gave bearish signal - RSI Classic Divergence at resistance of 7580 - 7610 levels, But it will be only ruled out when nifty breaks the supports of 7420 - 7400 levels.

Bias is still positive with supports at 7440 - 7400 levels and resistance @ 7550 - 7610 levels.

Will update view as markets progress and give proper trade based on the charts.

Regards,

Mayur. S

Picture abhi baki hai mere dost...LOL

Gap up opening on D-Street as Fed leaves key rates unchanged.

Areas to watch out :

Supports @ 7480 - 7440 - 7400

Resistance @ 7600 - 7640 - 7680

As expected Nifty fell down yesterday in the morning trades, but in the second half it bounce for the supports zone of 7440 - 7400 levels as mentioned in the earlier post.

Yesterday, On hourly charts there was a Candle RSI divergence at support of 7440 - 7400 levels which lead Nifty to close near by 7500.

Key levels to watch out : supports @ 7440 - 7400 and resistance @ 7580 - 7610 - 7640

Bias is positive with buying on dips strategy.

Will update view as markets progress and give proper trade based on the charts.

Regards,

Team ATC.

Markets are likely to open on a flat to positive note. SGX Nifty is trading 15 points higher.

Areas to watch out :

Supports @ 7450 - 7400 - 7370 - 7340
Resistance @ 7510 - 7550 - 7610 - 7640

As mentioned in the last post that Nifty is trading at daily resistance zone and RSI is also overbought. Yesterday we saw some Nifty came down by 80 points and close @ 7460.

Nifty on daily charts showed some weakness and RSI gave a Negative Classic Divergence at daily resistance of 7570 - 7610 levels.

The view will change to Negative for short term if Nifty breaks 7420 - 7400 levels with supports near by 7370 - 7340 - 7300 levels and resistance near by 7510 - 7570 - 7610.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur Shah 

Education Instructor

Wait and watch!!!

Personal View : Mayur Shah Education Instructor

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading 9 points higher.

View remains same as its trading at daily resistance of 7570-7610 and RSI is also in Overbought area.

Short-Medium Term View : The upward journey is likely to continue until and unless Nifty closes below 7500 - 7400 mark. Will update the view whenever we get proper evidence on charts.

Bias remains positive for Nifty and buying on dips will be advisable.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur.

Opening with a bang!!!

Personal View : Mayur Shah Education Instructor

Nifty is likely to witness a strong opening as SGX Nifty is trading 60 points higher.

Markets last week ended flat with Nifty managed to closed above 7500, However its still trading at daily resistance of 7600 - 7560 levels. Going long will be not advisable now as its trading in the Overbought area.

Short-Medium Term View : The upward journey is likely to continue until and unless Nifty closes below 7500 - 7400 mark. Will update the view whenever we get proper evidence on charts.

Bias remains positive for Nifty and buying on dips will be advisable.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur. S

Might be a pause for Bulls!!!

Personal View : Mayur Shah Education Instructor

Nifty was trading in the overbought area and was trading at daily resistance of 7560-7600 levels and its closed below 7500 mark.

Bulls trade with strict stoploss as it have given a Negative Candle Divergence on daily chart and a break below 7440 - 7420 levels will lead Nifty to fall down till 7390 - 7350 - 7300 levels.

Bias will be Negative if Nifty break 7400 and settles below it for some time.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur

Bulls victory!!!

Personal View : Mayur Shah Education Instructor

Nifty managed to closed yesterday above Rickshaw man candlestick pattern high i.e., 7527, which is a good sign for Bulls going ahead. However its overbought on daily charts so buying on dips will be advisable.

Immediate hurdle for Nifty will be at 7570-7610 levels, Now we have to wait and watch for taking position in Nifty.

Bias remains positive until Nifty closes below 7400 levels for short term. For Intraday trades buying on dips will be advisable

Trade with Stoploss and with Proper Money Management.

Regards,
Team ATC.

Wait and watch!!!

Personal View : Mayur Shah Education Instructor

Yesterday Nifty surpassed 7500-7520 however unable to sustain above these levels and closed below 7500 mark. Also it dint break the crucial support of 7445-7440.

Yesterday's candle on daily chart is a Rickshaw Man candlestick pattern, Its a indecisive Candlestick pattern. A break above yesterday's high (7520-7530) or below yesterday's low (7442-7440 levels) will decide the further market trend.

A break above 7520-7530 will lead nifty to 7560-7610 levels and a break below 7445-7440 levels will be negative with supports near 7410-7400-7380 levels.

Bias will be wait and watch and let price tell us the direction it want to go.

Trade with Stoploss and with Proper Money Management.
Regards,
Team ATC.

Break toh banta hai!!!

Personal View : Mayur Shah Education Instructor

Nifty is trading at daily resistance of 7500 - 7520, a break below 7445-7440 levels will be negative for Intraday with supports near 7410-7400-7380 levels.

Bias for Nifty is still positive with resistance @ 7520 - 7560 - 7600 and key supports @ 7440 - 7400 - 7340

Buying on dips will be advisable as it trading a crucial resistance levels.

Trade with Stoploss and with Proper Money Management.

Regards,
Team ATC.

Rally Continue...

Personal View : Mayur Shah Education Instructor

Nifty surpassed the physiological level of 7400 and close @ 7475 above 7400 - 7450 crucial levels.

Bias for Nifty is still positive with resistance @ 7520 - 7560 - 7600 and key supports @ 7440 - 7400 - 7340

Buying on dips will be advisable as it trading a crucial resistance levels. Dont rush for buying stocks right now wait for a dip or Next week if is close above 7600 then we may see higher levels coming soon near 7700 - 7800 levels.

Trade with Stoploss and with Proper Money Management.
Regards,
Mayur Shah.

Marching continues...

Personal View : Mayur Shah Education Instructor

As said in the last update that Nifty will continue it upside journey and also it close above the daily gap of 7323 - 7363 levels which is a good sign moving ahead.

Now a physiological level 7400 which will be eyed on. A close above 7400 levels will give confidence to bulls and after that we may see a journey towards 7500 - 7600 levels. And a close below 7400 will be sign of concern.

Bias for Nifty is still positive with resistance @ 7400 - 7480 - 7500 - 7570 - 7600 and key supports @ 7380 - 7340 - 7300 - 7240

Trade with Stoploss and with Proper Money Management.

Regards,
Team ATC.

Bulls attack!!!

Personal View : Mayur Shah Education Instructor

235 points Zoom after a long time, Post Budget Rally is likely to continue as expected, Nifty took support @ 6800 - 6850 levels and bounced sharply on Monday 29-Feb-2016 and it continue yesterday.

As said in the last update that if Nifty sustains above 7090 - 7100 levels will lead Nifty today 7200 - 7250, today it looks like that it will cross 7250 levels also in the opening trade as SGX Nifty is up by more 100 points.

We update with further levels once the markets settles and give some further direction, Also there's a small gap on daily chart of Nifty 7325-7363 levels, So let see whether it closes the gap or take resistance near this gap.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur

Roller Coaster Ride.

It was fun Watching Markets yesterday it remind me Roller Coaster ride.. In the morning markets were slight negative, After the budget started it hammered down badly till 6825 (~200 points in few minutes) and then its took u turn till 7095 (yesterdays high) and again it came down below 7000 and closed below 7000 mark.

As expected, yesterday was a volatile session where Nifty first tanked ~200 points and then covered back and it was trading positive by around 45 points and finally closed 42 points lower.

Well based on the charts it has pulled back aggressive from 6820-6800 levels which is a good sign for bulls, However, a close above yesterday high is important  going forward. If it closed above 7100 and settles above 7100 then we may a see uptick till 7200 - 7250 levels and above 7250 we may see 7300 - 7350 levels in coming days.

Plan of action for bulls will be wait until you a get a close or a sustain move above 7090 - 7100 levels for confirmation.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur