Indecisive Candle @ Window!!!

Indian markets to open on positive note tracking global markets, SGX Nifty is trading @ 8211 (+16.5 points)

Nifty made a day high of 8200 but unable to cross the psychological level and closed @ 8178.

Momentum has kind of became weak on hourly charts supported by RSI Classic Negative Divergence, but weakness will be stronger if Nifty unable to sustain 8120 - 8100 levels.

Also on daily chart there is a small gap between 8209-8217 (27-28 Oct 2015) and near to this gap there is a Indecisive candle formed yesterday, a break above 8220 or below 8100 will decide the future move.

Areas to watch out :
Supports @ 8120 - 8060 - 8000
Resistance @ 8220 - 8250 - 8300

Bias will be wait and watch, key supports for bulls will be 8120 - 8100 and key resistance will 8200 - 8220.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Strong Momentum!!!

Indian markets to start the week on a strong note tracking global markets, SGX Nifty is trading @ 8224 (+53 points)

Post Basing breakout on daily chart (7900-7940) last week, Nifty rallied by almost 300 points. Looks like the journey will continue till 8250 - 8300 levels as there is no weakness in the momentum.

Areas to watch out :

Supports @ 8120 - 8060 - 8000

Resistance @ 8220 - 8250 - 8300

Bias will be wait and watch as Nifty is overbought on daily and hourly charts. Buy on dips with proper evidence on charts will be looked upon.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Bang on Target!!!

Indian markets to open on a Positive note today tracking global markets, SGX Nifty is trading @ 7963 (+19 points)

As updated in the last post that a sustainable move above 7800 - 7820 will lead Nifty today 7860 - 7900 levels. Yesterday Nifty went above 7900 and created a day high of 7941.

Today is expiry of FNO May contract, markets are likely to trade volatile. Book profits in long trade as Nifty touch the targets.

Areas to watch out :
Supports @ 7900 - 7880 - 7820
Resistance @ 7960 - 8000 - 8060

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Strong Opening!!!

Indian markets to open on a Strong Positive note today tracking global markets, SGX Nifty is trading @ 7827 (+72 points)

Markets are likely to open strong @ 7800 - 7820 levels looking at SGX Nifty. As said in the last update a decisive break above 7800 - 7820 will lead Nifty today 7860 - 7900 levels.

However, Markets are likely to remain volatile because of FNO Expiry which is on 26-May-2016.

Areas to watch out :
Supports @ 7740 - 7700 - 7670
Resistance @ 7820 - 7880 - 7940

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

+ Classic Divergence!!!

Indian markets to open on a flat note today tracking global markets, SGX Nifty is trading @ 7730 (-6 points)

Yesterday Nifty opened positive and went above 7800 but unable to sustain the area and came down to 7730 levels.

On Hourly charts it has shown some kind of relief for BULLS Classic RSI Positive Divergence but the entry will trigger only when Nifty breaks 7810 - 7820 levels and sustain above these levels.

Markets are likely to remain volatile because of Expiry which is on 26-May-2016.

Areas to watch out :

Supports @ 7730 - 7700 - 7670

Resistance @ 7820 - 7880 - 7940

Bias will change to positive if Nifty manages to stay above 7800 - 7820 levels, till then Bias remains Negative.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Hold on!!!

Indian markets to open on a positive note today tracking global markets, SGX Nifty is trading @ 7782 (+20 points)

On Friday Nifty closed @ 7749 below 7780 - 7770 mark. Its has broken the daily basing range of 7770 - 7940.

Going ahead 7730 - 7675 will be key levels to watch out. If it breaks and manages to stay below 7680 - 7670 then we can expect 7550 - 7500 levels in short term.

Areas to watch out :

Supports @ 7730 - 7700 - 7670

Resistance @ 7780 - 7820 - 7860

Bias remains wait and watch as its trading near daily support area.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Hammer pe Hammer!!!

Nifty created Hammer on Hammer on hourly charts. 

16 May 2016 - Hourly chart Hammer at support of 7780 - 7770 lead nifty today 7939 levels on 17 May 2016. Again hammer on hourly charts @ support which is indicating the history can repeat.

Buy when Nifty break above 7810 - 7815 with resistance near by 7870 - 7900 - 7940 levels and Supports @ 7760 - 7750

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.

Sideways support!!!

Indian markets to open on a flat note today tracking global markets, SGX Nifty is trading @ 7784 (3 points)

Yesterday market tanked by 80+ points, went below 7800 levels and closed above 7770 mark which is lower end of the basing area (7950 - 7770).

Now its trading at the lower end of the basing area, Buy with proper evidence on charts will be advisable until an unless it doesn't close below 7770 mark.

Nifty is trading sideways from 5-6 trading session, so a break above 7900 - 79400 or below 7780 - 7770 will decide the future move.

Areas to watch out :

Supports @ 7770 - 7750 - 770

Resistance @ 7800 - 7840 - 7880

Bias remains wait and watch.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur, S.

Kabhi Uppar kabhi Niche!!!

Indian markets to open on a Negative note today tracking global markets, SGX Nifty is trading @ 7851 (-25 points)

Nifty is trading sideways from 4-5 trading session, so a break above 7900 - 79400 or below 7780 - 7770 will decide the future move.

Areas to watch out :

Supports @ 7830 - 7800 - 7770

Resistance @ 7890 - 7950 - 8000

Bias will be wait and watch as its trading in a range bound movement

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur, S.

Range Bound!!!

Indian markets to open on a Negative note today tracking global markets, SGX Nifty is trading @ 7877 (-31 points)

Nifty surpassed the resistance level 7900 - 7920, but in the second half due to profit booking Nifty drag below 7900.

Looking at daily charts its trading in a range and the range is 7920 - 7770, A break above or below this levels will decide the future move.

Areas to watch out :

Supports @ 7850 - 7800 - 7770

Resistance @ 7900 - 7950 - 8000

Bias for Nifty will be buy on dips with Proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur, S.

Aggressive Bulls!!!

Indian markets to open on a Positive note today tracking global markets, SGX Nifty is trading @ 7908 (29 points)

Nifty took support of 7780 - 7770 as said in the last post and created a hammer with Candle Divergence on hourly chart and shot up till 7850-7870 almost near to the second target which we mentioned yesterday (7880).

Today's opening will be higher looking at SGX Nifty which is up by 29 points. If Nifty sustain above 7910 - 7920 levels and closes above it then we can see 8000 - 8060 levels in short term.

Areas to watch out :

Supports @ 7850 - 7800 - 7770

Resistance @ 7880 - 7920 - 7950

Bias will be wait and watch.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur, S.

Support BUY!!!

Hi All,

Nifty on hourly charts took support @ 7770 and gave a candle RSI Divergence with Hammer.

Buy Nifty above 7795, ENTRY @ 7800 SL below 7770 and Target near 7850 - 7880 - 7920.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.

7770!!!

Indian markets to open on a flat note today tracking global markets, SGX Nifty is trading @ 7825 (-4 points)

On Friday we saw Nifty broke 7820 - 7800 levels but managed to took support @ 7780 - 7770 and closed above 7800 mark. Going ahead 7780 - 7770 will be crucial supports for Bulls.

Areas to watch out :

Supports @ 7770 - 7730 - 7670

Resistance @ 7850 - 7920 - 7950

Bias will change to negative if Nifty breaks 7780 - 7770 and sustains below this levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur, S.

13 The Friday!!!

Hi All,

Looking at history 13 THE Friday is a day where markets falls most of the time.

13 Dec 2013 Friday - Nifty down by 47
13 Jun 2014 Friday - Nifty down by 136
13 Feb 2015 Friday - Nifty up by 76
13 Mar 2015 Friday - Nifty down by 202
13 Nov 2015 Friday - Nifty down by 13

Today 13 May 2016 Friday - Nifty down by 100 points. Next 13 The Friday is 13 Jan 2017.

Regards,
Mayur, S.

Fingers Crossed

Indian markets to open negative today tracking global markets, SGX Nifty is trading @ 7878 (-45 points)

Yesterday markets managed to close above 7900, so now going ahead looks like market will move upwards with resistance near by 7960 - 8000 levels.

However, Today's closing is important for markets, if it close above 7900 - 7920 levels then we can see Nifty touch 8000 or higher in next week, So finger's crossed.

Areas to watch out :
Supports @ 7870 - 7850 - 7810
Resistance @ 7920 - 7950 - 8000

Bias remain positive. Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur, S.

Bulls attacking!!!

Indian markets to open flat to negative note tracking global markets, SGX Nifty is trading @ 7868 (-4 points)

After a gap down opening by almost 90 points, Yesterday Nifty created a low 7780 and in the first hour itself it was managed to move up till 7850-7860 levels that time it was down by 10-15 points.

Nifty took support at hourly super trend as posted yesterday, So going ahead 7780 - 7770 key supports for Nifty. However it was not able to cross 7900 mark and again came down to 7830 - 7815 levels took support of Super Trend again and then bounce back to 7850.

Areas to watch out :
Supports @ 7810 - 7770 - 7700
Resistance @ 7900 - 7950 - 8000

Bias remain positive. Buy on dips will be advisable, with Stoploss below 7780 and Targets as 7900 - 7960 - 8000.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur, S.

Super Trend Returns!!!

Market update : 

After a sharp negative opening, Nifty took support of Super Trend on hourly charts. Same happened on 11th May daily charts and we saw Nifty zooming by more then 100 points next day.

A sustainable move above 7890 - 7900 will lead Nifty to touch 7960 - 8000 mark in coming days with supports @ 7800 - 7770 levels.

Regards,
Mayur, S.

Bears are back!!!

Indian markets to open on a negative note tracking global markets, SGX Nifty is trading @ 7789 (-130 points)

We saw Nifty gave importance to Super Trend and Hammer on daily charts and touch 7880 - 7890 yesterday. Hope everyone was able to capture the move and book profits at higher levels.

Today markets are likely to witness Gap down opening looking at SGX Nifty. We have to watch and watch now and see how it moves in the first half.

Areas to watch out :

Supports @ 7810 - 7750 - 7700

Resistance @ 7900 - 7950 - 8000

Bias will be wait and watch.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur, S.

Super Hammer!!!

Indian markets to start the week on a positive note tracking global markets, SGX Nifty is trading @ 7778 (+29 points)

Super Trend + Hammer

Hammer on daily charts with Super Trend support suggesting a short term bounce till 7780 - 7830 levels, with key supports @ 7700 - 7670.

Areas to watch out :

Supports @ 7700-7670-7590

Resistance @ 7740-7780-7830-7860

Bias will change to positive if Nifty breaks 7740 - 7750 mark for short term.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur, S.

Retracement!!!

Indian markets to open Negative tracking global markets, SGX Nifty is trading @ 7722 (-41 points)

Nifty is likely to open near the daily support of 7670 - 7700, A buy in this range with proper evidence on charts will be looked on. However, bearishness is likely to continue as Nifty took resistance of Super Trend on Weekly charts going ahead 7600 - 7500 can be seen on cards.

Areas to watch out :
Supports @ 7700-7670-7590
Resistance @ 7740-7780-7860-7890-7940

Bias remains negative and sell on rise will be the strategy to be trade on.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.

Support Zone!!!

Indian markets to open flat to positive note tracking global markets, SGX Nifty is trading @ 7730 (+6 points)

Markets are trading at supports of 7700 - 7670 levels, We cant buy Nifty as there is no reversal signal on charts as of now. We have to wait for proper evidence on charts to give us a buy signal.

Areas to watch out :
Supports @ 7700-7670-7590
Resistance @ 7750-7780-7860-7890-7940

Bias will be wait and watch as its trading at crucial supports & wait for any reversal signal on charts.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.

Sellers in action!!!

Indian markets to open Negative tracking global markets, SGX Nifty is trading 7748 (-33 points)

Yesterday we saw Nifty bounce back from 7770 levels but in the second half it took resistance @ 7880 - 7890 mark and hammered down 7735 and closed @ 7743.

As per SGX Nifty is likely to open near 7710 - 7720 levels which are crucial supports levels for going ahead. Will have to wait and watch for markets to give any signal going ahead.

Areas to watch out :
Supports @ 7720-7660-7570
Resistance @ 7780-7860-7890-7940

Bias remains negative until there is any reversal signal on hourly charts.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.

Hold on!!!

Indian markets to open flat to Negative, tracking global markets, SGX Nifty is trading 7823 (-15 points)

Nifty is trading at daily window support of 7770 - 7720, We yesterday Nifty is trading in a range of 7830 - 7777 a break above or below these levels will decide the further move of markets.

Areas to watch out :
Supports @ 7790-7770-7720
Resistance @ 7860-7890-7940

Bias will be wait and watch and a break below 7770 or above 7830 will decide the further move.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.

Bulls Bulls go away!!!

Indian markets to open on a Negative note tracking global markets, SGX Nifty is trading 7839 (-53 points)

As mentioned in the last update - Evening Star at daily resistance of 7970 - 8000 indicates the movement will be negative for short term.

Today's opening will be negative tracking SGX Nifty which is down by 53 points. Negative movement likely to continue till 7770 - 7720 levels as these are daily window (Gap up) which will act as supports.

Areas to watch out :
Supports @ 7790-7770-7720
Resistance @ 7860-7890-7940

Bias remains Negative with supports of 7790 - 7770 - 7720 and with reversal above 7970 - 8000 levels. Sell on rise will be the strategy to trade.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur, S.