Northward journey continue!!!

Markets are likely to open on strong today tracking global markets, SGX Nifty is trading @ 8262 (55 Points)

Markets will remain volatile today because of FNO Expiry contract.

Nifty gave a strong closing above 8200 yesterday and looks like the Northward journey will continue till 8270 - 8290 which are the next resistance levels for Nifty.

Also in the last post we mentioned that Super Trend gave a Positive Signal where entry will triggered at 8146 - 8150 with next resistance @ 8200 - 8260. First target was accomplished yesterday and now looks like it will be trading near the second target. Long trades book profit and stay cautious today because of FNO Expiry.

Areas to watch out :
Supports @ 8200 - 8150 - 8120
Resistance @ 8260 - 8300 - 8340

Bias is positive with Buy on dips will be advisable with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Positive!!!

Markets are likely to open on Positive note today tracking global markets, SGX Nifty is trading @ 8165 (33 Points)

Markets will remain volatile as FNO contracts will expire tomorrow - Thursday 30-June-2016.

As mentioned in the last post that Nifty is trading in a range of 8050 - 8130 and a break below or above this levels will decide the move. It went above 8130 and touch Intraday high of 8146, and closed at 8126.

Today's opening likely to be near by 8160 - 8170, Also on hourly chart Super Trend gave a Positive Signal where entry will triggered at 8146 - 8150 with next resistance @ 8200 - 8260.

Areas to watch out :
Supports @ 8100 - 8050/8030 - 8000 - 7950 - 7920
Resistance @ 8200 - 8260 - 8300 - 8340

Overall Bias remains sideways where Buy nears supports and Sell near resistance will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Daily, Hourly, Intraday Basing!!!

Markets are likely to open on flat to Negative note today tracking global markets, SGX Nifty is trading @ 8065 (-14 Points)

Markets will remain volatile this week as FNO contracts will expire on Thursday 30-June-2016.

Nifty on Intraday charts is trading in range of 8050 - 8120, Also on hourly charts Nifty took resistance of Super Trend. For short term a break above 8050 - 8120/8130 levels will decide the move.

We have to wait and watch for the breakout to enter into the trade.

Areas to watch out :
Supports @ 8050/8030 - 8000 - 7950 - 7920
Resistance @ 8130 - 8180 - 8200 - 8270

Overall Bias remains sideways where Buy nears supports and Sell near resistance will be advisable.

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

Mayur S.

RICKSHAW MAN!!!

Hi All,

Markets to open on a Negative note today tracking global markets, SGX Nifty is trading @ 8037 (-41 Points)

After a huge dive on Friday of 300 points, Nifty gave a Candle Divergence on hourly charts and bounced back to 8080 levels giving a close above 8000 - 8050 levels.

On weekly charts - Rickshaw man (Indecisive candle) formed which indicates Nifty will be trading in a range of 7920 - 8300 until there a break above or below these levels.

Areas to watch out :
Supports @ 8000 - 7920 - 7900
Resistance @ 8100 - 8130 - 8160

Overall Bias remains sideways where Buy nears supports and Sell near resistance will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

BREXIT!!!

Hi All,

Markets to open on a weak note today tracking global markets, SGX Nifty is trading @ 8121 (-179 Points)

SGX Nifty take a dive ahead of the final result of Brexit, the final outcome will be by 11.30 AM.

Markets are likely to remain volatile because of Brexit event. Good time for investor to enter into markets if Nifty gap down by 150-180 points. Short term trades wait and watch for proper evidence on charts.

Areas to watch out :

Supports @ 8100 - 8050 - 8000

Resistance @ 8200 - 8270 - 8300

Bias will be wait and watch for short term traders, Good time for long term investor.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

EU referendum!!!

Indian markets are likely to open on a flat note today tracking global markets, SGX Nifty is trading @ 8215 (10 Points)

Markets tanked yesterday by more than 40 points, created a low of 8153 and then bounced back to 8200 and closed above 8200.

Volatility is likely to rise today because of EU referendum, UK will vote to determine the future of Britain within the 28-member European Union.

Areas to watch out :
Supports @ 8200 - 8150 - 8100
Resistance @ 8240 - 8260 - 8300 - 8340

Bias for Nifty is wait and watch.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Blended Engulf & Candle Negative Divergence!!!

Hi All,

 

Indian markets are likely to open on a flat note today tracking global markets, SGX Nifty is trading @ 8229 (9 Points)

Market are likely to trade rangebound till the Britain's referendum on June 23 that will decide whether UK to stay in European Union or leave.

Nifty is trading @ daily resistance of 8260 - 8300, buying right now is not advisable, also on hourly charts Nifty gave a bearish candle - Blended bearish pattern and on daily charts Negative Candle Divergence which indicates there might be sell off till 8160 - 8100 levels.

However we don't recommend any trade as Markets are likely to remain volatile ahead of Brexit vote tomorrow.

Areas to watch out :

Supports @ 8200 - 8170 - 8100

Resistance @ 8260 - 8300 - 8340

Bias for Nifty is wait and watch.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Bulls snatch Bears!!!

Indian markets are likely to open on a flat note today tracking global markets, SGX Nifty is trading @ 8243 (1 Point)

After taking support near to 8100 levels Nifty yesterday bounce and managed to close above 8200 levels mainly because of upbeat monsoon covering half of India and worries of Brexit easing a bit.

On hourly Chart Nifty gave a Trend Change signal which indicating Nifty will move till 8260 - 8300. Buying on dips will be advisable as RISK : REWARD ratio is not proper at current levels with supports near 8100 - 8060 levels.

Areas to watch out :
Supports @ 8200 - 8170 - 8100
Resistance @ 8260 - 8300 - 8340

Bias remains positive until Nifty trades above 8060 - 8100 levels. Buy on dips with proper evidence on charts will be preferable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Rajan Effect!!!

Indian markets are likely to open Negative today on the news on Reserve Bank of India Governor Raghuram Rajan has no intention to serve second term, while global markets are trading positive worries of Brexit easing a bit. SGX Nifty is trading @ 8099 (-57 Points)

On Friday we saw Nifty taking resistance of Super Trend on hourly charts and we recommended to short Nifty near 8150-8160 levels. As per SGX if Nifty opens down by 50-60 points then our 1st Target i.e., 8100.

We have to wait and watch today as Global markets are positive and the worries of Brexit easing a bit. The Britons will vote to decide if the UK should leave or stay within the 28-member EU trade bloc on June 28.

Areas to watch out :
Supports @ 8100 - 8060 - 8000
Resistance @ 8200 - 8220 - 8260 - 8300

Bias will be wait and watch, and book profits in short positions if Nifty opens near 8100 - 8090 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Super Trend once again!!!

Hi All,

Sell Nifty with targets near by 8100 - 8060.

Nifty open positive by around 50 points but dint managed to cross resistance of 8200 - 8220 levels.

Now it took resistance of Super Trend on Hourly chart which indicates downward move till 8100 - 8060 levels and reversal above 8200 - 8220 in near team.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur S.

FED unchanged!!!

Hi All,

Indian markets are likely to open weak as on Fed decision where it stood pat on rates citing the Brexit risk and after the recent weak US jobs data. Also SGX Nifty is trading lower by 31 points

Yesterday Nifty broke 8140 (Basing area high mentioned in the last post) and created a high of ~8210 and closed above 8200.

The overall view on Nifty is still bearish until it break and closes above 8300 - 8340 levels.

Areas to watch out :

Supports @ 8150 - 8100 - 8060

Resistance @ 8220 - 8260 - 8300

Bias remains Negative and sell on rise will be strategy to be followed with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Eyes on FED & BOJ!!!

Indian markets are likely to open on positive today tracking global markets, SGX Nifty is trading @ 8146 (+29 points)

Nifty trading in a range since two days 8060 - 8140 levels as traders are waiting for the Federal Reserve decision on rates and Bank of Japan policy meeting outcome while upcoming vote on whether the UK will remain in the European Union.

A break below 8060 will open doors for 7990 - 7950 and a break above 8140 will lead Nifty towards 8180 - 8200. However trade cautiously.

Areas to watch out :
Supports @ 8060 - 7990 - 7950
Resistance @ 8140 - 8170 - 8200

Bias remains Negative and sell on rise will be strategy to be followed with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Buy Sun Pharma!!!

Positional View :

Sun pharma : Buy

Hammer and RSI Candle Divergence weekly charts, CMP 750

Resistance near by 825-900
Supports near by 710 - 700.

Trade with Strict Stoploss and with Proper Money Management.

Regards,
Mayur S.

Rise in volatility!!!

Indian markets are likely to open on a flat to Negative note today tracking global markets, SGX Nifty is trading @ 8115 (-13.5 points)

Yesterday Nifty tanked by more than 100 points and started recovering in second half, recovered almost by 50 points and closed above 8100 mark. Also India Vix was up by ~4% suggesting huge swings in coming days. 

Markets are likely to remain volatile because of two-day US Fed meeting that begins today.

A close below 8100 will open door for 8000 - 7950 levels in short term.

Areas to watch out :
Supports @ 8060 - 7990 - 7950
Resistance @ 8130 - 8170 - 8200

Bias remains Negative and sell on rise will be strategy to be followed with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Power of Retracement!!!

Hi All,

Book full profit on Nifty, Short Call given on Friday @ 8240 - 8230 levels CMP 8105.

Refer to the update : Super Trend Retracement dated 10-06-2016.

Cheers.

Regards,
Mayur S

We all fall down!!!

Indian markets are likely to open Negative today tracking global markets, SGX Nifty is trading @ 8125 (-71 points)

Last week Nifty dint not surpassed 8300 - 8340 levels which were crucial resistance and week closed Negative by more the half a percent.

As said a weekly close below 8200 - 8180 will be negative for Nifty, Nifty closed below 8200 - 8180 on Friday, giving a weekly close @ 8170.

RSI Candle Negative Divergence on weekly charts which indicating a stop on up move for short term. Successfully close below 8130 - 8100 will lead Nifty towards 8060 - 7950 levels.

Areas to watch out :
Supports @ 8130 - 8100 - 8060
Resistance @ 8200 - 8240 - 8300

Bias changed to Negative and sell on rise will be strategy to looked upon.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Super Trend Resistance!!!

Market Update :

Nifty bounced from the support levels of 8180 - 8170 levels and now its trading at 8245.

On hourly charts Nifty took resistance of Super Trend which is suggesting that the upward move was limited and if Nifty breaks 8240 - 8230 then we can expect 8180 - 8130 levels in short term, with resistance be near by 8260 - 8270 levels.

One can short Nifty if it breaks 8240 - 8230 mark with targets near by 8180 - 8130 and Stoploss above today high.

Trade with Strict Stoploss and with proper Money Management

Regards,
Mayur S.

8180 - 8170!!!

Indian markets are likely to open on a flat to Negative note today tracking global markets, SGX Nifty is trading @ 8215 (-10 point)

As said in the last update that a break below 8250 will lead Nifty towards 8200 - 8180 levels, Yesterday Nifty broke 8250 and created a low of 8184 and close near 8200 mark.

Today closing is important for market, If Nifty close below 8180 then we can expect Nifty moving towards 8130 - 8100 - 8050 levels in coming days.

However, yesterday it created a Candle Divergence on hourly charts at Support of 8180 - 8170 levels, but it will triggered only when Nifty breaks 8220 mark and nearby resistance will be 8240 - 8260 - 8290, which doesn't have proper Risk Reward Ratio.

Areas to watch out :
Supports @ 8170 - 8130 - 8100
Resistance @ 8240 - 8300 - 8340 - 8370 - 8430

Bias will change to Negative if Nifty closes below 8180 - 8170 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Tight Range!!!

Indian markets are likely to open on a flat to positive note today tracking global markets, SGX Nifty is trading @ 8297 (+13 point)

Yesterday Nifty trade in a tight range of ~ 50 points (8288-8249), A break below 8250 will lead Nifty towards 8200 - 8180 and a break above 8300 will lead Nifty to next resistance which can be near by 8340 - 8370 levels.

Markets are trading at daily resistance of 8300 - 8340, buying right now will not be advisable. We have to wait and watch for proper evidence on charts to enter into the trade.

Areas to watch out :

Supports @ 8250 - 8200 - 8170 - 8130

Resistance @ 8300 - 8340 - 8370 - 8430

Bias will be buy on dips with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

8300 - 8340!!!

Hi All,

Indian markets to open flat today tracking global markets, SGX Nifty is trading @ 8291 (+1 point)

Yesterday Nifty broke 8260 and almost was near to 8300 but after 2 PM half of the gains were taken out and Nifty closed @ 8263 mark.

Markets are trading at daily resistance of 8300 - 8340, buying right now will not be advisable. We have to wait and watch for proper evidence on charts to enter into the trade.

Areas to watch out :

Supports @ 8250 - 8200 - 8170 - 8130

Resistance @ 8300 - 8340 - 8370 - 8430

Bias will be buy on dips with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Mr. Rajan day!!!

Indian markets to open on Positive note tracking global markets, SGX Nifty is trading @ 8267 (32 points)

All eyes on RBI Monetary policy, Nifty is trading at resistance with RSI in overbought zone on daily and hourly charts so going long will not be preferable now, also markets are likely to remain volatile because of RBI meet. If NO change in the policy market can take it negative for short term.

As mentioned earlier that 8130 - 8100 key supports for Nifty and key resistance will be near by 8260 - 8300 levels.

Areas to watch out :

Supports @ 8200 - 8170 - 8130 - 8060 - 8000
Resistance @ 8250 - 8300 - 8340

Bias will be wait and watch.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

@ Resistance!!!

Indian markets to open on Flat to Positive note tracking global markets, SGX Nifty is trading @ 8249 (12 points)

All eyes on RBI Monetary policy which is going to be held on 7th June 2016 Tuesday (Tomorrow).

Nifty is trading in overbought zone on daily and hourly charts so going long will not be preferable now, also markets are likely to remain volatile because of RBI meet tomorrow.

As mentioned earlier also that 8130 - 8100 key supports for Nifty and key resistance will be near by 8260 - 8300 levels.

Areas to watch out :
Supports @ 8200 - 8170 - 8130 - 8060 - 8000
Resistance @ 8250 - 8300 - 8340

Bias will be wait and watch.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Bears are ignored!!!

Indian markets to open on Positive note tracking global markets, SGX Nifty is trading @ 8266 (32 points)

After few bearish candles on daily charts, Bulls refuse those bearish patterns and manage to surpass 8200 level and closed above it.

As mentioned earlier also that 8130 - 8100 key supports for Nifty and key resistance will be near by 8250 - 8300 levels.

Nifty is trading in overbought zone on daily and hourly charts so going long will not be preferable now, Buy on dips will be the strategy to looked up on and with proper evidence on charts.

Areas to watch out :
Supports @ 8200 - 8130 - 8130 - 8060 - 8000
Resistance @ 8250 - 8300 - 8340

Bias remains positive with Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Another bearish pattern - GraveStone Doji!!!

Indian markets to open on Negative note tracking global markets, SGX Nifty is trading @ 8188 (-15 points)

As posted earlier Bearish Engulf with RSI Candle Divergence at Window (Gap down) resistance on daily charts indicating a pause in the uptrend, However the same will confirm when Nifty breaks 8130 - 8100 levels.

One more bearish candle occurred yesterday on daily charts - Grave Stone Doji which adding to the weakness.

Areas to watch out :
Supports @ 8130 - 8130 - 8060 - 8000
Resistance @ 8220 - 8250 - 8300

Bias will change to Negative for short term if Nifty breaks 8130 - 8100 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Negative Candle Divergence with Bearish Engulf!!!

Indian markets to open on positive note tracking global markets, SGX Nifty is trading @ 8209 (+21 points)

As posted in the last update that Nifty is trading @ daily window resistance of 8209 - 8217 and a indecisive candle at that area suggesting a pause in the uptrend, Now its look like the Nifty will take a U turn if it breaks 8140-8130 levels.

Bearish Engulf Pattern occurred on daily chart trading at Window resistance of 8209-8217 with Candle RSI Divergence, so a break below yesterday's low i.e., 8134 will lead Nifty to move down further till 8070 - 8000.

Areas to watch out :

Supports @ 8110 - 8060 - 8000

Resistance @ 8220 - 8250 - 8300

Bias will change to Negative for short term if Nifty breaks yesterday (31-May-2016) low.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.