Fresh beginning on a Negative Note!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8674 (-22 Points).

Markets are likely to open the first trading session of August Contract today on a Negative note.

After a rally of 50 points from the low of 8610, Nifty yesterday close above 7650 - 7660 resistance levels. If Nifty give consistent close above 7650 - 7660, then we can expect Nifty to gain momentum which will help Nifty to move towards 7750 - 7800 in near term. However we don't recommend to buy right now as its overbought on daily and hourly charts.

Buy on dips will be advisable with proper evidence on charts.

Areas to watch out :

Supports @ 8620 - 8570 - 8520 - 8470

Resistance @ 8700 - 8750 - 8830

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

FNO July contract Expiry!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 8610 (2 Points).

Markets are likely to remain volatile today because of FNO July contract Expiry.

Also on daily charts Nifty is creating higher high but RSI oscillator is creating lower high which is also a sign of worry for bulls.

Nifty breaks 8500 - 8470 which are crucial support then the overall view for short term will change to negative.

Areas to watch out :

Supports @ 8570 - 8520 - 8470

Resistance @ 8620 - 8650 - 8700 - 8780

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

May be a U turn!!!

Morning Everyone,

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @ 8603 (12 Points).

Yesterday Nifty closed below 8600 mark as its trading at resistance area of 8630 - 8660.

On daily charts its has given a Negative Candle Divergence with supports near by 8540 - 8480 levels which will get triggered only when Nifty breaks 8577 - 8570 levels(Yesterday Low).

Also on daily charts Nifty is creating higher high but RSI oscillator is creating lower high which is also a sign of worry for bulls.

In a nutshell there might be sell of around 50-80 points which we will be good for entering into long trades offcourse with proper evidence on charts and if Nifty breaks 8500 - 8470 which are crucial support then the overall view for short term traders will change to negative.

Areas to watch out :

Supports @ 8570 - 8520 - 8470

Resistance @ 8620 - 8650 - 8700 - 8780

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Positive Breakout!!!

Hi All,

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @ 8647 (10 Points).

Nifty finally gave a upside breakout and close convincingly above 8600. Going ahead 8600 - 8470 will be support area for Nifty.

The upward journey is likely to continue till next area of resistance which can be seen near 8630 - 8660 and a decisive break above 8660 will lead Nifty towards 8780 - 8850 levels in coming days.

Buys on dips with proper evidence on charts will be advisable.

Areas to watch out :

Supports @ 8600 - 8570 - 8520 - 8470

Resistance @ 8670 - 8700 - 8780

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Flat opening on cards!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 8556 (-0.50 Points).

Markets are trading in a range of 8600 - 8470, break above or below this levels will decide the market move.

Areas to watch out :

Supports @ 8500 - 8470 - 8440 - 8400 - 8360 - 8330

Resistance @ 8600 - 8630 - 8670 - 8700

Bias will be stay cautious and trade only when there is a proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

RSI Divergence with Bearish Engulfing pattern!!!

HI All

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @ 8530 (+7 Points).

Markets opened positive yesterday but took resistance near by 8580 - 8600 levels and tanked by 80 points from its high.

As said in the last update that a break below 8540 will open doors for bears. Its broke 8540 yesterday and gave a low nearby 8500.

A close below 8500 - 8470 will lead to further fall till 8400 - 8350. Supporting to these we have a Bearish Engulfing pattern on daily charts with RSI Candle Divergence which suggesting a stop on the up move.

Areas to watch out :
Supports @ 8500 - 8470 - 8440 - 8400 - 8360 - 8330
Resistance @ 8600 - 8630 - 8670 - 8700

Bias remains negative until Nifty breaks and closes above 8600.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Short below 8540!!!

Hi All,

Markets are likely to open on a flat to Negative note tracking global markets, SGX Nifty is trading @ 8580 (-9 Points).

Yesterday we saw positive opening and then Nifty traded sideways. On hourly charts Nifty is trading at Super Trend Resistance, which will triggered when Nifty breaks 8550 - 8540 levels with supports nearby 8500 - 8470 and resistance can be seen at 8570 - 8600.

Overall Markets are trading in a range of 8480 - 8600 and a break below 8480 and above 8600 will decide the move. 8600 - 8660 crucial resistance for Nifty where 8500 - 8480 will be crucial supports going ahead.

Areas to watch out :

Supports @ 8540 - 8500 - 8470 - 8440 - 8400 - 8360 - 8330

Resistance @ 8600 - 8630 - 8670 - 8700

Bias will be change to Negative for short term only when Nifty break 8550 - 8540 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Gap Support!!!

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @ 8568 (+13 Points).

Markets are trading in a range of 8480 - 8600 and a break below 8480 and above 8600 will decide the move.

On daily charts Nifty gave a candle divergence on 15 July candle which got triggered on 18 July and on 19 July it took support of daily upward gap of 8475 - 8479 levels and bounce till 8540.Nifty will be weak only when it closes below 8500 mark.

8600 - 8660 crucial resistance for Nifty where 8500 - 8480 will be crucial supports going ahead.

Areas to watch out :
Supports @ 8500 - 8470 - 8440 - 8400 - 8360 - 8330
Resistance @ 8600 - 8630 - 8670 - 8700

Bias will be stay cautious as Nifty is overbought on daily and weekly charts. Trade only when there is any proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Team ATC.

Bulls are in party mood!!!

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @ 8611 (+30 Points).

Market is likely to surge again, riding on strong global cues while earnings of index heavyweights TCS, Infosys and Reliance will be in focus.

Yesterday we saw a strong momentum on Nifty and it was able to cross 8550 and gave a closing of 8565 which indicate there is more upside. However Nifty is trading in overbought zone on weekly, daily and hourly charts, so going long will not be advisable at these movement.

8600 - 8660 crucial resistance for Nifty where 8480 - 8400 will be crucial supports going ahead.

Areas to watch out :
Supports @ 8530 - 8480 - 8440 - 8400 - 8360 - 8330
Resistance @ 8590 - 8630 - 8670 - 8700

Bias will be stay cautious as Nifty is overbought on daily and weekly charts. Buy on dips with proper evidence on charts will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Channel Resistance!!!

Hi All,

Nifty is trading at a Channel resistance on daily chart + Negative Candle Divergence on daily charts.

Risk trades can short Nifty Only below 8490 with stop above 8550 and targets near by 8400 - 8350.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur S.

Another Positive day!!!

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @ 8541 (+17 Points).

Yesterday Nifty opened firmed and during the day it was flirting with 8500 and managed to break and closed above 8500 mark.

Nifty is trading in overbought zone on weekly,daily and hourly charts, so going long will not be advisable at these movement.
8540 - 8600 crucial resistance for Nifty where 8480 - 8400 will be crucial supports going ahead.

Areas to watch out :
Supports @ 8480 - 8440 - 8400 - 8360 - 8330
Resistance @ 8540 - 8590 - 8630 - 8670

Bias will be stay cautious as Nifty is overbought on daily and weekly charts. Buy on dips with proper evidence on charts will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Journey continues!!!

Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 8516 (+28 Points).

We saw bulls getting stronger yesterday, where Nifty opened @ 8407 mark and bulls take Nifty to a fresh high of 8474.

Nifty is trading in overbought zone on weekly,daily and hourly charts, so going long will not be advisable at these movement. 8500 - 8530 crucial resistance for Nifty where 8410 - 8400 will be crucial supports going ahead.

Areas to watch out :

Supports @ 8440 - 8400 - 8360 - 8330

Resistance @ 8500 - 8530 - 8590 - 8630

Bias will be stay cautious as Nifty is trading near to resistance area of 8500 - 8530 levels. Buy on dips with proper evidence on charts will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Strong Opening!!!

Markets are likely to open on a Strong note tracking global markets, SGX Nifty is trading @ 8442 (+107 Points).

Last week we saw Nifty struggling @ 8370 - 8400 levels and took support @ 8300 - 8280 levels. Today's opening look like it will be above the resistance area of 8370 - 8400 levels.

GST Bill that is likely to be tabled in the monsoon session of Parliament and June quarter earnings are the two important events to watch out for in near term.

Nifty is trading in overbought zone on weekly,daily and hourly charts, so going long will not be advisable

Areas to watch out :

Supports @ 8320 - 8300 - 8260 - 8230

Resistance @ 8370 - 8400 - 8460 - 8500

Bias remains positive with buy on dips strategy with proper evidence on charts.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

On a Flat note!!!

Markets are likely to open on a flat to negative note tracking global markets, SGX Nifty is trading @ 8338 (+42 Points).

On Tuesday Nifty future closed @ 8352 and now its trading @ 8343 so we can expect a flat to negative opening on cards.

Nifty on hourly chart gave a Bearish RSI Classic Divergence and a break below 8320 - 8300 will open doors for bears.

Areas to watch out :
Supports @ 8320 - 8300 - 8260 - 8230
Resistance @ 8370 - 8400 - 8460 - 8500

Bias will change to Negative if Nifty closes below 8320 - 8300 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Team ATC.

Negative close!!!

Markets are likely to open on a weak note tracking global markets, SGX Nifty is trading @ 8365 (-27 Points)

After 6 consecutive positive close, Nifty gave Negative close yesterday and today's opening looks like it will be weak opening.

Negative candle on daily charts & Negative Candle Divergence on hourly chart suggesting that there might be halt at up move and we can expect Nifty to come down till 8330 - 8300 with resistance near by 8370 - 8400.

Areas to watch out :
Supports @ 8350 - 8300 - 8260 - 8230
Resistance @ 8370 - 8400 - 8460 - 8500

Bias will change to Negative if Nifty closes below 8320 - 8300 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Strong Opening!!!

Markets are likely to open on a strong note tracking global markets, SGX Nifty is trading @ 8399 (41 Points)

On Friday Nifty created a high of 8356 and was unable to sustain above 8350 levels and closed at 8326. If Nifty closes above 8340 - 8360 then we can expect Nifty touching 8500 - 8550 levels.

However Nifty is trading in overbought zone on Hourly, Daily and weekly charts, Going long will not be advisable now. we will use the same strategy - Buy on dips with proper evidence on charts.

Areas to watch out :

Supports @ 8300 - 8240 - 8200 - 8150

Resistance @ 8340 - 8370 - 8400

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Overbought!!!

Markets are likely to open the 1st day of July flat tracking global markets, SGX Nifty is trading @ 8337 (1 Point)

Yesterday Nifty went above 8300 creating a high of 8308 and closed below 8300. Closing above 8300 - 8340 levels will help Nifty to 8370 - 8490 - 8530 levels cause this are the next levels of resistance.

However Nifty is trading in overbought zone on Hourly, Daily and weekly charts, Going long will not be advisable now. we will use the same strategy - Buy on dips with proper evidence on charts.

Areas to watch out :

Supports @ 8240 - 8200 - 8150

Resistance @ 8310 - 8340 - 8370

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.