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.

Volatility to continue!!!

Hi All,

Markets are likely to open on a flat to Negative note, tracking global markets, SGX Nifty is trading @ 8614 (-13 Points)

Markets are trading in a range of 8730 - 8470 and a break below 8470 and above 8730 will decide the future move.

Areas to watch out
Supports @ 8600 - 8540 - 8500 - 8470
Resistance @ 8650 - 8680 - 8730 - 8760 - 8800

Bias for markets will be volatile as FNO contract is going to expiry on Thursday.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

RSI Divergence @ Resistance!!!

Hi All,

Markets are likely to open on a flat to Negative note, tracking global markets, SGX Nifty is trading @ 8672 (-11 Points),

On daily charts Nifty gave a Classic Negative Divergence which will triggered when Nifty breaks 8600 - 8590 levels with Supports nearby 8540 - 8470 and resistance near by 8700 - 8730

However, Markets are trading in a range of 8730 - 8470 and a break below 8470 and above 8730 will decide the future move.

Areas to watch out
Supports @ 8600 - 8540 - 8500 - 8470
Resistance @ 8730 - 8760 - 8800

Bias will change to Negative when Nifty breaks 8600 – 8590 levels  and watch for proper signal on charts and Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Wait and Watch!!!

Hi All,

Markets are likely to open on a flat to positive note, tracking global markets, SGX Nifty is trading @ 8707 (-10 Points) (* As per Friday’s future closing (8672) Nifty is likely to open positive with 20-25 points Higher)

Markets are trading in a range of 8760 - 8470 and a break below 8470 and above 8760 will decide the future move.

Areas to watch out

Supports @ 8600 - 8540 - 8500 - 8470

Resistance @ 8730 - 8760 - 8800

Bias will be wait and watch for proper signal on charts and Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Flat to positive start!!!

Hi All,

Markets are likely to open on a flat to positive note, tracking global markets, SGX Nifty is trading @ 8627 (+ 10 Points).

As said in the last update that Nifty has a support near 8540 - 8470 levels, Yesterday It took support @ 8540  and bounce from the support gave a close near to 8600. Sell on rise will be the strategy we should look forward with Resistance near 8680 - 8730.

Areas to watch out

Supports @ 8540 - 8500 - 8470

Resistance @ 8630 - 8690 - 8730

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Sell on Rise!!!

Hi All,

Markets are likely to open on a flat note, tracking global markets, SGX Nifty is trading @ 8594 (+ 4 Points).

Yesterday Nifty opened positive and we saw a U turn after the opening, Nifty closed 102 points negative @ 8568.

As said on daily chart Nifty gave a candle Negative divergence with a Indecisive candle on 8-Aug and followed by a big red body(Bearish Engulfing Line) which indicate there might be a stop in the up-move. We got the entry yesterday when Nifty broke 8640 - 8630 levels and then Nifty tanked to 8570, Next supports for Nifty can be seen near by 8540 - 8470.

Areas to watch out
Supports @ 8550 - 8500 - 8470
Resistance @ 8610 - 8690 - 8730

Bias for Nifty will be sell on rise with reversal above 8700 - 8730.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Bearish Engulf!!!

Hi All,

Markets are likely to open on a positive note, tracking global markets, SGX Nifty is trading @ 8726 (+19 Points).

The much-awaited monetary policy was a non-event yesterday, Where the Repo Rates were unchanged and because of this markets came down till 8638 and bounced in the second half giving a close above 8660 at 8671.

In the last update we mentioned that Nifty took support of super trend on hourly charts, 8700 - 8730 can be seen on charts soon.

On daily chart Nifty gave a candle Negative divergence with a Indecisive candle on 8-Aug and followed by a big red body(Bearish Engulfing Line) which indicate there might be a stop in the up-move. However the entry will happen only when Nifty breaks 8640 - 8630 levels with supports nearby 8590 - 8520.

Areas to watch out :

Supports @ 8680 - 8630 - 8580 - 8560

Resistance @ 8730 - 8770 - 8800 - 8850

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Trend Retracement!!!

Hi All,

Market View :

Nifty looks positive as it took support at Super Trend on Hourly charts with supports near by 8640 - 8620 and resistance can be seen at 8710 - 8730 - 8750. CMP 8680

Trade with Strict stoploss and with Proper Money Management.

Regards
Mayur S.

Indecisive Doji!!!

Hi All,

Markets are likely to open on a flat to positive note, tracking global markets, SGX Nifty is trading @ 8741 (+10 Points).

Yesterday markets traded in a narrow range - 8723-8697. On daily charts Nifty has created a small indecisive candle. So the view will be wait and watch till we see anytime on charts.

All eyes will be on RBI today.

Areas to watch out :

Supports @ 8690 - 8650 - 8620 - 8580 - 8560

Resistance @ 8730 - 8770 - 8800 - 8850

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Bulls!!!

Hi All,

Markets are likely to continue it Northward journey, tracking global markets, SGX Nifty is trading @ 8760 (+57 Points).

Last week markets closed on a strong note @ 8683 and looks like it will continue it upward journey.

As Nifty is likely to break 8700 - 8720 resistance mark, now we have to wait and watch to see what happens next. Next crucial resistance can be seen near by 8760 - 8800 - 8850 levels.

Areas to watch out :

Supports @ 8650 - 8620 - 8580 - 8560

Resistance @ 8720 - 8770 - 8800 - 8850

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Buys on dips and Sell on rise!!!

Hi All,

Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 8648 (+44 Points).

Yesterday Nifty opened positive touching day high of 8610 but due to selling pressure it came down till 8519 in morning and then traded in a range and in last half hour we saw buying at support which led Nifty to closed above 8560 mark. Global Markets and liquidity can be two important factors which will affects markets.

Overall Nifty is basing on daily charts from 8470 - 8710, so buy near supports and sell near resistance with proper evidence on charts.

Areas to watch out :

Supports @ 8550 - 8500 - 8470 - 8430 Resistance @ 8610 - 8670 - 8720 - 8770 - 8800

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Nifty may recover on GST Bill!!!

Hi All,

Sensex, Nifty may recover on GST Bill; global cues supportive, SGX Nifty is trading @ 8629 (+45 Points).

Yesterday markets broke 8590 - 8570 which was crucial support for Nifty. It triggered Negative Spinning Top on daily charts yesterday.

8520 - 8470 are crucial supports now and strategy we will apply will be sell on rise with resistance nearby 8670 - 8720.

Areas to watch out :

Supports @ 8500 - 8470 - 8430

Resistance @ 8670 - 8720 - 8770 - 8800

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Negativity to continue!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8632 (-27 Points).

Market opened positive yesterday but it gave all the gains in the second half and closed @ 8622.

View remains same as posted yesterday (2-Aug-2016), Break below 8590 - 8570 will open doors for Bears with supports near by 8500 - 8470.

Areas to watch out :

Supports @ 8590 - 8570 - 8500 - 8470

Resistance @ 8670 - 8720 - 8770 - 8800

Bias will change to Negative if Nifty breaks 8590 - 8570.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Spinning Top!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8668 (-19 Points).

Personal View : Mayur Shah Educational Instructor

Yesterday markets crossed 8700 and created a high of 8711 but was unable to sustain above 8700 and closed @ 8636.

On daily chart Nifty has created a Bearish Spinning Top with RSI Classic Negative Divergence which indicates a halt at uptrend. Break below 8590 - 8570 will open doors for Bears with supports near by 8500 - 8470.

Areas to watch out :
Supports @ 8590 - 8570 - 8500 - 8470
Resistance @ 8670 - 8720 - 8770 - 8800

Bias will change to Negative if Nifty breaks 8590 - 8570.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Evening star on Hourly charts!!!

Evening star at Top

Nifty went above 8700 created a high of 8711 but unable to sustain above 8700.

On Hourly Charts - Candle stick pattern formed - Evening Star which will get triggered once Nifty breaks 8630 - 8620.

Supports can be seen near by 8590 - 8570 - 8530
Resistance can be seen near by 8700 - 8720

Trade with strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Wait and Watch!!!

Hi All,

Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 8727 (+40 Points).

Markets are likely to open green today tracking global markets .

On Friday we saw markets are trading sideways in range from 8625 - 8670, Going ahead a decisive break above 8680 or below 8620 will decide the move.

Buy will be wait and watch as Nifty is trading in overbought area on daily and hourly charts.

Areas to watch out :

Supports @ 8620 - 8570 - 8520 - 8470

Resistance @ 8680 - 8700 - 8750 - 8830

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur s.