All fall down!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8592 (-51 Points)

Indian shares, bonds and rupee fell sharply on Thursday after India attacked suspected militants in Pakistan, raising political tensions just days before the central bank is set to hold a policy review. The S&P BSE Sensex and CNX Nifty fell 1.64%-1.76%.

Yesterday Nifty opened positive but took resistance of Super Trend @ 8790 – 8800 and came down drastically till next area of support of 8570 – 8520 and closed above 8590.

As said in the last update that the view will change to Negative if Nifty breaks 8680 – 8640 levels, Yesterday Nifty broke 8680 – 8640 and even 8600 levels forming a Big Bearish Candle on daily chart with Super Trend change to Negative and Yesterday’s candle closed below lower Bollinger band which is sign of worry going ahead.

Looking at the Monthly chart, Today closing is important, If Nifty closes below 8550 – 8500 levels then Medium Term trend (3-5 months) will be bearish.

Areas to watch out

Supports @ 8570 – 8520 - 8470

Resistance @ 8600 – 8670 – 8700 – 8760.

Bias changed to Negative and sell on RISE will be the strategy to be trade on.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

+ve Classic Divergence!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @  8703 (-20 Points)

On Hourly charts Nifty is now trading in an oversold area and trading at a basing area support of 8750 – 8680, Also there is a Classic Positive Divergence on hourly charts which will trigger when Nifty breaks 8760-8780 levels with Supports nearby 8680 – 8640.  

Areas to watch out

Supports @  8680 – 8640 - 8600

Resistance @  8780 – 8810 - 8830

Bias will change to Positive if Nifty breaks 8760 – 8780 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Gap up Opening!!!

Hi All,
Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 8821 (+43 Points)
As said in the last update that a break above 8740-8745 will be positive for markets, Yesterday it went above 8740-8745 created a high of 8751 and today’s opening look like it will be nearby 8780-8790 mark.

Today’s closing is important for Markets, if it closes above 8820 – 8830 then it will positive for markets and if it closes below 8700 – 8680 then Negativity to continue.
On hourly charts Super Trend resistance is @ 8780 – 8790 mark, so we have to wait and watch for 1-2 hours. If Nifty hourly candle closes above 8790 then the movement will continue and if it fails to close above 8780 -8790 then we may see sell off in second half.
Areas to watch out
Supports @ 8680 – 8640 - 8600
Resistance @ 8750 – 8800 - 8860
Bias will be wait and watch for proper signals on charts.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur Shah.

Trading Flat!!!

Hi All,

Markets are likely to open on a Flat to positive note tracking global markets, SGX Nifty is trading @ 8755 (+7 Points) (Monday Nifty future closed @ 8748, today SGX Nifty is trading @ 8755 (8755-8748 = +7)

Personal View : Mayur Shah Educational Instructor.

After a gap down opening on Monday Nifty traded sideways throughout the day from 8698 to 8746. Now its trading @ daily basing area support of 8470 – 8730, so going short now will be not be advisable and we will sell on rise with proper evidence on charts.

Areas to watch out

Supports @ 8680 – 8640 - 8600

Resistance @ 8750 – 8800 - 8860

Bias will change to Negative for Medium term if Nifty breaks 8530 – 8480 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Hawa badal rahi hai!!!

Hi All,

Markets are likely to open Sharp Negative tracking global markets, SGX Nifty is trading @ 8763 (-144 Points)

Shooting Star on Weekly, Candle Divergence on daily charts, Classic Negative Divergence on hourly charts and that to all this as Major Resistance of 8940 – 9120. All this was suggesting a halt at Uptrend. Next Major supports on weekly charts are nearby 8570 – 8500.

Today’s opening will be Sharp Negative as SGX Nifty is trading -140 points and Asian markets down more than 1% due to sharply lower finish for major US indexes on Friday amid concerns central banks will become less accommodative.

Accommodative Monetary Policy - When a central bank (such as the Federal Reserve) attempts to expand the overall money supply to boost the economy when growth is slowing (as measured by GDP). This is done to encourage more spending from consumers and businesses by making money less expensive to borrow by lowering the interest rate.

Areas to watch out

Supports @ 8760 – 8680 – 8640 - 8600

Resistance @ 8900 – 8950 - 8970

Bias will change to Negative for Medium term if Nifty breaks 8530 – 8480 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Hourly Negative Classic RSI Divergence!!!

Hi All,

Markets are likely to open on a  flat to Negative note tracking global markets, SGX Nifty is trading @ 8950 (-26 Points)

As said in the last update that Nifty is trading at Resistance zone of 8940 – 9120, Yesterday it took support @ 8900 – 8880 and bounce back till 8950.

On hourly charts Nifty created a Negative Classic RSI Divergence and break below 8900 – 8880 levels will open doors for bears in short term with next supports at 8850 – 8820 & resistance can be seen @ 8950 – 8970.

Areas to watch out

Supports @ 8900 - 8850 – 8800 - 8750

Resistance @ 8970 – 9000 – 9050 - 9120

Bias for Nifty will change to Negative if it breaks 8900 – 8880 levels..

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

-ve Candle Divergence!!!

Hi All,

Markets are likely to open on a flat to Negative note tracking global markets, SGX Nifty is trading @ 8950 (-9 Points)

As said in the last update that Nifty is trading at Resistance zone of 8940 – 9120, Yesterday it created a High of 8966 and then came down to 8920, traded in a tight range of 8920 – 8960.

On daily Charts Nifty gave a RSI candle Divergence which indicates that the move would be on hold if Nifty breaks yesterday low i.e., 8910-8900, and close below 8850 – 8800 will be Negative for Nifty with next supports nearby 8750 – 8700.

Areas to watch out

Supports @ 8900 - 8850 – 8800 - 8750

Resistance @ 8970 – 9000 – 9050 - 9120

Bias for Nifty will change to Negative if it breaks 8920 – 8900 levels..

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Festivals on mind and Bulls on Stock market!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8987 (21 Points)

Festivals on mind and Bulls on Stock market.

Markets closed 130 points higher yesterday, achieving the targets of Symmetrical Triangle on daily charts.

Nifty gave 31% returns from the low of Feb 2016 (6825) without a major correction on the charts. Put Call Ratio is a 1.3 and Nifty is trading at weekly resistance of 8940 – 9120 levels. Also it is overbought in Daily , weekly charts.

However there is now sigh of weakness as of now but longs traders book profit in long trades or trail your stoploss as its trading in Resistance Zone on weekly charts.

Areas to watch out

Supports @ 8850 – 8800 - 8750

Resistance @ 8960 – 9000 – 9050 - 9120

Bias for Nifty remains positive until Nifty stays above 8750 – 8700, Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Multiple Negative Classic Divergence!!!

Hi All,

Markets are likely to open on a Negative note, tracking global markets, SGX Nifty is trading @ 8805 (-19 Points)

Multiple Negative Classic Divergence on Hourly charts indication weakness in the momentum, Break below 8760 – 8740 will be Negative for markets with support nearby 8710 – 8670 and resistance @ 8820 – 8840.

Areas to watch out

Supports @ 8755 - 8700 – 8660 - 8620

Resistance @ 8800 – 8840 - 8900

Bias will change to Negative if Nifty breaks 8750-8730.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Negative Divergence!!!

Hi All,

Markets are likely to open on a Flat to Negative note, tracking global markets, SGX Nifty is trading @ 8842 (-2 Points)

Personal View : Mayur Shah Education Instructor.

As mentioned in the last Update about Symmetrical Continuation Triangle formation on Daily chart which got a Breakout when Nifty broke 8660 – 8700 levels.

Yesterday Nifty went above 8800 creating a high of 8819 but was not able to close above the physiological level 8800 (Close @ 8786).

Up move will continue as there is not selling signal on daily charts, However on Hourly charts Nifty gave Classic Negative Divergence which will trigger when Nifty breaks 8770 – 8760 (Immediate support) with Supports nearby 8730 – 8680 – 8640 and resistance can be seen at 8820 – 8840.

Areas to watch out

Supports @ 8700 – 8660 - 8620

Resistance @ 8760 – 8800 - 8840

Bias for Nifty remains positive until Nifty stays above 8700 – 8640, Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.