Hammer on bears!!!

Hi All,

 

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8083(-19.50 Points).

On Friday Nifty closed 148 points high and Nifty managed to closed above 8100. After a series on Negative closing Nifty finally gave a hope for bulls.

On weekly charts Nifty gave a Hammer with Positive Candle Divergence which will triggered when Nifty goes above 8120 – 8130 mark with resistance nearby 8200 – 8270 – 8300 and supports nearby 7920 – 7900.

Areas to watch out

Supports @ 7920 – 7900 – 7850 - 7800

Resistance @ 8130 - 8200 - 8270

Bias will change to positive for Short term if Nifty breaks 8120 – 8130 and stay above it.

Regards,

Mayur Shah.

RAY OF HOPE - BULLS!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8224 (+109 Points)

Yesterday Nifty opened marginally lower and then we saw a huge sell off which lead Nifty to touch 8100 and closed above 8100 levels.

On hourly charts Nifty showed some relief to bulls – Classic Positive Divergence which will triggered when Nifty breaks 8200 – 8230 levels with Next resistance can be seen nearby 8270 – 8350 – 8400. Since IV is near about 20% we can expect huge volatility in the near team.

Areas to watch out
Supports @ 8100 – 8070 - 8000
Resistance @ 8230 – 8270 – 8300 - 8350

Bias will change to Positive if Nifty sustains above 8200 – 8230 for short term.

Trade with Strict stoploss and with Proper Money Management.

Regards
Mayur Shah.

Recovery time!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8498 (+44 Points).

Markets have recovered sharply from the lows of 8000 amid of Trump Win & Black Money curb. Yesterday Nifty saw a huge Intraday recovery of 430 points and looks like it will continue its upward journey and a weekly close above 8500 – 8600 will lead Nifty towards 8800 – 9000 levels in near team.

Areas to watch out

Supports @ 8390 – 8290 - 8170

Resistance @ 8550 – 8600 – 8630 - 8660

Bias remains positive and buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Divergence @ Gap Support!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8512 (+67 Points).

Markets broke all crucial levels last week 8500 - 8450 and touched 8400 on Friday and bounce sharply from 8400 and gave a close above 8430.

On hourly chart Classic Positive Divergence in occurred which will triggered when Nifty breaks 8470-8480 with resistance can be seen nearby 8550 - 8620 with supports nearby 8400 - 8350(Daily gap up support).

Areas to watch out
Supports @ 8400 – 8350 - 8280
Resistance @ 8550 – 8600 – 8630 - 8660

Bias will change to positive if Nifty breaks 8470-8480 for short term.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur Shah.

Wait and watch!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8492 (-27 Points).

Nifty continue its southward journey, yesterday Nifty was struggling 8530 - 8550 resistance and in the second half if went below 8500 mark and closed @ 8484.

Areas to watch out

Supports @ 8470 – 8410 - 8350

Resistance @ 8550 – 8600 – 8630 - 8660

Bias remains negative with wait and watch for proper signals.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Classic Positive Divergence!!!

Hi All,

Markets are likely to open on a flat to Negative note tracking global markets, SGX Nifty is trading @ 8518 (-20 Points).

Yesterday it opened below 8550 and traded below it throughout the day, it created a low of 8504.85 and close @ 8518. We can say that Nifty might take support @ 8500 (Physiological Support level).

Also on Hourly Chart Nifty gave a Classic Positive Divergence and a break above 8550 – 8555 will be positive for Nifty with
Resistance can be seen nearby 8600 – 8630 – 8660 and supports @ 8500 – 8480.

Areas to watch out
Supports @ 8500 – 8460 - 8400
Resistance @ 8550 – 8600 – 8630 - 8660

Bias will change to Positive if Nifty breaks 8550-8555 and stays above it for short term.

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

Mayur Shah.