13th The Friday!!!

Hello everyone,

History says 13th the Friday is a day where markets fall most of the time.

13 Dec 2013 - 47

13 Jun 2014 - 136

13 Feb 2015 - 76

13 Mar 2015 - 202

13 Nov 2015 - 13

13 May 2016 - 100

13 Jan 2017 - 88

13 Oct 2017 - Nifty???

So let's check whether history repeats or not.

Regards,

Mayur Shah.

Belt hold on daily chart!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 10035 (-5 Points)

Markets yesterday on daily chart created a Belt Hold Pattern followed by Bearish Engulfing line and a break below 10000 – 9990 will open doors for 9950 – 9900 levels with resistance can be seen @ 10090 - 10150

Bias will change to Negative if Nifty sustain below 10000.

Areas to watch out
Supports @ 10000 - 9940 – 9900 – 9850 - 9790
Resistance @ 10090 - 10150.

Regards,Mayur Shah.

Dark Cloud cover!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 9904 (+8 Points)

Nifty on hourly charts took resistance of Super Trend @ 9916 and closed @ 9870. Also on daily chart its gave a bearish candlestick pattern – Dark Cloud cover with RSI Candle divergence and a break below 9860 – 9850 will be negative for markets.

Bias will be wait and watch.

Areas to watch out

Supports @ 9850 - 9830 – 9800 - 9770 – 9700 – 9640 - 9580

Resistance @ 9900 - 9930 - 9950

Regards,

Mayur Shah.

Bulls are in party mood!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 9878 (+42 Points)

Day before yesterday there was a week signal on daily chart – Bearish Shooting star, yesterday prices dint broke low of the Shooting star and bounced back till 9824 and looks like the journey on upside will continue as SGX Nifty is trading 42 points up.

Bias remains positive and buy on dips will be advisable.

Areas to watch out
Supports @ 9770 – 9700 – 9640 - 9580
Resistance @ 9850 – 9900

Regards,
Mayur Shah.

Shooting Star @ top!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 9807 (+13.5 Points)

Nifty touched all time high of 9830 and closed @ 9786 yesterday, on Daily charts Nifty gave a Bearish Shooting star – candlestick pattern and a break below 9780 – 9770 will be negative for markets in near term with supports nearby 9700 – 9640.

Bias will change to Negative if Nifty sustain below 9780 - 9770 levels.

Areas to watch out

Supports @ 9770 – 9700 – 9640 - 9580

Resistance @ 9830 – 9850 – 9900

Regards,

Mayur Shah.

Classic -ve Divergence at Upper Channel!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 9697 (+3 Points)

Markets are trading at a upper channel resistance on hourly chart(Refer the image), also it has given a Classic Negative Divergence at channel resistance and break below 9660-9650 will lead Nifty towards lower channel support.

Areas to watch out
Supports @ 9630 - 9600 - 9570 - 9550 – 9520
Resistance @ 9700 - 9750

Regards,
Mayur Shah.

Its friday!!!

Hi All,

Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 9671 (+38 Points)

Nifty went below 9600 levels yesterday but could not sustain below it and bounced back till 9621 and closed @ 9616.

Markets may open positive and may touch all time high that’s what SGX Nifty is suggesting and then we have see whether is sustains above 9650 – 9660 levels or not. Today’s closing will be important for markets going ahead if it closes above 9650 then we can expect new highs in the coming week and if it closes below 9590 – 9580 then there will be weakness in the up move.

Areas to watch out

Supports @ 9600 - 9580 - 9550 – 9520

Resistance @ 9650 - 9700

Regards,

Mayur Shah.

Traffic Signal!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 9626 (-11 Points)

Yesterday markets went above 9630 but took resistance @ 9650 and closed @ 9621 gave a candle divergence on daily and hourly charts.

Break below 9610 – 9600 will be negative for markets in short term with supports near 9550 – 9520 and resistance near 9650 – 9660.

Bias will change to negative for short term if Nifty breaks and sustain below 9600.

Areas to watch out

Supports @ 9600 - 9550 - 9520 – 9490 – 9430 - 9380

Resistance @ 9650 - 9700

Regards,

Mayur Shah.

Idhar chala kabhi udhar chala!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 9410 (+17 Points)

Markets took resistance of 9450 yesterday and tanked by 52 points, However it bounced a little from crucial support of 9370 and closed @ 9381 and gave a Positive Classic Divergence on hourly charts which will triggered when Nifty breaks 9440 – 9450 levels and a Break below 9390 – 9370 will open doors for bears with next supports nearby 9300 – 9270 and resistance can be seen near 9480 – 9510.

Bias will be wait and watch for a break on either side.

Areas to watch out

Supports @ 9370 – 9300 - 9270

Resistance @ 9450 - 9480 – 9530 - 9550

Regards,

Mayur Shah.

Couple of Bearishness!!!

Hi All,

 

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 9466(+32 Points)

Markets yesterday tanked by 95 points and gave few negative indications on charts.

On daily chart there are two Negative Candlestick patterns one on 17-May – Bearish Hanging man and other on 18-May Shooting Star which indicates there a stop on the up move until Nifty closes above 9530-9540 levels.

On weekly charts also Nifty is suggesting a halt at the up move and if Nifty close below 9400 today then we can expect selling pressure in the coming weeks.

Bias will be wait and watch.

Areas to watch out

Supports @ 9400 – 9370 – 9320 - 9280

Resistance @ 9480 – 9530 - 9550

Regards,

Mayur Shah.

Bulls & Bears flirting with each other!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 9349(+3 Points)

On daily charts there’s a Bearish candlestick pattern - Engulfing Line with RSI classic Negative Divergence will have to wait for Nifty to break 9270 – 9260 and if it sustains below 9260 then we can expect a further fall till 9210 – 9140 – 9090 levels and a break above 9380 – 9400 will be positive for Nifty.

Bias will wait and watch for either side breakout.

Areas to watch out

Supports @ 9270 - 9250 – 9190 - 9130

Resistance @ 9360 - 9380 – 9400 - 9450

Regards,

Mayur Shah.

Bear's pulling up their shocks!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 9342(+25 Points)

As mentioned in the last post that there’s a Hanging man candlestick pattern on daily chart and a break below 9325 – 9320 will open doors for bear, On Friday markets open positive and then it broke 9325-9320 levels and created a low of 9272 and closed @ 9285 giving one more Bearish signal on daily charts – Bearish Engulfing Line and now a break below 9280 – 9270 will open doors for bears till 9210 – 9140 – 9080 levels with resistance near 9360 - 9380

Bias will change to negative if Nifty sustains below 9270 – 9250 levels.

Areas to watch out
Supports @ 9270 - 9250 – 9190 - 9130
Resistance @ 9360 - 9380 – 9400 - 9450

Regards,
Mayur Shah.

Hanging Man @ Resistance!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 9351 (-36 Points)

Bearish Hanging Man is formed on daily charts near resistance and a break below 9325 – 9320 will be Negative for markets with nearby supports @ 9300 – 9260.

Bias will sell on rise and buy on dips until Nifty stay between 9360 - 9260.

Areas to watch out
Supports @ 9300 - 9270 - 9250 – 9190 - 9130
Resistance @ 9370 – 9400 - 9450

Regards,Mayur Shah.

Rickshaw Man and -ve Classic divergence on 60mins!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 8728 (-6 Points).

After rallying 200+ points from Budget day low of 8537 till yesterday high of 8757, Nifty on daily charts gave a Indecisive candle – Rickshaw man. Break below 8685 or above 8757 will decide the future move.

However, its overbought on daily and hourly charts, so upside movement is limited with resistance nearby 8780 – 8810. Also on hourly charts there’s a classic RSI Negative Divergence which will triggered when Nifty breaks 8690 – 8680 levels with supports nearby 8600 – 8540.

Areas to watch out
Supports @ 8670 – 8610 - 8540
Resistance @ 8780 – 8810 - 8870.

Bias will change to Negative for Short term if Nifty breaks 8690 – 8680.

Regards,
Mayur Shah.

New year, New hopes!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 8177 (-7 Points).

Markets are likely to open on flat note on the first trading day of 2017.

New Year, New hopes for Market - Bullish Engulfing Line (Weekly charts).

Bullish Engulfing line + Candle Divergence(RSI) has occurred on weekly charts, Break above 8270 - 8300 will be positive for markets in medium term. If it breaks 8270 - 8300 then it will leads towards basing area resistance of 8500 - 8750 with supports nearby 7980 - 7880.

Areas to watch out

Supports @ 8150 - 8110 - 8060 - 8000

Resistance @ 8230 - 8280 - 8350

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

Regards,
Mayur Shah.