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.