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.