Markets are likely to open on a flat to positive note. SGX Nifty is trading 15 points higher.

Areas to watch out :

Supports @ 7450 - 7400 - 7370 - 7340
Resistance @ 7510 - 7550 - 7610 - 7640

As mentioned in the last post that Nifty is trading at daily resistance zone and RSI is also overbought. Yesterday we saw some Nifty came down by 80 points and close @ 7460.

Nifty on daily charts showed some weakness and RSI gave a Negative Classic Divergence at daily resistance of 7570 - 7610 levels.

The view will change to Negative for short term if Nifty breaks 7420 - 7400 levels with supports near by 7370 - 7340 - 7300 levels and resistance near by 7510 - 7570 - 7610.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur Shah 

Education Instructor

Wait and watch!!!

Personal View : Mayur Shah Education Instructor

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading 9 points higher.

View remains same as its trading at daily resistance of 7570-7610 and RSI is also in Overbought area.

Short-Medium Term View : The upward journey is likely to continue until and unless Nifty closes below 7500 - 7400 mark. Will update the view whenever we get proper evidence on charts.

Bias remains positive for Nifty and buying on dips will be advisable.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur.

Opening with a bang!!!

Personal View : Mayur Shah Education Instructor

Nifty is likely to witness a strong opening as SGX Nifty is trading 60 points higher.

Markets last week ended flat with Nifty managed to closed above 7500, However its still trading at daily resistance of 7600 - 7560 levels. Going long will be not advisable now as its trading in the Overbought area.

Short-Medium Term View : The upward journey is likely to continue until and unless Nifty closes below 7500 - 7400 mark. Will update the view whenever we get proper evidence on charts.

Bias remains positive for Nifty and buying on dips will be advisable.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur. S

Might be a pause for Bulls!!!

Personal View : Mayur Shah Education Instructor

Nifty was trading in the overbought area and was trading at daily resistance of 7560-7600 levels and its closed below 7500 mark.

Bulls trade with strict stoploss as it have given a Negative Candle Divergence on daily chart and a break below 7440 - 7420 levels will lead Nifty to fall down till 7390 - 7350 - 7300 levels.

Bias will be Negative if Nifty break 7400 and settles below it for some time.

Trade with Stoploss and with Proper Money Management.

Regards,
Mayur

Bulls victory!!!

Personal View : Mayur Shah Education Instructor

Nifty managed to closed yesterday above Rickshaw man candlestick pattern high i.e., 7527, which is a good sign for Bulls going ahead. However its overbought on daily charts so buying on dips will be advisable.

Immediate hurdle for Nifty will be at 7570-7610 levels, Now we have to wait and watch for taking position in Nifty.

Bias remains positive until Nifty closes below 7400 levels for short term. For Intraday trades buying on dips will be advisable

Trade with Stoploss and with Proper Money Management.

Regards,
Team ATC.

Wait and watch!!!

Personal View : Mayur Shah Education Instructor

Yesterday Nifty surpassed 7500-7520 however unable to sustain above these levels and closed below 7500 mark. Also it dint break the crucial support of 7445-7440.

Yesterday's candle on daily chart is a Rickshaw Man candlestick pattern, Its a indecisive Candlestick pattern. A break above yesterday's high (7520-7530) or below yesterday's low (7442-7440 levels) will decide the further market trend.

A break above 7520-7530 will lead nifty to 7560-7610 levels and a break below 7445-7440 levels will be negative with supports near 7410-7400-7380 levels.

Bias will be wait and watch and let price tell us the direction it want to go.

Trade with Stoploss and with Proper Money Management.
Regards,
Team ATC.

Break toh banta hai!!!

Personal View : Mayur Shah Education Instructor

Nifty is trading at daily resistance of 7500 - 7520, a break below 7445-7440 levels will be negative for Intraday with supports near 7410-7400-7380 levels.

Bias for Nifty is still positive with resistance @ 7520 - 7560 - 7600 and key supports @ 7440 - 7400 - 7340

Buying on dips will be advisable as it trading a crucial resistance levels.

Trade with Stoploss and with Proper Money Management.

Regards,
Team ATC.