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.

Bearish Engulfing candlestick pattern!!!

Hi All,

Markets are likely to open on a flat to positive note tracking global markets, SGX Nifty is trading @  8786 (+15 Points)

Nifty yesterday went above 8800 but was unable to sustain above 8800 and came down to 8736 and then traded in a range throughout the day – 8735-8765.

On daily charts Nifty gave a Bearish Engulfing candlestick pattern on daily charts @ a daily gap down resistance of 8810 – 8822.  On hourly charts Nifty is gave a candle divergence and a break below 8730 – 8720 will be Negative for Nifty in short term with Support can be seen at 8640 – 8600 – 8550 and resistance nearby 8800 - 8820.

Areas to watch out

Supports @  8730 – 8690 - 8640

Resistance @  8800 – 8830 - 8870.

Bias will changed to Negative if Nifty breaks 8730 – 8700 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

All fall down!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8592 (-51 Points)

Indian shares, bonds and rupee fell sharply on Thursday after India attacked suspected militants in Pakistan, raising political tensions just days before the central bank is set to hold a policy review. The S&P BSE Sensex and CNX Nifty fell 1.64%-1.76%.

Yesterday Nifty opened positive but took resistance of Super Trend @ 8790 – 8800 and came down drastically till next area of support of 8570 – 8520 and closed above 8590.

As said in the last update that the view will change to Negative if Nifty breaks 8680 – 8640 levels, Yesterday Nifty broke 8680 – 8640 and even 8600 levels forming a Big Bearish Candle on daily chart with Super Trend change to Negative and Yesterday’s candle closed below lower Bollinger band which is sign of worry going ahead.

Looking at the Monthly chart, Today closing is important, If Nifty closes below 8550 – 8500 levels then Medium Term trend (3-5 months) will be bearish.

Areas to watch out

Supports @ 8570 – 8520 - 8470

Resistance @ 8600 – 8670 – 8700 – 8760.

Bias changed to Negative and sell on RISE will be the strategy to be trade on.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

+ve Classic Divergence!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @  8703 (-20 Points)

On Hourly charts Nifty is now trading in an oversold area and trading at a basing area support of 8750 – 8680, Also there is a Classic Positive Divergence on hourly charts which will trigger when Nifty breaks 8760-8780 levels with Supports nearby 8680 – 8640.  

Areas to watch out

Supports @  8680 – 8640 - 8600

Resistance @  8780 – 8810 - 8830

Bias will change to Positive if Nifty breaks 8760 – 8780 levels.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.

Gap up Opening!!!

Hi All,
Markets are likely to open on a positive note tracking global markets, SGX Nifty is trading @ 8821 (+43 Points)
As said in the last update that a break above 8740-8745 will be positive for markets, Yesterday it went above 8740-8745 created a high of 8751 and today’s opening look like it will be nearby 8780-8790 mark.

Today’s closing is important for Markets, if it closes above 8820 – 8830 then it will positive for markets and if it closes below 8700 – 8680 then Negativity to continue.
On hourly charts Super Trend resistance is @ 8780 – 8790 mark, so we have to wait and watch for 1-2 hours. If Nifty hourly candle closes above 8790 then the movement will continue and if it fails to close above 8780 -8790 then we may see sell off in second half.
Areas to watch out
Supports @ 8680 – 8640 - 8600
Resistance @ 8750 – 8800 - 8860
Bias will be wait and watch for proper signals on charts.
Trade with Strict stoploss and with Proper Money Management.
Regards,
Mayur Shah.