Triangle Breakout!!!

Hi All,

Markets are likely to open on a Flat to Negative note, tracking global markets, SGX Nifty is trading @ 8798 (-7 Points)

As mentioned in the last Update about Symmetrical Continuation Triangle formation on Daily chart which got a Breakout Yesterday when Nifty broke 8660 – 8700 levels.

The up move likely to continue till 8800 – 8850 levels until we see any reversal signal.

Areas to watch out

Supports @ 8700 – 8660 - 8620

Resistance @ 8760 – 8800 - 8840

Bias for Nifty remains positive with 8800 – 8840 targets in coming days, Buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Buy on Dips - Sell on Rise!!!

Hi All,

Markets are likely to open on a Positive note, tracking global markets, SGX Nifty is trading @ 8679 (+24 Points)

Markets went below the Trend Line support on daily charts but with low volume and it was trading at daily support zone of 8540 – 8470 and bounced back from these levels and gave a close above 8600.

Since it has bounced back from support and closed above 8600 we can expect Nifty to move upwards till 8630 - 8650 – 8700 mark.

Areas to watch out
Supports @ 8570 - 8540 - 8500 - 8470
Resistance @ 8650 - 8680 - 8730 - 8760 - 8800

Bias for Nifty will be positive if Nifty manage to stay above 8660 – 8700.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Bullish Continuation Symmetrical Triangle

Hi All,

Markets are likely to open on a Positive note, tracking global markets, SGX Nifty is trading @ 8660 (+19 Points)

Yesterday Nifty tanked by 60 points and closed nearby Trend support.

Bullish Continuation Symmetrical Triangle has formed on daily charts (Please refer the chart), Break above 8660 - 8700 will lead Nifty towards 8850 - 8900 levels in coming days.

Areas to watch out

Supports @ 8570 - 8540 - 8500 - 8470

Resistance @ 8650 - 8680 - 8730 - 8760 - 8800

We Expect Nifty to bounce from the Trend Line Support and break above 8660 - 8700 will be a positive sign for Nifty going ahead

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Volatility to continue!!!

Hi All,

Markets are likely to open on a flat to Negative note, tracking global markets, SGX Nifty is trading @ 8614 (-13 Points)

Markets are trading in a range of 8730 - 8470 and a break below 8470 and above 8730 will decide the future move.

Areas to watch out
Supports @ 8600 - 8540 - 8500 - 8470
Resistance @ 8650 - 8680 - 8730 - 8760 - 8800

Bias for markets will be volatile as FNO contract is going to expiry on Thursday.

Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

RSI Divergence @ Resistance!!!

Hi All,

Markets are likely to open on a flat to Negative note, tracking global markets, SGX Nifty is trading @ 8672 (-11 Points),

On daily charts Nifty gave a Classic Negative Divergence which will triggered when Nifty breaks 8600 - 8590 levels with Supports nearby 8540 - 8470 and resistance near by 8700 - 8730

However, Markets are trading in a range of 8730 - 8470 and a break below 8470 and above 8730 will decide the future move.

Areas to watch out
Supports @ 8600 - 8540 - 8500 - 8470
Resistance @ 8730 - 8760 - 8800

Bias will change to Negative when Nifty breaks 8600 – 8590 levels  and watch for proper signal on charts and Trade with Strict stoploss and with Proper Money Management.

Regards,
Mayur S.

Wait and Watch!!!

Hi All,

Markets are likely to open on a flat to positive note, tracking global markets, SGX Nifty is trading @ 8707 (-10 Points) (* As per Friday’s future closing (8672) Nifty is likely to open positive with 20-25 points Higher)

Markets are trading in a range of 8760 - 8470 and a break below 8470 and above 8760 will decide the future move.

Areas to watch out

Supports @ 8600 - 8540 - 8500 - 8470

Resistance @ 8730 - 8760 - 8800

Bias will be wait and watch for proper signal on charts and Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.

Flat to positive start!!!

Hi All,

Markets are likely to open on a flat to positive note, tracking global markets, SGX Nifty is trading @ 8627 (+ 10 Points).

As said in the last update that Nifty has a support near 8540 - 8470 levels, Yesterday It took support @ 8540  and bounce from the support gave a close near to 8600. Sell on rise will be the strategy we should look forward with Resistance near 8680 - 8730.

Areas to watch out

Supports @ 8540 - 8500 - 8470

Resistance @ 8630 - 8690 - 8730

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur S.