Rickshaw Man and -ve Classic divergence on 60mins!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 8728 (-6 Points).

After rallying 200+ points from Budget day low of 8537 till yesterday high of 8757, Nifty on daily charts gave a Indecisive candle – Rickshaw man. Break below 8685 or above 8757 will decide the future move.

However, its overbought on daily and hourly charts, so upside movement is limited with resistance nearby 8780 – 8810. Also on hourly charts there’s a classic RSI Negative Divergence which will triggered when Nifty breaks 8690 – 8680 levels with supports nearby 8600 – 8540.

Areas to watch out
Supports @ 8670 – 8610 - 8540
Resistance @ 8780 – 8810 - 8870.

Bias will change to Negative for Short term if Nifty breaks 8690 – 8680.

Regards,
Mayur Shah.

New year, New hopes!!!

Hi All,

Markets are likely to open on a flat note tracking global markets, SGX Nifty is trading @ 8177 (-7 Points).

Markets are likely to open on flat note on the first trading day of 2017.

New Year, New hopes for Market - Bullish Engulfing Line (Weekly charts).

Bullish Engulfing line + Candle Divergence(RSI) has occurred on weekly charts, Break above 8270 - 8300 will be positive for markets in medium term. If it breaks 8270 - 8300 then it will leads towards basing area resistance of 8500 - 8750 with supports nearby 7980 - 7880.

Areas to watch out

Supports @ 8150 - 8110 - 8060 - 8000

Resistance @ 8230 - 8280 - 8350

Bias will be buy on dips with proper confirmation on charts.

Regards,
Mayur Shah.

Classic Positive Divergence!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8052 (-25 Points).

Nifty was trading flat throughout the day but in last one hour Nifty went below 8060 gave a low of 8053 and closed above 8061.

Nifty is trading @ daily support area of 8085 – 8050, on hourly charts it has given a Positive Classic Divergence which will trigger when Nifty breaks 8110 – 8120 levels with next resistance will be around 8200 – 8230 and supports @ 8050 – 8030.

Areas to watch out

Supports @ 8050 – 8030 - 8000

Resistance @ 8110 - 8135 - 8160 - 8230 - 8250 - 8280

Bias will change to positive if Nifty sustains above 8110 – 8140 levels.

Regards,

Mayur Shah.

Volatility to continue!!!

Hi All,

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8096 (-17 Points).

Nifty touched 8250 last week but dint sustain above it and gave a weekly closing @ 8086. On weekly chart after a Hammer there a Huge selling pressure candle which occurred last week.

Going ahead If Nifty has to move up then it has to close above 8250 - 8300 levels else markets will not sustain at higher levels.

The Indian market is likely to be cautious as global markets start the week on a cautious note post Italian vote referendum.

Markets are likely to be volatile this month as RBI Quarterly monetary policy is on 7th December and then FED meeting.

Areas to watch out

Supports @ 8050 – 8000 – 7950 - 7920

Resistance @ 8160 - 8200 - 8250 – 8300 – 8320 - 8400

Bias will be wait and watch for proper indication on charts.

Regards,

Mayur Shah.

Hammer on bears!!!

Hi All,

 

Markets are likely to open on a Negative note tracking global markets, SGX Nifty is trading @ 8083(-19.50 Points).

On Friday Nifty closed 148 points high and Nifty managed to closed above 8100. After a series on Negative closing Nifty finally gave a hope for bulls.

On weekly charts Nifty gave a Hammer with Positive Candle Divergence which will triggered when Nifty goes above 8120 – 8130 mark with resistance nearby 8200 – 8270 – 8300 and supports nearby 7920 – 7900.

Areas to watch out

Supports @ 7920 – 7900 – 7850 - 7800

Resistance @ 8130 - 8200 - 8270

Bias will change to positive for Short term if Nifty breaks 8120 – 8130 and stay above it.

Regards,

Mayur Shah.

RAY OF HOPE - BULLS!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8224 (+109 Points)

Yesterday Nifty opened marginally lower and then we saw a huge sell off which lead Nifty to touch 8100 and closed above 8100 levels.

On hourly charts Nifty showed some relief to bulls – Classic Positive Divergence which will triggered when Nifty breaks 8200 – 8230 levels with Next resistance can be seen nearby 8270 – 8350 – 8400. Since IV is near about 20% we can expect huge volatility in the near team.

Areas to watch out
Supports @ 8100 – 8070 - 8000
Resistance @ 8230 – 8270 – 8300 - 8350

Bias will change to Positive if Nifty sustains above 8200 – 8230 for short term.

Trade with Strict stoploss and with Proper Money Management.

Regards
Mayur Shah.

Recovery time!!!

Hi All,

Markets are likely to open on a Positive note tracking global markets, SGX Nifty is trading @ 8498 (+44 Points).

Markets have recovered sharply from the lows of 8000 amid of Trump Win & Black Money curb. Yesterday Nifty saw a huge Intraday recovery of 430 points and looks like it will continue its upward journey and a weekly close above 8500 – 8600 will lead Nifty towards 8800 – 9000 levels in near team.

Areas to watch out

Supports @ 8390 – 8290 - 8170

Resistance @ 8550 – 8600 – 8630 - 8660

Bias remains positive and buy on dips will be advisable.

Trade with Strict stoploss and with Proper Money Management.

Regards,

Mayur Shah.