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NIFTY

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

CNX NIFTY (5,651.35)  -7.40  -0.13 %

Nifty as I said is bearish making a Lower top lower bottom Pattern.Any recoveries are meant to go short provided a topping pattern appears ( Don’t go short blindly at your fancy) Nifty closed below 5663 on a weekly basis reinforcing bearishness.

Weekly chart on the other hand is taking support at 50 week mav, which is equivalent to  250 dma. It is at 5629 ( see blue average in weekly chart).On a weekly chart a move below 5548 will give a first lower low and reinforce bearishness for coming weeks.

Use intra charts intensively to gauge market movement at this conjecture.

DAILY NIFTY

NSEIND

NIFTY WEEKLY

NSEINDweekly

NEXT POST  APRIL 2ND

NIFTY

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk

CNX NIFTY 5,694.40  -51.55  -0.90 %

Nothing much to say about daily NIFTY since it is following the expected path.Target of 5600 may be reached. Level of 5447 – 5526 is a strong support zone.

NSEIND

NIFTY

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

CNX NIFTY (5,745.95) -89.30  -1.53 %

NIFTY has confirmed the bearish shoulder head shoulder pattern on Daily charts and a close on a Weekly basis below 5663 will be very bearish for Weeks / months to come. If today’s fall was based solely on news, then expect sharp pullback tomorrow.But till market closes above 5971, it is not bullish.

NSEIND

NIFTY

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

CNX NIFTY (5,872.60)  -36.35  -0.62 %

Nifty is meandering around the necklines namely 5971 ( Inverted shoulder head shoulder – Bullish) and 5868 ( Bearish Shoulder head shoulder patterns) on the daily charts.A move above 5971 or below 5791 will decide the future trend. Look at the beauty of the top and bottom namely 5971 and 5791 —– only the middle numerals ( 7 and 9) are changed.

Nse Daily

WEEKLY NIFTY

Weekly Nifty is also making a Bearish Shoulder Head Shoulder pattern.The shortcoming here is that the bottom of the Head (Point No 2 ) is above the bottom of Left shoulder ( Point No 1 ).The right shoulder if formed properly and if neckline is broken i.e 5663, then there will be bearishness.Otherwise expect Nifty to touch 6111.Let us see how it spans.

NSEINDweekly

NIFTY

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

CNX NIFTY (5,908.95) + 57.75  + 0.99 %

NIFTY as mentioned is oscillating between the bearish and bullish Shoulder Head Shoulder pattern. Look for NIFTY to break and close above 5971 to be bullish.A move below 5663 is bearish.

NIFTY DAILY

 

NSEIND

NIFTY WEEKLY

NIFTY on weekly chart is showing ( Ignore the last red candle – that is for the current week) a Bullish engulfing pattern .Though this is not a perfect Engulfing pattern, it has stalled the downmove. Any move below 5663 is bearish.

NSEIND

 

 

 

NIFTY

DISCLAIMER: These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. While due care has been taken in preparing these notes/comments, no responsibility can be or is assumed for any consequences resulting out of acting on them.Trading in Stocks/Commodities/Futures Carry Risk.

CNX NIFTY (5,851.20) -62.90  -1.06 %

Nifty fell and is on expected lines.Only a close above 5971 will trigger the other pattern which I showed yesterday.Till then the Bearish Shoulder Head Shoulder pattern will hold sway.

NSEIND