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 (5,871.45) -44.85  -0.76 %

Nifty has formed a Harami pattern on Daily charts.In Japanese candlestick parlance , Harami means pregnant.See the Red inside bar within the previous Green Candlestick.Markets may stall at this juncture.But a sustained stay above 5925 , may negate the bearishness.Also Nifty has support at 5844.Strong resistance for Nifty is at 5971, if you remember previously also Nifty had been resisted at this level twice.

On the Weekly Chart, Nifty is weak because of a topping tail.Also if Nifty comes down for next 2-3 weeks, we may see a reversal Shoulder Head Shoulder pattern which can be bearish.More on weekly chart as market progresses.

NIFTY DAILY

NIFTY WEEKLY

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 ( 5,783.10) + 94.40  +1.66 %

Nifty has made a higher top on the daily.Let us see if it can make a higher bottom.But on the weeklies, after making a lower bottom, it is moving to test the previous top of 5971.If it does not break 5971 , then Nifty is bearish.The previous top on weekly can be 6112 also since the duration of 5971 top is of 1 week only.Right now wait for markets to give topping signals on daily.

NIFTY DAILY

NIFTY WEEKLY

NEXT POST WILL BE ON APRIL 29

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 5,688.95  + 120.55  + 2.16 %

Nifty as I said in my last post, to short only on rallies and topping patterns on daily charts.The same is happening.Nifty rallied above 20 dma – the yellow moving average line.Next resistance is at 50 dma of 5742 and swing top of 5755. Watch how it reacts at these levels.

DAILY CHART

 

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 (5,528.55) -65.45  -1.17 %

As I had been mentioning in my previous posts that a close below 5528 on Weekly chart is bearish.And Nifty did so on Friday.So do not sell on your fancy,but wait for rallies and sell on topping patterns.

Daily Chart

WEEKLY CHART

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 5,558.70  +63.60  +1.16 %

Nifty has formed a hammer like pattern, though not a hammer in real sense since the tail of the hammer did not go much below yesterday’s low.Anyhow watch 5604 on the upside and 5477 on the lower side.A break below or above it may trigger prices on that direction.A break above 5604, may make prices test 5644 – 5650 levels.A close below 5477, may trigger fresh selling.Also watch the close on Friday, as a close below 5548 on Friday ( weekly close), will be a forerunner of big bearishness for the Markets.

NIFTY MOVES AS PREDICTED

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 5,495.10 -47.85  -0.86 %

Nifty gave trading opportunities on both sides as predicted.Above 5570, it went upto 5603 and then went below 5537 and touched a low of 5487.The next target looks like 5345, which may be reached if NIFTY continues it’s fall.Stoploss for this trade is 5604.

BIG TRADING OPPORTUNITY

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 5,542.95 -10.30  -0.19 %

A big trading opportunity exists in Nifty tomorrow.A NR7 and an Inside day.Buy above 5570 with a stoploss of 5537 or sell below 5537 with a stoploss of 5570.It will break in either direction.

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 5,553.25 -21.50  -0.39 %

Nifty is forming a series of lower tops lower bottoms on daily chart and is moving on expected lines.The pink zone may provide some support i.e 5447.4 – 5527.On the Weekly, a close below 5448 is going to usher in big bearishness.Sell all rises after you see a top reversal pattern.

DAILY

 

WEEKLY

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   5,672.90   -75.20   -1.31 %

Nifty touched my predicted level.Yesterday it got resisted at 20 dma and fell today.Nifty is still making lower tops lower bottoms.Anyone carrying shorts should keep 5751 (20 dma) as stoploss. Next resistance level is 5817.Trading Nifty has become more intraday oriented.

NIFTY 5 mins

NIFTY DAILY CHART