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 (5,842.20) + 159.85  + 2.81 %

Recap of my posts. Read

1) Post of June 20, where I mentioned that a pattern is forming because of the pattern gap.

2) Post of June 25, Where I mentioned that an inverted shoulder head shoulder is forming on Hourly charts and that the target is 5774.

3) Post of June 26, where it was mentioned that failure to break below 5556 will lead to higher prices.

4) Post of June 27 where it was mentioned that a target of 5771 is possible if Hourly charts stay above 5667.

So we come back to point no 1, Post of June 20.We have again come back to the gap area shown on daily charts with red parallel lines.Also see the circle marked where a pattern is going to be formed.After the pattern is complete and breaks out, we will know about the future course,A pattern is nothing but Price bars / candles overlapping each other in an area.

On the Weekly charts, we have made a higher bottom as of now.So we expect a test of 6239 with a stop of 5480.If anytime 5480 is broken or prices do not cross 6239, then Nifty Futures is bearish.

NIFTY FUTURES DAILY

20130630NIFCUM

NIFTY FUTURES WEEKLY

NIFCUMWE

 

Advertisements

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 SPOT (5,682.35) + 93.65  +1.68 %

Nifty Futures touched the target as predicted. Yesterday I had written the last paragraph elaborately stressing that even if Nifty Futures goes below 5556, it may stage a comeback to touch 5667.The tweezer bottom on the Daily chart, showed two posts back, held ground and we saw the rally today.

Now on the Hourly charts, the Futures has broken the rectangle and is staying above 5667.If tomorrow, Nifty futures trades below 5667 with volumes, it will act as a breakout failure and test lower levels.If it stays above 5667, it will test the daily 200 dma at 5771 ( shown as red line on Daily chart).

As far as long term bullishness on daily charts is concerned, I will let you know once I get confirming signals.Till then the Intra Charts will act as the Roadmap for short term trading.

NIFTY FURTURES HOURLY

nsefo hOURLY

NIFTY FUTURES DAILY

NIFCUM

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 (5,588.70) -20.40  -0.36 %

Battle Lines have been drawn between the bulls and the bears for the last Bastion of 5556 on Nifty Futures. Bears already have the Upper hand as they have been able to keep the Nifty Futures below the 200 day Moving average for more than 5 days.

If NIFTY Futures remains below 5556 tomorrow, we will see more downside.Failure to move below 5556 may give respite to the bulls.

Hourly Charts show a rectangle pattern.Below 5556 we may see a near 90 plus point fall.If 5556 is not broken, expect it to touch 5667.A false break below 5556 i.e if prices go below 5556 and then recover to stay above 5556 may also lead to a test of 5667.

NIFTY FUTURES  5 MINS

5 mins Nifty

NIFTY FUTURES HOURLY

Nifty Futures Hourly

NIFTY FUTURES DAILY

NIFCUM

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 5,609.10 + 18.85 + 0.34 %

Nifty Futures has formed a “Spinning Top” and a type of tweezer bottom.If  it does not break 5556, it may continue to consolidate or stage a small rally towards 5774 , the 200 dma.So watch this level.

On the hourly chart also we have made an Inverted Shoulder Head Shoulder pattern.Aggressive traders can go long if Nifty Futures does not break 5556.Those who want to trade the breakouts can do so above 5667.Target on break out is 5774 and stoploss is 5556.

NIFTY 5 mins

3 mins

NIFTY Hourly

Nifty Hourly

NIFTY DAILY

NIFCUM

NIFTY CRASHES

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 5,655.90   -166.35   -2.86 %

Graphs and Levels mentioned below are related to Nifty Futures

In my last post I mentioned that if NIFTY Futues tests 5747 – 5738 levels, the gap may be called “pattern gap” or common gap.So we may form some kind of pattern in this area. Once the clear picture emerges, the direction can be anticipated.

NIFTY FUTURES DAILY

NIFCUM

 

 

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 ( 5,808.40) +109.30 + 1.92 %

Graphs and Levels mentioned below are related to Nifty Futures.

Nifty Futures negated the Runaway gap by staying above 5748.This small body formed on Thursday turned into a morning star and hence this rally. Right now the low of the morning star i.e 5692 is the stoploss for longs.A break below 5692 or any other pattern at a later stage in this rally may invite selling.

The gap that happened on Thursday may be Common gap ( No significance) or Exhaustion gap ( A short term bottom).It will be treated as an Exhaustion gap only if NIFTY futures in the near future does not test 5747 -5738 levels.

Concentrate on Hourly charts for short term patterns.I will also post hourly charts as and when patterns appear.

NIFTY FUTURES DAILY

NIFCUM