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

NIFTY FUTURES 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 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

NIFTY FUTURES DAILY

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

NIFTY FUTURES HOURLY

NIFTY FUTURES DAILY

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

NIFTY Hourly

NIFTY DAILY

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

 

 

NEXT POST

Will post on 20 th June after  U.S Fed policy decision

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

CORRECTION

Target is 5608 and not 5563 as stated earlier.Stoploss is same as close above 5748.

NIFTY TOUCHES TARGET

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 5,699.10 -61.10  -1.06 %

Graphs and Levels mentioned below are related to Nifty Futures.

Nifty Futures nearly touched 5685, the level I gave yesterday.Since last 15 days I had been bearish, but many were skeptical saying that everyone on the street knew about this Shoulder Head Shoulder pattern and so it will not work this time.You judge for yourself.

I received a lot of mails asking whether market is still bearish. Frankly, I follow the trend and charts and do not go thinking about bullishness and bearishness . Don’t get entangled in those views .Trade in the direction what market tells you. I trade in either direction as the price and volume dictates. I do not want to catch the bottom, but only the middle profits. But ask yourself whether you could capitalise on this (5937-5692) 245 point fall ?  Play only when market gives definite clues.

Coming back to charts, see the daily Nifty Futures charts, there is a measuring gap which developed today.The target of this gap is 5563.Stoploss is a close above 5748 i.e a close above 5748 will negate this pattern.

NIFTY FUTURES DAILY

Right

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 (5,760.20) -28.60  -0.49 %

Graphs and Levels mentioned are related to Nifty Futures

NIfty Futures moved in a range below yesterday’s low.Twice it tried to stay above yesterday’s low but resulted in breakout failure.

On Hourly charts Nifty Futures has made a pattern – rectangle.Buy above 5809 for target of 5871 or above.Or Sell below 5747 for target of around 5685.

NIFTY FUTURES 3 mins

NIFTY HOURLY

NIFTY CRACKS

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 5,788.80 -89.20  -1.52 %

NIFTY Futures, I had been saying since May end that it has broken below the neckline of Shoulder Head Shoulder pattern. And today it showed the result of that break.Fast short coverings maybe there but lower target of 5650 ( approx) is still open. Also on hourly chart a small Shoulder Head Shoulder shown in white had formed and given it’s target.

NIFTY FUTURES 3 mins

NIFTY FUTURES HOURLY

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 ( 5,878.00) -3.00  -0.05 %

Graphs and commentary are related to Nifty Futures.

NIfty is trading below 5937, the Neckline of hourly Shoulder Head Shoulder pattern.Watch this level closely, below 5937 Nifty is bearish.On 3 mins chart, Nifty moved in a sideways range with some breakout failures.

NIFTY 3 mins

NIFTY HOURLY

NIFTY FUTURES

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  (5,921.40)  -2.45  -0.04 %

Nifty Futures 3 mins chart showed breakout failures failing to reach the Initial range lows which meant market had strength.Also on th 30 mins charts Nifty Futures gave a positive divergence which made it move up.

Regarding the bearish shoulder head shoulder pattern, it is intact and today prices closed below 5937.So keep 5937 as a trend decider on closing basis.

Nifty Futures 3 mins

Nifty Futures 30 mins

NIFTY INTRADAY

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 (5,923.85)  + 4.40  + 0.07 %

Nifty Futures hourly chart is closing near 5937 i.e the neckline since last two days.There is no followthrough selling below this level.So tomorrow if Nifty Futures trades above 5937, it may go up.If if stays below 5937 for more than 3 hours, it may be weak.

Nifty Futures ( 3 mins ) did not have much action and the chart labelled is self explanatory.

NIFTY Futures 3 mins

NIFTY Futures HOURLY

NIFTY INTRADAY

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

Nifty Futures 3 mins chart, gave a buy above the saucer pattern of 5970.longs had to book profit at point A as the market failed to sustain it’s breakout.

At point E market gave a false breakout failure signal to buy.The stoploss for this buy would have been the lower side of the rectangle.

Finally Nifty broke 5961 and made a low of 5921.

Points C and points D are TD resistance line i.e 5950 and 5979 will act as resistance tomorrow.A break and stay above 5979 will be bullish.Till then bears will rule.

On Hourly Charts Nifty futures is staying just below 5937 which is the neckline.Consistent stay below this line will be bearish.

NIFTY Futures  3 mins

NIFTY FUTURES HOURLY

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 (5,939.30)  -46.65  -0.78 %

NOTE  The graphs are of Nifty Futures and not SPOT.

NIfty Futures as I said is on the neckline of the Shoulder Head Shoulder on the Hourly chart.The Neckline is at 5937 ( futures ).A break and stay below 5937 for more than 3 hours or with volume is confirmation of the breakout towards a downmove.

On the 3 mins chart which is labelled, we have made a Cup and saucer during the closing hours.So a move above 5970 may stall the downtrend for the moment.

NIFTY ( Futures) 3 mins

NIFTY FUTURES HOURLY