Today NS may face stiff resistance at 5403 and go upto 5463 level

NF Daily Chart

Nifty broke the pivot as I told yesterday, that it may reach 5332 level and NS went beyond that and touched the day high at 5391. Nifty closed beyond all EMA on daily basis and closed above the the daily pivot too. If NS sustains this hold of 21-DEMA(5385) then more upside to 5400 and breaking that will take to 5463. I told earlier in previous post that this is not a bear market but just a correction.


TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

Today is crucial to save 5257=34DEMA

NF Daily Chart

Today it is crucial for NS to save 5257 which is 34Days Exponential Moving Average. If Nifty able to hold 5257 in the morning session then NS can move up to 5332 which is the Daily Pivot. If you refer my early blog, I have mentioned in earlier post on 22nd February ( http://niftytechnicalsonly.blogspot.in/2012/02/nifty-futures-are-in-very-much.html ) that NS may go down to 5200 level from 5630 level . RSI is still in midpoint, so possibilities are there to go down to oversold level and then a bounce. Below 5257, 5213 can be seen, which is 38% fibo retrace of the rise from 4532 to 5630.



TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

Nifty Spot can go upto 21 DMA 5361

NF Daily Chart

As told last week, this correction can go to 21DMA-5361 zone, and then retrace to day pivot,5452,above this larger retrace to 5461. New low can be made in the opening hour only.
For this type of market one should trade on the basis of HHEMA-HLEMA.

1-00 pm IST Update

NS broke R2=5337 also. Now at EOD saving 5361 is crucial for Bulls. I think today market can not break 5301 or 5288 if it breaks then it is a serious trouble for bulls. Do not go long. You can trade for a small intra bounce to till 5361.


TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

Correction started not a bearish stance

NF forming Bearish Harami in Daily chart

Correction has started and I believe it is not a Bear market rally. This correction can go upto 21SMA=5354. NS closed below JNSAR, please follow the rules for JNSAR below. Today's JNSAR is 5505 and if NS does close hourly basis above JNSAR then go long with a SL of yesterday's low of 5461 and if NS does not close above JNSAR then go short with a SL of 20 points premium to JNSAR.

In NF chart bearish Harami is poised as a Doji with bearish stance. Yesterday's close was expiry of February too which was almost 5480 i.e. weekly 50% FIBO. 5484 is good support line as per 30 min chart(nearly 10 days) 5494 is WEEKLY CAMARILLA L3. Please check calculator page for CAM levels.

2-40 pm IST Update

Nifty spot holding 5410, though it made a low of 5404. But I can not understand this huge premium inNifty Future. Now this level is super buy level I think. Make a SL of 5377.

TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

Nifty may try to attempt 5561 also which is 61.8% fibo of 5606-5491

NF Daily Chart

Nifty may try to attempt 5561 which is 61.8% fibo retrace of fall from 5606-5491. Above 5561 market may show bull side. Below 5486 shorts will pile up more and the NS may go down below 5450 to 5431. Hopefully there should not be any midpoint crisis in stochastic.



TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

Nifty Futures are in very much overbought zone

NF daily Chart

NF is in very overbought zone. The way it rose now it will fall in same severity. As told in earlier post price confirmation will confirm the fall. Nifty may take a chance to check 5630 and then the retrace back to 5200. shorting NF or buying March puts will reward more than risks. Below 5560 more downside to 5532. Expiry is tomorrow so be cautious.


10-30 am Update
Persisting -ve div in Hour ....suggests that this fall will be more than the recent intra corrections.



TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

A bearish Harami in making

Bearish Harami in NF Daily chart

NF in daily chart has made bearish Harami. The first has a large body and the second a small body that is totally encompassed by the first.Harami are considered potential bearish reversals after an advance and potential bullish reversals after a decline. But as per Dow Jones and global market sentiments this uptrend may go upto 5600 and then turn back to protect 5200.

Nifty formed Double Doji

NF Daily Chart

The double doji formation is neither a bullish or bearish formation, but represents a condition in which the open and close for the first session are the same, followed by a second session in which the open and close are again the same.
The Doji hints us that the market is in a state of balance of powers: the buyers strength has run out but so is the sellers'. So this is a state of temporary calmness before a major move. This pattern is usually found when both sellers and buyers are exercising the same pressure.
Double doji refers to the equilibrium state in which buyers and sellers are. Thus, typically it can be interpreted as a sure signal that a trend reversal will occur.
Mark the boundaries of theses "double doji" for a confirmed breakout or breakdown.

Today market corrected to 5351 and reached the high of 5421.
Initiate long @ 5340 with Stop Loss Price of 5320. or Initiate short @ 5390 with Stop Loss Price of 5420.
5425 is remaining a stiff resistance but breaking out of that level will take Nifty to 5468-5480. If bullish stands sustains then time to fasten belts. NF can move upto 5556 or fall from 5425 level. SBI good results will also boost BN above 10660.


TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

Nifty rangebound- Resistance 5415-5420

NF Daily Chart

Nifty made a doji on weekly chart and will move rangebound. Below 5363 more downside. People can short at 5425 level with a SL of 5450.

Nifty forming Inside Day

NF daily chart

'Inside Day'
A candlestick formation that occurs when the entire daily price range for a given security falls within the price range of the previous day. Inside day often refers to all versions of the harami pattern and can be very useful for spotting changes in the direction of a trend.






TT Data has been updated.

Before Trading please see the Golden Rules and TT Data

Nifty poised hanging man but closed almost 5200

NF Daily Chart

Nifty poised a Hanging man on day before and as per Hanging Man NS was down 120 points day before but yesterday a sharp pull back proved wrong in Nifty. For tomorrow 5165 which is week's pivot has to be saved then NS can move past 5230+