Happy New Year to all !!!
Nifty closes on a high this year giving best returns amongst 10 largest markets. Phew!!!
Nifty still in channel and moving up. Just keep in mind trendline resistance coming around 6180 plus minus 10 points and channel top from where we might correct abit or move sideways for another upmove.
Nifty breaks out from double top level of 6070 on closing basis. Also it is in upward channel in all three time frames - Daily, Weekly and hourly. TOmorrow being weekly close, monthly close and yearly close is an important day in terms of technicalities of close level alongwith highs and lows. Keep watch for channels for future action.
Nifty in channel and breaks monday's high. Now 6069 is important if breaks on upside then we may have year end bonanza. Expiry beckons and with what situation. If breaks ubove 6069 then probably we are on course to north or if breaks down from here then we might form double top at 6069. Eagerly waiting for the roller coaster ride tomorrow.
Nifty still sideways taking support on lower trendline of northbound channel. Expiry pangs should clear some confusion
Nifty shows topping out formation with todays candle being a Shooting Star. A Shooting Star indicates that the prior uptrend is about to end and may reverse to a downtrend or move sideways.
Merry Christmas to all readers
Nifty seems to have broken but the upper trendline on daily and weekly but needs confirmation in next week
Nifty upside seems capped from weekly and daily chart. On 30 min it is lying precariously on the trendline. Break can have bad impact on the recent upmove. Nifty Future chart shows movement withing parallel trendlines which might go on tomorrow.
Nifty reacts from the rising wedge trendline. Check the volumes in nifty when it started the fall, may result into scary picture in near future. 30 min chart shows that we may take support on trendline, if it breaks then we are in for a spin
Looks like a rising wedge on Daily chart. Two days out of trendline is indicating breakout but give it another day or so to confirm and not get trapped in false breakout.
Seems like a breakout from trendline but it is early days.. wait for action in coming few days to be absolutely sure
Nifty has still not given any clue for its next direction, closing between trendlines from where it can go anywhere. However it should be noted that next week will be crucial in terms of direction and it has to break one or the other trendline.
Sensex chart and some more analysis will be posted in a day or two
On weekly chart, three week trendline seems to have been broken.This is key to upmove being intact. Watchout
Nifty is now in crucial stage. Follow lines of support and resistance and EMA's/SMA's
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