Nifty(5178): Nifty on expected lines went below the low of 5165. The bullish interpretation at this point is that the move from 5630 is a corrective decline and the correction got over at 5135. What is in favour of this? The intraday momentum has not been able to clock new lows when price has done […]
Nifty(5380): Nifty caved in sharply yesterday and shed 1.53%, off the lows of the day. From now on the speed of the move is going to be important be it higher or lower. If we see gaps or wide ranged bars for more than just a day, it will signal to us that the market […]
Nifty (5333.55): Ok, let the chart speak. Look for resistance to kick in at 5403 or 5460. A very remote chance of 5520. To get here Nifty could take today’s entire session and possibly a little of tomorrow’s session too. But once resistance is in, a fast decline should start, be it a C wave or wave 3 […]
Nifty(5222.40): An erratic day that finally settled lower by little over 1%. If the top at 5630 is a significant top, the counter-trend top, i.e. B wave correction to the 2010-2011 decline, there are two ways this can play out. 1) Nifty blows through 5090-5077 area – if this scenario happens, we have a powerful […]