Nifty(4866.70): Markets took eight sessions to rally from 4640 to 5099 but it has just taken 2 sessions to wipe out a little over 50% of those gains. A relief rally now to something under 5000 mark would mark wave ii of the wave 5 (see chart). More specifically, the ideal level for this relief […]
Nifty(4866.70): Markets took eight sessions to rally from 4640 to 5099 but it has just taken 2 sessions to wipe out a little over 50% of those gains. A relief rally now to something under 5000 mark would mark wave ii of the wave 5 (see chart). More specifically, the ideal level for this relief […]
Nifty(4943): The corrective rally of wave 4 is over and the next leg lower of wave 5 has begun. There is a gap area between 4920 and 4866 and the markets are likely to find temporary support around this area. Yesterday’s low was exactly at the top end of this gap range. However, this is […]
Nifty(4943): The corrective rally of wave 4 is over and the next leg lower of wave 5 has begun. There is a gap area between 4920 and 4866 and the markets are likely to find temporary support around this area. Yesterday’s low was exactly at the top end of this gap range. However, this is […]
Nifty(5039): A small range bound day post a big move is a normal market behaviour as market participants take stock of the move. We have an inside day bar and a “doji” pattern on the daily charts. A move past the boundaries usually provides a good short term trading opportunity. So watch 5002 on the […]
Nifty(5050.15): Given that Nifty hit resistance of 5065 on Friday and evolving technical structure on the intraday charts, there are odds for this market to turn lower from here. Also, since January this market has shown tendency to provide reversals around a 6-7 day time period after a rally from a swing low. If this cycle is […]
Nifty(4832): The day was ranged between important supports of 4725 and resistance of 4866 though an erratic and volatile day with a mildly positive finish. Now given the global euphoria about cheaper dollar swap lines, Nifty is very likely to take the double three corrective outlined here in yesterday’s technicals. The resistance at 4980 is […]
Nifty(4832): The day was ranged between important supports of 4725 and resistance of 4866 though an erratic and volatile day with a mildly positive finish. Now given the global euphoria about cheaper dollar swap lines, Nifty is very likely to take the double three corrective outlined here in yesterday’s technicals. The resistance at 4980 is […]
Nifty(4805.10): Did the counter trend rally end at 4866? Here is the wave count on the hourly chart. Nifty has failed to cross last week’s high of 4873. Unless, there is another three wave correction (see chart), we may have to be open to the prospect that the upward correction was too weak and ended […]
Nifty(4805.10): Did the counter trend rally end at 4866? Here is the wave count on the hourly chart. Nifty has failed to cross last week’s high of 4873. Unless, there is another three wave correction (see chart), we may have to be open to the prospect that the upward correction was too weak and ended […]