Intraday Update 1

As expected there was not threat to 6100 psychological level since the opening of the market. Taken long @ ORB as well as PIVOT point @ 6178. Now RBI has given positive surprise to market. So NS might heading towards 6300. Will review there long position.Today will watch NS 6175 if gone there in remaining session. (chances are remote.)

Trade Sheet

Nifty.....S....6133/6120/6100....R....6154/6175/6200

Nifty closed below 61.8 % level (6142). Bounce got sold and made new low. It was expected as the trend is DOWN. But looking at oversold status and 6100 psychological level fall may get pause in a day or two. Tomorrow weekly close below 6105 (weekly LEMA) will signal negative with downward momentum strong on medium time frame. Today being event day (RBI credit policy)volatility expected. Today close above 6177/6187 will signal downward momentum getting weak.

Trade Sheet

Nifty....S....6142/6130....R......6161/6175/6200/6210

Nifty as said gone towards 6142 but this important number protected well for twice.Yesterday low was 6146. Niufty is oversold and there were 5 red candles in a row, so bounce for intraday or for intraweek is expected.Today close above 6198 will PAUSE this downward journey. On upper side 6210/6245 is area to reenter in short position.

Intraday Update...2

Earlier long booked @ 6195 as it ws not sustaining above PIVOT 6179 NS.
Now again long @ 6181 NF

Intraday Update...1

Nifty as said heading towards 6142..low is 6153..S1 is 6150.
Covered short position and taken long @ 6180 NF.Now will see whether we gets ORB up (6194).SL is day low.

Nifty.....R..6179/6200/6240....S....6150/6130/6100

Nifty closed below 50 % retracement level (6194) of the rise from 5973 to 6415, now towards 6142 which is 61.8 % retracement of the same leg.It is oversold, but at the same time with WEEKLY sell on rise signal.One should manage bounce or re-enter short to get the benefit of latest signal.

Intraday Update 2

NF...not breaking 6200 . ..2 attempts failed...6200 PE ..OI not much shedding

NF if trades above 6220 then will review short position

Intraday Update 1

NF ...ORB range was 6211/6234.....now 6211 broken...6194 as well as 6185 50 % retrace and WEEKLY 5EMA no. also brokem...short position maintaining
Will review @ ns 6142. On upper side 6208 IMP.

Nifty...S.....6200/6194/6142...R...6250/6270

Yesterday too NIFTY closed with red color.As said earlier 6400 is strong resistance.Now resistance set at 6300.OI in 6300 CE are increasing at the same time support is at 6200. OI in 6200 PE are increasing, but if it breaks decisively then 6000 is the support. 6194 and 6142 are the 50 and 61 % levels of rally from 5973 to 6415.
Monthly is SELL ON RISE with last month close below MONTH HEMA. WEEKLY is positive with last WEEKLY close above WHEMA. DAILY is NEGATIVE with close below DLEMA (6256) as well as below 5DEMA (6275). So now today's WEEKLY close is important. 6293 is WHEMA and 6185 is WEEKLY 5 DEMA.

TRADE SHEET

Intraday Update

Traded below PIVOT...Tken support @ S2 6259 but in last half an hour support broken .
At the same time TP 6253 hits. Close below DLEMA .. So downward momentum strong now.If tomorrow close Below 6293 -which is WEEKLY HEMA- all signals -MONTHLY.WEEKLY DAILY will be in one direction ...

Nifty.....DAILY negative ..tomorrow WEEKLY close imp now

Nifty traded below pivot and S2 was maintained till 3 pm.In last half an hour S2 broken at the same time TP (6253) hits.Monthly already negative, DAILY negative.Only WEEKLY negative is awaited tomorrow to turn it medium term downward strongly. Now 6194 and 6142 which is 50% and 61.8% retracement is important.

Intraday Update 1

NF..ORB down..@ 6305...short taken..



Here is PIVOT and S2

Trade Sheet

Nifty...S....6305/6280/6250...R....6330/6350

Upside seems capped for NIFTY. Last week close was positive and that signal has not yet implicated and it's intact till tommorrow ,provided that tomorrow close must be above 6293.Latest DAY signal is SELL ON RISE. If today close below 6265 then correction will be deeper.

TRADE SHEET

Nifty.....S...6235/6211...R....6301/6343/6400

As said NIFTY couldn't break 50 % retracenment level.Now election result impact is there.Euphoria.....!Above 6343 NIFTY is entering in new trade zone.Presently 64oo CE OI shows resistabce, if that breaks then 6500.

TRADE SHEET

Nifty.....R...6258/6280/6301....S......6226/6215/6208/6190

Yesterday Nifty opened with huge gap up and resisted exactly at weekly R2-which is mentioned in INTRADAY UPDATE-with addition in 6400 CE. Option table clearly shows resistance at 6400. Let's see whether nifty attempts again to cross earlier high (6343),if closed above that point then may add another 100/150 points. 50% retrace of last rally (6150 to 6301)was done yesterday itself.Now we have to watch whether it goes towards 61% or stops here.
Nifty has given negative close on monthly basia. At the same time last week close in line with monthly - sell on rise -.In both time frame close of NIFTY is below HIGH EMA .On Wednesday NIFTY closed below DAY HIGH EMA as well as below 5 EMA. So day trend also joined hands with WEEKLY and MONTHLY signals.But Yesterday NIFTY closed above DAY HIGH EMA as well as above 5 DAY EMA. So now DAY signals BUY ON DIPS, WEEKLY and MONTHLY signal still remains as SELL ON RISE. Today as it's a weekly close we have to see whether it close above current WEEKLY HIGH EMA which is at 6232 to join hands with latest day signal.

Intraday Updat 1

We were out of trade.Thanks god. Technical levels saved us.
Nifty spot currently @ 6277...Weekly R2 6282..
Nifty future..currently @ 6313..if trade above 6315 decisively then new high possible else market may give up some gain which achieved in gap up opening

Nifty....S....6140/6115....R......6173/6197/6212

As said on 2 Dec Nifty couldn't sustain at higher level and was in narrow range for first 2 days of the week.Yesterday 6200 broken.Now Monthly and Daily is negative at the same time if tomorrow close below 6208 then weekly momentum will add additional force to SELL ON RISE. On down side 6111 and 6071 should be watched.Those are the 50 and 61% retracement numbers of rally from 5973 to 6229.

Trade Sheet

Monthly Trade Sheet

Nifty.......S...6154/6126..R....6204....6212.....6233

Nifty with negative on Monthly basis and positive on WEEKLY and DAILY basis entering into the strong resistance zone from where profit booking was experienced earlier 2/3 occasions.So cautious approach required.

Update

NF high 6237.80.
Now if crosses and stays above for 10 minutes then towards 6265.Let's see.

Update

NF previous close and low same.Above R2 so looks towards 6210 R3

NF crossed 6210. Now as said in pre market view NS is towards 6178

Nifty....S...6070/6030....R......6114/6135

Nifty, though bounced and gap up , couldn't make new high (6122), and as expiry day it was volatile session. Today being weekly close, must watch some levels which are based on weekly time frame. According to this one may watch 6075 and on lwer side and 6178 on upper side.If close below 6074 weekly momentum with negative bias will continue and if close above 6178 then weekly will turn positive. See whether it close above 6105 today which is 80 % of last fall. Still there are mixed cues on different time frame. Monthly positive, Weekly negative and Daily posiirive.

Nifty....S....6054/6035....R...6077/6098.

Nifty taken support @ 6045 as said yesterday and bounced in last hour.But there was selling in last few minutes too.6077 is the area where multiple resistances are seen.Yesterday at same level seling took place, today 6077 is R1, and 6069 is CAM L3 level.Crossing this level will force BEARS to cover short position fast and it may take nifty above 6100 on INTRADAY basis. 6081 is TP. Today iof close above 6103 then rally will continue.

Nifty ..R....6073/6099...S...6035/6008

Nifty...S...6092.6060...R...6140/615

Nifty protected 5972 level and bounced. This rally(6973 to 6124) has completed 61.8 % of last fall (6212 to 5973).Daily trend turned up, but weekly trend is down.At the same time TP hits. Mixed cues are there. Keep watch on PIVOT and CAM level.

Nifty ..S..5972/5946.....R...6006/6035

Nifty closed below 6000 level didn't break 5972.If that is protected then correction seems over in price point of view, but it will take time to initiate rally. So side ways movement for some days expected. If 5972 breaks then 5946 is major point to be considered.I f that too breaks then Nifty heading towards 5862/5828 or even lower.Today if close is above 6000 then there will be at least pause for downtrend

Nifty...S....5972/5946...R....6030/6060

Nifty closed below 6000 level didn't break 5972.If that is protected then correction seems over in price point of view, but it will take time to initiate rally. So side ways movement for some days expected. If 5972 breaks then 5946 is major point to be considered.I f that too breaks then Nifty heading towards 5962/5928 or even lower.Today -as it is weekly close- if close is above 6000 then there will be at least pause for downtrend.

Nifty....S...6090/6065...R...6145/6180

Nifty didn't stretch up to 6269 and reversed from 61% ratio of last fall(6343 to 5972). Yesterday was fantastic example of PIVOT based trading as far as INTRADAY is concern, and for POSITIONAL traders FIBONICA proved best one.Now 6100 is psychologically very important point. Will it break 5972 before expiry?? PE writers @ 6000 strike price will not let it go down below 6000 before expiry at least; if goes then 5946 is to be watched.

Nifty..S...6199/6185/6165...R...6213/6217/6231

Nifty touched 61.8 % of fall from 6343 to 5972 @ 6202 and closed little up of this level.Got resisted @ CAM l3 yesterday. But traded in very narrow range. Presently 6200 PE and 6300 CE shows larger SUPPORT and RESISTANCE levels. 80 of fall from 6343 to 5972 is @ 6269 which may prove strong resistance.Will it get stretched up to this level or ...let's see.

Nifty...S....6165/6140...R...6202/62206252

Daily trend turned positive.Now 6202 is importana as it is 61.8 % retracement of fall from 6343 to 5972.Today is third day of this rally and there 2 gap ups. If third gap up then there will be exhaustion and profit booking is expected.

Nifty...S..6028/6000..R...6093/6130/6158

Nifty bounced as expected.Now today must trade above 6065 to continue the rally.Today's close is important. If close above 6066 then there will be strength. Close above 6123 will turn it positive in short term.If TP 6137 hits then it will become strong. Lets see what happens around 6130 level. 6158 and 6202 are 50 and 61.8 % levels of the downmove from 6343 to 5701.

Nifty....S...5970/5961/5946....R.....6001/6030/6070

Nifty yesterday opened gap down but with some bullish momentum and maintained it till mid session. But later on weakness seen.There was new low but 5946 is not tested. Yesterday's close was with 7th red candle.Nifty is oversold bounce is expected.Today if closed above 6070 then there might be rally for another 1/2 days. At least PAUSE for downtrend is expected today.Let's see. Keep watch on OI of 6000 PE and 6100 CE.

Nifty...S..5992/5984/5946...R....6046/6071

Nifty breaks 6022 and closed in red on 6th day. Now 5946 is crucial.Looking at oversold situation bounce is expected. When?? Market knows.