Aug 29,2008
--------------
NIFTY closes at 4214.00. Sensex closes at 14048.34.
Inflation and international markets trend likely to trigger a sharp up move. Short to medium term target is a high above 4364. 4450 will be the next target on the upper side. Nifty testing a low below 4195 is desirable.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.
Friday, August 29, 2008
Thursday, August 28, 2008
Aug 28,2008
--------------
NIFTY closes at 4292.10. Sensex closes at 14296.79.
Don't take any long position in NIFTY unless yesterday's high around 4364 gets broken. NIFTY moved as per our expectation. A low below 4283 could be expected in short to medium term.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.
--------------
NIFTY closes at 4292.10. Sensex closes at 14296.79.
Don't take any long position in NIFTY unless yesterday's high around 4364 gets broken. NIFTY moved as per our expectation. A low below 4283 could be expected in short to medium term.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.
Wednesday, August 27, 2008
Aug 27,2008
--------------
NIFTY closes at 4337.50. Sensex closes at 14482.22.
Indecisiveness in NIFTY stays. Yet to set a new trend. A low below 4285 is possible. It is not surprising if this level is tested. A high above 4345 is desirable. It may even help upward momentum.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.
--------------
NIFTY closes at 4337.50. Sensex closes at 14482.22.
Indecisiveness in NIFTY stays. Yet to set a new trend. A low below 4285 is possible. It is not surprising if this level is tested. A high above 4345 is desirable. It may even help upward momentum.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.
Tuesday, August 26, 2008
Aug 26,2008
--------------
NIFTY closes at 4335.35. Sensex closes at 14450.35.
NIFTY signals indecisiveness inspite of pull back from crucial support level. Weak international markets might trigger a plunge.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.
--------------
NIFTY closes at 4335.35. Sensex closes at 14450.35.
NIFTY signals indecisiveness inspite of pull back from crucial support level. Weak international markets might trigger a plunge.
4400 serves as the short term resistance level. 4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.If there is any bullish momentum NIFTY would test 4450 levels. Still 4230 to 4240 serves as the critical support level.
Monday, August 25, 2008
Aug 25,2008
--------------
NIFTY closes at 4327.45. Sensex closes at 14401.49.
NIFTY bounced back exactly few points above the strong support level near 4240. It looks like a trend reversal. Supportive global cues with fall in crude prices would help it moving up in today's trade.
4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.
--------------
NIFTY closes at 4327.45. Sensex closes at 14401.49.
NIFTY bounced back exactly few points above the strong support level near 4240. It looks like a trend reversal. Supportive global cues with fall in crude prices would help it moving up in today's trade.
4460 to 4480, 4573 to 4590 will be the next resistance levels on the upperside.
Friday, August 22, 2008
Aug 22,2008
--------------
NIFTY closes at 4283.85. Sensex closes at 14243.73.
Chart looks week. NIFTY likely to witness more pain. Crude oil, inflation and other negative factors likely to have impact on the market. 4230 to 4240 stays as the support region, as of now. This support likely to get broken. Next support lies around 4120 to 4133.
--------------
NIFTY closes at 4283.85. Sensex closes at 14243.73.
Chart looks week. NIFTY likely to witness more pain. Crude oil, inflation and other negative factors likely to have impact on the market. 4230 to 4240 stays as the support region, as of now. This support likely to get broken. Next support lies around 4120 to 4133.
Thursday, August 21, 2008
Aug 21,2008
--------------
NIFTY closes at 4415.75. Sensex closes at 14678.23.
Nothing significant has happened in NIFTY charts that could indicate any bullishness.
NIFTY has to cross first hurdle around 4460 to gain some momentum. A positive close is needed if it has to reverse the trend.
4230 to 4240 stays as the support region, as of now.
--------------
NIFTY closes at 4415.75. Sensex closes at 14678.23.
Nothing significant has happened in NIFTY charts that could indicate any bullishness.
NIFTY has to cross first hurdle around 4460 to gain some momentum. A positive close is needed if it has to reverse the trend.
4230 to 4240 stays as the support region, as of now.
Wednesday, August 20, 2008
Aug 20,2008
--------------
NIFTY closes at 4368.25. Sensex closes at 14543.73.
Nothing significant has happened in NIFTY charts that could indicate any bullishness. Lower tops and lower highs indicate negative sentiment prevailing in the market. Unless any trend reversal happens market likely to remain bearish.
4230 to 4240 stays as the support region, as of now.
--------------
NIFTY closes at 4368.25. Sensex closes at 14543.73.
Nothing significant has happened in NIFTY charts that could indicate any bullishness. Lower tops and lower highs indicate negative sentiment prevailing in the market. Unless any trend reversal happens market likely to remain bearish.
4230 to 4240 stays as the support region, as of now.
Thursday, August 14, 2008
Aug 18,2008
--------------
NIFTY closes at 4430.70. Sensex closes at 14724.18.
"A low below 4450 is imminent in short to medium term." A quote from friday post. As per our expectation NIFTY tested this level.
Short term chart is not encouraging. Friday's close ensures a dip near 4401. But the time factor remains unpredictable. Bearish momentum would help the market to move near 4240 support level.
But the asian markets bullishness may help it in short term. Good momentum would help Nifty to test 4660 to 4695 levels in medium term. Only consolation is - the long term chart has not turned bearish. If NIFTY's chart pattern turns bullish 5200+ will be the medium to long term target. But as of now it remains indecisive.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
--------------
NIFTY closes at 4430.70. Sensex closes at 14724.18.
"A low below 4450 is imminent in short to medium term." A quote from friday post. As per our expectation NIFTY tested this level.
Short term chart is not encouraging. Friday's close ensures a dip near 4401. But the time factor remains unpredictable. Bearish momentum would help the market to move near 4240 support level.
But the asian markets bullishness may help it in short term. Good momentum would help Nifty to test 4660 to 4695 levels in medium term. Only consolation is - the long term chart has not turned bearish. If NIFTY's chart pattern turns bullish 5200+ will be the medium to long term target. But as of now it remains indecisive.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
Wednesday, August 13, 2008
Aug 13,2008
--------------
NIFTY closes at 4552.25. Sensex closes at 15212.13.
Don't trade until a trend gets confirmed. A low close or a low below 4464 will make the charts vulnerable.
A bullish momentum would help - Short term target - 4660 plus.
A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
--------------
NIFTY closes at 4552.25. Sensex closes at 15212.13.
Don't trade until a trend gets confirmed. A low close or a low below 4464 will make the charts vulnerable.
A bullish momentum would help - Short term target - 4660 plus.
A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
Tuesday, August 12, 2008
Aug 12,2008
--------------
NIFTY closes at 4620.40. Sensex closes at 15503.92.
NIFTY's chart support a bullish trend. Short term target - 4660 plus. Trend in Asian markets is the only threat. Long term chart looks rosy. 5200+ would be the next upside target - Long term.
A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
--------------
NIFTY closes at 4620.40. Sensex closes at 15503.92.
NIFTY's chart support a bullish trend. Short term target - 4660 plus. Trend in Asian markets is the only threat. Long term chart looks rosy. 5200+ would be the next upside target - Long term.
A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
Monday, August 11, 2008
Aug 11,2008
--------------
NIFTY closes at 4529.50. Sensex closes at 15167.82.
NIFTY remains indecisive. Positive uptick in asian markets may help it to turn bullish. Long term chart looks rosy. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target.
As mentioned in Friday's post NIFTY tested 4495 and went below that level. A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor. A high above 4580 would help further momentum.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
--------------
NIFTY closes at 4529.50. Sensex closes at 15167.82.
NIFTY remains indecisive. Positive uptick in asian markets may help it to turn bullish. Long term chart looks rosy. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target.
As mentioned in Friday's post NIFTY tested 4495 and went below that level. A low below A low below 4450 is imminent in short to medium term. However, it is difficult to predict the time factor. A high above 4580 would help further momentum.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
Friday, August 08, 2008
Aug 7,2008
--------------
NIFTY closes at 4523.85. Sensex closes at 15117.25.
NIFTY yet to set a new trend. Long term chart looks rosy. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target. A low below 4495 is imminent and it could be expected in short term. A high above yesterday's high - 4580 - would help further momentum.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
--------------
NIFTY closes at 4523.85. Sensex closes at 15117.25.
NIFTY yet to set a new trend. Long term chart looks rosy. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target. A low below 4495 is imminent and it could be expected in short term. A high above yesterday's high - 4580 - would help further momentum.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
4660 to 4680 - next resistance zone. 4445 to 4465 - next support zone.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude is technically weak as of now.
Thursday, August 07, 2008
Aug 6,2008
--------------
NIFTY closes at 4517.55. Sensex closes at 15073.54.
NIFTY has met all the targets mentioned here. A close above 4500 plus and intraday high above 4600 were our targets. Both the targets were achieved in the last two sessions.
Today's session might be a trend setting session. It would be better to avoid trading. Chart pattern looks good. But it should be supported by the sessions to come. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target. This is a medium to long term target, provided the bullish momentum prevails.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.
--------------
NIFTY closes at 4517.55. Sensex closes at 15073.54.
NIFTY has met all the targets mentioned here. A close above 4500 plus and intraday high above 4600 were our targets. Both the targets were achieved in the last two sessions.
Today's session might be a trend setting session. It would be better to avoid trading. Chart pattern looks good. But it should be supported by the sessions to come. Bullish momentum would help NIFTY to test 4630+ in short term. 5200+ would be the next upside target. This is a medium to long term target, provided the bullish momentum prevails.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.
Monday, August 04, 2008
Aug 5,2008
--------------
NIFTY closes at 4395.35. Sensex closes at 14577.87.
Crude tests $120. It is a good news. Crude may slide down further. If this helps sentimentally, NIFTY would close above 4500 as said earlier. It is a medium term target. But before that NIFTY should breach the resistance lies around 4453 to 4463.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
NIFTY might test 4600+ levels in medium term,if there is a good momentum.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.
--------------
NIFTY closes at 4395.35. Sensex closes at 14577.87.
Crude tests $120. It is a good news. Crude may slide down further. If this helps sentimentally, NIFTY would close above 4500 as said earlier. It is a medium term target. But before that NIFTY should breach the resistance lies around 4453 to 4463.
If there is any bearishness NIFTY would test 4240 levels in medium term. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
NIFTY might test 4600+ levels in medium term,if there is a good momentum.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.
Friday, August 01, 2008
Aug 1,2008
--------------
NIFTY closes at 4332.95. Sensex closes at 14355.75.
Asian markets are down. Inspite of good chart patternsl, external factors might infuence the markets.
NIFTY got a technical confirmation for 4365 and 4410 plus. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
NIFTY would close above 4505. It is a medium to long term target close.
Next support level lies around 4135 to 4120.
NIFTY might test 4600+ levels in medium term,if there is a good momentum.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.
--------------
NIFTY closes at 4332.95. Sensex closes at 14355.75.
Asian markets are down. Inspite of good chart patternsl, external factors might infuence the markets.
NIFTY got a technical confirmation for 4365 and 4410 plus. Similarly, NIFTY might test 4100 if there is any bearish onslaught.
NIFTY would close above 4505. It is a medium to long term target close.
Next support level lies around 4135 to 4120.
NIFTY might test 4600+ levels in medium term,if there is a good momentum.
Crude's correction augurs well. Outstanding crude oil futures contact numbers fell to the lowest in 17 months in New York, as the Senate began considering legislation to limit speculation in oil markets. This is a good news.
According to fundamental analysis, excluding the effect of speculation, oil should be around $80 per barrel. Crude oil would plunge steeply if it closes below $120 in New York, as per technical analysis. Else it may rebound with venom.