Nifty holds above 2930, correcting with lower volumes.to trade 2900 - 2990 before a decisive move.

Nifty has commenced the correction for the upmove from 2813 to 3003 promptly today.
If 2880(50 DMA) & 2905 are held, further upsides are possible as the rises are on higher volumes and the falls are on lower volumes.
As the 25 DMA provided the critical support on Monday at 2813 which is a rising average, keep that 25DMA as a critical support(2867 for today)

If you work hard on the study of individual stocks, the chances of outperforming the Nifty is very high as Stock picking will continue to play while Nifty will be in a larger corrective phase for 9 to 12 months period.(Rotation/ Churning of portfolios by funds will offer very good spreads especially when the stocks are "Oversold".

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WISHING YOU ALL A VERY HAPPY & PROSPEROUS NEW YEAR.

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Nifty resisted at 3000 & correcting..to 50&20DMA (2890)/ 5 DMA(2930)..??

Nifty has managed to close above 5 DMA comfortably. Now to hold on to that gains..

There is a minor negative divergence in the 5-minute chart that has triggered the last hour fall. Now if the supports at 2930 or 2900 or 2890 is held, there is a likelihood of this uptrend continuing.If world mkts are good/ flat, 2930 should hold.

Any weakness below 2890 will result in selling towards a critical 2830 level break of which fall will accelerate.

So allow the correction to find its bottom for buying into.

Presently, daily is in uptrend and hourly getting into +ve area. As long as this set up carries on, no trouble for bulls.A December month close & a year close tomorrow.

Nifty bounces off the channel bottom at 2813, heading into resistances ahead at 2950-2985-3005.

Nifty has bounced off the trendline (Connected by 2253 & 2503)at 2813.
The quality of the bounce and the hourly technical setup as it clears the resistances ahead should guide us in deciding on the direction.

Daily technicals on the verge of turning up and it requires a firm close above 2940.
Volume, which was declining since the 3110 top reached lowest on Friday and the same has increased but requires a follow up buying tomorrow. As usual, Metals have started the rally.
A likely consolidation around 2900 to 2950 may take place initially before further upmoves towards 3000.

Oye Lucky, Lucky Oye..!!!

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(Reproduced here from "The Times of India".)

Nifty continues the downtrend towards the critical 2810-2800.

Nifty continues to trend down towards the critical channel support around 2800.
Break of 2800 will increase the downwards momentum (2775 is another pivot low to be protected to arrest this downtrend.
Bounces for the short term oversold conditions has not brought any meaningful bounces.
Watch for any buying interest at 2800. If fails, more downsides. A very strong resistances created at 2905 & 2960.

Nifty pauses at 2900, closes at last weeks close.!!

"MERRY CHRISTMAS" to All.



Nifty found support at 2900 today and closed near last week's close.
There is another channel bottom comes at 2800 below which downtrend will become faster.
Though hourly indicators are at the bottom, there are no +ve divergences.Hence, further lows are possible.
If Asian Cues are + ve,we may have a bounce(2900 holds) to 2960, above which to 3000.
If Asian cues are - ve, a fall below 2900 towards 2860 failing which 2800 possible.
As the daily technicals are in down mode, use any bounces to sell only.
Imp: Ability of the market to find a bottom near 2800-2860 area and reverse in the next 2 to 3 days will help reach higher levels.However, a decisive fall below 2800 may lead to much lower levels/ new lows.
These are the two options for which the clues should emerge in the next few days.
Another Major point is that we will be ending the year & the month in the next 4 days.Month has performed well thus far but the year is quite catostrophic. So to which end it will go to close...monthly bullish or yearly bearish..??







The Indian Market Monitor: Sensex and Bankex

Nifty confirms the channel break, heading to 2850-2820 area

Nifty has broken the trendline of this rally from 2570 to 3110 on a closing basis.
As there is a +ve divergence in 5-Min time frame and the hourly are in the oversold region, a bounce may be expected if the Asian cues are positive.

If there is a negative cue, deeper fall may be possible.

Technically, the daily sell signal is triggered. Resistances at 3020-3050 need to be cleared on closing basis.2900-2920 area is the last hope for bulls to return for the short term.Trading below 2900-2920 may lead to faster fall to 2810-2820 area.

Needless to say, volatility will be high tomorrow.Trade carefully.

For stock pickers, Deepak's Blog has some interesting ideas.

Nifty's corrective phase..?

There are resistances at 3050 to 3080 area and a possible supports near 3000 levels.
Break of 3000 will bring in swift selling towards 2980-2960 & 2930 levels.
Depending on the nature of bounce and its ability to clear past 3075 will bring in more upsides as long as 3000 holds.

Nifty stalls at 3100 again and corrects..

Nifty attempted a breakout but weakened due to the long pending negative divergences in the hourly time frame as well as some long unwinding.A trade below 3020 will lead to a channel breakdown leading to more corrections. However, 5 minute being highly oversold, a bounce off the lows will materialise. A broader trading range of 2910 to 3110 may be in place.
Daily trend is still in upmode as of today....Watch those trendline and resistances & supports and trade accordingly.

Your destiny is in your own hands.

Once upon a time, a long time ago, in a land far away, there lived an old man in a house on top of a hill. He was known far and wide for his intelligence, sensitivity and wisdom. His answers were always correct.
In a village below the hill was a group of boys who played together. Sometimes they climbed the hill to visit the old man and ask him questions, for which he always seemed to have the correct answer. Over time, it became a little game, with the boys continually trying to think of a question that the old man could not answer. But they were never successful.
One day, a boy named Aram called the others around him and said, "I have finally found a way to stump the old man. Here in my hand, I have a bird. We will go and ask the old man if the bird is alive or dead. If he says that it is dead, I will release it and it will fly away. If he says that it is alive, I will crush it, and the bird will be dead. Either way , he will at last have been proven wrong."

Excited about the prospect of finally catching the old man with a wrong answer, they hurried up the hill. The old man watched them coming and noticed the eager looks on their faces. Then Aram stepped forward and asked. "Old man, I have a bird here in my hands. Is it alive or is it dead?"
The old man looked at their mischievous, expectant faces and then quietly said, "Aram, it is in your hands."

The point and moral of this story is that almost everything that happens to you is in your hands. Your destiny is very much up to you. Your future is largely determined by yourself, by your own choices and decisions. What you achieve is the result of what you do , or fail to do , day by day and year by year.
The management guru Peter Drucker wrote, "The very best way to predict the future is to create it."
Hope is not a strategy for success.Your life is too precious and important to be left to chance.Decide today to create your own future.
(Excerpts from: "Create Your Own Future..by Brian Tracy")

Nifty pauses at 3100, trading within the channel..

Observe the 12 day Roc chart where in the indicator has reached the overbought area but has not yet turned down.There are two strong resistance points at 3148 and at 3250. The profit booking should start around that area. A likely support will be 2900 to 2920 area. Stock specific movements will happen with uptrend likely to go into a pause mode. Once market establishes a high in place for the coming week, a trading range may then be established..

Turn dates for the US Markets..

Based on astrology, the turn dates(Ready to Short) given by a blogger followed widely for US Markets.
With our markets overbought with negative divergences, we can start to sell tentatively initially. Watch out for the prices to confirm by breaking the channel again, closing below critical averages, etc.
Remember all the time our settlement date as our markets can continue to surprise..

Nifty breaks the channel briefly & rallies, still overbought..

Though Nifty broke the channel briefly, rallied back into the channel by 11.00 AM and rallied to the previous day's high.
Since the 2570 rally & after reaching 3076 yesterday, Nifty broke the 2 day low confirming a correction..The lower range of this correction is 2922 and the higher level may be 3076 or higher around 3100.
There are negative divergences in the short term charts but shortcovering keeps the Nifty firm..
Trade the channel..Book profits near the channel tops and reenter near the channel bottom with appropriate SL.
There are many wave possibilities..but the prices are trending up..Follow that.If we get some clarity on the EW, we will post it.
Stock buying in rotation goes on..ITC & NTPC which were quiet for a while broke out of their range today.
For the settlement, buy into those stocks which are trading near their Dec. month's high on dips..
If the EW labelling of Hourly chart turns out to be correct, more upsides possible.(SL 2922)