Happy New Year.

Thank you so much for this wonderful journey together...

Nifty Intraday Update-II

Nifty Intraday Update-I

Dear Rochak,

Our Prayers are with you for a speedy recovery. Get well soon.

Nifty PreMarket View.

Nifty ends the settlement with a new series high.

More Technical Analysis here: NIFTY TA(31); BANKNIFTY TA(31)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

It was suggested few days ago that Nifty is now locked in a trading range of 5935 to 6075. A brief move past 6075 is possible with settlement day volatility.6100-6125 is a strong resistance after 6075. Hence an aggressive sell of Jan.NF with overbought Hour TA. As for conservative traders, part book at resistance point and hold the rest till HH & HL are intact.
VIX range for the day is : 6005 to 6115.

Nifty closes above 50Sma(6014)

VIX closer to its lows and Nifty closer to 61.8% retracement fof its fall from 6339 to 5690 @ 6090 above which another strong resistance @ 6125.
More Technical Analysis here: NIFTY TA(30); BANKNIFTY TA(30)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Nifty would become weak only below 5964/5979, the month/week pivots.

More Detailed Technical Analysis here: NIFTY TA(29) ; BANKNIFTY TA(29)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Nifty stays below 50 DSma.

Though the "double bottom @ 5700" induced a rally, it is unable to stay above 50DSma(6016) inspite of few days of consolidation below it. It resembles more of an end to a "three wave corrective rally" after a sharp fall from 6339 to 5690.
Below "5990", it is bearish in the short term. Holding 5990, it could attempt another rally..Break of 5865 would confirm another big downmove. 5990 in the short term and 5865 thereafter are two most important points. There is JNSAR @ 5965.
More Detailed Technical Analysis here: NIFTY TA(28); BankNifty TA(28)