Nifty update 7th May 2009

Nifty has done very well since our last update. We had told 3350 supports and from there it has done well. Now we see negative divergences forming between the indicators and price. We would recommend to reduce positions or keep a trailing stop loss on all longs. The resistance seems to be 3747 and the support is 3500 and 3300 region is a good support region.

NIFTY UPDATE 24TH APRIL

WE HAVE SHOWN IN LAST POST ABOUT CCI TURNING UP AND THAT HAPPENED .NOW WATCH 3488 AS MAIN RESISTANCE SUPPORT RANGE 3390-3406.

Regards

Nifty Trends Team

Nifty as on 21st April 2008

This is the Daily chart of Nifty Futures. As seen from it, Nifty fell due to divergence on cci with price. Now we see that Nifty is near the support. Turbo cci has gone down. We have to see whether it hooks in the next 2 days. If it hooks then market would have taken support and we can see an upmove again.

NEARING MAJOR HURDDLE

TIME TO BE CARE FULL OR SAY CARE FOOL Does not matter . If u are long keep 3320 sl .

Market near multi month trend line if you can see and last day dozi was created in nifty daily so it can be warning sign . IF you see market in April , May , August ,october all neared the trend line and never crossed .



RETRACEMENT LEVELS MENTIONED IN CHARTS .


Regards

NiftyTrends Team

Nifty update

As stated in our previous chart, Nifty is doing a superb salsa!!! and surprised all intra day. This rise seems to be very fast and furious discounting many factors like rate cut etc. Just a view In this rally no one talking about bear market all have turned bullish . We should remember that we have not come to 8000 levels from 21000 because of any problem in India . This fall was led by DOW which is yet to give break out failing of which can result sharp fall .

Remember in our last post we have shown extend of Bear market rally. We are yet to break out either on Charts of dow jones or it happens to nifty also remember that till next week we are having alternate trading days .Keep you Profit floating and enjoy the ride .


Support : 3224 , 3160

Resistance : 3390-3430.

Regards

Nifty trends team

Nifty EOD 27th Mar 2009

We had told Nifty will breakout of channel in intraday chart. Nifty went up more than we expected. Let us now see the Daily charts and see where Nifty is heading. We can see that from past 2 months Nifty has been in a channel. As of now we can expect to see some channel resistance of 3150-3180. The result season will dictate whether Nifty will breakout from this channel. If breakout happens then Nifty - BELIEVE IT OR NOT- can see 3500-3700 levels!!! That will be an impressive rally in a bear market. But as of now 3150-3200 is VERY IMPORTANT channel resistance.

Nifty Futures Update 23/03/2009

This is a 15 min time frame intraday chart of Nifty futures. As can be seen from chart, it is in a range from 2760 to around 2800 levels. A clear breakout from these levels and if it sustains above this then we can see the next range resistance level which is around 2871. As of now 2760 is acting as a support where a sort of double bottom was formed.