Nifty EOD, 30-01-09

This is for education purpose only and may not be useful for trading

Daily charts: Mkts rangebound over a bigger range as bulls make last attempt to hold recent lows. Depending on this unfolds, we can have sideways to bullish movements over next 2-3 weeks.
Resistance: region of 2800-2850 and then 3100-3150.
Weekly charts: rangebound between 2600 and 3150.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart, 27-01-09

This is for education purpose only and may not be useful for trading

Daily charts: Mkts rangebound over a bigger range as bulls make last attempt to hold recent lows. Depending on this unfolds, we can have sideways to bullish movements over next 2-3 weeks.
Resistance: region of 2800-2850 and then 3100-3150.
Weekly charts: Last weeks' bullish hammer has been fully retraced.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 23-01-09

This is for education purpose only and may not be useful for trading

Daily charts: 2 day swing in sell mode SL 2750.
Markets have broken out on the downside. However, the price behaviour is unconvincing, to say the least. We shd hv been down 3-5% today but that has not happened.
Volumes are also not supporting and VIX has dropped by 10%.
Weekly charts: Last weeks' bullish hammer has been fully retraced.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 22-01-09

This is for education purpose only and may not be useful for trading

Daily charts: 2 day swing in sell mode SL 2800.
Markets remain rangebound between 2700 and 2850 for 9 days. A breakout is expected. Direction unknown. Targets: 2550 or 3000.
Weekly charts: Last weeks' bullish hammer has been fully retraced.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 21-01-09

This is for education purpose only and may not be useful for trading

Daily charts: as expected, 2 day swing gives a whipsaw. Now in sell mode SL 2870.
Markets remain rangebound between 2700 and 2850 for 8 days. A breakout is expected.
Weekly charts: despite last weeks' bullish hammer, markets unable to sustain at the highs. Markets are still trading in last week's range and price behaviour is as yet, not supportive of a strong up move.
Intraweek, sustaining above 2800 is critical. So far this has not happened.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 20-01-09

This is for education purpose only and may not be useful for trading

Daily charts: 2 day remains in buy mode despite the strong gap down. SL 2754.

Chances of whipsaw are high due to sideways nature of market.

Markets are now rangebound between 2700 and 2850 for 7 days. A breakout is expected.

Weekly charts: despite last weeks' bullish hammer, markets unable to sustain at the highs. Markets are still trading in last week's range and price behaviour is as yet, not supportive of a strong up move.

Intraweek, sustaining above 2800 is critical.

20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 19-01-09

This is for education purpose only and may not be useful for trading

Daily charts: 2 day swing gives a buy. Reversal value: 2754.

Given the nature of the market, better ignore short term swings as these can whipsaw.

Chances of a lower top being formed are high as markets rising on very low volumes.

Weekly charts: buy mode with swing reversal at 2700. A bullish hammer is formed last week. This week, sustaining above 2800 is critical..

20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 16-01-09

This is for education purpose only and may not be useful for trading


Daily charts: Mkt rangebound over 4 days. Breakout above 2850 will be bullish for few days. Most likely a lower top can be formed so better to stay out.

Intraday (Monday), weakness if markets unable to sustain above 2760.

Weekly charts: buy mode with swing reversal at 2700. A bullish hammer is formed
this week. Next week, sustaining above 2800 is critical..

20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 15-01-09

This is for education purpose only and may not be useful for trading

Daily charts: Short trades still hold SL 2853.

Weekly charts: buy mode with swing reversal at 2800. This is likely to whipsaw as mkts hve been rangebound for 3-4 weeks. Tomorrow is Friday so weekly close will give correct picture.

20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 14-01-09

This is for education purpose only and may not be useful for trading

Daily charts: Strong up day but on low volumes. Short trade will force exit if markets close above 2853.
Even then buy can FAIL as the recent correction is bigger than recent rally. Any bounce will be limited to RSI resistance (EOD charts).
Weekly charts: buy mode with swing reversal at 2800. This is likely to whipsaw as mkts have been rangebound for 3-4 weeks.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 13-01-09

This is for education purpose only and may not be useful for trading



Daily charts: Short signal generated on 9-JAN. Trend down with SL 2830.
Weekly charts: buy mode with swing reversal at 2800. This is likely to whipsaw as mkts have been rangebound for 3-4 weeks.
20 day swing : in sell mode (SL 3150). The earlier BUY signal has failed.

Nifty EOD Chart 12-09-2009

This is for education purpose only and may not be useful for trading

Daily charts: Mkts break 2800 and trend is down. SL for shorts is now 2930. Tight SL 2830.
Strangely, the expected sell off did not happen when 2800 broke. So markets may remain rangebound for a day or so.
Weekly charts: buy mode with swing reversal at 2800. This is likely to whipsaw as mkts hve been rangebound for 3-4 weeks.
20 day swing : has given a sell today as markets closed below 2812.
Since the earlier BUY signal failed, it means the current short signal can be profitable (SL 3150).

Nifty EOD Chart 09-01-09

This is for education purpose only and may not be useful for trading

Daily charts: Trade short if markets unable to sustain above 2930. SL at 3150.
More shorts can be added if 2800 breaks.

Weekly charts: buy mode with swing reversal at 2800. This is likely to whipsaw as mkts hve been rangebound for 3-4 weeks.

Other comments: The 20 day swing will give a sell if markets close below 2812. Incidentally markets made a low of 2810 and recovered.

Nifty eod Chart, 07-01-09

This is for education purpose only and may not be useful for trading

3040 breaks forcing an exit of the buy signal. This was anyway expected to be "unreliable".
Today's price action creates a top at 3100-3140 levels AND generates a sell signal.
Crucial level is 2800 (give or take 20 points). Weekly charts will give sell if this
level is broken on Friday.
Trading strategy: short on any bounce or 50% retracement SL 3150.

Nifty EOD Chart 06-01-09

This is for education purpose only and may not be useful for trading



Buy signal holds...Stoploss 3040

Next resistance at 3240...previous top.

Mkts to continue trading within channel (EOD charts).

Nifty EOD Chart 05-01-09

This is for education purpose only and may not be useful for trading



Buy signal holds...Stoploss 3020.

Next resistance at 3240...previous top.

Mkts to continue trading within channel (EOD charts).

Nifty EOD 02-01-09

This is for education purpose only and may not be useful for trading



Buy signal holds...Stoploss 2960.

Strong resistance at 3100...previous top and trendline resistance.

Mkts to continue trading within channel (EOD charts).