NiftyEOD Chart, 31-03-09

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



EOD view: Expected bounce happens..this also had the benefit of bringing down the stoploss for short positions and accordingly giving a chance for fresh shorts.
Possible targets for this correction are given in hourly charts (Fib retracements).
2 day swing: in sell mode SL 3055.

NiftyEOD Chart, 30-03-09

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

EOD view: Rally terminates and market sells off. On RSI (5D) charts, markets were overbought and due for some correction. The 2 day swing also gives an exit so long positions shd have been closed.

Since markets are at RSI resistance, a bounce is possible and this will give chance for fresh positional shorts.

2 day swing: is now in sell mode SL 3123.

NiftyEOd Chart, 27-03-09

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

EOD view: Markets on one way trip up.... hourly charts overbought with divergences on RSI charts.

No compelling reason to short the market but too late to trade long....so stay out if you are doing nothing.

Use 2 day swing as trailing stoploss (3013). Reverse position if this is triggered.

NiftyEODChart, 26-03-09

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

EOD view: Markets on one way trip up.... hourly charts overbought with divergences on RSI charts.

No compelling reason to short the market but too late to trade long....so stay out if you are doing nothing.Use 2 day swing as trailing stoploss (2923).

Reverse position if this is triggered.

NiftyEOD Chart, 25-03-09

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

EOD view: Sideways movement without any new high or low.

Yesterday's shooting starfailed to have any impact. Thanks to this, the 2 day swing low has now jumped up to 2914.Use 2 day swing as trailing stoploss.

Reverse position if this is triggered.

NiftyEOD Chart, 24-03-09

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

EOD view: 4th gap up...exhaustion???....intraday rally fizzles out and markets
close near day's low.
Gap down opening will set tone for some more downsides....on the other hand,
range bound trading within todays' range will postpone the correction.
Use 2 day swing as trailing stoploss.

NiftyEOD Chart, 23-03-09

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

EOD view: Breakout on price channel and RSI.

Use 2 day swing as trailing stoploss.

Today was the 3rd gap in this rally....watch for 4th gap (exhaustion).

NiftyEOD Chart, 20-03-09

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

EOD view: Markets rangebound for last 2-3 days.... this is gap and Fib resistance.

Long positions shd be held with stoploss 2770. If this breaks on closing basis, one can write 2800 calls.

Markets are at upper end of new channel drawn (EOD charts). NExt week shd be interesting.

NiftyEODChart, 19-03-09

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



EOD view: Markets close above 2800...this is gap and Fib resistance. Tomorrow, is Friday and last day of the week so price action is important.
Continuation of uptrend will imply this next week as well.
Long positions shd be held with stoploss 2770. If this breaks on closing basis, one can write 2800 calls.

NiftyEOD Chart, 18-03-09

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

EOD view: Markets did not sustain above 2800...this is gap and Fib resistance.The rally is now 7 days old and this bear phase, most rallies have seldom lasted longer.

Long positions shd be held with stoploss 2740. If this breaks on closing basis, one can write 2800 calls.

NiftyEOD Chart, 17-03-09

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



EOD view: Markets take a pause near 2800...this is gap and Fib resistance.The rally is 6 days old and this bear phase, most rallies have seldom lasted longer.



Long positions shd be held with stoploss 2700. If this breaks on closing basis, one can write 2800 calls.

NiftyEOD Chart, 16-03-09

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

EOD view: NIFTY retains uptrend....watch for 3rd gap up.

Possible target for this rally is 2800...this is gap resistance and also Fib resistances.

2 day swing still in buy mode....best strategy is buy on declines so you are alwayscloser to stoploss.

NiftyEOD Chart, 13-03-09

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

EOD view: NIFTY breaks out of falling channel and stages a smart rally. Incidentally, this is the second gap so trade fresh longs with tight stops.
Possible target for this rally is 2800...this is gap resistance and also Fib resistances.
2 day swing has generated a buy today (markets opened above 2640, SL for shorts).
Sidenote: check RSI resistances.

NiftyEOD Char, 12-03-09

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

EOD view: As triangle has broken on downside, expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
Trading strategy: Short on any bounce near stoploss (2 day swing).

UPDATE: Despite strong gapup opening, markets unable to sustain above Friday's high of 2630 spot. Strong res at 2660 spot.
20 day swing : The recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.

NiftyEOD Chart, 09-03-09

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

EOD view: Trend is down...as triangle has broken on downside, expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
Trading strategy: Short on any bounce near stoploss (2 day swing). The 'panic' low made in this correction would be the last phase of the price wise correction.
UPDATE: As expected, markets reverse from RSI resistance but are still trading above support. So expect some sideways movement till some level breaks. In spot, the key level to watch is 2500.
20 day swing : The recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.

NiftyEOD Chart, 06-03-09

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

EOD view: trend is down...as triangle has broken on downside, expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
Trading strategy: short on any bounce near stoploss (2 day swing). The 'panic' low made in this correction would be the last phase of the price wise correction.
UPDATE: markets bounce off RSI supports (EOD charts) but also hit RSI resistance. So upsides are limited.
Weekly charts: this week opens with a gap down and threatens a break of 2660 and a retest of 2200. Clearly, markets are unable to sustain above RSI resistance (14 bar).
20 day swing : the recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.

NiftyEOD Chart, 05-03-09

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

EOD view: trend is down...as triangle has broken on downside, expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
Trading strategy: short on any bounce near stoploss (2 day swing).
The 'panic' low made in this correction would be the last phase of the price wise correction.
UPDATE: look at RSI supports EOD charts for a possible bounce.
Weekly charts: this week opens with a gap down and threatens a break of 2660 and a retest of 2200. Clearly, markets are unable to sustain above RSI resistance (14 bar).
20 day swing : the recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.

NIFTY EOD Chart, 04-03-09

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

EOD view: trend is down...as triangle has broken on downside, expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
Trading strategy: short on any bounce near stoploss (2 day swing).
The 'panic' low made in this correction would be the last phase of the price wise correction.
Weekly charts: this week opens with a gap down and threatens a break of 2660 and a retest of 2200. Clearly, markets are unable to sustain above RSI resistance (14 bar).
20 day swing : the recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.

NiftyEOD Chart, 03-03-09

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

EOD view: so markets break 2660 spot (equiv level on sensex 8630 was broken on Monday). Since triangle has broken on downside, expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
Trading strategy: short on any bounce near stoploss (2 day swing). The 'panic' low made in this correction would be the last phase of the price wise correction.
Weekly charts: this week opens with a gap down and threatens a break of 2660 and a retest of 2200. Clearly, markets are unable to sustain above RSI resistance (14 bar).
20 day swing : the recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so use 2 day swing to lock in gains.

NiftyEOD Chart, 02-03-09

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

EOD view: gap down opening sets the tone for this week. However, markets are still holding above 2660 spot and are also at RSI supports. A bounce is possible but if this does not happen, then a break here can lead to retest of earlier lows at 2500/ 2200.
Regarding the triangle, if the break on downside is valid, then we can expect 2970-(3237-2503)=2236. If recent peak is considered, then target is 2798-(3237-2503)=2064.
The 'panic' low made in this correction would be the last phase of the price wise correction.
Weekly charts: this week opens with a gap down and threatens a break of 2660 and a retest of 2200. Clearly, markets are unable to sustain above RSI resistance (14 bar).
20 day swing : the recent buy signal has failed and SL for sell is at 2970. The sell has been generated near supports so this signal will become safe only on confirmation.