Wednesday 28 December 2016
Nifty update
Sunday 25 December 2016
Nifty Spot View ( 26/12/16 - 30/12/16 )
Wish all the readers a very very Merry Christmas!!!
As we approaching the last trading week of 2016. I hope that the levels posted in the weekly newsletter must have helped in your trading in 2016.
Last Year's open was at 7938 Bulls will try their level best to give a close above this level.
As posted in the last week's newsletter Nifty tried to find support in the zone of 7940-7916.
From 7940-7916 to 7896 it's an important support zone. There are multiple supports in this zone. Nifty must hold this support zone. Bulls need to hold 7919-7890 levels to give a strong upwards rally. And a close below 7890 will open the gates for the speedy targets of 7850-7710-7570.
Major resistance levels are 8052- 8110-30 - 8255-8255-8270 - 8342 - 8434-8442 - 8510 - 8600 - 8640.
Major support levels are 7940 - 7916 - 7896, 7850,7833, 7715.
** Disclaimer: these are my personal views and for educational purpose and trade taken on these observation should be traded with strict Sl. Please also read the detailed Disclaimer mentioned in the Right side of Blog.
As we approaching the last trading week of 2016. I hope that the levels posted in the weekly newsletter must have helped in your trading in 2016.
Last Year's open was at 7938 Bulls will try their level best to give a close above this level.
As posted in the last week's newsletter Nifty tried to find support in the zone of 7940-7916.
From 7940-7916 to 7896 it's an important support zone. There are multiple supports in this zone. Nifty must hold this support zone. Bulls need to hold 7919-7890 levels to give a strong upwards rally. And a close below 7890 will open the gates for the speedy targets of 7850-7710-7570.
Major resistance levels are 8052- 8110-30 - 8255-8255-8270 - 8342 - 8434-8442 - 8510 - 8600 - 8640.
Major support levels are 7940 - 7916 - 7896, 7850,7833, 7715.
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| Nifty Spot |
** Disclaimer: these are my personal views and for educational purpose and trade taken on these observation should be traded with strict Sl. Please also read the detailed Disclaimer mentioned in the Right side of Blog.
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Monday 19 December 2016
Nifty Spot View ( 19/12/16 - 23/12/16)f
Nifty respected the levels of 8270 on the upper side & 8070 on downside. Nifty is rangebound in the zone of 8270-8070. A close above or below this range will open the gates for next zone.
On 20th Dec price & time may get squared with each other and we may witness a one sided movement. Levels to watch for supports are 8070-8049.
Nifty made a n inside bar on weekly charts. So, the view remains the same.
On a broader view the major worries will begin only & only if Nifty spot gives a close below 7910.
Till then every correction is a buy.
Major resistance levels are 8255-8255-8270, 8342, 8434-8442, 8510, 8600, 8640.
Major support levels are , 8130, 8070, 7916, 7896, 7850,7833, 7715.
On 20th Dec price & time may get squared with each other and we may witness a one sided movement. Levels to watch for supports are 8070-8049.
Nifty made a n inside bar on weekly charts. So, the view remains the same.
On a broader view the major worries will begin only & only if Nifty spot gives a close below 7910.
Till then every correction is a buy.
Major resistance levels are 8255-8255-8270, 8342, 8434-8442, 8510, 8600, 8640.
Major support levels are , 8130, 8070, 7916, 7896, 7850,7833, 7715.
Sunday 4 December 2016
Nifty Spot View ( 05/12/16 - 09/12/16 )
Last week Nifty moved on the expected line. The pressure date showed its effect on 1st Dec and made the high of 8250 on this date.
On Monday, Nifty took support exactly at the level of 8070 & made the high very near to our level of 8255. All the levels were mentioned here very well in advance.
Nifty met our second target on the long side as well as second target on the short side.
This week due to RBI policy we may see very volatile movements. There are possibilities that Nifty may revisit 7900 levels again. Once again we are approaching the support zone.
7917-7897-7850-7833 are very strong & important levels to consider.
A close below 8027 may take Nifty toward 7917-7833 zone.
Major resistance levels are 8255-8255-8270, 8342, 8434-8442, 8510, 8600, 8640.
Major support levels are 8070, 7916, 7896, 7850,7833, 7715.
On Monday, Nifty took support exactly at the level of 8070 & made the high very near to our level of 8255. All the levels were mentioned here very well in advance.
Nifty met our second target on the long side as well as second target on the short side.
This week due to RBI policy we may see very volatile movements. There are possibilities that Nifty may revisit 7900 levels again. Once again we are approaching the support zone.
7917-7897-7850-7833 are very strong & important levels to consider.
A close below 8027 may take Nifty toward 7917-7833 zone.
Major resistance levels are 8255-8255-8270, 8342, 8434-8442, 8510, 8600, 8640.
Next pressure dates are 5th Dec- 20th & 29th Dec.( The effect of PDs can be seen in + - day).
** Disclaimer: these are my personal views and for educational purpose and trade taken on these observation should be traded with strict Sl. Please also read the detailed Disclaimer mentioned in the Right side of Blog.
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