Nifty, Sensex chug along, we continue to stay cautious !
As Nifty & Sensex chug along, we continue to stay cautious. In our last post we mentioned the importance of breaking the level of 7996 with the right price action, in order for bulls to take charge. Now that we are close to 7940, it becomes important to clarify what we […]
NIFTY bulls and bears in a fix
NIFTY has been in a range since last few days. Unfortunately, clarity evades us as the level of 7691 on the downside has not been broken by NIFTY, which leaves us with a possibility of major rally in NIFTY. Unless the level of 7996 is broken on the upside with […]
NIFTY Gaps down: Should you buy?
Bihar Poll results help beat down already weak NIFTY. NIFTY has opened gap down. There is a common myth in Technical Analysis which goes “All gaps should be closed before sustainable trend”, which is a myth because it is not necessarily true, which means if it may or may not […]
Is Nifty headed for retest of Modi Era Support Range?
Twice before stochastic divergence coincided with NIFTY halting its decline. The chart below shows how close is stochastic currently to those levels. NIFTY is also presenting a brief divergence as while 2nd Nov. lows on NIFTY have been broken and NIFTY has made a substantial new low today, stochastic have […]
NIFTY Support Zone Update
NIFTY cracks from our resistance zone mentioned in the last update on NIFTY. It now hovers above the crucial support zone between 8055-8088, with stochastic pointing towards further weakness, at the same time the momentum oscillator has ‘flattened’ instead of making new lows, while NIFTY today made a new low. We […]
NIFTY faces tough resistance around 8320. It is a crucial resistance for NIFTY to overcome. Stochastic & momentum oscillators point to some sort of correction in the short term. One would be well advised to refrain from building long positions until a break of this resistance level.
Sensex and a market indicator: ET News
On a day the Sensex rallied over 500 pts (564 points to be exact) ET carries an article titled why it may fall to 22000 on its front page. The article points to the disbelief in the current rally which has traveled quite quickly from 24923 to current levels and […]