Index Analysis - Nifty & Bank Nifty

[sudoku1]

@Anil
d word HAWALA ref by u brings me 2 guess that your age is around 48 am i right ?

 

[sudoku1]

http://www.traderji.com/futures/91950-day-trading-futures-817.html

 

[anil_s_trivedi]

@Anil
d word HAWALA ref by u brings me 2 guess that your age is around 48 am i right ?

Dear sudoku,

No i just entered 30's...:clap:
Although have seen/heard many players of importance they place to such figures during their trading days.

Hope you will have something to share...about it...
IT may add something to my library...

 

[sudoku1]

Dear sudoku,

No i just entered 30's...:clap:
Although have seen/heard many players of importance they place to such figures during their trading days.

Hope you will have something to share...about it...
IT may add something to my library...

d word HAWALA was quite popular before FnO was introduced in Indian mkts.any one refereing it these days is believed 2 b in d mkt over years.so on this context i guessed ur age.maybe some one in ur family is/was active in our mkt n hence you are familiar wid dis word.



http://www.outlookindia.com/printarticle.aspx?86099

 

[anil_s_trivedi]

Nifty :

Support on hourly at 8080. Below this selling may resume.
first sign of weakness below 8100.
Todays a crucial one, if strength on charts it would fall till 8100 holding and then clear highs, or else drag till 8050-55 support zone as highlighted yesterday and if taken support there, then resume to upside.
So positionally long players should watch 8050-55 zone.

Bank Nifty:

support at 16000. Below this weaknesss on hourly.

 

[anil_s_trivedi]

As stated, Nifty will weak intraday below 8100 zone. But Bank Nifty first breached 16000 levels to hint it first.

Now, if its a corrective action then it can go till 8025-30 the gap zone to fill it and then it can bounce on. But if its a weakness on daily then it will break the zone and can test 7980 levels too. Failure to hold there will indicate bigger corrective action.

Hope you got it. The nature of correction at levels will reveals whether this weakness in for intraday only, or had its hand to spread on daily.

Now on 5min and hourly, strength above 8100-8105 only.

Bank Nifty:

weakness was visible below 16000. strength now above 16080 only.
Support at 15880-890 zone if holds good, else closing below it on daily will lead to bigger correction here.

 

[srri]

As stated, Nifty will weak intraday below 8100 zone. But Bank Nifty first breached 16000 levels to hint it first.

Now, if its a corrective action then it can go till 8025-30 the gap zone to fill it and then it can bounce on. But if its a weakness on daily then it will break the zone and can test 7980 levels too. Failure to hold there will indicate bigger corrective action.

Hope you got it. The nature of correction at levels will reveals whether this weakness in for intraday only, or had its hand to spread on daily.

Now on 5min and hourly, strength above 8100-8105 only.

Bank Nifty:

weakness was visible below 16000. strength now above 16080 only.
Support at 15880-890 zone if holds good, else closing below it on daily will lead to bigger correction here.

Your charts are very clear and easy to understand,Which software you are using?does it shows daily levels also?

 

[anil_s_trivedi]

Your charts are very clear and easy to understand,Which software you are using?does it shows daily levels also?

Dear srri,

Using metastock since my introduction to market...

 

[anil_s_trivedi]

Nifty Update:

Nifty Attempted to cross earlier day highs of thursday at 8115. But morning first hour rejection from the same, set bearish tone for the day on friday.
It tried to break lows of thursday at 8060, failed two attempts and price moved back into channel range quickly.

In all day closed with setting short term momentum down on daily. On daily, 8065-70 will set initial direction to decide. With prices breaching 8095 on upside or 8025-30 on downside to affirm direction.

so daily range is 8095 - 8065 - 8025...

Hourly having corrected its -ve divergence with prices holding 8050 range. Hourly i will stick with price action forcing downwards, unless hourly closing above 8095 levels.

Bank Nifty Update:

Daily closing here is not in good side. An accelerated downmove can be seen below 15850-90 levels. Here short term momentum is down on daily.
On upside, strength only above 16100 levels.
Hourly strength sign above 16030 if hourly closing above this level.

 

[umesh12]

Anil bhai, thanks for your views.

But there are few +ww in NF and BNF, ready for an upmove.

Let us wait for, that happens in next 2 trading sessions.