Nifty View :- Nirav Shah

[niravshah]

Nifty has broken down from channel below 4600 but managed to close above it. it did not witness panic below 4600. Move is very tricky around support of 4600. safe traders avoid taking any position in nifty.
RSI +ve Div. we may soon get a bounce but from which level is a case of concern.
it seems after a sharp fall from 5130 to 4600 add , its taking rest around support.

 

[niravshah]

Nifty Future: It has broken Out above 4650 and gave nice intraday move of 75 points straight. It is a temp. pause of down trend. Long term trend is severely down. Consider this as a pull back only. Nifty has made H&S pattern which is continuation pattern of long term bearish trend. This rise may face very stiff resistance @4850 & 4950.

Immediate support placed@ 4590.

Use all dips to 4650-4630 to go long with SL 4590 for a bounce back trade up to 4850

 

[niravshah]

Recommended to buy @4650-4630 . nifty made low @ 4640 and bounce of 100 points intraday. cheers

 

[niravshah]

Nifty Future: Yesterday I have recommended to buy nifty in the range of 4650-4630 . Nifty has made low of 4640 and bounced 100+ points intraday only. Hope readers have made some money out of it.

For now extreme short term trend is up with price target of 4850 & 4950.trend would change to down below 4590.

 

[niravshah]

Nifty Future: Break below 4580 , we may head towards 4450 .over all long term trend is down. Higher side resistances are placed@ 4720-4740.Nothing more to update due to range bound movement.

 

[niravshah]

Nifty Future: It has been holding 4580 level very well and gave nice bounce with follow up buying also.

Now cluster of resistances is placed@4800-4850 range. Nifty may consolidate for sometime before its next up move. Short term trend is bullish as far as nifty is closing above 4580.use all dips / panic to buy with Stop Loss 4580 on closing basis.

 

[niravshah]

Nifty Future: As mentioned strong resistance@4800-4850. Nifty future has made high of 4799 and back.

For now if nifty stays below yesterdays low of 4737 then it could witness quick intraday fall of 30-50 points. Upside levels same as earlier.

Bank Nifty : - At very major resistance level of 8465. Check Chart for details.

 

[niravshah]

Nifty Future: As mentioned its facing very stiff resistance @4800-4850 range. Nifty Future has attempted 4 times to break this range but failed. Overall market is very range bound & one should not trade non-directional market.

Only if Nifty future breaks 4850 we may see extreme short term bullish trend.

Downside support placed @ 4630-4650 & 4570(Major Support)

Bank Nifty Stopped Out.

 

[niravshah]

Nifty Future: Broken Out well above 4850.

For now next major resistance zone is placed@4915-4950 range. Down side strong support placed@4800 & 4770.

Go short slowly in the range of 4915-4950 with SL 4960 Or Buy Nifty slowly in the range of 4800-4775 with SL 4770.

Check Chart for details

 

[niravshah]

Nifty Future: Its been falling exactly from mentioned resistance zone of 4915-4950 (High was made@4918). Check Chart of 13-01-2012 )

I have recommended to go short in the range of 4915-4950 with Stop Loss 4960. We are in profit of more than 50 points. Keep Proper Trailing Stop Loss & book profit as per your choice.

Hop readers have made some money out of this call.

For now supports placed@ 4815 4795 4770 .

Resistance Zone same as earlier.

Regards,