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| Discuss Nifty analysis at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Market on Wednesday closed at near the support level of Nifty. As the global cues ... |
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#41
2nd May 2008, 09:21 AM
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Broad market trend is positive
Market on Wednesday closed at near the support level of Nifty. As the global cues are positive, our market also may join the rally. 5130 is the next support. The resistance at 5230 may be broken today. If so the rally will continue up to 5300.
Last edited by Saint; 7th May 2008 at 01:55 PM. 
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#42
3rd May 2008, 08:27 AM
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Re: Nifty analysis
pramodvarmag,
Many of us read your views on Nifty,many traders study E.Waves/ Wolfe Wave / Etc,all type of view points are shared here in this Forum.Plz continue to do so,but kindly avoid inserting a web-link of a particular site frequently,it may seem a subtle way of promotion. Asish
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#43
5th May 2008, 07:49 AM
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5300-5368 - A crucial resistance zone
The rally from 4630 to current levels was very fast and strong. Nifty is nearing to the medium term resistance zone and still the trend continues. Some heavy resistance is expected at 5300-5368 zone. Medium term profit taking can be seen at higher levels. 5368 is a tested resistance point two times after the big fall of Jan 21 and 22.
5197, 5160 are the expected immediate support levels for today. market may test 5300 on the upside.
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#44
6th May 2008, 08:43 AM
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5167 (200D SMA) is remaining crucial
As expected market facing resistance at higher levels when nearing to 5300. Todays trend is decisive at 5167, the 200 Day Simple Moving Average. Breaking this level, some profit taking up to 5120-5100 levels can be seen which will be healthy for short term uptrend.
US stockes were down on Monday. Dow jones corrected 88 points as crude oil hits new record high at $ 120.30 a barrel at NYMEX. Asian markets are also slipping. Japanese market are closed for holiday. Hangseng in green but China, Taiwan, Singapore etc are in red. Nifty May 2008 futures were at 5205.10, at a premium of 12.85 points as compared to spot closing of 5192.25. The NSE's futures & options (F&O) segment turnover was Rs 32,972.85 crore, which was lower than Rs 36,304.41 crore on Friday, 2 May 2008. NSE market breadth is remaining positive. 628:564 FIIs were net sellers for 236 crores in capital segment as NSE provisional data. All the Indian ADRs closed in red at NYSE.
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#45
7th May 2008, 09:25 AM
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Short term trend is decisive at 5100
On a profit taking from FIIs, as index lost ground at 5167, the next support is tested in 5120-5100 zone. 5100 level of Nifty is treated as a decisive point for the immediate uptrend for short term. Breaking 5100 can give more pain This level may be tested today during intraday trade. Market is likely to consolidate in 5100-5200 zone today.
US stock markets recovered smartly after a down opening. Do Jones could add 51 points to its previous closing. Asian markets are trading mixed. Japanese Market opened with a positive mood after two holidays. Nikkei is up by 130 points in morning session, but Hangseng is behind 130 points from previous close. Nifty May 2008 futures were at 5174.50, at a premium of 29.85 points as compared to spot closing of 5144.65. The NSE's futures & options (F&O) segment turnover was Rs 32,856.62 crore, which was lower than Rs 32,972.85 crore on Monday, 5 May 2008. Market breadth was negative on NSE. Adv : Dec was 325:876 According to provisional data FIIs were net sellers in capital segment for 815 crores. Crude oil NYMEX hits another record- $ 122.35 a barrel and settled at $ 121.84 Indian ARDs closed mixed at NYSE. Banks were losers while Technology stocks were gainers.
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#46
8th May 2008, 07:48 AM
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Support 5.1K under threat
As posted here yesterday, 5100 is tested and protected for the trading day. But the crucial support is likely under threat to maintain. If nifty fails to overcome above to 5160 and hold there, there is possibility to break 5100 and to fell into a new low. A mild support may be seen at 5087, the 13 day moving average, but it is not strong enough to overcome the sell pressure. 5050 or 5000 can be seen on a further fall.
The highly inflammable crude oil price drag the US markets down yesterday. The fuel price quoted a new high at $ 124.75 a barrel during the trade on Wednesday. Dow closed in a loss of 206 points. The indications are to fall more. Tracking western sentiment, all the Asian markets are also in red region. Nikkei is down by 128 points. Nifty May 2008 futures were at 5157.10, a premium of 21.60 points as compared to spot closing of 5135.50. The NSE futures & options (F&O) segment turnover was Rs 33,563.90 crore, higher than Rs 32,856.62 crore on Tuesday, 6 May 2008. The market breadth at NSE remaining weak. Advances: Decline was 466:723 FIIs were net buyers for 88 crores in capital market yesterday. All Indian ADRs are down 2 to 6 percent at NYSE. Last edited by pramodvarmag; 8th May 2008 at 08:05 AM.
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#47
9th May 2008, 09:16 AM
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4991-5062 zone is the critical zone for medium term uptrend
The short term support at 5100 is broken at open trade of Thursday and Nifty could not overcome the sell pressure throughout the day. The market could hold above 5050 which was the expected support for the day. The slipping is likely to continue.
The zone of 4991 to 5062 is very crucial for medium term. Nifty need to find a foot in this seventy points layer to maintain the uptrend in medium term. correction up to 4991 can be considered healthy. On upside, holding above 5100 can give strength to test 5145 and 5160. The inflation figure announced today at noon can influence the market sentiment. The crude oil price hike is the main threat to control inflation. US markets recovered a bit on Thursday. Dow could add 52 points and also other US indices are in green. But response from Asian peers are not so good. All they are extending losses in this morning. Nikkei has a loss of 127 points and HSI lost 240 in early session. Nifty May 2008 futures were at 5093, at a premium of 11.30 points as compared to spot closing of 5081.70. The NSE's futures & options (F&O) segment turnover was Rs 28,943.79 crore, which was lower than Rs 33,563.90 crore on Wednesday, 7 May 2008. NSE market breadth was weak. Advances : Declines was 383:798 FIIs were net sellers for 724 crores in capital segment NYMEX crude oil price is holding strong - $ 123.69 a barrel. Indian ADRS closed mixed at NYSE with a negative breadth.
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#48
12th May 2008, 08:16 AM
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4900 may be tested
The hourly indicators on Nifty show the some oversold condition ins the market. So some short covering may be seen when Nifty test the 4900 level, which is the next support level. 5050 can be acted as the immediate resistance level. Market likely to consolidate in this zone today. The crude oil price and inflation are the major threats to the bulls in market.
US markets are continuing fall. Dow slipped another 120 points. Asian markets are also in same mood. Nikkei is down by 23 points. Global sentiment is remaining weak. Nifty May 2008 futures were at 4978, at a discount of 4.60 points as compared to spot closing of 4982.60. The NSE'S futures & options (F&O) segment turnover was Rs 34,951 crore, which was higher than Rs 28,943.79 crore on Thursday, 8 May 2008. NSE market breadth is highly negative. Advances : Declines was 201:996 FIIs were net sellers in capital segment for 619 crores. Crude oil hits another record price - $ 126.05 a barrel
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#49
13th May 2008, 09:13 AM
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Markets to recover more
As posted yesterday market have done a good short covering after finding a support above 4900. Today the process of recovery may continue. The immediate target for Nifty is at 5080, after breaking 5050. The support is expected at 4980 and 4920.
Wall street recovered 130 points in Dow Jones. Asian markets are tracking U.S. cue. Nikkei is in gain of 88 points in morning session. Hangseng is trading flat. Nifty May 2008 futures were at 5026.90, at a premium of 14.25 points as compared to spot closing of 5012.65. The NSE's futures & options (F&O) segment turnover was Rs 41000.80 crore, which was higher than Rs 34951 crore on Friday, 9 May 2008. Market breadth is remaining negative at NSE. Advances : Declines was 336:863 FIIs were net sellers for 210 crores in capital segment, according to provisional data from NSE. Some profit taking in crude oil . $ 124.5 a barrel. Indian ADRs closed mixed at NYSE.
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#50
14th May 2008, 08:16 AM
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4900 is crucial
It was a very disappointing day for indices. Nifty could not sustain above 5050, then fell down to find a support. The expected level 4980 is broken. Now we are looking to 4900 as a key level to decide the further direction. The broad market may consolidate with a negative bias.
US indices corrected a bit. Dow jones was down by 44 points. Asian markets are trading weak. Nikkei is flat while Hangseng has lost hundred and more in open trade. Nifty May 2008 futures were at 4954, at a discount of 3.80 points as compared to spot closing of 4957.80. The NSE's futures & options (F&O) segment turnover was Rs 38107.72 crore, which was lower than Rs 41000.80 crore on Monday, 12 May 2008. Market breadth was slightly positive in weak market. 607:582 (NSE) Both FIIs and DIIs were buyers on Tuesday. Crude oil price at NYMEX is booming, hit $126.5 a barrel Almost all Indian ADRs closed in red at NYSE.
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