Nifty Update for December 5 - Inder Bhatia

The Indian market opened on a flat note but saw smart buying across the board and closed with handsome gains. After lower IIP number 8.40 percent for the week ended November 22, the market broken the narrow range and close near the day's high. For the coming session, if Nifty is able to cross 2436-2850, the main hurdle it could test is the 2950-3070 zone. On the lower side 2730 is the support for the day and the main support is the 2633 zone.

Nifty Update for December 4 - Inder Bhatia

The Indian market opened on a positive note but drifted in to the red zone, trading lackluster and in a narrow range between 2600-2670, throughout the session and closed in the red zone. For the coming session if Nifty trades above 2695 it could test 2754. On the lower side 2570 would act as a support zone. Below this, the 2500 level is the main support. Markets are trading sideways, so one should wait for a breakout on either side.

Nifty Update for December 3 - Manoj Bhagra

The daily chart below closed with what one would call a hammer, if you are a follower of the oriental charts. What’s more important is that it jabbed the lower line of the triangle and now is sitting on the edge. I guess the bear just got bigger or is it just a false break to the down side? The 20-period MA is at approx 2810 level and upper trend line resistance is at our much tested and held 2860/70. Supports? There are none; only illusions of supports (anyway they don’t even hold like the resistances are doing). At the risk of being repetitive I am once again quoting a saying that there are no resistances in a bull market and no supports in a bear market.


Coming to the hourly chart, we can see that the triangle (drawn in dashed red and blue lines) is wasted. The price is right at the apex, with both the 20 and 50 periods MA’s nesting at 2700/2710. This might prove a resistance for tomorrow.

ll in all a bit confused state of things, if you are good at intraday scalping you are in the game, but if you are the positional types, its better to wait for clear signals to emerge. The broader levels discussed earlier on the weekend post still hold ground. How about practicin patience? Three important P’s to trading are: Patience, patience and a whole lot of PATIENCE!




"You cannot escape the responsibility of tomorrow by evading it today."

Abraham Lincoln

Unitech 3-Month Target Rs 80 - Rakesh Chandra

Unitech on weekly chart has completed a 2-3rd down wave (i.e. 1-23-4-5 wave completed). Now what. Accumulation zone. Weekly 4th wave up is on card. First target Rs 80? Let us see.

Nifty Future for December 3 - Rakesh Chandra

The upside move will not sustain. On an intra-day basis, book profits on the upper side. Nifty next day, buy above 2,661.26, with Stoploss 2,645. Targets are 2,688>>2,731>>>2,758.

Short below 2,644.74, Stoploss 2,661. Next day lower target is 2,618>>2,575>>>2,548.

Nifty Update for December 3 - Inder Bhatia

The Indian market opened gap-down on weak global cues. After opening the market moved in a narrow range till the afternoon session. However there was recovery in the later half session but the market closed in the red zone. Nifty had broken the support 2630 intraday but managed to closed above 2630. For the coming session trading below 2570 it can test 2500 and on other side 2740-2780 will act as a resistance zone. Market will react on global cues.

Nifty Update for December 2 - Inder Bhatia

The Indian market opened on a positive note and traded higher for the first session. As the day progressed the rally fizzled out and the market closed near the day's lows and in the red zone. For the coming session 2630 is a strong support. Breaking below 2630 could see the Nifty test 2580-2540 zone. On the upper side 2833 will act as a strong resistance zone.

Weekend Views On Nifty November 30 - Manoj Bhagra

I am going to be very short and sweet with my weekend analysis of Nifty. The weekly chart below has an Inside Bar. Logically the high of 2790 and the low 2633 need to be broken on either side to take the position, with the stop placed at the high or low of the IB, depending upon the direction of the trade. 2835 and 2870 are stiff resistances in case of a upward breakout. Below 2633 we have 2590/50 and once again all important 2500. No real bullish signals from the RSI and MACD yet.

The daily chart below has our triangle intact so not commenting much about it till we get the direction of the breakout. The 20-period MA is at 2830 and is likely to provide some resistance whereas the support is at 2640/50. There is a range contraction happening, waiting for a break!

The hourly chart below is where we have all the action happening, at least some clues there. This is the fourth time we are knocking on the red dashed trend line. It is said (just said, it is not the law) that if price knocks on a trendline three or more times, the chances of it breaking become high. We have a good support underneath at 2710/25 by the way of two converging MAs; the 20-period and the 50-period MA. A break above 2780, the price might attempt to aim for the 200-period MA at approximately 3030 levels. The flip side is the stiff resistance at 2870 and 2960; add to this the little negative divergence we are seeing on the MACD histogram.


We are nowadays reacting more to global cues and overnight news, so much care has to be taken in taking positions as all these opening gaps are really making the charts all the more difficult to interpret.

All substance is energy in motion. It lives and flows. Money is symbolically a golden, flowing stream of concretized vital energy - The Magical Work of the Soul

Nifty Update for December 1 - Inder Bhatia

Weekly Nifty had made INSIDE BAR breakout. Above 2834 a good upmove can be seen. However, if it breaks below 2504, we can see Nifty move to the lower side.

Buy BHARTI above 674 TGT 690 >706 Stoploss 664.

The Indian market opened on a positive note and closed in the green zone. After the terror attacks on Mumbai, the market remained closed Thursday. On Friday, the market opened on a positive note. The last session saw smart buying and the Nifty closed in the green zone. On the hourly chart, Nifty is forming an inverse head and shoulder pattern. Closing above 2790, it can test the 3050 zone. For any long 2630 will act as a support and stoploss.

Last week Nifty rose 2.39 percent on lower inflation number and decent GDP data. On the daily chart, Nifty is forming a bullish symmetrical triangle. If Nifty crosses 2840 we could test 3050-3100 levels. On the lower side 2630-2580 would act as a support zone. For the coming session closing above 2775 Nifty can test 2834-2883 zone. On the lower side closing below 2721 it can test the 2660 zone.

Buy PATNI above 142 TGT 153>165 Stoploss 136.