NIFTY BREAKDOWN FROM UPTREND CONFIRMED TODAY

Sep 27, 2017

After break down from the upward sloping trendline on 25/09/17 nifty today i.e. 27/09/17 tried to move upward with a gap up open of 50points but experienced heavy selling pressure at the said trendline thus confirming that the erstwhile support has now become a strong resistance.

Sep 29, 2017

Note

As expected today i.e. 29/09/17 was a very turbulent day, pertinent to note that selling pressure on Nifty originated at the extended downward sloping trendline connecting the highs of 02/08/16,04/09/17,08/09/17 and the closing of 26/09/17. Furthermore the days low/momentary support came at the 100EMA Daily. Expecting more intraday turbulence before emergence of a new trend/direction.

Oct 3, 2017

Note

Nifty bull vs bear tug of war at the hitherto mentioned trendline

Oct 5, 2017

Note

Today i.e.05.10.2017(Thu) Nifty's day high/momentary resistance came at the 50MA Daily, but the day's low zone of 9880/90 was tested twice, pertinent to note that this is the 50EMA Daily. An observation of the hourly chart indicates that nifty failed to crossover 200EMA hourly twice i.e. late yesterday and early today. It's still trading below the cardinal upward sloping support trendline(thick Black) that was breached on the downside on 25/09

Oct 6, 2017

Note

Trader folks be careful at 9980/90 levels

Oct 8, 2017

Note

Nifty at a very crucial level, longterm black trendline + 61.8% fibo level of fall from 19/09/17 to 28/09/17+ 20MADAILY

Oct 9, 2017

Note

A doji at crucial level as hitherto mentioned, signals indecision. Stay cautious

Oct 10, 2017

Note

TWO back 2 back dojis on daily chart, indicates gross indecision, traders who r long keep strict sl's.