abhishekmittal1

09:10

abhishekmittal1 Updated 

Day range - 19569/19818, Extended ragne 1 - 19477/19910, Extended range 2 -19359/20028 Nity closed in red as expected with a Bearish harami candlestick pattern on daily chart. It worthy to note that a similar patter existsion a weekly chat also. That said, weekly chart indicates a strong support at 19600, Options data also indicate down side till 19590 for...

13:35

abhishekmittal1

Closing Range - 19609/19852. Extended range 1 - 19519/19942, Extended range 2 -19415/20046 Nifty closed in Green with high volume but as expected, there was some profit booking from higher levels. This is natural also since Nifty has come up approx. 900 points from the recently lows of 18850. During this down move, Nify can come down to fill the gaps, which were...

11:06

abhishekmittal1

Closing Range - 19645/19884. Extended range 1 - 19557/19972, Extended range 2 -19448/20081 Nifty closed in green with high volumes. There was profit booking from days high. While the major trend remains positive now, we can expect more profit booking in the coming session or a sideways movement before Nifty finally move towards all time high. Posible trade:...

13:49

abhishekmittal1

Closing Range - 19560/19778. Extended range 1 - 19476/19873, Extended range 2 -19372/19977 Nifty opened gap up above 100 DMA which was acting as resistance and took support at 50 DMA 19580. Looks like Nifty has come out of the channel downward trending channel finally & ready to trend up. Next meaningful resistance is at 19865. 19550 will act as a strong support...

16:02

abhishekmittal1

Closing Range - 19329/19556. Extended range 1 - 19246/19639, Extended range 2 -19141/19744 Nifty is facing resistance at 100 DMA as expected and formed a Bearish Harami pattern on weekly time frme and an Evening star candlestick pattern considering last 3 candles on day time frame, which is rare but a strong one indicating an end to an uptrending price. It worthy...

14:29

abhishekmittal1

Closing Range - 19312/19537. Extended range 1 - 19230/19619, Extended range 2 -19125/19724 Nifty closed in Green with low volumes (maybe due to festival) but couldn't surpass high of the last session. The candle formed conveys indecision on both day & weekly timeframe. 20 DMA down by 20 points since last session & provided support to Nifty. 100 DMA inched 10...

11:30

abhishekmittal1

Closing Range - 19283/19505. Extended range 1 - 19202/19587, Extended range 2 - 19104/19685 Nifty formed a long red bar in the last session with decent volumes. Close above the channel in the last 2 days would have been more convincing if body of the candles were bigger. 100 DMA is providing resistane to Nifty as expected and 20 DMA is providing support. Nifty...

11:26

abhishekmittal1

Closing Range - 19292/19519. Extended range 1 - 19208/19603, Extended range 2 -19095/19716 Nifty formed another Hammer and closed outside the downward trending channel for the 2nd day. Also, the close is above 20 DMA which will now act as a support 100 DMA at 19469. Next trading session will be volatile owing to Nifty's weekly expiry. This may put Nifty to the...

13:26

abhishekmittal1 Updated 

Nifty formed a bullish Hammer today with decent volume giving confirmation to the Bullish Kicker candlestick pattern formed yesterday. All these helped give Nifty a close just above upper edge of the channel. Though a confirmation candle in next session will confirm if the bullish move will continue, but Nifty is likely to remain in a positive territory, though at...

11:43

abhishekmittal1

Closing Range - 19298/19523. Extended range 1 - 19216/19605, Extended range 2 - 19112/ 19710. Nifty opened gap up to form a Bullish Kicker candlestick pattern and closed near the upper edge of the downtrending channel. Volumes are slightly below average & closing in the next session 2 sessions is going to be extremely important to decide market direction post...

12:50

abhishekmittal1 Updated 

Closing Range - 19120/19339. Extended range 1 - 19039/19420, Extended range 2 - 18941/ 19518. Nifty is inching awary from 200 DMA in every session but the real test will be when it reaches the top of the downwards trending channel. Unless we see a close above the channel on a day time frame and preferrably with another day's confirmation cancle, we need to be...

11:45

abhishekmittal1

Closing Range - 19022/19243. Extended range 1 - 18941/19324, Extended range 2 - 18846/19419. Looks like the Fed event bought bulls back into the system while bears contine to rule, collectively giving a Doji. Middle of the channel is a strong resistance, which Nifty couldn't breach in the last session. That said, Indiavix cooled by 8% indicating a limited...

12:01

abhishekmittal1

Closing Range - 18869/19108. Extended range 1 - 18782/19195, Extended range 2 - 18666/19311. Nifty closing around day's low indicate that traders are expecting the downtrend to continue in the next session as well. Fed's comments on the policy decision will decide the fate of next tradnig session majorly. Possible trade: Wait for markets to settle before taking...

13:28

abhishekmittal1 Updated 

Closing Range - 18961/19196. Extended range 1 - 18874/19283, Extended range 2 - 18773/19384. Nifty closed in red & got a rejection from middle of the channel as expected. Over 1.5 Cr new calls were written on Tuesday which will make it difficult for Nifty to cross 19250 level. That said, we can see Nifty is forming higher highs and higher lows in the last 3...

09:56

abhishekmittal1 Updated 

Closing Range - 19024/19255. Extended range 1 - 18939/19340, Extended range 2 - 18833/19446. Nifty gave a green candle showing resilience at the lower levels but with a low volume. It has reached near middle of the channel which can act as a resistance. A third green candle in the next trading session will give a lot of respite to the traders. But traders need...

16:18

abhishekmittal1

Closing Range - 18938/19155. Extended range 1 - 18858/19225, Extended range 2 - 18761/19332. The bears took some rest in the last trading session. Maybe since the markets were extremely oversold. There was no selling towads the closing - Looks like traders are confident of carrying positions over the weekend even though there is an imp event lined up on the other...

07:44

abhishekmittal1

Closing Range - 18443/18670. Extended range 1 - 18260/18853, Extended range 2 - 18360/18753. Nifty closed at day's low with a strong bearish Marubozu candle. The volumes were very high today (can be because of expiry as well though) confirming the negative trend. Nifty seems to be moving towards 200 DMA at 19600 levels. The fact that Nifty is extremely oversold...

12:40

abhishekmittal1 Updated 

Closing Range - 19008/19235. Extended range - 18926/19317. The only data point favouring an up market is that Nifty is around oversold levels. Every other data point leads to a further possible down move. Nifty has formed a downtrending channel. Nifty filled the 1st gap at 19190 & is likely to fill the next gap at 19000 soon before moving to further down towards...