abhishekmittal1

15:32

abhishekmittal1 Updated 

Closing Range - 19171/19390. Extended range - 19090/19471. Nifty saw around 300 points down move in the last trading session and formed a Bearish Kicker candle with close under 100 DMA, but with a low volumes. Nifty is at a critical support level and risk reward ratio is in favour of bulls but if this level breaks on closing basis, Nifty can open to fill gaps at...

13:58

abhishekmittal1 Updated 

Closing Range - 19512/19735. Extended range - 19429/19818. Bears likely to drive market down or reasons listed below - 1. Nifty closed uder 50 DMA, which will act as a resisatance now 2. Gravestone doji candle pattern indicates further down move. We should wait for a confirmation candle though in the next session before taking major directional decisions. 3....

12:18

abhishekmittal1 Updated 

Closing Range - 19512/19735 Extended range - 19429/19818 Strong resistances of 20 & 50 DMA in 19623-19659. Unless there is a gap up, Nifty will struggle to go past 19660. For any meaningful upward movement, 19700 should go past on hourly chart. Volumes were decent Nifty formed a near Inverted hammer. Downside support is there at 19500 & 19430 for now. Be cautious...

12:50

abhishekmittal1 Updated 

Closing Range - 19558/19783 Extended range - 19476/19865 Nifty gave an unexpected downward move of 180 points due to global unrest. Low volumes in the last 2-3 days was hinting this maybe. The major support of 19700 was also broken. Now the next support is at 19600 & then 19550 and 19800 on the upside. P.S. - 0.5%-1% return on capital can be considered good in intraday.

12:46

abhishekmittal1 Updated 

Closing Range - 19700/19921 Extended range - 19618/20003 Bearish Harami formed in the previous session was negated today by a bullish hammer. The volumes are slightly better than yesterday's session. We again saw Indiavix cooling by another 3.5%. All these indicate a restricted downside. Nifty took resistance at the middle of the newly identified upwads channel....

10:40

abhishekmittal1 Updated 

Closing Range - 19616/19845 Extended range - 19533/19928 Low volumes, Bearish Harami candlestick pattern and unwinding of 1.4 Cr puts, all indicuate that Nifty will go lower from present levels. The only saving grace is a 4% jump in Indiavix indicating a restricted down side, which is expcted will about 19700. That said, nifty has formed a small uptrending...

17:50

abhishekmittal1 Updated 

Closing Range - 19641/19860 Extended range - 19561/19940 Nifty closed just above 20 DMA and has support of 50 DMA at 19607. Nifty closed in green with a high volume on 13th Oct. There was some nervousness at 19800 levels through. Looks like bulls want to eliminate all doubts before moving back into the channel. That's why it came down to fill the left gap. Such...

12:48

abhishekmittal1 Updated 

Closing Range - 19684/19903 Extended range - 19603/19984 Nifty got rejection from 19840 levels on both 11th & 12th Oct and formed a spinning top candle in the last session, meaning indecision. Indiavix cooled off by another 3.3% today indicating a limited downside. Overall appears to be a sideways move on 13th Oct. Nothing much to read into OI date since today...

08:16

abhishekmittal1 Updated 

Closing Range - 19572/19805 Extended range - 19488/19889 Nifty is well placed to enter the long uptrending channel again & resume it journey towards all time high. The conviction is based on the following points from the session on 11th Oct - -Support at 20 DMA -Vix cooled off by 2.5% -PCR slightly down to 1.2 -Put writer support at 19800 If something goes...

15:31

abhishekmittal1 Updated 

Closing Range - 19572/19805 Extended range - 19488/19889 The volumes have returned to the market. Short covering on 10th Oct has given the momentum Nifty needed to get back into the uptrending channel. But I will wait for another day's candle before concluding on direction bias for Nifty. Especially since PCR is aruond 1.3 now, giving an indiation of an oversold...

17:09

abhishekmittal1 Updated 

Closing Range - 19395/19628 Extended range - 19311/19712 Nifty again closed with a low volume and an indecision candle just above the downward channel. There is some kind of support zone at 19460-19520. If this is broken on the down side, we can easily see 19400 or lower lower levels. Upside has resistane at 19655. Possible trade can be a no trade! Compulsive...

17:40

abhishekmittal1 Updated 

Closing Range - 19547/19758 Extended range - 19469/19836 Extremely low volumes with an indecision candle again calls for a caution. A confirmation candle in the next session is important to be studied to confirm an up/down trend. Nifty might come down to fill the gap at 19575 before resuming upward journey or directly move into the uptrending channel. The latter...

13:30

abhishekmittal1 Updated 

Closing Range -19433/19656 Extended range - 19351/19738 Nifty formed a spinning top candle today conveying an indecision but since it occured at a downtrend, it is likely to give ccnotrol to the bulls tomorrow and a short covering cannot be ruled out if global markets support. That said, 19600-19620 is a strong resistance zone where 50 DMA is placed. 19350 is...

09:16

abhishekmittal1 Updated 

Range - 19317/19554 Extended range - 19231/19640 Nifty bounced from lower level of the newly formed channel and faced resistance from its middle, ending up to form a Hammer today. This indicates that we can have a bullish day on 5th Oct. 19500-19550 is likely to act as a resistance zone on the up side, while down side should be restricted to 19350 which is the...

11:15

abhishekmittal1 Updated 

Range - 19407/19648 Extended range - 19319/19736 The Bullish Harami candlestick pattern is negated with today's negative close. This is the first time after Mar 23 that Nifty has broken the channel. Note that the magnitude of up/down, movement once a channel is broken, is directly proportionate to the time the index has spent in the channel. Nifty has formed a...

abhishekmittal1 Updated 

Range - 19520/19755 Extended range - 19433/19842 Nifty went far inside the channel in the last trading session but failed to hold & closed just below it in later 2nd half, overall forming a bullish harami pattern. That said, we need to see a confirmation candle today to confirm an upside directional move. Cannot be complacent with Nifty since it closed below the...

abhishekmittal1

Range - 19392/19653 Extended range - 19296/19749 Very high volumes, bearish engulfing candle, close below 50 DMA & close below bottom of the channel yesterday indicates bears got a good grip on market. That said, will wait for confirmation candle before taking any directional decision on Nifty. Possible trading for the day - A short strange can be created once...

abhishekmittal1 Updated 

Range - 19596/18835 Extended Range - 19508/19923 Nifty closed at day's high yesterday indicating that bulls are still in control but caution has to be maintained since below average volume indicate lack of confidence from big hands. Though we got a bullish engulfing candle and a close above previous day's close, we have 20 SMA at 19758, which will act as...