abhishekmittal1

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...

abhishekmittal1 Updated 

Range - 19549/19780 Extended range - 19465/19862 Below average volume on 2nd consecutive day yesterday tells that traders are being cautious & waiting for clarity on the government shutdown issue in the US. Rising dollar index & US bond yields are another reason of concern. Nifty is likely to test the bottom of the channel and touch 19600 which is a strong...

abhishekmittal1 Updated 

Range - 19561/19786 Extended Range - 19479/19868 Looking at the low volume yesterday, no wonder we closed with a doji. Clearly the big hands are waiting for clarity on the government shutdown in the US. Closing again at the same spot on 2 consecutive days conveys support at that level. Anyways the long formed channel will not be easy to break. But once done, we...

abhishekmittal1 Updated 

Range - 19564/19783 Extended Range - 19484/19863 Looks like Nifty will test bottom of the channel from where slight recovery can be expected. If the channel is broken on the downside on weekly basis, we can see massive long unwinding.

abhishekmittal1 Updated 

Range - 19630/19853 Extended Range - 19548/19935 Market is negatively biased now in medium to short term. That said, rate of decline for Nifty should reduce from here. We can even expect slight buying around the strong support level of 19542, if we reach there.

abhishekmittal1 Updated 

Close likely to be in - Range - 19785/20016 Extended Range - 19594/20207 Nifty has some support at middle of the channel & once that is broken, we can even see 19715 in next 1-2 sessions. 10 DMA is at 19950 and a strong resistance on the upside. Options data suggest upside has another strong resistance at 20050. P.S. - Had mentioned on 13th Sep analysis that...

abhishekmittal1 Updated 

Likely range for the day - 20019/20246 Fall in broader market was more than that Nifty's closing represented in the last session. Clearly its time to trade Index and/or selective stocks. Traders are cautious due to rising brent, dollar index & ahead of Fed's meeting this week. Other major global events are also lined up from China & Japan this week. Overall...

abhishekmittal1 Updated 

Very high volume, bullish kicker candle, 3.7% fall in Indiavix in the last trading session, all indicates that the uptrend is likely to continue but cautiously since crude is at all time high. Markets may see a more confident movement post the Fed's meeting this week. Likely range for the day - 20074/20307

abhishekmittal1 Updated 

Nifty's base has shifted higher. Traders are being cautious at higher levels because of rising Brent. Also, maybe the market is waiting for Fed's decision on rate hike in next week. Domestic markets are fine otherwise & are expected to linger higher toward 20250 in next 1-2 sessions. Today's likely range - 19950/20250

abhishekmittal1 Updated 

Nifty has support at 19950 now & is poised to touch 20200 in next 1-2 trading sessions. The momentum can take it to 20275 after a mild resistance at 20195. Markets are susceptible to negative news at all time high levels. So hedge positions if trading in F&O. Likely range for the day 19946/20193.

abhishekmittal1 Updated 

Pressure on Nifty may continue for 1-2 sessions post which Nifty is likely to reach 20200 & up. Indiavix has risen again yesterday indicating bears are in a mood to stand up against bulls. Upside looks restricted to 20150 and downside to 19836 today.

abhishekmittal1 Updated 

Nifty closed near day's low in red with high volume indicating a negative trend. Trend indicators also confirm a short to medium term down trend. Its a sell on rise market. Nifty will remain in a sideways to down trend in near term & every will be an opportunity to sell/exit longs.