chambalabs

chambalabs

1. Nifty OHLC are below yesterday, after lots of consolidation - Bearish 2. The candle is green - Not Bearish, But with long upper wick, closing just below the yesterday's low - Bearish signs 3. MACD has crossed over Bearish. 4. With SL at 11770 and target 11305 - It seems like good Risk Reward Ratio 5. However, It clearly has taken support at 11618 level, which...

chambalabs

Today was a Red Dorji, with closing above yesterday's closing - a clear cut sign of indecisiveness. It might be spinning tops for the next few days. Avoid going long or short or take hedged trades. Wait for the trend formation before taking trade.

chambalabs Updated 

It's a indecisive Dorji candle today, after a red candle yesterday. On a Bearish trend and lower Highs, this could mean weakening of a bounce back. I would go short with a target of previous pivot - 11610 . Next target would be 10225

chambalabs Updated 

This is the second red candle that opened above the previous close of a red candle. Nifty may take support now. This doesn't mean that you go long, NOT at all. The sentiment still remains Bearish. It may take support and spend some time here, maybe a dead cat bounce and then continue it's downward correction. If you have already short it and haven't booked...

chambalabs Updated 

Nifty has failed to break 11235 and has taken it's support. So, this is where it might bounce back to 11550-11600. If you wanna book profit, book it now.... My view is still Bearish, I doubt if it will break it's resistance at 11550, so most probably, once it touches resistance, it will once again start dropping for 11000... So, wouldn't suggest to go long...

chambalabs

Spinning Tops in a narrow range usually signify mixed signals - it can move in either direction. So, it may bounce anyday upto 11550-11600 but, the direction clearly remains Bearish. It's preparing itself for a meltdown. 11250 is it's support, so it's spending some time here. Once it breaks this, our targets are - 11000, 10800 and 10450.

chambalabs Updated 

Nifty has once again broken the support of 11353. It may rebound but, it's going down. Short it.

chambalabs

11550 was a major resistance which Nifty failed to break. Is it ripe for short now?

chambalabs Updated 

Nifty has made a gap up opening and green candle closing, so it might be Bullish tomorrow. But, I am maintaining my bearish stand. It has resistance just above it at 11550. So, only take trade for short few hours with limited capital and strict stop loss...

chambalabs

Nifty is closing with a Dorji. That after a huge bearish engulfing candle. So, the sentiment is clearly bullish. But, since it has taken support, wait for it to break it before going short. It is today moved in it's narrow range of 11350 and 11550 of support and resistance. So, small trade in volume and duration within this support and resistance or whatever it breaks...

chambalabs

Nifty has made huge engulfing candle. But, more importantly it has breached it's trend line. But, don't short it as yet, it has taken support and the last resistance 11377. It has closed well above it. This may now act as support.

chambalabs Updated 

Nifty is holding to it's trend line support. As long as it's holding it, I am bullish on it. MACD is also closing in for a long. So, the target remains 12240 and Stop Loss has been moved to 11390.

chambalabs Updated 

Nifty has as yet maintained it's support level, so I am still bullish on it. It has closed way above it's support of 11400, even it's low was above 11400, well above it's stop loss of 11353. So, I am still Bullish on it, till it breaks it's support trend line. Target remains 12240, Stop Loss 11350

chambalabs Updated 

Clearing all doubts since last 3 weeks, Nifty has given a clear breakout. It's clearly a bullish from now. Target would be 12246. Stop Loss would 11353. Reason for caution is that it has still closed near to last high level of 19th August 11460.

chambalabs

Nifty is in a very narrow spot with long term trend line as support and short term 3 week old trend line as it's support, which today it touched and retraced. So, it now has to break either of the two for the momentum. Wait for it.

chambalabs Updated 

Nifty 50 has spent a month in 11000 range. It's near it's support and resistance. It's in a narrow triangle wedge, preparing itself for a big breakout. The shape of the wedge suggests an upward movement. The 4+ month long rally suggests a correction is due, correction - not crash. So, buy nifty with caution. If you scratch below the surface, a powerful sector...

chambalabs

Nifty has been maintaining it's trend line support today. But, it has opened and closed below it's yesterday's support of 11353. 11353 is now it's resistance. So, Nifty has to break out either of the direction tomorrow, which could be big movement. And the direction is unclear. So, no trade. Since, the breakout has failed and Nifty is trapped in a narrow range,...

chambalabs Updated 

Today is a Clear Breakout! Yesterday close was slightly above Fibonacci retracement level of 11377. Today, @ 15:20 hours, if it closes above yesterday's close - 11386, you can go long. Stop Loss will be at previous close 11386 or slightly below Fibonacci level of 11377, or previous resistance of 11353. Below 11353, sell everything! Exit possibilities when it...