ipuneet

ipuneet

Nifty, though quite positive on major indicators, has posted two consecutive GAP UP openings. This is very rare for nifty, annd causes a bag breakup or breakdown. As other indicators have been suggesting more of upside, I would advise keeping an eye on your trusted one them and follow the signals. Price action wise, 12024 should hold, for the comfort of...

ipuneet

As anticipated, much needed correction is taking place. The target on the downside are 30980 and 30460. Reclaiming 31860 will negate this. I would like to share a zero or minimum risk strategy here, which i have suggested to some pals on 29th Nov., the day when the bank nifty has shown the first signs of weakness. It was involving one short Ban Nifty ...

ipuneet

Much awaited correction has initiated in Nifty. All technical and trend indicators are pointing towards more downside. 10800-10780 could be seen in next few days. This post is to share a low risk strategy to benefit from this correction, if you are convinced that 10800 - 10780 are the levels we could see a reversal from, following low risk strategy may be...

ipuneet

RSI divergences on different period charts was confirming this for some time. Much anticipated correction has initiated, now the question arises how far it can go. 10833 and 10780 are important levels, I don't think it can go below these levels in this bull run. Reading option chain data, does help in understanding immediate resistance and support levels of...

ipuneet

Those of you who follow my posts, may remember I have mentioned about this supportline, that has supported Nifty several time in the recent past. Nifty again touched this line today and reversed a little. I doubt whether this line will be able to support Nifty tomorrow / going forward, but respecting this trend line no shorts until this is taken decisively . ...

ipuneet

Besides weakness on charts, there is a news about telecom tariff hike. The news looks positive for telecom companies on the onset, but more than often, stocks rise in anticipation and fall when the news is out. Trade with CAUTION, following the stoploss. Low risk traders may trade using options i.e. shorting OTM calls or creating diagonal spreads strategy. ...

ipuneet

Almost every analyst has been talking about RSI divergence on monthly charts. Besides divergences, RSI is making lower tops n bottoms, while nifty is doing just the opposite. A trend line break of RSI will indicate upmove in Index, while the opposite will indicate other-wise. This chart may provide an important clue, that is significant for this point of time....

ipuneet

Nifty corrected a little from the high levels. Index levels are mentioned in chart itself, RSI is showing negative divergence, one support line is broken decisively another long term support line is very close. Another reliable indicator CCI is indicating weakness (below 100) too. We know this rally is not supported by fundamentals, economic indicators don't...

ipuneet Updated 

Gold has been consolidating in a bearish band for some time. It is forming bearish candlesticks for past few days. 9-34 EMA on Price and RSI is a strong system, it is giving a "Sell" weak even on that. At the moment it is close to a strong support 1454, once it is broken 1435 is the lower band on the channel, if that is taken too 1420 - 1400 can be expected....

ipuneet Updated 

Nifty changed -0.75 point during the week and made third consecutive Doji, this completes a Tri Star Doji Pattern. Tri Star is a rare (more so on weekly charts) and significant pattern, indicates extreme indecisiveness. The pattern is generally followed by a trend reversal and sometimes strong trend continuation . Nifty has actually moved some 14 points...

ipuneet Updated 

Bank Nifty looking stronger on many parameters but is showing a divergence with RSI. Cautious approach is necessary as long as this signal is there. 31240 should act as strong support, if broken Bears may control the show. I would trade in options period spreads only and wait for clarity. Some reliable indicators are showing weakening of momentum, without...

ipuneet

Nifty formed a bearish engulfing candle after Wednesday's Doji. RSI is showing divergence on weekly, daily and even hourly charts. Two hour chart - EMA on RSI is giving sell signal, too. RSI is below 50 on one hour chart. 11840-12040 is a difficult range to deal with, any decisive move can be expected only once Nifty is out of this range. Sell below 11960...

ipuneet

Protect your longs below 11964. The rally does not seem to have desired depth, international markets are not good. There is an RSI divergence on daily charts. Ride the rally with trailing stop loss.

ipuneet

Thanks you for expressing your interest in Trading system that I’ve backtested on Bank Nifty and shared the results over tradingview.com. A friend has told me about this system and I backtested this manually out of sheer curiosity. Follow is how this system can be applied and used. *Step - 1* Rule : Mark high and low points of first 15 minute movement / candle...

ipuneet

The Weekly candle stick patterns and RSI are indicating a pull back or intermediary top formation. I have been saying it for past few days, certain short period indicators are showing weakness. CAUTION is important guys, keep your long positions light and an eye on trend reversal signals. Friday's last hour fall was significant and must have been caused by...

ipuneet

Technically Nifty formed a Doji candle with long upper shadow on daily scale which indicates absence of follow up buying interest at higher zones. It also formed the Doji candle for second consecutive week, indicating continuing indecisiveness among the market participants. It has to sustain above 11850 to resume uptrend, incase 11800 is broken 11760 - 11700 are...

ipuneet

Nifty posted a handsome recovery from the lows of 11800, and closed 73 points above, this recovery came after a 220 points fall, on an options settlement day and with a negative advance decline ratio. RSI and some other indicators / oscillators are still strong on daily charts but comparatively weak on shorter period charts. This generally means "weakness...

ipuneet

Bank Nifty touched a low of 30338 and recovered to 30788, a handsome 450 points recovery, that came after a fall of 867 points. Over 50% recovery after a massive pull back looks convincing, more so when the news flow w.r.t. GDP estimates, WPI / CPI Inflation, IIP etc. are not very encouraging. The RSI on 30 minute chart went below 50 yesterday, it even touched...