ipuneet

ipuneet

Nifty spent major part of the day, struggling within the values made by 50,100 and 200 DEMAs. After an exceptionally volatile day, Nifty did manage to close above all the three DEMAs, indicators too have turned slightly positive on the daily charts. Banks Nifty looked weak after an initial rally, and closed with nominal gains. With approx. 40% of its weightage...

ipuneet

1. 11214, 11267 and 11219 are the 50,100 and 200 DMA values. 2. Nifty daily candles have been intersecting or closing below these values for past four sessions. 3. RSI is just a tad above 50, but well below its nine days EMA, which is indeed a powerful signal. 4. Most other indicators too are on the verge of giving buy or sell signals. 5. Bank Nifty is...

ipuneet Updated 

The chart included in this post or idea, is a Nifty 2 hours chart, and a 21 period RSI with 9 periods EMA. As you can see this chart has indicated weakness on Sep. 26th, at about 11:15 A.M., when Nifty was at 11560 . Ever since, it the EMA line has gone above RSI, it has never been able to surpass it, as you know this confirms the continuation of weakness...

ipuneet Updated 

Nifty has been trading weak for a few days, a fall below 11160 will open doors for further downside. But since the market has fallen so much, global markets have been showing strength after a fall - a recovery can be expected too. RSI 2 hours chart has been following a trendline, as long as it remains below this line, trades on short sice can be taken. For...

ipuneet Updated 

Nifty formed a indecisive DOJI. Nifty has corrected about 450 points from the recent high it made on 23rd Sep. Dow is taking support after a two days massive fall. I would recommend trading on long side after some confirmation, Nifty trading above today's top can be a enough of sign of strength, one can consider taking long positions expecting a pull back....

ipuneet

Bank Nifty continued weakness, clarifications by heads of certain banks / financial institutions could not assert overall fall. It has corrected almost 2400 points from the peak it made on 23rd Sep. Though there is no indication of a pause or reversal on charts, I would like to take a break. I'll just observe Friday's market move and on the basis of tomorrow's...

ipuneet Updated 

Gold posted a handsome recovery, not only broke a price channel on the upside but also breached another important range 1483-1511, where it has spend several weeks in recent past. It did spend some time above 1483, and corrected a little towards the closing. 1483 is a strong resistance, if and once it is breached too, it will start acting as a resistance. ...

ipuneet

As the charts have indicated on the basis of yesterday's closing (31-09-2019), the bank nifty closed in deep red today. It continues to remain weak for upcoming sessions too. Trend-lines, RSI, CCI and other indicators have been pointing towards more correction only. Sell on rallies should be the strategy, 29230 can be stop for all short positions. Avoid...

ipuneet

Bank Nifty has closed 773 points below yesterday's closing. It has corrected by approx. 1700 points down from its recent high. With today's fall, it has filled the opening gap, that was created on Sep. 23rd. With today's closing, It has turned negative on RSI and CCI indicators on daily charts. Adopt a sell on rallies approach until with a stop loss of...

ipuneet

The closing was confusing, to begin with Nifty made a Hanging man candlestick pattern. As per this pattern, it has to trade above today's high i.e. 10509 to turn positive, the stop should be the low of the pattern or day i.e. below 10389. Nifty almost filled the Gap that it created on Sep. 23rd. this should be positive as the the baggage of the Gap is over....

ipuneet Updated 

ITC is taking support on a trending with a triangle. Long Positions can be considered either around 253-4 or once it crosses the upper trend-line i.e. above 255, Target over 260. 251 (on day closing basis) should be the stop for long positions. Logic is reversal from the lower trend line, support on CCI and trend-line support on RSI too. Please...

ipuneet

Nifty has made a smart recovery from sub 11400 levels. 15 Min RSI EMA divergence, CCI are indeed indicating positive moves in short term. One can go long around 11425 (index) with a stop loss of 11410. Please consider liking this chart if you find it informative or worthy. You may follow me for periodic updates on Nifty, Bank Nifty, Silver or Gold.

ipuneet

Hindustan Unilever posted a huge gain on the back of Corp Tax rate cuts, profit booking has set in after an gain of 8-9%. It is on the verge of breaking a triangle pattern on the downside, It is way ahead of 20 DMA, RSI and CCI are indicating price corrections on shorter duration charts. Short positions can be considered on break of 2010, with a immediate...

ipuneet Updated 

Gold has given been in bear's grip since Wednesday (25-09-19), it formed a Doji on daily chart yesterday (26-09-19) and resumed the fall today. It has come out of a medium term channel on 25th, 1483-89 is the range it managed to form a bottom from when it corrected a few days back. It may break this support this time, 1440-1460 is the next target on the down...

ipuneet Updated 

Silver has been correctly sharply for past 3 days, at the moment (17.46) it is at a make or break level. If it slides further, it may touch 16.8 followed by 16.2 levels. Technical indicators are showing weakness at this stage (27-09-19). Traders taking short positions must exercise caution and keep monitoring charts for trend reversal. 18.04 on the upside...

ipuneet

Nifty has an immediate support zone at 11500 -11490, followed by 11469 and 11423 levels. Please remember to protect your leveraged long positions with a stop loss at 11423. Bulls can feel comfortable only if 11548 and 11570 are breached on the upside, the zone between 11490 - 11570 is a no trade zone, keep patience. Other short-term indicators are not...

ipuneet

Bank Nifty closed at lower band of a channel on 30 mins charts. (27-09-19). It is indeed at a make or break level, traders can hold longs or create fresh longs (29950 and above) if it is seen moving up from these levels keeping a stop loss at 29710 or 29626 depending on your risk profile. Do not take any short positions as long as 28480 is protected. Other...

ipuneet

Nifty choose to consolidate after a massive two days rally and closed a little down, it gave a DOJI on daily chart that indicates indecisiveness and possibility of a pull down. Trading below 11539 i.e. the low of the DOJI will open the doors on the downside. The immediate targets on the downside could be 11458 followed by 11312. The stop loss would be top of...