ipuneet

ipuneet

14410, 14350, 14255 are supports, and 14575, 14611 resistance levels. Nifty made a highrt high and low today, and much higher closing.

ipuneet

Besides downward channel, ADX and RSI both indicating weakness. Stay short till there is no visibile signs of reversal. Unlike on daily charts, hourly charts are indicating clear weakness. Important levels are mentioned on my posts covering daily charts.

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There was a much awaited dip, Index took a support near 8 DEMA and closed above. ADX has flatned a bit, DI+ and DI- are indicating weakness. RSI too has declined a bit, it is below 9EMA now. 31840, 31560 are supports, and 32350, 32450 and 32680 are resistance levels.

ipuneet

ADX still rising with declining DI+ and rising DI-, visible weakness. RSI declined, is below 9 EMA now, this also indicates weakness. 14410, 14350, 14255 are the supports now. today's engulfing candle, gave a low and closing at week's lowest level. 14480 and 14580 are resistance levels.

ipuneet

ADX rising, DI+ weakened shows some weakness, DI- indicating upternd. RSI rising and above 80, highest since Nov. 18 14640-14710 can be resistance points for the day, 14510-14450 should act as supports. Long trades using bull spreads of duly hedged strategies can be taken, as long as 14270 holds.

ipuneet

It is a GraveStone daji after the HangingMan Candle, Overbought markets and back to back doji candles call for caution for sure. 32440, 32330, 32150 are important supports. 32720, 32880 and 33100 are resistance levels. It is again, higher high, low, but lower close, today.

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Caution is important. Trade using stratgies keeing 14500-14700 range in mind.

ipuneet

Another higher close, high and low. Market are indeed over streched but momentum is strong.

ipuneet

Nifty 14560-600 can be expected. 14392 stoploss.

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Strong comeback.

ipuneet Updated 

31500-32300 is the range that need to be watched carefully, a breakout in either direction will give clear trend.

ipuneet

Gold has reversed from an important trendline. long on dips with 1826 Stop loss.

ipuneet

HDFC Bank has been underperforming BankNifty and even Nifty for some time, it has a big weightage on both the indices. Moving in a small range of 40 Rs (1412-1442) for the past few days. Wait for break-out above 1445 to enter on the long side, use 1426 or 1412 as stops depending on your risk appetite. Consider a low-risk bull spread utilising 1420-1480 strikes....

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Major moving averages and Ichimoku sens are placed too close within 1945-1975 range. Expect a big price move soon, the move should probably be on the upside. 1906 can be used as the stop-loss for long positions.

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It will remain sideways between 31500-32150, crossover will result in a sharp move in either direction.

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All in all, "sideways with a positive bias", confirmations required for a strong uptrend.

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Though US markets are strong, our markets are showing sign of loss of momentum. Daily candles of past two days have not been positive, Nifty has made two consecutive closing lows on past two days. UTILISE every rise to close longs or book profit and wait for clarity for taking further positions. Trade with CAUTION.

ipuneet

Reliance Keep a stop loss of 1930, targets 2040-2080-2100+. 2000-2100 bull spread offers good rsk reward.