Nifty Spot Intraday 30-4-2018

Nifty Spot is nearing completion of its first leg of the new up-move (Likely) or it could also be New up-move itself.  What it is we shall come to know soon.  A diamond diametric from 4-4-2018 is in its last g-leg now and should finish within 10850.  Risk reward doesn't favour a long trade from here and we would be better off to see the correction and reenter the trade.

Intraday 30-4-2018

Nifty Future (Bias - Positive


Weak Below / Strong Above 10742. 



Banknifty Future  (Bias - Negative


Weak Below / Strong Above 25508.  

Nifty Spot EOD 27th April, 2018

Nifty has now entered a tough resistance Zone and 10790-10850 is a huge resistance Zone. 10650 plus resistance keeps increasing. So the movement will be highly volatile in this  Zone till the supply is absorbed entirely.  FII's have been selling is cash continuously so caution is needed in this zone for the Index. Above 10850 only Nifty becomes stronger. Downside 10500 is strong support.

For the week 10770 is huge resistance for Nifty Spot.

Nifty Spot Update

Close and sustaining above 10706 61.8% retracement level will give next target of 10880-10930. Faster retracement of entire fall will be treated as fresh up-move else the present one is a corrective rise.

Intraday 27-4-2018

Nifty Future (Bias - Positive)


Weak Below / Strong Above 10672.  


Banknifty Future  (Bias - Negative


Weak Below / Strong Above 25147.  

Update On Nifty Spot Eod 26-4-2018

We are beginning a new series!  Nifty Spot looks poised to hold 10500-10550 zone comfortably and move up further.  The only issue has been the trading has been difficult. The 40/43 day fall if retraced in faster time this one is a new up-move else this up-move is a corrective one and 10880 is almost given in any case down the line unless some major negative event comes up!

Update on Nifty Spot

Nifty Close or sustaining above 10613 will be good for tomorrow as it has come out of a falling channel. 10650 plus close and sustenance is the main challenge.

Update on Nifty Spot

10614 plus nifty spot stronger.

Intraday 26-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10553.  


Banknifty Future  (Bias - Negative)


Weak Below / Strong Above 24755.  

Nifty Spot EOD 25-4-2018

40/43 days fall is now being retracted and we have completed 15 days from our chart completion bottom.  We can assume Nifty has completed the a-leg of this up-move near 10638 and formed a double top resistance.  Now history shows us 3 weeks of consolidation near 10600-10650 zone before the fall down to 9950(Approx) so we can expect 2/3 weeks of time spending near the zone.  The Monthly higher low is also pending for Nifty for the Month of June. 10400-10450 huge support and 10600-10650 is huge resistance and some time spending is needed in the zone. the unconfirmed b-leg correction can take 13 days or more like first a-leg up

Update on Nifty and Banknifty Spot

Nifty Spot is clearly struggling as before at 10600-10650 range.   Banknifty is unable to get above 25000-25350.  Under the circumstances, a Struggling Nifty / Banknifty may show weakness and retrace somewhat during the month of May 2018 and we may see some movement later.  Nothing very clear till now Let us wait and watch.Break of 10500 level should be good for some pullback and breakdown below 24700 will bring further weakness in Banknifty.

Intraday 25-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10553.  


Banknifty Future  (Bias - Negative)


Weak Below / Strong Above 24807.  

Update on Nifty Spot

Nifty Spot is now at the super resistance zone.  It is hitting the Zone and falling! Down-Up-Down kind of trades happening. 14th May is a Gann Turn date(Next one is 30th June 2018 if we don't get an interim top there).  Nifty may keep moving like this till then.  If Bias changes then some correction consolidation.

Intraday 24-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10589.  



Banknifty Future  (Bias - Negative)


Weak Below / Strong Above 24901.  

Update on Nifty Spot

Close above 10595 and sustaining above 10632 will help Nifty to achieve more.

Intraday 23-4-2018

Nifty Future (Bias - Positive)


Weak Below / Strong Above 10549.  


Banknifty Future  (Bias - Negative)


Weak Below / Strong Above 24901. 

Intraday 20-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10568. 


Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 25123.  

Nifty Spot Update

10562 plus EOD closing for Nifty Spot will be good,  sustaining above will ensure short-term rally.

Intraday 19-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10589. 


Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 25258.  

Update on Nifty and Banknifty Spot

Nifty Spot is in an up-move for now and got corrected from the previous strong resistance Zone of 10600. Holding about 10500 is ok for Nifty (Spot / Future) and staying above 10600 will bring momentum.

Banknifty Spot is in an up-move for now and got corrected from the previous strong resistance Zone of 25350. Holding about 25000 is ok for Banknifty (Spot / Future) and staying above 25350 will bring momentum.

Intraday 18-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10589.  


Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 25441. 

Intraday 17-4-2018

Nifty Future (Bias - Positive


Weak Below / Strong Above 10548


Banknifty Future  (Bias - Positive


Weak Below / Strong Above 25316. 

Intraday 16-4-2018

Nifty Future (Bias - Positive)


Weak Below / Strong Above 10439.


Banknifty Future  (Bias - Positive


Weak Below / Strong Above 25123. 

EOD update 13-4-2018

If 10364-10435 Zone Holds,  Nifty Future is good for coming days. For Monday Nifty Future is buy sustaining above 10435. 

If 24870-25089 Zone Holds,  Banknifty Future is good for coming days.  For Monday Banknifty Future is buy sustaining above 25068.


 Between 10th May 2018 - 17th May 2018. So, some kind of interim top is expected.

Gold Future Monthly Chart EOD 12-4-2018

35738  Initial Mid-term Target for Gold Future 
32300-32600 First Strong Resistance
SAR 30329  (Sustaining Below)
At Multi-year Breakout point

Intraday 13-4-2018

Nifty Future (Bias - Positive)


Weak Below / Strong Above 10497. 


Banknifty Future  (Bias - Positive


Weak Below / Strong Above 25235.  

Data Update!

Immediate Target and resistance for

Nifty Spot                  10440 / 10516-10529 ->  10343 must hold
Nifty Future              10465 / 10546-10559 ->  10364 must hold

Banknifty Spot         25191 / 25440-25479 ->  24879 must hold
Banknifty Future     25217 / 25468-25506  ->  24903 must hold

Other Targets later

Nifty Spot update EOD 11-4-2018

Nifty very overbought in Hourly and Daily and hence may remain in 150-200 point trading range for sometime before breaking out again.   The x-wave top of 10478.60 needs to be crossed once at least before 8 days maximum and moving above will bring in further highs.

Intraday 12-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10439.  


Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 25155.  

Update on Nifty and Banknifty Spot

EOD close and sustainence below 10381 will be interim weakness for Nifty Spot.
EOD close and sustainence below @25120 will be interim weakness for Banknifty Spot.
Yes overbought situation needed some management.

Gann Gyan

10350-10426 zone needs a bit more consolidation for 10600 plus for Nifty

25100-25350 zone needs a bit more consolidation for 25700 plus for Banknifty.

Intraday 11-4-2018

Nifty Future (Bias - Positive)


Weak Below / Strong Above 10439. 


Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 25290.  

Update on Nifty Spot

10442 is the Critical resistance for Nifty Spot for the Month and Nifty is quite overbought. So sidewise to high volatility expected for next 2-4 days till the OB is somewhat neutralized.  Now the index is "buy on dips" clearly. 10479 plus sustenance is key from here.

Nifty Spot Alternate situation as on Midday 10-4-2018

The Second corrective after X-wave from 10478.60 had probably formed an extracting triangle and the correction got completed at 10111.30 on the 4th of April, 2018.  Final confirmation needed when Nifty crosses the X-wave commencement point at 10478.60 and sustains.  At present handling the OB situation with time correction without much price damage.

Update on Nifty

The way the technicals are improving it needs one more confirmation to sustain above 10479 to indicate the correction was indeed completed on the 4th of April and now we are in the a-leg of the first bull run again!  Other than overbought (in Hourly and Daily) no major issues till now!

Intraday 10-4-2018

Nifty Future (Bias - Positive)



Weak Below / Strong Above 10426. 


Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 25166.  

Update

Indexes are bullish at the moment though overbought and technicals are also bullish.  No shorting else high risk.

Intraday 9-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10308.  



Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 24825.  

Gann Gyan

Nifty Spot Gann Support(s)
10299
10244 (Strong Support) - EOD Close Below  Weakness


Banknifty Spot Gann Support(s)
24794
24715
24648 (Strong Support) - EOD Close Below  Weakness
24558

EOD Analysis Nifty Spot as on 6-4-2018

 In the chart, the first correction was a truncated ZZ and after an x-wave 2nd corrective is now ongoing. The second leg of correction is happening as a Flat or triangle or it may even be diametric. The a-leg of the second corrective was 8 days and yesterday we probably have ended the b-leg of correction in 8 days (Confirmation needed!).  In 1-2 weeks time, the final bottom should be made for this round of correction.  During this round of correction if 10182 for Nifty Spot and 24356 is held for Banknifty Spot then b-leg of second corrective will continue to move up again.

Update on the Indexes

As of now no big weakness on technicals. Nifty Spot Targetting 10421 and Banknifty Spot 24940 / 25010. Nifty Spot must hold 10253 and Banknifty Spot 24545.

10332 plus EOD close 24825 plus EOD close keep the uptrend intact. Dow futures showing red flag though so caution needed.

Intraday 6-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10349. 


Banknifty Future  (Bias - Positive)


Weak Below / Strong Above 24807. 

EOD 5-4-2018

Nifty Spot Likely to give Strong Resistance in the zone 10330-10372. This Zone resistance has a stop loss of 10408 for sellers. Tomorrow Nifty Spot is good if closes above 10228 and preferably above 10292. Banknifty Spot Likely to give Strong Resistance in the zone 24790-24915. Tomorrow Banknifty Spot is good if closes above 24589 and preferably above 24665. Overbought situation and can't rule out some profit booking at weekend.

EOD 4-4-2018

10090 minus EOD Close in Nifty Spot will be a weakness (10090 - 10100 Strong Gann Support) . Around 10126 is 200 EMA holding it will also be a good sign.
24050 minus EOD close in Banknifty Spot will be a weakness (23950-24100 Very Strong Gann Support). Derivative Data is not confirming a trending move and rather supporting a sidewise move. Charts will have to fit it. The Market knows the best.

Crucial Supports for the Indexes

10115 and 24135 are crucial support for Nifty and Banknifty Spot.  

Intraday 4-4-2018

Nifty Future (Bias - Positive) 


Weak Below / Strong Above 10292.  


Banknifty Future  (Bias - Negative)



Weak Below / Strong Above 24654. 

Harmonics

Nifty Spot Bullish 3-Drives Target 
10277 - Not Done
10622 - Not Done
Rest later

10310 Plus a bearish ABCD pattern gets neutralized.

Banknifty Spot Bullish 3-Drives Target 

24474 - Done
25010 - Not Done
25392 - Not Done
25878 - Not Done

24561 Plus a bearish ABCD pattern gets neutralized.

Banknifty Spot Update as on EOD 3-4-2018

Banknifty is now at 61.8% crucial retracement level at 24474, 24500-24650 is a key initial resistance (of Initial Target is about 24900 and 25200) . Key trend reversal level above 24860- 200 dma which is  rising. Hourly is bit overbought.Lower side 24300 around is the key support.Infact,  Banknifty Spot has just closed above 24505 200 EMA Level and holding above this good buying will come.

Nifty Spot Update as on EOD 3-4-2018

Nifty Spot is now at 61.8% crucial retracement level at 10278, 10250-10260 is a key initial resistance (of Initial Target is about 10350 and 10420) and falling trendline resistance is also near to 10270-10280. Key trend reversal level below 10170 level or 200 DMA which is at 10186 today and rising. Hourly is bit overbought. 10300-10350 strong resistance Zone.

Update of Nifty and Banknifty Futures

Intraday NF long above 10258
Intraday BNF long above 24493

Intraday 2-4-2018

Nifty Future (Bias - Negative) 


Weak Below / Strong Above 10225.  


Banknifty Future  (Bias - Negative)


Weak Below / Strong Above 24461.