Nifty Technical Analysis

Hello Friends, Nifty opened around same level where it closed yesterday. Bulls took charge and pushed nifty to intraday high of 11967 but unable to continue further. May F&O expiry series closed positive at 11945 As mentioned in  previous analysis , nifty is trading in range of past 3 days which is highlighted in below chart On the daily time frame, 5 Day Moving average continues to provide support for nifty. Options data for 6 June Weekly Expiry series has highest OI at 11800 Put strike with 1,151,925 contracts and 12000 Call strike with 1,272,150 contracts. Hence support at 11800 and resistance at 12000 levels becomes range for the next week for nifty. For coming trading sessions, Nifty may remain range bound to negative. -------------------------------------------------------------------------------- Please follow the blog to get the regular updates of new posts & share with your friends as well. If you have any suggestions please post a ...

Hello Friends, Today, Nifty opened gap down at 11907 around 50 points down from yesterday's close 11958. As mentioned in yesterday's analysis, below 11860 more selling pressure was expected. During first half session, nifty traded sideways and later moved below 11860 & touched low of 11837 however, there was a sharp recovery and closed around 11860 mark. For past 3 days, nifty traded in the range of 11800 to 11960 levels. Tomorrow is Monthly F&O expiry hence we may expect volatile movements Bearish pressure below 11800 levels can be seen. 11700 & 11600 level should act as important support levels. -------------------------------------------------------------------------------- Please follow the blog to get the regular updates of new posts & share with your friends as well. If you have any suggestions please post a reply. -------------------------------------------------------------------------------- Disclaimer: I am not SEBI Registered analys...

Hello Friends, Today, Nifty opened at 11957 which is exactly at same level of yesterday's high. After opening immediately faced selling pressure and during the day it touched low of 11865.20. During last one hour, it managed to recover from low & closed at 11928. Today's movement has formed Hanging Man candle stick pattern on daily chart. As mentioned in yesterday's analysis , Nifty could not crossed 11960 on the upside. Options data  shows more than 3 lakh call writing at 12000 & 11900 strike price. This will act as resistance levels. Maximum Put open interest is at 11700 strike price. This will act as a important support level for the May expiry series. For coming trading session, If Nifty slips below 11860 then more selling pressure can be seen towards it's support levels. It will be good to avoid long position unless we see breakout above 12045 levels -------------------------------------------------------------------------------- Please ...

Hello Friends, Today, Nifty opened positive and continued the up-move. Nifty opened at 11851 and closed at record high of 11924. During the day it has touched low of 11813 & high of 11957. This has formed in a Bullish candle for 2 consecutive days on daily chart. One of the important indicator RSI (14) has also moved above 60 which is also signaling bulls are active. Conclusion: For tomorrow, More upside towards 12000 resistance levels can be expected if nifty moves and sustains above 11960. -------------------------------------------------------------------------------- Please follow the blog to get the regular updates of new posts & share with your friends as well. If you have any suggestions please post a reply. -------------------------------------------------------------------------------- Disclaimer: I am not SEBI Registered analyst. All above analysis are just for study purpose. I am not responsible for any gain or loss arising out of trades taken bas...

Hello Friends, The week was volatile for Indian Markets as important election outcome was scheduled during the week. Weekly Options expiry was also on the same day that is 23rd May, 2019. In response to Exit poll, the week started on very strong note with a gap-up opening (11651) on Monday & remained range bound to prepare for the elections results day. Daily chart was giving bearish signals. on 23rd It touched High of 12041 and shaded all gains due to profit booking to closed around same levels (11657) where the week had started on Monday. Weekly Chart Analysis: There is a bullish Weekly candle on chart but with a long wick on it's top. The closing is life time high for this week. However, RSI one of the important indicator is still showing divergence on weekly scale. This is showing weakness in up-move and more profit booking may take place. Daily Chart Analysis: On the daily chart, Nifty movement has been range bound between 11590 and 11850. Moves above 1...

Hello Friends, Today, on election results day, Nifty opened on very strong note with gap-up of 163 points at 11900. It touched life time high of 12041. As mentioned in earlier analysis there was highest call writing at 12000 levels which acts as important resistance. Profit booking at these levels brought nifty down by 426 point to form intraday low at 11615 & closed at 11657. India VIX fell sharply to 19.04 as well. Today, Nifty has formed a large bear candle indicating selling pressure at higher levels & RSI continues to show divergence. To conclude, As the excitement of election result is over, the focus will now shift towards Global tensions. On the upside 12000 to 12500 level will act as resistance with highest call writing positions On the down side, 11500 & 11000 level will as support with highest put writing positions for May expiry. Break below Monday's (20th May) low of 11590 will trigger more selling pressure. ---------------------------...

Hello Friends, Today, Nifty opened at 11725.20 & closed at 11737.90. During the day, nifty touched high of 11782.90 & touched low of 11683.35. This has formed a doji candle on daily chart. This is clear indication of indecision ahead of important event of elections results. Overall Implied volatility has also increased. Depending on the results and break of high of 11883 may add further buying and nifty may see 12000 to 12500 levels on the upside. Break of the past two days range low of 11590 will add further selling pressure towards 11150 to 11100 levels on the down side. Intraday movements will be highly volatile. For tomorrow, it will be good to wait for the final election result outcome and let the markets stabilize before jumping any trade position. -------------------------------------------------------------------------------- Please follow the blog to get the regular updates of new posts & share with your friends as well. If you have...

Hello Friends, Today nifty opened slight gap up but could not sustain above all time high of 11856 as mentioned in yesterday's analysis . This is possibly due to profit booking, nifty has faced selling pressure near all time high. Today's close is at 11709 which is below mid point of yesterday's bullish candle. This has formed Dark Cloud candlestick pattern which is a trend reversal pattern. As we can notice on daily chart, RSI is shown negative divergence between recent 2 highs. This is one more bearish signal along with Bearish Candle stick pattern. Options data shows increased call writing at 12000 Call options. 12000 continues to act as major resistance & 11500 Put options will continue to act as support level for this expiry series. To conclude, Volatility will continue for the next two days till election results day on 23rd May. Nifty to face further selling pressure if previous day's low 11591 is taken out. --------------------------------...

Hello Friends, In Reaction to the exit polls, Nifty opened gap-up by 244 points hoping that the same government will be back at the center. Today Nifty Closed at 11832 which is very near to life time high of 11856. However, Life time high of 11856 is yet to be taken out. Ichimoku Cloud Indicator suggests, this up-move may continue further. However, this will be highly volatile till we see actual  election outcome on 23rd May. On the upside, 12000 level continues to be act as resistance as there is maximum open interest in 12000 Call option with total 1,062,750 contracts. This up-move may be a good opportunity to book profits and wait for elections outcome. -------------------------------------------------------------------------------- Please follow the blog to get the regular updates of new posts & share with your friends as well. If you have any suggestions please post a reply. -------------------------------------------------------------------------...

Hello Friends, As mentioned in previous Weekly analysis , this is high volatility period for Indian Markets. Overall volatility (India VIX) continued at higher levels. Let's look at this week's Nifty Chart Analysis... Weekly Analysis: Nifty traded sideways between 11300 and 11100 levels for 4 days during the week. On Friday nifty managed to break 11300 on upside and closed just above 11400. During the week, nifty touched low of 11108 and manged to touch high of 11426 levels. Weekly Bullish Candle shows a long wick at the bottom indicating strong support zone around 11100 to 11000 levels. However, FIIs were on the selling side thorough out the week. Daily Chart Analysis: On daily chart, nifty took support of it's 100 DMA around 11100 levels which is also around Fibonacci Level of 61.8% of previous up move. Prices have managed to break 4 day's range but closed just inside Ichimoku Cloud. Options Chain Analysis: Weekly Option expiry and Electi...

Nifty Analysis : 16 May 2019 Hello Friends, Ass mentioned in yesterday's analysis, Nifty opened slight gap-up but immediately moved down and remained sideways. During the day, it made high of 11281 level and faced strong selling pressure. 100 DMA continue to provide support on the down side. This has kept nifty range bound through out the day. For coming trading sessions, till Nifty breaks 11300 on the upside or 11100 on the down side trend may remain sideways so need to have patience and wait for the breakout before initiating any trade position. Next weekly options expiry is on 23rd May. Election results are also on the same day. All options are priced very high for this expiry. High volatility to continue for this week as well making it risky for options buyer. -------------------------------------------------------------------------------- Disclaimer: I am not SEBI Registered analyst. All above analysis are just for study purpose. I am not responsible for ...

Nifty Analysis : 15 May 2019 Hello Friends, Today, on 15th May, Nifty opened slight gap up but unable to continue up-move. In today's session, Nifty traded sideways during the day and faced selling pressure towards end of the session. As mentioned in yesterday's analysis, Nifty did not moved above 11300 and did not broke low of past 2 days around 11100. 100 DMA is providing support for the price as of now. Daily Chart: For coming trading sessions, till Nifty breaks 11300 on the upside or 11100 on the down side trend may remain sideways. Prices trading inside ichimokou cloud is also an indication of no trading zone. Base line and conversion lines are also getting flat which also indicates possibility of range bound movements. To conclude, wait for the breakout before initiating any trade position. -------------------------------------------------------------------------------- Disclaimer: I am not SEBI Registered analyst. All above...

Nifty Analysis : 14 May 2019 Hello Friends, Today, on 14th May, Nifty managed to closed on slightly on positive note at 11222.05 In today's session, Nifty opened flat and traded sideways till 1 PM. After 1 PM there was sharp move towards upside. On daily chart, nifty has clearly taken support 100 DMA and bounced back. Prices did not managed to sustain near high of yesterday (11300.20) & came down sharply. This indicates overall selling pressure still persists as per FII Data. Daily Chart: For coming trading sessions: Its important to watch if prices is able to sustain above 11300 for upside If price breaks 11100 on down side, further sell off may be seen On the downside 11000 may act as a support May Expiry Option open interest data also shows 11000 strong support with highest OI of 2,628,450 contracts -------------------------------------------------------------------------------- Disclaimer: I am not SEBI Registered analyst. All ab...

Nifty Analysis : 13 May 2019 Hello Friends, As mentioned in my previous post, Nifty was already facing strong selling pressure. Today, on 13th May, Nifty traded sideways and faced selling pressure in last 30 Minutes & closed at 11148.20. During the day Nifty had touched low of 11127 which is exactly at 100 DMA. For Tomorrow, We may see more selling pressure due to Global news (China announced retaliatory tariffs on U.S. goods) While writing this post, Dow Index is trading down by 2.68% (nearly - 700 Points) This will surely trigger further sell off in global markets. SGX Nifty  futures extended losses and is trading at 11,088.75. We may have gap-down opening and could see further selling pressure on Nifty If we apply Ichimokou Cloud Indicator we can see prices have just managed to closed within the cloud. Prices trading below the cloud indicates more selling pressure can be seen and more down side can be expected. ------------------------------...

Nifty Analysis Week ended 10 May 2019 Hello Friends, This is my first and newly started blog especially for Nifty 50 Index analysis. I will be posting Technical analysis of Nifty 50 Index. Weekly Chart Analysis: This is high volatility period for Indian Markets as we have important political events, yes.. Election outcome. We can clearly see, that nifty is not able to sustain above resistance levels & during last week there was a sharp fall. There was huge selling pressure throughout the week. In the below chart, I have 50 period moving average which had given good support / resistance in the past. Daily Chart Analysis: On the daily chart, RSI had given early indication of weakness in the up move by showing negative divergence. Overall fall has retraced between 38.2% and 50% Fibonacci levels. Prices have already fallen 5 % from high of 11856 to 11251 For next trading sessions, its interesting to see if Nifty takes support around demand zone (marked wi...