NIFTY OUTLOOK - Market Updates for Today 21 Dec. 2012

The Nifty started to correct some time midday and I got the feeling that we might see a deeper correction, but as usual buying came in at lower levels and drove up the Nifty again. I get the feeling we need a trigger event to break past this 5,950-6,000 zone and until that does not happen we will trade sideways or correct to 5,800 levels.  Trend deciding level is 5,920. If Nifty shows strength above 5,920 levels, then rally to 5,950/6,000/6,050 may be seen. If Nifty does not show strength above 5,920 levels then selling pressure...

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Nifty Intraday Updates for Today 20 Dec. 2012

The Nifty traded in a narrow range after opening gap up, the good thing was it held the gap. The view is still positive and once we break 5,950 - 5,960 we could see 6,100 then.  Nifty Future ended at 5,946.90 with a small spinning top candle. Movement suggests resistance on higher band of the market around 5,990-6,000, so cautious stance needs to be taken.  The Sensex has supports at 19,410 and 19,300 and resistances at 19,520 and 19,620. The Nifty spot has supports at 5,905 and 5,875 and resistances at 5,940 and 5,965...

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NIFTY OUTLOOK - Market Updates Today 19 Dec. 2012

The Nifty is broadly range bound between 5,840 and 5,930, it keeps consolidating between this range and we see stock specific action in the midcap or certain sector specific stocks. The Nifty is correcting slowly and buying is coming in at lower levels, hence until we are above 5,840 traders should have a positive bias. Nifty Future closed on positive note after last few days of consolidation at 5,860 level. It finished off at 5,928.90 at highest point of the day with a long legged hammer kind of candle. The Sensex has supports at 19,270...

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NIFTY Updates for Today 18 Dec. 2012

The Nifty is broadly range bound between 5,840 and 5,930, it keeps consolidating between this range and we see stock specific action in the midcap or certain sector specific stocks. The Nifty is correcting slowly and buying is coming in at lower levels, hence until we are above 5,840 traders should have a positive bias, as I said on all declines the market is being bought into and on the weekly time frame the markets are looking very bullish.    Nifty Future remained in a narrow trading band of 20-30 points and finally closed at...

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NIFTY OUTLOOK - Market Updates Today 17 Dec. 2012

Technically, Nifty future has moved back above 5,900 mark keeping traders clueless for the next session. Nifty Future entered back into 5,900 - 5,950 trading zone and a breakout only will set the near term trend. Above 5,950 level, Nifty future will test 6,000 mark whereas below 5,900 level it can slip back to 5,830 - 5,800 levels respectively. For today's trade, Nifty is likely to trade in the range between 5,900 - 5,920 in the upper side and 5,860 -5,840 in the lower side. We expect 5,950/5,980 to act as intermediated resistance and 5,870/5,820...

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NIFTY Updates for Today 14 Dec. 2012

The Nifty was having another day of consolidation until sometime close to the session end we traded 30 points lower in one swift move. So far we have managed to close above 5,840 levels; Nifty Future ended on a bearish note at 5,876.45 with a big bearish Marubozu candle. For today's trade, Nifty is likely to trade in the range between 5,870 - 5,895 in the upper side and 5,830 - 5,810 in the lower side. The Sensex has supports at 19,090 and 18,970 and resistances at 19,310and 19,420. The Nifty spot has supports at 5,835 and 5,800 and resistances...

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NIFTY Updates for Today 13 Dec. 2012

The Nifty had another day of consolidation and we still are trading above 5,840 level until which we should have a positive bias, and hence I suggest holding long position to those who have created longs at lower levels as we are on course towards 6,000 and more. For today's trade, Nifty is likely to trade in the range between 5,920 - 5,945 in the upper side and 5,870 - 5,850 in the lower side. The Sensex has supports at 19,280 and 19,190 and resistances at 19,480 and 19,610. The Nifty spot has supports at 5,865 and 5,830 and resistances...

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NIFTY Updates for Today 12 Dec. 2012

The Nifty opened and traded to the highest point of the day in the first hour of trading. We still trade above 5,840 level until which we should have a positive bias, and hence I suggest holding long position to those who have created longs at lower levels as we are on course towards 6,000 and more. Nifty Future ended on a bearish note after 2-3 days consecutive indecisive closing, it closed at 5,928.40 with a big spinning top candle. We raised concern in our last report and the same thing happened. For today's trade, Nifty is likely to trade...

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Nifty Alert - Intraday Nifty Updates Today 10 Dec. 2012

The Nifty index moved up last week and moved to 5,944.90 points from a low of 5,629.75 in the previous week. It marked a high of 5,984.65 which is an all time high of the current year. Nifty is likely to face resistance at higher level. It is now taking resistance at 6,000 and 6,070. Once it manage to trade and sustain above the level of 6,000 a further upward movement would be seen and it may test the level of 6,140. On the downside, 5,860 would act as a strong support level for the markets. A breach of this level would increase pessimism and...

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Intraday NIFTY Updates for Today 06 Dec. 2012

The Nifty continued its sideways price action, another day of consolidation. And as I have been suggesting all declines would be bought into hence they would be shallow declines. We are on course towards 5,950 and higher towards 6,150.  Nifty Future closed at 5,940.45 with a doji candle. Candle pattern implies indecision, however trend suggests it is in a strong up-trend. It closed just around 5,940 level and we believe a sustainable movement above this level would trigger fresh longs that would take it towards 6,005 and 6,180 as discussed....

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Intraday NIFTY Updates Today 05 Dec. 2012

The Nifty continued its sideways price action, another day of consolidation. And as I have been suggesting all declines would be bought into hence they would be shallow declines. We are still on course towards 5,920 and higher towards 6,150.  The Sensex has supports at 19,260 and 19,150 and resistances at 19,440 and 19,550. The Nifty spot has supports at 5,859 and 5,825 and resistances at 5,910 and 5,950...

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NIFTY Intraday Updates for Today 04 Dec. 2012

As suspected the Nifty had a sideways day, a day of consolidation. And as I have suggested all declines would be bought into hence they would be shallow declines. We are still on course towards 5,920 and higher towards 6,150. Trend deciding level is 5,880. If Nifty shows strength above 5,880 levels, then rally to 5,920/5,950/6,000 may be seen. If Nifty does not show strength above 5,880 levels then selling pressure till 5,840/5,800/5,750 may be seen. The Sensex has supports at 19,250 and 19,180 and resistances at 19,410 and 19,500. The Nifty...

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