Category: Charts

Nifty spot : 8745.45

On last week,  Nifty was fell 1210 points and Sexsex was declined 4188 points

On Monday to Thursday Nifty was seen huge selling pressure and fell 1700 points

Friday index has climbed 485 points and closed in the green mark (+5.80%).

Now, In India virus cases increased 300 so far, Really bad news

I am very scared…….No one has any awareness of virus spread

India is the most populous country. What if the virus is spreading too much then how to control ?

On last week Bloomberg warned to India “Next virus hot spot in India”

Today (22nd March) India followed People curfew…. Suppose if cases increase by next week like April first week……. India will take strict action to follow curfew for 1-2 weeks

Worldwide cases crossed 3 lakh and worst condition in Italy deaths overtook to China’s death report

FITCH and CRISIL has scaled down the expected India’s GDP growth for FY 21 to 5.1%

VIX index closed the week @ 67 up 30%. On Friday VIX fell from 73.34 to 67.10

On Friday after market hours SEBI revised Market Wide Position Limit to 50% from 90% (Maybe 70% of f&O stocks trading only for squared up)

Friday US markets fell 900 points and one month loss was 34%

FIIs sold 3345 Cr worth of stocks in cash segment whereas DIIs bought 2431 Cr

This Week Nifty (spot) Trend Decider 9130 and 7830

The price volatility was huge during the week, Nifty was made a low of 7832 and a high of 9602. That is the kind of 1800 points range.

FII’s index long and short ratio from 0.2x to 0.5x. FII’ once if start to cover their short positions expecting some recovery.

However, on the daily chart Nifty is facing a selling pressure on every rise!!

Nifty is facing a weekly resistance 8885, 9130 and 9500

If comes above level……… Hot sell and don’t think to buy at higher levels!!

On the other hand, Nifty considering supports 8170 and 7830

Suppose once if breaks and closes below 7830 (Must for weekly close)

Next strong support zone around 6800-7000

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Updated : 09.51 AM / 22nd March 2020

Nifty (spot) last close : 9955.20

What a terrible week!! Nifty weekly loss 1034 points (8.70%). But swing was 2750 points… Oops!!

On Monday Nifty loss 538 pts, Wednesday closes flat, Thursday Nifty fell 868 pts, and Friday Nifty gained 375 points. Net 1034 points declined.

Global market also fell heavily, Likes Dow in last week  Monday -2013 pts, Tuesday +1167 pts, Wednesday -1465 pts,  Thursday -2353 pts and Friday gained 1985 points

Everyday US markets was moved four digits

On global, Virus cases increased in worldwide likes US, Europe, India, and Gulf zone

China says controlled cases and many temporary hospitals has closed

In India, IPL match postponed, Ind-SA ODI matches cancelled, Many states closed schools, colleges and cinema theaters.

India has reported Virus case death 1 and patients 85 ( on 10 PM/ 14th March)

Weekly loss of sectoral indices were Nifty metal -12%, Media 16%, Auto -11%, and IT -14%

UBS has cut India’s GDP growth forecast to 5.1%

As per technical chart, Nifty (spot) facing a weekly trends 10550 and 8550

If all is well, If comes any positive news Nifty will be moved 10150, 10380 and 10550

Expecting maximum rally up to 10550………Suppose if crossover 10550

Will move further rally up to 10900. Chances are highly remote.

Positional traders, Intraday players can watch above levels. Once if comes don’t wait SELL SELL

Nifty spot considering supports 9510, 9125, 8850 and 8550

Last and final support at 8550. If breaks and closes below the level

Ultimate Target 7900 and 7500 (Mind voice : It’s too much level) What can I do ? ?

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Updated : 10.08 PM / 14th March 2020

Nifty Spot last close : 10989.45

What a volatile wee(a)k!!…… Nifty has continued its losing streak for the third consecutive week.

Nifty fell net 215 points during the week and volatility almost 300-400 points in every day

Nifty has broken previous day’s low in last 16 days……. That’s means bear market

Didn’t expect this much of fall in global market in last one month

US market in last five sessions seen huge movements, every day 1000 points variations

In one month loss of US markets Dow 11%, Nasdaq 10% and Europe markets FTSE fell 13.45%, Dax declined 14.50%, and CAC down 14.75%

CoronaVirus death just 20% only. But world economic was collapsed due to virus

Virus spread in worldwide, Victims increased in US, Italy, Iran and Europe countries

No drug has been found yet, Really very bad news

In India, So far 32 victims found, Maybe will increased more and more because of population

In another issues going on in India……… YESBANK. In Nifty stock fell more than 50% in single day

On Friday, Morning I did mentioned in our blog “NiftyFuture will take support at 10830” @ 7.40 AM……… Friday  NF was made a low of  exact  10830.

Did you know ? I have recommended many selling alerts in last week NiftyFuture and booked almost 300 points profits!!

Let’s see, In coming week (09th-13th March) Nifty movements. Only 4 sessions (10th Holi holiday)

The index trend lower on the expected lines after the continued selling pressure!!

As per technical chart, Nifty spot will take support at 10825 and 10640

Chart indicating a very strong support at 10640 (Previous rally was started here)

Expecting some relaxation from that level………….Once if takes support will be move up to 11050, 11175 and 11400

Suppose if not takes support at 10640 (Nifty spot) and closes below the level

Finding a next supports 10330 and 10000…………!!

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Updated : 09.52 PM / 07th March 2020

Last close :  11149.15

Just a glance of last week.

 Over ?11 lakh cr wiped out from investor’s wealth on Dalal Street last week

Market was witnessed deep correction as CoronaVirus fear triggered the panic on global market

The Nifty ended with a weekly loss 7.28%, Banknifty 5.80% lower, Metal Index declined 14%, Media index fell 10.70%, Auto index fell 10.30% and Pharma declined 9.5%

Indian market saw a worst fall on weekly basis in several years

VIX Index closed the week @ 23 up 70%

On US market, Friday closed at 357 points lower and recovered almost 700 points from intraday low. Nasdaq has closed at flat.

Did you know ? On Thursday when NiftyFuture trading @ 11580 I did mention in Twitter…….. Don’t scary NF below 11600 next very strong support at 11120.

On Friday……. NiftyFuture was made a low of 11116.65 and closed at 11149.15.

On this week (02nd – 06th March) NiftyFuture where will take support & resistance ??

NF momentum indicator RSI which was already indicating a bearish divergence at two year’s low (RSI @ 23.89)

Now, NiftyFuture last week low at 11116……..is a major support

Suppose once if breaks and closes below 11116……… Expecting more weakness

Finding a next major supports 10675-10725. On 20th Sept 2019 rally 5.5% will be filled

Did you know ? Previous rally was 10700 to 12400 (After Corporate Tax Cut)

NiftyFuture resistance is seen at 11310, 11400 and 11550.

Thereafter will be move up to 11675…..(Expecting maximum rally)……. Stay caution!!

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Updated : 01.09 PM / 01st March 2020