NIFTY Weekly technical analysis.

A bad week indeed for the Indian Stock markets characterized by high volatility and bad global sentiments.

Last week we saw NIFTY bearish mode.
Last week NIFTY closed at 4586 and this week at 4274.05 a negative movement.
FII's participation was moderate.
NIFTY TRIN at 0.457
NIFTY Range - Between 4185 to 4421

Current Spot - 4274
Support - 4190 and 4105
Resistance - 4359 and 4480
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Targets on the upside for short term - 4620 and 4670

Chart :



NIFTY Auto generated technicals.

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NIFTYlogy for 3rd June

Indian markets had a gap up opening of 160 odd points before it slipped into a negative zone.
Profit booking was seen at higher levels.
Most of the Asian markets ended negative.
Markets are looking heavily overbought.

NIFTY Trin - 1.694
Nature - Overbought

NIFTY Levels for 3rd June :
Spot - 4525.25
Support -4455.5 and 4385.85
Resistance - 4590.55 and 4656

Stocks looking strong for short term : HCC , LNT, RNRL, Cairn India and Hotel Leela.

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NIFTY Technical Analysis : Weekly Show !

The UPA victory changed the phase of the markets and it also changed peoples conception towards markets.
Turnover has increased in the markets.
FII's have turned net buyers over a period of time.
NIFTY Looks over brought. But the trend remains positive.

Last week we saw NIFTY zooming up.
Last week NIFTY closed at 4238 and this week at 4448.85 a major gain again.
FII's participation was excellent.
NIFTY TRIN at 0.24
NIFTY Range - Between 4210 to 4645

Current Spot - 4448.85
Support - 4340 and 4210
Resistance - 4575 and 4635
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Targets on the upside for short term - 4525 and 4670

Chart :



NIFTY Chart in the month of May basically indicates uptrend.

NIFTY Auto generated Technical analysis.

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NIFTY Weekly technical analysis.

The UPA victory gave a sharp movement in the markets. Couple of upper circuits and the markets were hardly open for 50 seconds on Monday.
Tuesday we saw a record turnover also witnessed by profit booking.
NIFTY Looks over brought. High volatility expected in the markets in the coming week.

Last week we saw NIFTY zooming up.
Last week NIFTY closed at 3671 and this week at 4238 a vary major gain. (In fact the maximum gain ever)
FII's participation was excellent.
NIFTY TRIN at 1.184
NIFTY Range - Between 4050 to 4400

Current Spot - 4238.50
Support - 4150 and 4080
Resistance - 4325 and 4390
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

NIFTY Targets on the upside for short term - 4350 and 4500.

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NIFTY Weekly Technical analysis.

Last week we saw NIFTY was in a bullish mode.
Last week NIFTY closed at 3473 and this week at 3620 a huge gain.
FII's participation was good.
NIFTY TRIN at 1.735
Over all Nifty is Range Bounded.
NIFTY Nature - Between 3400 - 3750.

Waiting till Election results are declared is the best strategy.

Current Spot - 3620.70
Support - 3540 and 3470
Resistance - 3725 and 3805
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

Nifty scaled the 3600 mark last Monday and went on to close the week above this level. Next medium term target zone for Nifty, if we consider the retracement of the down-move from January 2008 peak, lies between 3800 and 4000. July 2008 trough at 3790 will also be keenly watched as a possible resistance. Close below 3270 is needed to mitigate the positive medium-term view for the index.

Short-term outlook for Nifty is also positive and immediate targets are at 3730 and 3794. Supports for the week would be available at 3560 and 3460. Fresh longs should be avoided on a close below the first support.

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NIFTY Weekly technical analysis.

Last week we saw NIFTY was in a range bounded mode. Average uptrend was seen. Followed by strong global cues.
Last week NIFTY closed at 3384 and this week at 3480 an increase of 100 points odd. A good one.
FII's participation was good.
The week was followed with good global cues and also good local cues. (Rate Cut by RBI)
NIFTY TRIN at 1.331
Over all Nifty is Range Bounded.
NIFTY Nature - Wait and Watch

Support - 3236 and 3170.
Resistance - 3550, 3636 and 3684.
Reversal from either of these levels would provide the opportunity to initiate fresh short positions. (Resistance)

The short-term trend in the Nifty too is sideways between 3300 and 3500. Short-term traders can buy in declines with a stop at 3250. Upper target on a break-out above 3500 are 3550, 3636 and 3684. Supports for the week would be at 3236 and 3170.

A close below 3170 would be the first indication of a medium term trend reversal. As explained earlier, a strong counter-trend rally is in force since 2539. The first target for this move lies between 3480 and 3680. If this zone is crossed, the next target zone is around 3820.

NIFTY Auto generated EOD Technicals.

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NIFTY Weekly technical analysis.

Last week we saw NIFTY was in a range bounded mode and was a bit volatile.
Last week NIFTY closed at 2843 and this week at 2948 an increase of 100 points odd. This was due to global cues.
NIFTY TRIN at 0.35
Over all Nifty bullish.
5 day EMA at 2892

Pivot - 2954
Support - 2899 and 2846
Resistance - 3010 and 3064

NIFTY 1 month target 3210.
Over all mode "Volatile"
Range bounded - Range 2890 to 3085

NIFTY target for Next week - 3040 (NIFTY can touch this point and can come down)

Simple moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2924	2881	2857	2824	2884	2876	3791

Chart -


NIFTY Autogenerated technical analysis Click Here.
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Weekly NIFTY technicals.

Satyam saga is still on.
But a buyer for Satyam. LNT buys 12% stake in Satyam. And the stock is up at 38 levels up almost 40%. Lets see what magic iGate solutions can do ?
Its pure gambling.

Expect markets to be volatile next week also.
Support for NIFTY is at 2560 and resistance at 2890
If NIFTY crosses 50Days moving average of 2851 we can see NIFTY touching 3000 mark.

NIFTY Support and Resistance -

Previous resistance Previous support Weekly high Weekly low Monthly high Monthly low

3147 2813 2853 2702 3110 2571

Simple Moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2748	2768	2813	2874	2874	2851	3929

Fibonacci price projections-

	0%	61.8%	100%	161.8%	261.8%
Up	2813	3019	3147	3353	3687
Dn	3147	2941	2813	2607	2273

Chart -



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NIFTY Weekly Technicals

Markets were volatile last week but rebounded again.

Satyam saga still continuous as Raju wants a bail.

Markets cherished on Friday on account of global cues.

Now Inflation is at 11 months low at 5.24%.

Nifty is now in slaggy mode. Expect a range bounded movement from here.

NIFTY has a support at 2790 and 2710 and a resistace at 2950 and 3025.

Only if NIFTY crosses 2950 we would touch 3000 mark.

Simple Moving Averages -

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2784	2853	2920	2940	2861	2877	3981

We are currently in 50 D moving averages. If crossed we can reach 3K mark.

Fibonacci price projections-

	0%	61.8%	100%	161.8%	261.8%
Up	2813	3019	3147	3353	3687
Dn	3147	2941	2813	2607	2273

Chart - 

Chart shows slightly berrish movements.

But Monday expect a positive opening.

Happy Investing.

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NIFTY Weekly Technical Analysis.

Last week we broke the trend due to Satyam’s saga.

Last week markets gave up much of its gain.

I think markets will give up some more gain. NIFTY channels are now breaking channels are breaking in each time cycle.

Levels to watch out in this week would be 2745 and 2650 as supports and 2980 and 3055 as the resistance.

Currently we are trading between 20Day and 39Day simple moving averages. NIFTY needs to cross 2985 to break the trend.

More volatility expected this week.

Chart -

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NIFTY Weekly Technical

On my Birth Day I am writing this post. Hope it benefits.

Last week markets went up as predicted.

The coming week we may see more volatility. But I am bullish until NIFTY doesn’t break 2840. Above 3150 we can see 3225 and 3280.

We are in a range bounded mode.

On Monday we could see our markets rally.

Fundamentals are in favor of markets. But the FII’s are still pulling out their money.

Simple Moving Averages.

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2988	2960	2989	2945	2865	2873	4062

Currently we are above 50 Days moving average.

We may face a stiff resistance at 3100.

Fibonacci price projections-

	0%	61.8%	100%	161.8%	261.8%
Up	2813	2997	3110	3294	3591
Dn	3110	2926	2813	2629	2332

Chart –

Other Indicators –

- Volume (last/ 5 day average): 0 / 0
- 5 day RSI: 67 - no indication.
- 14 day RSI: 57 - no indication.
- Williams % R(14): 79 (summation factor 100)
- Average Directional Index ADX: 13
- Average True Range ATR: 5 days - 85 .....14 days - 110

NIFTY Futures –

Buy signal holds. Stop loss 2960.

Strong resistance at 3100. Previous top and trend line resistance.

Markets to continue trading within channel (EOD charts).

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NIFTY Weekly Technicals

Markets give up gains post Christmas.

US is closed for next few days. Asian markets may cherish this week.

I see markets may remain in upward trend this week.

The supports on the way down are at 2950 and resistances on the way up are at 3113-3168.

Above 3115 we can see 3200 and 3270.

Simple Moving Averages –

5 D	8 D	13 D	20 D	39 D	50 D	200 D
2972	2990	2958	2873	2852	2908	4111

At present we lie between 39 days SMA. Only if we cross 50 day SMA we heades towards 3050.

Fibonacci price projections-

	0%	61.8%	100%	161.8%	261.8%
Up	2503	2707	2833	3037	3367
Dn	2833	2629	2503	2299	1969

Chart –

Chart shows bearish movements from past couple of days.

Taking position for long term is now advisable.

Monday we can see a gap up opening.

If people say 6000 is the bottom (Sensex) we should have atlest corrected till 7850 on Sensex till now.

Other Indicators –

- Volume (last/ 5 day average): 0 / 0

- 5 day RSI: 31 - no indication.

- 14 day RSI: 46 - no indication.

- Williams % R(14): 38 (summation factor 100)

- Average Directional Index ADX: 16

- Average True Range ATR: 5 days - 99 .....14 days - 122

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Nifty spot Daily Chart Technical View by Dhawal Joshi

This article is written by Dhawal Joshi.

Daily chart has given trend line breakout which suggest me Bull steam in the market is still their. I am in the opinion of that we may see 3240 (high of 5 – November – 2008) in near future why because if you have noticed we have seen good amount of buying from FIIs (god of the emerging Market) and I have not seen too much of shorts in the market so over all trend is up as far as Intermediate trend is concern.

Although I should mentioned here is that Friday's candle stick has formed spinning Top (The real body of the pattern is white and small and The upper and lower shadows are longer than the real body's length) which suggest some indecisions in the market so I suggest go long above 3106 (High of Friday) or above 3118 with stop loss of 2995.

I want to informed those who tracks technical please do not avoid Friday's Spinning Top because it is a warning about a potential change or interruption in trend. So please those who are a Trader please watch out for 3106-3118 (I prefer 3118) for any possible longs in the market.

Conclusion:- One may think here that I have given both Bullish as well as Bearish view in the market , yes you are right why ?because if you see chart pattern it is Bullish (Trend line Breakout) and Friday's candle (spinning Top) has warned of Trend change after Long rally.

Nifty Spot Bullish above 3106 – 3118 (I prefer 3118) support at 2995 (based on 30 Minutes Intra Day chart) Resistance at 3240 for Near Term.

Credits go to Dhawal Joshi. He has a good insight in markets. He writes on www.dhawalsjoshi.blogspot.com

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