DOJI : Indecision on weekly charts. After "inside days" on daily, DOJI on weekly charts.

Nifty Spot - Bearish Engulfing Pattern

Finally !!!

Going by the cyclical, the maximum Nifty has rallied, or showed a counter trend movement,
after a significant bottom, was for 14 sessions.
This time there have been 17 and counting.

The 200 MA is also just 100 points away from here and a level to watch.
Notice how it tried to cross the 200 MA but could not, and when it did, could not sustain.

Two areas marked in the chart:

1. 50 Week MA, (although the week is not over), 5540-5555 zone is to be watched for resistance

2. Stoch has given a bullish crossover on weekly charts

Nifty Weekly Chart

Nifty weekly Chart, range boundedness prevails (Click image to enlarge)

The gap marked in the chart being filled.
It can take a support on 50% retracement of recent high and low.
But it might not stay there after taking a support as no good trigger, for upmove, seems to be coming.
5472 zone can act as a support.

Bank Nifty spot chart, 12000 zone seems to be a resistance, lets see how it performs after RBI meet on 3rd May'2011.

The daily chart is also in a range which is getting narrower. With the RBI meet scheduled for tomo, i.e. on 3rd May'2011, we will get a clear picture as to where we are heading. Also posting Bank Nifty chart.

Nifty Weekly chart seems to be range bound. The current range being near 5550 zone on the lower side and 5880 zone on the upper side.

As seen its a classic case of divergence. One can short at higher levels with a stop just above the trend line. As it is we are heading into may and there is this famous quote about May - "Sell in May and go away".

Nifty Futures chart - self explainatory

Nifty Supports

Chart Self-explainatory (Click on the picture to enlarge)

NIFTY 26-11-2008 EOD

2670-2680 Zone will act as a resistance. If that is breached then next upmove can be upto 2770-2780. 2500 is a strong support

Nifty 11-11-08

NIFTY 11-11-08 EOD chart. Watch out for the supports and resistances and trade accordingly

NIFTY 07-11-08 EOD

Levels to be watched for in the coming week

Nifty 05-11-2008 EOD

Nifty tried but could not hold above our levels and came down. Now the big question is will we retest recent lows ?

Nifty 04-11-2008 EOD

Closing has come exactly below the levels we gave yesterday

Nifty EOD 03-11-2008

If Nifty is unable to break 3160-3175 zone... One can go short again. Will break or will not break is the big question

Nifty(spot) chart, in the channel, the upper resistance is close to the 100 EMA. I expect to be range bound for next month. Lets see... Hope we get a bullish breakout.

INFOSYS updated chart, 11-07-08

INFOSYS updated chart. We initiated a buy call at 1755 Rs. It did a high of 1850, almost 100 Rs up from our buying price. It has given a downward breakout today with good volumes. Hope this is a false breakout