Nifty Technical Take - 9th November 2013

Weekly Closing Basis - Bearish engulfing pattern made on weekly charts of Nifty. This suggests change in trend from up to either sideways or down. Next week close would tell us the story.
Overbought nature suggests some cooling off.

Daily Closing Basis - Formation of lower highs and lower lows is intact, trend on daily remains down. We are close to the earlier swing low of 6079. Price action at that point would suggest what needs to be done.

I personally am short in Nifty Futures November 2013 Series.
For the move to be trending its has to stay below 6185.

1.  Trend - Down 
2. Quality - Strong 
3. 5DHEMA - 6255 
4. 5DLEMA - 6185
5. 13EMA - 6196 

Last Candlestick

1. O-6170 
2. H-6185 
3. L-6121
4. C-6141

Nifty Technical Take - 9th June 2012

Monthly TF: Nifty again has taken support at 55ema monthly. We have tested this support 8 times now and nifty has closed below it only once. After that the price was rejected and closed above the 55ema monthly. For the trend and the momentum on the monthly is down.


Weekly TF: Nifty is at the trendline of the last highs. But the momentum has just turned positive given a buy signal but the trend is down. Moreover weekly has just closed below its 13wema. which is 5071 and the closing is at the 5069 mark. Moreover the weekly candlestick is a bullish engulfing pattern but consider the tend was flat we do know how effective this is going to be to get the prices higher.


Daily TF: After making a lower low with positive divergences. Momentum is overbought on daily and trend is positive. We have just closed above the 200dma and now the sequence of higher highs and higher lows need to be maintained.

We are long with very strict stop losses now that we are the resistances.

Back home

I write this post today from a different computer. My other computer is having problems and thats the reason i have not been blogging.
Will put in a post afterwards on nifty technicals.

All of you out there Tc.

Nifty Analysis - 28th March 2012

Monthly TF- Nifty is making a possible inside day candlestick for the month with supports being at 5183 on monthly level. Stocs are in buy mode and Macd is in sell mode though its making lower histograms.

Weekly TF- Though the candlestick is lower low and lower high - for the timebeing 5179 is the 200ema which is holding and 5171 is the possible buying zone. Stocs is in sell mode and macd is in buy mode.

Daily TF- Today on daily TF candlestick has made a lower low but with positive divergences across all the three indicators I follow. Stocs are in sell and oversold territory and macd is in sell as well.

We would go long when stocs and macd tell us to do so, till then since the conditions are oversold we are not shorting nifty at this juncture.

17th March - Nifty Update

Nifty -

Monthly - Nifty is struggling to stay above 5385. As of now its forming a bearish harami pattern with inside day pattern according to the western charts suggesting that the price rises any further will need some time. Supports for the index come at 5245 and 5210. Stocs are in buy mode after bottoming up from the oversold zone and macd is in sell mode though its forming lower histograms.

Weekly - After opening higher this week at 5240, nifty has slipped back now to 5318. After the doji made last week, nifty had opened higher but the technicals ensured that the index was to sell off from higher prices. Stocs remain in sell mode and macd is forming lower histograms. Any price rises will be capped. 

Daily - Nifty had spent almost 12 days in the range of 5425 and 5325. Now that the index has closed below 5325, with overbought conditions we may go down further in the index. Stocs are in sell mode after turning down from overbought conditions and macd is in sell as well. Moving averages indicate fast fall setup. 

Further this week was a major news event week, and the news were used to sell at higher prices since technicals anyways were negative. Hence this market remains a sell. 

Be short.

Identify the Time Frame to trade

One of the most critical elements to trade successfully is to identify your time frame of trading and then work accordingly on the charts....
The decisions - entry and exits will then be taken accordingly...

Gold may now be catching up with Risk On Trade

Just wanted to check if Gold now would be catching on with the Risk On Trade.
In Indian Rupees, it seems to have made the low and now looks like upward march will begin.