Here is your free Nifty analysis for 27-03-2009.
Nifty closed at 3084.35 on 26-03-2009.
Nifty may move up taking the cue from Dow and positive review of US president.
The resistances are 3107,3113,3147,3156,3235,3273.
Supports are 3077,3063,3056,3035,3003,2997,2973,2940.
Here is your free Nifty analysis for 26-03-2009.
Nifty 2984.35 which was a very good resistance level from where Nifty slid to 2930 region.
Today 2920 to 2940 levels may once again prove good support level below which Nifty may be taken to 2850 levels.
Market is likely to be volatile since the closing of March derivative contract falls today.
Resistances are 2997,3003,3017,3033,3047,3113,3121,3156,3235.
Supports are 2973,2960,2958,2950,2940,2932,2920,2897,2880,2850,2940.
Here is your free Nifty analysis for 25-03-2009.
Nifty has closed near the day's low . Nifty has started coming down after trying to open high and go up for the fourth time.This shows bears are becoming active whenever Nifty tries to go up.
Though the Nifty had a fall from 3017 the down ward movement is arrested above 2897 region.If nifty opens below this level we may witness more down side.
Resistances are 2938,2950,2970,2980,3017.
Supports are 2900,2897,2880,2850,2807.
Here is your free Nifty analysis for 24-03-2009.
Nifty moved above 2900 as predicted earlier and found selling pressure at 2950 and settled at
2940.
Nifty having settled above 2900 and last Thursday of the month falls in this week, the bears will scramble for covering their positions and take Nifty to 3100 level.
Resistances are 2950,2960,2970,3003,3035,3056,3113,3140.
Supports are 2920,2908,2897,2880,2870,2850,2807.
Here is your free Nifty analysis for 23-03-2009.
Nifty after 7 days rally that too in a bear market, hovered near 2800 .
It could not pass above 2836 and closed at 2808.
So we can fore see a volatile week from 23-03-2009 which is also closing week for March contracts.
Nifty will have to show strength in going above 2820 and last week high . Nifty may go above 2875 and 2900 where it will again face selling pressure.
Resistances are2816,2836,2849,2875,2897,2920,2950.
Supports are 2795,2750,2734,2715,2680,2660,2620.
Here is your free Nifty analysis for 19-03-2009.
Nifty could not sustain above 2800 (touched 2836 and came down) and closed at 2795.
Resistances are 2800,2824,2840,2850,2874,2887,2890.
supports are 2786,2776,2752,2739,2714,2705,2689,2660.
Open interest and volumes are higher in the 2800 strike call option than in the put option of the same strike.But open interest in 2700,2600 and 2500 strike puts are high.This may imply that market may go below.
Here is your free Nifty analysis for 18-03-2009.
Nifty went upto 2806( see my post for 17-03-2009.)and started sliding and closed at 2757.
If Nifty goes below this Nifty may go down and take support at 2700.
If Nifty goes below 2700 it will go down to 2660 and below.
Resistances are2817,2829,2850,2875,2880,2895,2920.
Supports are 2740,2715,2700,2680,2660,2620.
Here is your Free Nifty analysis for 17-03-2009.
Nifty formed an morning dojistar at 12.43 pm on 16-03-2009 and started moving up.
the upward march was halted at 2781 and settled at 2777 at close.
Today Nifty has to move above 2780 convincingly and should not come below 2760. If it comes below 2760,will 2720 region give strong support?
Resistances are 2789,2803,2820,2830,2850,2880,2892.
Supports are 2760,2746,2734,2715,2700,2680,2660,2620.
I have added new feature in this blog .Viewers can see the graphs of Nifty stocks,showing ema lines.It will be easy for taking decisions.
Nifty is approaching 2800 which is a strong resistance point.Like I have told earlier unless it moves above 2800 Nifty will come down.This time the down side will be steep and may find new lower levels.If it closes above 2800 Nifty may go to 3000 and even 3200. At any cost, Viewers are advised to play with proper stop loss and proper hedging.
Resistances are2737,2746,2760,2786,2800,2850.
Supports are 2705,2660,2650,2620,2540.
Nifty levels on 13-03-2009.
Nifty may move up today following the world sentiments.Nifty should not go below 2605 and should be above 2645 to positive.But what ever may be unless Nifty closes above 2800 the uptrend is not going to continue.
Resistances are
2620,2630,2645,2656,2660,2705,2715,2746,2780.
Supports are
2601,2575,2556,2540,2503,2485,2460.
Nifty has touched low of 2556 which is just above the support level of 2550 and closed at 2573.Cosidering the dow movements and Nifty closed above 2550
Nifty may open high and meet resistance at 2628 level. If Nifty goes above this level it may go to 2660,2705.Nifty is in down side mode only till it crosses 2790 and 2800.
Resistances are2612,2628,2678,2705,2720.
Supports are 2570,2554,2540,2524,2503.
Nifty will go down drastically below 2500 level.
Nifty has not produced buy signal. More down side is on the card. Nifty may touch 2503 level and go up. Bulls may take Nifty to 2720 and above level.Nifty has huge resistance at 2750 to 2800 level.
During these period since there no trend it is always better to hedge your trade or to play with stop loss.
Resistances are:2628,2646,2664,2678,2689,2715,2745.
Supports are 2585,2553,2539,2526,2503,2485,2460.
Different hedging methods are available for the traders. This is a big subject which I will be posting in this blog.
Nifty has come down further like I was writing earlier
Nifty has to be above 2580 and 2605 to keep up the upward journey .If not Nifty will come down to 2500 and 2554 and below.
Resistances are 2580,2601,2612,2640,2660,2714,2750.
Supports are 2554,2540,2526,2503,2485,2460,2444.
Nifty may reach 2660 and get resisted. If it go beyond 2660 Nifty may see selling pressure at2712 area.
Viewers are advised to do trading with proper hedging.
Nifty has seen more down side like I have mentioned on 2/3/2009 .
Now Nifty may go down further to the support levels around 2550 -2500. If it could not sustain above 2550 Nifty will touch October low of 2253.This was formed on Oct27,2008..
Resistances are2646,2656,2662,2694,2734.
Supports are 2612,2585,2570,2554,2540,2524,2503.
Nifty is not moving above 2795 and it is not a good sign.We may see some more down side.
Resistances are 2789,2800,2849,2874,2880
Supports are
2766,2746,2734,2715,2681.
It is better to initiate 2800 straddle, timing of buying is buy 2800 call when Nifty is near the support of 2680 and 2800 put near the resistance of 2800 and above.
