NIFTY X RAY REPORT FOR 14 DEC

Market break the important support yesterday and now standing at crucial support level. Two days before i mention a level 5837. Remember this level is a trend decider level. If break then short term trend can be negative and long term trend line is at 5680 if break this level the real blood bath will start till 5090. I expected that market will jump towards 6100 but it faced resistance near 5950-60 level and fell down. Now there could be two possibilities forming on hourly chart.

1.-- It has formed double bottom formation. market can take support at this level or,

2.-- It may touch lower trend line on hourly chart which is around 5800.

Watch this level care fully.
IF MARKET DOES NOT CLOSE ABOVE 5900 TODAY THEN EXPECT THAT NEGATIVE IMPACT IS HEAVY ON MARKET.

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NIFTY

5874 SPOT LEVEL IS KEY FACTOR BREAK AND SUSTAIN BELOW THIS LEVEL INDEX MAY TOUCH 5840. 5840 WILL BE TREND DECIDER LEVEL. 

NIFTY UPDATE FOR 13 DEC

  WAITING FOR 6180

There is no changing in any technical signal and there is no any sign of weakness. Nifty 5864 level will be  trend decider for tomorrow. Broad market is still stronger than index. market is in consolidation mode and taking rest for next move. 6000 call highest open interest  showing stiff resistance on upside. 

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NIFTY X-RAY REPORT FOR 12 DEC

 Are you really confused by seeing the drama today. First market move unexpected upside and didn't sustain. Nifty is forming expanding triangle pattern. I think at 5865 the fall should stop and it may not tasted tomorrow also and expect a big move tomorrow also. But If 5865 broken, the next support is at 5837 level and consider this level as trend reversal level. So long term bull player must consider this level as stop loss. If nifty spot price move above 5930 then expect higher move and bull may take this hight up to 5990-6060 and 6126. In expanding triangle pattern bulls and bear both will confuse. Intraday trading will be difficult for few days.

FIIs bought index future worth rs 487.18 cores and open interest increased by 1% indicating that Fresh long position has been made by Fiis today. We may see more unexpected up move in coming time. But use this rally to exit from your long time investment only. Don't forget this is fifth wave of B wave rally. Market will turn only after making each and every person bullish. let see what happen. According to Nifty option open interest data 6000 call has highest open interest so expect this level as hurdle in near term. After breaking this level sky is unlimited option wise. let see............

GOOD LUCK

FLYING TOWARDS 6100

  MARKET MAY TOUCH 6100-6150 VERY SOON. HOLD YOUR LONG POSITION. 

STEP BY STEP MARKET IS ACHIEVING MY ALL PROJECTED TARGET BUT QUESTION IS..... ARE YOU ACHIEVING YOUR TARGET OR NOT ?

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GOOD LUCK

NIFTY UPDATE

AS NIFTY CLOSED FLAT SO THERE IS NO CHANGING IN TECHNICAL PATTERN. NIFTY TOOK SUPPORT EXACT AT 5888 AND I THINK MARKET SHOULD RESPECT THIS SUPPORT  AND MOVE ABOVE FROM HERE. EVERY TOM, DICK, AND HARRY IS BULLISH ON DALAAL  STREET AND GIVING TARGET OF 6600-7000. WHERE HAD YOU BEEN AT 4800-5000 LEVEL MR. ANALYST. BUT DON,T FORGET BIG BUST IS NEAR. MARKET MAY STRETCH UP TO 6200 IN EXTRIMLY BULLISH CASE  AND I EXPECT BULLISH TREND TILL 3 JANUARY BY ELLIOTT WAVE CYCLE WISE. JUST IMPROVE YOUR STOP LOSS AND BE IN TREND. 

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BANK NIFTY X-RAY REPORT FOR 10 DEC AND WEEK AHEAD

Last week I have shown a triangle breakout pattern on bank nifty chart. The index has jumped 204 points last week and made high at 12480. Bank nifty has played important roll to take market up but it is near its strong resistance level. 50% retracement level is at 12484 and next retracement level is at 61.8% which is at 12804. Any break above 12484 bank rally will continue to 61.8% level otherwise index may drag downward.

 

 I am going to show you three big Bank chart to understand this confirm this views.

First just see the sbin chart below. There are cluster of resistance on SBI chart. Immediate resistance at 2340. The stock has made high at 2339.60 and slipped from there in intraday.

Now lets see the chart of Icici bank chart. A long term rising trend line resistance is coming on ICICI bank chart which is at 1145. The stock has made high at 1144.45 and closed at 1131.70. The stock is its near 78.6% retracement level. Any break above this level stock may rise to 1190-95, otherwise stock may touch lower rising trend line.

Now lets consider AXIS BANK chart. There is coming resistance at 1367 on Axis bank chart which is previous weekly high. ICICI bank has tasted its 78.6% level so I hope that bullish sentiment will take the price upto 78.6% retarcement level which is at 1432. Therefore we may come to conclusion that all the above chart is at its near resistance level. Watch this level carefully any break of the resistance chart may touch the above projected level. I hope that all Negative sentiments has finished from gov side. Rbi policy is on next week and all these stocks may rise higher side.

GOOD LUCK.