MMMC

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NIFTY X-RAY REPORT FOR 26 APRIL

The Sensex closed at 19406.85 up 229.49 points from its previous close, and the Nifty closed at 5916, up 79.40 points. The CNX Midcap index was up by 0.56% while the CNX IT index was down by 1.56% in today's trade. The market breadth was positive with advances at 549 against declines of 477 on the NSE. The Bank index was up by 1.46% in last session and closed at 12726.85. HDFC jumped 5.46% highest on nifty 50 group while HCLTECH was the biggest looser with -2.29% in today's session.

Nifty gave a breakout above falling trend line and closed above 5900 psychological level and nifty hit one month high. AS per EOD candle stick pattern bullish gap up candle stick pattern has formed today. As per nifty Relative Strength Indicator (RSI), it is at 65 level and indicating very strong strenght towards up side.  As per nifty slow stochastic indicator it has placed now in overbought zone. The recent price pattern on nifty daily chart has given strong bullish signal from 5477 with increasing RSI towards upside in near term.  Nifty has strong resistance near 5971. NIFTY is in buy mode.

Nifty 5900 put of May series added fresh 2,176,700 fresh contracts in open interest. As nifty was up by 79.40 points and addition in 5900 put option indicating that 5900 put has been written.  Put call ratio is at 1.22  indicating positive sentiment. 

FIIs bought 125227 contracts of index future worth Rs. 3716 cores and open interest decreased by -31%. AS the F&O expiry was today so this data is not important but it is indicating huge shorts covering.  Fii bought equity in cash segment of 1449 cores.

LAST   HIGH - 5924  LAST LOW - 5853
WEEKLY HIGH - 5924 WEEKLY LOW - 5500
5 DMA DAILY - 5812
20 DMA DAILY- 5612

50 DMA DAILY- 5766

200 DMA DAILY- 5668

Advance / Decline Stocks above / below 50 DMA Breakouts: Bullish / Bearish Stocks gaining / losing > 5% Stocks Oversold / Overbought Stocks at 20 day HI / LO Stocks at 52 week HI / LOW

549 / 477 442 / 584 27 / 2 32 / 11 20 / 133 204 / 60 29 / 26

Nifty opened gap up above trend line and closed above 5900. As we are seeing very fast recovery so i hope there are still some more potential towards up side is due in market from current level. AS long as nifty doesn't close below its previous day low price my up side view will remain positive. Lots of nifty heavy weight company is at about to breakout level now and if breakout happen then it may take nifty more higher.  Nifty retraced 78.6% till now and face resistance around this level. As nifty hourly chart showing very overbought so 5950-5970 level may create hurdle for nifty and a minor correction up to 5790 can't be ruled out.

Short term stop loss for long trade at 5850 spot price

Target expected - 5970 if broken then 6170 expected.

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NIFTY X-RAY REPORT FOR 25 APRIL

The Sensex closed at 19179.35 up 9 points from its previous close, and the Nifty closed at 5836.90, up 2 points. The CNX Midcap index was down by 0.39% while the CNX Smallcap index gained 0.20% in yesterday's trade. The market breadth was negative with advances at 498 against declines of 537 on the NSE. The Bank index was down by -0.26% in last session and closed at 12543.40. Bajajauto jumped 2.93% highest on nifty 50 group while jindalsteel was the biggest looser with -3.93% in last session.

Nifty closed in positive sentiment also in yesterday trade up by 2 points and maintained its level above 5800.  As per nifty Relative Strength Indicator (RSI), it is at 61 level and indicating that it has more scope to move up. The recent price pattern on nifty daily chart had given strong bullish signal from 5477 with increasing RSI towards upside in near term.  Nifty has strong resistance near 5971. I will continue my upside view untill nifty break 5790 level in very short term. 61.8% retracement level is at 5870 which is minor hurdle for nifty. On the down side fresh short position created only below 5790 for the target of 5720.  NIFTY is in buy mode.

Nifty 5800 put added fresh 1394400 contracts in open interest. As nifty was up by 2 points and addition in 5800 put option indicating that 5800 put was being writing.  Put call ratio is at 1.22  indicating positive sentiment. 

FIIs bought 32150 contracts of index future worth Rs.930 cores and open interest increased by 8594  contracts, as nifty future was up by 10 points and open interest increased indicating that FIIs have added fresh long position in yesterday trade.

LAST   HIGH - 5844  LAST LOW - 5791
WEEKLY HIGH - 5844 WEEKLY LOW - 5500
5 DMA DAILY - 5766
20 DMA DAILY- 5649

50 DMA DAILY- 5765

200 DMA DAILY- 5665

Nifty is in up trend in very short term point of view. Nifty jumped and sustaining above 50% retracement level and it is very close to 61.8% level which is at 5869 from its previous down leg. As i have indicated you in my past post that ending diagonal triangle pattern was formed on nifty daily chart and break above the pattern will give a fast movement. Nifty recovered almost 350 points in just four days. Short term bias are highly positive and it is in buy on every dip mode until nifty break 5720 level. Above 5669 we may see nonstop rally upto 5970 level. We have seen very fast recovery in last week. this type of action generally happen in x wave.  RSI on hourly chart is in overbought zone so giving a hope that price of nifty may tired at any level and a correction of 80-100 point is expected also. here. SGX nifty indicating at 5905. expect gap up opening around this level tomorrow.

Short term stoploss for long trade at 5790 spot price

Target expected - 5970 if broken then 6170 expected.

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NIFTY EYES MMMC PERFORMANCE

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I am posting below the MMMC performance of one month. The only platform where people make only profits. The date of booked profit in the performance below are different from buying date. All calls are based on positional for one week holding period. To join MMMC click here

Nifty Chart and Pattern Update for 22 April

Few days back I gave you road map of nifty about possible up move. Nifty jumped 300 points in just 4 days. As i am seeing 3 wave formation on daily chart in up move from 5470 to till now so 100 points correction is expected in 4th wave on nifty chart. aggressive traders should be cautious towards long side for short term. The impulse of move after breaking of ending diagonal pattern is suggesting that nifty may re-taste 5970 level very soon. In short I will keep continue my up move view as long as 5650 is protected.