31st Oct: Breakdown below 5640 in Nifty Futures

• Nifty Futures closed at 5628 which is 74 points lower from its previous close of 5702.
• Finally the range bound trading is ended with breakdown of 5640 levels on closing basis in Nifty Futures indicating short term trend direction in downward side.
• Now, the positional target for Nifty Futures is placed at 5550 which is 50% retracement support.
• Any bounce back in Nifty Futures may face strong resistance in the zone of 5660 – 5680 where short selling positions can be initiated with the stop loss of 5730.
• The short term RSI on daily chart has cut the trigger line in downward direction suggesting continuation of current fall.
• Nifty Futures needs to surpass 5730 for changing the trend in upward direction.
• The timing cycle is indicating to continue the current trend till 30^th October to 2^nd November.
• The intraday resistance levels for Nifty are placed at 5660 & 5680 where as the intraday support levels are placed at 5590 & 5550 respectively.  

30th October: Range bound trading to end after RBI Policy

• Nifty Futures closed at 5705 which is 6 points higher from its previous close of 5699.
• Lower volume lackluster trading continues between 50 points range of 5730 & 5680 with directionless trend.
• After the RBI Policy announcement, it is expected that the direction of the intermediate trend will be clear i.e. breakout of 5750 or breakdown of 5640 is expected to happen.
• Once Nifty Futures closes above 5750, the upward target is placed at 5850 which is current high in very short span of time.
• But if breakdown of 5640 is materialized, then immediate target will be seen at 5550 which is 50% retracement level.
• On daily chart, symmetrical triangle structure is visible where sharp movements on either side are expected, hence trading is recommended after clear trend direction.
• In case of breach of 5640, the short selling can be initiated with the stop loss of 5700 for an immediate target 5550.
• The intraday resistance levels for Nifty are placed at 5750 & 5800 where as the intraday support levels are placed at 5640 & 5590 respectively.  

26th Oct: Early signal of Weakening trend if Weekly close below 5640

• Nifty Futures is still refusing to show the trend direction as 5750 & 5640 are still intact.
• Two previous consecutive weekly closes were seen at 5688 and current weekly close needs to maintain 5640 on closing basis.
• Early sign of weakness will be seen if Nifty Futures weekly close is seen below 5640 as sell off may follow after the breakdown.
• On the downside, the important levels to watch are 5600 & then 5550 which is 50% retracement support.
• But if Nifty Futures manages to clear 5750 on closing basis then a swift uptrend of around 100 points till 5850 will be materialized.
• Trading buying positions are recommended either above 5750 or near 5550 as per the chartical indications.
• The intraday resistance levels for Nifty are placed at 5750 & 5800 where as the intraday support levels are placed at 5680 & 5640 respectively.  

22nd Oct: Nifty Futures weekly chart indicates upward breakout above 5750

• Nifty Futures closed at 5688 which is 48 points lower from its previous close of 5736.
• The range bound movement was continued in Nifty Futures for 8th consecutive trading session between 5750 & 5650 showing directionless momentum.
• The weekly close is flat in comparison with its previous weekly close of 5687 but a ‘Doji’ Pattern is seen on weekly chart suggesting indecisive trend.
• A sustainable breach and closing above 5750 is likely to trigger fresh rally which is expected to cross earlier high of 5855.
• On the downside, breakdown below 5640 may result in losing near about 100 points and testing of 5550 which is 50% retracement support. 
• Due to indecisive trend, trading positions are recommended after either a breakdown of 5640 or breakout of 5750 levels .
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5720 & 5750 and support levels are placed at 5640 & 5600 respectively.

19th Oct: Nifty Futures needs to close above 5750 to negate correction

• Nifty Futures closed at 5736 which is 66 points higher from its previous close of 5670.
• Nifty Futures was stable to stay above the earlier bottom of 5640 and moved above 5700 forming intraday high at 5744.
• The important level to watch is placed at 5750 and Nifty Futures needs to surpass this level on closing  for uptrend continuation.
• For last 8 trading sessions, Nifty Futures moved in a 110 points band of 5750 to 5640 and the breakdown or breakout is expected to trigger sharp movement thereafter..
• A previous weekly close was seen at 5687 and current positive weekly close will indicate re-entry of bulls . 
• Fresh long positions are recommended only after Nifty Futures closes above 5750.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5760 & 5800 and support levels are placed at 5690 & 5650 respectively.

18th Oct: Hold Short Positions with Stop Loss of 5750

• Nifty Futures closed at 5670 which is 18 points higher from its previous close of 5652.
• Nifty Futures moved in a narrow range of 50 points throughout the day between 5695 and 5645 with lower trading volumes exhibiting lack luster day.
• The short term trend of Nifty Futures is still in the downward direction till it trades below the level of 5750.
• A convincing breach of 5630  will lead to sell off resulting in trading below 5600 with the target of 5550.
• A daily chart of Nifty Futures is showing ‘Falling Parallelogram’ structure with breakdown placed at 5630 . 
• In case of Nifty Futures closes above 5750, short positions are recommended to square off as trend reversal may be seen.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5720 & 5750 and support levels are placed at 5630 & 5600 respectively.

17th Oct: Short Selling Stop Loss 5750 for Nifty Futures

• Nifty Futures closed at 5652 which is 51 points lower from its previous close of 5703.
• Nifty Futures made intraday high at 5732 and lost 95 points in intraday breaching 5640 mark.
• As the intermediate of 5640 is breached in intraday, Nifty Futures is likely to continue the current downtrend with a target of 5600 and 5550 respectively.
• If any bounce back is seen near 5700, short selling can be initiated in Nifty Futures with stop loss of 5750 and positional target of 5550.
• The short term RSI on daily chart is still in the ‘Sell’ mode suggesting continuation of current corrective trend. 
• The upward trend reversal for Nifty Futures is placed at 5780 which is a previous week’s  high on the charts.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5680 & 5730 and support levels are placed at 5600 & 5550 respectively.

16th Oct: Crucial Support for Nifty Futures @ 5640

• Nifty Futures closed at 5703which is 16 points higher from its previous close of 5687.
• The intraday low was seen at 5664 but Nifty Futures managed to close above 5700 mark.
• On daily chart, three bottoms are seen near 5660 and crucial support is placed at 5640 below which sell off  may be seen.
• After the breakdown of 5640, the next support is placed at 5600 but positional target is at 5550 which is 50% retracement level.
• Any bounce back in Nifty Futures will face strong resistance near 5750 - 5760 where profit booking is likely to be seen. 
• The short term trend will remain in downward direction till Nifty Futures trades below 5820.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5740 & 5780 and support levels are placed at 5640 & 5600 respectively.

12th Oct: Nifty Futures needs to close above 5777 for Positive Weekly Close

• Nifty Futures closed at 5739 which is 67 points higher from its previous close of 5672.
• After breaching 5700, Nifty Futures moved near 5650 and bounce back of around 100 points was seen in intraday.
• A current bounce is likely to face strong resistance near 5780 which is 62% retracement level.
• Now, trading below 5700 will be initial sign of weakness and once Nifty Futures breaches 5650, positional target is 5570..
• A previous weekly close is seen at 5777 and current weekly close above this level will indicate re-gaining strength of bulls. 
• Fresh long trading positions are not recommended till the corrective trend is continued in the Nifty Futures.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5770 & 5800 and support levels are placed at 5700 & 5650 respectively.

11th Oct: Breakdown of 5700 in Nifty Futures

• Nifty Futures closed at 5672 which is 52 points lower from its previous close of 5724.
• Nifty Futures finally closed below the crucial support level of 5700 indicating short term trend reversal.
• The immediate target is placed at 5640 but the positional target remains at 5550 which is 50% retracement support.
• Any bounce back will face strong resistance in the zone of 5710 - 5740 for Nifty Futures where again selling pressure may be seen.
• The bounce back can be utilized for short selling in Nifty Futures with the stop loss of 5780 and targets of 5640 & 5550. 
• As the short term trend is reversed, we recommend to avoid long trading positions.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5710 & 5740 and support levels are placed at 5640 & 5600 respectively.

10th Oct: Nifty Futures needs to surpass 5800 to avoid corrective trend

• Nifty Futures closed at 5701 which is 76 points lower from its previous close of 5701.
• Nifty Futures moved in a 60 points range throughout the day between 5756 and 5696 maintaining the crucial support level of 5700.
• The important resistance on intraday chart is placed near 5780, hence Nifty Futures needs to close above 5800 to avoid downward correction.
• As the technical indicators are suggesting overbought zone of the market, the crucial support to watch is placed at 5700 for reversing the trend.
• Below 5700, an immediate target is placed at 5640 but positional target remains at 5550 which is 50% retracement support. 
• The fresh long positions can be created only above 5800 where as strict stop loss of 5700 is recommended for ongoing long positions.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5760 & 5800 and support levels are placed at 5690 & 5640 respectively.

9th October: Nifty Futures at the verge of breakdown below 5700

• Nifty Futures closed at 5701 which is 76 points lower from its previous close of 5777.
• For 2nd consecutive day, Nifty Futures closed in red and dipped below 5700 forming an intraday low at 5695.
• A daily chart is indicating short term trend reversal as  probable breakdown of 5700 mark is on the cards .
• Below 5700, an immediate target is placed at 5640 but positional target remains at  5550 which is 50% retracement support. 
• Any bounce back in Nifty Futures will face strong resistance in the zone of 5740 - 5770 where again selling pressure may be seen.
• The short term RSI on daily chart has cut the trigger line in downward direction suggesting high probability of short term trend reversal.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5740 & 5770 and support levels are placed at 5640 & 5600 respectively.

8th Oct: 5th Consecutive Positive Weekly Close for Nifty Futures

• Nifty Futures closed at 5777 which is 49 points lower from its previous close of 5826.
• In a volatile trading session, Nifty Futures opened at 5855 and lost 123 points in intraday forming a low at 5732 but some recovery was seen near the closing.
• Nifty Futures managed to stay above the crucial level of 5700 which is earlier trend reversal level.
• Nifty Futures exhibited 5th consecutive positive weekly close with week on week gain of 45 points. 
• The important level is placed at 5870 where multiple resistances are seen and can be achieved if current rally continues.
• For long trading positions, strict stop loss of 5700 is recommended and profit booking is suggested if the target of 5870 is achieved.
• If the breakdown of 5700 is materialized, then next support level to watch is 5050 which is 50% retracement level .
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5820 & 5870 and support levels are placed at 5700 & 5660 respectively.

5th Oct: Revised Stop Loss 5740 for Trading Long Positions

• Nifty Futures closed at 5826  which is  58 points higher from its previous close of 5768.
• Nifty Futures opened with 17 points upward price gap at 5785 and continued its uptrend to form intraday high at 5842.
• Nifty Futures has surpassed 5800 mark convincingly and the closing was seen much above this level showing strong grip of bulls.
• In the beginning of year 2012, we’ve seen 1097 points rally from the bottom of 4538 to high of 5635. 
• The equal distance of 1097 points in the current rally from the bottom of 4761 is showing the value of  5858 (1097 + 4761) which may act as important resistance.
• If Nifty Futures succeeds to cross 5858 mark then the immediate target would be 5900.
• The zone of 5790 - 5770 is expected to provide support if any intraday correction is seen.
• Trading long positions c an be held with the revised stop loss of 5740 below which corrective trend may begin.
•  The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5880 & 5930 and support levels are placed at 5790 & 5750 respectively.

4th Oct: Nifty Futures inching towards 5800

• Nifty Futures closed at 5768  which is  14 points higher from its previous close of 5754.
• Nifty Futures crossed earlier intermediate of 5766 and formed intraday high at 5773 continuing the ongoing uptrend.
• For last four trading sessions, Nifty Futures is consistently forming higher top - higher bottom and is now heading towards 5800 mark .
• Though, Nifty Futures is in overbought territory, the earlier sign of weakness will be seen below initial support level of 5700.
• The breakdown of 5700 will push Nifty Futures downwards in the zone of 5600 - 5550. 
• The current rally is likely to continue if a strong closing is seen above 5830 mark.
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5550. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5780 & 5830 and support levels are placed at 5740 & 5700 respectively.

 

3rd Oct: Nifty Futures moving towards trend line resistance of 5800

• Nifty Futures closed at 5754 which is  24 points higher from its previous close of 5730.
• Nifty Futures opened at 5725 and moved upwards in intraday forming intraday high at 5759.
• Now, after surpassing earlier high of 5766, Nifty Futures is likely to test the trend line resistance of 5800 as shown in the chart.
• The upward momentum I still strong as higher top - higher bottom formation is continued with current bottom placed at 5640.
• Till the level of 5640 is intact, the trend will rem ain in upward direction and below 5640, the next level to watch is 5550. 
• The current rally is likely to continue if a strong closing is seen above 5800 mark.
•  The short term trend of Nifty Futures is positive till it trades above the reversal level of 5550. 
• The intermediate trend of Nifty Futures is in upward direction and the intermediate trend reversal level is 5200 on weekly closing basis.
• The intraday resistance levels for Nifty Futures are placed at 5780 & 5830 and support levels are placed at 5700 & 5640 respectively.