Nifty – Support and Resistance (6th August '10)
Nifty – Support and Resistance (6th August '10)
Nifty continued the upward rally today and made a high of 5480. Overall it was a highly volatile session. Technically market is looking well set to break the level of 5500 in near time. Decisive closing above 5500 may lead it towards the levels of 5600 to 5610 in near run. In the downside the intraday support seems to be around the levels of 5400 to 5405. Closing below this support range may make it slip till the lower levels of 5350 to 5355 in near run. For trading we already mention in our previous reports that every dip in nifty future is the buying opportunity until it close below 5350, the next targets in it seems to be at the level of 5500,5550 in near run.
Technical View on Sensex
Sensex reached close to the level of 18300, as we already mention in our previous report that it might face the next resistance in the zone of 18300 to 18350. Decisive closing above this resistance zone may head up it till the level of 18800 in near run. in the downside the immediate support for it seems to be in the levels of 18000 to 18025. After this it may get the next support close to the levels of 17820 to 17850.
Nifty continued the upward rally today and made a high of 5480. Overall it was a highly volatile session. Technically market is looking well set to break the level of 5500 in near time. Decisive closing above 5500 may lead it towards the levels of 5600 to 5610 in near run. In the downside the intraday support seems to be around the levels of 5400 to 5405. Closing below this support range may make it slip till the lower levels of 5350 to 5355 in near run. For trading we already mention in our previous reports that every dip in nifty future is the buying opportunity until it close below 5350, the next targets in it seems to be at the level of 5500,5550 in near run.
Technical View on Sensex
Sensex reached close to the level of 18300, as we already mention in our previous report that it might face the next resistance in the zone of 18300 to 18350. Decisive closing above this resistance zone may head up it till the level of 18800 in near run. in the downside the immediate support for it seems to be in the levels of 18000 to 18025. After this it may get the next support close to the levels of 17820 to 17850.
Technical View on Nifty and Sensex (3rd August '10)
Nifty – Support and Resistance (3rd August '10)
Nifty bounced from the support levels & in the end made a strong closing, as we already mention in our previous report that one may go for buy on dips in Nifty Futures until it close below 5350 for the targets of 5410,5440, today market achieved it. Now technically Nifty Futures is looking strong & have the next key resistance close to the level of 5500 to 5510. Decisive closing above this resistance range may take up it till the levels of 5600 to 5610 in near run. In the lower side the crucial short term support seems to be in the range of 5350 to 5370.
Technical View on Sensex (3rd August '10)
Sensex get the good buying support again close to the levels of 17825 to 17860 this zone be come the crucial short term support zone for the Sensex. the next key resistance zone for the Sensex seems to be at the levels of 18320 to 18350. decisive closing above this resistance zone may guide it towards the levels of 18800 to 18850 in near run.
Nifty bounced from the support levels & in the end made a strong closing, as we already mention in our previous report that one may go for buy on dips in Nifty Futures until it close below 5350 for the targets of 5410,5440, today market achieved it. Now technically Nifty Futures is looking strong & have the next key resistance close to the level of 5500 to 5510. Decisive closing above this resistance range may take up it till the levels of 5600 to 5610 in near run. In the lower side the crucial short term support seems to be in the range of 5350 to 5370.
Technical View on Sensex (3rd August '10)
Sensex get the good buying support again close to the levels of 17825 to 17860 this zone be come the crucial short term support zone for the Sensex. the next key resistance zone for the Sensex seems to be at the levels of 18320 to 18350. decisive closing above this resistance zone may guide it towards the levels of 18800 to 18850 in near run.
Technical View on Nifty (2nd August '10)
Nifty witnessed a correction today from the levels of 5400 to 5420 & in the end closed near to the level of 5370. The next support for Nifty Future seems to be at the level of 5350. Closing below this support may slip it till the lower levels of 5290 to 5300 in near run. For trading we recommend that traders should watch out the level of 5350, if it hold this level then one may go for long in nifty future for the targets of 5410, 5440 in near run. If it break the level of 5350 & sustain below it for a while then one may go for sell in it with the Stop Loss around 5375 for the targets of 5305,5260 in near run.
Technical View on Nifty and Sensex (30th July '10)
Technical View on Nifty (30th July '10)
Nifty witnessed an upside consolidation phase today. Overall it was high volatile session due to F & O expiry. Technically Nifty is still holding it's up trend & maintaining the upward rising channel on long time frame charts. In the downside it is getting the strong short term support close to the level of 5350. We recommend that traders may go for buy on dips in Nifty Future for the targets of 5450, 5500 in near run.
Technical View on Sensex (30th July '10)
Sensex was highly volatile for the whole day & in the end closed in marginal green. The immediate support for it seems to be at the level of 17850. Closing below this support may drag it till the lower levels of 17350 to 17400 in near run. Technically the overall trend of the Sensex is looking bullish & after some positive consolidation in the market we might expect fresh up rally.
Nifty and Sensex – Support and Resistance (29th July '10)
Nifty – Support and Resistance (29th July '10)
Nifty witnessed a profit booking on higher levels & in the end closed in the red zone. In the lower side it is having the crucial short term support around the level of 5350. Closing below this support may slip it till the lower levels of 5290 to 5300 in near run. Technically nifty future is still looking bullish and after some consolidation phase in the market we might expect one more upward rally in it. For intra day trading we recommend that traders may go for buy on dips in it until it close below 5350 for the targets of 5450,5500 in near term.
Technical View on Sensex (29th July '10)
Sensex witnessed a correction from the higher levels & in the end of the day closed below the level of 18000. The next support for Sensex seems to be at the level close to 17850. Closing below this support may slip it till the lower levels of 17350 to 17400 in near run.
Nifty and Sensex - Support and Resistance (28th july '10)
Nifty - Support and Resistance (28th july '10)
Nifty witnessed high volatile sessions today & in the end closed with a marginal gain. The main thing which is technically vital is that still it is holding the higher levels & rising towards the higher level of 5500. In the downside two short term support seems to be at the levels of 5400, 5350. Closing below the support of 5350 may slip it till the lower levels of 5290 to 5300 in near run. For intraday trading we already recommended in our previous reports that one may go for buy on dips in Nifty Future until it close below 5350 for the targets of 5500,5550 in near run.
Technical View on Sensex (28th July '10)
Sensex may get the next short term support close to the level 17850. Closing below this support zone may slip it till the lower levels of 17350 to 17400 in near run. Overall Sensex is looking to continue its uptrend & might make more up moves after some time consolidation.
Nifty witnessed high volatile sessions today & in the end closed with a marginal gain. The main thing which is technically vital is that still it is holding the higher levels & rising towards the higher level of 5500. In the downside two short term support seems to be at the levels of 5400, 5350. Closing below the support of 5350 may slip it till the lower levels of 5290 to 5300 in near run. For intraday trading we already recommended in our previous reports that one may go for buy on dips in Nifty Future until it close below 5350 for the targets of 5500,5550 in near run.
Technical View on Sensex (28th July '10)
Sensex may get the next short term support close to the level 17850. Closing below this support zone may slip it till the lower levels of 17350 to 17400 in near run. Overall Sensex is looking to continue its uptrend & might make more up moves after some time consolidation.
Nifty and Sensex Technical Levels for 26th July '10
Nifty Support and Resistance and Trading Levels (26th July '10)
Nifty, today hold the higher levels & in the end closed on flat notes. Still technically its is looking well set to touch the mark of 5500, 5550 in near run. In the downside nifty has the vital support zone close to the levels of 5290 to 5300, until it make decisive closing below this support zone one should focus on long side in nifty future. Technical indicator like RSI is also showing some more strength in it. So we recommend that traders should go for buy on dips in Nifty Future for the targets of 5500, 5550.
Technical View on Sensex (26th July '10)
Sensex made a closing above the higher levels of 18050 to 18100, now the next resistance for it seems to be in the range of 18300 to 18350. In the downside the immediate support for it seems to be at the levels of 17850. Closing below this support zone may slip it till the lower levels of 17350 to 17400 in near run.
Technical View on Nifty and Sensex for 21st July ‘10
Technical View on Nifty
Nifty witnessed a correction from the higher levels & in the end closed near to the support zone of 5350 to 5355. In the downside the next crucial support zone seems to be around the levels of 5290 to 5300. Decisive closing below this support zone may drag it till the lower levels of 5200 to 5205 in near term. We recommend that until it close below 5300 one may go for buy on dips in it for the upside targets of 5450, 5500 in near term.
Technical View on Sensex
Nifty witnessed a correction from the higher levels & in the end closed near to the support zone of 5350 to 5355. In the downside the next crucial support zone seems to be around the levels of 5290 to 5300. Decisive closing below this support zone may drag it till the lower levels of 5200 to 5205 in near term. We recommend that until it close below 5300 one may go for buy on dips in it for the upside targets of 5450, 5500 in near term.
Technical View on Sensex
Sensex witnessed the correction from the higher levels, in near run Sensex may drag it till the lower levels of 17300 to 17400. In the upside the next key resistance zone seems to be around the higher levels of 18050 to 18150. Decisive closing above this resistance zone may further confirm up trend in the market.
Technical View on Nifty and Sensex for 20th July '10
Technical View on Nifty(20th July '10)
Nifty witnessed a range bound movement with negative bias & in the end closed in the red. In the downside it is getting good support close to the levels of 5350 to 5360. Closing below this support zone may slide it till the lower levels of 5300 to 5305 in short term. In the upside closing above 5450 to 5455 may lead it towards the higher level of 5500 in near run. For trading we recommend buy on dips until it close below 5350 for the targets of 5450, 5500.
Technical View on Sensex(20th July '10)
Sensex made a consolidation close to the level of 18000, in the downside the next support seems to be around the levels of 17300 to 17400. Closing below this support zone may drag it till the lower levels of 16900 to 17000 in near run. One might expect the more consolidation close to Sensex until it made decisive closing above 18150.
Technical View on Nifty and Sensex for 19th July ‘10
Technical View on Nifty (19th July ‘10)
Nifty is getting a strong support close to the levels of 5355 to 5370. Today overall, it was in the range bound movement in the market with high volatility. Nifty is still holding its up trend & may continue it. In the upside the next resistance seems to be around the levels of 5445 to 5455. Closing above this resistance may take up it till the higher level of 5500 in near term. We had already mentioned in our previous report that traders may go for long in nifty future with the Stop Loss around 5345 for the targets of 5450,5500. So for Monday session traders should focus on buy on dips in nifty future.
Technical View on Sensex (19th July ‘10)
Sensex is making a slight bearish pattern on long time frame charts. In the upcoming trading sessions one may expect the range bound movement to continue with negative biasness. But if it do not break the support zone of 17300 to 17400 in few trading sessions & hold it these levels then it may make some upside moves. Sensex may face the next resistance close to the higher levels of 18100 to 18150. Closing above this resistance zone may further confirm more hike in it & may take it up till the higher levels of 18300 to 18350 in near term.
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