Bulls took charge yesterday. Will there be another move today?!

Nifty gave a strong bounce yesterday after nearly testing 5225 levels and this was expected. A break of 5300 levels however again did not happen and after yesterday's move, the bulls are regaining strength.

Now that Nifty has established strong support at 5225 and also surpassed the resistance at 5270 levels, there is all the more chance of a break of 5300 levels and also test new year highs.

The volumes are still subdued. A momentum run with increasing volume is still due and is likely to be happen in the near term before markets lose steam.

Resistance levels : 5285, 5310, 5335

Support levels : 5258, 5225, 5201

-
Happy Trading
www.tripleint.com

Consolidation...Chances of bulls charging more than bears taking control ?!

On friday and also the whole of last week, Nifty went back into consolidation mode. 

Pattern-wise, bulls still have the upperhand and a retest of 5225 levels should give a strong bounce for Nifty at this stage.

There has been a bull trap at 5268 levels and that should act as a resistance. A break above that level would push Nifty back to 5310 levels.

Resistance levels : 5268, 5279, 5310

Support levels : 5241, 5225, 5201

-
Happy Trading
www.tripleint.com

Back to test range high. Bulls to take upperhand ?!

The uptrend which started towards the end of the session on 13th Jan 2010 is being held and yesterday throughout the upmove was maintained. Though the retracement did not happen till 5145 levels, the expected bounce happened.

The three day pattern is pointing to bullishness again. The volume PCR has gone up to 1.38 and this has gone in favour of the bulls.

The range is widening on the top. 5301 level will still offer strong resistance and any break can take Nifty to new highs of 5385 in the near term.

Resistance levels : 5282, 5301, 5335

Support levels : 5244, 5225, 5205

-
Happy Trading
www.tripleint.com

Nifty trying to breakout of the tight range. A test of 5145 and a strong bounce ?!

Yesterday markets failed to sustain to 5225 levels and broke it towards the end. This has given bears a slight upperhand for the shorter term.

Now there is all the more chance of bears to push markets to 5145 levels in the near term and bulls are expected to charge from those levels. 

The volume PCR is back to 1.04, indicating almost equal activity happening in puts and calls. 

Resistance levels : 5225, 5250, 5268

Support levels : 5201, 5187, 5169

-
Happy Trading
www.tripleint.com

Another flat day and consolidation continues? For how long is the question ??

Yesterday was another day of consolidation and in the end turned out to be a flat day considering the previous close.

I had written yesterday, a break of 5288 would push markets higher, but the break did not happen and 5287 became the hard ceiling for the day.

The historical volatility is very near to the year low and the expected breakout has not been happening for a while. The volume PCR at 0.95 though neutral has started to favour bears. Since the volatility is shrinking for quite sometime, markets should shrug off and go for a short term move either side. 5225 is a key level where the bear trap was made a few sessions earlier and that should provide a strong support.

Resistance levels : 5262, 5288, 5311

Support levels : 5238, 5225, 5201

-
Happy Trading
www.tripleint.com

Hovering in the range near the upper band...Upside breakout soon ?!

Nifty corrected a bit on friday, but still the overall pattern suggests bullishness and this week could see the markets going for an upside breakout.

Volumes have been steady and Nifty is also hovering in a tight range very near to the upperband.  Any move above 5288 will push the markets to retest the levels of 5310 and can also push it to 5385 levels.

Resistance levels : 5255, 5285, 5311

Support levels : 5234, 5216, 5201

-
Happy Trading
www.tripleint.com

More the consolidation, heavier the breakout ?!

Nifty has been forming doji pattern for the past two days and is consolidating near the range high. The retracement has not been much in the two days and the bear trap made at 5225 levels couple of days back still holds good.

The key levels remain the same and there is a higher probability of Nifty to break the 5300 barrier again and go for a higher close soon.

The volumes have started to slowly increase and any breakout of 5300 levels at this stage will bring in the required momentum and a push towards 5380 levels.

Resistance levels : 5295, 5324, 5365

Support levels : 5270, 5248, 5225

-
Happy Trading
www.tripleint.com

Range breakout and a strong up move for the day ?!

It was almost a repeat pattern yesterday where the markets opened stronger and sustained the up move throughout.

Given the scenario that the upperband is tested multiple times, there is a possibility of a very strong breakout on the upside and Nifty can even test 5385 levels in the very near term.

Yesterday's volumes were also the highest in a month pointing to a better possibility of an upside breakout.

Resistance levels : 5295, 5324, 5365

Support levels : 5270, 5248, 5225

-
Happy Trading
www.tripleint.com

Momemtum kicking in and Nifty to scale new highs !!

Nifty gave an upmove yesterday right from the start and also closed higher. There has also been an intraday move to trap the bears around 5225 levels.

Given this scenario, the expected momentum move is likely to happen and push Nifty to 5295 levels and even beyond.

The overall historical volatility has been ruling very low and it is high time that Nifty can break out of the range high and go for a momemtum run.

Resistance levels : 5252, 5265, 5295

Support levels : 5225, 5202, 5185

-
Happy Trading
www.tripleint.com

A new year and a new series...What to expect ?!

Finally december series came to an end and though it was a high close for the year, it could not break the upper band and move beyond that.

Now that a new series has begun on a new year, it looks like the momentum that was supposed to come towards the end of December is highly likely to be kicked off early this week and Nifty should move to test 5295 levels and beyond.

Resistance levels : 5217, 5246, 5265

Support levels : 5185, 5161, 5145

-
Happy Trading
www.tripleint.com