ACE STOCK TIPS - www.acestocktips.com for Wealth Creation

Nifty Outlook for 29th Feb 2012

2012-02-29T09:27:00.002+05:30

Nifty Outlook for 29th Feb 2012

Watch out Supply zone b/w 5446-5468

Yesterday we were of the view that Above 5338 Nifty will rally to 5378.Target done.On hourly chart - bullish reversal pattern - Three outside up is formed which suggests that Nifty can touch 5446.If nifty takes out 5468(Supply zone between 5446-5468)there will be an attempt by the bulls to conquer 5600 in next 3-4 sessions.Shorting is advisable only below 5338.

Nifty Outlook for 27th Feb 2012

2012-02-27T09:07:00.003+05:30

Nifty Outlook for 27th Feb 2012

On Friday,we were of the view that Nifty can fall upto 5410 levels if 5473 level is violated during intraday session.After firm opening on Friday,Nifty drifted lower & breached 5473 level which triggered further fall upto 5410 level.Today's key resistance level (5455),Key Support Level (5378/5396) -- On 30/60 min Chart - Break ( & EOD close) below 5396 & 5378 will in all probability terminate the medium term bullish trend,conversely market can recoup Friday's losses above 5455

Nifty Outlook for 23rd Feb 2012

2012-02-23T09:11:00.004+05:30

Nifty Outlook for 23rd Feb 2012

Yesterday,we were of the view that 61.8% fibo retracement level/zone -5632-5673(of entire move from 6331-4531) will face resistance & bears will find this as an opportunity to create shorts.Nifty crashed by 100+ points from 5632.Now will this trigger further correction or is it just an aberration?Fundamentally markets are ahead of times & overheated.Market looks expensive.The recent rally of over 1000 points was on back of anticipation that govt will present reformist budget & ruling party will do well in state elections.Unless and until 5378 is not breached on closing basis(weekly + day) the current bullish trend will be intact.Today's key resistance level (5541),Key Support Level (5491) -- Break below 5473 will trigger further downside towards 5410 level,conversely market can regain yesterday's losses above 5541 level.

Nifty Outlook for 16th Feb 2012

2012-02-16T08:56:00.002+05:30

Nifty Outlook for 16th Feb 2012

On 10th Feb 2012,we mentioned in our Nifty outlook - " Bulls will have firm grip on market as long as level of 5378 is not breached on closing basis,weekly closing above 5378 will give further impetus to this ongoing liquidity driven rally.Should nifty stay above 5378,the ongoing rally can extend upto 5518 ( 4531+ 987) "

Nifty target of 5518 achieved in three trading sessions(refer trend check table). Monthly Trading levels(refer Nifty trading levels table)indicated jump of 177 points from 5337 level.The current ongoing rally has factored in positives of upcoming Budget & a favorable verdict for Ruling party in the state elections.Disappointment on this front (budget/election)will trigger correction,of course there is also developing geopolitical tension ( West-Iran standoff) & jitter over Greek issue(EU debt).

Today's key support level (5491) Key resistance level(5542).Intraday correction may happen if Nifty breaks 5491 on hourly chart,flip side of this move would be Nifty sustaining above 5542 level.

Nifty Outlook for 15th Feb 2012

2012-02-15T09:02:00.004+05:30

Nifty Outlook for 15th Feb 2012

Today's Key Support level (5378),Key Resistance level (5430).On 30min/60min Chart -Above 5410 Level, Nifty will attempt to take out 5460 level during intraday.More importantly,Nifty should sustain above 5378 on closing basis to keep the current trend alive.Since January all the minor corrections were bought into and with current sentiments being Risk On trade,buy on dips is visible in the market.Corrections are also not deep because lot of money is sitting on sidelines & there is feeling of being "left out" .Further liquidity injection by ECB & US FED (by unleashing variant of QE3) the global market & emerging markets can remain buoyant for longer time.This has also resulted into Panic buying.However,current sentiments may change dramatically on account of negative Geopolitical issue (Iran Issue) & lingering EU crisis(Greek bailout). Markets will undergo deeper corrections below 5290/5262 until then bulls will have an upperhand & minor corrections of 2-2.5% from current levels will be bought into by Panic Buyers.

Nifty Outlook for 14th Feb 2012

2012-02-14T09:14:00.003+05:30

Nifty Outlook for 14th Feb 2012

Nifty outlook & levels remain same as yesterday.

Today's Key Support level (5378),Key Resistance level (5419). Intraday bullish trend is intact as long as Nifty trades above 5378 level. Breach of 5378 on hourly chart can open up down side risk of 5338 & 5290.Flip side of this trade would be sustained buying interest above 5419 level with potential target of 5450-5460.

Nifty Outlook for 13th Feb 2012

2012-02-13T08:59:00.003+05:30

Nifty Outlook for 13th Feb 2012

Today's Key Support level (5378),Key Resistance level (5419). Intraday bullish trend is intact as long as Nifty trades above 5378 level on closing basis (hourly chart). Breach of 5378 level can open up down side risk of 5338 & 5290.Flip side of this trade would be sustained buying interest above 5419 level.

Nifty Outlook for 10th Feb 2012

2012-02-10T09:02:00.001+05:30

Nifty Outlook for 10th Feb 2012

Today's Key support @ 5378,Key resistance @ 5419.Bulls will have firm grip on market as long as level of 5378 is not breached on closing basis,weekly closing above 5378 will give further impetus to this ongoing liquidity driven rally.Should nifty stay above 5378,the ongoing rally can extend upto 5518 ( 4531+ 987) The current bullish trend will remain intact as long as 5290 Level is not violated on closing basis.

Nifty Outlook for 9th Feb 2012

2012-02-09T08:59:00.002+05:30

Nifty Outlook for 9th Feb 2012

Today's Key support level (5327) ,Key resistance level(5378).

There has been few failed attempts by bulls to get past 5378 level on closing basis.Correction will set in if this supply zone is not taken out in next couple of sessions. Intraday weakness will be visible below 5327 level.Conversely nifty may inch higher above 5378/5390 level.Intraday volatility will persist on account of developing risks in EU zone. Nifty's intraday range - 5327-5397.

On 30min/60min chart - Break out of this range on either side will end the deadlock.On downside further risk opens up below 5290 level,while on upside bulls will take charge above 5410 level.

Nifty Outlook for 8th Feb 2012

2012-02-08T09:07:00.002+05:30

Nifty Outlook for 8th Feb 2012

Today's Key support level (5290) ,Key resistance level(5348).

On 30/60 min chart - Intraday weakness will be visible below 5327 level.Bears lack conviction to short the market on account of liquidity gush,but below 5290/5262 bears may gain strength.Bulls may show signs of exhaustion if level of 5378(weekly closing basis) remains elusive during this week.Above 5348 level bulls may attempt to conquer 5378/5290 level. No significant short build up seen in the system until & unless Nifty takes out 5290 & 5262 on closing basis.

Nifty Outlook for 7th Feb 2012

2012-02-07T09:13:00.001+05:30

Nifty Outlook for 7th Feb 2012

Today's Key support level (5327) ,Key resistance level(5410). No significant short build up seen in the system until & unless Nifty takes out 5290 & 5262.On 30/60 min chart - Intraday weakness will be visible below 5327 level.Conversely the ongoing rally will gain further momentum above 5378/5290 level.

Nifty Outlook for 6th Feb 2012

2012-02-06T09:02:00.002+05:30

Nifty Outlook for 6th Feb 2012

Today's Key support level (5295),Key resistance level ( 5378).On Friday Nifty rallied above 5290 as mentioned in Nifty outlook.Nifty may attempt to cross 5378 during intraday. With bulls on rampage intraday profit booking will be visible only below 5295 level.On 1st of Feb we were of the view that close above 377EMA (5204), Nifty may rally to 5340-5378 level.

Nifty Outlook for 3rd Feb 2012

2012-02-03T08:59:00.004+05:30

Nifty Outlook for 3rd Feb 2012

Today's Key support level (5225), Key Resistance level ( 5290).Close above 5290 on RT 30 min chart can lead to levels of 5328 & 5357 during intraday.Conversely breach of 5225 on 30 min chart will trigger profit booking & Nifty may slide to 5192/5169 levels.

Nifty Outlook for 2nd Feb 2012

2012-02-02T09:03:00.005+05:30

Nifty Outlook for 2nd Feb 2012

Today's Key Support & Resistance level (30min/60min Chart) - 5192 & 5248.Nifty has successfully taken out 377 EMA.Panic Buying & liquidity gush is driving the market.We were of the view that ongoing rally may see some correction around 5169 levels,Nifty corrected for a day ( on monday) .However key takeaway on Monday's trading session was Nifty closing above 5068/5086 which gave some indications that bulls are not yet ready to give up 5169.Sentiments may sour if there is negative news w.r.t 2g case hearing today.Breach of 5192/5169 during intraday may create situation of panic sell off,critical supports exists at 5086,5068.Flip side of this trade would be Nifty sustaining above 377EMA zone of 5204/5224 with an attempt towards 5300.

Nifty Outlook for 31st January 2012

2012-01-31T09:08:00.003+05:30

Nifty Outlook for 31st January 2012

Today's Key support level at 5086 & Key resistance level @ 5127.Yesterday,selling pressure was visible below 5169 level.Nifty drifted to 5076 but managed to close above 5086.Today,watch out 5127 level on 30min/60min chart,Nifty may see some upside above 5127 level,conversely bears will have an upperhand below 5086 level.

Nifty Outlook for 30th January 2012

2012-01-30T08:56:00.000+05:30

Nifty Outlook for 30th January 2012
Today's Key support level at 5125 & Key resistance level @ 5225.This rally may exhaust should the Nifty fail to take out 377EMA zone 5205-5225 on closing basis.Breach of 5086,5025 & 4987 level on closing basis will terminate the ongoing rally.Today,watch out 5169 level on 30min chart,breach of this level will create an intraday panic sell off towards 5125,flip side of this trade would be an intraday recovery above 5189 level.

Nifty Outlook for 27th January 2012

2012-01-27T09:09:00.003+05:30

Nifty Outlook for 27th January 2012

So finally, Nifty achieved the target of 5169 envisaged by us during the 1st week of Jan. Today's Key support level 5125,while key resistance level would be 5202.

Nifty Outlook for 25th January 2012

2012-01-25T09:05:00.004+05:30

Nifty Outlook for 25th January 2012

Nifty barely 42 points away from our target of 5169.In the first week of January(2nd/3rd Jan) we have had mentioned in trend check table that close above 4710 will trigger short squeeze rally of 140 odd points.There was some consolidation before nifty broke 4854 on upside. Bears were squeezed out from the system above 4938 level.We have had mentioned in trend check table that breakout above 4938 will trigger 230 points rally. We were harping to the point that the rally could be as big as Oct 2011 rally(4710 to 5399).Today's key resistance level 5169 (closing basis),while support exists at 5086(closing basis).Long traders should book profit around 5169 as market is extremely overbought and bears will pounce on the slightest negative news(global or local) which can trigger sharp vertical fall.Profit booking expected below 5086 level,Termination of the rally below 4968 level.Short positions will be created as and when nifty breaches 5086/5068/5025 level.

Nifty Outlook for 23rd January 2012

2012-01-23T08:51:00.004+05:30

Nifty Outlook for 23rd January 2012

On 30/60 min chart, Nifty will gain above 5062.Conversely,correction will set in,should the nifty break 5004 on 30/60 min chart.Huge downside risk opens up below 4968/4938 levels.

Nifty Outlook for 20th January 2012

2012-01-20T09:14:00.003+05:30

Nifty Outlook for 20th January 2012

Nifty closed above 5000.We were of the view that rally this time will be similar to the one seen in Oct 2011.Street sentiments changed from Risk aversion to Risk on.Market can humble the best,so not taking anything for granted,long positions from 4812/4854 should trail stop loss at 4938/4982.On 3rd Jan we have had mentioned that hourly close above 4710 will trigger powerful bear rally.Will this turn out to be an another classical bear rally?Well,for now budget holds the key & will be the single most high weightage factor as a trend decider.

Which factor can play spoilsport ?-- Last month we added two factors in Risk matrix -- Anticipation of a reformist budget (advantage bulls) & Iran issue(advantage bears) -- The first factor ; Street expectation of a reformist budget is fueling current stock market rally aided by weaker dollar v/s Rupee.Iran factor & revisit of EURO crisis could play spoilsport & then of course,in this age of internet,selective leakage of rumors of multiple defaults can trigger deep corrections.So traders should stay with stop loss,Respect market trend,maximize profits in winning trades(by employing TSL method),minimize loss in losing trades(by employing MSL method)

TREND

Very short term - Bullish
Short Term term - Last stage of euphoria
Medium term Trend -Budget will decide the trend.

Nifty Outlook for 19th January 2012

2012-01-19T09:13:00.001+05:30

Nifty Outlook for 19th January 2012

Today's Key support & resistance level - 4938 & 5026.Yesterday,Nifty snapped a three- day winning streak.Nifty edged lower in choppy market,however the indices closed above 4938 Level.Nifty may see intraday levels of 5026 during the day.Shorting opportunity exists below 4938,until then it is advisable to avoid positional shorts.

First signs of meaningful correction : 8EMA dropping below 34EMA on day charts,sudden drop of SLOW STOCH below 80,VIX rising above 25/25.50, EOD closing below 4938 & 4879.

Currently 8EMA is above 34EMA,though market looks overbought,FIIs cash buying coupled with weakness in dollar against rupee is fueling the current rally.

Nifty Outlook for 18th January 2012

2012-01-18T09:14:00.004+05:30

Nifty Outlook for 18th January 2012

Today's key support & resistance level - 4938 & 4978.Though RSI suggests that Market is overbought,DI are indicating that this bear rally is much stronger,similar to the rally seen in Oct 2011 - From 4710 to 5360 SMR is indicating that there is excessive of greed in the system.Long traders should keep tight stop at 4879.Nifty will see more traction above 4978 closing.

Nifty Outlook for 17th January 2012

2012-01-17T09:11:00.003+05:30

Nifty Outlook for 17th January 2012

Key Support & Resistance level - 4841 & 4879.On 30/60 min chart - Nifty move below 4841 will weaken the sentiments.Nifty may drag down towards 4807.Conversely,Nifty sustaining above 4879 can be seen as a bullish signal towards 4900 & 4938.

Nifty Outlook for 16th January 2012

2012-01-16T09:07:00.001+05:30

Nifty Outlook for 16th January 2012

On 30/60 min chart - Nifty move below 4841 will weaken the sentiments.Nifty may drag down towards 4807 & further selling may lead to levels of 4773.Long trades will be profitable above 4869/4879 level,until then the intraday trade favors bears.

Nifty Outlook for 13th January 2012

2012-01-13T08:48:00.003+05:30

Nifty Outlook for 13th January 2012

Today's key level to watch out : 4812/4807 on downside & 4869/4879 zone on upside.

On 30/60 min chart - Nifty move below 4812/4807 will weaken the sentiments.Nifty may drag down towards 4773 & below.On Flip side,Crossover above 4869/4879 will give further impetus to this ongoing rally.Bulls may eye 4900 during intraday.

Nifty Outlook for 12th January 2012

2012-01-12T08:39:00.004+05:30

Nifty Outlook for 12th January 2012

Today's key level to watch out : 4812/4807 on downside & 4869/4879 zone on upside.On 30/60 min chart - Nifty move below 4812/4807 will weaken the sentiments.Nifty may drag down towards 4773 & below.Conversely,Nifty sustaining above 4854 will be a strong signal for further impetus to this ongoing rally. Crossover above 4869/4879,Nifty has upside potential of at least 45-50 points during Intraday.

Nifty Outlook for 11th January 2012

2012-01-11T08:46:00.005+05:30

Nifty Outlook for 11th January 2012

Finally bulls managed to take out congestion area(4770-4787). After 4 days of consolidation/flat closing ,Nifty finally hits our target of 4854 mentioned in trend check table.The trading signal was, On 15/30 min chart,move above congestion area ( 4770-4787) nifty will hit 4812 & 4854.Does this mean that market has bottomed out? Well none of risk indicators are pointing towards trend reversal in big way.This may be one of many bear market rallies.Big triggers or headlines to watch out is budget,policy action before and after budget & controlling of FISCAL DEFICIT.Today's key level to watch out : 4812 on downside & 4869/4879 zone on upside.

Nifty Outlook for 10th January 2012

2012-01-10T08:56:00.004+05:30

Nifty Outlook for 10th January 2012

Monday was Fourth consecutive flat closing.Nifty is trading within 4660-4770 range.On 15/30 min chart,move above the congestion area(4770-4787) will trigger further buying & nifty is likely to move towards 4812/4854.Conversely Bears will have an upper hand below 4720.Intraday move below 4694 could trigger further slide towards 4664.

Nifty Outlook for 9th January 2012

2012-01-09T09:06:00.001+05:30

Nifty Outlook for 9th January 2012

On friday,nifty attempted to take out 4787 on closing basis but after last hour spike to 4795,Nifty pared its gain to turn into negative zone.Nifty is trading within 4660-4770 range.On 15/30 min chart,move above the congestion area(4770-4787) will trigger further buying & nifty is likely to move towards 4812/4854.Bears will have an upperhand below 4720 & 4664 closing.

Nifty Outlook for 6th January 2012

2012-01-06T09:12:00.001+05:30

Nifty Outlook for 6th January 2012

Today's Key Support & Resistance Level - 4720 & 4787.There is congestion area for nifty around 4770-4787.In Last 3 trading sessions Nifty failed to get past 4787.With special trading session tomorrow,bulls have two more chances to get past 4787.On 15 min chart,move above this congestion area will trigger further buying & nifty is likely to move towards 4812/4854.Bears will have an upperhand below 4720 & 4664 closing.

Nifty Outlook for 5th January 2012

2012-01-05T09:13:00.003+05:30

Nifty Outlook for 5th January 2012

Today's Key Support & Resistance Level - 4720 & 4787.

Bulls may attempt to take out 4787 by this weekend,failure to get past 4787 & close below 4710 /4664 will give first confirmation signal of extreme bearish pattern - descending triangle ( with well established two intermittent trough - 4531 & 4588 combined with declining volume). This pattern may happen on account of renewed high risk aversion towards equities because of developing geopolitical risk - US/EU increasingly tense stand off with Iran over its nuclear program may worsen going head into 2012.Refer Trend check table & last week's write up.

Nifty Outlook for 4th January 2012

2012-01-04T09:15:00.004+05:30

Nifty Outlook for 4th January 2012

Today's Key Support & Resistance Level - 4720 & 4787.Nifty rallied spectacularly above 4685.Though yesterday's gap may look like an Exhaustion gap,traders should wait patiently for a definite confirmation before shorting the Nifty.The key component of an Exhaustion gap is extraordinary high volumes, indicative of distribution. Yesterday's Volumes were tepid.Exhaustion gap will come into play should Nifty fail to take out yesterday's high of 4773 in next couple of trading days.4720 & 4664 are key support levels,breach of both the levels,will result into Nifty falling precipitously without any retracements & possible breach of dec low of 4531.Flip side of this trade would be,bulls taking charge above 4787 EOD closing with a potential upmove towards 4854 and above.

Nifty Outlook for 3rd January 2012

2012-01-03T09:04:00.003+05:30

Nifty Outlook for 3rd January 2012

Today's Key Support & Resistance Level - 4587 & 4710.Nifty will face resistance at 4685.Move above 4664 & 4685 on 30/60 min chart will make way for 4710/4720.While Bears will have an upper hand below 4625/4609.

Nifty Outlook for 2nd January 2012

2012-01-02T08:57:00.004+05:30

Nifty Outlook for 2nd January 2012

Today's Key Support & Resistance Level - 4587 & 4710.On 30/60 min chart, 4609 is key support level.Breach of this level will open up possibility of testing 4587.Flip side of this trade would be Nifty moving above 4639.Potential upside target of this move is likely to be 4664 & 4689.

Five Key factors to watch out in 2012 - Fiscal Deficit(anything above 6 will invite downgrades) ,Rupee(anything above 55,even IT companies will face the heat),Crude oil(Weakening rupee & crude above 100 will widen fiscal deficit further),Political stability(Some of allies of UPA may create problems,election results in state assemblies) & EU end game(fiscal integration or will EURO break-off?)

Nifty Outlook for 30th December 2011

2011-12-30T09:01:00.000+05:30

Nifty Outlook for 30th December 2011

Today's Key Support & Resistance Level - 4609 & 4755. We have had mentioned in Trend check table that a trap rally of 100 odd points above 4710 is in offing.Failure of Nifty to get past 4812 level will trap long positions.Nifty made high of 4800 on Tuesday(27th Dec) .Selling pressure in last 2 sessions erased gains of pull back rally.Day charts of nifty is forming waterfall pattern (lower high/lower low) Interestingly,the 3 recent tops of Nifty ie 5399,5099 & 4800 are separated by 300 points difference.This indicates lack of conviction at higher levels.It also indicates that pull back rallies are getting shorter.Year end trading day bonhomie may give some sort of pull back rally,but unless 4812 /4854 is taken out on closing basis,the bearish trend in market will prevail.

Nifty Outlook for 29th December 2011

2011-12-29T08:53:00.003+05:30

Nifty Outlook for 29th December 2011

Today's Key Support & Resistance Level - 4664 & 4755.Nifty Outlook remains unchanged.Starting of the week,Nifty rallied above 4710 & made high of 4800. Nifty witnessed Selling pressure around 4800/4812 level.There will be an another attempt by bulls towards 4812/4854.Bears will be back in game below 4664/4625/4609.

Nifty Outlook for 28th December 2011

2011-12-28T09:12:00.003+05:30

Nifty Outlook for 28th December 2011

Today's Key Support & Resistance Level - 4710 & 4795.In last 2 sessions,nifty rallied above 4710 & made high of 4800. Nifty witnessed Selling pressure around 4800/4812 level.There will be an another attempt by bulls towards 4812/4854.Bears will be back in game below 4664/4625/4609.

Nifty Outlook for 26th December 2011

2011-12-26T08:59:00.004+05:30

Nifty Outlook for 26th December 2011

Today's Key Support & Resistance Level Post - 4664 & 4795. On 30/60 min chart : Above 4725 Bulls may attempt to conquer 4755 & 4795.Bears will be back in action as and when 4664/4625/4609 levels are breached.

CLICK STOCK TRENDS TO GET STOCK TRADING LEVELS

Nifty Outlook for 23rd December 2011

2011-12-23T09:05:00.004+05:30

Nifty Outlook for 23rd December 2011

Today's Key Support & Resistance Level Post - 4664 & 4795. On 30/60 min chart : Above 4755 Bulls may attempt to conquer 4795.Bears will be back in action as and when 4664/4625/4609 levels are breached.

Nifty Outlook for 22nd December 2011

2011-12-22T08:57:00.002+05:30

Nifty Outlook for 22nd December 2011

Today's Key Support & Resistance Level Post - 4625 & 4710.Yesterday's counter trend rally may abruptly end below 4625/4609.Three key support level - 4664,4625 & 4609.Breach of all 3 support levels will bring back fresh shorts in the market.Nifty will gain traction when 8EMA [4703/4710] is taken out on closing basis. 5EMA-8EMA cross over may trigger further upmove in Nifty.

Nifty Outlook for 21st December 2011

2011-12-21T08:33:00.004+05:30

Nifty Outlook for 21st December 2011

Today's Key Support & Resistance Level Post Gap up opening - 4587 & 4664. Positive global cues will ensure a gap up opening.Hourly chart indicates that Nifty can extend Intraday rally to 4710/4720 if 4625 & 4664 levels are sustained on 30min/60min charts.The Bollinger Band squeeze & Delta Neutral Nifty trade by Hedge Funds in anticipation of impending Year end rally will trigger bear rally for next 3-5 sessions.However India specific issues w.r.t Lokpal Bill,corruption & underlying weak Fundamentals may play spoilsport.The rally can abruptly end .This should not come as a surprise because bear market rallies are vicious & deceptive.This bear rally can extend upto 4710 or 4812-4854.Considering that previous two major bear rallies; 4660 to 5360 & 4710 to 5099 were sold into,Traders should use this opportunity to exit weak stocks.Larger set up remains bearish,not withstanding the minor or major pull back rallies.

Nifty Outlook for 20th December 2011

2011-12-20T09:05:00.000+05:30

Nifty Outlook for 20th December 2011

Today's Key Support & Resistance Level - 4587 & 4664.Hourly chart indicates that Nifty will attempt to take out 4664 on upside if key hourly support level of 4587 holds good for the first hour.Flip side of this move could be a break down below 4587.This down-move has potential to test yesterday's low.Pull back rally will develop should Nifty sustain above 4664 on 60min chart ,this will result into BB squeeze & 4700 could be in the offing.Larger set up remains bearish,not withstanding the minor or major pull back rallies.

Nifty Outlook for 19th December 2011

2011-12-19T03:18:00.003+05:30

Nifty Outlook for 19th December 2011

NIFTY SPOT TRADING LEVELS TABLE - CREATED ON 25TH NOV,2011.UPDATED ON 19TH DEC,2011

2	4992	5557
B2	4916	5382
B1	4869	5275
1	4793	5100
A2	4761	5012
A1	4742	4958
=L	4710	4870
=N	4634	4695
=S	4587	4587
1	4511	4413
a1	4479	4325
a2	4460	4270
2	4428	4182
b1	4352	4008
b2	4305	3900
3	4229	3725
	SPOT NIFTY LEVELS - WEEKLY	SPOT NIFTY LEVELS - MONTHLY
	19TH DEC -23RD DEC 2011	25TH NOV - 29TH DEC 2011

NIFTY SPOT TREND CHECK TABLE - DEC SERIES - UPDATED ON 19TH DEC 2011

Trend Check - EOH/EOD/EOW/EOM Closing	Sentiment	Signal Status
EOM Closing Below 4587	Nifty retracing back to fill the gap of 18th May 2009 - This would be second bearish signal.	Pending
EOW closing below 4664	Nifty may fill gap of 18th May 2009	Partially Confirmed - 16th Dec (two consecutive close below 4720 is pending). Whipsaw in offing if Nifty fails to close below 4720 for two consecutive days.
EOD closing below 4720 (Two consecutive)	Very Bearish -Extreme Panic	Pending**^
EOD Closing above 4710	Short Squeeze - Trap Rally of 100/140 Points	Pending
EOH closing above 4812 + EOD closing above 4854	Short term trend reversal-Bullish	Pending
EOD closing below 4938 + EOH closing below 4879	Termination of Pull Back Rally	Confirmed -9th Dec
EOD closing above 5169(Two consecutive)	Bullish Trend	Pending
EOD closing Above 5334	Bullish Trend	Pending
EOW closing Above 5378	Medium Term Trend Reversal-Bullish	Pending

**Nifty closed below 4720 on Wed(23rd Nov).On account of short covering,thursday(24th Nov) was a rare positive closing but the gains were reversed on friday(25th) when nifty closed below 4720.Two closes below 4720 were not consecutive.

^Nifty closed below 4720 on Friday(16th Dec).

Recall our Nifty view & Trend table posted on 5th -9th Dec,2011 -- Pull back rally will terminate below 4938 closing

Nifty is down by 300 points in 5 trading sessions.

Recall - Nifty view posted on 12th Dec,2011

Weekly close below 4664,Probability of Nifty filling the Gap of 18th May 2009(nifty 3671-4323) will increase by a large margin.This gap may be filled by FEB/MAR 2012 in event of lackluster budget,RBI adopting hawkish stance,Stagnating Economy on account of policy paralysis,Weakening Rupee,Growing Fiscal deficit,lingering corruption issues.All the three pull back rallies since Oct 2011 were sold into & bearish trend is very much visible.First major pull back rally was sold into after Nifty made high of 5360 (Pull Back Rally - 4660-5360). Second Major Pull back attempt was sold into after Nifty made high of 5099(4710-5099).

Recall our Nifty view on 25th Nov,2011 : Pull back rally above 4748 closing

We have had mentioned in our Nifty trend table and Nifty trading level table -- EOD closing above 4748 + EOH closing above 4779 Will trigger pull back rally. Nifty spot will see targets of 4968/4984 on account of short squeeze.

Recall out nifty outlook posted on 4th Nov -8th Nov,2011 : Deceptive rally - Nifty's failure to close above 5334 will trigger sudden trend reversal

Nifty failed to cross 5334(closing basis) on 4th Nov 2011. Intraday high on 4th Nov was 5326,EOD closing on 4th Nov was 5284.Bulls made two more failed attempts@ 5334 on 8thNov & 9th Nov 2011.First warning signal was close below 5169 on 11th Nov.This was followed by breach of two key support levels 5086 & 5027.We have had mentioned on 4th of Nov that rally is deceptive.Rationale being ;low volumes,weak macros,high risk aversion and SMR a key psychological indicator signaled Excess of Greed in the system(SMR data from 28thOct -4th Nov).

NIFTY WEEKLY OUTLOOK,TRADING TABLE & TREND CHECK TABLE - FOR THE WEEK - 12TH DEC - 16TH DEC 2011

2011-12-13T09:18:00.001+05:30

NIFTY WEEKLY OUTLOOK,TRADING TABLE & TREND CHECK TABLE - FOR THE WEEK - 12TH DEC - 16TH DEC 2011

Weekly outlook -- Weekly close below 4664,Probability of Nifty filling the Gap of 18th May 2009(nifty 3671-4323) will increase by a large margin.This gap may be filled by FEB/MAR 2012 in event of lackluster budget,RBI adopting hawkish stance,Stagnating Economy on account of policy paralysis,Weakening Rupee,Growing Fiscal deficit,lingering corruption issues.All the three pull back rallies since Oct 2011 were sold into & bearish trend is very much visible.First major pull back rally t was sold into after Nifty made high of 5360 (Pull Back Rally - 4660-5360).Second Major Pull back attempt was sold into after Nifty made high of 5099(4710-5099).Another Pull back attempt may come above 4854 closing until then current ongoing sell off will continue.The current fall is on account of weakening Fundamentals of Indian economy.Positive policy action by RBI may be last hope for short trend reversal.Last Thursday,We mentioned in our Trend check table that close below 4938 will signal termination of Rally. Nifty has since dropped by 200 points.

NIFTY SPOT TRADING LEVELS TABLE - CREATED ON 25TH NOV,2011.UPDATED ON 12TH DEC,2011

2	5176	5557
B2	5107	5382
B1	5064	5275
1	4995	5100
A2	4966	5012
A1	4948	4958
=L	4919	4870
=N	4850	4695
=S	4807	4587
1	4738	4413
a1	4709	4325
a2	4690	4270
2	4661	4182
b1	4592	4008
b2	4549	3900
3	4480	3725
	SPOT NIFTY LEVELS - WEEKLY	SPOT NIFTY LEVELS - MONTHLY
	12TH DEC -16TH DEC 2011	25TH NOV - 29TH DEC 2011

NIFTY SPOT TREND CHECK TABLE - DEC SERIES -CREATED ON 25TH NOV 2011,UPDATED - 13TH DEC 2011

Trend Check - EOH/EOD/EOW Closing	Sentiment	Signal Status
EOW closing below 4664	Nifty may fill gap of 18th May 2009	Pending
EOD closing below 4720 (Two consecutive)	Very Bearish -Extreme Panic	Pending**
EOD closing above 4748 + Hourly closing above 4779	Pull Back Rally	Confirmed -28th Nov (low volumes)
EOD closing above 4854 (Two consecutive)	Short term trend reversal-Bullish	Confirmed -2nd & 5th Dec
EOD closing below 4938 + EOH closing below 4879	Termination of Pull Back Rally	Confirmed - 9th Dec
EOW closing above 4786	Positive RBI Policy -Year End Rally	Pending
EOD closing above 5169(Two consecutive)	Bullish Trend	Pending
EOD closing Above 5334	Bullish Trend	Pending
EOW closing Above 5378	Medium Term Trend Reversal-Bullish	Pending

**Nifty closed below 4720 on Wed(23rd Nov).On account of short covering,thursday(24th Nov) was a rare positive closing but the gains were reversed on friday(25th) when nifty closed below 4720.Two closes below 4720 were not consecutive.

Recall our Nifty view on 25h Nov,2011 : Pull back rally above 4748 closing

We have had mentioned in our Nifty trend table and Nifty trading level table -- EOD closing above 4748 + EOH closing above 4779 Will trigger pull back rally. Nifty spot will see targets of 4968/4984 on account of short squeeze.Target Done.

Recall out nifty outlook posted on 4th Nov -8th Nov,2011 : Deceptive rally - Nifty's failure to close above 5334 will trigger sudden trend reversal

Nifty failed to cross 5334(closing basis) on 4th Nov 2011. Intraday high on 4th Nov was 5326,EOD closing on 4th Nov was 5284.Bulls made two more failed attempts@ 5334 on 8thNov & 9th Nov 2011.First warning signal was close below 5169 on 11th Nov.This was followed by breach of two key support levels 5086 & 5027.We have had mentioned on 4th of Nov that rally is deceptive.Rationale being ;low volumes,weak macros,high risk aversion and SMR a key psychological indicator signaled Excess of Greed in the system(SMR data from 28thOct -4th Nov).

Nifty Outlook for 9th December 2011

2011-12-09T08:52:00.001+05:30

Nifty Outlook for 9th December 2011

Today's Key Intraday support and resistance level 4854 & 4992.Yesterday Nifty collapsed to 4943 because of fresh concerns on political stability.Sentiments may turn from bad to worse as noose tightens on key law makers of ruling party.This has added new dimension to risk matrix. Positive Global news may impede the second wave of selling below 4664 (weekly closing).Medium term outlook for Indian economy is grim.We have had mentioned umpteen times in our Nifty outlook posted during June-Nov 2011 ;Until Nifty closes above 5378(weekly),all the pull back rallies will be sold into.These rallies are typical bear market traps.

Post gap down opening : On 30/60min chart - Consolidation of nifty around 4854-4879 zone & volume move above 4879 on 30/60 min chart can trigger recovery during intraday.Key resistance on upsides are : 4944 & 4992 .

Nifty Outlook for 8th December 2011

2011-12-08T08:59:00.001+05:30

Nifty Outlook for 8th December 2011

Today's Key Intraday support and resistance level 4968 & 5115.On 30/60min chart - close below 5048 can make way for further downside move towards 5012.Nifty sustaining above 5086 ( on 30min/60min chart) will give more traction to the ongoing pullback rally.Upside target for the day could be 5115/5135

Nifty Outlook for 7th December 2011

2011-12-07T08:38:00.001+05:30

Nifty Outlook for 7th December 2011

Today's Key Intraday support and resistance level 4968 & 5115.On hourly chart - close below 5012 will be the trigger level for a down side move towards 4968.Nifty sustaining above 5052 ( on 30min/60min chart) will give more traction to the ongoing pullback rally.Upside target for the day could be 5086/5115.

Nifty Outlook for 5th December 2011

2011-12-05T01:51:00.001+05:30

Nifty Outlook for 5th December 2011

Today's Key Intraday support and resistance level 4968 & 5169. Hourly Support and resistance level : 5012 & 5086

On 30min/60min chart - close below 5012 will be the trigger level for down move towards 4968.Nifty sustaining above Friday's closing ( on 30min/60min chart) will give more traction to the ongoing pullback rally.Upside target could be 5086.

NIFTY SPOT TRADING LEVELS TABLE - CREATED ON 25TH NOV,2011.UPDATED ON 5TH DEC,2011

2	5287	5557
B2	5255	5382
B1	5236	5275
1	5204	5100
A2	5118	5012
A1	5065	4958
=L	4979	4870
=N	4948	4695
=S	4928	4587
1	4896	4413
a1	4810	4325
a2	4757	4270
2	4672	4182
b1	4640	4008
b2	4620	3900
3	4589	3725
	SPOT NIFTY LEVELS - WEEKLY	SPOT NIFTY LEVELS - MONTHLY
	5TH DEC -9TH DEC 2011	25TH NOV - 29TH DEC 2011

NIFTY SPOT TREND CHECK TABLE - DEC SERIES - CREATED ON 25TH NOV 2011,UPDATED - 5TH DEC 2011

Trend Check - EOH/EOD/EOW Closing	Sentiment	Signal Status
EOW closing below 4664	Nifty may fill gap of 18th May 2009	Pending
EOD closing below 4720 (Two consecutive)	Very Bearish -Extreme Panic	Pending**
EOD closing above 4748 + Hourly closing above 4779	Pull Back Rally	Confirmed -28th Nov (low volumes)
EOD closing above 4854 (Two consecutive)	Short term trend reversal-Bullish	Confirmed -2nd & 5th Dec
EOD closing below 4938 + EOH closing below 4879	Termination of Pull Back Rally	Pending
EOD closing 4968-5086	Buy on Dips	Pending
EOD closing above 5169(Two consecutive)	Bullish Trend	Pending
EOD closing Above 5334	Bullish Trend	Pending
EOW closing Above 5378	Medium Term Trend Reversal-Bullish	Pending

**Nifty closed below 4720 on Wed(23rd Nov).On account of short covering,thursday(24th Nov) was a rare positive closing but the gains were reversed on friday(25th) when nifty closed below 4720.Two closes below 4720 were not consecutive.

Recall our Nifty view on 25h Nov,2011 : Pull back rally above 4748 closing

We have had mentioned in our Nifty trend table and Nifty trading level table -- EOD closing above 4748 + EOH closing above 4779 Will trigger pull back rally. Nifty spot will see targets of 4968/4984 on account of short squeeze.

Recall out nifty outlook posted on 4th Nov -8th Nov,2011 : Deceptive rally - Nifty's failure to close above 5334 will trigger sudden trend reversal

Nifty failed to cross 5334(closing basis) on 4th Nov 2011. Intraday high on 4th Nov was 5326,EOD closing on 4th Nov was 5284.Bulls made two more failed attempts@ 5334 on 8thNov & 9th Nov 2011.First warning signal was close below 5169 on 11th Nov.This was followed by breach of two key support levels 5086 & 5027.We have had mentioned on 4th of Nov that rally is deceptive.Rationale being ;low volumes,weak macros,high risk aversion and SMR a key psychological indicator signaled Excess of Greed in the system(SMR data from 28thOct -4th Nov).

Nifty Outlook for 2nd December 2011

2011-12-02T08:52:00.001+05:30

Nifty Outlook for 2nd December 2011

Today's Key Intraday support and resistance level 4871 & 4968. Hourly Support and resistance level : 4910 & 4938

Today's key 30/60 min trading point : 4938(Upside) & 4910 (Downside).Above 4938 level on 30min/60min chart,Nifty may attempt to cross 4968/4984 level.Flip side of this trade would be bear trade below 4910 level on 30min/60min chart with potential downside target of 4871 level.

We have had mentioned in our Nifty trend table and Nifty trading level table -- EOD closing above 4748 + EOH closing above 4779 - Nifty spot will see targets of 4968/4984.Targets were achieved on 1st Dec 2011.

Recall our Nifty outlook posted on 29th Nov,2011 :

Spectacular Pull back rally after friday's decline trapped the shorts.Low volumes indicates that bulls were skeptical at higher levels and gains were mainly due to short covering.SMR indicates that move is deceptive.Two consecutive close above 4854 can be construed as a short term trend reversal.Probable top of this ongoing pull back rally could be anywhere between 4854- 4984.The reason for such a wide range (4854-4984) is due to the fact that Short squeeze can give an extended pullback rally beyond 4854 with two distributive points at 4938 & 4968.As long as nifty stays below 5169,the trend is bearish and these sharp V shape pull back rallies are part of bear market.

Nifty Outlook for 1st December 2011

2011-12-01T09:14:00.001+05:30

Nifty Outlook for 1st December 2011

Today's Key Intraday support and resistance level 4871 & 4984. Hourly Support and resistance level : 4938 & 4968

Today's key hourly level post gap up opening : 4968( upside) & 4938(downside).Nifty likely to open with a huge gap up on account of coordinated action by major central banks to provide liquidity to the global financial system.Post gap up opening 4938 would be key hourly support level,Breach of 4938 on hourly chart will temper the sentiments.Flip side would be Nifty holding 4968 on closing basis and hourly basis.

Nifty Outlook for 30th November 2011

2011-11-30T09:11:00.001+05:30

Nifty Outlook for 30th November 2011

Today's Key Intraday support and resistance level 4712 & 4882. Hourly Support and resistance level : 4786 & 4854

Today's key hourly level : 4854 ( upside) & 4786(downside).Sustained volume move above 4854 will give traction to on going pull back rally.Flip side would be breach of 4786 on hourly chart that has potential to undo the gains of monday's 140 points pullback rally.

Nifty Outlook for 29th November 2011

2011-11-29T09:08:00.002+05:30

Nifty Outlook for 29th November 2011

Today's Key Intraday support and resistance level 4706 & 4938. Hourly Support and resistance level : 4786 & 4854

Spectacular Pull back rally after friday's decline trapped the shorts.Low volumes indicates that bulls were skeptical at higher levels and gains were mainly due to short covering.SMR indicates that move is deceptive.Two consecutive close above 4854 can be construed as a short term trend reversal.Probable top of this ongoing pull back rally could be anywhere between 4854- 4984.The reason for such a wide range (4854-4984) is due to the fact that Short squeeze can give an extended pullback rally beyond 4854 with two distributive points at 4938 & 4968.As long as nifty stays below 5169,the trend is bearish and these sharp V shape pull back rallies are part of bear rally.

Today's key hourly level : 4854 ( upside).Sustained volume move above 4854 will add on to yesterday's rally.Flip side would be breach of 4786 on hourly chart that has potential to undo the gains of yesterday's pullback rally.

Nifty Outlook for 28th November 2011

2011-11-28T08:45:00.000+05:30

Nifty Outlook for 28th November 2011

Today's Key Intraday support and resistance level 4639 & 4779. Hourly Support and resistance level : 4677 & 4748

Post gap up opening,4748 level should sustain on hourly basis for further intraday gains.Nifty will hit resistance level of 4779 on the way up.Crossover above 4748 on closing basis coupled with a volumes move above 4779 on hourly basis will be signal for pull back rally.Short term trend reversal level -Two consecutive close above 4854.Flip side of this positive move would be failure of Nifty to sustain 4748 level post gap up opening & breach of 4706 level( on 30 min chart) ,followed by violation of 4677 level( on 60 min chart) during intraday.This down move has potential to re-test 4639.

Nifty Outlook for 24th November 2011

2011-11-24T09:09:00.000+05:30

Nifty Outlook for 24th November 2011

Today's Key Intraday support and resistance level 4664 & 4748. Hourly Support and resistance level : 4677 & 4711

Yesterday Nifty failed to get past 4813 & 4854 and there was capitulation below 4763.Nifty made new 52wk low. Though the fall was arrested in last 2 hours,there is an extreme panic on the street and pullback rallies are evasive and feeble.Key hourly level for today's trading session would be 4677 & 4711.Hourly chart suggests that failure of nifty to sustain above 4677 will trigger the sell off towards yesterday's low. of 4640.Flip side of this trade would be a move above 4711 on hourly chart.This move has potential to take Nifty towards 4748 & expiry short covering can further fuel the pull back rally to 4779.

Nifty Outlook for 23rd November 2011

2011-11-23T09:14:00.000+05:30

Nifty Outlook for 23rd November 2011

Today's Key Intraday support and resistance level 4741 & 4854. Hourly Support and resistance level : 4763 & 4813

Yesterday Nifty attempted for pullback rally after crossing 4813 on hourly chart.Nifty failed to close above 4854,Intraday high for the day was 4854.Nifty retraced from day's high to close at 4812.Today's key hourly support level is 4763. After weak opening,Nifty may again attempt to cross 4854.

RSI (Market is extremely oversold) & excess of fear in the system will be the catalyst for a relief rally.Confirmation of Relief rally would be -Nifty upmove above 4813 on hourly chart,crossing of 4854 on EOD basis & then taking out 4887.This relief rally could terminate around 4887 or 4938. Flip side of this trade,the relief rally may fizzle out below 4763.Our view was that failure of Nifty to close above 4854 will create an opportunity for short trade with probable target of 52wk low.

Nifty Outlook for 22nd November 2011

2011-11-22T09:10:00.002+05:30

Nifty Outlook for 22nd November 2011
Today's Key Intraday support and resistance level 4741 & 4854. Hourly Support and resistance level : 4763 & 4813

RSI (Market is extremely oversold) & excess of fear in the system will be the catalyst for a relief rally.Confirmation of Relief rally would be -Nifty upmove above 4813 on hourly chart,crossing of 4854 on EOD basis & then taking out 4887.This relief rally could terminate around 4887 or 4938. Flip side of this trade,the relief rally may fizzle out below yesterday's low.Nifty made low of 4763.Our view was that failure of Nifty to get past 4854 on hourly chart will create an opportunity for short trade with probable target of 52wk low.Nifty made day's low of 4763(against 52wk of 4720).

Nifty Outlook for 21st November 2011

2011-11-21T09:04:00.000+05:30

Nifty Outlook for 21st November 2011

Today's Key Intraday support and resistance level 4854 & 4974 Hourly Support and resistance level : 4887 & 4938

On Friday,Nifty took support around 4854(low 4838) level and made a minor pull back attempt.The level of 4854 would now act as a support level on closing basis.4887 will be a key trigger level for closing of shorts on intraday basis.With expiry round the corner,the short covering can take nifty towards 4970 level.Flip side of this trade would be decisive break below 4854 on closing basis.This down move has potential to re-test the 52wk low on Nifty.

Nifty Outlook for 18th November 2011

2011-11-18T09:11:00.000+05:30

Nifty Outlook for 18th November 2011

Today's Key Intraday support and resistance level 4854 & 4974 Hourly Support and resistance level : 4887 & 4938

Yesterday,Nifty failed to get past the resistance of 5027 on hourly chart .Nifty collapsed to 4970 and thereafter the margin calls were responsible for the panic sell off to 4919.Fall from 4970 was overdone and not anticipated by us.Today's key hourly level 4887 and 4938.Nifty sustaining level of 4887 will increase probability of some sort of pullback rally during the day.Short covering trigger level is 4938.We maintain our earlier view that any rally is an opportunity to create shorts.Nifty is sell on rise until 5169 is taken out decisively on closing basis.

Nifty failed to cross 5334(closing basis) on 4th Nov 2011. Intraday high on 4th Nov was 5326,EOD closing on 4th Nov was 5284.Bulls made two more failed attempts on 8thNov & 9th Nov 2011.We have had mentioned on 4th of Nov that rally is deceptive.Rationale being ;low volumes,weak macros and SMR a key psychological indicator signaled Excess of Greed in the system.

Nifty Outlook for 17th November 2011

2011-11-17T08:59:00.000+05:30

Nifty Outlook for 17th November 2011

Today's Key Intraday support and resistance level : 4978 & 5086. Hourly Support and resistance level : 5027 & 5058

Nifty can reverse the trend and stage a technical bounce back should the level of 5027 hold on EOD & move above 5027 on hourly chart post gap down opening.Keltner Channel also indicates that Nifty may reverse from 4970-4990 zone after a probable Intraday panic.Sentiments are now bearish with two consecutive close below 5169 & 5086.On 4th of Nov, we have had mentioned that Failure of nifty to get past 5301,5315 and 5334 will trigger correction.SMR indicated that the upmove from 5169 to 5399 was deceptive.Nifty is sell on rise until 5169 is taken out decisively on closing basis.

Nifty Outlook for 16th November 2011

2011-11-16T09:10:00.001+05:30

Nifty Outlook for 16th November 2011

Today's Key Hourly support and resistance level : 5027 & 5086

Nifty can reverse the trend and stage a technical bounce back should the level of 5027 hold on EOD & hourly chart.Keltner Channel also indicates that Nifty may reverse from 4970-4990 after a probable Intraday panic that may happen today or tomorrow should the nifty violate level of 5027.Sentiments are now bearish with two consecutive close below 5169.Second bearish confirmation would be close below 5027(weekly) and possible breach of 4970 during intraday.On 4th of Nov, we have had mentioned that Failure of nifty to get past 5301,5315 and 5334 will trigger correction.SMR indicated that the upmove from 5169 to 5399 was deceptive.Nifty is sell on rise until 5169 is taken out decisively on closing basis.

Nifty Outlook for 15th November 2011

2011-11-15T09:00:00.000+05:30

Nifty Outlook for 15th November 2011

Today's Key Hourly support and resistance level : 5137 & 5174

30min/60 min Chart indicates that Nifty move above 5174 will give an upper hand to bulls and surprise traders by re-testing 5203 and 5224 .Nify sustaining below 5137 on hourly chart will open up possibility of 5115 & 5086.

Nifty Outlook for 14th November 2011

2011-11-14T09:08:00.000+05:30

Nifty Outlook for 14th November 2011

On friday,Nifty managed to close around 5169 level.5169 being pivot point would now act as a key support level on closing basis.5169 is also a multiple top of the previous trading range 4720-5169.Two consecutive close below 5169 will weaken the sentiments of the market towards bearish zone.

Today's Key Hourly support and resistance level : 5169 & 5224

30min/60 min Chart indicates that a move above 5197 will further propel Nifty towards 5224 & 5260.Flip side of this trade would be breach of 5186 level during intraday.On hourly chart the move below 5186 will open up the probability of re-testing 5169 and 5137.

Nifty Outlook for 11th November 2011

2011-11-11T08:40:00.003+05:30

Nifty Outlook for 11th November 2011

Nifty violated 5247 support level on 9th Nov,2011.We were of the view that failure of the nifty to get past 3 crucial resistances viz 5301(hourly),5315 & 5334(EOD closing) will trigger profit booking.Nifty is likely to open with a gap down on account of weak global cues.As long as Nifty sustains above 5149-5169 level on 30min/60min chart the bulls may make an attempt for an intraday recovery.

Today's Key Hourly support and resistance level : 5169 & 5239

30min/60 min Chart indicates that a move above 5239 will give an advantage to the bulls.The move above 5239 will trigger short covering.Flip side of this trade would be breach of 5149/5169 level.This will change sentiment from Buy on dips to Neutral.

Nifty Outlook for 9th November 2011

2011-11-09T09:07:00.002+05:30

Nifty Outlook for 9th November 2011

Last 3 sessions were choppy and yesterday too Nifty closed flat amid very low volumes.Nifty is trading within the range of 5250-5330.The violation of this range may happen in next 2 trading sessions and probability of breakout increases should the Nifty sustain above 5247.

Today's Key support and resistance level Intraday :5247 & 5334.

Hourly support & resistance: 5260 & 5301.Nifty faces 3 resistance on upside 5301,5315 and 5334.

30min/60 min Chart indicates that a move above 5334 will give an advantage to the bulls.Current trend will weaken below 5247(hourly chart) & 5203(EOD chart).

Trend Check - EOD Closing     Sentiment

EOD closing Below 5086     Bearish
EOD closing Below 5169     Neutral
EOD closing Above 5203     Buy on Dips
EOD closing Above 5334     Bullish - First confirmation
EOW closing Above 5362     Bullish -Second confirmation

Nifty Outlook for 8th November 2011

2011-11-08T08:39:00.002+05:30

Nifty Outlook for 8th November 2011

Today's Key support and resistance level Intraday :5247 & 5334

Hourly support & resistance: 5260 & 5301.Nifty faces 3 resistance on upside 5301,5315 and 5334.

30min/60 min Chart indicates that a move above 5334 will give an advantage to the bulls.Current trend will weaken below 5247(hourly chart) & 5203(EOD chart).

Trend Check - EOD closing level - Sentiment

EOD Below 5086 - Bearish
EOD Below 5170 - Neutral
EOD Above 5203 - Buy on Dips
EOD Above 5334 - Bullish

Nifty Outlook for 4th November 2011

2011-11-04T09:09:00.002+05:30

Nifty Outlook for 4th November 2011

Today's Key support and resistance level Intraday :5247 & 5334

Hourly support & resistance: 5260 & 5301.Nifty faces 3 resistance on upside 5301,5315 and 5334.Today being the last day of trading week the closing level will set the trend for the next week.On weekly chart Nifty is forming higher top & higher bottom pattern & close above 5362 will keep this pattern intact.Nifty's failure to get past the hourly resistance of 5301 will trigger selling pressure,5247 is key support level on downside.

Trend Check - EOD closing level - Sentiment

EOD Below 5086 - Bearish
EOD Below 5170 - Neutral
EOD Above 5203 - Buy on Dips
EOD Above 5334 - Bullish

Nifty Outlook for 3rd November 2011

2011-11-03T09:03:00.002+05:30

Nifty Outlook for 3rd November 2011

Today's Key support and resistance level Intraday :5203 & 5301.

Hourly support & resistance: 5229 & 5260

Nifty sustaining above 5247 on 60 min chart will create an opportunity to go long during intraday.Bulls may attempt to get past 5301.Flip side of this trade would be a bearish trade below 5229(on 60 min chart) with potential down side target of 5203 & 5170.

SMR is moving towards Equilibrium and this will coincide with nifty stabilizing with a new trading range.

Trend Check - EOD closing level - Sentiment

EOD Below 5170 - Neutral
EOD Below 5086 - Bearish
EOD Above 5203 - Buy on Dips

Nifty Outlook for 2nd November 2011

2011-11-02T09:01:00.000+05:30

Nifty Outlook for 2nd November 2011

Today's Key support and resistance level post gap down opening : 5203 & 5301.SMR,the psychological indicator was signalling deceptive move in the market and we were of the view that lack of volumes coupled with excessive greed will lead market lower.Nifty level of 5378 was never breached on upside and remains an elusive level for time being.Post Gap down,should nifty stabilize and sustain above 5203,there is high probability of intraday recovery towards 5260.Flip side of this trade would be panic sell off below 5170.

SMR is moving towards Equilibrium and this will coincide with nifty stabilizing with a new trading range.

Trend Check - EOD closing level - Sentiment

EOD Below 5170 - Neutral
EOD Below 5086 - Bearish
EOD Above 5203 - Buy on Dips

Nifty Outlook for 1st November 2011

2011-11-01T09:01:00.000+05:30

Nifty Outlook for 1st November 2011

Today's Key support and resistance level : 5301 and 5364/5378.For today's session,watch out for 5301 on downside.30 mins/60 mins chart indicates that a move below 5301 will trigger profit booking with a downside risk upto 5260 level.Recovery in market can be seen above 5334 level on 30/60 min charts.Bulls may attempt for 5364/5378 should the level of 5334 hold on hourly chart.Failure to sustain 5334 will lead to another choppy trading session.

Nifty Outlook for 31st October 2011

2011-10-31T09:01:00.000+05:30

Nifty Outlook for 31st October 2011

Today' Key support and resistance level : 5332 and 5378.Friday's session was exactly as per our anticipation.We have had mentioned during the 1st week of OCT,that a powerful bear rally above 4865 will result into Nifty breaking out of the trading range 4740-5169.Further,a buying panic above 5169 ( two consecutive close) will fill the gap at 5340-5378.Nifty closed above 5169 on 25th and 26th of Oct 2011.The friday's trading session (28th Oct 2011),sealed the fate of the bears with a huge gap up opening @ 5399.

For today's session,watch out for 5332 on downside.Hourly chart indicates that a move below 5332 will trigger profit booking with a down move towards 5301 & 5264.Much bigger fall anticipated should the Nifty take out 5301 on hourly chart.5378/5384 strong resistance on hourly chart,crossing this hurdle will trigger up move towards 5435.

Recall Last few days - Nifty outlook

On 4th oct ,amidst the gloom and doom,we at acestocktips came out with a view that Nifty will have short squeeze rally above 4865 and panic buying above 5169 will result into nifty rallying towards 5340-5378.This move from 4865 to 5300+ is similar to 2007 Nov rally albeit with a difference,the liquidity is missing.Euro solution is not a long term and underlying problems remain unsolved.For short term,the world markets will remain buoyant.

Recall Nifty outlook of the past week

Nifty Outlook for 18th October 2011

Trading volumes were very low and we were of the view that the friday's move was deceptive.We also gave a forewarning that SMR is indicating that the rally is deceptive.However ,all is not lost for the bulls,and there will be one more attempt to take out 5169 during this week or before end of this month.Current pullback rally will weaken below 5015 & 4968.Shorts will make re-entry in the system below 4968.

Confirmation of new trading zones - Two consecutive close above 5169 ( double top).

On 4th of Oct ,we said with conviction that Nifty will not form new 52 wk low for time being,rather there will be a short squeeze rally above 4865 level.The new trading zones of nifty are not yet defined as long as nifty stays below 5169 on weekly charts,the trading range in near short term is 4740-5169.

Panic buying above 5169 - Though its too early to anticipate this move but there is high probability of Nifty rallying towards 5340-5378 level in the event Nifty manages to close above 5169 on weekly basis.The gap will be filled in this leg of upmove.Monthly box chart levels too indicate this upmove.However we would like to reiterate that trading condition for this upmove is Nifty's weekly closing above 5169 level/two consecutive close above 5169.

Nifty Outlook for 28th October 2011

2011-10-28T08:47:00.002+05:30

Nifty Outlook for 28th October 2011

Today' Key support and resistance level post gap up opening : 5288 and 5315. Euro outcome has propelled the world market and Nifty is likely to open gap up.On 4th oct ,amidst the gloom and doom,we at acestocktips came out with a view that Nifty will have short squeeze rally above 4865 and panic buying above 5169 will result into nifty rallying towards 5340-5378.This move from 4865 to 5300+ is similar to 2007 Nov rally albeit with a difference,the liquidity is missing.Euro solution is not a long term and underlying problems remain unsolved.For short term,the world markets will remain buoyant.

Nifty Outlook for 25th October 2011

2011-10-25T09:14:00.002+05:30

Nifty Outlook for 25th October 2011

Today's Key support level and resistance level : 5086 & 5125.RBI's meet the key event.Nifty sustaining above 5125 on 30 mins chart will open up the possibility of 5169 and 5192.Favorable RBI policy may propel the nifty towards 5192.The flip side of this trade would be a bearish move below 5086 on hourly chart.This down move will re-test the friday's low of 5033.

Nifty Outlook for 24th October 2011

2011-10-24T08:47:00.000+05:30

Nifty Outlook for 24th October 2011

Today's Key support level and resistance level : 5086 & 5125.Friday,Nifty sold off below 5086 level and closed @ 5049.Gap up opening is expected due to positive global cues.Post gap up opening,Nifty sustaining above 5103 on 30 mins chart will open up the possibility of 5125 and 5169.The flip side of this trade would be a bearish move below 5086 on hourly chart.This down move will re-test the friday's low.

Nifty Outlook for 21st October 2011

2011-10-21T09:03:00.002+05:30

Nifty Outlook for 21st October 2011

Today's Key support level and resistance level : 5086 & 5125.Yesterday,Nifty recovered from the day's low -5033/5042 and closed above 5086.Nifty sustaining above 5103 on 30 mins chart will open up the possibility of 5125 and 5169.The flip side of this trade would be a bearish move below 5086 on hourly chart.

Nifty Outlook for 20th October 2011

2011-10-20T08:41:00.000+05:30

Nifty Outlook for 20th October 2011

Today's Key support level and resistance level : 5086 & 5169.On Tue,18th of oct,we were of the view that bulls will make one more attempt to take out 5169 if 5015 and 4968 are intact on closing basis.Yesterday, nifty rallied by 100+ points and made an intraday high of 5148.With weak global cues,bulls will be on back foot in today's trading session but there is a possibility of a surprise bounce back or recovery as long as level of 5086 is intact on hourly chart.

Recall our 18th Oct 2011,Nifty outlook

Nifty Outlook for 18th October 2011

Trading volumes were very low and we were of the view that the friday's move was deceptive.We also gave a forewarning that SMR is indicating that the rally is deceptive.However ,all is not lost for the bulls,and there will be one more attempt to take out 5169 during this week or before end of this month.Current pullback rally will weaken below 5015 & 4968.Shorts will make re-entry in the system below 4968.

Nifty Outlook for 19th October 2011

2011-10-19T08:49:00.001+05:30

Nifty Outlook for 19th October 2011

Today's Key support level and resistance level : 5015 & 5086.Move below 5015 on hourly chart will favor bears and downside move could be as low as 4970.Bulls will be in action should nifty move above 5062 on 15 min/30 min chart.The upside potential of this move could be 5090/5125.

Nifty Outlook for 18th October 2011

2011-10-18T09:04:00.002+05:30

Nifty Outlook for 18th October 2011

Today's Key support level and resistance level post gap down : 5046 & 5125.Yesterday,trading volumes were very low and we were of the view that the friday's move was deceptive.We also gave a forewarning that SMR is indicating that the rally is deceptive.However ,all is not lost for the bulls,and there will be one more attempt to take out 5169 during this week or before end of this month.Current pullback rally will weaken below 5015 & 4968.Shorts will make re-entry in the system below 4968.

Recovery can be expected during intraday should the level of 5046 hold firmly on hourly chart.Major downside risk opens up below 5015 and 4968.

Nifty Outlook for 17th October 2011

2011-10-17T08:55:00.002+05:30

Nifty Outlook for 17th October 2011

Today's Key support level and resistance level : 5086 & 5192.Nifty sustaining above 5125 on hourly chart will trigger short squeeze intraday rally towards 5192.Flip side of this trade would be breach of 5107 on hourly chart.

Nifty Outlook for 14th October 2011

2011-10-14T09:05:00.000+05:30

Nifty Outlook for 14th October 2011

Today's Key support level and resistance level : 5043 & 5125.Today's weekly closing will set the tone for the expiry and rest of the oct month.On hourly chart 3 resistances are 5084,5116 and 5125.With 5125 being a major resistance level.Intraday move below yesterday's low ( 5067) on 30min/60 min charts will create an opportunity for Intraday traders on short side.This move can take nifty all the way to 5015.

Trade setup for today's entry points (15mins/30mins/60mins) :

5015(PS/EI)) 5043 (IS2) 5067(IS1) 5077(TP) 5084(TP2) 5116(IL1) 5125(IL2) 5159(PL/EI)

On 4th of Oct ,we said with conviction that Nifty will not form new 52 wk low for time being,rather there will be a short squeeze rally above 4865 level.The new trading zones of nifty are not yet defined as long as nifty stays below 5169 on weekly charts,the trading range in near short term is 4740-5169.

Panic buying above 5169 - Though its too early to anticipate this move but there is high probability of Nifty rallying towards 5340-5378 level in the event Nifty manages to close above 5169 on weekly basis.The gap will be filled in this leg of upmove.Monthly box chart levels too indicate this upmove.However we would like to reiterate that trading condition for this upmove is Nifty's weekly closing above 5169 level.

Trading range - 4740-5160 : Rallies of September were short lived, futile and were more of short covering rather than fresh buying.On daily charts 5169 is double top and until nifty closes above 5169 on weekly basis,there is no case for the bulls to be over optimistic.Nifty's trading range for short term is seen between 4740-5160.

Nifty Outlook for 13th October 2011

2011-10-13T09:12:00.002+05:30

Nifty Outlook for 13th October 2011

Today's Key support level and resistance level : 5086 & 5125. Yesterday, we have had mentioned in our nifty outlook that above 5032,Nifty will zoom to 5070.On 4th of Oct ,we said with conviction that Nifty will not form new 52 wk low for time being,rather there will be a short squeeze rally above 4865 level.The new trading zones of nifty are not yet defined as long as nifty stays below 5169 on weekly charts,the trading range in near short term is 4740-5169.

Panic buying above 5169 - Though its too early to anticipate this move but there is high probability of Nifty rallying towards 5340-5378 level in the event Nifty manages to close above 5169 on weekly basis.The gap will be filled in this leg of upmove.Monthly box chart levels too indicate this upmove.However we would like to reiterate that trading condition for this upmove is Nifty's weekly closing above 5169 level.

Trading range - 4740-5160 : Rallies of September were short lived, futile and were more of short covering rather than fresh buying.On daily charts 5169 is double top and until nifty closes above 5169 on weekly basis,there is no case for the bulls to be over optimistic.Nifty's trading range for short term is seen between 4740-5160.

Nifty Outlook for 12th October 2011

2011-10-12T09:05:00.000+05:30

Nifty Outlook for 12th October 2011

Today's Key support level and resistance level : 4937 & 5032.On hourly chart,should nifty sustain above 5032,expect rally upto 5060/5070.The flip side of this trade would be bearish intraday trade below 4968 with price target of 4930/4910.

Nifty Outlook for 11th October 2011

2011-10-11T08:59:00.000+05:30

Nifty Outlook for 11th October 2011

Today's Key support level and resistance level : 4968 & 5032.On hourly chart,Nifty trend will remain bullish above 5032 with likely intraday target of 5070/5080.Bears will be active below 4968 closing.Apply caution at higher levels.

In Tuesday's Nifty outlook,we said that at the end of the week(7th Oct,2011),Nifty will rally and trigger point for that rally would be Nifty upmove above 4865 on hourly chart,we also mentioned that Nifty will not form new 52wk low as of now and very near term range of nifty is seen between 4740-5160.

Rallies of September were short lived, futile and were more of short covering rather than fresh buying.On daily charts 5169 is double top and until nifty closes above 5169 on weekly basis,there is no case for the bulls to be over optimistic.Nifty's trading range for short term is seen between 4740-5160.

Nifty Outlook for 10th October 2011

2011-10-10T09:06:00.000+05:30

Nifty Outlook for 10th October 2011

Today's Key support level and resistance level : 4859 & 4919.In Tuesday's Nifty outlook,we said that at the end of the week,Nifty will rally and trigger point for that rally would be 4865 on hourly chart,we also mentioned that Nifty will not form new 52wk as of now and very near term range of nifty is seen between 4740-5160.Today watch out for 4919 level on hourly chart,a bullish trade is seen above 4919 level with target of 4950/4960,flip side of this trade would be ; bearish trade below 4853.

Rallies of September were short lived, futile and were more of short covering rather than fresh buying.On daily charts 5169 is double top and until nifty closes above 5169 on weekly basis,there is no case for the bulls to be over optimistic. Nifty's trading range for short term is seen between 4740-5160.

Nifty Outlook for 7th October 2011

2011-10-07T08:57:00.002+05:30

Nifty Outlook for 7th October 2011

Today's Key support level and resistance level : 4724 & 4805.On hourly chart, Nifty move above 4805 can propel the Index towards 4865 and 4894.

Rallies of September were short lived, futile and were more of short covering rather than fresh buying.On daily charts 5169 is double top and until nifty closes above 5169 on weekly basis,there is no case for the bulls to be over optimistic.Nifty's trading range for short term is seen between 4740-5160.

Nifty Outlook for 4th October 2011

2011-10-04T08:40:00.000+05:30

Nifty Outlook for 4th October 2011

Today's Key support level and resistance level : 4824 & 4865.On hourly chart,4824 will be trigger point for new shorts,a down move below 4824 can lead nifty to 4795,however there is no confirmation of big downswing as of now and we may see some technical bounce in this week.Trigger point for this bear rally would be move above 4865 on hourly chart,with Nifty target of 4913/4968.

Nifty Outlook for 3rd October 2011

2011-10-03T08:19:00.000+05:30

Nifty Outlook for 3rd October 2011
Today's Key support level and resistance level : 4887 & 4968.Nifty can recover intraday above 4913 level on hourly chart and outperform the global markets.This recovery can take Nifty towards 4968.Flip side of this trade would be second round of selling post gap down opening,on hourly chart this translates to breaking of 4887 level on hourly chart.

Rallies of September were short lived, futile and were more of short covering rather than fresh buying.On daily charts 5169 is double top and until nifty closes above 5169 on weekly basis,there is no case for the bulls to be over optimistic.Nifty's trading range for short term is seen between 4740-5160.

Nifty Outlook for 30th September 2011

2011-09-30T09:14:00.002+05:30

Nifty Outlook for 30th September 2011

Yesterday Nifty rallied on account of short covering and trigger point was 4968.We have had mentioned in nifty outlook that nifty's move above 4968 will give an intraday advantage to bulls.Now these rallies are short lived, futile and are more of short covering rather than fresh buying.On daily charts 5169 is double top and until nifty closes above 5169 on weekly basis,there is no case for the bulls to be over optimistic.Nifty's trading range for short term is seen between 4740-5160.

Today's key support level on hourly chart is 4992,Nifty will give a bearish signal below this level with target of 4968.Below 4968 panic will be seen.Flip side of this trade would be a recovery move above 5032 level.

Nifty Outlook for 29th September 2011

2011-09-29T09:09:00.002+05:30

Nifty Outlook for 29th September 2011

Today's key support and resistance level : 4913 and 4968.Volume move below 4913 on hourly chart will signal an intraday bearish trend and Nifty target of 4880.Flip side of this trade would be a bullish intraday trade above 4968 on hourly chart.This move will result into short covering and possible Nifty target of 4992.

Nifty Outlook for 26th September 2011

2011-09-27T09:14:00.000+05:30

Nifty Outlook for 26th September 2011

Today's Intraday support & resistance level post gap up opening : 4858 & 4913. Post gap up opening should Nifty sustain above 4913,then 50-55 points intraday rally is a possibility. Nifty's Intraday trend will turn bearish below 4858 level.

Nifty Outlook for 26th September 2011

2011-09-26T08:45:00.000+05:30

Nifty Outlook for 26th September 2011

Today's Intraday support & resistance level : 4824 & 4913.Extreme panic and bearish sentiments will peg back the bulls at every rise. Significant recovery of 50-55 points may happen should Nifty trade above 4913 level on hourly chart.Flip side of the trade would be failure of nifty to hold on to its Friday's low on hourly chart will result into Nifty slipping below 4780 level during intraday.

Nifty Outlook for 23rd September 2011

2011-09-23T08:55:00.002+05:30

Nifty Outlook for 23rd September 2011

Today's Intraday support & resistance level : 4878 & 4968. Yesterday Nifty crashed after breaking 5019 support level.In our nifty outlook for 21st Sep we mentioned that Nifty will see selling pressure below 5166 and 5086.Nifty crashed by 240 points in last 2 trading sessions. Some key Index stocks like RIL,Infosys and ICICI BANK had vertical fall in last hour of yesterday's trading session.ACE Box Chart levels gave an extremely bearish signal on hourly,daily and weekly time frame and stocks cracked by 4-6%.Last week's rally was distribution rally and volume data clearly indicated this trend.We gave forewarning that after the distribution,bears will create fresh shorts below 5166 and 5086.

Nifty Outlook for 22nd September 2011

2011-09-22T09:13:00.000+05:30

Nifty Outlook for 22nd September 2011

Today's Intraday support & resistance level post gap down opening : 5019 & 5086.For the second time in this month,5166 proved to be strong resistance zone.In our market outlook for 21st Sep 2011,we anticipated that nifty will face strong resistance and supply pressure around these levels ( 5166).With weak global cues,Nifty will open gap down.5019 is crucial support level post gap down opening.Recovery during intraday will happen should Nifty trade above 5064/5077 on 15 min chart.

Nifty Outlook for 21st September 2011

2011-09-21T09:11:00.000+05:30

Nifty Outlook for 21st September 2011

Today's Intraday support & resistance level : 5107 & 5166.Yesterday Nifty made two phase move,first from 5045 to 5086 and thereafter, from 5086 to 5140.Some key Index stocks like RIL,Infosys and ICICI BANK helped the Nifty to move substantially higher to 5140.ACE weekly Box Chart levels also indicated 2.5-3.5% gain in Nifty,Reliance,Infosys & ICICI BANK.

On hourly chart as long as Nifty stays above 5086 bulls will have an upperhand.US FED meet is eyed and next couple of days will hold the key.Shorts squeeze may happen if US FED signals QE.Flip side of this trade,would be Nifty move below 5086 on hourly chart/closing basis.This move would bring back bears with fresh shorts.

Nifty Outlook for 20th September 2011

2011-09-20T09:08:00.000+05:30

Nifty Outlook for 20th September 2011

Today's Intraday support & resistance level : 5019 & 5045.Nifty closed below 20EMA(5045) and this level will now act as a resistance level or trigger level for today's Intraday move.On hourly chart Nifty move above 5045 is seen as an opportunity for long intraday trade with 35-40 points upmove.The flip side of this trade; Move below 5019 on hourly chart will intensify the selling pressure and new shorts will be initiated.

Nifty Outlook for 19th September 2011

2011-09-19T08:32:00.000+05:30

Nifty Outlook for 19th September 2011

Today's Intraday support & resistance level : 5067 & 5119.Hourly chart indicates big move and definite trend below 5067(advantage bears) and above 5119(advantage bulls).

Nifty Outlook for 16th September 2011

2011-09-16T09:00:00.002+05:30

Nifty Outlook for 16th September 2011

Today's Intraday support & resistance level : 5054 & 5119.Nifty will be very volatile on account of RBI policy.There is consensus among market participants that RBI may hike rates by 25 bps,however RBI has a history of surprising the market and this time around RBI may give positive surprise by not hiking the rates or adopting the dovish stance by signalling the end of rate hike cycle,after the final hike of 25 bps.A very low probability outcome - Should RBI hike rate by 50 bps,market will see significant profit booking and nifty may go as low as 4940.On hourly charts,Nifty move below 5054 will favor the bears while move above 5119 will favor the bulls.5086(on closing basis) still remains elusive for the bulls and whipsaws will be seen on both the long and short trades.

Nifty Outlook for 15th September 2011

2011-09-15T09:06:00.000+05:30

Nifty Outlook for 15th September 2011

Today's Intraday support & resistance level : 4977 & 5027.Nifty will be very volatile with RBI policy due tomorrow.There is consensus among market participants that RBI may hike rates by 25 bps,however RBI has a history of surprising the market and this time around RBI may give positive surprise by not hiking the rates or adopting the dovish stance by signalling the end of rate hike cycle,after the final hike of 25 bps.On hourly charts,Nifty move below 4977 will favor the bears while move above 5027 will favor the bulls.5086(on closing basis) still remains elusive for the bulls and whipsaws will be seen on both the long and short trades.

Nifty Outlook for 14th September 2011

2011-09-14T09:09:00.000+05:30

Nifty Outlook for 14th September 2011

Today's Intraday support & resistance level : 4924 & 4967.Nifty will run into supply zone from 4967-5027 range.Yesterday,Nifty rallied in the morning session after crossing the hourly resistance of 4983 and topped out at 5029 level.The supply pressure at higher level resulted into 100 points drop by EOD.Nifty breaking the low of 4911 on hourly chart will create panic sell off in market.Shorts will not be covered unless nifty manages to break past 5027 on closing basis.

On friday we mentioned in our nifty outlook that current pullback rally that was initiated from 4747 will top out around 5166 level and in two sessions ( Friday and monday) Nifty crashed from 5169 to 4947

Nifty Outlook for 13th September 2011

2011-09-13T09:06:00.000+05:30

Nifty Outlook for 13th September 2011

On friday we mentioned in our nifty outlook that current pullback rally that was initiated from 4747 will top out around 5166 level and in two sessions ( Friday and monday) Nifty crashed from 5169 to 4947

Today's Intraday support & resistance level : 4983 & 4924.On hourly chart a move above 4983 will trigger short covering and this can be a prelude to the anticipation that RBI may pause the rate hike or that RBI may adopt dovish stance post the final rate hike on 16th Sep.The volumes will be lead by FIIs and Nifty sustaining above 4983 on hour chart may see bulls take center stage,with upside target seen around 5026.The flip side of this move;Nifty slipping below 4924 on hourly chart will give an upper hand to bears and fresh shorts will be further added to the system that may take nifty to 4873.

Nifty Outlook for 12th September 2011

2011-09-12T09:03:00.000+05:30

Nifty Outlook for 12th September 2011

On friday ( and even on Thursday) we mentioned in our nifty outlook that current pullback rally that was initiated from 4747 will top out around 5166 level and during friday's trading session Nifty crashed from 5169 level.

Today's Intraday support & resistance level post gap down opening : 4965 & 5029.Intraday recovery can happen should Nifty trade above 5001 on hourly chart until then the shorts will be created in the system and that will peg back the bulls.