DAILY RESISTANCE FOR NIFTY: 8521, 8555,8647,8739
PIVOT POINT: 8463
DAILY SUPPORT FOR NIFTY : 8429, 8371, 8279,8187
DAILY CHAT FOR NIFTY:
DAILY SUPPORT FOR NIFTY : 8429, 8371, 8279,8187
DAILY CHAT FOR NIFTY:
WEEKLY RESISTANCE FOR NIFTY: 8593, 8698,9004,9130
PIVOT POINT: 8392
WEEKLY SUPPORT FOR NIFTY : 8287, 8086, 7780,7474
WEEKLY CHAT FOR NIFTY:
WEEKLY SUPPORT FOR NIFTY : 8287, 8086, 7780,7474
WEEKLY CHAT FOR NIFTY:
Sensex rose by 147 points to again rally past 28,000-mark. Nifty surged 40 points or 0.47 per cent to close at 8,484 after hovering between 8,497 and 8424 during the session. sensex After a hesitant start, it recouped the 28,000-mark to hit the day's high of 28,135. before settling at 28,092, showing a recovery of 147 points or 0.53 per cent.Indian shares hit their highest in 2-1/2 months on Friday and posted their third consecutive weekly gain given a Greece default is seen as factored in, while better-than-expected progress of the monsoon also helped sentiment.
Weekly chart shows price trying to move out of the bearish
pattern. Price has managed to close above 20 Week DMA. But daily chart shows
price yet to move above 8500 levels which is a crucial resistance zone.
nifty index was nearly touch a psychological levels of 8,500 made high of 8496 . We need a break out above this zone or a breakdown below this zone for a directional move. In the event of market getting past firmly above 8496 then we can expect at least a test of 8526 or even higher if not close to or around the 8600-zone. On the downside, unless the index falls decisively below 8418 level there would be no major threat as such or any vulnerability. Below 8418, the level to watch out for would be located at 8356.
nifty index was nearly touch a psychological levels of 8,500 made high of 8496 . We need a break out above this zone or a breakdown below this zone for a directional move. In the event of market getting past firmly above 8496 then we can expect at least a test of 8526 or even higher if not close to or around the 8600-zone. On the downside, unless the index falls decisively below 8418 level there would be no major threat as such or any vulnerability. Below 8418, the level to watch out for would be located at 8356.
ABOVE 8521 IT IS BULLS AREA
BULLS CAN MOVE TOWARDS 8600 AND 8700
BEARS ARE ALSO CAN BE ACTIVE
BELOW 8371 BEARS HAVE TARGET AT 8300 AND AT 8200
DAILY CANDLESTICK PATTERN BULLISH THREE WHITE SOLDIERS:
This pattern indicates a strong reversal in the market. It is characterized by three normal or long candlesticks incrementing upwards. The opening of each day is slightly lower than previous close and prices progressively close at higher levels. This staircase like behavior signals the reversal of the trend. The pattern appears in a context where the market stacked at a low price for too long. The market is still testing new lows and it is now approaching a bottom or already at the bottom. Then we see a decisive attempt upward whose evidence is the first white candlestick. Rally continues in the next two days characterized by higher closes. Bears are now forced to cover short positions.
BELOW 8371 BEARS HAVE TARGET AT 8300 AND AT 8200
DAILY CANDLESTICK PATTERN BULLISH THREE WHITE SOLDIERS:
This pattern indicates a strong reversal in the market. It is characterized by three normal or long candlesticks incrementing upwards. The opening of each day is slightly lower than previous close and prices progressively close at higher levels. This staircase like behavior signals the reversal of the trend. The pattern appears in a context where the market stacked at a low price for too long. The market is still testing new lows and it is now approaching a bottom or already at the bottom. Then we see a decisive attempt upward whose evidence is the first white candlestick. Rally continues in the next two days characterized by higher closes. Bears are now forced to cover short positions.
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