Sensex up 118 pts at 27324, Nifty ends up 0.3% and
38.15 points at 8262. Indian equity
ended the Friday’s session with a gain of around half a percent as investors
remained hopeful of Reserve Bank of India slashing the key policy rate to fuel
investments and propel growth. Markets, after a cautious start, gained and
traded mostly in the green terrain throughout the session and
hold their crucial levels Sensex 27,300 and Nifty 8250.On a day
marked by volatility, stock market closed higher, led by gains in financial
scrips, on hopes that the Reserve Bank of India would cut interest rates on or
before its monetary policy.
Trading analysis for Nifty future:
Nifty closed on a slight negative note at 8224 level. So on upside first
resistance is at 8296-99 level. Next resistance are Nifty is in still bearish
zone but a strong move above 8296 is good for bulls and on downside if below
8179 be very alert and avoid all longs Have a look at weekly trend. We have seen reversal in RSI which could further
push Nifty upwards. Nifty has recently made a
low which would again take it to all time high levels as it has done
earlier. Technically Nifty future is looking bullish on long term charts, it
may trade in range of 8500 and 8700 in near term while with the breaks of its
support mark of 8416, Although the ongoing correction in Nifty also may looks
sharp, Nifty should find a bottom in the 8,000-7750 range and start rallying
again. You can buy nifty positional for a target of 8800 with a stop loss of 7800.
ABOVE 8416 IT IS BULLS AREA,
BULLS CAN MOVE TOWARDS 8500 AND 8700
BEARS ARE ALSO CAN BE ACTIVE,
BELOW 8100 BEARS HAVE TARGET AT 8000 AND AT 7750,
CANDLESTICK PATTERN BEARISH TRI STAR The pattern is a sequence of three Doji. The occurrence of this pattern is extremely rare, so when it occurs it should not be ignored. The Bearish Three Star consists of three consecutive Doji, in which the second Doji gaps above the two other Doji. It is sufficient that the gap is a body gap. There is no need for a gap between shadows.
Recognition Criteria
ABOVE 8416 IT IS BULLS AREA,
BULLS CAN MOVE TOWARDS 8500 AND 8700
BEARS ARE ALSO CAN BE ACTIVE,
BELOW 8100 BEARS HAVE TARGET AT 8000 AND AT 7750,
CANDLESTICK PATTERN BEARISH TRI STAR The pattern is a sequence of three Doji. The occurrence of this pattern is extremely rare, so when it occurs it should not be ignored. The Bearish Three Star consists of three consecutive Doji, in which the second Doji gaps above the two other Doji. It is sufficient that the gap is a body gap. There is no need for a gap between shadows.
Recognition Criteria
1.The market is
characterized by a prevailing uptrend.
2. Three consecutive Doji are seen.
3. The second day gaps above the first and the third.
POSITIONAL RESISTANCE: 8252 8314 8416 8477
POSITIONAL SUPPORT: 8025,7751
INTRADAY RESISTANCE: 8296,8333,8410,8487
INTRADAY SUPPORT: 8219,8179,8102,8025
WEEKLY RESISTANCE: 8363,8489,8749,9009
WEEKLY SUPPORT: 8219,7969,7709,7450
2. Three consecutive Doji are seen.
3. The second day gaps above the first and the third.
POSITIONAL RESISTANCE: 8252 8314 8416 8477
POSITIONAL SUPPORT: 8025,7751
INTRADAY RESISTANCE: 8296,8333,8410,8487
INTRADAY SUPPORT: 8219,8179,8102,8025
WEEKLY RESISTANCE: 8363,8489,8749,9009
WEEKLY SUPPORT: 8219,7969,7709,7450
really great chart & news updates......Keep it up
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