Month: June 2011

Nifty Future chart July Series :


Perspective
: The excessive bearishness which we saw when the market broke 5300 levels, still seem to be prevalent in the mind sets of traders despite a 500 point move from the lows.It is important to trade the market, not your view of the market.The McClellan is still at a comfortable 43 which would mean that upside possibilities remain.

Back Ground : We spoke about 5608 as resistance in our previous post.Old resistance became support yesterday.Yesterday the market scaled prime resistance 3 ( PR3) in June futures at 5650.

Chart Speak :

1) A failed auction (FA)at 5620.
2) The proper trade set-up would be to play the FA move out of the FA point of 5620 which gives a minimum of 70 points in one direction before waiting for a rebound move.
3) Target for the move will be 5698 and 5720 which is prime resistance 3 ( PR3) for today.
4) an auction above 5653 will keep the buyers in control all day.
5) Breakdown point for the day is 5586.

The above post is for purpose of education only. Similar charts are posted for the BN, LT, RIL, ICICI, TTM, SBIN everyday on our premium webiste http://www.vtrender-2.com/

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Nifty Road Map 01/07/11

Nifty Future chart June Series :

Perspective : With two days to go for the June settlement and global markets pre-occupied with Greece, it will be foolhardy to draw more longer term inferences from current market action.

We will continue to focus on the immediate short term. Our views are valid only for today’s session.

BackGround
: We spoke about 5558- 5563 as resistance to the day and 5501 as support yesterday. The markets made a high of 5558 and a low of 5491. The low of yesterday was the high from Friday which the market met before strong responsive buying emerged to take the market higher again.

Chart Speak
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1) A balanced profile where value was created in the value zone of Monday.
2) The proper trade set-up would be a break of value or range either side when the market finds balance in a 2 day range or more.
3) The POC at 5540 is important for the day bias today and longs would be safe above it.
4) Resistance will be at 5608 today.

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Nifty Road Map 29/06/11

Here’s a profile chart of the Nifty action of today.

We see :

– A strong open drive from 5444 to 5512
– A p shaped profile pointing to short covering in the market
– Minor selling at 5558

For tomorrow :

– Immediate support will be at 5501
– Resistance at 5558-5564
– Above 5564, NF can do 5594

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Nifty Road Map 28/06/11