June 24, 2021
NIFTY EOD charts
- nifty closed 0.7% in positive at 15790
- AD was 2:3
- trend remains clearly up
- support 15500
- stiff resistance around 16000
- option data shows limited upside this week
Change in blog newsletter provider
Feedburner has informed me that they will be discontinuing the email newsletter service for all blogs.
I have accordingly signed up with follow.it
Sign up takes under less than a minute.
Visit https://follow.it/vfmdirect to subscribe
June 23, 2021
NIFTY EOD charts
- trend is up on daily charts
- today nifty closed 0.5% in negative at 15867
- AD was 1:2
- some loss of momentum seen
- after the big green candle of 21-JUN, markets should have moved faster up.
- this has not happened.
- in fact, we are seeing selling for past 2 days
- support 15500
June 21, 2021
NIFTY EOD charts
- nifty opened gap down around 15500 and closed 0.4% in positive at 15746
- price action of last 2 days shows tremendous support around 15500
- this level can now be considered as a good swing low
- trend remains firmly up.
June 18, 2021
NIFTY EOD charts
- nifty closed flat at 15683
- AD was 1:2
- intraday volatility was huge with a fall of 250 points followed by similar recovery
- markets reversed from 15400-15500 levels
- this was FEB 2021 peak and is now an important support
- break of this level anytime next 1-2 weeks will indicate trend reversal.
NIFTY intraday charts
5 min charts:
- highlighted range refers to prev day high low.
- open was a red bar near prev day high
- there were multiple sell signals at 15700 F and 15625 F
- these are marked as arrows
- buy signal was on close above 15600 F
- next week, 15750 F is an important resistance
- sustaining above this will be bullish
Intraday action is more clear on 3 min charts
- Hourly charts show why markets took support at 15450 spot
- this level was incidentally the top in FEB 2021
June 17, 2021
NIFTY intraday charts
- despite a gap down opening, nifty recovered smartly and rallied
Hourly chart:
- resistance was at previous day low 15770 F
- this was an area of a safe short trade
- another short trade was at 2nd arrow
- cover on trailing
- net close was 0.5% in negative at 15691 spot
- note support at 15500-15600 spot
- AD was 1:2
June 16, 2021
NIFTY intraday charts
- nifty closed 0.6% in negative at 15768 spot
- AD was 1:2
- prev day low provided support on open (15580 F)
- this level broke and later on provided resistance
- day's low 15770 F
- key levels for tomorrow are 15770-15580 F
- on hourly charts, next support is around 15600
June 14, 2021
NIFTY intraday charts
5 min:
- today nifty opened gap down and lost almost 200 points in 30 minutes
- recovery from 15600 levels was fast
- close was finally near prev day high ie. 15840 F
- AD was 4:5
June 13, 2021
June 10, 2021
NIFTY EOD charts
- nifty today closed 0.7% in positive at 15738
- AD was excellent at 3:1
- gains were substantial in nifty midcap and small cap indices
- overall structure is still bullish
- support around 15500
- resistance 16000
June 9, 2021
NIFTY EOD charts
- today nifty closed 0.70% in negative at 15635
- AD was 4:5
- note range compression in past few days
- volatility expansion happened today
- too early to know if this is a trend reversal
- immediate support at 15000-15300 range
- the sudden drop today is visible in intraday charts
Subscribe to:
Posts (Atom)