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Nifty Outlook for 01 December 2011 The Nifty opened lower and within the first few minutes of trade it found support near the previous breakout level and 50% retracement level of the last four day’s rise. It rallied 100 points from the day’s low. However, it faced resistance near the previous day’s high and pared [...]
Nifty Outlook for 30 November 2011 On Tuesday, the Nifty ended with losses. Intraday it tested low of 4,787 and finally ended the day with a loss of 46 points at 4,805. Nifty opened near day’s high and profit booking was witnessed after 3% rise in previous session. Going forward, the Nifty could face resistance [...]
Nifty Outlook for 29 November 2011 The Nifty staged a smart pullback rally after witnessing significant losses last week. The Nifty finally ended with a gain of 141 points, or 3%, at 4,851.30. On daily charts, Nifty was making lower high highs from the past nine trading session. On Monday, it opened near the previous [...]
Nifty Outlook for 28 November 2011 The Nifty continued its losing streak for the fourth straight week. The Nifty registered a fresh two-year low at 4,639 – down 264 points for the week. It witnessed some recovery towards the end of the week, and finished with a loss of 196 points at 4,710. The bias [...]
Nifty Outlook for 25 November 2011 On Thursday, the Nifty managed to stage a smart bounce back and recovered around 122 points from its intraday low. On daily charts, it formed a Tweezer bottom bullish reversal candlestick pattern post a steep fall, signaling a near-term bottom is in place. Pull-back is likely to continue in [...]
Nifty Outlook for 24 November 2011 The Nifty opened below the previous day’s low in a shaven top (open and high was same for the day) candlestick formation, indicating weakness from the start of the day. Selling pressure intensified in later part of the day when it breached the low (4,720) made in Aug 2011. [...]
Nifty Outlook for 23 November 2011 The Nifty managed to arrest its 10 sessions sell off and gained close to 72 points during intraday trades. However, it failed to sustain these gains and erased 42 points from the day’s high. The Nifty ended up 34 points high at 4,812. On daily charts, it ended in [...]
Nifty Outlook for 22 November 2011 The Nifty opened lower and failed to cross the high of the hammer. On the other side, sharp selling pressure was witnessed when it violated the low (4,837) of the Hammer. It ended the day 127 points, or 2.60 %, lower at 4,778. On daily charts, RSI is approaching [...]
Nifty Outlook for 21 November 2011 On Friday, the Nifty recovered from the day’s low (4,837) as buying was witnessed near the support levels. On daily charts, it ended in a “Hammer” candlestick formation after a steady decline, indicating pull-back to continue in the near-term. Also, on hourly chart, MACD line has crossed the signal [...]
Nifty Outlook for 18 November 2011 The Nifty traded in a sideways pattern for the most part of the day. It failed to surpass the high of the Hammer (5,060). On the other side, immense selling pressure was witnessed when it breached the low of hammer (4,989). It posted the low of 4,919 during the [...]
