NIFTY EOD Analysis as on 31st December 2010

Bias = Up
Support = 6020
Resistance = 6285
Holding since 21-12-2010.

NIFTY EOD Analysis as on 30th December 2010

Support = 5955
Resistance = 6100 [Closed @ 6101]
Holding since 21-12-2010.

NIFTY EOD Analysis as on 29th December 2010

Support = 5955
Resistance = 6100
Holding since 21-12-2010.

NIFTY EOD Analysis as on 28th December 2010

Support = 5930
Resistance = 6100
Holding since 21-12-2010.

NIFTY EOD Analysis as on 27th December 2010

Support = 5930
Resistance = 6100
Holding since 21-12-2010.

NIFTY EOD Analysis as on 24th December 2010

Support = 5930
Resistance = 6100

NIFTY EOD Analysis as on 23rd December 2010

Support = 5930
Resistance = 6100

NIFTY EOD Analysis as on 22nd December 2010

Support = 5930
Resistance = 6100

NIFTY EOD Analysis as on 21st December 2010

 Support = 5930
Resistance = 6100

NIFTY EOD Analysis as on 20th December 2010

NIFTY EOD Analysis as on 16th December 2010

NIFTY EOD Analysis as on 15th December 2010

My Mistakes during trading on 15th Dec 2010

1. Traded VIJAYABANK which was in downtrend on daily chart.
2. My Entry was at the resistance level (96.45) according to Fibonacci level on 1 min chart when i entered. Wrong Entry on my part.
3. I entered the trade without any confirmation.
4. I did not use Stop Loss Today.

 I should follow the following points so as to avoid repeating these mistakes in future:

1. Trade on the basis of trend. Watch the broader index.
2. Enter at support, Sell at Resistance.
3. Atleast use Volume or MA if you are using TA.
4. Please use Stop Loss on all future trades so as to minimise your loss.  

VIJAYABANK [EOD]

VIJAYABANK [2 Min]

NIFTY EOD Analysis as on 14th December 2010

NIFY EOD Analysis as on 10th December 2010

NIFY EOD Analysis as on 9th December 2010

NIFY EOD Analysis as on 8th December 2010

NIFY EOD Analysis as on 7th December 2010

NIFY EOD Analysis as on 6th December 2010

NIFY EOD Analysis as on 2nd December 2010

NIFY EOD Analysis as on 2nd December 2010

NIFY EOD Analysis as on 30th November 2010

NIFTY jumped up today. So, the 5700 level proved a good support at 38.2% level. Now, we have resistance at 5940 level. Till then, we are in short term downtrend.




Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 29th November 2010

NIFTY today made an up-move from 38.2% level after last day's downward move. Will bulls get the momentum to sustain the upward move from here? In my opinion, the level of 5939 should be broken to confirm the +ve bias. Till then we are in short term correction mode.



Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 25th November 2010

Today NIFTY fell again and closed around the 50% retracement level. No sign of bulls till now. Short term bias is -ve as of now.

Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 24th November 2010

The Hammer did not get bullish confirmation today, but still the range was inside yesterday's full day range. The short term outlook is -ve as of now.

Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 23rd November 2010

Today, NIFTY broke down well below the 61.8% level during intraday, but bulls pushed it higher and then the close was above 61.8 level. The candle pattern looks like a hammer. Needs confirmation now. Until then, we are in downtrend.



Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 22nd November 2010

From the chart, we can see that today NIFTY bounced from the 61.8% retracement level. But still we are in downtrend in short-term.

Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 19th November 2010

Again a red candle was formed today, which closed just below the 61.8% retracement level. Will there be a pullback from here or will bears continue marching ahead? Let's see what's in store ahead.




Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 18th November 2010

Today a big red candle was formed. During the day, it touched the Fibo retracement level of 61.8%. Today, we also saw that the pivot low was broken.




Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 16th November 2010

Today NIFTY formed a bearish engulfing in a downtrend. Also broke the pivot level trendline today and closed below it.
Now, the uprend which started from sepember is in question.

Will this lead to correction?


Questions
What is going to happen next?

Let's wait and watch!

NIFY EOD Analysis as on 15th November 2010

NIFTY 15112010

 It was a green candle day today. NIFTY made a bounce back from the uptrend line today. If it sustains, then we may move upward in coming days. We will have to wait for tomorrow's closing to decipher the next move.





Questions
What is going to happen next?

Let's wait and watch!

NIFTY EOD Analysis as on 30th August 2010

Small bodied green candlesick with low volumes showing indecision.

EMA3 is below EMA13(-).
Slope of EMA13 is down(-).
EMA 13 is at 5459 level.
EMA13 > EMA39(+).

Today's Bearish Signals:
1) Close was below EMA13.

Answers for Yesterday
It was a tug of war today, which ended in indecision at the end. Volume was also low. Anyways, it looks like Bulls have caught a grip at this level, but needs confirmation.

Questions
What is going to happen next?

Let's wait and watch!

NIFTY EOD Analysis as on 27th August 2010

Big Red Candlestick resembling a Bearish Engulfing patern. Volume was below average.

EMA3 is below EMA13(-).
Slope of EMA13 is down(-).
EMA 13 is at 5466 level.
EMA13 > EMA39(+).

Today's Bearish Signals:
1) Close was below EMA13.
2) Bearish Engulfing Candlestick (though volume was below average and also, it has been formed in a downtrend, so not much significance.)

Answers for Yesterday
Bears jumped in today, but the participation among bears was less as can be seen from Volume. NIFTY has closed at a crucial level because the close was at support area and also at EMA39 level.
Volume dried up at this level. Are we going to see upmove from here?

Questions
What is going to happen next?

Let's wait and watch!

Interpreting Stocks : 26th August 2010

NIFTY EOD Analysis as on 26th August 2010

Green Candle showing buying pressure. Volume was higher than average.

EMA3 is above EMA13 (+).
Slope of EMA 13 is flat.(~)  EMA 13 is at 5476 level.
EMA13>EMA39.(+)





Answers for Yesterday
Today's Bearish Signals:
1) Close was below EMA 13.
2) Was not able to surpass yesterday's mid point.

Bulls came in with good volumes today, but still the close was below yesterday's mid-point. We need a confimration that bulls will push ahead.

Questions
What is going to happen next? Let's wait and watch.

Interpreting Stocks : 25th August 2010

NIFTY EOD Analysis as on 25th August 2010

Red Candle showing selling pressure. Volume was average. Price is falling after tweezer top confirmation.

EMA3 is above EMA13 (+).
Slope of EMA 13 is flat.(~)  EMA 13 is at 5475 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Close was below EMA 13.
2) Price falling after tweezer tops, so got confirmation of a downtrend.

Bears had their day today. Volume was good too. Is this a sign of more downside? as price is falling after twezer top confirmation yesterday. Will Bulls halt the downside?

Questions
What is going to happen next? Let's wait and watch.

Interpreting Stocks : 24th August 2010

NIFTY EOD Analysis as on 24th August 2010

Red Candle showing selling pressure. Volume was average. Price Turned down after yesterday's tweezer-top formation.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5478 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Bearish candle after yesterday's tweezer top.

Bears had their day today. Volume was average. After yesterday's tweezer-top, a bearish red candle has been formed. For more downmove it needs confirmation.

Questions
What is going to happen next? Let's wait and watch.

Interpreting Stocks : 23rd August 2010

NIFTY EOD Analysis as on 23rd August 2010

Green Candle buying presure. Volume was almost same as last day's.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5473 level.
EMA13>EMA39.(+)


Answers for Yesterday
Today's Bearish Signals:
1) Tweezer Top

It was a tight day today, but bulls overcame bears and the close was at the previous day's hgih level thus forming a tweezer top like formation.

Questions
What is going to happen next? Let's wait and watch.

Weekly Analysis of Stocks as on 20th August 2010

NIFTY and VIX Weekly Analysis as on 20th August 2010