Nift - Intraday post

Nifty took support at lower trendline of downward moving channel.

Tata Power

Tata power has broken down from the down ward moving channel it was trading  for last two years........so the stock could now fall to 900 -840 levels.

Nifty Weekly Chart

In Nifty weekly chart above, one could clearly see that nifty has been trading in a downward moving channel...and last week it closed right at upper trend line of the channel.......so lets see whether nifty is able to move out of this channel or once again start its downward journey.

Nifty : In channel

Nifty is trading in an upward moving channel and could face resistance at upper trend line which for tomorrow stands at 5640.

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 Update on Orchid Chemicals
Even though the pattern still hold , but looking at market momentum on upside its dangerous to trade against market direction.

Nifty

Nifty has made recent up move within upward moving channel so lower trend line could provide support in case of any correction and the lower trend line stands at 5210 for monday and increases by 10 points each day.

Update : Nifty Weekly Chart

Today Nifty tested the lower trend line of upward moving channel as stated in this post.

Nifty Weekly Chart

Looking at global markets at present it looks most likely that nifty would test lower trendline of the channel which for this week stands at 4800.

Nifty

Nifty has been moving in a down ward moving channel and now it is near upper trend line which stands at 5320-5325 so it could now face resistance around these levels.

Nifty

Nifty has been moving in an upward moving channel and is now moving towards lower trend line which for today stands at 5248.

Nifty :In Channel

Nifty has been moving in an upward moving channel , if the lower trendline is broken with good volumes it could take nifty to 5180.

Nifty : Move in Channel

Nifty has been moving in an upward moving channel , with upper trend line at 5028 and lower trend line at 4860 for tomorrow.

Nifty : Move in a channel

Nifty is moving in an upward moving channel and upper trendline comes around 4970-4975 so one could cover longs there.

Nifty

I am expecting a good bounce tomorrow but in case global cues are bad nifty could take support at 4680-4720 area

Nifty

Looks like nifty is moving in an upward moving channel and we are headed higher, also 5180 support was very well held today.Another observation is that today nifty bounced exactly from 38.2% retrachment levels for move from 4944 to 5310.

Update:Nifty Channel

Target for nifty channel given in this post reached today

Nifty: Channel move

In hourly chart one could see that nifty is moving in an upward moving channel, breakdown from this channel could take nifty to 5030-5020 level.

Morning Thought

Nifty is moving in a channel in hourly chart and could find support around 4880 but if channel is broken with a big spread it could go all the way down to 4700.

Nifty

Nifty should hold 4960 for the up move to continue.

Nifty in upward moving channel

Bajaj Hind

Bajaj Hind is moving in a downward moving channel and could face resistance around 180-181.