NIFTY TECHNICAL REVIEW - 11 SEP 18

On daily nifty formed 3 doji's ( marked with black line ) with higher high's , lower low.
Following 3 doji's - nifty opened lower and closed near its low, and formed long bearish candle
engulfing prior 2 doji's.

Since, its a long bearish candle, we might expect a retrace of about .382 [ 11483 ] or .50 [ 11500 ] of the candle, the following day. ( however not necessary it would retrace - we plot retracement for keeping SL ( Trailing stop loss ) in case of holding short positions )

Following bearish candle, index opened little higher @ 11476 ( pro gap- filled the gap at the opening itself ) and headed lower and, formed another long bearish candle closed near its low @ 11287.50

So now the index has two consecutive long bearish candle - Probability are that it may form three bearish crows pattern , hence tomorrow we may expect another bearish session.

There is also a Head & Shoulder Pattern visible on the Daily chart and in today's session neckline is broken decisively .

We may keep our short positions open or may partially book profits and trail the stop loss to today's candle .382 retracement i.e 11355 or .50@11383

Intraday charts are oversold, so keep an eye on price action ,  if it is to witness any pullback to the neckline.{ 11420-11427}

Head & Shoulder target is at 11027.

NIFTY TECHNICAL REVIEW - 7 June- 2018

• Previous Day Candles : Long Bullish Candle - Open[ 10603 ] slightly higher than previous close [ 10593.] and closed near its high [ 10684 ]. - Bulls had control at opening as well closin
• Candle Formed Today : Gap up bullish candle with the long upper shadow - closed at previous top resistance @10770.- At opening bulls had control but at closing bears also has some power( refer long upper shadow)

• Nifty closed in positive up  by 83.70 points  closing @10768
• opened gap -up @10722 - unfilled gap support created@10698-10722
• RSI stands @ 58.30 ( previous day rsi 53.92 ) moved bit higher.
• In previous post we expected index, if it goes above 10730 - to move towards 10770 & 10880 levels, 
• Near term resistance can be seen 10770-  zone.
• Near term support can be seen at 10720 evels.
• Lower top formation is there on chart , for a rally to continue to the upside an aggressive breakout move above 10800 levels is required.

Data Points:-

Call

1. Maximum Call Open Interest stands @ 11k. ( 4.1M ) 
2. Followed by 10.8K ( 3.5M ) and 10.7 k ( 3.4M)
3. Maximum Addition in Call OI seen @ 11.1K , 
4. Followed by 10.2 k

Today's data suggesting nifty could face quite good resistance @10700 levels, followed by 10800

PUT

1. Maximum Put Open Interest stands @ 10.6K( 4.04 M)
2. Followed by 10.5K ( 3.5M) and 10.7 k ( 3.4M)
3. Maximum Addition in put OI seen @ 10.7K
4. Followed by 10.8K

Today's data suggesting nifty could face quite good support @10600 levels, followed by 10500.

Combined Analysis

• Above 10770, nifty could move upto 10880.
• Below 10690,  nifty could move upto 10600, 10550.

NIFTY TECHNICAL REVIEW - 6 June 18

• Previous Day Candles : Bearish Hammer with long lower shadow - signalling some demand near 10550 levels. - Bulls had some hold at closing.
• Candle Formed Today :  Long Bullish Candle - Open[ 10603 ] slightly higher than previous close [ 10593.] and closed near its high [ 10684 ]. - Bulls had control at opening as well closing

• Nifty closed in positive up  by 91.5 points  closing @10684. 
• Took support at .382 Fibonacci Ratio of previous rally swing [ 10929 - 9951 ]  where nifty met some buying making low of 10550.
• RSI stands @53.92 ( previous day rsi 48 ) moved bit higher.
• In previous post we expected index, if it goes above 10610 - to move towards 10700 levels, 
• On seeing Today's Candle,  nifty may spend some time in the range of 10550- 10700, before trending in any direction.
• Near term resistance can be seen 10700- 10730 zone.
• Near term support can be seen at 10600 levels.
• Lower top formation is there on chart , hence need to break above down-sloping trendline and previous top , for the trend to continue on the upside.

Data Points:-

Call

1. Maximum Call Open Interest stands @ 11k. ( 4.1M ) 
2. Followed by 10.7K ( 3.5M ) and 10.8 k ( 3.4M)
3. Maximum Addition in Call OI seen @ 10.8K , 
4. Followed by 10.9 k

Today's data suggesting nifty could face quite good resistance @10700 levels, followed by 10800

PUT

1. Maximum Put Open Interest stands @ 10.6K( 4.04 M)
2. Followed by 10.2K ( 3.5M) and 10.5 k ( 3.4M)
3. Maximum Addition in Call OI seen @ 10.6K
4. Followed by 10.5K

Today's data suggesting nifty could face quite good support @10600 levels, followed by 10500.

Combined Analysis

• Above 107300 , nifty could move upto 10800.
• Below 10610,  nifty could move upto 10500, 10440.

NIFTY DAILY TECHNICAL REVIEW - 5 June 2018

• Previous Day Candles : Long Bearish Engulfing - Covering Prior Four Sessions Candle.- high made 10770 
• Candle Formed Today :  Bearish Hammer with long lower shadow - signalling some demand near 10550 levels. - However did not convey much as it is formed just after 1 bearish candle.

• Nifty closed in negative down  by 35 points  closing @10593.15
• Took support at .382 Fibonacci Ratio of previous rally swing [ 10929 - 9951 ]  where nifty met some buying making low of 10550.
• RSI stands @48 ( previous day rsi 50 moved bit lower) 
• On seeing Today's Candle,  nifty may spend some time in the range of 10550- 10700, before trending in any direction.
• Near term resistance can be seen at 10620 and 10700- 10730 zone.
• Near term support can be seen at 10550  and 10440 levels.
• Lower top formation is there on chart , hence need to break above down-sloping trendline and previous top , for the trend to continue on the upside.

Data Points:-

Call

1. Maximum Call Open Interest stands @ 11k. ( 4.5M ) 
2. Followed by 10.7K ( 3.3M ) and 10.8 k ( 3. 1M)
3. Maximum Addition in Call OI seen @ 11K , 
4. Followed by 10.8 k and 10.9 k

Today's data suggesting nifty could face quite good resistance @10700 levels, followed by 10800

PUT

1. Maximum Put Open Interest stands @ 10.2K( 3.5 M)
2. Followed by 10.6K ( 3.4M) and 10.5 k ( 2.9M)
3. Maximum Addition in Call OI seen @ 10.1K
4. Followed by 10.4K and 10.5K

Today's data suggesting nifty could face quite good support @10600 levels, followed by 10500.

Combined Analysis

Above 10620 , nifty could move upto 10700, 10800

Below 10550,  nifty could move upto 10500, 10440.

NIFTY DAILY TECHNICAL REVIEW - 4 June 2018

• Previous Day Candles : Having Similar highs, suggests some supply near @10760-10770. Levels.
• Candle Formed Today :  Long Bearish Engulfing - Covering Prior Four Sessions Candle.

• Nifty closed in negative down  by 67 points  closing @10628.50. 
• Fibonacci Ratios - .618- .786 [ 10730-10820 ]  where nifty faced resistance high made@10770.
• RSI stands @50.
• On seeing Today's Candle, if i expect short term top has been made, then major Fibonacci clusters stand near 10320 and 10065 levels.
• Near term resistance can be seen at 10700- 10730 zone.
• Near term support can be seen at 10630- 10600 zone.

Data Points:-

Call

1. Maximum Call Open Interest stands @ 11k.
2.  Followed by 10.7K
3. Maximum Addition in Call OI seen @ 10.7K

Today's data suggesting nifty could face quite good resistance @10700 levels, followed by 11000.

PUT

1. Maximum Put Open Interest stands @ 10.2K.
2. Followed by 10.6K
3. Maximum Addition in Call OI seen @ 10.2K
4. Followed by 10.3K and 10.6K

Today's data suggesting nifty could face quite good support @10600 levels, followed by 10200.

Combined Analysis

Below 10610 , nifty could move upto 10555 , 10440 , 10320, 10200

Above 10730,  nifty could move upto 10800, 10888 , 

Nifty Weekly has formed AB= CD Pattern

The AB=CD pattern is very much easy to identify on charts  and is a classic chart patterns which is repeated over and over again and at times shows perfect harmony between price and time
1. It consists of 2 equivalent price legs.
2.  It has specific Fibonacci measurements of each point within its structure.
3.  The amount of distance and the time it takes for price to travel from A to B is equal to the time and distance from C to D

Important thing to note -  Nifty Weekly has formed AB= CD Pattern,

1. AB leg is of 2142 points and took 27- 28 weeks to form.
2. CD leg was expected to be 2142 .CD Leg  is now  hovering near its completion point{ 10037-10043)  Hence price action at these levels are really critical to watch.
3. 10040-10045  is very crucial for the index
4. Since today is Friday, last trading session of this week , hence today's closing is very much important.
5. if it closed below these level, minor correction possibility cannot be ruled out.

Nifty today technical chart | Nifty technical study | nifty technical view as on 12-07-2017

This is a Daily chart of nifty as on 12-07-2017

 I have spotted a Alternated ABCD pattern on Nifty Daily chart, currently nifty is seen trading near it prz zone i.e. 9799- 9815.

In yesterday session , it has formed Spinning candle stick pattern at the pattern prz zone, suggesting supply is there at these levels, hence price action near these levels are crucial to watch , as this will determine the further trend in the index.

For detailed price action, please click on the video below: