29th July, 2016 :- NIFTY - Index Daily Movement!!

#NIFTY - Daily :- Index has been holding well above its support of 8580/- level. Daily Charts looks well & strong, but 3 Factors one would consider before remaining LONG @ Current Levels are :-
1) Index has breached major support levels @ 8490/- & 7935/- levels
2) PCR for August Month Expiry is < 1 & decreasing day by day
3) Index has around 6 Gaps Created since 7350/- level

22nd July, 2016 :- NIFTY - Index Daily Movement!!

#NIFTY - Daily :- Index has been testing 8580/- level but unable to Cross & Hold above it. Also, Volume has been decreasing, which signals weakening of Support for the price to Hold Current level & highly likely for a Correction.
Also, in Realtime P&F Chart, Index has triggered a Weak Sell @ 8490/-

19th July, 2016 :- NIFTY - Index Daily Movement!!

#NIFTY - Daily :- Index had tested previous Resistance Level of 8580/- but unable to Close & Hold above it. In view of Technical Indicators in Overbought Region & 6 Gaps Index has left Unfilled since 7250/- level, Correction is likely to follow.
But, PCR (Put Call Ratio) for Active 3 Months is 1.12 for NIFTY Options, which still do not Support Entry for Fresh SHORT Positions till date.

12th July, 2016 :- NIFTY - Index Daily Movement!!

#NIFTY - Daily :- Index has been in an Uptrend for a while now & overcome lot of Resistant Levels, but at the same time created a lot of Gaps since 7250/- level. Next major STOP can be 8580/- which can be seen clearly in Chart, an important level which Index was unable to Hold & Tested Lower Lows since July-Aug, 2015

01st July, 2016 :- NIFTY - Index Daily Movement!!

#NIFTY - Daily :- Index is above Support of 8240/- and unless manages to Close above this level - its Strong. Considering Gap of 8360/- (Aug-2015) & Double Top @ Current Level, plus Bearish Divergence seen in Majority of Indicators, a Correction is likely to Follow. But, to Trade Short, one at least should confirm it with Small Time Frame Charts & Below 8240/- Support Level.