chinmayjog

chinmayjog

NIFTY has tested the 16900 levels thrice now. Expecting a break of this level with a big candle, and then a further following down move towards 16700 levels. 17000-17050 will act as a resistance with immediate support at 16900. If this level is not broken, a flat expiry is expected tomorrow around 16900.

chinmayjog

Bulls are defending the gap around 17800 levels, and Bears are defending the gap at 17900. For tomorrow, it looks most probable that NIFTY will test both the gaps. If NIFTY breaks these levels by virtue of gap up above 17900 or gap down below 17800 and sustains for around an hour, then we may see another directional day. Otherwise another sideways expiry is on the...

chinmayjog

Breach of 16700 levels on the hourly chart has opened gates for NIFTY to go higher towards 16850-16900 levels. EMA 200 at 16850 on daily chart will provide stiff resistance for upward moves. On the down side, 16500 is providing a good support on daily charts. NIFTY may turn rangebound this week.

chinmayjog

16700 is the 200 EMA on daily chart. It is acting as a strong resistance for NIFTY right now. Breaking it is going to be tough. On the lower side, 16500 is acting up as a very strong support as of now, with lot of put writing. If volatility reduces a little, we may see a consolidation in this area before any further move happens.

chinmayjog

NIFTY has touched its 200EMA on 15 min chart, which will provide some resistance. Also fib levels at 16350 will provide further resistance. If these levels are broken with high volume, 16500 can be seen soon. On the lower side, 16000 is a very good support.

chinmayjog

Nifty is trading in a triangle pattern with 15750 as its base, and constant pressure from the top. If 15750 is broken, we might see a big fall towards 15500. On the other hand, if NIFTY breaks the upper sloping trendline, then 16050 is the first resistance. So for this expiry, 15500 to 16000 can be considered as a range unless one of these is decisively broken.

chinmayjog

NIFTY is very close to its 50EMA on weekly chart, which is at the 16500 levels. If NIFTY closes below this level with decent volumes by Friday, then we will see further downside on the NIFTY chart towards 16100. If NIFTY bounces back from these levels, then 16700 on the daily chart would prove to be a resistance as 200 EMA is around these levels. Until a clear...

chinmayjog

NIFTY has daily EMA 200 at 16720. A daily close above this will help NIFTY move towards 16800. 16800 is also a big resistance. No bullish positions to be taken until 16800 is breached on daily charts. NIFTY may reverse from these levels, unless there is a big momentum. DISCLAIMER: All ideas published here are for personal education. These ideas should not be used...

chinmayjog

NIFTY has given a weak close below 17075 levels today. 16800-17000 looks to be a good support on the downside. Overall trend is very negative as can be seen from the slope of all moving averages. 16800 has been tested 3 times already in the last month. So if this support is broken with volume, 16400 looks probable. Although less probable, NIFTY could also move up...

chinmayjog

NIFTY will trade rangebound today, between 17250 and 17450. EMA 21 and EMA 200 being at these levels will be acting as support and resistances. EMA 89 is at 17350, where NIFTY is lingering right now. Fib levels also providing support at 17330. VIX at 21, so looks like another day where market may show moves on both sides. Max pain at 17400 suggests an expiry near...

chinmayjog

NIFTY is facing stiff resistance near 17500 levels. Currently sandwiched between EMA 21 and EMA 89 on the daily chart. On 3-hour chart, EMA 200 and EMA 89 providing resistance at 17450 levels, and on hourly chart EMA 200 providing a resistance at the same level. On the weekly chart, the wedge trendline is acting as a resistance around these levels. Overall, very...

chinmayjog

NIFTY has opened below 17150 today, signaling weakness in the market. A very strong weekly support at 17000 getting tested early today. 16800 is the next support level. A very high VIX early on suggests wild moves in price, which might come after some consolidation around 17000. Breaking below 17000 on hourly chart will allow further movement on downside. On the...

chinmayjog

NIFTY is perfectly following the trend lines on top and bottom forming a triangle pattern. 17150 on the lower side is a big support even if 17350 is broken on daily chart. On the upside, 17400 is now a resistance. Unless the trend on either side is broken decisively, NIFTY looks sideways. DISCLAIMER: I am not a SEBI registered advisor. Views strictly personal and...

chinmayjog

NIFTY is at 17420, and is supported by the 0.382 Fib on the hourly chart, EMA 89 on the daily chart. A daily close below 17420 will bring the NIFTY close to a very strong support at 17350, from where one can expect a bounceback. On the upper side, 17580 is a resistance due to the EMA 21 on the daily and a confluence of all EMAs on the hourly chart. If NIFTY breaks...

chinmayjog Updated 

NIFTY is in a tight spot at current levels. A confluence of all 21, 89 an 200 EMA on the hourly chart coupled with the Fib resistance at 0.382 providing a very small range for movement. Breakout and closing on either side of this level will decide further course. Immediate support at 17420 on downside, and resistance 17780 on upside after the breakout....

chinmayjog

NIFTY has reversed from the fibonacci resistance at 17780. Supports are strong at 17580 and 17420 levels on the daily chart. Until 17780 or 17580 are broken, expect to see NIFTY between this 200 pt range. DISCLAIMER: I am not sebi registered investment advisor. Views are personal and not meant as trading ideas. Please exercise caution.

chinmayjog

NIFTY has a strong resistance around the 17350 levels. EMA 89 on daily chart and EMA 21 on weekly chart now acting as resistances. 17000-17100 still acting as a good support range. For today, expecting NIFTY to be rangebound between these levels. Likely to see a bigger move tomorrow.

chinmayjog

NIFTY is moving up and is trying to regain the weekly 21 EMA level at 17330. A close above this today would be a victory for the bulls. A closing below this level might trigger a bigger correction towards 16500 levels. All important budget coming up on Tuesday 1st February has already led to some anticipatory buying in the market. Slightest disappointment should...