WEEKLY CHART BOOK

TECHNICAL VIEW FOR THE WEEK 19102015:

NIFTY:

A Highlighted Sentence In My Last Weekly Chart Book Was This '' A Short Term Down Move Or A Sideways Move Is Expected If NIFTY Trades Below 8139 ''

Last Week From Monday Itself NF Closed Below 8139 And We Witnessed THREE Days Of Short Term Down /Sideways Move Around 8093-8150

NIFTY EOD 161015:

Thursday Onwards I Suggested Buying  Above Levels Like 8155 And On 16th I Raised My STOP To 8139 And NIFTY Made A Low Of 8146 And Took A Sharp U-TURN To Close At 8238

NF Closed Above 8242 And BNF Too Closed Above 17821 Are Good Signs For Bulls

For The NEXT Week 8139-8092 Zone Remains Very Strong Support Zone And  8273-8315-8328 Are Possible Up Side Targets

Around 8300-8400 Zone We Have PLENTY OF RESISTANCES So Caution Is Advised For LONGS In And Around This Price Zone

Expect A Spike High And Short Term Trend Reversal From This Zone

If NIFTY Reaches Above 8315 Then The Earlier Resistance Of Around 8242 Should Support Any Down Move And This SUPPORT Not Working As Support Will Be The First Warning Bells

TECHNICAL VIEW OF NIFTY AS ON WEEKLY CHART:

The Chart  Posted Below Has The Same Comment Since A Few Weeks

The BROADENING PATTERN Was Clearly Identified Having Supports Around 7600-7500 Zone And The Up Move Too Was Well Anticipated And Now We Are On The Verge Of Targets Around 8321

The Weekly Closing Candle Can Be Described As A '' DOJI '' Or Even As A '' HANGING MAN '' Pattern Which Suggests That The LOWER SHADOW Of Last Week Will Be Critical Support For Next Couple Of Weeks

A Weekly Close Below 8139-8093 Will Be STRONGLY BEARISH From Now Onwards

WEEKLY NIFTY CHART:

BANK NIFTY:

In Last Weekly Chart Book 17480-17401 Was Shown As Support Below Which One Would Have Expected A Significant Down Move

Only On One Day BNF Did Make A LOW Of 17500 And Then From Thursday Onwards Buying Was Suggested Above 17680 With Targets Of 17821 And 18000-18075

BNF High On 15th Was Precise 17821 And Once Above It On 16th BNF Touched 18006 Meeting One Important Target

18211 And 18326 Are Two Very Important Targets And Resistance Levels For BANK NIFTY

Watch Out For Price Action In This Zone Next Week

EOD CHART BANK NIFTY:

A WEEKLY CLOSE Below 17434-17216 For BANK NIFTY And 17480-17150 For BNF Will Be TREND REVERSAL For Both Of Them

Around 17200-17400 There Are Some Resistances So EXPECT Some Selling Pressure There

WEEKLY CHART BANK NIFTY:

WEEKLY CHART BOOK

TECHNICAL VIEW OF NIFTY & BANKNIFTY FOR THE WEEK 12102015:

NIFTY:

Two Weeks Back When NIFTY Was Struggling Around 7900 I Wrote Here That We Will Have A Down Move Which Will Be A HIGHER BOTTOM And I Had also Clearly Shown The Possibility Of An Inverted HEAD & SHOULDER On EOD Charts With Targets Of 8273-8315

In Next Technical Views I Initiated Raising My STOP & REVERSE Levels To 7700 ,7800 ,7900 And Then 8105 All On Closing Basis This Way A Smart Reader Could Have Easily Ride This Up Move As NF Made A High Of 8248 On 8th October

8105 Remains Our STOP & REVERSE For Positional Traders But If We Have Close Below 8105 The Short Term Down Move Should Get Support At The NECKLINE Which Will Have A Value Around 8000 Next Week

I Had Suggested A Resistance At 8242 Which Was A 127.2% Of A Down Leg And NIFTY Made A High Of 8239 On Friday Before Closing At 8189 So Traders Should Expect Further Up Move If NIFTY Can Give An Hourly Close Above 8242

A Short Term Down Move Or A Sideways Move Is Expected If NIFTY Trades Below 8139

EOD CHART NIFTY 091015:

UPDATED WEEKLY CHART OF NIFTY AS ON 091015:

BANK NIFTY :

BANK NIFTY Has Been In A Spot Of Bother As Compared To NIFTY Which Inched Upwards

Last Four Days Of Week BANK NIFTY Has Moved In A Very Small Range Of 300+ Points In Between 17827-17401

So Expect A Big Day For BNF Very Soon

EOD CHART OF BANK NIFTY:

As We Watch Weekly Chart Of BANK NIFTY There Are A Lot Of Resistance Lines Around 18000+ Level So We Can Expect Some Corrective own Move If BNF Actually Reaches Some Where Around 18000 Next Week

A CLOSE Below 17480-17401 Will Initiate A Down Move For BNF So Please Do Watch This Zone Of Support For The Next Week

WEEKLY CHART OF BANK NIFTY:

TECHNICAL VIEW FOR 081015:

TECHNICAL VIEW FOR 08102015:

NIFTY:

NIFTY Continued Its Up Move Ignoring Selling Pressure In IT Giants Like INFY And TCS And Also In A Few Banks Like AXIS/YESBANK

NIFTY FUTURES Can Swiftly Move Towards 8273 Level If It Can Cross 8221 In Today's Trades

We Will Use A 30 Minute NF Chart To Have A Closer Look At The SHORT TERM Trend

One Can See A Small Channeled Up Move So The Lower End TRENDLINE Is A Very Important Support To Watch

8142-8105 Are Two SUPPORTS /STOP & REVERSE Levels For NF For Coming Days

NF 30 MINUTE CHART:

BANKNIFTY:

BANK NIFTY Futures Continues To Under Perform NIFTY

BNF Has To Move Beyond 17821 And Even A 15 Minute Candle Close Above 17821 Will Take BNF To Higher Targets

We Have A Couple Of Critical BNF Levels For Coming Few Days If BNF Still Remains Below 17821

17542 -17490 Is A Very Important Support Zone For BNF And Below This Zone There Is A Gap Support At 17356-17205 Below Which BNF Will Enter In A Possible Short Term Down Trend

BNF HOURLY CHART :

TECHNICAL VIEW FOR NIFTY & BANKNIFTY

TECHNICAL VIEW For NIFTY & BANKNIFTY For 06102015:

NIFTY:

NIFTY Closed Above 7900 Last Wednesday And On Thursday It Did Give A Negative Close But Was Still Above 7900 So My Comment Was That The Down Move On 1st October Was A PAUSE ONLY And One NIFTY Got Support From BNF As BNF Started Trading Above 17410-17460 There Was No Look Back For NIFTY Too

NF Closed Just Above My First Target Of 8130

The Probable Inverted H&S Structure Was Suggested From Here Well In Advance EVEN BEFORE The RIGHT SHOULDER Was Visible

Supports At 8091-8051 And With A STOP At 8005 NIFTY Is Now Heading Towards 8238 /8276 And 8315

NIFTY EOD:

BANK NIFTY :

For BANKNIFTY I Have Been Clearly Writing In ALL MY WEEKLY CHARTBOOKs That The 2015 Fall Has Been A FALLING CHANNELED MOVE Which Is BULLISH

17410-17460 And Finally 17660 Were Our Levels For Upside Breakout Which Did Happen Yesterday So BNF Is Now Heading Towards The BIG BEARISH Gap

With SUPPORT At 17461 And With A STOP At 17100 BNF Can Move Towards 18211-18326 In Coming Days

But I Hope BANKNIFTY Should Close Above 17720 Today And Has Some Resistance At 17821-18034

WEEKLY CHART BOOK : TECHNICAL VIEW FOR NIFTY & BANKNIFTY

TECHNICAL VIEW For NIFTY And BANKNIFTY For The Week 05102015:

NIFTY:

Since We Have A Month Ended Just A Day Before Last Trading Day Let Us Have A Look At MONTHLY CHART Of NIFTY To Have An Idea Of Probable Nifty Move In Coming Days/Weeks

CANDLE STICK Point Of View Last Month We Have A DOJI STAR PATTERN Which Suggests The Month Ended With Strong Buying Support Around 7540-7700 Levels BUT This Kind Of Pattern Can Prove To Be A Reversal Pattern IF WE HAVE A FOLLOW UP BULLISH CANDLE For NEXT Month

For This To Happen NIFTY Has To Close OCTOBER Month Above 8315 If Such A Positive Close To Come END NOVEMBER Then We Should Not Have A Monthly Close Of OCTOBER Below 7700

NIFTY MONTHLY CHART :

The WEEKLY Picture Combined With HOURLY Chart :

There Is Neither A Great Bullish Follow Up On Weekly Charts To CONFIRM We Have A Medium Term Bottom In Place At 7539 Nor Is The Weekly Close Suggests Any Immediate Sharp Sell Off

Weekly Charts Do Confirm One Thing And That The NIFTY Now Has Some Strong Supports At 7723-7691 Zone

So An EOD Close Above 8055 On Any Day Next Week And We May See NIFTY Moving Towards The 38.2% 50% Retracement Levels (8130 & 8318 Respectively) And Towards The Big Bearish Gap Around 8300 And Once The GAP Is Closed NIFTY Can Even Move Forward To Meet The RESISTANCE Line Of The BROADENING PRICE STRUCTURE

All Levels /Price Zones Are Shown On This Weekly Chart:

When I Have A Closer Look At The Price Action Since The Bottom @7539 On Hourly Charts I Feel We Have Two Possibilities For Coming Few Weeks Price Movement

1 A TRIANGLE

2 A Straight Away BREAK OUT With Targets Of Up To 8318

In Case Of A Triangle Possibility I Think NIFTY Has One More DOWN LEG To Finish The FIVE LEGs In The Form Shown On This Chart As ABCD-E

Two Things One Must Understand

One Is That TRIANGLEs Can Be A CONTINUOUS PATTERN OR Can Also Be A REVERSAL PATTERN So If Actually It Turns Out To Be A TRIANGLE We Can Decide Further Move Only After The LAST ''E '' Leg Completes Itself

Second Is That A Trader Must Wait For The ACTUAL BREAK OUT Of The TRIANGLE To Decide The TREND

NIFTY HOURLY CHART :

As On The EOD CHART Of NIFTY It Is STILL Bullish As Long As It Remains Above 7900 And October 1St Move Can Just Be A Small Pause

So For The BULLISH OPTION A NIFTY Close Above 8092 Will Be A Very Good Confirmation Which Will Also Be A CLOSE Above The FALLING Trend Line Resistance

TECHNICAL VIEW FOR BANKNIFTY :

As One Can See This WEEKLY CHART Of BANKNIFTY It Is Clearly Evident That BANKNIFTY Has Been Moving In A Falling Channel Which Is BULLISH

For The Next Week 17452 And 17660 Are Two MOST IMPORTANT Levels To Watch For Further Up Side Potential

While Extreme Caution Is Advised If BANKNIFTY Closes A Day Below 16648

For The Last Week Banks Like SBI /AXIS/ICICI Seems To Have Lost The Short Term Momentum While Banks Like INDUSIND /HDFCBANK Seems To Have Gained Further Strength

So There Are Confusing Signals From Different Bank Charts

WEEKLY CHART Of BANKNIFTY :

As Shown On This EOD Chart BANKNIFTY Has Potential Target Zone Of 18211-18326 Once It Closes Above 17660-17720

Above 17220 BNF Will Also Have BREAK Above The NECKLINE Resistance

EOD CHART BANKNIFTY:

As Per The Hourly Chart Structure I Can Not Find A TRIANGLE Formation On BNF

The Small PARALLEL PRICE Structure Will Decide The BNF Move For The Next Week

BNF HOURLY CHART:

NIFTY : Technical View

TECHNICAL VIEW For NIFTY & BANK NIFTY

TECHNICAL VIEW FOR NIFTY & BANKNIFTY FOR 01102015:

NIFTY:

Finally NIFTY Out Performs BNF And Even CLOSES Above 7900

Those Readers Who Does Pay Attention To My Day To Day Technical View Must Have Gone Long As After Around 2Pm Yesterday There Was Very Good Up Side Momentum In NIFTY

NIFTY Opened With A GAP But Struggled For Most Of The Day Time As BNF Under Performed But The Late Surge Gave A Clear Message That The SHORT TERM TREND Is Also Turning Up

Now Our Stop Is An Hourly Close BELOW 7800 And Every Dip Is A BUY Now With Targets Of 8021-8055-8091 And Expect Sharp Up Side Once NIFTY Closes Above 8091

A Few Stocks Are Also Buy On A Dip With NIFTY STOP @7800

They Are SIEMENS ,WOCKPHARMA,INFY,AB NUVO,LIC H FIN ,AUROPHARMA ,HDFC BANK,ASHOK LEYLAND,JK LAKSHMI

NIFTY EOD :

BANK NIFTY :

BNF Was a Laggard Yesterday But Since NIFTY Has Crossed An Important Resistance One Would Like BNF To Rally Today

BNF If CROSSES 17410/17461 One Can Expect 17660 And An Hourly Close Above 17660 There Will Be Some Very Good Momentum In Selective Banking Stocks Like HDFC BANK /KOTAK And INDUSIND BANK

Looking At INTRADAY Chart For A Caution BNF Must Not Trade Below 17180-17085

Short Term Targets For BNF Are 17876 And 18185

Intraday Chart BNF :