CONSOLIDATION WITH IN RANGE

Nifty traded in range ; yet protecting the crucial support NS 2882. For upmove to start, NF has to trade over 2927-2934. The pivot for this wave is NF 2893 with resistance at 2913-2934 and support at 2884-2872. NF looks bullish over 2905 and bearish below 2888. Everybody is waiting for budget.....

CONSOLIDATION AFTER BREAK OUT

Inspite of weak global cues, Bulls managed to show strength and protect the first support of NS 2882. NS 2840 has to be protected for any upward move. Today's pivot is NF 2911 with resistance at 2943-2961 and support at 2905-2887-2872. Below 2872 we will be weak for 2840 level. Today also Asia is weak which can give some nervousness to bulls if yesterday's low is broken. The target for this wave over NS 2882 is 3060 which is acting as lollipop for traders.

REACTION FROM OVERBOUGHT ZONE

Nifty reacted sharply from overbought zone in hourly charts. Today's bullish level is NF 2918 with strong resistance at 2948 and support at 2888-2841-2788. There is strong support at NS 2841-2832. With DOW and Asian markets being negative , we could see a weak market today.

BULLS IN COMMAND

Bulls managed to cross all resistances and closed at the upper end of range. NF has to stay over 2872 for up rally though we are entering over bought zone in hourly charts and can see a reaction. Today's pivot is NF 2882 with strong resistance at 2939-2967 and support at 2884-2856.

BREAKING OUT FROM FLAT RANGE

After trading flat for 5 days and supporting NS 2750, nifty is going to check upper end of range which is NS 2881. Today's pivot is NF 2821 with resistance at 2845-2858 and major is 2872. Support exist at 2810- 2774. Nifty future should remain over 2827 for upward rally.

FLAT RANGE TO CONTINUE

Bulls lack buying conviction at higher levels. What needs to be seen is how long this flat pattern will last. Today's pivot is NF 2767 for targets 2786-2807 and support at 2746-2725. Nifty future has to trade over NF 2784 or NS 2800 for upmove.

BEARISH CONSOLIDATION PATTERN

Nifty is moving sideways with buying coming at lower level and selling at higher level in a bearish pattern though everyday it is trying to make marginally higher highs and higher lows. Trend line support below is NS 2787 and resistance NS 2832-2863. Toady's pivot is NF 2792 with resistance at 2801-2820 and support at 2762-2743. NF has to trade over 2817 for upward move and is waek below 2780.

SEARCHING FOR DIRECTION

Volatility at its peak making it difficult for traders. Today NF has to trade over 2775 for resistance at 2788-2811-2844 with support at 2741-2718. Market has spent lot of time in this zone and break out either side should be traded carefully.

MARKET UNDECIDED...

One day up and one day down... no trend is being formed. Today's pivot is NF 2766 with support at 2735-2706-2677 and resistance at 2795. Bearish below NF 2823 . For upmove NF should trade over 2781.

SIDEWAYS TREND

Nifty is moving sideways with a bullish outlook. Today with Asian market being negative... soft opening expected. Toady's pivot is Nf 2837 with resistance at 2898-2929 and support at 2828-2808. Bearish below Nf 2797. For upmove NS should trade above NS 2803 and preferably 2825.