SUPPLY ZONE

The supply zone is between 4930-5040. Nifty has already achieved target of 4930 which i had been writing before. For Upmove, it has to sustain over 4834. Today's pivot is NF 4890-4900 with strength picking up over 4915-4926. ..weakness below NF 4868 for 4845-4832.

MARKET TO CONSOLIDATE

Weekly Pivot is NF 4721 for target 4881-4911 though it is a resistance zone... support lies around 4662-4607. For today, the pivot is NF 4796 with strength picking up only over 4819 and weakness below 4775. Nifty may consolidate between 4740-4850 before the next move.

RECOVERY TO CONTINUE

Market has bounced back from oversold mode with daily charts also turning positive. ...aiming towards monthly S/R of 4856 and then 4930 zone. Today's pivot is Nf 4721 for target 4828 and resistance around 4854-4879. Now, weakness will be only if it trades below 4675.

SHORT COVERING RALLY

Nifty bounced back after taking support on the Island Gap.... this support should hold for all future upmove. Today's pivot and support in the zone 4662-4676 with resistance around 4724-4748. Weakness below 4648-4640.

CRUCIAL SUPPORT BROKEN

Very crucial level was NS 4740 creating panic and more shorts. Any bounce back can be till 4930 as we are in oversold territory in daily charts. Weekly pivot is at NF 4814 with resistance at 4937 and support at 4586. For today, the pivot and resistance is NF 4752-64 with support at 4642-4623 . strength only over NF 4792

STRONG GLOBAL CUES

Market expected to Gap Up after the worst expiry month . Today's NF is 4791 for target 4833 and resistance around 4867-4887. Stop loss for all longs should be 4761.. but relief rally is likely after 8 days of continuous fall with daily charts also in over sold levels.

SETTLEMENT DAY

Channel support around NS 4765-4725 which should hold for today. ... strength only over 4854 with pivot as 4831. To initiate longs NF should stay over 4792-4812 otherwise weakness could continue for another day. Daily/weekly charts are still negative.

RECOVERY FROM OVERSOLD

50DMA around 4825 should act as support as we are reaching oversold levels in hourly charts. Pivot and major resistance is NF 4884 and support 4807-4773. Tomorrow being settlement day, we may see short covering rally. UPmove possible only over 4930.

VOLATILTY AHEAD

Since Diwali Muharat, we are in a down trend which can continue this week as daily charts are showing negativity. Pivot for today is NF 4993 and bullish only over NF 5015... support lies around 4950-4920 from where some bounce is likely. We are nearing monthly pivot of 4908 and 50 DMA is around 4850 which could act as support for this wave.

SETTLEMENT WEEK

Pivot for the week is nf 5050 with resistance at 5126 and support in the zone 4954-4910. Nf has to trade over 5044 for bullishness though 4970 should act as a good support. For today, the pivot is 5016 for target 5025-5044 and support at 4989-4970. Bullish over 5052-5064... Lets see how the market reacts to extended hours of trading in next few days.