CONSOLIDATION TO CONTINUE

Pivot for today is 4978 with support around 4928-4945 and NS 4890 as last hope for bulls. Only close over NF 4525 will resume the upmove.

SETTLEMENT DAY

Weakness to continue today as well with uncertainty and volatility. Watch out NS 4930 or NF 4925 as break of that will lead to further weakness. .. gap lies between NF 4917-4892. Pivot for today is NF 4982 and will be bullish only over that.

FATIQUE SETTING IN..

Market looking a bit tired and may consolidate around these level though settlement tomorrow would lend some volatility. Pivot for today is Nf 5014 with resistance around 5044-5065... trading below 5002 will be bearish for 4977-4952.

SETTLEMENT WEEK

Pivot for this week is NF 4922 with support at 4860 and resistance around 5043-5075.... break out either side will give a big move. ... though the technical target for this wave is around 5300+.
For today,Nf has to trade over 4968 for target 4995-5008... however break of 4952 will lend weakness to test the gap up zone of 4892-4917.

REACTION ZONE

Market reacted from overbought zone with RIL leading the fall. However, this is just profit taking as the trend is still up. Today's pivot and resistance is NF 4976 with support around 4946-4931. Strength only over NF 4992. Market likely to pause and consolidate between 4850-4970.

OVERBOUGHT ZONE

With today's Gap up, we will be in overbought zone in hourly charts from where reaction may come. For uptrend NF has to trade over 4952 now with further support at 4935... resistance for today is Nf 4983-4998 with monthly second resistance also around 5002.

UPTREND RESUMED

Trend up as long as it trades over NF 4878 for target 4936-4952 though we are again walking into resistance zone.Next monthly resistance Nf 5000

DOJI PATTERN

Nifty has been trading in small range forming Doji pattern showing uncertainty at these levels. Today's pivot is NF 4817 with support at 4809-4796 and resistance in range of 4835-4848. NF strength will come over 4859 and will remain weak as long as it trades below 4815.

WEEKLY TEHNICALS

Nifty & Sensex first gave a break out and then traded in a range showing support around 4790. Pivot for this week is NF 4808 with first resistance around 4895-4923 and support around 4737-4727. The fear of last year sept-oct fall is still lurking in the minds of investors which is good enough for market to climb on the walls of worries....

PROFIT BOOKING

Weak hands showing signs of nervousness at these levels and market also looking tired. NS 4900-4920 will offer strong resistance. Today's pivot is NF 4837-4842 with resistance at 4866. NF should trade over 4872 for strength. Support around NF 4795... break of 4780 can lead to unwinding of longs...