MARKET UPDATE - 30th JULY

Market Update – Today NIFTY broke a good support level. The Market had seen selling dominate in the last three months though the index was being managed and more of a sideways move. The selling accelerated after the budget and index also followed. The break of the support zone has been at high volume where the Market sell volume far outpaced the buy volume. The next support coming in the region of 10640 where buying came the last time.

3 M Market Analysis 1 10

Using Market Indicators to deduct market bottoms.

#NIFTY View on the 9th of July.

  Today the Index opened up ay  10,838 above the Price Rejection Level of 10,810 and closed slightly above at 10,852. The Index stock volume however remained below average.  The index up move looks less credible because of the low volume.  But the full market saw Buy volumes thrice the sell volume and the advances were twice the decline though the overall volume was less than average. Looks like the index is being propped up to support some buying across the market.  Next couple of moves is important to see if the index will sustain above the Price Rejection Level. The probability of sustaining look less and the move may peter out.

#NIFTY View of the Nifty on 7th July.

 For most part of June the Index has been range bound. Price Rejection level has been around 10810. In other words prices above 10810 could not be sustained.  Similarly the Price support level was around 10630-70. In other words support was coming below these levels and the index always recovered. To have any uptrend the index has to decisively move above 10810 and sustain. The volume pattern does not support a breakout above 10810 levels yet. The probability of some more range bound moves is more likely.

Market Outlook on the 19th May, 2018

#NIFTY #VSA #MARKETOUTLOOK Having a look at the Market after a long Gap. In April we saw the index making a smart up move. But weakness started to creep in in the beginning of May.  Though the overall movement was upwards we could see that selling pressure was indeed having a upper hand. Clearly some amount of distribution was happening.  We could see selling on increased volume.  Failing to hold above 10560 could see the Index test the weak support levels around 10400 levels below which we will see sub 10200 levels. Probability favors lower side as of now.

#NIFTY #VSA Review on the 12th March

. Today it seemed that the strength was indeed returning to the Market. We saw a above average spread up Bar closing at the top. However the volume was just about average.  The overall market also showed more buying pressure than selling pressure. The overall market volume also remained just average. Now the index is back into the trading range.  The strength that was seen today lacks credibility as indicated by the mediocre volume. We need to wait and see what happens in the next few sessions to confirm if the strength has indeed returned to the market. More sideways moves or in other words more ranging is expected. Any big uptrend is ruled out for the present and neither any big downside is expected.