SnP update

We were looking at a IMPORTANT trendline last time:

http://markettechnicals-jonak.blogspot.com/2011/07/snp-500.html

We were close to breaking it today . The index just pricked it and returned. Signs of EXHAUSTION.

NIFTY intraday UPDATE

Nifty looking very weak. It stopped on the PINK line . But I think 5430 is the final target before any 50-100-150 point upmove. Looking for a hit at the GREEN trend line.

Parrallel channel lines have been hit . so shall we turn from here .  or more down side left . not sure .

Final chart for NIFTY today .i think we are rally now . Monday should be closing the GAP at 5548.  Nifty may even climb higher to touch that BLUE trend line .

Nifty for tomorrow

Another sell-off on HUGE VOLUME. Most probably we are going down tomorrow too to touch that RED trend line . Target 5440-5430. Expecting reversal only after that .A hint of divergence in technicals.

Taking a closer look at 4 hour chart . The PINK line , the Thick GREEN line , and the BLUE DASHED line intersects  at 5440. SO thats where I expect NIFTY to touch down tomorrow and return for a little rally towards that BLUE trend line which was broken.

Parrallel channel in 90 minute chart . Looking the lower line to get HIT.

Nifty for tomorrow

I think we should see a Bounce from here  on . Atleast to the blue line or else to the top of this triangle.

Although there is a chance that 5500 might get hit.

Bank Nifty

Bank Nifty didnt quite HIT that Perfect PARAllel CHANNEL last time . This time it might .

Bank NIFTY

ITC

This might work .

Nifty intra DAY

Hits the trend line and STOPs. But most probably going to strike the lower Bollinger Band. That would be 5520 area. Also 50 DMA at the same place.

5 minute chart . We are seeing some bounce . Which has hit the channel line . I still like a touch of 5500.Lets see.

Nifty Intra DAY

HUGE SELLING seen. 100 SMA is acting as SUPPORT . But I believe that will be taken  out this week.

100 SMA support Broken . GAP closes at 5540. 50 SMA might get HIT in this downtrend . 5510 region.

Bank NIFTY

Tomorrows RATE HIKE day . And everybody is looking at the BANKING INDEX. Why the Bank NIFTY is going higher the last 2 days . Because it wants to touch the UPPER CHANNEL line . Tomorrow I expect it to touch it and then come back to give a RED CLOSE.

India VIX

Yesterday I said that VIX is near the trend line . It touched it today and gave a higher close inspite of the markets going higher. ANd i think it will only go higher in the coming days .