NSE Nifty technical analysis for Expiry Week Part -I

By | December 23, 2012 1:43 pm

Nifty and Sensex continued with there consolidation phase, positive takeaway from last week’s movement is that the Sensex is holding above 19,000 and the Nifty continues above 5,825 which gives bullish touch this phase of consolidation. RBI maintained its status quo and disappointed market once again with no tweaking with rates. Namo( Narendra Modi) became 3 time CM of Gujarat and his ambition to Delhi 2014 gave a boost. Next week being an Expiry week with Holiday on Tuesday.

Lets discuss Nifty Trading Strategy for Next week.


 Nifty Hourly Chart

Nifty Hourly

Nifty continues to trade below  the important 50 Hour SMA 5883 is the number to be watched for Monday.Till 5883 is not crossed bulls remain on backseat. Till 5825-15 is not broken convincingly bears will remain on backseat.  Basically we are in grinding range,best is to wait for the market to show direction before jumping into the trade. Its almost 16 trading days nifty has been trading range 5823-5965 after breakout on November expiry.







Nifty Gaps

For Nifty traders who follow gap trading there are  6  trade gaps in the range of  5077-5900.

  • 5043-5077
  • 5238-5309
  • 5303-5309
  • 5399-5415
  • 5435-5526
  • 5635-5658
  • 5666-5651
  • 5727-5736
  • 5888-5916

So these levels should be noted down carefully by Nifty trader to find further Nifty support and resistance.



Nifty Daily Chart

As discussed last week  resistance of previous rise ie.5815-25 will become support for any downfall to come in Nifty. RBI disappointing the market nifty corrected took support at 5823 and bounced back smartly as shown in below chart. If one observe the Nifty cycle closely 16-18 trading session are spent in zone of consolidation in range of 5965-5823 after a rise of 200-250 points in Nov last week. So till traders do not see a breakout/breakdown trade in less qty. Do not repent on losing 30-50 points but rejoice getting 150-200 points. Always remember market make 80% of move in 20% of times.

Nifty Daily

As per trend line analysis Nifty is regularly taking support at rising trendline from low of 4770. Till the trendline at 5766 does not get broken nifty can continue its upward journey and close 2012 on a higher note.




Nifty Daily Chart with Indicators

Nifty Daily

Negative divergence has shown its effect and Nifty corrected and took support at rising trendline in Blue color. Next week will be crucial looking at this trendline. US fiscal cliff has provided an opportunity  for correction. Till 5825 is not broken market remains buy on dips.




Continue Reading for Weekly Charts and Weekly Levels




Let me go by Disclaimer these are my personal views and trade taken on these observation should be traded with strict Sl

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2 thoughts on “NSE Nifty technical analysis for Expiry Week Part -I

  1. Prabhat

    I regularly observe your notes and review reports. For the convenience of my days trading purposes I use to copy some important data and figures of experts comments from several sites and put them at one place in a notepad while trading and observing the Market. But, unfortunately your site being copy protected, I fail to copy such important data from your site, and , having no other option I have to follow the tedious task of typing them all from your observation, during the precious time to observe the market. While I understand your sentiment that ” your facts and data may not be copied and paged by others as their own expert comments” but, at least some data and figures may please be allowed to be copied by the viewers like us for better use thereof during the market hours. Hope, this of the observations will draw your active attention to help us in future. The data are like days support and resistance ,Nifty Gaps,Historical details etc.
    Thanks, Prabhat

  2. gauresh

    ना हम नौकरी मांग रहे हैं ,
    ना हम आरक्षण मांग रहे हैं ,
    ना हम FDI का विरोध कर रहे हैं ,
    ना हम महंगाई का विरोध कर रहे हैं ,
    ना हम LPG के रेट बढने का विरोध कर रहे हैं ,
    ना हम भ्रष्टाचार का विरोध कर रहे हैं ,
    ना हम कोई हला कर रहे हैं ,
    हम अपनी बेटी अपनी बहन के लिए इंसाफ मांग रहे हैं ,
    हम एक सख्त कानून मांग रहे हैं ,
    फिर हम पर ये अत्याचार क्यों ,
    हम पर लाठिया क्यों ,
    हम पर आंशु गैंस क्यों ,
    हम पर पानी की बुछार क्यों ,
    क्या इंसाफ मांगना जुलम है ,
    क्या हम आजाद भी हैं ,
    सोचना पड़ेगा ,
    लोकतंतर जिन्दा भी है या नहीं , जय हिन्द

    ज्यादा से ज्यादा शेयर कीजिये

    सच्चे भारत का सपना देखने वालो ,
    अच्छे भारत का सपना देखने वालो….


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