Nifty breaks trendline support, What next ?

By | March 26, 2015

FII

  • Nifty closed below its 100 DMA and below its trendline support. As per Pyrapoint Analysis Nifty broke its 180 degree line and than no attempt was made to move above 180 degree line and nifty declined towards its 225 degree and closing well below it. So for the first time we are breaking trendline, next technical support for market is 200 DMA. Till today’s high is not crossed their is high probability we can visit 200 DMA. Gunner also shows we have broken down and their is a possibility we are visiting 200 DMA. Nifty has not seen a 10% correction from high of 9119 we are down 794 points still 117 points required for 10% correction.

nifty daily

NIFTY - Gann Box

Nifty Gunner

  • Nifty April Future Open Interest Volume is at 2.18 core with addition of 72.9  lakhs , Rollover for April series has been 77 %  with average rate of 8630. So below 8630 NF bears have upper hand. Also premium for NF is 113 points which is huge and will get reduced in next few sessions to around 50 points.
  • Total Future & Option trading volume was   at 5.78 core with total contract traded at 6.5 ,lakh. PCR @0.81
  • FII’s sold 521  cores  in Equity and DII bought 687  cores in cash segment.INR closed at 62.66.

 

Buy above 8350 Tgt 8385,8420 and 8450 (Nifty Spot Levels)

Sell below 8326 Tgt 8300,8278 and 8250 (Nifty Spot Levels)

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5 thoughts on “Nifty breaks trendline support, What next ?

  1. Bramesh Post author

    Yes Sir for 1 day expiry both remains the same.

  2. mohitjain

    Barmesh ji now mkt looking to much week today hamring investor to much one month befor I ask you long trm tgt then you say up side 9200 lower side 7800 7400 upr tgt apoximate achiv 9120 now down trend tgt to come pls clarify timevise

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