Nifty holds 50D SMA

Yesterday Nifty bounced from 50D SMA. Now the range to watch will be 5250-5200 on lower side and 5350 on higher side.

Nifty trailing below its SAR

Without participation of BankNifty, Nifty could not hold itself above 5400 for long and crossed its SAR and is trailing near its 20D SMA. Holding 5300 will be crucial. BankNifty has gone down too much.

SAR FOR NIFTY AT 5366

Nifty has broken the 5400 level in the morning trade and it is to be seen if it holds SAR at 5366 or not. Bank Nifty has not participated in this rally (courtesy NPA's of SBI) and is already below its SAR.

Nifty crosses 5400

After moving in a range Nifty finally crossed 5400 and closed at 5420. Bank nifty is still struggling to break the range. Without its support jumps are not expected.

Nifty facing resistance

Nifty is facing resistance at 5400 (Oct'11 high & sloping trendline from Oct'10). It is still above SAR, whereas BankNifty went below its SAR on friday and gave a close below it.

Hurdles ahead

Nifty is attempting next hurdle at 5400.

Nifty advances

Yesterday, Nifty gave the much awaited breakout and closed above the 5350-5360 range at 5380. Uptrend is intact till nifty maintains above the trendline. 

Immediate resistance will be Oct'11 high of 5400. This target looks easily achieved on the back of lower than expected inflation data which gives rise to rate cut speculations.

Nifty near 5348 again

Yesterday Nifty closed near 5348 again. Bank nifty closed just below its SAR (10419). Bank nifty has not broken the trendline till now. Banknifty is trying to go above SAR. If nifty maintains above 5350-5360 for 2-3 hours, it will be a breakout on upper side.
Global cues negative. Nifty SAR for today at 5289.

Bank Nifty - Make or Break point

Bank Nifty has broken the SAR at 10d EMA yesterday. It may cross the trendlines on either side in the coming days. Whereas Nifty has not broken the SAR or trendline yet.

Nifty retracing

Nifty after mildly crossing the 5348 levels has retraced and hovering at 5310 levels. Bank nifty has broken the SAR on the back of SBI's expected results .

Nifty hovering around 5348

Nifty has not crossed its recent high of 5348 convincingly. This morning also it is hovering around the mark and facing resistance here.

Nifty holds

Nifty has moved way above 10D,20D & 50D Ema. It is in positive territory till it holds 5210 spot. Next hurdle will be recent high of 5348.

NIFTY & BankNifty above SAR

Nifty & Bank Nifty have jumped to positive territory and are again in BUY mode.

SAR broken

Nifty has gone below the SAR (10 day EMA) at 5190 and trading at 5175 now. It is in sell mode now. BankNifty has also gone way below its SAR at 10360 and it trading at 10260 now.