NIFTY VIEW FOR 01.08.2012

Nifty had opened higher with a gap at 5214.90 but could sustain it made a low of 5154.10. It recovered from the lows to make a new high for this swing at 5234.60 and closed the day at 5229.00. Spot nifty has retraced the 61.80% level at 5227.00 and if it sustains above it then it will be positive for it. Above it 5256-5280 seems the resistance. So from now for short term, the key levels seem to be 5227-5184 on the downside. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.

No trade between 5211 and 5247(To avoid whipsaw)

Buy above 5247 sl of 5227

targets 5265-5283(add positions breakout on the upside)-

5301-5319-5337-5355-5373.

Sell below 5211  sl of 5231

targets 5193-5175(add positions breakout on the downside)

5158-5140-5122-5104-5086.

Happy Trading !!!

Nifty View for 31.07.2012

Nifty continued its march on the upside with a huge green candle.Its just closed near the 5200 level.The level of 5184 is crossed intraday and the resistance looks at 5210. Sustaining above 5210 is the key for this run to continue. Above 5210 it has resistance at 5256. On charts the indicators look promising and should move to higher levels to confirm price action. Intraday players can look at the levels on spot nifty given below to trade on Tuesday.

No trade between 5182 and 5218(To avoid whipsaw)

Buy above 5218 sl of 5198

targets 5236-5254(add positions breakout on the upside)-

5272 -5290-5308-5326-5344.

Sell below 5182  sl of 5202

targets 5164-5146(add positions breakout on the downside)

5128-5110-5092-5074-5058.

Happy Trading !!!

Nifty View for 30.07.2012

Nifty made a good comeback from the lows of 5040 and closed the day at 5099.90. Spot nifty has a resistance at 5133 and above it can be positive. On charts spot nifty bounced of the Ichimoku Cloud supports and is currently perched above it. Holding the 5040 will be the key for the pullback. In between 5040 and 5133 can see consolidation. Both indicators ie Stochastics and MFI seems to be interestingly poised. Both should increase their values from the lows to have a positive impact on spot nifty. On weekly basis nifty is weak below the 5184 level sustaining below it 5040 already hit by it and then could possibly hit 4900 levels. Intraday traders can look at the levels on spot nifty to trade on Monday.

No trade between 5082 and 5118(To avoid whipsaw)

Buy above 5118 sl of 5098

targets 5136-5154(add positions breakout on the upside)-

5172 -5190-5208-5226-5244.

Sell below 5082  sl of 5102

targets 5064-5046(add positions breakout on the downside)

5028-5010-4992-4974-4958.

Happy Trading !!!

Nifty View for 27.07.2012.

Nifty touched the level of 5040 today made it a weak expiry.Nifty has retraced from a high of 5348.55 and closed the series at 5043 its was correction of 300 points. Current supports look to be around 5040 -5000 levels. 5000 is an psychological on spot nifty breaching it will accelerate the momentum if sustained below it. On the upside the level of 5133 will be a strong resistance and sustaining above it will mark the recovery stage for nifty. On charts nifty is seen around the cloud support which is very thin and nifty has penetrated it. On Stochastics its below 20 levels but its still looks dicey and will need further confirmation from spot price. On charts is marked the earlier breach of clouds and corresponding stochastics levels with CAUTION. Intraday traders can look at the levels on spot nifty given below to trade on Friday.

No trade between 5025 and 5061(To avoid whipsaw)

Buy above 5061 sl of 5041

targets 5079-5097(add positions breakout on the upside)-

5115 -5133-5151-5169-5187.

Sell below 5025  sl of 5045

targets 5007-4989(add positions breakout on the downside)

4971-4953-4935-4917-4899.

Happy Trading !!!

Nifty View for 26.07.2012

 Nifty has paused the fall intensity looks to consolidate in the range of 5080 to 5120  for the spot. It made a low at 5076 and closed above the 5100 level at 5109.60. Spot nifty has been closing near the 5100 level for last three sessions which shows the fall intensity was held up by this level. If this level is held for expiry tomorrow then we may see some recovery up to 5150-5180 levels. On charts we can see nifty nearing the Ichimoku clouds supports and Stochastics moving below the 20 levels. One should keep eye on both for a trend reversal if it comes. Intraday traders can look at the spot nifty levels given below to trade on Thursday.

Buy above 5128 sl of 5108

targets 5146-5164(add positions breakout on the upside)

5182-5200 -5218-5236-5254.

Sell below 5092  sl of 5112

targets 5074-5056(add positions breakout on the downside)

5038-5020-5002-4984-4966.

Happy Trading !!!

Nifty View for 25.07.2012

Nifty on the daily charts has broken the supports on the fibo lines and is currently supported a by the trendline as shown in chart.Nifty has tried to consolidate today after hitting a new low. Till it holds the 5100 levels there chances of some recovery.Breach of the level of 5100 will take it to 5060-5040 level. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.

Buy above 5146 sl of 5126

targets 5164-5182(add positions breakout on the upside)

5200 -5218-5236-5254-5272.

Sell below 5110  sl of 5130

targets 5092-5074(add positions breakout on the downside)

5056-5038-5020-5002-4984.

Happy Trading !!!

Nifty view for 24.07.2012

Nifty today opened with gap down at 5163.30 and did not recover from there. It made a low of 5108.10 and closed shops at 5118.00. This is a very weak close on the spot nifty. The breach of 5184 the safety level on spot nifty saw it moving to this levels. On charts the cloud support look around 5050 levels. So sustaining below the 5100 level it may touch the cloud supports. Also stochastics is still headed down and still to make a bottom. It looks some steam is left on the downside as per stochastics. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.

No trade between 5100 and 5136(To avoid whipsaw)

Buy above 5136 sl of 5116

targets 5154-5172(add positions breakout on the upside)-

5190 -5208-5226-5244-5262.

Sell below 5100  sl of 5120

targets 5082-5064(add positions breakout on the downside)

5046-5028-5010-4992-4974.

Happy Trading !!!

Nifty View for 23.07.2012

Earlier on the weekly spot nifty had broken from the Ichimoku Cloud resistance and made a high of  5348.55.The momentum was not sustained in follow up weeks and we see two weekly red candles on the chart. Spot nifty has entered the Ichimoku Cloud by breaking the support 5235 and closed the week at 5205.10. Spot nifty needs to cross the level of 5235 to be positive for the expiry week. Below this level of 5235 it is suspectible to lower levels of 4942 of Ichimoku cloud support on weekly charts. On daily the Ichimoku clouds show supports of 5050-5030(not shown).RSI has gone below 70 levels on weekly charts and is falling down which needs to be looked at to judge the trend further. Intraday traders can look at the levels on spot nifty given below to trade on 23.07.2012.  

No trade between 5187 and 5223(To avoid whipsaw)

Buy above 5223 sl of 5203

targets 5241-5277(add positions breakout on the upside)-

5295 -5313-5331-5349-5367.

Sell below 5187  sl of 5207

targets 5169-5151(add positions breakout on the downside)

5133-5115-5097-5079-5061.

Happy Trading !!!

Nifty View for 20.07.2012

Nifty today opened with a gap up at 5249.90 to make a high of 5257.90. It made a low of 5233.70 and closed the day at 5242.70. The day movement was over with the gap up and it was sideways for the day. On charts we are above the 5208 level which is positive for spot nifty. Sustaining above 5208 we have resistance around the 5257-5329-5393  levels. MFI is trying to turn around and so is Stochastics. For tomorrow one can be positive above 5257 and below it may range between 5257 and 5208. Its again a weekly closing for spot nifty which will be important for the trend and closing above 5257 will be positive one. Intraday traders can look at the levels on spot nifty to trade on Friday.

No trade between 5225 and 5261(To avoid whipsaw)

Buy above 5265 sl of 5245

targets 5283-5301(add positions breakout on the upside)

5319-5338-5356-5374-5392.

Sell below 5225  sl of 5245

targets 5207-5189(add positions breakout on the downside)

5171-5153-5135-5117-5099.

Happy Trading !!!

Nifty View for 19.07.2012

Nifty has closed above 5200 after hitting a low of 5169.10. Spot nifty opened at 5199.10 and closed the day at 5216.30. Now the question is have we made a significant low on spot nifty. On charts if we look at the bollinger bands nifty price action is still below the 20 ma line. MFI is still headed down and also stochastics need to turn its head up. So spot nifty has to cover more distance on the upside to instill confidence on this one day move. Still sustaining above 5184 was crucial for spot nifty and it has been doing it consistently for three days in a row. So above 5184 we can be positive on spot nifty with hopes of recovery on nifty. Intraday traders can watch the levels on spot nifty given below to trade on Thursday.

No trade between 5198 and 5234(To avoid whipsaw)

Buy above 5234 sl of 5214

targets 5252-5270(add positions breakout on the upside)

5288-5306-5324-5342-5360.

Sell below 5198  sl of 5218

targets 5180-5162(add positions breakout on the downside)

5144-5126-5108-5090-5072.

Happy Trading !!!

Nifty View for 18.07.2012

The fall on spot nifty has not caught the expected momentum below the 5184 level. Today spot nifty made a low of 5181.70 and closed the day at 5192.90 with a loss of mere 5 points. The bears may be disappointed with spot nifty close. This makes the level of 5184 all the more important. Sustaining above 5200 spot nifty may recover to 5257 and then 5329. Sustaining above 5329 spot nifty may attain new highs. Again breach of 5184 on closing basis will warrant more correction on spot nifty. One can look for opportunities as and when they appear around those levels mentioned. Fibo Fans show spot nifty at support level. If supported here then may attempt the resistance as per chart shown.Intraday traders can look at levels on spot nifty given below to trade on Wednesday.

No trade between 5174 and 5211(To avoid whipsaw)

Buy above 5211 sl of 5191

targets 5229-5247(add positions breakout on the upside)

5265-5283-5301-5319-5337.

Sell below 5174  sl of 5194

targets 5156-5138(add positions breakout on the downside)

5120-5102-5084-5671-5049.

Happy Trading !!!

Nifty View for 17.07.2012

Nifty today hit a new low of 5190.50 and closed the day at the lower end at 5197.30. Nifty has closed below the 5200 for the first time after 28.06.2012. In all a correction of roughly 150 points from the high of 5348.55.  On charts we had supports of 5199 and the same are breached by today's close. If  nifty breaches the level of safety of 5184 then it may touch 5097 as shown in chart. Staying above 5199 nifty can attempt a recovery to the level of 5302. The channel support level is 5145 and breaching this can accelerate the fall to 5097. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.

No trade between 5179 and 5215(To avoid whipsaw)

Buy above 5215 sl of 5195

targets 5233-5251(add positions breakout on the upside)

5269-5287-5305-5323-5341.

Sell below 5179  sl of 5199

targets 5161-5143(add positions breakout on the downside)

5125-5107-5089-5071-5053.

Happy Trading !!!

Nifty View for 16.07.2012

Nifty closed the week at 5227.30 after making a low at 5216.90 and high of 5267.30 with a net loss of roughly 90 points on weekly basis. The last weeks high was hit twice in this week but could not be sustained further with a weekly high coming at 5348.55 just 15 points higher. This showed exhaustion at the higher price end and hence corrected to close 100 points down for the week. Nifty futures chart above shows the important levels to watch on it. Nifty is perched at the centre line of the channel in chart maintaining above this line will prompt some recovery up to 5300 levels. Breach of this line will take to the critical of 5184 and if that breached then we may expect more correction. Caution is requested in trading the nifty as its movements have not been consistent enough to trade. So keep booking profits as and when they appear. I am not biased or bearish also but keeping positions minimum will be the strategy for the week. Let some clarity develop on this move to take it further. So in general positive on nifty above 5329 , trading range between 5329 and 5184 . Below 5184 one can look to be out of nifty on the long side. Intraday traders can look at the levels on spot nifty given below to trade on Monday.

No trade between 5209 and 5245(To avoid whipsaw)

Buy above 5245 sl of 5225

targets 5263-5281(add positions breakout on the upside)

5299-5317-5335-5353-5371.

Sell below 5209  sl of 5229

targets 5191-5173(add positions breakout on the downside)

5155-5137-5119-5101-5083.

Happy Trading !!!

Nifty View for 13.07.2012

Nifty continues the one day up and then sideways move trick. Yesterday opened with gap down at 5240 and then made a high of 5261.40 and a low of 5217.70 and closed the day at 5235.30. On charts spot nifty has resistance of 5300 and 5338 and supports at 5190 and 5124.Last year 11 July marked the correction and we corrected till late August a fall of roughly 1000 points. The band between 5200 and 5400 is a sideways band for spot nifty with multiple supports and resistance.In recent past spot nifty has spent significant time in this band from 29/03/2012 to 04/05/2012 before giving a breakdown. So one needs to observe the violation of this band for breakouts. We have entered this band on 29.06.2012 and we may take sometime to breakout of this band. Intraday traders can look at the levels on spot nifty to trade on Friday.

No trade between 5217 and 5253(To avoid whipsaw)

Buy above 5253 sl of 5233

targets 5281-5299(add positions breakout on the upside)

5317-5335-5353-5371-5389.

Sell below 5217  sl of 5237

targets 5199-5181(add positions breakout on the downside)

5163-5145-5128-5110-5092.

Happy Trading !!!

Nifty in Current Scenario..

This a special update for my readers...

Nifty structure on daily chart has been 45 days rise and 45 x 1.618 = 72 days fall.If we are looking to repeat this structure then I am looking at a rise of 45 days.Current rise is a pattern of 5(up)-13(5x2.618) a complex correction again 5 day up and 5 day sideways ...today is 5th day again critical for this trend...also looking at the fib we are 0.618 x 45 = 28 day and today again 28 th day of this rise...so todays high and low will set the trend for remaining 0.382 part of this 45 days...my twobits......now the bottom on Nifty was 4757 and earlier top 5630 from where we retraced...so fall of 873 points..0.618 is 539 points..so 4757+539 = 5296 which will be critical for this trend..i.e. price equals time so do we get a CIT change in trend ...I will be watching it critically.....again my two bit...

Happy Trading!!!

Nifty View for 12.07.2012

Nifty had no follow up move to yesterday new high. It opened gap down at 5315.30 made a low of 5300.30 and high of 5336.50 and closed the day at 5306.30. Nifty action of one day up and then sideways is playing havoc on trend players. So taking the gains off the table as soon as they appears seem the rule for current trend. On charts tomorrow seems a critical day with fibo circle, fibo time and also fibo fans cluster . The range for tomorrow looks between 5365 and 5270 for breakout on either side. Also MFI has turned down with today's move from 72 to 67 which does not auger well. Intraday traders can look at the levels on spot nifty given below to trade on Thursday.

No trade between 5324 and 5288(To avoid whipsaw)

Buy above 5324 sl of 5304

targets 5342-5360(add positions breakout on the upside)

5388-5406-5424-5442-5460.

Sell below 5288  sl of 5308

targets 5270-5252(add positions breakout on the downside)

5234-5216-5198-5170-5152.

Happy Trading !!!

NIfty View for 11.07.2012

Nifty opened with a gap at 5286.6 and carried on from there the recovery to make a high of 5348.55 and close the day at the higher end of price action at 5345.35. So the correction on nifty proved to be a one day blip. On charts nifty has cluster of resistances as shown on chart. The fibo extension show a level of 5399 which looks to be achievable if the momentum continues ahead.. The spot nifty missed the pending channel target of 5350 yesterday. Sustaining above the 5350 will auger well for the trend. MFI is perched well at 72 level and increase in this level will set the trend for spot nifty. Intraday Traders can look at the levels on spot nifty to trade on Wednesday.

No trade between 5327 and 5363(To avoid whipsaw)

Buy above 5363 sl of 5343

targets 5381-5399(add positions breakout on the upside)

5417-5435-5453-5471-5489.

Sell below 5327  sl of 5347

targets 5309-5291(add positions breakout on the downside)

5273-5255-5237-5219-5201.

Happy Trading !!!

Nifty View for 10.07.2012

Nifty was in correction mode today after opening down. It made a high of 5300.60 and low of 5257.75 and closed the day 5275.15. In all today it could hold the 5300 mark at all. Sustaing below 5310 will make it suspectible to fall make new lows below 5257. Nifty should make a high above 5333 to maintain its momentum in next three days. On charts nifty has resistance at 5292 and support at 5184. The cloud supports are at 5058 and below it at 4915. Both RSI and CCI are headed down which shows lack of confidence for the bulls. Correction may set in sustaining  below the level of 5250. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.

No trade between 5257 and 5293(To avoid whipsaw)

Buy above 5293 sl of 5273

targets 5311-5329(add positions breakout on the upside)

5347-5365-5383-5401-5419.

Sell below 5257  sl of 5277

targets 5239-5221(add positions breakout on the downside)

5203-5185-5167-5149-5131.

Happy Trading !!!

Nifty Channeling Techniques

Nifty View for 09.07.2012

]

Nifty spot looked quite subdued for the week with high of 5333.65 and low of 5263.35 a range of 70 points. On charts spot nifty looks to be well supported by the centre line of the channel. For further momentum it should be above that centre line else it may find support along the bottom of the channel. MFI has gone sideways which shows the lack of buying. The range for spot nifty looks in between 5211 to 5396 anything above or below it can be considered a breakout on either side. Intraday traders can look at the levels on spot nifty to trade on Monday.

No trade between 5299 and 5335(To avoid whipsaw)

Buy above 5335 sl of 5315

targets 5353-5371(add positions breakout on the upside)

5389-5407-5425-5443-5461.

Sell below 5299  sl of 5319

targets 5281-5263(add positions breakout on the downside)

5245-5217-5209-5191-5173.

Happy Trading !!!

W PATTERN ON NIFTY

 Patterns do fail but having it on mind always help...to be 

taken with other analysis for confirmation....

Nifty View for 06.07.2012

Nifty made a new high at 5333.65 today again and closed the day at 5327.30. Nifty closed at the higher end of the day but the rise on nifty is not significant after 4 days of trading if compared with last weeks close at 5278.90. The uptrend has not gathered the momentum expected to touch the 5350 mark. If spot nifty sustain above the 5310 mark then we may see further gains. If it does not sustain above this level of 5310 we may see some correction up to 5250-5200 levels. On charts spot nifty hit the fibo fan resistance at 5330 level. Intraday traders can look at the levels on spot nifty given below to trade on Friday.

No trade between 5309 and 5345(To avoid whipsaw)

Buy above 5345 sl of 5325

targets 5363-5381(add positions breakout on the upside)

5399-5417-5435-5453-5471.

Sell below 5309  sl of 5329

targets 5291-5273(add positions breakout on the downside)

5255-5237-5219-5201-5183.

Happy Trading !!!

Nifty View for 05.07.2012

Nifty did made a new high today and made a higher low today which keeps the trend intact.The move has turned sideways for three days without significant rise in nifty. To maintain the momentum we need a big move or else we may see some more sideways to corrective move. On charts MFI still is strong and turned its head up once again which shows some buying happening in markets. If no new high is made tomorrow we may see some profit booking upto 5250-5200 levels in next two days. If momentum continues then our pending target of 5350 on spot nifty will get materialised.

No trade between 5284 and 5321(To avoid whipsaw)

Buy above 5321 sl of 5301

targets 5339-5357(add positions breakout on the upside)

5375-5393-5419-5437-5455.

Sell below 5284  sl of 5304

targets 5266-5248(add positions breakout on the downside)

5230-5212-5194-5176-5158.

Happy Trading !!!