Nifty View for 01.11.2012

Nifty had a pause today after making a bottom at 5613.20 and closed the day at 5643.80 but could not sustain above 5650 levels. The pivot is at 5640 and we closed near it. Below 5640 the targets could be 5559 and 5527 as shown on charts. The bottom of this week will be significant for next two weeks as recovery can be expected from next week. The future targets for this move are around 5922-5950 levels. Intraday traders can look at the levels on spot nifty to trade on Thursday.

No trade between 5601 and 5638(To avoid whipsaws)

Buy above 5638 sl of 5618

targets 5657-5676(add positions, breakout on the upside),

5695-5714-5733-5752-5771.

Sell below 5601  sl of 5621

targets 5582-5563(add positions,breakout on the downside)

5544-5525-5506-5487-5468.

Happy Trading !!!

NIfty View for 31.10.2012

Nifty finally broke down after weeks of sideways move and timing was the rates policy announced today. As shown in charts the 5640 is the level below which the trend is down. The downside targets possible may be up to 5549 on the futures. Spot nifty has closed below the psychological level of 5600 after many days. The correction could continue till end of week and reversal may be seen from next week if not early. The upside targets will depend upon the lows made in this correction. Deeper the low formed the target on the upside will get reduced. Currently the upside targets are 5922-5950 levels after the correction gets over. So any recovery if seen will be on crossing the level of 5640 and then 5680-5738-5786. Intraday traders can look at the levels given below on spot nifty to trade on Wednesday. 

No trade between 5579 and 5617(To avoid whipsaws)

Buy above 5617 sl of 5597

targets 5636-5655(add positions, breakout on the upside),

5674-5693-5711-5730-5749.

Sell below 5579  sl of 5599

targets 5560-5541(add positions,breakout on the downside)

5522-5503-5484-5465-5446.

Happy Trading !!!

Stocks in Current Scenario for 30.10.2012

Bharti Airtel

Reliance Infra

State Bank of India

Tata Motors

Tata Power

Tata Steel

Wipro

Nifty View for 30.10.2012

Nifty futures are still in a range and had a flat closing today also. The above chart shows some levels as per the trend on the daily chart for futures. The side ways movement may continue for this week also with some volatility with it. Traders should be vigilant for breakouts on either side as the move may mature soon. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.

No trade between 5647 and 5684(To avoid whipsaws)

Buy above 5684 sl of 5664

targets 5703-5722(add positions, breakout on the upside),

5741-5760-5779-5798-5817.

Sell below 5647  sl of 5667

targets 5628-5609(add positions,breakout on the downside)

5590-5571-5552-5533-5514.

Happy Trading !!!

Nifty View for 29.10.2012

Nifty Futures have closed the week at 5704 below our pivot level of 5747 which is negative for the short term. The above chart shows regression channels on the daily futures whose centre line is at 5244. The upper bands are at 5433-5622-5810-5999. The lower bands are at 5057-4870-4680-4492. The current action is between the bands of 5622 and 5810 so the trend on daily is up. The breakout can be considered on breach out of this band i.e. positive above 5810 and negative below 5622.

The above chart shows the regression bands on the hourly futures whose centre line is at 5737. The upper bands are at 5793-5845-5900-5955. The lower bands are at 5682-5629-5575-5517. The current action is between 5682 and 5737 so the hourly trend is down and will turn up on the cross of 5737.

The above chart shows the regression bands on the 15 minute future whose centre line is at 5609. The upper bands are at 5639-5665-5694-5724. The lower bands are at 5580-5551-5523-5494. The current action is between 5694 and 5724 so the intraday trend is up and breakout can be considered above 5724.

Intraday traders can look at the levels on spot nifty to trade on Monday given below.

No trade between 5646 and 5683(To avoid whipsaws)

Buy above 5683 sl of 5663

targets 5702-5721(add positions, breakout on the upside),

5740-5759-5778-5797-5816.

Sell below 5646  sl of 5666

targets 5627-5608(add positions,breakout on the downside)

5589-5570-5551-5532-5513.

Happy Trading !!!

Gann Angles on Nifty Monthly Chart For November Series

Above chart show Monthly Nifty Futures with Gann Angles...
Breakout for November Series is at 5860.
Support at 5710 and then at 5548..
Critical level for this Trend is at 5276 for November Series..


Happy Trading !!!

Gann Angles on SPX 25.10.2012

On S& P 500 the level of 1397 is critical to watch as per Gann Angles..

Happy Trading !!!.

Nifty View for 26.10.2012

Nifty Futures closed on expiry at 5705.30 with a gain of 55 points for the October series. The low of this series at 5637.40 which is the critical level for November series.  The pivot for November Series is at 5747 and the close for this series was at 5751. The resistance on the upside for nifty futures are 5821 and 5898. The supports on the downside are 5670 and 5595. Positional players can buy above 5747 with stop loss of 5727 for the targets given above. Fridays closing will be important and close above the pivot will be positive.

Intraday traders can look at the levels on nifty futures given below to trade on Friday. The holiday of Friday has been shifted to Saturday so markets are open tomorrow. Please visit above site for clarifications.

http://www.nseindia.com/global/content/market_timings_holidays/market_timings_holidays.htm

No trade between 5732 and 5770(To avoid whipsaws)

Buy above 5770 sl of 5750

targets 5789-5808(add positions, breakout on the upside),

5827-7846-5865-5884-5903.

Sell below 5732  sl of 5752

targets 5713-5694(add positions,breakout on the downside)

5675-5656-5637-5618-5599.

Happy Trading !!!

Nifty View for 25.10.2012

Nifty futures could cross the high of Monday on Tuesday and moved in a very narrow range and closed at 5695.50. If we look at this October series we have a high of 5855.60 and low of 5637.40 for this series. The expiry for September series was at 5649.50. We are currently closing above it after dipping below it once. Interestingly we have not closed below it i.e 5649.50. It would be the level to watch for this expiry on last trading day and give some clues for the next one. On nifty futures we need to close above the level of 5750 for the first sign of recovery. The sideways move is continuing for nifty futures from 5650 to 5750 so trend players can take positions on either side on breakout of these levels. Intraday traders can look at the levels on spot nifty given below to trade on Thursday. Friday is a holiday no update for it will be provided.

No trade between 5673 and 5710(To avoid whipsaws)

Buy above 5710 sl of 5690

targets 5729-5748(add positions, breakout on the upside),

5767-5786-5805-5824-5843.

Sell below 5673  sl of 5693

targets 5654-5635(add positions,breakout on the downside)

5616-5597-5578-5559-5540.

Happy Trading !!!

Nifty View for 23.10.2012

Nifty sideways movement continues with it moving from the lower end of channel to upper end of channel. A close above 5700 is positive but will it be sustained is the big question considering the recent moves on it. On nifty futures the close is at 5718 as seen in chart and just touching the resistance of the red trend indicator. For nifty future to be positive it has to cross the 5781 level and show strength above it.  The keenly watched  level on downside is 5625 which has been defended well yet. So playing within the channel has been profitable for last week and strategy remains same until we have a breakout on either side. Keeping small volumes of trades will be beneficial seeing the truncated trading week ahead. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday. Wednesday being holiday no update for it.

No trade between 5698 and 5736(To avoid whipsaws)

Buy above 5736 sl of 5716

targets 5755-5774(add positions, breakout on the upside),

5793-5812-5831-5850-5869.

Sell below 5698  sl of 5718

targets 5679-5660(add positions,breakout on the downside)

5641-5622-5603-5584-5565.

Happy Trading !!!

S & P 500 View for 22.10.2012

S & P 500 is currently trading at the bottom range and is having supports at 1421.88.  
Breach of 1421.88 could lead to 1406.25 with intermediate supports at 1417.97-1414.08-1410.16. 
Resistance at 1437.50 with intermediate resistances at 1425.78-1429.65-1433.55. 
Major weekly levels above 1437.50 are 1453.13-1468.75-1484.38 and below 1437.50 are 1421.88-1406.25-1390.63.

Happy Trading !!!

Nifty View for 22.10.2012

The two charts for nifty futures show the picture for short term(top) and long term(bottom). On the short term chart level of 5625 is important and was strongly defended till Friday. Breach of this level could take us to next of support at 5469 with intermediate supports at 5587-5547-5507. The Demark indicator shows the trend is down clearly with yellow arrows showing two intermediate peaks. Also the trend indicator(red on chart) has turned down. The long term chart shows the rising channels(green in colour) and falling channel(red in colour). The breach of the green channel bottom will clearly put this trend in doubt. In all looks like active three days to expiry on this truncated trading week. Intraday traders can look at the levels on spot nifty given below to trade on Monday.

No trade between 5665 and 5703(To avoid whipsaws)

Buy above 5703 sl of 5683

targets 5722-5741(add positions, breakout on the upside),

5750-5769-5788-5807-5826.

Sell below 5665  sl of 5685

targets 5646-5627(add positions,breakout on the downside)

5608-5589-5570-5551-5532.

Happy Trading !!!

Fibonacci extensions on S&P 500 19.10.2012

Let us look at the S&P 500 using the Fibonacci extension tool.

Above table shows the Low(point1), High(point2) and Higher Low(point3) for each of the Fibonacci extensions. In the current scenario the levels in green colored box are significant support and resistances which justifies our monthly pivot of 1444 as per the cluster of supports near it.

Happy Trading  !!!

NIFTY VIEW FOR 19.10.2012

Nothing to add here for Nifty from bottom end range to top range end of the 100 points. Lets us see if we hold the range at the upper end or come back into the zone of indecision. The levels are same as discussed earlier for trend players. Intraday Traders can look at the levels on spot nifty given below to trade on Friday. Recently Fridays have been breakout days for nifty so an interesting close again for the week.

No trade between 5700 and 5739(To avoid whipsaws)

Buy above 5739 sl of 5719

targets 5758-5777(add positions, breakout on the upside),

5796-5815-5834-5853-5872.

Sell below 5700  sl of 5720

targets 5681-5662(add positions,breakout on the downside)

5643-5624-5605-5586-5567.

Happy Trading !!!

Nifty View for 18.10.2012

Nifty looks trapped between the 100 points of 5650 to 5750. Its been a sideways week yet but one never knows when a trending move will come up. So one needs to be vigilant and look for opportunity as and when it happens. Its been a 100 point channel and currently we are at the bottom of the 200 points range from the top of 5850. There have been bounces to the 5750 levels but no close above it. Breach of 5650 may add 100 points on the down side if its a quick move. In such sideways situation profit booking with small stop losses will work and carrying forward the positions can be frustrating. If you get a move either side do trail your profits when you see them or you may loose it or will hit stop losses after seeing them.  For the remaining series the 5625 is the pivot level and resistance are 5700 and 5776. Supports are at 5551 and 5476. Intraday traders can look at the levels on spot nifty given below.

No trade between 5641 and 5679(To avoid whipsaws)

Buy above 5679 sl of 5659

targets 5698-5717(add positions, breakout on the upside),

5736-5755-5774-5793-5810.

Sell below 5641  sl of 5661

targets 5622-5605(add positions,breakout on the downside)

5586-5567-5548-5529-5510.

Happy Trading !!!

Nifty View for 17.10.2012

Nifty sideways movement was on again today by closing at the lower end. At start of day it was at the top end of the range. So till a decisive break out of the range of 100 points is not achieved it will be frustrating the traders. Looking at the red rising channel nifty has been retracing after hitting the top. Also it is retracing after touching the upper band of Bollinger Bands. RSI today has closed below 60 level so for any reversal on the upside it has to sustain above this level. Breach of 5625 on the future may accelerate the fall. Resistance on the upside is still 5728-5750 level and supports are at 5628-5587. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.

No trade between 5629 and 5667(To avoid whipsaws)

Buy above 5667 sl of 5647

targets 5686-5705(add positions, breakout on the upside),

5724-5743-5762-5781-5800.

Sell below 5629  sl of 5649

targets 5610-5581(add positions,breakout on the downside)

5562-5543-5524-5505-5486.

Happy Trading !!!

Nifty View for 16.10.2012

Nifty futures is moving in a range of 100 points of 5750 and 5650. A bigger range of 300 points is the deciding zone for it from 5550 to 5850 on the futures. This correction is time consuming and yet to make a huge dent on the price of futures. So for near term its better for trend players to stay out till the bigger zone of 300 points is not violated. It always happen when there is a huge run up in small time and price has to catch with time. It can be frustrating for trend traders with no clear direction. On futures charts the RSI is between 40 to 60 range break on either side will give a good move. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.

No trade between 5668 and 5706(To avoid whipsaws)

Buy above 5706 sl of 5686

targets 5725-5744(add positions, breakout on the upside),

5763-5782-5801-5820-5839.

Sell below 5668  sl of 5688

targets 5649-5630(add positions,breakout on the downside)

5621-5602-5583-5564-5545.

Happy Trading !!!

S & P 500 View in Current Scenario

S & P 500 has breached the rising channel support shown the dark red line and currently poised at the Line of Control shown in charts. Also the recovery got stalled at the top end of the channel as shown in chart. For any recovery signs it has to move out of the falling channel. Continuing down in this falling channel may take it to 1395 levels. Break out of the channel with closing above the monthly pivot of 1444 will be positive for it.

Happy Trading !!!

Nifty View for 15.10.2012

Spot Nifty opened today gap down and then recovered the losses and gave up the same to close at 5676.05.  Roughly a weekly loss of 70 odd points on the spot index and net loss of 139 points from the high of 5815.35. On nifty futures the weekly close is at 5683 as shown in charts. Nifty reversed from the channel top, Bollinger Band level and RSI could not cross the 60 levels and dropped to the 40 levels.On futures the stop loss for this down is at 5711 and probable targets are 5638-5613 and 5577 as and when they come. The momentum on the down side may increase on breach of low at 5650. Sideways movement is expected between the zones of 5710 and 5650. Above 5711 the probable targets on nifty futures are 5738-5786-5832. Intraday traders can look for the levels below on spot nifty to trade on Monday.

No trade between 5657 and 5695(To avoid whipsaws)

Buy above 5695 sl of 5675

targets 5714-5733(add positions, breakout on the upside),

5752-5771-5790-5809-5828.

Sell below 5657  sl of 5677

targets 5638-5619(add positions,breakout on the downside)

5600-5581-5562-5543-5524.

Happy Trading !!!

S & P 500 View in Current Scenario

Andrew Pitchfork on S & P 500 has given the breakout move....
Fibonacci extension target of 261.8% is hit at 1442.00.
Strength above 1442 with targets at 423.6% level at 1449.45
Supports at 161.8% level of 1437.85..


Happy Trading !!!

Nifty View for 12.10.2012

Spot Nifty was sideways for the day crossing above and below the closing level of yesterday. Suddenly at 1.00 pm it broke out on the upside to high of 5721.10 close the day at 5708.05 giving some relief after a fall from Friday. Its a corrective bounce back which can turn again down by reversing. On hourly charts of nifty futures we see the price action following a downward channel and bouncing from the bottom of the channel with a positive divergence on RSI intraday. The top was given the negative divergence marked on the chart. Also the price action ie bounce is hitting the red bollinger band level and also hit the 60 level on RSI. For the move to sustain it should move this red bollinger band level of 5741 and not breach it. It should be supported by RSI crossing the resistance of 60. So sustaining below 5741 the move may fizzle out and try to reach the central band at 5554.So supports on futures are at 5628-5554. and resistance above 5741 are 5818-5895. 

No trade between 5689 and 5727(To avoid whipsaws)

Buy above 5727 sl of 5707

targets 5746-5765(add positions, breakout on the upside),

5784-5803-5821-5840-5851.

Sell below 5689  sl of 5709

targets 5670-5651(add positions,breakout on the downside)

5632-5613-5594-5575-5556.

Happy Trading !!!

Nifty View for 11.10.2012

Spot nifty continued its downtrend today and closed at 5652.15 with a loss of 52 points. On nifty futures we had support at 5698 which was breached  intraday and the downtrend continued with it.  The next target on the downside could be 5608-5537-5467. Now on the upside resistance are 5698-5738-5786. Positional traders can lower the stop loss to 5698 and hold positions. Intraday traders can look at the levels on spot nifty given below to trade on Thursday.

No trade between 5633 and 5671(To avoid whipsaws)

Buy above 5671 sl of 5651

targets 5690-5709(add positions, breakout on the upside),

5728-5747-5766-5785-5804.

Sell below 5633  sl of 5653

targets 5614-5595(add positions,breakout on the downside)

5576-5557-5538-5519-5500.

Happy Trading !!!

Nifty View for 10.10.2012

Spot Nifty continued the trend today sideways to down after opening with a gap up and then moving sideways with  gain for the day to close at 5704.60. On chart nifty futures have taken support twice at the 23.60% retracement level of 5698. Breach of this level may lead further to the downside at next fibo levels shown on chart. The resistance again is at 5738-5786-5832. The correction may take longer timewise than price so the premiums of options may erode faster in a sideways move. So it will be prudent to stay out till a clear trend is portrayed by nifty futures. This up move was for 19 days so expect correction to last for 10-19 days from Friday. Today was the third day of correction. Trend players can enter again at 5832 as when it comes and short below 5738 could be taken with stop loss of 5763 for targets of 5698-5608-5537-5467. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.

No trade between 5686 and 5724(To avoid whipsaws)

Buy above 5724 sl of 5704

targets 5743-5762(add positions, breakout on the upside),

5781-5800-5819-5838-5857.

Sell below 5686  sl of 5706

targets 5667-5648(add positions,breakout on the downside)

5629-5610-5591-5572-5553.

Happy Trading !!!