Nifty View for 30.11.2012

Nifty futures above the pivot of 5747 showed acceleration for the trend and gave a all time high expiry for this year. Nifty futures into uncharted territory for this year is pleasing for those with patience all along the way up. The expiry for November at 5825 is a fact for some it may be still unbelievable  Now lets us look forward to the next series. The monthly pivot for December 2012 is at 5821 on the futures. The monthly resistance on the upside are 5898 and 5975. The monthly support on the downside are 5747 and 5673. The short term resistance are at 5859-5895 and supports are at 5821-5783. The ideal target could be 5922-5950 levels which would be stiff resistance on the upside and wellworth looking at as and when we approach it. So follow the levels to profit with the trend. Intraday traders can look at the levels on spot nifty given below to trade on Friday.

No trade between 5806 and 5844(To avoid whipsaws)

Buy above 5844 sl of 5824

targets 5863-5882(add positions, breakout on the upside),

5901-5920-5939-5958-5977.

Sell below 5806  sl of 5826

targets 5787-5768(add positions,breakout on the downside)

5749-5730-5711-5692-5673.

Happy Trading !!!

S & P 500 in Current Scenario...28.11.2012

S & P 500 hit the top of the red falling channel and is retracing from there....
For it to be positive it should breakout of this falling channel and should also stay within the green rising channel as shown in chart.

Happy Trading !!!

Nifty View for 29.11.2012

Nifty futures opened with a gap up of 15 points and moved up and closed the earlier breakdown gap within no time. This made the recovery smooth for the day and there was no looking back till close. The resistances of 5673 and 5701 were clipped on the way. Futures nearly touched the monthly pivot of 5747 as the high was 9 points short of it.  The close is at 5734.60 so trend players can hold now with stop loss at 5721. Intraday traders can look at the levels on spot nifty given below to trade on Thursday.

No trade between 5709 and 5746(To avoid whipsaws)

Buy above 5746 sl of 5726

targets 5765-5784(add positions, breakout on the upside),

5803-5822-5841-5860-5879.

Sell below 5709  sl of 5729

targets 5690-5671(add positions,breakout on the downside)

5652-5633-5614-5595-5576.

Happy Trading !!!

Nifty View for 27.11.2012

Nifty futures closed today with a 7 point gain after opening with a gap up but but could not sustain it. Things have been quite on nifty for a long time. Its still at the bottom of the channel devoid of momentum. So staying in strict with stop loss of 5625 on close will be the strategy. Intraday traders can look at the levels on spot nifty to trade on Tuesday. Wednesday is a holiday so no update for it.

No trade between 5608 and 5645(To avoid whipsaws)

Buy above 5645 sl of 5625

targets 5664-5683(add positions, breakout on the upside),

5702-5721-5740-5759-5778.

Sell below 5608  sl of 5628

targets 5589-5570(add positions,breakout on the downside)

5551-5532-5513-5494-5475.

Happy Trading !!!

Nifty View for 26.11.2012

Nifty futures closed the week at 5630 above the stop loss of 5625. The rising channel is still held by it. Monday opening will be important looking at the international markets weekly close. If it opens with a gap and sustains above it will need to be seen. Above 5636 we have 5673 as resistance and then 5701-5747. The supports are at 5599-5562 on the downside. Intraday traders can look at the levels on spot nifty to trade on Monday. 

No trade between 5608 and 5645(To avoid whipsaws)

Buy above 5645 sl of 5625

targets 5664-5683(add positions, breakout on the upside),

5702-5721-5740-5759-5778.

Sell below 5608  sl of 5628

targets 5589-5570(add positions,breakout on the downside)

5551-5532-5513-5494-5475.

Happy Trading !!!

Nifty View for 23.11.2012

Nifty futures had another positive day and held the channel. On the way it also crossed the first hurdle of 5636 and closed above it at 5639.50. But the rise was not easy as it struggled twice near the earlier close. The momentum move is yet to be seen. Now it has to close the gap above it. The next hurdle is at 5673 as nifty futures reach the high at 5657.65 intraday before giving up some gains. The trend stop loss could be raised to 5625 now and sustaining above the 5636 level is important. The weekly close will be important and close above the 5650 level will be a strong signal. But closing below 5636 will be not helping the trend.  The resistance is at 5673 and 5710 and supports are at 5636 and 5599. Intraday traders can look at levels on spot nifty to trade on Friday.

No trade between 5609 and 5647(To avoid whipsaws)

Buy above 5647 sl of 5627

targets 5666-5685(add positions, breakout on the upside),

5704-5723-5742-5761-5780.

Sell below 5609  sl of 5629

targets 5591-5572(add positions,breakout on the downside)

5553-5534-5515-5496-5477.

Happy Trading !!!

Nifty View for 22.11.2012

Nifty Futures today maintained the channel support and closed above 5600. The hurdles yet to be cleared are 5636 and 5673. Closing above the level of 5673 will make this recovery meaningful to make a move towards the monthly pivot of 5747. Not sustaining above 5636 will make it weak again for sideways to negative action. Nifty futures long stop loss can be at 5597 for this move. Intraday traders can look at the levels on spot nifty to trade on Thursday.

No trade between 5596 and 5634(To avoid whipsaws)

Buy above 5634 sl of 5614

targets 5653-5672(add positions, breakout on the upside),

5691-5710-5729-5748-5767.

Sell below 5596  sl of 5616

targets 5577-5558(add positions,breakout on the downside)

5539-5520-5501-5482-5463.

Happy Trading !!!

NIfty View for 21.11.2012

Nifty futures opened above 5600 but could not sustain above it and closed at 5583.40. The futures need to close above 5636 to be positive for any recovery. On charts its still hanging at the bottom of the channel after breaching it intraday. The levels are same as yesterday as we closed near it.

No trade between 5553 and 5590(To avoid whipsaws)

Buy above 5590 sl of 5570

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

5647-5666-5685-5704-5723.

Sell below 5553  sl of 5573

targets 5535-5516(add positions,breakout on the downside)

5495-5476-5457-5438-5419.

Happy Trading !!!

Nifty Critical Update 20.11.2012

Will it hold ? Time to be Cautious!!!

Happy Trading !!!

Nifty View for 20.11.2012

Nifty Futures had a calm day trying to stick to the weekly close and managed to close above it at 5594.50. The 15 minutes chart shows the important levels with the pivot coming at 5668 above it will mark a strong recovery. 

Nifty futures on the hourly chart is hanging on the wire for the day and closed within the channel. Now sustaining in the channel is the key to recovery. Closing the breakdown gap will be another thing to watch ahead. The resistances are 5636 and 5673 on the daily and then the monthly pivot at 5747 till then no long positions only trading is possible. Intraday traders can look at the levels on spot nifty to trade on Tuesday.

No trade between 5553 and 5590(To avoid whipsaws)

Buy above 5590 sl of 5570

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

5647-5666-5685-5704-5723.

Sell below 5553  sl of 5573

targets 5535-5516(add positions,breakout on the downside)

5495-5476-5457-5438-5419.

Happy Trading !!!

FTSE 100 TREND LEVELS

S&P 500 TREND LEVELS

Nifty View for 19.11.2012

Nifty Futures closed at the week very weak for this trend at 5570 breaking the 5600 level. The monthly pivot was at 5747 below which the trend is negative. The support levels below this pivot were 5673 and 5597 which have been breached now. The green channel of support was broken on Friday as shown in chart above. The nifty futures are precariously poised on the other channel support shown in voilet colour. Below 5597 we have the next levels coming at 5525-5451-5377. The two indicators show again the delicate situation on nifty futures. So sustaining below 5599 will make it prone to lower levels. The immediate resistances on the upside are at 5597-5636-5673 and supports are at 5561-5525-5487.

The Fibo Fans showing the important levels on charts and important breach with gap down on Friday. Sustaining below the green mark yellow line may take it to next fan support by closing the gap.

This chart shows the fibo retracement levels. On Monday for any recovery to be possible it should sustain above 5599 and close above 5636 atleast. The current trend is now sideways to negative. The futures should stay in the channel for any recovery. Intraday traders can look at the levels on spot nifty to trade on Monday.

No trade between 5555 and 5593(To avoid whipsaws)

Buy above 5593 sl of 5573

targets 5612-5631(add positions, breakout on the upside),

5650-5669-5688-5707-5726.

Sell below 5555  sl of 5575

targets 5536-5517(add positions,breakout on the downside)

5498-5479-5460-5441-5422.

Happy Trading !!!

Nifty View for 16.11.2012

Nifty futures breached the green channel with the open at 5655 and touched a low of 5620 and closed the day at 5647.60. The support below 5747 was 5673 and it was broken today. The support below it were 5636 and 5599. Today futures hit the target of 5636 and closed above it. Sustaining below 5636 will make it prone to 5599-5562-5525. The upside the resistance for futures is 5673-5710-5747. Intraday traders can look at the levels on spot nifty given below to trade on Friday.

No trade between 5612 and 5650(To avoid whipsaws)

Buy above 5650 sl of 5630

targets 5669-5688(add positions, breakout on the upside),

5707-5726-5745-5764-5783.

Sell below 5612  sl of 5632

targets 5593-5574(add positions,breakout on the downside)

5555-5536-5517-5498-5479.

Happy Trading !!!

Important Intraday Update for 15.11.2012

Nifty Futures Daily Chart

Nifty Futures Hourly Chart

Nifty Futures 15 Min Chart

Happy Trading !!!

Nifty View for 15.11.2012

Nifty futures lost some 40 odd points on Muhurat session to close at 5673.10. The momentum has been lost in few days after the break of 5800 and it has now closed below 5700. Above chart shows how its trying to close in the positive territory of the MA band.  Below our monthly pivot of 5747 we have support of 5673 and we are very near to it. The support below this level is at 5636-5599 on the future. Resistance is at 5710 and 5747. The gap which was support is being slowly closed with range expansion on downside. The momentum move will come only above 5747 so one needs to keep watch on downside on breach of 5673. The Guppy bunch of averages show strength with the short above the long ones. One can observe how it took support in earlier two falls.  Intraday traders can watch the levels on spot nifty given below to trade on Thursday.

No trade between 5648 and 5686(To avoid whipsaws)

Buy above 5686 sl of 5666

targets 5705-5724(add positions, breakout on the upside),

5743-5762-5781-5800-5819.

Sell below 5648  sl of 5668

targets 5629-5610(add positions,breakout on the downside)

5591-5572-5553-5534-5515.

Happy Trading !!!

Nifty View for 13.12.2012

Nifty Futures closed today at 5714.90 after moving in a range of 40 points. Nifty futures have been portraying a sideways correction and its been a time correction yet. Whenever we have such correction/consolidation we can be sure the breakout/breakdown will be a vicious one. The trend is bullish till the green channel is held. Its sideways in the voilet channel  The break of voilet channel will be decisive for   short/medium term depends on how the levels are achieved. The break of the yellow channel will decide the long term trend. So till it is within this green channel there is hope for the bulls in short term. Nifty futures have held the downside levels very well. The level of 5680 needs to be watched critically at the end of the day for this trend. Closing below this level will make it prone to further downside. Intraday traders can look at the levels on spot nifty given below to trade on Muhurat Session. 

Wishing All  " Happy Diwali and a Prosperous New Year !!! "

No trade between 5665 and 5703(To avoid whipsaws)

Buy above 5703 sl of 5683

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

5760-5779-5798-5817-5836.

Sell below 5665  sl of 5685

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

5608-5589-5570-5551-5532.

Happy Trading !!!

Nifty View for 12.11.2012

Nifty futures gave most of the gains of the week and closed at 5725. The monthly pivot was at 5747 and stop loss was at 5727 so it was hit for trend players. Trend player can again long above the level of 5747 as and when it comes with the same stop loss for targets of 5922-5950. Nifty future have maintained the channel of short term green colour and breach of this channel may take it to the bottom of the mid term channel voilet colour. The green colour channel has some space of 3-4 days if the action remains sideways instead of breaching it. Intraday traders can look at the levels on spot nifty given below to trade on Monday. Next week is truncated one with Muhurat Session on Wednesday 13 th November from 3.45 pm to 4.30 pm. November 14 is a holiday.

No trade between 5667 and 5705(To avoid whipsaws)

Buy above 5705 sl of 5685

targets 5724-5743(add positions, breakout on the upside),

5763-5782-5801-5820-5839.

Sell below 5667  sl of 5687

targets 5648-5629(add positions,breakout on the downside)

5630-5611-5592-5573-5554.

Happy Trading !!!

Nifty View for 09.11.2012

Nifty futures opened with a gap down due to global cues and closed at 5767.00. The close is above the monthly pivot so the trend is positive at day end. The nifty futures chart show various perspectives. The main trend shown by the voilet channel is up. The intermediate channel shown the yellow colour is up. The short term trend shown by the aqua channel is up as the price action moved into the channel at close. Longs could be hold with monthly pivot as stop loss or the yellow channel bottom as stop loss for the ones with deep pockets. The top three indicators are in positive zones but could turn negative if the price action continues to fall again. RSI is at critical juncture and if it sustains above the 60 level the move will gain strength further. The channel on RSI is rising and yet to be broken. The 50% retracement level of the rise is at 5716.00 which could be used as another support. Incidently the close of nifty futures is at 75% level of the rise and sustaining above it will be positive for it. So Nifty futures are interestingly poised for weekly close after a good breakout on Tuesday. Intraday traders can use the levels on spot nifty given below to trade on Friday.

No trade between 5720 and 5758(To avoid whipsaws)

Buy above 5758 sl of 5738

targets 5777-5796(add positions, breakout on the upside),

5815-5834-5853-5872-5891.

Sell below 5720  sl of 5740

targets 5701-5682(add positions,breakout on the downside)

5663-5644-5625-5606-5587.

Happy Trading !!!

S&P 500 In Current Scenario 11/07/2012

SR. NO.	CHANNEL	START DATE	TOP	CENTER	BOTTOM
1	PINK	06/04/2012	1510.00	1463.00	1418.00
2	GREEN	10/04/2011	1526.00	1451.00	1374.00
3	RED	03/05/2009	1602.00	1440.00	1280.00
4	YELLOW	10/10/2007	1472.00	1284.00	1100.00

 

As mentioned earlier 1388.00 is a critical level for S&P 500 Index.

Chart show Regression Channel from start dates mentioned.

Currently we have breached the Pink channel are looking for support at the bottom of the green channel.

For any sizeable recovery the price action should move back in the Pink Channel...

Happy Trading !!!

Nifty View for 08.11.2012

Nifty futures were today resisted at the 78.60%  fibo extension as shown in chart and the high made was 5818.80. The high made on October 5 is 5873.65 and low made in this series on October 31 is 5613.20. So we have seen a rise of 205 points in this series in 9 trading days.On charts we see nifty moving the rising channel and today also it took support at the channel bottom which was a good buy for the day. As long as nifty is moving in this rising channel one can hold longs. As per our resistance on the upside we had level of 5821 and which was nearly achieved and nifty future closed below it. Further strength can be seen on crossing of 5821 with targets at 5898 our second resistance. The supports of nifty future are at 5784 and 5747. Intraday traders can look at the levels on spot nifty to trade on Thursday.

No trade between 5741 and 5779(To avoid whipsaws)

Buy above 5779 sl of 5759

targets 5798-5817(add positions, breakout on the upside),

5836-5855-5874-5893-5912.

Sell below 5741  sl of 5761

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

5684-5665-5646-5627-5608.

Happy Trading !!!