Nifty View for 30.04.2013

Nifty had a small recovery at the end of the day after opening in the green and staying in green for the day. Futures have closed above the intermediate resistance(not the level one resistance mentioned earlier) of 5910. Level one  hurdle for the futures is at 6063 above which we may see further momentum. Trend players should watch both levels with interest for taking positions.Nothing has changed much on the indicators. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.   

Spot  Nifty Levels for Trading on Tuesday :

No trade between 5885 and 5923(To avoid whipsaws)

Buy above 5923 sl of 5903

targets 5942-5961(add positions, breakout on the upside),

5980-5999-6018-6037-6056.

Sell below 5885  sl of 5905

targets 5866-5847(add positions,breakout on the downside)

5828-5809-5790-5771-5752.

Happy Trading !!!

Nifty View for 29.04.2013

Nifty futures the closed the week at 5889 after opening in the red and staying in the red for the day. The resistance of 5910 of level one is critical and staying above it will be positive for the trend. Intraday level to watch on futures will be 5872 below which will be negative for the day. Below 5872 the level of 5828 will be the level to watch. Price action has moved out of the falling channel which is positive. On the indicator MFI has reached near the 80 levels which has been a stiff resistance in recent past. RSI is near another resistance level of 68 and needs to stay above it for further momentum. MACD has turned positive for the first time after 13.02.2013 and needs to be watched with interest.  Intraday traders can watch the levels on spot nifty given below to trade on Monday.

Spot  Nifty Levels for Trading on Monday :

No trade between 5852 and 5891(To avoid whipsaws)

Buy above 5891 sl of 5871

targets 5910-5929(add positions, breakout on the upside),

5948-5967-5986-6005-6024.

Sell below 5852  sl of 5872

targets 5833-5814(add positions,breakout on the downside)

5795-5776-5757-5738-5719.

Happy Trading !!!

Nifty View for 26.04.2013

Nifty futures closed the April series on high at 5916.30, which was a good recovery at the end of the series. The next series of May becomes very critical for as the saying goes "SELL IN MAY AND GO AWAY ". So one needs to be cautious ahead. For the May series the pivot is at 5772 and we are above it so the trend is positive. The major resistance levels are 6063 and 6216. The major support levels for the series are at 5619 and 5327. The intermediate resistances for the short term are at 5917 and 6063. The intermediate supports for the short term are at 5695 and 5618. Currently we are near the intermediate resistance and staying above it will be positive for the futures. So trend players can use this levels for the May series trading. Intraday traders can look at the levels on nifty futures given below to trade on Friday.

 Nifty Futures Levels for Trading on Friday :

No trade between 5897 and 5936(To avoid whipsaws)

Buy above 5936 sl of 5916

targets 5955-5974(add positions, breakout on the upside),

5993-6012-6031-6050-6069.

Sell below 5897  sl of 5917

targets 5878-5859(add positions,breakout on the downside)

5840-5821-5802-5783-5764.

Happy Trading !!!

Nifty View for 25.04.2013

Nifty futures closed at neutral levels after making a low 5795.60. Sustaining above 5834 we may hit 5872 and then 5910. 5910 is the level one resistance and will be stiff one and closing above this level will auger well for next series.Use the levels given earlier for trend players. Intraday traders can use the levels on spot nifty given below on Thursday for expiry.

Spot Nifty Levels for Trading on Thursday :

No trade between 5817 and 5857(To avoid whipsaws)

Buy above 5857 sl of 5837

targets 5876-5895(add positions, breakout on the upside),

5914-5933-5952-5971-5990.

Sell below 5817  sl of 5837

targets 5798-5779(add positions,breakout on the downside)

5760-5741-5722-5703-5684.

Happy Trading !!!

Nifty View for 23.04.2013

Apologies for no posts for past few days been on vacation. Lets see where we are currently on Nifty futures. Monthly pivot at 5757 for futures so we are positive on the trend above it. Intermediate resistance at 5834 so above it again positive. The level one resistance is at 5910 which can be achieved if we cross the level of 5872 on the futures. On charts of futures we see the futures are top of the channel see we need to cross and sustain above it for further momentum.This channel top could be a resistance to reckon with for futures. Some levels as per this software are marked on chart are to be watched for further clues. On indicators RSI has moved above the level of 55 and needs to sustain above it with resistance at 68. MFI is at previous highs at 60 levels and needs to cross it for further upside. MACD is at crucial levels near the zero level and needs to cross and sustain above it for more positiveness. Watch the vertical line marked when it went below zero and change in trend from thereon. Trend players can use the levels given above to trade further. Intraday players can use the levels given below on spot nifty to trade on Tuesday.

Spot Nifty Levels for Trading on Friday :

No trade between 5815 and 5855(To avoid whipsaws)

Buy above 5855 sl of 5835

targets 5874-5893(add positions, breakout on the upside),

5911-5930-5949-5968-5987.

Sell below 5815  sl of 5835

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

5758-5739-5720-5701-5682.

Happy Trading !!!

Nifty View for 12.04.2013

Nifty futures opened in green and stayed in green for the day with one breach below the yesterday's close line. Price action has moved in the channel again now we need to cross 5640 the intermediate level for futures. Sustaining above this level will be the key for further recovery. Intraday traders can look at the levels on the spot nifty given below to trade on Friday. It will an important close for the week for this trend.

Spot Nifty Levels for Trading on Friday :

No trade between 5575 and 5613(To avoid whipsaws)

Buy above 5613 sl of 5593

targets 5632-5651(add positions, breakout on the upside),

5670-5689-5708-5727-5746.

Sell below 5575  sl of 5595

targets 5556-5537(add positions,breakout on the downside)

5518-5499-5480-5461-5442.

Happy Trading !!!

Nifty View for 11.04.2013

Nifty Futures opened in green and stayed in the green for the day barring two instances of dipping below the close line to close the day at 5553.70. We have closed above the monthly support level of 5524 which is first sign of positiveness by futures. So trend players can watch this level of 5524 if taken longs today. 

(15 min charts for futures with levels)

Now futures need to show some strength by closing above the intermediate level of 5640 level. But one thing to be kept in mind is we are in downtrend till the level of 5757 is not crossed. Intraday traders can look at the levels on spot nifty to trade on Thursday given below.

Spot Nifty Levels for Trading on Tuesday :

No trade between 5540 and 5577(To avoid whipsaws)

Buy above 5577 sl of 5557

targets 5596-5615(add positions, breakout on the upside),

5634-5653-5672-5691-5710.

Sell below 5540  sl of 5560

targets 5521-5502(add positions,breakout on the downside)

5483-5464-5445-5426-5407.

Happy Trading !!!

Nifty View for 10.04.2013

Nifty futures broke critical level marked on chart above. Also broke down out of the channel which is impulsive move. Our monthly support level no 1 was at 5524 and it was broken today and we closed below it at 5495.85. So now for intraday the resistance is at 5524 and recovery possible above that for the day. Trend level below this is 5371 with intermediate supports at 5447. The intermediate resistance above 5524 is at 5640 for trend players.  The monthly pivot at 5757 is major resistance now and trend will be positive above it. Intraday traders can look at the levels on spot nifty given below to trade on Wednesday.

Spot Nifty Levels for Trading on Tuesday :

No trade between 5477 and 5514(To avoid whipsaws)

Buy above 5514 sl of 5494

targets 5535-5556(add positions, breakout on the upside),

5577-5598-5617-5638-5659.

Sell below 5477  sl of 5497

targets 5458-5439(add positions,breakout on the downside)

5420-5401-5382-5363-5344.

Happy Trading !!!

Nifty View for 09.04.2013

Nifty futures opened in green with a gap up but gave the gains soon and went sideways for the day to close at 5561.50. On charts we see the price not doing much and at the bottom of the falling channel.  Nothing looks changed on Monday so use the trend levels give earlier for trade. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday.

Spot Nifty Levels for Trading on Tuesday :

No trade between 5524 and 5562(To avoid whipsaws)

Buy above 5562 sl of 5542

targets 5581-5600(add positions, breakout on the upside),

5619-5638-5657-5676-5595.

Sell below 5524  sl of 5544

targets 5505-5486(add positions,breakout on the downside)

5467-5448-5429-5410-5391.

Happy Trading !!!

Nifty View for 08.04.2013

Nifty futures opened in red and remained red for the day after forming a new low at 5552.80 and closed the day and week at 5560.15. On price we see the falling channel held and we are at the bottom of the channel. On chart the critical level is marked and we need to stay above it for any recovery hopes. We are in downtrend below the monthly pivot level of 5757. Currently we are near to our monthly support level no 1 at  5524.  If we maintain this level and stay above it, we have intermediate resistance at 5640 and then big resistance at 5757. All recovery chances can be thought above this levels of 5757 for the trend players.  If we go below the level of 5524 then intermediate support is at 5447 and monthly support level no 2 is at 5371. On the indicators, RSI is struggling at 34 level after hitting briefly the 55 level. It needs to stay above the 34 level and dips below this level could take it to 21 levels, the earlier low. On MFI we are just below the 20 level and for any recovery we should stay above 20 level and try to cross the 40 level and hit up to 60 level which was hit earlier on it. Intraday traders can look at the levels on spot nifty given below to trade on Monday.

Spot Nifty Levels for Trading on Monday :

No trade between 5535 and 5572(To avoid whipsaws)

Buy above 5572 sl of 5552

targets 5591-5610(add positions, breakout on the upside),

5639-5658-5677-5696-5715.

Sell below 5535  sl of 5555

targets 5516-5497(add positions,breakout on the downside)

5476-5457-5438-5419-5400.

Happy Trading !!!

Nifty View for 05.04.2013

Nifty futures opened in the red and stayed in red for the day. Below the monthly level of 5757 the level of 5698 was breached yesterday so the trend was negative and it could not cross this level of 5698. Today we went below our monthly intermediate support level of 5640 and hit the low of 5583.30. The monthly support level no 1 is at 5524 which needs to watched. For tomorrow we need to cross the level of 5640 for any positiveness or recovery.We are currently at the bottom of the falling channel we need to stay in the channel to avoid further damage. Intraday traders can look the levels on spot nifty given below to trade on Friday.

Spot Nifty Levels for Trading on Friday :

No trade between 5556 and 5593(To avoid whipsaws)

Buy above 5593 sl of 5673

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

5650-5669-5688-5707-5726.

Sell below 5553  sl of 5573

targets 5534-5515(add positions,breakout on the downside)

5496-5477-5458-5439-5420.

Happy Trading !!!

Nifty View for 04.04.2013

Nifty futures opened the day below 5757 which was negative start for the day continued in red to hit the target of 5698 and then closed below this level at 5683.75. Tomorrow we need to be positive above 5698 with 5757 as resistance. Above this level we can be positive for the trend. Price action is continuing within the channel so alarms yet. Indicators are still above the earlier lows and need to cross the resistance levels. Intraday traders can look at the levels on spot nifty to trade on Thursday.

Spot Nifty Levels for Trading on Wednesday :

No trade between 5654 and 5692(To avoid whipsaws)

Buy above 5692 sl of 5672

targets 5711-5730(add positions, breakout on the upside),

5749-5768-5787-5806-5825.

Sell below 5654  sl of 5674

targets 5635-5616(add positions,breakout on the downside)

5597-5578-5559-5540-5521.

Happy Trading !!!

Nifty View for 03.04.2013

Nifty Recovery is on as long as it stays within the channel. The breakout may come out of the channel and sustaining above it. Use the pivot level of 5757 for trend players with suitable stop loss and targets given earlier.Indicators are mixed bag with RSI showing divergence and MFI is not showing strength but still its above the last low. For further strength RSI should cross the level of 55 and MFI should stay above the level of 40. Intraday players can use the intraday level given below on spot nifty to trade on Wednesday.

Spot Nifty Levels for Trading on Wednesday :

No trade between 5729 and 5767(To avoid whipsaws)

Buy above 5767 sl of 5747

targets 5786-5805(add positions, breakout on the upside),

5824-5843-5862-5881-5900.

Sell below 5729  sl of 5749

targets 5710-5681(add positions,breakout on the downside)

5662-5643-5624-5605-5586.

Happy Trading !!!

Nifty View for 02.04.2013

Nifty futures opened in green to day and nearly stayed above the line for the day. On charts we see futures staying within the channel which is positive for it and try to attempt to reach the top of the channel.  The divergence is seen in RSI and RSI needs to cross the resistance of 55 for the move to gather strength. MFI is not supporting as it moved in opposite direction today after making a top in morning. MFI should support this move to add strength to it else it may move sideways. Trend players need to watch the level of 5757 for strength. Intraday traders can look at the levels on spot nifty given below to trade on Tuesday. 

Spot Nifty Levels for Trading on Tuesday :

No trade between 5686 and 5723(To avoid whipsaws)

Buy above 5723 sl of 5703

targets 5742-5761(add positions, breakout on the upside),

5770-5789-5808-5827-5846.

Sell below 5686  sl of 5706

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

5629-5610-5591-5572-5553.

Happy Trading !!!