Nifty View for 18.09.2013

Today I am not posting charts as there is no major difference as price is sideways between 5800 to 5950 a range of 150 points. On the upside expansion could be seen up to 6100 and downside up to 5650.

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

Spot Nifty Levels for Trading on Wednesday :

No trade between 5832 and 5870(To avoid whipsaws)

Buy above 5870 sl of 5850

targets 5889-5908(add positions, breakout on the upside),

5927-5946-5965-5984-6003.

Sell below 5832  sl of 5852

targets 5813-5794(add positions,breakout on the downside)

5775-5756-5737-5716-5695.

Happy Trading !!!

Nifty View for 17.09.2013

Nifty futures could not sustain the gap up today and closed the gap intraday an closed at 5862.25. The high and low being at 6029 and 5814.20 respectively. The 5997 target was hit intraday but could not be sustained. So as long as we are below 5997 this level will act as resistance. Above this level we have next resistance at 6290 on futures. The support is at 5775 which was missed by few points today. Below 5775 we have our monthly pivot at 5555.

The 4 hourly MM level charts show the level of 5938 breached for second time and we corrected. The level of 5938 is resistance with supports at 5781.

The hourly futures chart with awesome shows the 5960 breached for second time and we corrected. We have the support at 5752. Between these two levels the trend is sideways with breakout on either side. 

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 5821 and 5860(To avoid whipsaws)

Buy above 5860 sl of 5840

targets 5879-5898(add positions, breakout on the upside),

5917-5936-5955-5974-5993.

Sell below 5821  sl of 5841

targets 5802-5783(add positions,breakout on the downside)

5764-5745-5726-5707-5686.

Happy Trading !!!

Nifty View for 16.09.2013

Nifty futures have closed the week at 5875.90 after making a high of 5908.75 and made a low of 5822.20 on Friday.The monthly level resistance at 5997 and support levels at 5775 as per the levels given at start of month. The level of 5850 is pivot with resistance at 5950 and supports at 5750.

Futures on 4 hourly are retracing from resistance at 5938 with supports at 5781. Intraday we hit 5823 level nearly 50 points from it. Use 5875 as pivot with targets at 5950-6025 and supports at 5800-5725.

Nifty futures with Awesome on hourly time frame continued with red and finished at neutral levels. Nifty futures could cross not the resistance of 5960 the top green line on chart. The supports are at 5752 the second line from top on charts. Between these range the futures are in sideways. Use 5850 as pivot with targets of 5925 and supports of 5775 for this time frame.

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 5832 and 5870(To avoid whipsaws)

Buy above 5870 sl of 5850

targets 5889-5908(add positions, breakout on the upside),

5927-5946-5965-5984-6003.

Sell below 5832  sl of 5852

targets 5813-5794(add positions,breakout on the downside)

5775-5756-5737-5716-5695.

Happy Trading !!!

Nifty View for 12.09.2013

On the dailies for futures 5948 is the level to watch as it was hit in past if look at in past and was the first swing high for this series. On price action watch the red line for support below it we have the yellow line to look at. 5997 is a big level to watch and anything above it will open up up many possibilities on the futures. As the aim of squeezing out shorts of system was achieved recently so are there fresh shorts being build up in the system is a question which will be answered in time. Supports at 5775 as per September series levels and below this we have 5555 our pivot. Positional profits of two levels or more (remember 5258 below pivot cross of this level was entry point as per this series levels) seen again in this series... if observed neatly. So use 5775 as pivot on this time frame with margin of plus or minus 100 points.

The 4 hourly futures with MM levels has worked fine till date. We hit the level of 5938 and back to support of 5781 missing it by few points. Use 5781 as pivot with resistance at 5938 and supports at 5625 the good old level respected always.

The hourly chart with awesome had some red at the end on the earlier day and we saw more red today also. Awesome nearing the neutral level and need to watch it there. RSI has come down to 55 and breach of it is not good for trend. MFI is down to 40 again supports near 20; currently double bottoming on chart. Price action hit the third level of green marked on chart exactly and proved its worth. Watch action between the top two green breakout on either side will be worth a trade. Use 5850 as pivot with 5950 as resistance and 5750 as support for the day.

Intraday traders can use the levels on spot nifty given below to trade on Friday the 13 th; if you !!!Believe IT !!!

Spot Nifty Levels for Trading on Friday :

No trade between 5832 and 5870(To avoid whipsaws)

Buy above 5870 sl of 5850

targets 5889-5908(add positions, breakout on the upside),

5927-5946-5965-5984-6003.

Sell below 5832  sl of 5852

targets 5813-5794(add positions,breakout on the downside)

5775-5756-5737-5716-5695.

Happy Trading !!!

Happy Trading !!! 

Nifty View for 12.09.2013

Nifty futures had a small pause after a sporadic run but made a new high of 5954.70 and closed shops at 5939.65. We closed above the red channel line for second time. RSI is moving to resistance of 68 levels. MFI is nearing 80 levels; another resistance nearing. MACD is still in negative and Awesome has just crossed the neutral level. Yet no reversal signs seen on the futures so being with the trend will be prudent. The hurdle of 5997 is yet to be crossed. The next level of above it is 6290 on this time frame. Use 5900 as pivot with targets at 6000 and supports at 5800.

Futures 4 hourly chart shows the resistance of 5938 hit intraday and we just closed above it. Use this level of 5938 as pivot with resistance at 6094 and supports at 5781.

Futures hourly chart with awesome shows red dominating for the day. We have nearly hit the green horizontal at 5960 today. Now we should sustain above this level for further gains. MFI is showing some negative divergence and RSI is also down for the day. But use price levels as confirmation for reversals.  Use 5925 as pivot with targets of 6025 and supports of 5825 for this time frame.

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

Spot Nifty Levels for Trading on Thursday :

No trade between 5895 and 5932(To avoid whipsaws)

Buy above 5932 sl of 5912

targets 5951-5970(add positions, breakout on the upside),

5989-6008-6027-6046-6065.

Sell below 5895  sl of 5915

targets 5876-5857(add positions,breakout on the downside)

5838-5819-5800-5781-5762.

Happy Trading !!!

Nifty View for 11.09.2013

Nifty futures on weekly chart show the price action heading for channel top. Today was the day when futures took caution to the wind and surpassed the targets of all. RSI has reached the resistance of 55 from where it started the fall earlier. Now it needs to be watched whether it sustains above the level of 55 to hit the 68 level which has been a big level of resistance on it. MFI is near 40 levels; so watch it; if it crosses the 40 level and sustains above it. Breach of 5775 will be the early sign of correction on this time frame.

Nifty futures on the daily time frame the level of 5775 was the intermediate resistance level so anything above it was breakout for trend players. Those who could take positions as per it are in profits. The next resistance level of futures for September is at 5997 which is incidentally the channel top on the weekly chart. Today the system shorts were squeezed out and it would be interesting now to watch the trend after this aim is achieved. The intermediate level between 5997 and 5775 to be watched is 5886 for this time frame. Also we have crossed the red line in the channel and sustaining above it will good for trend.RSI is heading for 68 level of resistance and needs to be watched. MFI is heading for 80 level of resistance so please watch it. Use 5875 as pivot with resistance of 6000 on the upside and supports of 5750 on downside.

The 4 hourly chart with MM levels shows the level of 5781 taken out with a gap which was clearly a breakout. The next level of resistance is at 5938. So for tomorrow if we sustain above 5938 then the trend is positive or we may see consolidation between the levels of 5938 and 5781. Breach of 5781 will be early sign of caution.

The hourly chart for futures with awesome shows single red at the end of the day. On price action the second green resistance was taken out with a gap up and we held above it for the day. Hope there was no confusion for those who are following it. The next resistance on this time frame is shown by the third green line at level of 5960. RSI has reached level of 83.48 which is higher than earlier top. So does it mean price has to do a lot of catching up is the question arising at the back of mind. So we need to ponder on it as time will tell the result. So always trade on levels to avoid any confusion and trade without any sentiments between you and your trades. Use the indicators as guiding tools but be firm on levels because " BHAV is BHAGWAN". and only price will give you profits. Use 5875 as pivot for this time frame with 6000 as target on upside and 5750 on downside. The target is same as given earlier as price is moving ahead of time so when time is right it will square the price. 

Intraday traders can use the levels on spot nifty given below to trade on Wednesday.

Spot Nifty Levels for Trading on Wednesday :

No trade between 5878 and 5916(To avoid whipsaws)

Buy above 5916 sl of 5896

targets 5935-5954(add positions, breakout on the upside),

5973-5992-6011-6030-6049.

Sell below 5878  sl of 5898

targets 5859-5840(add positions,breakout on the downside)

5821-5802-5783-5764-5745.

Happy Trading !!

NiFTY VIEW FOR 10.09.2013

Nifty futures weekly chart shows futures attaining the projected target of 5632 and closing the strongly above it at 5695. On the weekly the RSI value of 34 has been good support as seen in past. For further momentum RSI needs to cross the resistance of 55 level. MFI has taken support at 20 levels and need to watched carefully. MACD and Awesome are still in negative but very near to the neutral level. In all sustaining above 5632 is the key for this trend and break of it will be the first warning signal.

The daily chart for futures shows price action back in the rising channel some blips below it and testing patience of traders on this time frame. Currently we have hit the first yellow line and closed just above it. Sustaining above it we may hit the red line target as shown in chart. The monthly pivot was at 5555 and we closed above it so currently the trend is up on this time frame. Above the pivot we have resistance at 5775. The high hit on Friday was at 5706.90 and we closed on futures at 5695 a confident close near the highs. With holidays or break of 3 days a change of sentiment can be seen so be cautious at higher levels. The zone of 5750 to 5850 will be critical zone for futures and could be very volatile. The breach of 5555 level of pivot could be a negative for this trend. The intermediate level to watch between these two levels is 5665 which also can be also used as early signal of negativeness.

The 4 hourly chart of futures with MM levels shows the 5625 resistance taken out intraday and we closed above it. The next resistance on this time frame is at 5781 and support at 5469. So breach of 5625 we may see levels of 5547-5469, so be cautious hereafter.

The daily futures chart with awesome has been the most clearest chart to trade on. After clearing the 5501 resistance level with a gap we nearing the second resistance level of 5752 on chart. Please use some reversal techniques for your trades as it is not always expected to hit the levels exactly. Use 5650 as pivot for this time frame with targets at 5750 and supports at 5550 for this time frame.

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 5662 and 5699(To avoid whipsaws)

Buy above 5699 sl of 5679

targets 5718-5737(add positions, breakout on the upside),

5756-5775-5794-5813-5832.

Sell below 5662  sl of 5682

targets 5643-5624(add positions,breakout on the downside)

5605-5586-5567-5548-5529.

Happy Trading !!!   

Nifty View for 06.09.2013

The above chart for futures shows the trend lines target hit today at 5632. The channels have been followed by Nifty futures very well. Anything above the level of 5632 is positive and below it may come be corrective. 

The daily futures opened with a gap up at 5551.60 and if blog readers had kept in mind the pivot of 5555 then it was positive above it. The close is above the pivot so watch this level carefully as next level is at 5775 and supports at 5259 on this time frame. Intermediate level above  5555 was at 5665 and we have hit a high of 5640... so now 56640-5660 is initial resistance. We sustained above this zone then 5775 level can be challenged.

The 4 hourly chart with MM levels shows the gap up above 5469 and we hit the nest level of 5625 and closed below it. Use 5625 as pivot with resistance at 5781 and supports at 5469.

The hourly chart shows the break out or gap up above the first green hurdle of 5551 and we closed above it. Watch this line very carefully; if sustained above it we can challenge the level of 5752 with intermediate resistance of 5651(high of today at 5640). Use 5600 as pivot with resistance of 5675 on upside and 5525 as support on downside. Below 5525 the next support is at 5450 if profit booking comes heavily at the end of the week. Closing above 5600 will be positive but take positions as per your risk profile as we have still many days to go about in this series. Sometimes things go to our heads very easily and then we get stuck in unwanted positions too soon and repent by paying the back heavily.

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

Spot Nifty Levels for Trading on Friday :

No trade between 5574 and 5612(To avoid whipsaws)

Buy above 5612 sl of 5592

targets 5631-5650(add positions, breakout on the upside),

5669-5688-5707-5726-5745.

Sell below 5574  sl of 5594

targets 5555-5536(add positions,breakout on the downside)

5517-5498-5479-5460-5441.

Happy Trading !!!   

Nifty View for 05.09.2013

Today futures opened gap down made a double bottom at 5318.75(low at 5323..20) and had a intraday recovery to make a high of 5475 and closed the day at 5448.05. We did not hit the pivot of 5555 so on this time frame trend is negative. The support is at 5259 below the pivot of 5555. Above 5555 next resistance level is at 5775. 

The 4 hourly chart with MM levels shows the pivot of 5313 held and we recovered to hit resistance of 5469 with high at 5475. So if followed the level, one could have taken all profits as per levels given. For tomorrow 5469 is pivot with support at 5313 and resistance at 5625.

The hourly chart with awesome show the awesome again at neutral levels. RSI held the 34 level and and hit the 55 level so above 55 level it is positive and below 55 it may again hit the support of 34. MFI has held the 40 levels and needs to be watched for any breach on the downside. MACD has come to neutral level so trend is neutral here. We are yet to cross the 5501 on tomorrow but we have moved out of the falling channel. Use 5450 as pivot with target  of 5525 on upside and support of 5375 on downside. Below 5375 we could hit 5250 if volatility increases again. 

Intraday traders can use the levels on spot nifty given below to trade on Thursday.

Spot Nifty Levels for Trading on Thursday :

No trade between 5430 and 5467(To avoid whipsaws)

Buy above 5467 sl of 5447

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

5524-5543-5562-5571-5590.

Sell below 5430  sl of 5450

targets 5411-5392(add positions,breakout on the downside)

5373-5354-5335-5316-5295.

Happy Trading !!!   

Nifty View for 04.09.2013

Nifty futures opened at 5555 near the pivot for September series and made high of 5572. But could sustain the pivot and had a intraday fall to make a low of 5323.30 and closed shops for the day at 5344.55. Was this an shake -off or an end of trend will need more confirmation. Below the pivot of 5555 our monthly support level no 1 was at 5259 and it is not broken. Till this level holds we have chances of recovery for futures. For tomorrow use the level of 5259 as pivot with resistance at 5555 levels and next support level below 5259 is 4965 on this time frame. We closed the August expiry at 5409; below this level is another negative for this trend. 

The 4 hourly chart with MM levels shows the 5469 level broken intraday which was a warning  signal. Below the 5469 we had support at 5313 and futures have not broken this level. So use 5313 as pivot for tomorrow with resistance at 5469 and supports at 5156 for this time frame.

The futures hourly chart with awesome shows red at the end of the day and we are again at neutral zone. MFI and RSI have hit resistance levels but MACD is above the neutral level. RSI near the 34 level support and MFI near the 40 level support breaching supports intraday will be sign of caution. For tommorow use 5350 as pivot with targets of 5450 on the upside and 5250 on downside. Breaching 5250 will be very detrimental for the trend.

Spot Nifty Levels for Trading on Wednesday :

No trade between 5323 and 5360(To avoid whipsaws)

Buy above 5360 sl of 5340

targets 5379-5398(add positions, breakout on the upside),

5417-5436-5455-5474-5493.

Sell below 5323  sl of 5343

targets 5304-5283(add positions,breakout on the downside)

5264-5245-5226-5207-5188.

Happy Trading !!!   

Nifty View for 03.09.2013

Nifty futures moving on the daily for the first hurdle the yellow parallel line from the bottom of the channel.Today was a gap up opening and gap is not closed for the gap a sure sign of bullishness prevailing for intraday. The close of 5554.60 is just one point shy of our monthly pivot or rather the neutral level for this September series. Anything above this is in bullish zone. So positional traders can use the monthly level for September series to trade as per their risk profile with suitable stop loss. The next resistance levels are 5663 and 5775. Anything below pivot now warrants caution. Supports at 5409 on this time frame.

The 4 hourly chart for futures with awesome shows the level of 5469 held with close above it as this level was a cluster zone for price action. Any weakness in the trend should be watched now below this level. Use 5469 as pivot with target of 5625 and support of 5313.

The hourly chart with awesome for futures is the most clear chart with the futures closing above the first green horizontal resistance after a long time. Also awesome has moved above the neutral zone with a lot of green. MFI looks over bought and awesome is also stretched on this time frame. RSI also has hit a resistance level of 68 which has been difficult to be sustain by futures in recent past. So a caution is warranted by oscillators alround but price action should confirm the caution as oscillators can be over bought or over sold for a long time. Use 5550 as pivot with targets of 5625 on upside and support of 5475 on downside.

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

Nifty Futures Levels for Trading on Tuesday :

No trade between 5532 and 5569(To avoid whipsaws)

Buy above 5569 sl of 5549

targets 5588-5607(add positions, breakout on the upside),

5628-5647-5666-5685-5704.

Sell below 5532  sl of 5552

targets 5513-5494(add positions,breakout on the downside)

5475-5456-5437-5418-5399.

Happy Trading !!!  

Nifty View for 02.09.2013

Nifty futures on the weekly charts are at the higher end of the week candle formed and also back in the rising channel. The weekly AO, RSI, MFI and MACD are their lows. The resistance of 5632 is the level to cross on futures for further recovery on the weeklies.

The daily futures recovered at the end of the day to close the week at 5456.75 after making intraday lows of 5356 and weekly lows of 5124.30. The pivot for the September series is at 5555.55 which is the initial barrier for futures. The intermediate resistance above it are at 5663 and 5775 and intermediate supports are at 5407 and 5259. So for daily the range of 5406 and 5555 is consolidation zone any movement above or below it will be a sign of breakout and needs to be monitored carefully.

The 4 hourly futures with MM levels show the level of 5469 forming cluster of price around it. This level is current pivot for this time frame with resistance at 5625 and support at 5313.

The hourly future chart with awesome shows  some green at the end of the day i.e. recovery from lows of 5356 to the close of 5456.75. We are again at channel top and our first green resistance of 5501. So cross of 5501 needs to be monitored carefully. Use 5450 as pivot with targets of 5550 and support of 5350 on this time frame.

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

Nifty Futures Levels for Trading on Monday :

No trade between 5453 and 5490(To avoid whipsaws)

Buy above 5490 sl of 5470

targets 5509-5528(add positions, breakout on the upside),

5547-5566-5585-5604-5623.

Sell below 5453  sl of 5473

targets 5434-5415(add positions,breakout on the downside)

5396-5377-5358-5339-5320.

Happy Trading !!!