Nifty View for 01.03.2013

What a fiasco on the Budget day.. another lesson to not to trade on event days.. without stop loss.. On such days technical's will rarely work. On expiry we are at 5729 in March series. The monthly pivot for March series is at 5815. The resistance are at 5956-6219 and supports at 5552-5411. The levels to watch for short term are 5552-5683-5815-5885. The divergence still exists on charts clearly for MFI, but price is always supreme. RSI is holding its level which is adding more mystery. The recovery may be quick if the divergence works out fine. Intraday traders can look at the levels on futures given below to trade on Friday.

Nifty Future Levels for Trading on Friday :

No trade between 5710 and 5748(To avoid whipsaws)

Buy above 5748 sl of 5728

targets 5767-5786(add positions, breakout on the upside),

5805-5824-5843-5862-5881.

Sell below 5710  sl of 5730

targets 5691-5672(add positions,breakout on the downside)

5653-5634-5615-5596-5577.

Happy Trading !!!

Nifty View for 28.02.2013

Nifty futures made a new low at 5748.80 and then recovered for the day to hit a high of 5817.45 and closed the day at 5797.70. Nifty futures need a close above the level of 5827 to start any recovery and should not close below this level again for momentum on the upside. On charts it took support for intraday at the first gap. RSI is still not showing any momentum. MFI is sideways but still holding the levels which shows the buying has happened earlier but no fresh commitments are being made. It would be prudent to watch this indicator for further clues. Any sell-off if it happens will be shown it here first. Levels are the same for the trend given earlier. Intraday traders can look at the levels on spot nifty given below to trade on Thursday the last day of this February series.

Spot Nifty Levels for Trading on Thursday :

No trade between 5778 and 5816(To avoid whipsaws)

Buy above 5816 sl of 5796

targets 5835-5854(add positions, breakout on the upside),

5873-5892-5911-5930-5949.

Sell below 5778  sl of 5798

targets 5759-5740(add positions,breakout on the downside)

5721-5702-5683-5664-5645.

Happy Trading !!!

Nifty View for 27.02.2013

Nifty futures broke the important level of 5827 with a gap down with global markets falling yesterday. After closing for nearly at the same levels it gave away the support of 5827. Yesterday it was observed below 5827 we may see more downside and today open was at 5832.60 and high was at 5838 which may be noted. Below this level of 5827 we have support at 5743.25 as the intermediate level and major support coming at 5648.25 on the futures. This level of 5648.25 is the third monthly level below the pivot of 6028.25. On the upside the level of 5838.25(today's high at 5838) was our second monthly support level which was comprehensively broken today on the futures. The close for today is at 5767.95 and the low was at 5755.25. The level of 5838.25 will be resistance on upside and recovery will start only by closing above. The divergence observed on the indicators has not worked on price action and today there is mixed signal with RSI moving down and MFI still holding the fort. On charts we see RSI is at support levels and MFI is rising from old supports. Price has supports at levels near the gap of earlier breakout as marked on the chart. With expiry looming overhead we may see more volatility on the futures so one can trade with caution. Intraday traders can watch the levels on spot nifty given below to trade on Wednesday.

Spot Nifty Levels for Trading on Wednesday :

No trade between 5742 and 5780(To avoid whipsaws)

Buy above 5780 sl of 5760

targets 5799-5818(add positions, breakout on the upside),

5837-5856-5875-5894-5913.

Sell below 5742  sl of 5762

targets 5723-5704(add positions,breakout on the downside)

5685-5666-5647-5628-5609.

Happy Trading !!!

Nifty View for 26.02.2013

Nifty futures  made a new low at 5822 very near to the earlier low of 5825 made on Friday. The volatility is on the increase and prices are seen within the range. On charts we are still hugging the red line on charts and below the aqua line. The divergence on charts depicted by the indicators is growing strong and possibly tomorrow or day after may the days for recovery . The price is range bound between the levels of 5827 and 5971. One can use the range for trading safely. The recovery if seen needs to cross above the 5971 level to be on the long side, else the range may be used for profit bookings. The close is again at the very same level for the last 3 days so use the same levels on spot nifty to trade on Tuesday. Use earlier levels for trend play.

Spot Nifty Levels for Trading on Tuesday :

No trade between 5833 and 5872(To avoid whipsaws)

Buy above 5872 sl of 5852

targets 5891-5910(add positions, breakout on the upside),

5929-5948-5967-5986-6005.

Sell below 5833  sl of 5853

targets 5814-5795(add positions,breakout on the downside)

5776-5757-5738-5719-5700.

Happy Trading !!!

Nifty View for 25.02.2013

Nifty futures hit a bottom of 5825 and remained range bound for the day to close at 5856.30 after making a high of 5883.25.  The close is around the same levels of Thursday. On intraday we breached the level of 5838.25 which was negative but closed above it for the day which is important. On charts we see the movement happening between the aqua line and the red line which is sideways. Breakout on either side would be good for traders who are frustrated to watch the ranged movement. On indicators we see positive divergence and price needs to confirm the same. Watch for back testing of the trend lines on both indicators for any reversal. We have hit a weekly low near the second monthly support and holding the same on Monday will be see some recovery. With expiry next week we may see volatility for the index with wild swings. Intraday traders can use the same levels for Friday given below to trade on Monday.

Spot Nifty Levels for Trading on Monday :

No trade between 5833 and 5872(To avoid whipsaws)

Buy above 5872 sl of 5852

targets 5891-5910(add positions, breakout on the upside),

5929-5948-5967-5986-6005.

Sell below 5833  sl of 5853

targets 5814-5795(add positions,breakout on the downside)

5776-5757-5738-5719-5700.

Happy Trading !!!

Nifty View for 22.02.2013

Nifty futures could not cross the hurdle of 5982 in this pull-back. Today opening gap down was against the trend momentum and broke the critical level of 5936.50. Staying below 5936.50 created panic and the next support was at 5887 and the same was broken intraday and we closed below it at 5853.45. For tomorrow we need to sustain above 5887 for any recovery to happen. The level below it is at 5838.35 which now critical level on downside.  The breach of 5838.25 on futures will open up more downside. On charts we are very near to the red support line. Intraday traders can look at the levels on spot nifty to trade on Friday.

Spot Nifty Levels for Trading on Friday :

No trade between 5833 and 5872(To avoid whipsaws)

Buy above 5872 sl of 5852

targets 5891-5910(add positions, breakout on the upside),

5929-5948-5967-5986-6005.

Sell below 5833  sl of 5853

targets 5814-5795(add positions,breakout on the downside)

5776-5757-5738-5719-5700.

Happy Trading !!!

Nifty View for 21.02.2013

Nifty futures volatility coming down and moving in a range after opening with a gap up was the story of the day. The close is positive at 5964.30. The range is same for tomorrow as the levels given yesterday will work for tomorrow, The resistance of 5982 if crossed may take it  to 6028 our monthly pivot. On the downside again 5936.50 is critical for recovery.Sustaining above the aqua line is the key for tomorrow. The levels on spot nifty to trade for Thursday are same as given below. 

Spot Nifty Levels for Trading on Thursday :

No trade between 5920 and 5957(To avoid whipsaws)

Buy above 5957 sl of 5937

targets 5976-5995(add positions, breakout on the upside),

6013-6032-6051-6070-6089.

Sell below 5920  sl of 5940

targets 5901-5882(add positions,breakout on the downside)

-5863-5844-5825-5806-5787.

Happy Trading !!!

Nifty View for 20.02.2013

Nifty futures stayed put above the critical level of 5887 for the day. In the afternoon crossed the critical resistance of 5936.50 and closed the day at 5960. It was strong intraday close and shows some signs of recovery. On charts we can see that the red line acted as support and currently we are trading above the aqua line and closed above it. Both the indicators show signs of recovery. Watch the earlier trend-lines drawn on the indicator for further resistances if they move up to that level. For the momentum to continue it should stay above the aqua line . The resistance on upside is at 5982 for tomorrow and closing above this level will be continuation of trend. The monthly pivot is at 6028 which will be a strong resistance for this recovery. 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 5920 and 5957(To avoid whipsaws)

Buy above 5957 sl of 5937

targets 5976-5995(add positions, breakout on the upside),

6013-6032-6051-6070-6089.

Sell below 5920  sl of 5940

targets 5901-5882(add positions,breakout on the downside)

-5863-5844-5825-5806-5787.

Happy Trading !!!

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Happy Trading !!!

Nifty View for 19.02.2013

Nifty futures are fiddling to make a bottom and moving in a range. On chart above it is hanging above the red line . On the indicators we see some chances of reversals. The price actions for any recovery, needs to move above the aqua line on chart. Today it was positive above 5887 and resistance was at 5936.50. For tomorrow we have the same levels to watch. Above 5936.50, we may see some recovery. Between 5936.50 and 5887, it may be range bound. Breaking below 5887 will be negative for the day. Use the levels given earlier to trade for the trend. 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 5879 and 5917(To avoid whipsaws)

Buy above 5917 sl of 5897

targets 5936-5955(add positions, breakout on the upside),

5974-5993-6012-6031-6050-6069.

Sell below 5879  sl of 5899

targets 5860-5841(add positions,breakout on the downside)

5822-5803-5784-5765-5746.

Happy Trading !!!

NIfty View for 18.02.2013

Nifty futures opened at 5889.70 on Friday and did break below the critical for Friday of 5887.30 and turned negative. The level on upside is 5936.50 which needs to be sustained for any signs of recovery. Below Friday's low of 5858.65 we have our second monthly support of 5838.25. This is the level to watch for any signs of significant recovery if it happens. The pressure level will be 5936.50 . The Jan 2013 open was at 5932.50 and low for the series was at 5930. This important level was broken in Feb 2013 series,which puts the trend in jeopardy. On charts the red line is critical as it was earlier resistance and now acting as support. Below 5838.30 we have levels of 5743.25 as our third monthly support. Intermediate level to watch in between these two would be 5790.75. For Monday again 5887 level will be critical and below it we may continue on the downside. Intraday Traders can watch the levels(same as on Friday) on spot nifty given below to trade on Monday.

Spot Nifty Levels for Trading on Monday :

No trade between 5865 and 5904(To avoid whipsaws)

Buy above 5904 sl of 5884

targets 5923-5942(add positions, breakout on the upside),

5961-5980-5999-6018-6037-6056.

Sell below 5865  sl of 5885

targets 5846-5827(add positions,breakout on the downside)

5808-5789-5770-5751-5732.

Happy Trading !!!

Nifty View for 15.02.2013

Today Nifty could not sustain above the 5936.50 level and thereby showed intra-day weakness. Also it made a new low at 5889.05 just below the earlier low of 5900 on 8th Feb 2013. Nifty futures staying below 5936.50 will be negative for the recovery in this expiry. The important level below it is at 5838.25 which is our second monthly support. The intermediate level to watch is at 5887.30 on the futures, so for tomorrow sustaining below 5887 will be negative for it. Now 5936.50 will be the hurdle to cross and may see some recovery if closes above it. Tomorrow's probable range is 5936.50 to 5838.25 with 5887 as pivot and also being Friday we have an important weekly close for this correction from the top of 6157. Intraday traders can watch the levels given below on spot nifty to trade on Friday. 

 Spot Nifty Levels for Trading on Friday :

No trade between 5865 and 5904(To avoid whipsaws)

Buy above 5904 sl of 5884

targets 5923-5942(add positions, breakout on the upside),

5961-5980-5999-6018-6037-6056.

Sell below 5865  sl of 5885

targets 5846-5827(add positions,breakout on the downside)

5808-5789-5770-5751-5732.

Happy Trading !!!

NIfty View for 14.02.2013

Nifty futures could not cross the hurdle of 5982 and gave up the intraday gains to close at the level of 5938.75. The close is just above the  level of 5936.50 which will be critical for tomorrow again. The levels are same for tomorrow as we are moving in the range. Use the levels given earlier to trade for trend players. Intraday players can use the levels given yesterday.

Spot Nifty Levels for Trading on Thursday :

No trade between 5903 and 5942(To avoid whipsaws)

Buy above 5923 sl of 5903

targets 5961-5980(add positions, breakout on the upside),

5999-6018-6037-6056-6075.

Sell below 5903  sl of 5923

targets 5884-5865(add positions,breakout on the downside)

5846-5827-5808-5789-5770.

Happy Trading !!!

Nifty View for 13.02.2013

Nifty opened positive and stayed up there for the day. It crossed the resistance level of 5936.50 and closed at 5941.85. The next level to watch is 5982 on futures and above it 6028 our monthly pivot. For tomorrow staying above 5936.50 will be positive for intraday trades. Use the levels given earlier for long trades. Intrday traders can look at the level on spot nifty given below to trade on Wednesday.

Spot Nifty Levels for Trading on Wednesday :

No trade between 5903 and 5942(To avoid whipsaws)

Buy above 5923 sl of 5903

targets 5961-5980(add positions, breakout on the upside),

5999-6018-6037-6056-6075.

Sell below 5903  sl of 5923

targets 5884-5865(add positions,breakout on the downside)

5846-5827-5808-5789-5770.

Happy Trading !!!

Nifty View for 12.02.2013

Nifty Futures opened around 5915 but could not cross our monthly support level of 5936.50 as high was nearly the same at 5937. Futures made low at 5905 and closed shops at 5919.70. The day range was of consolidation at lower levels as we did not breach 5900 low made earlier on Friday. The resistance of 5936.50 if crossed and sustained we may see recovery for futures. The momentum on the upside  will depend on the break of 6028 on the upside. The levels below 5900 low are 5887.30 and 5838.25. The rise of  approximately 1400 points from 4770 to 6157 is significant.  The major breakout could happen only above 6187 levels on the futures. On charts we have broken the rising channel and the aqua line which is bad for the trend followers. Also both the indicator have broken the rising trend-line support. MFI has reached the May 2012 levels and needs to be watched for any reversal . Futures should move above the aqua line and stay put above it for confirmation of reversal. Intraday traders can use the same levels for yesterday given below  on spot nifty.

Spot Nifty Levels for Trading on Tuesday :

No trade between 5884 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 5884  sl of 5904

targets 5865-5846(add positions,breakout on the downside)

5827-5808-5789-5770-5751.

Happy Trading !!!

Spot Nifty Blow Up Chart ...08.02.2013

Spot Nifty Critical Level --- 5871... 

Happy Trading !!!

Spot Nifty Long Term Chart ...08.02.2013

Happy Trading !!!

Nifty View for 11.02.2013

Nifty futures opened at 5960 made a high of 5973.45 and then move sideways till afternoon. Late in afternoon turned red to make a new low at 5900 and closed the week at 5913.25. The monthly support level was at 5936.50 which was breached by it and we got a weekly close below it. So on Monday for any recovery to happen we should be above 5936.50 then resistance at 5982-6028. Below the level of 5936.50 our first monthly support is negative for the Index. We have second monthly support coming at 5838.25. The intermediate levels on futures to watch are 5887.30 and 5838.25. On charts of spot nifty above we see that we are at bottom of regression channel. The GMMA bunch of short term is piercing the long term now . Earlier this bunch was well above the long term. Some past instances of recovery from those levels have been marked on chart. MFI showed the selling happening early on the index.  Monday intraday traders can look at the levels on spot nifty given below.

 Spot Nifty Levels for Trading on Monday :

No trade between 5884 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 5884  sl of 5904

targets 5865-5846(add positions,breakout on the downside)

5827-5808-5789-5770-5751.

Happy Trading !!!

Nifty View for 08.02.2013

Nifty futures is not able to cross the 6000 level for the last three days with the highs at 5993.10, 5993.65 and 5992.45 respectively. The level to watch was 5982 and futures have not been able to sustain above it. The level of 5936.50 is critical at the lower end after we hit 5940.10 as a intraday low today. The monthly support level no 1 is at 5936.50 which was nearly hit today. Those who followed the levels may have made handsome profits above 80 points below the pivot of 6028 as futures were negative below it for last few days. The trades would have sell at higher levels and try to get it as near as possible at the intraday low levels.So for now the range has been between pivot and support no 1. Till futures remain in this range enjoy the trades and take position on breakout on either side. Intraday traders can look at the levels on spot nifty given below.

Spot Nifty Levels for Trading on Friday :

No trade between 5919 and 5957(To avoid whipsaws)

Buy above 5957 sl of 5937

targets 5976-5995(add positions, breakout on the upside),

6014-6033-6052-6071-6090-6109.

Sell below 5919  sl of 5939

targets 5900-5881(add positions,breakout on the downside)

5862-5843-5824-5805-5786.

Happy Trading !!!