Category Archives: Nifty

#167 Nifty Update: Ignore Todays Trailing SL close on NIFTY

Yesterday i did mention to square-off Longs after nifty closes below 5871 and today it closed below. But i would suggest you all to ignore todays close and DO NOT CLOSE longs tomorrow UNLESS it trades below 5832 tomorrow. Today IIP numbers were announced after markets and Inflation too. Both the numbers have shown some extra ordinary improvement. So wait and watch for tomorrow

#166 Nifty Update: "Booster on Nifty"

As gamers would be aware of a Booster button in NFS, same is the case on Nifty currently. After a whooping volatile session in the month of August when nifty managed to closed at 5285, it has since gave a non-stop trading close at 5913 today. RBI says reserve money has increased YoY against the same period last year. Technically we are in a strong bull mood over 100 EMA and 200EMA. Indicators still have strength to drive nifty to some upside. Looking at chart from the point of view of Elliot Wave theory and some other patterns coordinately, i expect Nifty to resist near to 6003 (closing basis). But a range of resistance is 5971-6034 for next week and than market could retrace upto 5725

Strategy: Book Partial Profit on Long Nifty initiated by us on 4th Sept at 5971 and Full profits around 6003. Keep a Trailing SL at 5871(Closing basis)

#165 Nifty Update

 Nifty has closed above a strong resistance level of 5724 today. Our target was 5769 as we expected on 4th September 2013. Technically it has closed a way above 100 EMA and 200 EMA. Now markets are in a   strong bull run. Now we can expect a high volatile sessions upto 17th and 18th Sept when we have bank policies. Our Strategy now is to hold longs initiated on 4th Sept with Trailing SL of 5724 Closing basis

#1 Soya Bean Update

SoyaBean Indore Ncdex has seen some straight vertical upside move from 2872-3703. It resisted near to a downward sloping resistance line. Currently it is trading below 100 DMA which is at 3553 i.e., it suggest a weak trend below the said level. Today SoyaBean is trading below short term moving averages adding a weak trend characteristics. We expect it to correct in near term.

Strategy: Short SoyaBeanIDR (Oct) NCDEX with SL of 3705 and tgts 3386/3288/3190/3050 All the levels are closing basis.

#164 Nifty Update: 5606 on Nifty achieved!!!

Nifty has shown some consistent upside move after new RBI governor took off 3 days back. In my post of 4th Sept i did mention to go long on nifty with two near term tgts of 5606 and 5769. Today we have got a closing tgt of 5606. Now gates have opened for 5769 for the short term traders. Nifty is trading comfortably above short term moving averages but a important resistance is on the way at 5724 i.e, 100 and 200 EMA. Indicators are yet so temptingly giving a strong vibe of a strong upward move. Now a long weekend + Monday holiday, so we should expect some volatile move on Tuesday. September 18th is crucial day as RBI as well as FED gonna review monetary policy.

Strategy: I would recommend to HOLD long on Nifty which i recommend at 5449 on 4th September. Keep a Trailing SL at cost price of 5449. Book partial profits at 5724 and wait for a closing above the same level.


Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market. 

#2 Global Update: Whats NOW on DOW ??

Yesterday DOW took strong support and close above 14833 which i mentioned as a strong technical level. Indicators are still dicey but trendline support has been taken by the Index. Short term moving averages are near by and we expect DOW to be range bound. Few near by resistances are at 15047,15127 and 15227. DOW has to take strong CLOSING support above 14853. I would recommend to watch for the breakout of the range 14853-15227 before taking any new position in DOW. So WAIT and WATCH!!!!

Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market. 

#163 Nifty Update: "Grand Masti" already released on NSE/BSE

Grand Masti (a Bollywood Movie) is about to release next week but it has been already released on NSE an d BSE..Hahahaha.. Just kidding..But the volatility in last 8 session has been such that “Ki woh Traders ki Masti Kar Rahe Hai”. 75-150 points volatility on Nifty has been common in these mentioned session. But if we analyze it closely technically it has given a sign of reversal for at least short term. 5448-5450 was the importance resistance for today and Nifty has given the strong close exactly at that point. IF Nifty CLOSES positively tomorrow than we can have next resistances near to 5606 and 5769 this expiry. Lets see what can a new RBI governor help to traders with Rupee depreciation. Our strategy For tomorrow and next few sessions would be going LONG with a CLOSING STOP LOSS of 5310


Disclaimer: I may have personal position in index and above mentioned stocks. Views and News mentioned above may have Errors and omissions. My views are biased more towards technical analysis. Please read and study the market carefully before investing on my idea. For any suggestion contact me on my email. Some words mentioned in article don’t mean their actual meaning. They are correlated for market. 

#162 Nifty Update: 'Once upon a time in NIFTY Again'

All Bollywood lovers are waiting for the movie Once upon a time in Mumbai again while market traders are waiting for some short covering after a free fall from 6093. IIP number nor inflation has been cheering for the markets but only thing cheering the rally are the earning reports better than expected. Take from IT sector to Commodity stocks , all have beat street estimates. Stock valuation has been at lowest levels since last 2 years. Banking and Commodities sectors are the most lucrative for long term buying. Technically nifty is in the downside channel which has been confirmed with two lower lows and lower highs. But we may may see some continued short covering from here upto 5950-6000 levels. We have 2 speed breakers 5773 (200EMA) and 5830 (100 EMA). So we may expect a rally which was once upon a time in Nifty. 

#161 Nifty Update: Sign of Relief for the traders

A “Bullish Harami” pattern in term of candlestick is the turn around or can say reversal sign from a bearish trend. NSEL has been the talk of town since last week. Question still remains can it pay it dues?? Most of the traders or market people believe they will. PMI data of india has been weak but we can gauge our economy only on one data. Inflation has been zig zag while rupee depreciation is hurting the most to investor sentiments. But i feel that this could be the low of near term. Looking at chart, a short covering on nifty is due a high tym. Since my last few posts i have been mentioning to go long on each dip with sl of 5632 and this is the best price or can say least value for the stocks to buy. Technically we may face resistance near to 5760 levels were 100 and 200 EMA are situated but we are confident that if we see a turnaround thn this time a new high of 6400 is inevitable.

#7 Article: Monsoon Trading

Monsoon has been wonderful for the farmers around the country but still not good for the traders, let it be Commodity traders or Equity traders. All the Agri commodities are pouring down in value even more than monsoon while Nifty has been pretty volatile last month but we did achieve first target 5961 which I intimated in last issue. We still have our upside tgts 6132/6300 intact. RBI was the key market turner last month. Raising money market rates from banks was the step taken by RBI to control depreciating rupee. Our currency did improve against USD but what about our economic growth?  Many analyst including me are of the view that squeezing liquidity from economy at a time when we trying to stand up from recession is little harsh step. But controlling our currency and CAD (current Account Deficit) was also important. So everyone will have their own views and I guess RBI would have taken the right step after studying our economic conditions more carefully. Gold import has been reduced almost 50% over last quarter which has reduced our CAD to large extent.
Earning season has been better than estimates other than small banks which have not performed as per estimation. But this should been taken positive change as companies have performed better than previous quarter.  IT and Pharma sector is outperforming at the index and even at the fundamental earnings. Rupee depreciation has helped both the sectors to outperform as they are more over export oriented sectors. Banking and Commodities sectors are the most beaten and stock prices are just unacceptable for the traders and investors but its hard to believe that this is the right time to go long for investor who has the horizon of more than 5-6 years. Tomorrow we have RBI monetary policy review and we expect something in favor of Nifty and Banknifty.

Coming to Nifty technical’s, 100 EMA is at 5869 and 200 EMA at 5750. We are expecting nifty to consolidate between this range.  Indicators are also expecting a range bound to consolidation movement in near future. Graph adjoined to article is weekly chart of nifty and its running in perfect Elliot wave channel. Currently we are in internal correction mode which can be taken as a long term investment. We have been advising seen last 2 issue’s to go long for long term portfolio builders and we continue to do so. Our SL of nifty would be the same i.e., 5757 and 5632  on closing basis. Targets on upside are 6132/6300/6450