Monthly Archives: June 2013

Nifty Weekly Technical Outlook for 01st July, 2013

Surprising- Gap Up, just after expiry.

Nifty Weekly Chart as on 28 June, 2013

Nifty Weekly Chart as on 28 June, 2013

Nifty Daily Chart as on 28 June, 2013

Nifty Daily Chart as on 28 June, 2013

Week ends and we start evaluating ourselves, whether we went right or wrong. It is time to rectify and learn from the mistakes. We never expect to go right every time with every trade, but even if we succeed by more than 70%, then we believe we are on a right track. Now, it is up to our readers and decides whether we went right or wrong, during last week. Feel free to write your comments.

For us trading in the markets are like playing some adventurous games, where we have to undergo many emotional factors, of fear, greed, anxiety, and what no, and finally our bank accounts shows whether we are able to succeed or still we have to do bit more.

Generally week of expiry is always bundled with full of drama and unexpected moves. To us Fridays move was unexpected. If you are a market savvy then you must agree with us that, next day after expiry is very dull kind of session, like market is on holiday mood; but, it worked otherwise.

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Weekly Technical View for 01 July onwards – Harish Thakkar

Technical Views from our Guest Author Mr. Harish Thakkar

nifty weekly technical view - by harish thakkar

Market made weekly Bar Reversal with gap up above previous day high, holding the gap with almost all gains. Market sets trending up move with buy on dips up to 5715 for targets of 5913 and 5990.

To trade is step by step process, once Nifty sustains above 50 DEMA- 5847 will add strength. And previous swing high of 5863 will be immediate resistance and 5870-5900 is cluster of resistance. Nifty has to give litmus test near weekly swing high of 5931, which will validate the strength of the market.

Use 5DEMA or 34 HSMA for trailing Stop Loss and 3 Hourly swing low for Intraday fresh positions.

Markets are in overbought condition on hourly time frame, so it is better to wait to cool down for fresh positions.

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Bank Nifty & Nifty Trading Strategy for 28 June’13

Nifty as on 27 June’13– 5682.35 (+93.65)    Bank Nifty as on 27 June’13– 11235.75 (+169.20)

Finally expiry is over, and Bulls will be happy, that finally we made it.

Nifty Trading Strategy

Nifty closed at 5680, it seems that follow through buying can happen today, but be strict with trade, keep stop loss of 5630 and go long in Nifty, if everything goes right then Nifty has potential go up to 5815.

Bank Nifty Trading Strategy

Bank Nifty, price action is not clear, and don’t see any clear trade opportunity, it is better to wait for right signal.

Nifty and Bank Nifty both are not in sync, which also means that still market is moving under indecision, so stay alert and cautious.

Visit Way2Profits, for unbiased view on the markets.

Bank Nifty & Nifty Trading Strategy for 27 June’13

Nifty as on 26 June’13– 5588.70 (-20.40)    Bank Nifty as on 26 June’13– 11066.55 (-114.50)

Sometimes it is real difficult to earn out of the market, and if trader is smart enough to understand this thing, then he can make profits by two ways, one by not losing and second by trading the market when it is in trading mode.

Nifty Trading Strategy

In the last session Nifty stayed below 5680 and does not cross below 5570 level, remain range bound. According to our analysis there was no sure shot call on the market, and that is the reason we stayed out of the market. Now, today you have expiry day, and USD/INR has already shaken the markets, so it is better trade only the breakouts and that to with tight stop losses. Keep watch 5680 on higher side and 5570 on the downside.

Bank Nifty Trading Strategy

We were expecting some weakness in Bank Nifty from last Friday onwards, and finally Bank Nifty made a low of 11033.75 and our level was 10975. We believe Bank Nifty has further potential to move lower, but betting on that is little risky. Technical pullback is also due on the cards but for that traders has to wait for one more day, let expiry get over.

We want to tell our readers of Way2Profits, that we are not in the business to catch each and every move of the market. We believe it is impossible, or you can say we are capable of doing it so. At Way2Profits, we only try to catch best possible trading opportunity. We hope some of you must have already realized the fact, so don’t expect to receive continuous advice on the market. But keep reading for best possible opportunities.

Bank Nifty & Nifty Trading Strategy for 26 June’13

Nifty as on 25 June’13– 5609.10 (+18.85)    Bank Nifty as on 25 June’13– 11181.05 (+2.75)

Nifty and Bank Nifty both created hopes in the minds of traders and in the closing smashed the hopes. Expiry day is just two days away and market started behaving in some unwarranted fashion.

Nifty Trading Strategy

On closing basis Nifty gave Doji like candle which gives possibility of reversal in prices, but for that we need one positive close today. Below 5680 level Nifty will stay with weak bias, but selling at this level is not recommended. I think, traders should wait for close above 5680 to turn long, or go short below 5570 with an intraday perspective.

Bank Nifty Trading Strategy

Bank Nifty moving potential divergence on the chart, which creates possibility of bounce in Bank Nifty, and even last sessions candle, indicates the same thing, but it is advisable to wait for one more positive session. As expiry is very close and currency movement is also unexpected, you never know where market can head. It is better to stay away from the market for two days, or trade with intraday perspective only.

At Way2Profits, we always give you unbiased view. Please, don’t take our ideas as trading recommendations, it is just for educational purpose only, and we don’t accept any responsibility for the same.

Bank Nifty & Nifty Trading Strategy for 25 June’13

Nifty as on 24 June’13– 5590.20 (-77.40)    Bank Nifty as on 24 June’13– 11178.30 (-161.85)

It seems damage is not over yet, Nifty and Bank Nifty continue to slide further down. Now it will not be a big surprise for the market if Nifty touches its April’13 low of 5477.20 and Bank Nifty 10888.75. its sharp “V” turn, as Bears were smashed in month of April, May, now it’s time of Bulls to pay of the dues. And time wise, previous rise and recent fall moves in symmetry.

If I ignore previous counts and just look at recent move than it seems that it is perfect Expanded Flat Correction, my ellotician friends will not agree with me, but it is just first impression I got and I could not resist myself. Please forgive me.

Nifty Trading Strategy

As we mentioned in our weekly article also, that there is divergence emerging in Nifty chart, and even if Nifty falls from current level, then also this divergence will be valid, and continue to show us divergence. On the downside Nifty has potential to test low of 5500 mark, where it will find firm support. If at all Nifty turns higher from 5600 level, then it is advisable to trade in Intraday only, with the help of Gann Square of Nine Pivots or Camarilla Pivot Points.

Bank Nifty Trading Strategy

We sense, still there is further scope of downside in Bank Nifty. We see good support coming at 10975.

This week is Expiry week, and Indices moving in such a fashion, that volatility will be high, so plan your trade and trade your plan.

At Way2Profits, we always give you unbiased view. Please, don’t take our ideas as trading recommendations, it is just for educational purpose only, and we don’t accept any responsibility for the same.