Monthly Archives: June 2013

Bank Nifty Weekly Technical Outlook for 24th June, 2013

Nifty Weekly Chart as on 21 June’13 – 11340.15 (-582.70)

Nifty Weekly Chart as on 21 June’13 – 11340.15 (-582.70)Bank Nifty Daily Chart as on 21 June’13 – 11922.85 (-35.25)

Time and again it is observed that traders need a lions heart to trade in Bank Nifty, as movements are so sharp many a times that, in fraction of movement you can gain or loose significant amount in a single trade. Last week, was something like that only.

Let’s take a look on technical outlook of Bank Nifty.

  • Also it can be seen in attached chart, Bank Nifty easily moved below its trend line support, so we can say that this trend line has no more significance going ahead, as it failed in the exam. But now, we have one more trend line coming in, whether pries beholds above this line or no we have to see.

To read further Download

Nifty Weekly Technical Outlook for 24th June, 2013

Nifty Daily Chart

Nifty Daily Chart

Nifty Weekly Chart

Nifty Weekly Chart

Every market moves in the waves form, if you able to catch the direction of the wave than you have won half the battle, half you can win by controlling your emotional factors, and keeping right attitude. Today, you must be thinking that it is just wisdom thoughts taken from some famous author’s book, but dear friend, trust me it is our understanding, and one day as you progress with us, you’ll realize the fact and agree with us.

World markets, whether its Equity, Commodity or Forex all were eyeing on FOMC meetings outcome, and finally it declared, (we are sure you’ll all know details); in reaction to that Equity market panicked and turned down sharply, while Commodity and Forex market witnessed some gains, but everything proved short sighted, market moved in its original wave.

To read further Download

 

Weekly Technical View for 24 June onwards – Harish Thakkar

Technical Views from our Guest Author Mr. Harish Thakkar

 

Nifty Daily Chart

Nifty Daily Chart

Nifty Weekly Chart

Nifty Weekly Chart

 

Monthly Lower High (LH), Lower Low (LL) (June developing). Weekly continuation of LH,LL bullish divergence subject to price confirmation for trading entries on 5 Day close EMA.

As per Daily charts RSI-9 and on the Weekly charts RSI-14 shows market in deep oversold condition, from here on we can expect technical bounce to test 200 DEMA = 5765, which is nothing but the corrective rally, for one sharper fall.

As per MY understanding “FII’s sitting on piles of profits, need not to cover shorts on technical bounce. Trading long will be risky, so I would advise to prefer short on rally. To sell on rallies at 5765-5800 or buying PE options at that time will have better risk rewards ratios.

Wisdom Thoughts

Bottom fishing turns trader into fish at bottom of the net.

Catching a falling knife if it bleeds, you are lucky it had not cut your fingers.

(Dear readers, you can also express your view in Way2Profits, you just have to send us request, and your current research articles with supporting charts)

 

[stextbox id=”grey” caption=”Previous Posts from Harish Thakkar“]

[/stextbox]

Bank Nifty & Nifty Trading Strategy for 21 June’13

Nifty as on 20 June’13– 5655.90 (-166.35)    Bank Nifty as on 20 June’13– 11375.40 (-477.25)

What else we can say, we hope our Analysis and unbiased view helps to mint money from the market. Do we actually need to justify that we had advised our readers at right time with right strategy and view. We don’t think so, our work speaks itself, only we can say is, we are writing with dedication, and here you don’t find anything, which is just for attracting viewers count. In our last article, we had clearly shown you the direction, how to trade in Nifty, but as human nature it was difficult to trust blindly. We advise our readers to read our weekly and daily articles, and keep reading.

Soon, we are again starting our paid services, if anyone of you are interested than do let us know. Product and pricing details will be provided accordingly.

It was expected that Nifty and Bank Nifty will either open gap up or gap down, and finally, we don’t need to wait for opening, global markets were trading on weaker note, which was very obvious signal that market has to open gap down. Similarly, Bank Nifty opened 11677.35 and that was the high for the day, made a low of 11347.55.

Continue reading

Bank Nifty & Nifty Trading Strategy for 20 June’13

Nifty as on 19 June’13– 5822.25 (+8.65)    Bank Nifty as on 19 June’13– 11852.65 (+31.70)

Bank Nifty Technical Chart as on 19 June'13 - Way2ProfitsIt happens many a times that chart speaks thousand words. Nifty and Bank Nifty moved in a consolidation during yesterday. But Bank Nifty draws attention. Please see attached chart of Bank Nifty, first of all bank nifty is consolidating near its 200 DEMA from last few days, and also if we draw a simple trend line from the high of Bank Nifty than still it is valid, which clearly indicates that, below this trend line, Bank Nifty will stay in negative zone, and turn traders attention, it has to give upside breakout. It looks so simple, isn’t it? But traders don’t take this seriously.

Nifty Trading Strategy

Continue reading

Nifty & Bank Nifty Trading Strategy for 19 June’13

Nifty as on 18 June’13– 5813.60 (-36.45)    Bank Nifty as on 18 June’13– 11820.95 (-150.10)

Yesterday was quite a choppy day for Nifty and Bank Nifty both. It was expected that Nifty can move effortlessly above 5870, but to our surprise Nifty made a high of 5863.40. Traders, it was clear challenge to Bulls party from Bears, we are there and don’t try to underestimate us.

Nifty Trading Strategy

Even yesterday we had mentioned that traders should wait for 5870 to break, above which first target comes at 5975. But, to go short trader has to wait for break below 5775 on closing basis. In between 5870 and 5775, we don’t see any trading opportunity.

Bank Nifty Trading Strategy

As we mentioned yesterday, Bank Nifty is still under risk. We sense that Bank Nifty will move lower further towards 11500 levels. Aggressive Traders can take short call on the market.

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.

Nifty & Bank Nifty Trading Strategy for 18 June’13

Nifty as on 17 June’13– 5850.05 (+41.65)    Bank Nifty as on 17 June’13– 11971.05 (+48.10)

Nifty and Bank Nifty both moved higher in first day of the week. It seems that Bulls are betting aggressively, and Bears are cutting their hands. Whatever the case may be

Nifty Trading Strategy

As we mentioned in our weekly article, traders should wait for 5870 to break. Although looking at yesterday’s price action it seems effortless for Nifty. Above 5870 Nifty has first target of recent swing high of 5975.

Risk takers can go long in Nifty above 5870 with some financial stop loss. Traders can initiate Long Call Option Trading Strategy.

 Nifty Option Strategy – 18 June’13
Strike Price Options Recomm Lot Size Stop Loss
5900 CE 45 50 25

Bank Nifty Trading Strategy

Bank Nifty is still trading under risk, we would advise to wait for one more day.

Bank Nifty Long Strangle is also giving near about 60% return. I am sure many of you must have booked the position already, if not than book it.

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.