Monthly Archives: August 2013

Nifty Weekly Technical Outlook for 02nd Sept, 2013

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Expiry is over, August month also passed. We think August’13 will be one of most remarkable month of 2013 where Rupee witnessed one of the Sharpest depreciation in its lifetime, which was not only sharp in absolute terms but also in percentage term. And this move has taken away sleep of many. In reaction to that Stock market also collapsed.

Let’s take snap shot of Nifty & Bank Nifty

Mates, week on week basis there is only change of 0.05 only to mention about, because in prior week Nifty closed at 5471.85 and in last week it settled at 5471.80. But last week’s range was 380.55, bit higher than prior weeks range. And also we get big big Hammer on Weekly basis and that to second time in continuation. Does that mean bottom-fishing happening at lower levels?

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Nifty and Bank Nifty Technical Analysis for 30 Aug’13

Nifty as on 29 Aug’13– 5409.05 (+124.05)    Bank Nifty as on 29 Aug’13– 8904.60 (+143.75)

Expiry over on a Positive Note, does that means big boys are positive on the market. (Sorry, should not interpret this way). But anyways, whatever the case may be at Way2Profits we always believe to stay with trend, and satisfactorily we stick to our simple rule.

Probably, Today (30 Aug) market could be silent, and now it is time to look on serious note. Whether current move is an opportunity to buy the stocks at lower levels or it is just beginning. As of now, we don’t know the answer, but we’ll do detailed analysis by weekend, and share our view with all of you in our Weekly Technical Analysis. To grab the copy of our report with market actionable will get delivered in your mailbox, which is absolutely free. So why to wait and feed your details. Click Here

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Nifty and Bank Nifty Technical Analysis for 29 Aug’13

Nifty as on 28 Aug’13– 5285.00 (-2.45)    Bank Nifty as on 28 Aug’13– 8760.85 (-109.65)

After extreme volatility day ends, and ended at an unexpected level. Yes, when day started we were prepared for dip in Nifty, sharp dip, and exactly what happened, made a low of 5118.85 and finally settled at 5285 with just a loss of 2.45; recovery is fine, but total recovery, is it killing away confidence of bears.

Today, August month futures will expire. We are little surprised that people are practically betting where Nifty futures will expire; firstly what is the need for doing this forecasting process, and secondly how it is actually benefited. May be we don’t understand logic behind this competition and our knowledge and understanding is not at par with some smart guys, who bet on exact price levels like August expiry will end at 5235. Now, if this level comes than it is by chance or some real study is involved. Mates, if you have time than please do share your knowledge with us.

It is better to excuse Thursday’s market, just see how market swings.

Keep visiting Way2Profits, for unbiased view on the market.

Nifty and Bank Nifty Technical Analysis for 28 Aug’13

Nifty as on 27 Aug’13– 5287.45 (-189.05)    Bank Nifty as on 27 Aug’13– 8870.50 (-503.05)

Most painful time we are seeing, and worse time is yet to come??

Traders and investors are screaming, brokers are screaming and eventually economy will start screaming. Traders are screaming because it is difficult to trade this market, investors are worried about their portfolio value, brokers are screaming as margins are deteriorating and retail and institutional clients are vanishing, all markets are falling and there is huge margin call requirement across the board, which is difficult to fulfill, and economy will start screaming because Indian Rupee is Plummeting like anything, last sessions was one of the sharpest fall Rupee might have witnessed and we don’t know still how much pain is on the cards. There is no respite from any source. We are sure; if traders are holding any position then they might have already received margin money call from their broker.

Frankly, yesterday we had anticipated some correction in Nifty and Bank Nifty, but not anticipated that, it will so sharp and brutal.

Nifty Trading Strategy

Is there any chance of recovery? Technically, answer is no, and looking at Indian Rupee movement it is very clear that Nifty may open Gap Down, unless and until there is some big announcement from Govt. Body. Cant say as of now. If, Nifty breaks below 5250 then watch for 5150 and somewhere near 5050.

Bank Nifty Trading Strategy

At first go it seems that damage is already done in Bank Nifty, but looking at intensity still some more pain may come. Below 8850, Bank Nifty can test 8550 and 8000 levels.

Keep visiting Way2Profits, for unbiased view on the market.

Nifty and Bank Nifty Technical Analysis for 27 Aug’13

Nifty as on 26 Aug’13– 5476.50 (+4.75)    Bank Nifty as on 26 Aug’13– 9373.55 (-96.55)

Based on last session’s movement it seems that bulls have no power to continue the uptrend, and bears are still having full control over the market. Yes, expiry is due, and that is also playing important role in price movement. In first go, it appears that it kind of reversal in Nifty and Bank Nifty, and now it is better to wait and watch.

Nifty Trading Strategy

Now, taking any position involves high risk, so better to stay away. Broadly, our attention is turning on weak side, with last sessions high as stop loss, and if it has to turn bullish then on opening only prices should start rallying.

Bank Nifty Trading Strategy

Bank Nifty after giving some positive clues on Friday, it turned lower in last session. Now, better to wait and watch.

Keep visiting Way2Profits, for unbiased view on the market.

Nifty Weekly Technical Outlook for 26th Aug, 2013

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Anything has Changed overnight???

During last week market was not only looking at falling prices of Indexes, but was more focused on Indian Rupee, which was depreciating very acutely. And there are reports talking about Rupee going to 70, and now everyone start talking about 70. We are really surprised, where were this analyst when Rupee was trading at 55 or leave 55, take when it was at 60. Anything has changed Overnight??? Personally we don’t know where Rupee can go now, because it is not one factor which drives the market, now there are multiple economic factors involved in this game, and on top of that there are number of Corporate, who are more concerned about Rupee then our Governments. Anyways, we only like to say that we should not get carried away by these reports, you never know, smart money is off-loading their hands to small money. Be Aware.

Let’s take snap shot of Nifty & Bank Nifty

Week begins on a weak note, and on very first day it gave a signal that, it will turn weak and everything was set by Tuesday end, but on Wednesday market opened sharply higher, Bank Nifty opened almost 5-7% up and many stocks; that move was enough to cut your shorts and burn your hands, and bulls by nature must have thought that buy it today, there will be no tomorrow, but whole drama could not sustain much and finally in second half Index started plummeting rapidly, longs which were created in start of the day had to give their stops. It was really a dramatic move. Next day Nifty started recovering and finally week closed with minor loss of 36 week on week basis.

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Weekly Technical View for 26 Aug onwards – Harish Thakkar

Technical Views from our Guest Author Mr. Harish Thakkar

Nifty Daily Chart

Nifty Daily Chart

Weekly Price & Time correction of RSI oversold @25.21 starts to correct after 5 consecutive lower high, lower low. Normal bounce in Uptrend is usually 600 to 700 points. We are in Down trend and as such at least 400 to 500 points bounce can be expected. Previously EOW 17th May 2013 in Uptrend low was 5477 with RSI 30.48 made 5 week HH & HL formation made high of 6199 = 722 points.
Weekly bullish hammer close will show its power to cross 5505 which is High of previous swing 5477 low breaking bar’s failure attempt to win over. Target will be 5660.If we see 5755 the down trend ” V ” shape bottom will show its power to hold. But as Monthly swing break confirmed by closed in breakout area, this daily & weekly 1 or 2 week higher close rally will surrender to Monthly swing down.
Bank Nifty is still looks struggling to hold the bottom. Trade only on 3 day swing high is safe.3 Day swing high is 9766
As per my opinion Monday, Nifty & Bank Nifty must cross over at least hourly macd ” O ” to add strength.

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