Monthly Archives: October 2013

Nifty and Bank Nifty Technical Analysis for 1 Nov’13

Nifty as on 31 Oct’13– 6299.15 (+47.45)    Bank Nifty as on 31 Oct’13– 11473.20 (+223.80)

Month and expiry is over, and finally all Bears were brutally attacked and defeated. Nifty is ready to retest the highs of 2007 as Sensex just fell of only few pips to test the level than why not Nifty, so undoubtedly it will be tested in today’s session, may be with gap up opening only.

Price action is indicative that market will go higher and may sustain also, as most of the Bearishness is negated, but it is just for the sake of Diwali or it real, it is difficult to answer at this point in time. We would advise if at all you are going long than it is better to book profit in an intraday and maintain stop loss. Yes, bias is upward now, unless and until it gives us any strong clue to turn back.

Detailed report will be shared in the weekend, you can subscribe here.

Nifty and Bank Nifty Technical Analysis for 31 Oct’13

Our readers must be thinking that we are taking a back foot, but actually we got stuck in some unwarranted circumstances, and that is the reason we could not publish yesterday.

Yes, we got tapped by Big Boys, and let us admit that frankly, we are passing through some real dilemma on personal level, because by no way market seems to be Bullish to us, even we leave aside fundamental scenario of the market, but technically and applying market psychology, this market doesn’t seems to be Bullish, and it is just the Big Boys who are dragging the market.

Our reader turned good friend of ours informed us that there is malicious activity happening around, and there is a fare chance that market can move also higher. Thank You. Even there are few other readers who regularly keep check on us and sometimes share their view, which keeps us alive and give real nerves of the market. If you wish you can also come and share your view.

Finally, month end, expiry end and it’s really difficult to gauge where market is heading. Bank Nifty who helped Nifty to soared higher, now turn sideways, similarly CNX IT Index is also not performing. In simple words, we think it is really difficult to judge the market at this juncture, and we prefer to excuse for time being, and may start rethinking, as we are not missing something. If you think, we are, then please come ahead and open our eyes, it our sincere request.

Keep visiting Way2Profits, for unbiased Daily view on the Nifty and Bank Nifty.

Nifty and Bank Nifty Technical Analysis for 29 Oct’13

Nifty as on 28 Oct’13– 6101.10 (-43.80)    Bank Nifty as on 28 Oct’13– 10773.20 (-123.30)

Three days left for expiry and almost six days for Diwali, and market has given first sign of weakness, is it going to crack down in coming days?

Nifty almost reached to threshold limit for confirmation of weakness, and we are ready to initiate short in the Nifty only we need to keep check whether it proves to be false breakdown or not? In the Bank Nifty still one more weak close below 10680-10650 is needed, if not than we may trap in false breakdown.

Trading levels may be tricky, and it depends upon the individual personality and trading style. On the downside we are targeting 5920-5900 levels, please don’t ask us this expiry or next expiry

Keep visiting Way2Profits, for unbiased Daily view on the Nifty and Bank Nifty.

Nifty & Bank Nifty Weekly Technical Outlook for 28th Oct, 2013

Nifty Daily Chart

Nifty Daily Chart

Banking Index Daily Chart

Banking Index Daily Chart


One of the funny things about the Stock Market is that every time one person buys, another sells, and both think they are astute. – William Feather

Sensex reached to the psychological level of 21000 near to Diwali time, and just one week before the futures market expiry. As always, markets chit-chat with all good and bad views, and have full sauce to confuse the retail and small investors.  Basically, playing with sentiments is the name of market trading, and that is exactly what is happening in the market. Because, if we see fundamentally market has no or very few reason to contribute to this rally, just because it is in sprint, smart speakers are coming with some findings, which were there just because market is at this place. And technically, it is perceived that markets are exhausted and either top is done or about to done. But does this market listen to any of us, or just dance on the tune of Big Boys…

We try to put our point with our technical understanding, and we assume that fundamentally you are sound enough or at least reading some news paper, so we’ll not take much of your time in that.

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PMS Status as on 26 Oct’ 2013

Portfolio has given almost more than 8% return in less than one month time period. We are removing two stocks NATCO PHARMA and GM BREWERIES from our portfolio. And adding two stocks one is valued at 161.85 and another is 689.80 (both are slightly high risk stock) and will update the name soon.


Nifty and Bank Nifty Technical Analysis for 25 Oct’13

Nifty as on 24 Oct’13– 6164.35 (-14.00)    Bank Nifty as on 24 Oct’13– 10902.50 (+21.80)

Rally which tested psychological level of 21000

Most of the seasoned traders and investors were eyeing for 21000 levels and finally it reached, hurray…

In line with that Nifty also made a fresh high of 6252.45 after Nov’2010. But joy could not last long; market reacted quickly and finally settled lower, which gave a candle of Doji Star in Nifty and Shooting Star in Bank Nifty.

Nifty is trading on support of trading line, and which is about to break on any weak closing. Most of the sentiments are exhibiting weak bias, but still tussle between bulls and bears are not over, bulls are ready to fight back. Technically, close below 6125-6115 will confirm underlying weakness.

Although Bank Nifty is still yet to confirm the weakness.

Keep visiting Way2Profits, for unbiased Daily view on the Nifty and Bank Nifty.

Nifty and Bank Nifty Technical Analysis for 24 Oct’13

Nifty as on 23 Oct’13– 6178.35 (-24.45)    Bank Nifty as on 23 Oct’13– 10880.70 (+71.60)

After two days of indecision market turned volatile. On closing basis Nifty gave candle like Hanging Man which adding vigor to our skepticism. From this level, obviously two probable scenarios emerge, and most of the readers want to know that whether to turn bullish from this level, or bearish? Strategy should be Buy on Dips or Sell on Rallies?  Now, we are more biased towards downside, and we prefer to go with an Idea of Sell on Rallies. But don’t you forget, that derivative data and few sentiment indicates that still some buying can emerge and which may take indices higher, any which ways Bank Nifty is looking positive altogether and now PSU banks are coming into play. So even if we have to go for sell than why not go in phased manner with Big Boys; may be 6300+ level is good to level to look for selling opportunity.

Keep visiting Way2Profits, for unbiased Daily view on the Nifty and Bank Nifty.

Nifty and Bank Nifty Technical Analysis for 23 Oct’13

Nifty as on 22 Oct’13– 6202.80 (-2.15)    Bank Nifty as on 22 Oct’13– 10809.10 (+11.50)

Technically speaking, there is no major change in prices of the indices. But last two sessions, very small real body creates skepticism amongst market players. Many factors indicates exhaustion of trend, but there is no confirmation yet, which is needed. Unless and until, we see some sharp price action, we cannot conclude that trend is over.

Keep visiting Way2Profits, for unbiased Daily view on the Nifty and Bank Nifty.

Nifty and Bank Nifty Technical Analysis for 22 Oct’13

Nifty as on 21 Oct’13– 6204.95 (+15.60)    Bank Nifty as on 21 Oct’13– 10797.60 (+52.70)

In our weekly update we discuss about price action in past, as market is approaching near to the top.  Today, morning we were browsing through some news, we came across the video of Ace Fund Manager Mr. Samir Arora and his one statement hits to our mind, that “everybody is talking about market is near all time high, but Does this look alike all time High”. Probably exactly what we tried to say in our weekly report.  (Hopefully, one day we can also describe whole story in just one statement – Amin) If anybody wish to hear him then click here

Coming on to today’s market. Nifty and Bank Nifty both remained range bound, although few stocks were outperformed the markets. But, if we see Indices then it is the signal of indecision, now we have to see who comes ahead next day.

Few of our readers asked us, whether you see Inverted Head & Shoulder patter in Nifty? In simple words answer is No. Look at patterns where it is likely to happen. Every structure is not necessarily emerge as particular pattern.  We know that this confusion is created by few brokerage houses and few bloggers.

Nifty Trading Strategy.

Retail participants must be looking for entry point in Nifty, as they have missed out feeling. We would suggest don’t get carried away. If at all you want stay in market, go stock specific now its high time for Nifty. Keep Patience, you’ll also get chance.

Bank Nifty Trading Strategy

Frankly, we are of the opinion that Bank Nifty can test 11200 levels, but not convinced much by looking at breadth of the market and price behavior. Here, also we like to stay apart.

Keep visiting Way2Profits, for unbiased Daily view on the Nifty and Bank Nifty.