Monthly Archives: November 2013

Nifty and Bank Nifty Technical Analysis for 13 Nov’13

Nifty as on 12 Nov’13– 6018.05 (-60.75)    Bank Nifty as on 07 Nov’13– 10583.10 (-175.40)

Since from Muhurat Trading session market is consistently falling, seven sessions are already done and we are down by almost 400 points from the highs of 6400 levels.

Now, we have our own doubts regarding this further fall in the market. Simply, from pre and post Diwali sessions media and experts were bullish. Below, 5900 or 5800 levels, this whole sponsorship programme can go haywire and retail would not be interested to enter at all.

What next. We see support in Nifty at 5980, if this level is taken away then we have further 100 points fall, so keep close eye on 5980, we expect some support here.

Similarly, in Bank Nifty below 10550-10500 we see big fall in Bank Nifty. At this juncture it is evident that Bank Nifty could go down, but if it will go down than everybody has to pay for it. So, fingers crossed.

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

Nifty and Bank Nifty Technical Analysis for 12 Nov’13

Nifty as on 11 Nov’13– 6078.80 (-61.95)    Bank Nifty as on 11 Nov’13– 10758.50 (-154.70)

In our weekly report we said “Nifty has support from swing low of 6079” and it closed there. Looking at movement of Nifty it seems that it is ready to test 5975 levels, but volatility may not allow us to take right decision during the market hours.

Bank Nifty is in make or break situation, but finally it closed day with near Doji Candle, which is sign of indecision, amongst market players; optimistic traders must be searching buying opportunity in the session, while we would prefer to wait, as momentum is indicating downside move, but price action is deciphering support.

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

Nifty & Bank Nifty Weekly Technical Outlook for 11th Nov, 2013

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Nifty Daily Chart

Nifty Daily Chart

The man with Insight enough to admit his limitations comes nearest to perfection- Johann Wolfgang von Goethe

So far, everybody is back in action after Diwali Holiday. Till date, we are following similar kind of move which we witnessed three year back on 5 Nov Diwali 2010, which was the final top for the year and top was tested only in recent past. Does that mean Top is already placed? Whenever market reaches to this kind tops and bottoms, there is always going to be a big tussle between Bulls and Bears and no party would allow single thread to keep loose.

In this situation it is very easy to make Bold Statements that “Top is Placed” or “It is just The Beginning – Chap”. At Way2Profits our approach is very clear, daily we approach market with fresh perspective in mind, and give you unbiased view on the market. To read, our understanding of the market you need to register your email id here and get our report delivered to mail box, at no cost Click here to register

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  • If you are already registered and receiving newsletter in weekend, then no need to re-register, again, you’ll receive report timely.
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PMS Status as on 07 Nov’ 2013

PMS STATUS AS ON 07 NOV

 

PMS has given 14.75% return on existing invested capital, also we have booked some profit earlier which is of the value of INR 716 (which is not taken in % calculation). Now, we like to exit from one stock TVS Motors. We’ll update if we add any stock in the portfolio.

Nifty and Bank Nifty Technical Analysis for 06 Nov’13

Nifty as on 05 Nov’13– 6253.15 (-64.20)    Bank Nifty as on 05 Nov’13– 11498.90 (-115.20)

Nifty made a high of 6342.95 just shy of few point to test and post new high on Muhurat Trading Day. Generally, on Muhurat day we don’t see much momentum and that is the reason Nifty traded in a narrow range.

Nifty Daily Chart

On Tuesday, in pre-opening session market traded much lower and which gave a idea that market is going to remain weak during an intraday. Technically speaking, Nifty has marginally broken long trendline, while one minor trendline is still valid, but if we see Sensex chart than it has given break down from long trendline. After sharp move momentum is weakening and which was quite obvious. Bank Nifty made a fresh high but could not sustain and gave away major gains, in support to that CNX IT Index is also weakening and we can’t resist to make a statement that we anticipate some sharp fall in the IT Index.

So, we have early sign of weakness. Risk takers can take fresh shorts if Nifty struggles to hold above 6250 levels, we may take short position below 6230 with stop above 6250. Don’t forget its early signal.

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

Nifty & Bank Nifty Weekly Technical Outlook for 05th Nov, 2013

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Nifty Daily Chart

Nifty Daily Chart

Happy Diwali Readers

Diwali is the festival which comes with lots of Happiness in our life. Market is scaling higher, and trading near to its highs. If we see just past one year move, than market has given decent ~15% gains, yes, this move was sector specific, stock specific, and that was the mantra for last year, and it is expected to continue even in Samvat 2070 also.

For our valued readers we have small surprise for you as a Diwali Gift which will be shared with you very shortly. (No exclamation mark for sure)

If you wish to read our outlook and grab Diwali surprise for you than Click here to register

Few Clarifications –

  • If you are already registered and receiving newsletter in weekend, then no need to re-register, again, you’ll receive report timely.
  • If you are registered for daily reports then you need to register here to get full weekly report.