Monthly Archives: December 2013

Nifty and Bank Nifty Technical Analysis for 18 Dec’13

Nifty as on 17 Dec’13– 6139.70 (-15.60)    Bank Nifty as on 17 Dec’13– 11208.65 (-164.30)

So finally, in today’s session we’ll see what market is reacting on the RBI Interest rate announcement. What we sense from the market is gradually Nifty has shifted its based towards downside, but move is so minuscule that we can’t confidently bet that Nifty will test 6070 levels, because last sessions move can prove as false move also, you can’t say. Similar situation happens in Bank Nifty.

Trading market at this juncture become little tricky, so if you follow some pivot trading strategy than follow strictly. Still we are hoping some rebound in the Nifty, let’s see, how it unfolds.

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

Nifty and Bank Nifty Technical Analysis for 17 Dec’13

Nifty as on 16 Dec’13– 6154.70 (-13.70)    Bank Nifty as on 16 Dec’13– 11372.95 (+6.05)

Markets are waiting for RBI Interest rate decision, which is due on Wednesday. Considering the fact during last session Nifty and Bank Nifty both traded on subdued note.

Technically, outlook on the market is same as we discussed in our weekly newsletter. If you are not subscriber to it, than just Click here to register,

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

Nifty & Bank Nifty Weekly Technical Outlook for 16th Dec, 2013

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

A question that sometimes drives me hazy: am I or others are the crazy? – Albert Einstein

Trading in a market is not guesswork, but you should also note that with all your analysis market can keep you astray, and that too, for uncertain time period, which can prolong for days, weeks or months also. But, if you confidence in your analysis and have patience to hold your view (can’t say about position), then chances of you to outperform the market is very high.

Honestly, we were looking at few blogs (not keeping track of their performance), who brings together real traders and in all they follow some simple rules and guideline from the mentor, and most importantly patience, that is what they earn, make them consistent, and successful in the market.

Passed week was challenging for many traders who were short in the market, or for few who was trying to put step in the market and make some profit. But unfortunately, after putting lots of efforts and hours, they could not find their pie. Do this means, that you are wrong or do that mean that your analysis was wrong??. Whatever may be the answer, we don’t care. We believe that, you have a solid chance to win, because above question comes in your mind, and that question it self leads to you answer and make legible to grab your pie. All the best.

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Nifty and Bank Nifty Technical Analysis for 13 Dec’13

Nifty as on 12 Dec’13– 6237.05 (-70.85)    Bank Nifty as on 12 Dec’13– 11635.50 (-148.85) Looking on hourly developments we were expecting some bounce back in Nifty and Bank Nifty, but market remained weak throughout the day. Day before yesterday we recommended short in Nifty, and yesterday we asked to exit, but fortunately it has given some profit to our readers. At this point, opportunity of going long is mitigated, unless and until market gives some bounce back from the swing high of 6212, which needs to be carefully watch for, if this level is taken away, we can see further dip towards 6150 level. But, we should not forget, on Friday some profit booking will take place. We are still cautious while taking any position in the market. For going short we are convinced much and Bull power is not visible much.

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

Nifty and Bank Nifty Technical Analysis for 12 Dec’13

Nifty as on 11 Dec’13– 6307.90 (-24.95)    Bank Nifty as on 11 Dec’13– 11784.35 (-59.10)

After making a high on Monday, from last two sessions Nifty is drifting lower but now allowing any shorts to build, by giving Doji and small real candle, which always put you in struggle. It seems that, trader who has patience and capital to bear odd storms can only play the game, and that also they should be quite knowledgeable and must have some logic behind taking a trade position.

Yesterday we said, to go short below 6300 (spot) keeping stop above 6330, so still our stop is not hit, but neither we are in profit also. Based on last hour development it seems that market may trade higher on Thursday, so it is better to exit from short call if taken. Longs can be taken above 6330, keeping stop below 6300.

Similarly, Bank Nifty also saw last hour recovery, so here bounce back can be expected.

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