Category Archives: Doji

A candle with no body as open is at the same level (a). It indicates high levels of indecision and is bearish if seen at the end of long up moves and bullish if seen at the long down moves.

Nifty & Bank Nifty Weekly Technical Outlook for 18th Nov, 2013

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Nifty Daily Chart

Nifty Daily Chart

Everything we hear is an opinion, not a fact. 

Everything we see is a perspective, not the truth. – Marcus Aurelius 

As always there will be difference of opinion between two generations, and that difference gives birth to revolution and new practices. Market trading was very different than what it is now. We all know the mantra which we used to hear from our earlier generation, that “Buy It & Forget It”, and trust us we come to in close contacts with few gentleman’s who made lot of money and still enjoying their fruits in their retirement. But, now everything has become dynamic, investment has transformed into trading, FII’s buying and selling pattern has changed in last couple of years. Earlier, they use to look at yearly returns, than they started looking at Monthly, than Weekly and now they are concerned about intraday volatility and momentum, still there are few who follow old practice, so we’ll not claim that everybody is in same foot. Point we are trying to make is, all long term forecast (some are making predictions as well, don’t know how), are good to prove the smartness and understanding of individual analyst, but is that good for your trading. Answer lies to you.

At Way2Profits, we try to follow one simple practice, to stay with trend (if it’s there), sometimes we fail and sometimes we manage to catch it in right manner, fortunately, last week we were at right side, hopefully next week. To read, our understanding, you just have to Click here to register, and our report will get deliver in your mail box by Sunday evening. And yes, we neither make any forecast, nor we have magic stick for making predictions.

Nifty & Bank Nifty Trading Strategy as on 29 May’13

Nifty as on 28 May’13– 6111.25 (+28.10)    Bank Nifty as on 28 May’13 – 12950.00 (-11.55)

In the last session, Nifty made a high of 6127.65 and turned back. Didn’t give us a chance to stay long.

Bank Nifty gave a Doji Candle, closed where it opened in the session.

According to my analysis, there is equal chance for Nifty to turn positive or negative, so I will not be surprised wherever it goes. If Nifty turns positive than CNX IT Index can be contributor to it, because Bank Nifty is less optimistic.

Nifty Trading Strategy

Traders can turn attention on long side above 6120-6130 level, with only 20-25 point stop loss. If not, than wait for time being.

In any case, Nifty moves and sustain above 6130 than traders can also Long Call of 6200 of next month expiry, but for which essential condition is close above this level, otherwise it is better to exit from position.

Traders can initiate Long Strangle in Nifty. Continue reading

Nifty & Bank Nifty Trading Strategy as on 02 May’13

nifty doji -way to profits

Nifty as on 30 Apr’13 – 5930.20                       Bank Nifty as on 29 Apr’13 – 12561.55

Nifty moved as per expectation, opened at 5930, moved above 5940 and posted a high of 5962.30 and panic selling button triggered, made a low of 5867.80 and again moved higher. What a roller coaster ride. Finally Nifty settled at same level where it opened, which gave us a candle of Doji.

Doji at important resistance level is clear signal of fading momentum, but to confirm the fact we need subsequent weak close.

Continue reading