Category Archives: Long Puts

Bank Nifty & Nifty Technical Analysis for 20 Aug’13

Nifty as on 19 Aug’13– 5414.75 (-93.10)    Bank Nifty as on 19 Aug’13– 9145.00 (-305.85)

Selling pressure continued even in last session. Looking at intensity of fall it seems that sellers are ready to sell at whatever price they get, targeting much lower levels. Finally, we have close slightly above 5400 levels. Now, for sure weakness sets in, and every rise should be utilized as selling opportunity, but trader’s needs to be tactical here. Probably on immediate front you might not get quick returns but in longer term, it will be fruitful. If you are long term investor then we think still there is some time to enter into the market.

One important point we like to high light here is that, if we see past history of Bank Nifty, then we have not seen such consistent brutal fall.  There are some moves, but we think this one is special.

Nifty Trading Strategy

On hourly time frame there is Positive Divergence building up, but in such prickly fall relying on this phenomenon is quite risky. We are of the opinion that below 5400 levels, Nifty can show you 5000 levels or probably much deeper correction. We exited from our PE option also.

Bank Nifty Trading Strategy

In our weekly trading strategy, we asked our readers to go long only above 9450 levels, and Bank Nifty opens at 9425 and that was the high. Since from quite a few weeks, we were expecting 8800 levels, but it will come so fast, we had not expected it.

Keep visiting Way2Profits, for unbiased view on the market.

Nifty & Bank Nifty Trading Strategy as on 24 May’13

Nifty as on 23 May’13– 5967.05 (-127.45)    Bank Nifty as on 23 May’13 – 12636.50 (-371.25)

And finally prices moved substantially lower.

At Way2Profits, we are expecting such move and we have mentioned in our last articles also. When you follow Technical Analysis, you actually don’t need to search for reason, reason will follow the suit. Yesterday, it was Nikkei than global cues, anyways.

Nifty Trading Strategy

We were expecting Nifty to turn lower. In last article, I had mentioned that go short below 6070-6065 with immediate target of 5975, which easily came. Now, what next?

Nifty closed at 5967, in the similar range Nifty has support from previous swing high. Now, it is advisable to go short only below yesterday’s low of 5955, for which initial target comes near 5900. From this level, practical stop loss is far, so trader has to follow financial stop loss.

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