Tag Archives: Bank Nifty View

Nifty Weekly Technical Outlook for 17 Aug’15

Happy Independence Day

Momentum is not the only trade…

Last week was another super challenging week for all of us, Monday-Profit Booking, Tuesday-Sell-off continued (Parliament logjam), Wednesday-Yuan worries, Thursday-CPI data came and gave minor relief, and lastly Friday-WPI and hope of another rate cut and reschedule of Parliament session. So by Wednesday people started talking about sub 8000 levels and suddenly on Friday hope of new highs. Now it becomes a fashion to drive by momentum, you’ll see very rare talks about standing contra to momentum, as fear of failure may take front seat while speaking anything contra. So let’s see whether we should go contra or join hands with momentum.

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outlook on nifty 17 Aug'15

Nifty and Bank Nifty Technical Analysis for 10 Jan’14

Nifty as on 09 Jan’14– 6168.35 (-6.25)    Bank Nifty as on 09 Jan’14– 10970.45 (-83.25)

The way in which market is behaving is raising our concern. Initially we thought that probability of market taking bounce from this level was higher, but last two days price action and market breadth is not supporting our thought process (although we are on a long side), but may be now it has equal probability or near to equal probability to turn bullish or bearish.

Our cause of concern is keeping tight stop loss. In any case if we keep tight stop loss than for sure we have to surrender and book the minor loss, and if we are keeping a stop than we are playing with risk. Honestly, we don’t know what to do, at this point, may be we’ll look for first half and hour movement and take our call, which is again more judgmental rather precise.

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

Nifty and Bank Nifty Technical Analysis for 09 Jan’14

Nifty as on 08 Jan’14– 6174.60 (+12.35)    Bank Nifty as on 08 Jan’14– 11053.70 (+16.95)

In last two sessions, gradually range is getting skewed, and in the last session it traded on extremely subdued note. We believe that “Low Volatility in the market will beget High Volatility” in days to come.  It seems that Nifty and Bank Nifty both has taken support and likely to move on positive note, but both are trading on edge, so taking aggressive bet may also take toll from us.

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

Nifty and Bank Nifty Technical Analysis for 19 Nov’13

Nifty as on 18 Nov’13– 6189.00 (+132.85)    Bank Nifty as on 18 Nov’13– 11142.30 (+331.10)

What smart reversal, although it was difficult to monetize this move as it already opened gap up, and in such situation it becomes extremely tricky to initiate position.

Anyways, recent setup is indicating that bullish momentum will continue in days to come. But, we have to see how Nifty reacts near 6200 levels, above which Nifty will attempt to retest the swing highs, but whether it succeeds or fail is a big question.

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

Nifty and Bank Nifty Technical Analysis for 14 Nov’13

Nifty as on 13 Nov’13– 5989.60 (-28.45)    Bank Nifty as on 13 Nov’13– 10523.40 (-59.70)

Nifty and Bank Nifty both closed near to our expected levels, and now it’s thrilling situation for us, whether market breaks or holds above this levels, or just gives false breakout and take reverse? We don’t know, what is going to happen.

In today’s session we might see some profit booking, as Moharram Holiday of 14 Nov is postponed by one day i.e. on 15 Nov, and then after we have weekend, so probably traders may not carry their position.

We keep close eye on 5980 and 10500 levels.

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 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.

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