Tag Archives: daily market view

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.

Nifty and Bank Nifty Technical Analysis for 11 Dec’13

Nifty as on 10 Dec’13– 6332.85 (-31.05)    Bank Nifty as on 10 Dec’13– 11843.45 (-222.45)

We stopped writing about daily market outlook in last month or so. Meanwhile we received few mails making a complaint and few literally unsubscribed us, thought we are done. Honestly, we didn’t plan to disappoint anyone, but we thought, actually there is no meaning in giving daily write ups. Anyways, we are starting again, hope it make sense to few regular readers of our site. If you want to share your comments and view than please come ahead.

There is lot to talk about in the market other than market in itself. Should we call this move as emotional short term rally, based on sentiments alone, or do we have anything conclusive to cheer. Finally, Nifty made a new high, that’s it. Based on our understanding, actually there are only few winners in the market, and rest all are spectators and few stuck on the wrong side.

Rather, talking lengthier we come directly to the point, what you must be expecting from us. What next.

See, even though market corrected on Tuesday, but still Nifty seems in Euphoric mood, so this is not the position to take shorts, there are high chances that you stuck in that, but if you ask us to take long, than here also we are skeptical.  So, if at all we are forced to take long, than we like to go long above 6370 slightly above Tuesdays high, and Short below 6300 keeping stop of 6330.  We are not very sure to take directional call at this point in time.

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