Tag Archives: Expiry day

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.

Detailed report will be shared in the weekend, you can subscribe here.

Nifty and Bank Nifty Technical Analysis for 31 Oct’13

Our readers must be thinking that we are taking a back foot, but actually we got stuck in some unwarranted circumstances, and that is the reason we could not publish yesterday.

Yes, we got tapped by Big Boys, and let us admit that frankly, we are passing through some real dilemma on personal level, because by no way market seems to be Bullish to us, even we leave aside fundamental scenario of the market, but technically and applying market psychology, this market doesn’t seems to be Bullish, and it is just the Big Boys who are dragging the market.

Our reader turned good friend of ours informed us that there is malicious activity happening around, and there is a fare chance that market can move also higher. Thank You. Even there are few other readers who regularly keep check on us and sometimes share their view, which keeps us alive and give real nerves of the market. If you wish you can also come and share your view.

Finally, month end, expiry end and it’s really difficult to gauge where market is heading. Bank Nifty who helped Nifty to soared higher, now turn sideways, similarly CNX IT Index is also not performing. In simple words, we think it is really difficult to judge the market at this juncture, and we prefer to excuse for time being, and may start rethinking, as we are not missing something. If you think, we are, then please come ahead and open our eyes, it our sincere request.

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

Nifty and Bank Nifty Technical Analysis for 27 Sept’13

Nifty as on 26 Sept’13– 5882.25 (+8.40)    Bank Nifty as on 26 Sept’13– 10098.30 (+16.60)

Most Unforgettable Expiry.

We think this was most unforgettable expiry day. What a tight range was managed in Nifty, Bank Nifty, and CNX IT. Like market was in Holiday, and most players have already settled their contracts. Possibly big players might have already roll-over their position, but still we rarely see that on the day expiry market moves in a such a way.

Now, what is next on the cards?

At first glance, Bank Nifty is still appearing weak to us. Price action in CNX IT Index is suggesting that something is fishy here, otherwise it would have fallen much earlier, and still it is maintaining its stance, that means that there is vested interest in CNX IT Index, it is better to wait for confirmation. Nifty, waiting for breakdown then 5840-5830 would be first signal 5800 would be next, which can take Nifty towards 5700 levels.

We see one probability that today i.e. (Friday) market may give sharp breakdown, (we are not sure for that)

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

Nifty and Bank Nifty Technical Analysis for 26 Sept’13

Nifty as on 25 Sept’13– 5873.85 (-18.60)    Bank Nifty as on 25 Sept’13– 10081.70 (-94.20)

No, we are not out of the market; only running little busy. Sorry for inconvenience.

From last three sessions market is moving extremely volatile way, I would say it is the phase when trader is bound to take wrong decision, and bound to get trap (we are also one in your party). But that is how market is.

Today (26 Sept’13) is expiry day, and looking at recent price action it seems that this session could be one more volatile session of the week, and who knows who has to bear more pain.

Nifty Daily Trading Strategy

If as a trader you enjoy playing volatility, then take long position with stop loss of 5870, and if Nifty turns weak then shorts can be taken below 5830 levels.

Bank Nifty Daily Trading Strategy

It seems that big surprise lies under Bank Nifty. Fresh longs can be taken above 10275 levels, and shorts with stop loss of 10170.

Frankly, if you ask us what is our call on market, than we don’t have any conclusive answer, at least for expiry day, because here many factors play the game. We would prefer to play with pivot trading only.

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

Nifty and Bank Nifty Technical Analysis for 30 Aug’13

Nifty as on 29 Aug’13– 5409.05 (+124.05)    Bank Nifty as on 29 Aug’13– 8904.60 (+143.75)

Expiry over on a Positive Note, does that means big boys are positive on the market. (Sorry, should not interpret this way). But anyways, whatever the case may be at Way2Profits we always believe to stay with trend, and satisfactorily we stick to our simple rule.

Probably, Today (30 Aug) market could be silent, and now it is time to look on serious note. Whether current move is an opportunity to buy the stocks at lower levels or it is just beginning. As of now, we don’t know the answer, but we’ll do detailed analysis by weekend, and share our view with all of you in our Weekly Technical Analysis. To grab the copy of our report with market actionable will get delivered in your mailbox, which is absolutely free. So why to wait and feed your details. Click Here

Keep visiting Way2Profits, for unbiased view on the market.

Nifty and Bank Nifty Technical Analysis for 29 Aug’13

Nifty as on 28 Aug’13– 5285.00 (-2.45)    Bank Nifty as on 28 Aug’13– 8760.85 (-109.65)

After extreme volatility day ends, and ended at an unexpected level. Yes, when day started we were prepared for dip in Nifty, sharp dip, and exactly what happened, made a low of 5118.85 and finally settled at 5285 with just a loss of 2.45; recovery is fine, but total recovery, is it killing away confidence of bears.

Today, August month futures will expire. We are little surprised that people are practically betting where Nifty futures will expire; firstly what is the need for doing this forecasting process, and secondly how it is actually benefited. May be we don’t understand logic behind this competition and our knowledge and understanding is not at par with some smart guys, who bet on exact price levels like August expiry will end at 5235. Now, if this level comes than it is by chance or some real study is involved. Mates, if you have time than please do share your knowledge with us.

It is better to excuse Thursday’s market, just see how market swings.

Keep visiting Way2Profits, for unbiased view on the market.

Bank Nifty & Nifty Technical Analysis for 26 July’13

Nifty as on 25 July’13– 5907.50 (-83.00)    Bank Nifty as on 25 July’13– 10614.00 (-106.15)

Day of expiry is over, and on expiry to expiry basis Nifty closed higher by 225 points, and if we see a range then it roughly 400 points, which is significant move, but with whole lot of whipsaws. At Way2Profits, we had anticipated such kind of move, but our anticipation was smashed in volatility. It was traders who were at mercy.

Now, again nifty settled just above 5900 level, again that crushing range of 5900-5800, where market can do time-pass, or do we see sharp fall from here. We are in support of later; it seems that at this juncture Nifty will not enter into same consolidation phase, probably for some day, but eventually it may move below this level.

CNX IT is giving small real candles from last couple of sessions, and hesitating to move and sustain higher. Although there is no immediate sell signal on it, but should keep watch on it.

Nifty Trading Strategy

From 5900 level we might see some bounce back; in that case Nifty should not move above 5980 level. If you are holding short position then hold with 5980 level. Nifty have support near 5850-5845, below which weakness will extend.

Bank Nifty Trading Strategy

As expected Bank Nifty slumped further in last session. Now, trail stop loss with 10772 (yesterday’s high). Technically, still we can expect some weakness till ~10500 levels.

Bank Nifty & Nifty Technical Analysis for 25 July’13

Nifty as on 24 July’13– 5990.50 (-87.30)    Bank Nifty as on 24 July’13– 10720.15 (-519.55)

Finally Bank Nifty gave up, and gives us some decisive action, after keeping us confused for long time. It seems that Bank Nifty has opened window for downside, and eventually which can drag Nifty also. Only supporting factor is CNX IT which is still running on positive note, but it also has a limitations. Since from beginning of this week, we were really not comfortable in going long, we mentioned this quite often in our daily commentary.

Don’t forget that today is expiry.

Nifty Trading Strategy

Nifty gave weak close, but still holding above few supports. On conservative note we need one weaker close in Nifty. Aggressive traders can go short in Nifty with stop loss of 6050, targeting 5900 levels. Between, 5900-5800 there is risk that Nifty again reenters into congestion zone.

Bank Nifty Trading Strategy

As we were mentioning from last couple of sessions that, below 10970 we are seeing sharp decline in Bank Nifty and it gave. If Bank Nifty sustains below 10850 then we are going to see roughly 10000 levels.

Bank Nifty & Nifty Trading Strategy for 27 June’13

Nifty as on 26 June’13– 5588.70 (-20.40)    Bank Nifty as on 26 June’13– 11066.55 (-114.50)

Sometimes it is real difficult to earn out of the market, and if trader is smart enough to understand this thing, then he can make profits by two ways, one by not losing and second by trading the market when it is in trading mode.

Nifty Trading Strategy

In the last session Nifty stayed below 5680 and does not cross below 5570 level, remain range bound. According to our analysis there was no sure shot call on the market, and that is the reason we stayed out of the market. Now, today you have expiry day, and USD/INR has already shaken the markets, so it is better trade only the breakouts and that to with tight stop losses. Keep watch 5680 on higher side and 5570 on the downside.

Bank Nifty Trading Strategy

We were expecting some weakness in Bank Nifty from last Friday onwards, and finally Bank Nifty made a low of 11033.75 and our level was 10975. We believe Bank Nifty has further potential to move lower, but betting on that is little risky. Technical pullback is also due on the cards but for that traders has to wait for one more day, let expiry get over.

We want to tell our readers of Way2Profits, that we are not in the business to catch each and every move of the market. We believe it is impossible, or you can say we are capable of doing it so. At Way2Profits, we only try to catch best possible trading opportunity. We hope some of you must have already realized the fact, so don’t expect to receive continuous advice on the market. But keep reading for best possible opportunities.

Nifty & Bank Nifty Trading Strategy as on 31 May’13

Nifty as on 30 May’13– 6124.05 (+19.75)    Bank Nifty as on 30 May’13 – 12805.90 (-47.30)

Finally expiry date passed, and Nifty and Bank Nifty remained range bound. I think this time it will be slightly exceptional, because generally on Expiry Day we witness high volatility. It will be interesting to research Nifty and Bank Nifty behavior and ranges on expiry day. If time permits I will present you one.

Nifty closed at 6124 with marginal gains. But in last three sessions it remained almost in same range. Whereas, Bank Nifty is gradually losing ground, and CNX IT is also in midst of the way. Broadly, there is no clear trend emerges out from this observations, and that is the simplest reason, I am saying that Nifty has a equal probability to turn Bullish or Bearish (It’s just broad understanding)

Continue reading