Tag Archives: Long Strangle

Nifty & Bank Nifty Trading Strategy as on 11 June’13

Nifty as on 10 June’13– 5878.00 (-3.00)     Bank Nifty as on 10 June’13– 12087.05 (-144.45)

 Market playing hide and seek with traders. Just see price change in last five trading sessions.

 Date Close Change
4/6/2013 5919.45 -19.85
5/6/2013 5923.85 4.4
6/6/2013 5921.4 -2.45
7/6/2013 5881 -40.4
10/6/2013 5878 -3

Nifty Trading Strategy

It is really difficult for taking a call on market, when you don’t get any conclusive move to decide for further action.  Bank Nifty made a low of 12017 but gave close above 12070 at 12087, but it seems that now Bank Nifty can continue to move lower.

Yesterday’s high low in Nifty will play decisive role to take action; 5935 on higher side and 5855 on the downside. Conservative traders should wait for going long in Nifty above 5975.

Continue reading

Bank Nifty Technical Analysis Outlook for 10 June, 13

Bank Nifty as on 07 June'13 - 12231.50 (-244.15) Weekly Chart

Bank Nifty as on 07 June’13 – 12231.50 (-244.15) Weekly Chart

Bank Nifty as on 07 June’13 – 12231.50 - Daily Chart

Bank Nifty as on 07 June’13 – 12231.50 – Daily Chart

In last five trading sessions of the week; Bank Nifty moved in a very narrow range with negative bias. Unfortunately, if you on short side than on Thursday your short were taken away, and if Long on Thursday then your stop would be taken away on Friday.

In such a tapered range what to expect further, let see-

  • Week on week basis Bank Nifty lost only 244.15 points, but consecutively it is third week where we got negative close, after posting life time high.

(To read further, download report)


Nifty & Bank Nifty Trading Strategy as on 4 June’13

Nifty as on 3 June’13– 5939.30 (-46.65)    Bank Nifty as on 3 June’13– 12402.10 (-73.55)

Nifty & Bank Nifty continued moving lower also on Monday, but CNX IT index moved higher as Infosys was in lime light. I saw many analyst were blindly betting on Infosys and giving some huge targets, I don’t know whether it achievable or not, but as far Technical’s are concerned I think, Infosys has turned lower exactly from 2625 which is crucial resistance point. Below this level I expect Infosys to stay in the mixed range, above which it enters into fresh bullish territory. What I am trying to explain is, if you don’t understand the basics than just don’t jump into such high volatile stock, even though you respect Mr. Narayan Murthy.

Continue reading

Nifty & Bank Nifty Trading Strategy as on 30 May’13

Nifty as on 29 May’13– 6104.30 (-6.95)    Bank Nifty as on 29 May’13 – 12853.20 (-96.80)

Nifty is hovering near it previous swing high, and finally settled with marginal loss. Price movement indicates minor support from lower level, but lack of strength in moving higher. Practically its minor double top of situation, as prices moved back after making a high of 6125.05 and previous day’s high is 6127.65.  Momentum stands at a place where any party can drag it further, so we have to see, who comes ahead first.

Bank Nifty, after giving Doji in previous session, remained lower in last session. Not moving higher above 12960 which is previous swing high. Momentum is also fading.

Nifty Trading Strategy Continue reading

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 Technical Analysis as on 13 May’13

Nifty is very near to test its recent swing high of 6111.80, but little far from testing all time high of 6338.50, as Bank Nifty is very close to it. After such a sharp rise in matter of just 18 trading sessions, most of the traders and analysts (including me) are skeptical whether Nifty will continue to move with such vigor?

According to my analysis, from this point onward technically Nifty has a potential to move towards 6150, and subsequently 6300. I am saying technically, because if tomorrow some Global News flash than we don’t know how market players will react to it.

Momentum oscillator RSI (14) is still in support of rising prices, although intensity may reduce, but still it can walk further.

Bank Nifty & CNX IT has a chance to move further, which in turn may support to Nifty also. Risk from here is, If Nifty does not move higher and turn sideways than gradually momentum will start falling and negating upside possibility.

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