Tag Archives: Nifty Technical Analysis

nifty technical analysis, daily technical analysis on nifty

Nifty Weekly Technical Outlook for 11May’15

Optimism is the faith that leads to achievement. Nothing can be done without hope and confidence. – Helen Keller

Last week was quite a challenging week for hardcore bull, in fact from last four weeks markets are in control of bears, and it is very much prominent that they are still in control. But important psychological shift which I observed during last week was that now all Big Boys are started downgrading Indian markets, so called fundamental opinions have reduced their weight-age over Indian markets, and they are looking support for the market anywhere between 7500 to 7000 levels. What a paradigm shift in their confidence and sudden change in outlook; I don’t think there is any fundamental shift we are witnessing in the markets.

Let’s start week on an optimistic note and flow with the trend.

technical  analysis chart of nifty for week 11 may

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Nifty Weekly Technical Outlook for 20 Apr’15

It’s all about Analysis???

Most of the hardcore traders starts their day with preparation, they prepared themselves in advance with action plan for some probable scenarios (if you don’t fall in this category, then I would suggest follow this rule strictly). Even I start my day with work done last night, and most of the time I go right and feel proud of myself. Now, you must be thinking that I am applauding myself, right??? No, I am not. The point I am trying to make is even after going right on analysis part, I am losing on my trades. Now, you must be thinking how it is possible? Let me come directly to the point, last week in the beginning itself I was anticipating that Nifty is likely to find resistance near 8850-8900 levels, and which I had already shared here, however, when Nifty made a high of 8844.80 I was anticipating further rise, may be gain of couple of more points, but eventually Nifty gave up all the gains on same day and closed significantly lower. Now, the bull inside me stopped me to look real picture, and still I thought maybe it is just one day, you might see some recovery tomorrow, but it did not materialized and now we are standing at 8606 levels. By sharing this thought, I am trying to make a point that, it is not just analysis; it is also your mindset which plays vital role to make you a good trader. Let’s check the current health of the market and how to remain more vigilant and objective to get best out of the market.

weekly technical analysis 20 Apr'15


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Nifty Weekly Technical Outlook for 13th Apr, 2015

Win over your emotions.

Many of my readers must be thinking that, it is easy to do an analysis and writing once market is over. I certainly agree with them, and may be after looking at last Thursday’s  and Friday’s price action, when Nifty almost gave a signal of breaking down and recovered from the lows. Honestly, it is very difficult to stay firm and maintain long position, if you are sitting in front of screen, even it was difficult for me. Today it is very easy for me to say that Overall tone of the market is Bullish, and Nifty was about to go higher after making a low. No I wouldn’t say this, rather I would admit that it was difficult and challenging task. From above observation, time and again I am coming across only one thought; You can make money in the market not with winning strategy, but with winning over your emotions.  Continue reading

Nifty & Bank Nifty Weekly Technical Outlook for 06th Apr, 2015

Last week, we discussed about three possible scenarios which could take place, and Nifty maintained to stay float above 8269 levels. On 7th April RBI monetary policy would be announced and moreover market participants are expecting one another rate cut in this policy, now it is difficult to judge and say that how market reacts based upon the announcements, status-quo in the policy turns out to be disappointment, or market takes it lightly and move in its own rhythm. Now let’s take a look at what charts are suggesting.

nifty weekly technical analysis 06 april'15


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Nifty Weekly Technical Outlook for 30 March, 2015

When everybody is sailing in the same boat.

I was just thinking when every market participants will start thinking in the same line, what could be the outcome? Let me put it this way, when Nifty started moving below 8900 in this month, I started contemplating that what could be possible scenarios going ahead, and after some analysis I came with 2 scenarios out of which one was retesting of 8470 levels and at max ideally it should test 8410-8420 levels, and as market started drifting lower everybody started speaking about the same level. (Please, here I am not trying to prove myself better). And what happened in last 2 trading sessions, 8470 is easily taken out by bears, and honestly even I have not anticipated that market will make such low (8269), so quickly. Anyways, that is how the market is.

Continue reading

Are you scared, your stock prices going down & down?

NIFTY 20 March 2015


Honestly, looking at last week’s price action I was little scared as constantly I was looking at screen and as a diehard bull I was not in a condition to digest such carnage.  It was not biggest fall which I was observing, but it was breakdown of key supports which was part of big concern for me. In the hindsight I was fearful, and then I saw all my charts most of which were showing breakdowns or sign of weakness, momentum was fading away (it also includes Nifty, Bank Nifty, Auto Index), but what I was worrying is about losing short term momentum, but if we talk about slightly longer term perspective, most of this stocks will provide me an opportunity to accumulate at lower levels – levels for which I was waiting for, may be you must also have thought in rising market that ohh gosh…If I would have bought such superb stock at lower levels I would have made so much money. Now when markets are providing us such opportunity we are running out of our mind and getting cautious with this fall. Here I think quote of Sir Warren Buffett suits very perfectly.

Be fearful when others are Greedy and be Greedy when other are fearful.

Now, you must be thinking it is easy to say then preach. I certainly agree with you, even it is difficult task for me, but that is the way to make money, whether you agree or not. Here I am not giving you any tip, but I am sharing you my view.

If we talk level specific, Nifty has good support between 8470 to 8420 levels, so one may look for buying opportunity Index reaches near this levels. Few of the banking stocks are approaching near support zone, may be further 3-5% correction in such stocks can’t be overruled, but if it does than it must be excellent opportunity for long term investors. So I would only say that prepare your wish list of stocks and keep an eye. All the best…

Also I observed one good thing and one bad thing about our market, bad thing was market falling consistently, and what I would say as good thing is that even though FII’s were net buyers, DII’s were also net buyers, but still our market was falling, now you’ll say why I am taking this in positive sense, because we were breaking the common conception that predominantly our markets are driven by FII’s money flow, but this time it is something else may be HNI are selling or Treasuries, that detailed research needs to be done.

Nifty and Bank Nifty Technical Analysis for 14 Jan’14

Nifty as on 13 Jan’14– 6272.75 (+101.30)    Bank Nifty as on 13 Jan’14– 11021.60 (+216.30)

See the classic case, how market can trap us. Up till last Thursday we had a strong feeling that market may go higher, but looking at Friday’s price action we were forced to review our stand and turn in sync with the market, which was likely to go lower. In fact, we also mentioned that even though Bank Nifty pierce 11000 level, but ideally it would not hold below this level. And see what happened, market moved sharply higher. Even by putting best of understanding and price behavior you had a fare chance to go wrong, and market proved us wrong, for a day.

Now, what to expect? Taking contrarian view, it is possible that once again market may trap the bulls who have taken fresh position today by moving in a sideways.  On an optimistic note, Nifty can test 6360+ levels.

Bank Nifty if holds above 11000 than it is fine, but below which there is no meaning to stay long. If there is real strength in Bank Nifty than we would like to see close above 11150 level, otherwise we will take this move as a trap.

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

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 07 Jan’14

Nifty as on 06 Jan’14– 6191.45 (-19.70)    Bank Nifty as on 02 Jan’14– 11049.05 (-132.60)

There is nothing much to infer from price action. Only Banking Index is turning weak, but still support of 11000-10900 is intact and CNX IT index may cool-off, but it is early to comment on it.

It’s testing times, Bears who are already short in the market may be enjoying the fruits, but we believe it is more risky bet here. Let’s see, what is price action today, meanwhile we are just spectators.

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

Nifty and Bank Nifty Technical Analysis for 19 Dec’13

Nifty as on 18 Dec’13– 6217.15 (+78.10)    Bank Nifty as on 17 Dec’13– 11357.90 (+149.25)

In line with our expectation Nifty witnessed smart bounce in the last session.( For your info)

RBI governor keep repo rate unchanged and that was the trigger for the market. Technically, it was more visible and we have already communicated with all our readers.

It seems that still Bank Nifty has to struggle a bit to prove its point, however Nifty is ready to move further higher unless and until it breaks below 6230 (futures) levels. Sooner we 6300 +levels,

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