Tag Archives: nifty trading strategy

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 and Bank Nifty Technical Analysis for 03 Jan’14

Nifty as on 02 Jan’14– 6221.15 (-80.50)    Bank Nifty as on 02 Jan’14– 11183.20 (-202.40)

Finally, after two weeks of indecision market gave up today, and it seems that downfall may continue in coming sessions.

In the last session, Bank Nifty made a high of 11578.90 and gave away sharply, it is a clear signal that, it is struggling to gather strength and Bears are attacking at crucial levels.

Now what to expect? Nifty keeping 6350 stop loss we might see levels of 6130 and subsequently 6000 levels. Similarly, Bank Nifty will see 10900 and 10700 levels. While trading you need some expertise, if you don’t know the nitty gritty just don’t jump into the trade just by reading this.

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

Nifty and Bank Nifty Technical Analysis for 20 Dec’13

Nifty as on 19 Dec’13– 6166.65 (-50.50)    Bank Nifty as on 17 Dec’13– 11087.45 (-270.45)

We were expecting Nifty to test 6300 level, but unfortunately our expectation did not materialize, Nifty opened with minor gap higher and finally gave away most of the gains, or we can say turning every one skeptical. Technically Nifty formed Dark Cloud Cover and Bank Nifty gave pure Engulfing Bear Candle, both are representative of Bear Camp.  We will see further weakness in Nifty if it fails to hold above 6130 level.

Bank Nifty holds above 200 day moving average (11030), and most of the long stops shall be placed below this level. It seems that trading in Bank Nifty will be challenging here, because you need to take firm decision here, whether to turn Bullish or Bearish. If you ask us, we believe that still one chance should be given, and remain bullish or at least should not take bearish bet. However, momentum is clearly in favor of downside, so if at all Bank Nifty breaks below 11000 level, it should not be big surprise. But as we mentioned above, on an optimistic note, we like to give one more chance.

Just for the clarification, we clearly mentioned that unless and until Nifty breaks below 6230 levels, we are maintaining our positive bias.

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 06 Nov’13

Nifty as on 05 Nov’13– 6253.15 (-64.20)    Bank Nifty as on 05 Nov’13– 11498.90 (-115.20)

Nifty made a high of 6342.95 just shy of few point to test and post new high on Muhurat Trading Day. Generally, on Muhurat day we don’t see much momentum and that is the reason Nifty traded in a narrow range.

Nifty Daily Chart

On Tuesday, in pre-opening session market traded much lower and which gave a idea that market is going to remain weak during an intraday. Technically speaking, Nifty has marginally broken long trendline, while one minor trendline is still valid, but if we see Sensex chart than it has given break down from long trendline. After sharp move momentum is weakening and which was quite obvious. Bank Nifty made a fresh high but could not sustain and gave away major gains, in support to that CNX IT Index is also weakening and we can’t resist to make a statement that we anticipate some sharp fall in the IT Index.

So, we have early sign of weakness. Risk takers can take fresh shorts if Nifty struggles to hold above 6250 levels, we may take short position below 6230 with stop above 6250. Don’t forget its early signal.

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

Nifty and Bank Nifty Technical Analysis for 19 Sept’13

Nifty as on 17 Sept’13– 5899.45 (+49.25)    Bank Nifty as on 17 Sept’13– 10447.85 (+168.25)

After staying dull for most of the day, Nifty gained in last 45 minutes. In fact, in the last article only we mentioned that on hourly time frame Nifty is looking slightly positive. At the same time Bank Nifty is ready to give tough fight now, and who knows it becomes perfomer now. Keep Fingers Cross. On the other side, CNX IT Index is dancing on the tunes of USD/INR movement, it seems that this stocks has lost its own identity and their future is only decided by INR movement,

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Bank Nifty & Nifty Technical Analysis for 21 Aug’13

Nifty as on 20 Aug’13– 5401.45 (-13.10)    Bank Nifty as on 20 Aug’13– 9218.95 (+73.95)

It seems some recovery from lower levels. Bank Nifty made low of 8860 and finally closed in green, which indicates bottom phishing happening at lower levels. It’s not time to rejoice, but yes, if carefully looked at market then you might get some decent trading opportunities. As expected CNX IT index is correcting from higher levels.

Nifty Trading Strategy

Futures is trading at discount to spot which clearly means that still market is anticipating further down move, but if this goes other way then short covering may take this rally further higher. There is some high risk opportunity available with minimal financial risk, grab it.

Bank Nifty Trading Strategy

Our expected level almost reached, and Bank Nifty takes a rebound. It seems that clouds are not so clear, either we should wait for a day or wish to take some risk then jump in, stop losses should be based on your comfort. There is some equal probability trade, if turns long from here then minimum 9600 can be expected.

If we sounds bullish to you, then let us correct, that it may be a mere technical pullback and broadly trend remains down.

Keep visiting Way2Profits, for unbiased view on the market.

Bank Nifty & Nifty Technical Analysis for 08 Aug’13

Nifty as on 07 Aug’13– 5519.10 (-23.15)    Bank Nifty as on 07 Aug’13– 9757.30 (-54.20)

At this point in time we are standing at very crucial juncture. If market breaks from this level then we are seeing some huge round of sell-off. Initially we were of the opinion that chances are very less chance to turn extremely bearish. Still, we think there is equal chance of reversal.

You must be thinking, why we are attaching equal chance. It is not because we don’t know the answer. Based on our analysis, few major factors indicates that market has already turned bearish and we might see some sharp sell-off, and few major observation and analysis, still gives hold signal, means still we should not turn extremely bearish. And we respect both this thought, because both are major. If we synchronize above observations, then we have to give 50-50 chance for both probability.

CNX IT has given indication of turning weak, whereas Bank Nifty may remain range bound for coming few sessions.

Nifty Trading Strategy

Last sessions close is very near to our breakout point of 5000, in fact if broke this level also, and we created short, technically we have to turn short below this level.

Bank Nifty & Nifty Trading Strategy for 16 July’13

Nifty as on 15 July’13– 6030.80 (+21.80)    Bank Nifty as on 15 July’13– 11790.25 (+67.45)

Nifty negated last Fridays potential Hanging Man, it is little relaxing, but still we think that, trader should stay cautious, as it not totally out of woods. CNX IT index after terrific Breakout, creating Island reversal kind of pattern, which is the risk to overall market sentiment. Bank Nifty is looking firmer, and finally manages to move above previous swing high of 11750, although closed marginally higher, but it is the good sign. All in all we have some good, some Ok kind of situation, so don’t be aggressive.

Nifty Trading Strategy

If trader is holding long position then hold with a stop loss of 5980. Fresh position can be taken once Nifty moves above 5930 with same stop.

Bank Nifty Trading Strategy

Based on our weekly recommendation, if trader has initiated long position in Bank Nifty, or bought 11900 CE option, than hold the position, with a stop of 11700.

Nifty Weekly Technical Outlook for 15th July, 2013

Nifty Weekly Chart as on 12 July,13

Nifty Weekly Chart as on 12 July,13

Nifty Daily Chart as on 12 July, 13

Nifty Daily Chart as on 12 July, 13

Grinding is over, and Speculation Begins…

After last week’s grinding move, finally Nifty gave breakout. Basically, last two weeks were nerve breaking for all traders. Every week, we learn something from markets and something from our mistakes. To become good trader, you should always try to learn from your mistakes.  According to our understanding, last week’s lesson was Patience. In all the conditions traders has to keep patience and wait for right opportunity and grab it like a panther when it comes.

Let’s take a Technical View on Nifty.

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