Tag Archives: Sensex

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.

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Nifty & Bank Nifty Weekly Technical Outlook for 28th Oct, 2013

Nifty Daily Chart

Nifty Daily Chart

Banking Index Daily Chart

Banking Index Daily Chart


One of the funny things about the Stock Market is that every time one person buys, another sells, and both think they are astute. – William Feather

Sensex reached to the psychological level of 21000 near to Diwali time, and just one week before the futures market expiry. As always, markets chit-chat with all good and bad views, and have full sauce to confuse the retail and small investors.  Basically, playing with sentiments is the name of market trading, and that is exactly what is happening in the market. Because, if we see fundamentally market has no or very few reason to contribute to this rally, just because it is in sprint, smart speakers are coming with some findings, which were there just because market is at this place. And technically, it is perceived that markets are exhausted and either top is done or about to done. But does this market listen to any of us, or just dance on the tune of Big Boys…

We try to put our point with our technical understanding, and we assume that fundamentally you are sound enough or at least reading some news paper, so we’ll not take much of your time in that.

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Nifty and Bank Nifty Technical Analysis for 25 Oct’13

Nifty as on 24 Oct’13– 6164.35 (-14.00)    Bank Nifty as on 24 Oct’13– 10902.50 (+21.80)

Rally which tested psychological level of 21000

Most of the seasoned traders and investors were eyeing for 21000 levels and finally it reached, hurray…

In line with that Nifty also made a fresh high of 6252.45 after Nov’2010. But joy could not last long; market reacted quickly and finally settled lower, which gave a candle of Doji Star in Nifty and Shooting Star in Bank Nifty.

Nifty is trading on support of trading line, and which is about to break on any weak closing. Most of the sentiments are exhibiting weak bias, but still tussle between bulls and bears are not over, bulls are ready to fight back. Technically, close below 6125-6115 will confirm underlying weakness.

Although Bank Nifty is still yet to confirm the weakness.

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