Tag Archives: technical analysis

technical analysis, technical analysis blog

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 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.

Nifty & Bank Nifty Weekly Technical Outlook for 02nd Dec, 2013

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

“Ham Me Hai Hero”

Every market runs on hope, greed and fear, for that matter, in fact every business runs on the same principles, and it is those who understand the psychology in best possible manner wins the race, turns out to be a hero of the game. For our markets, somebody calls FII’s as a Hero of the market, or sometimes we feel that they are purposely portrayed as a hero, basically their unity, understanding and money flow gives them upper hand to diktat the market. But, if our understanding is right, we have done our home work and remained objective than we can proudly say that “Ham Me Hai Hero”

Expiry is over, and now everybody is eyeing on Election results which are due in next week. Many speculations rolls around the market, about USD/INR situation, impact post result announcements. At this juncture traders are more concerned about their standing position other than nation’s future, hard fact, but reality. In this situation we are trying to analyze things in our way, with clear focus on what should be the trading strategy in the coming weeks.  If you wish to read more about our understanding than you need to register here

Nifty and Bank Nifty Technical Analysis for 13 Nov’13

Nifty as on 12 Nov’13– 6018.05 (-60.75)    Bank Nifty as on 07 Nov’13– 10583.10 (-175.40)

Since from Muhurat Trading session market is consistently falling, seven sessions are already done and we are down by almost 400 points from the highs of 6400 levels.

Now, we have our own doubts regarding this further fall in the market. Simply, from pre and post Diwali sessions media and experts were bullish. Below, 5900 or 5800 levels, this whole sponsorship programme can go haywire and retail would not be interested to enter at all.

What next. We see support in Nifty at 5980, if this level is taken away then we have further 100 points fall, so keep close eye on 5980, we expect some support here.

Similarly, in Bank Nifty below 10550-10500 we see big fall in Bank Nifty. At this juncture it is evident that Bank Nifty could go down, but if it will go down than everybody has to pay for it. So, fingers crossed.

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

Nifty and Bank Nifty Technical Analysis for 18 Oct’13

Nifty as on 17 Oct’13– 6045.85 (-43.20)    Bank Nifty as on 17 Oct’13– 10336.60 (-52.70)

Talk of the town was CNX IT Index, which plummeted sharply in the day. CNX IT Index 8797.85 lost 322.45 down by more than 3.5% in an intraday session. Even Nifty and Bank Nifty remained weak, but it traded on a choppy note. Ultimately, traders who were focused on IT Index minted money, rest all were waiting for better sell level towards 6200+ as it was an ideal level to go for short.

Although Nifty gave away 43 points, but Bank Nifty was only down by 52 points, and in fact in an intraday session it tried to recover the losses, which indicates that buying is emerging at lower levels.

Continue reading

Nifty and Bank Nifty Technical Analysis for 11 Oct’13

Nifty as on 10 Oct’13– 6020.95 (+13.50)    Bank Nifty as on 10 Oct’13– 10289.00 (-46.00)

Big players are puzzling with retail investors. It is really difficult to presume that where they are guiding the markets. In the last session, Nifty and Bank Nifty more or less remained static, as against expectation of some bullish momentum.

Now, based on pure technical’s small real body near resistance levels (bank nifty) creates skeptical atmosphere, something similar in Nifty also, small real body after smart gains of earlier session.  Price action creates doom, but if we see some past action than we add one more doubt to our understanding that, market is behaving in an irrational manner (may be our logics are irrational too), so you never know what could be next move.

Nifty Trading Strategy

Although, we are little skeptical but we stick to our guns and prefer to go long on dips. Please note, risk involvement is becoming higher now.

Bank Nifty Trading Strategy

In the Bank Nifty we like to take fresh bullish call only above 10650 only, until that time we may excuse Bank Nifty. Bye Bye…

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

Nifty and Bank Nifty Technical Analysis for 09 Oct’13

Nifty as on 08 Oct’13– 5928.40 (+22.25)    Bank Nifty as on 08 Oct’13– 10141.50 (+59.40)

Day when you are a winner, and still you are a loser. Market moved higher in line with our expectations, especially Bank Nifty witnessed significant rise, but unfortunately it was just gap up opening and subsequently reversal, total reversal.

Nifty made a high of 5981.70, broke the myths, broke the fractal high of 5950 and made force exit for shorts in the Nifty, thrown challenge to everyone and then started reversing quickly.

We were expecting Bank Nifty to test 10400 levels, it made a high of 10451.20 and we thought my goodness it will move to 10600, but our excitement proved short sighted in fact, we realized that it is real trap.

Nifty Trading Strategy

If, you are holding any long then it is better to exit for time being, there is a high probability that Nifty will move lower today (9 Oct), if it does not than it is one more trap.

Bank Nifty Trading Strategy

Practically, Bank Nifty does not give us any entry chance, but anyways if you are holding long than better to exit, and look for short trade.

Don’t stay put in Nifty and Bank Nifty together.

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

Buy on Dips, Sell on Rallies

I know many readers, who understand the meaning of Buy on Dips, but they don’t know how exactly that means. Generally, any analyst after doing its research comes to a point where he/she had a view that broadly market is going to rise or going fall, based on that it gives a suggestion to their clients.

When we say Buy on Dips means, analyst has a Bullish View and stock has potential go much higher from current levels. In that case, whenever market falls or correct, that particular downfall should be utilized to accumulate the stock which were talked about. For example, Nifty is trading near 5800 levels and it has a fare chance to move higher in coming future, but there could be a chance that in nearest future Nifty may correct towards 5700-5600 levels. Now, in above scenario if you are not pure swing trader than you should utilize this correction to accumulate Nifty and Hold for higher levels to achieve. May be Nifty might test 6000+ levels again, in that case Buy on Dips gives you superior returns.

buy on dips, sell on rise by way2profits

 

When we say Sell on Rallies means, analyst has a Bearish View and stock has potential go lower from current levels. In that case, wherever market rises to some extent, that particular rise should be utilized to Sell or Book Profit in that Stock or Index. For example, Nifty is trading near 5800 levels and it has a fare chance to correct or witness downfall in coming future, but there could be a chance that in nearest future Nifty may move higher towards 5900-6000 levels and analyst believes that now there is limited upside and downside potential is higher. Now, in that case, trader can utilize any rise as a selling opportunity in Nifty and hold for the lower target

Above concept should be utilized with proper game plan, because if you don’t know where the turnaround point is, than there is a chance that you may go bust. So, it is always advisable that don’t hear and trust any media news, unless and until you closely follow them. Because, it is their duty to give you advice based on current market scenario and development, and which may be good for day, but once turnaround points come, they are not going to come again on News channel and going to give you advise that please exit from your position. So rely, only where you get consistent view, like we give at Way2Profits.

 

Nifty and Bank Nifty Technical Analysis for 01 Oct’13

Nifty as on 30 Sept’13– 5735.30 (-97.90)    Bank Nifty as on 30 Sept’13– 9617.80 (-281.95)

Nifty opened week on a negative note. Most of the day Nifty remained range bound, but gave away in last half an hour. Importantly, spread between Spot and futures prices of Nifty is higher, in isolation which is bullish indication for the market, but looking at price action this hypothesis may be overruled.

Nifty has a support near 5715, and in the last session it made a low 5715. According to us once, 5700 level is taken away it is confirmation that Nifty will test 5500 levels.

Bank Nifty continued its downward journey, on immediate front Bank Index has a support at 9400, once this support is taken away Bank Nifty will straight away head for 9000 levels.

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

Nifty & Bank Nifty Weekly Technical Outlook for 30 Sept, 2013

Nifty Daily Chart

Nifty Daily Chart

Bank Nifty Daily Chart

Bank Nifty Daily Chart

Month of Surprises and Shockers is about to over.

Nifty remained weak throughout August month, some relief came at the end of Month, so it was obvious market started expecting some retracement in month of Sept, but broadly, weak tone was already set in the minds of people, because we already saw 5118 levels. Nobody has predicted (yes, you can’t forecast here) that Nifty can even cross 6000++ levels, leave the idea of 6150, including us.  After giving sharp breakdown on 3rd Sept, Nifty again moved higher, first surprise; from the low 5318 Nifty climbed towards 5924, just in matter of five trading sessions move of 600+ second surprise; after staying range bound for five sessions giving upside breakout from falling trendline and making high of 6142.50, third surprise; immediately correcting the move, but staying absolutely flat on expiry day by moving in a range of 53 points, last fourth surprise. Does anyone here, who must have even thought of this spectacular rally and trading appropriately. We are sure there is none, but there is a race to conceal the deficiency. Fortunately, Way2Profits is not in such race. Now, let’s try to understand and prepare our self for coming month of October, and see whether we can catch the right move or not.

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