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Nifty Weekly Technical Outlook for 08th June’15

Success is a journey, not a destination.  The doing is often more important than the outcome. – Arthur Ashe.

In the beginning of this month markets gave an indication of northward moves, but the hope of recovery lasted only for a day, and on Tuesday when RBI announced 25 basis point Repo rate cut, market gave up all the gains, and to some extent monsoon forecast which release just after the rate cut added further fuel in selling pressure. Nonetheless, I was expecting positive move, and my anticipation went wrong, however I was very well aware that I am taking a contra bet, as most of the factors were not in favor of bulls, but I prefer to take my stand. In the coming week some Global tensions will decide our forte, which is out of our control, in that scenario let’s see what technical charts are suggesting us and how we should position ourselves, against the odds.

nifty outlook for coming week way2profit

Nifty Daily Chart

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Nifty and Bank Nifty Technical Analysis for 17 Sept’13

Nifty as on 16 Sept’13– 5840.55 (-10.05)    Bank Nifty as on 16 Sept’13– 10368.40 (+187.95)

Somehow, Nifty managed to open Gap Up in last session, but could not sustain higher for more time. Last week’s High of 5932 was taken away, but finally Nifty closed at 5840, much below the level.

Bank Nifty also tried to move higher towards 10500+ levels, but it also failed and add on to that CNX IT Index gave away.

Nifty Trading Strategy

To us Nifty and CNX Nifty is looking weaker, but we are little skeptical about Bank Nifty, we cant overrule some further upside in Bank Nifty, although there will be a tough fight, but generally Bank Nifty always gives unexpected. Nifty on holding below 5870 can test 5700 levels.

Keep visiting Way2Profits, for unbiased view on the market.

Weekly Technical View for 26 Aug onwards – Harish Thakkar

Technical Views from our Guest Author Mr. Harish Thakkar

Nifty Daily Chart

Nifty Daily Chart

Weekly Price & Time correction of RSI oversold @25.21 starts to correct after 5 consecutive lower high, lower low. Normal bounce in Uptrend is usually 600 to 700 points. We are in Down trend and as such at least 400 to 500 points bounce can be expected. Previously EOW 17th May 2013 in Uptrend low was 5477 with RSI 30.48 made 5 week HH & HL formation made high of 6199 = 722 points.
Weekly bullish hammer close will show its power to cross 5505 which is High of previous swing 5477 low breaking bar’s failure attempt to win over. Target will be 5660.If we see 5755 the down trend ” V ” shape bottom will show its power to hold. But as Monthly swing break confirmed by closed in breakout area, this daily & weekly 1 or 2 week higher close rally will surrender to Monthly swing down.
Bank Nifty is still looks struggling to hold the bottom. Trade only on 3 day swing high is safe.3 Day swing high is 9766
As per my opinion Monday, Nifty & Bank Nifty must cross over at least hourly macd ” O ” to add strength.

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Nifty Weekly Technical Outlook for 12th Aug, 2013

Nifty Daily Chart

Nifty Daily Chart
Bank Nifty Daily Chart

Bank Nifty Daily Chart

Dark Clouds are gone past or still turbulent times are ahead…

Last week we saw some razor sharp fall in the market, hopes of bulls were smashed and bears must be rejoicing, but party ended quickly.  Fall of last Tuesday was surprise package, and it damaged much. By the end of day, market action has raised question in our Analyst mind, and we could not see any clear clouds, because intensity of fall was sufficient to put us in dismay. Damage continued even next day, but on Thursday again market witnessed recovery, and week is over. Even, in coming week market will work only for four trading sessions. And we believe it will be more challenging week we have to face.

Let’s take technical snap shot of Nifty.

  • One more week, where Nifty lost around 112 points, with weekly range of 234 points. From last three weeks Nifty is falling sharply and totally lost 463.3 points on closing basis. On the weekly chart, few important trend lines are already broken and few are still yet to penetrate.

To read further Download

Nifty Weekly Technical Outlook for 05th Aug, 2013

Nifty Weekly Chart

Nifty Weekly Chart

Nifty Daily Chart

Nifty Daily Chart

Week of Pessimism and Hope…

When party at war throws open challenge and other party got defeated in fight, it will be a double victory for the winner. Last week, Bears were clear dominant player in the market, and they throw open challenge to Bulls and finally they defeated also.

Let’s take technical snap shot of Nifty.

In last two weeks Nifty lost almost 350 point, where last week has contributed 208 points in this fall.  On weekly basis Nifty broke the support of its important 40 week moving average, and as depicted in attached chart, it also broke the trendline support which was projected from July’12. Although on optimistic note, even in last July’13 when prices touched this trendline, initially it gave a false breakdown and resumed higher again. So even this time it is just one candle which is marginally below this trendline, so, we have some scope to debate on this.

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Bank Nifty & Nifty Trading Strategy for 02 July’13

Nifty as on 01 July’13– 5898.85 (+56.65)    Bank Nifty as on 01 July’13– 11714.90 (+97.65)

Nifty Bulls were cheering up.

Yes, Nifty again made some sharp move in the last session. For some, Nifty again moved above its 200 day average, for some Nifty gave higher close above 5863 (previous minor swing high), and for some momentum is in swing. Now, for us also Nifty has increased our confidence, but if we take view in the isolation. I am little skeptical only because CNX IT gave weaker close today, and Nifty driver Bank Nifty is not in the same mood as Nifty. Traders who are active in the market will understand what we are talking about.

Nifty Trading Strategy

Ideally, Nifty should not move below 5860, (for intraday players) for end of day traders, it should not give close below 5815. Yes, we know it is broad range, but that is the practical way to look. If Nifty sustains above 5905 then, it has upside target of 5975.

Bank Nifty Trading Strategy

As we mentioned above Bank Nifty is not in its best, but still positive. On the upside Bank Nifty will face resistance near 11950.  We would prefer to excuse Bank Nifty for time being.

Visit, Way2Profits for unbiased view.

Nifty Weekly Technical Outlook for 01st July, 2013

Surprising- Gap Up, just after expiry.

Nifty Weekly Chart as on 28 June, 2013

Nifty Weekly Chart as on 28 June, 2013

Nifty Daily Chart as on 28 June, 2013

Nifty Daily Chart as on 28 June, 2013

Week ends and we start evaluating ourselves, whether we went right or wrong. It is time to rectify and learn from the mistakes. We never expect to go right every time with every trade, but even if we succeed by more than 70%, then we believe we are on a right track. Now, it is up to our readers and decides whether we went right or wrong, during last week. Feel free to write your comments.

For us trading in the markets are like playing some adventurous games, where we have to undergo many emotional factors, of fear, greed, anxiety, and what no, and finally our bank accounts shows whether we are able to succeed or still we have to do bit more.

Generally week of expiry is always bundled with full of drama and unexpected moves. To us Fridays move was unexpected. If you are a market savvy then you must agree with us that, next day after expiry is very dull kind of session, like market is on holiday mood; but, it worked otherwise.

To read further Download

Weekly Technical View for 01 July onwards – Harish Thakkar

Technical Views from our Guest Author Mr. Harish Thakkar

nifty weekly technical view - by harish thakkar

Market made weekly Bar Reversal with gap up above previous day high, holding the gap with almost all gains. Market sets trending up move with buy on dips up to 5715 for targets of 5913 and 5990.

To trade is step by step process, once Nifty sustains above 50 DEMA- 5847 will add strength. And previous swing high of 5863 will be immediate resistance and 5870-5900 is cluster of resistance. Nifty has to give litmus test near weekly swing high of 5931, which will validate the strength of the market.

Use 5DEMA or 34 HSMA for trailing Stop Loss and 3 Hourly swing low for Intraday fresh positions.

Markets are in overbought condition on hourly time frame, so it is better to wait to cool down for fresh positions.

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Bank Nifty & Nifty Trading Strategy for 28 June’13

Nifty as on 27 June’13– 5682.35 (+93.65)    Bank Nifty as on 27 June’13– 11235.75 (+169.20)

Finally expiry is over, and Bulls will be happy, that finally we made it.

Nifty Trading Strategy

Nifty closed at 5680, it seems that follow through buying can happen today, but be strict with trade, keep stop loss of 5630 and go long in Nifty, if everything goes right then Nifty has potential go up to 5815.

Bank Nifty Trading Strategy

Bank Nifty, price action is not clear, and don’t see any clear trade opportunity, it is better to wait for right signal.

Nifty and Bank Nifty both are not in sync, which also means that still market is moving under indecision, so stay alert and cautious.

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Bank Nifty & Nifty Trading Strategy for 27 June’13

Nifty as on 26 June’13– 5588.70 (-20.40)    Bank Nifty as on 26 June’13– 11066.55 (-114.50)

Sometimes it is real difficult to earn out of the market, and if trader is smart enough to understand this thing, then he can make profits by two ways, one by not losing and second by trading the market when it is in trading mode.

Nifty Trading Strategy

In the last session Nifty stayed below 5680 and does not cross below 5570 level, remain range bound. According to our analysis there was no sure shot call on the market, and that is the reason we stayed out of the market. Now, today you have expiry day, and USD/INR has already shaken the markets, so it is better trade only the breakouts and that to with tight stop losses. Keep watch 5680 on higher side and 5570 on the downside.

Bank Nifty Trading Strategy

We were expecting some weakness in Bank Nifty from last Friday onwards, and finally Bank Nifty made a low of 11033.75 and our level was 10975. We believe Bank Nifty has further potential to move lower, but betting on that is little risky. Technical pullback is also due on the cards but for that traders has to wait for one more day, let expiry get over.

We want to tell our readers of Way2Profits, that we are not in the business to catch each and every move of the market. We believe it is impossible, or you can say we are capable of doing it so. At Way2Profits, we only try to catch best possible trading opportunity. We hope some of you must have already realized the fact, so don’t expect to receive continuous advice on the market. But keep reading for best possible opportunities.