Latest Performance notes of www.niftypower.com

NiftyPower Performance - April 2013

NOTES:

After a bumpy start to the month of April, we pulled our Performance and now can boast of good returns of over 20% for the second straight month! What makes this performance special is that our Live Nifty Charts is giving a negative return this month. Live Nifty Charts is a mechanical system for Buying and Selling and is projected Free for all traders, on our sister website www.niftycharts.co.in. To beat a mechanical system in Performance is always special, as it shows how difficult the market has been. There has been wild moves on both sides, without a defined trend. To counter such moves, we reduced our number of calls after the first week, and focussed more on accuracy. The result is Satisfactory!

Nifty Options is the best performing package so far, with returns of over 36% for traders following our Risky traders strategy. It is also heartening to see Nifty Futures Positional clocking more than 16% gains this month. Positional package has traditionally been our best performing package, with very limited calls and very high accuracy. We will strive to continue this good performance in this package.

As for Nifty, after moving below 200 DMA, it has once again bounced back above it. Short term sentiment is UP at the moment, however, we have seen that these can change very quickly. Currently, we are looking at a trading range of 300 points for the next 1-2 weeks. The most likely range is between 5630 to 5990. Above 5990, we would be expecting a New High on the Nifty,a nd would trade accordingly. More Nifty Views will be shared through our Blog as and when new developments take place.

Happy Trading!
NiftyPower Team

Reply to an Email Query

Following is a query that we received on email recently, and we think for all followers of this site might benefit with the reply. Please go through the reply, and if you have any doubts, feel free to contact us.

Query 1: Subject: Wrong Buy-Sell signals of  your Nifty Live charts.. After giving a sell signal at around 1:00 pm. the market went reverse..

Query 2: Subject: Buy Sell signal delayed. The sell signal was given late by half an hour today. Instead of 12:30 it generated at aroung 1:00 p.m.

REPLY:

Hi,

Thanks for writing in. We will look into your observation of signals being produced late. Sometimes, the chart may appear delayed during fast movement of the market, as it gets refreshed every 1 minute, whereas the price may move much during that time. However, that delay should not be more than 1-2 minutes, and it should also not affect the trading, as the Buy/ Sell price confirmation on candle closing price, which is a 5 minute candle. However, if it is getting delayed more than that, then there might be a problem and we will rectify it.

Regarding your second observation of wrong buy/sell signals, we accept that this is a loss making month for the Live Nifty Charts, and same is depicted in our performance also. However, it is not fully unexpected, as this month is coming after 4 continuous months of bumper profits. We had expected the same and posted a message for the same in chatbox on April 10th.

Please note that the best way to follow this system is to take each trade following either the “Safe Trader” method or the “Risky Trader” method given in the FAQ section. Apart from this, we also try to share our insights from time to time in the chatbox. These Charts have been running for almost an year now. During the past year, if followed with discipline, these charts would have easily more than doubled the money of traders. You can go through the posts we made on theconsolidated performances in the following links:

Live Nifty Charts Performance 2012

Live Nifty Charts Performance 2013

Hence, we would recommend you to observe the system for sometime, and when you have enough faith, trade with utmost discipline on the signals. Only then will the Performance that we track, and your actual Bank Balance will match with each other.

Happy Trading!

5 April - Nifty View

On Thursday, Nifty opened Gap Down, and continued to slide to make a new short term low on daily charts. In the previous Nifty View, it was mentioned that Nifty may be in the process of making a Lower High. That view has been confirmed. In the process, the Stop and Reverse level of 5675, for aggressive longs taken on the breakout above 5720/5730 has been hit. Traders who took the short trade, should be in good profits now, and can start booking profits, and move their stoploss to around 5705 Nifty Spot level. Those who missed it, should now wait for the next trading opportunity. For the Bulls, there is positive divergence which is persisting in RSI on Nifty Daily charts. Apart from that, the line joining the Lows is offering some sort of support as of now, which can later turn into a bullish pattern. However, since the momentum is on the downside right now, it is better to wait for a confirmed signal from price, rather than taking a risk trade based on positive divergence alone.

The Nifty Option OI Charts are given below:   

In the Nifty Option charts, the Bears dominated the day today. They added a huge quantity of 56 lacs+ Open Interest in Nifty Call Options of 5600 to 5800. On the other hand, Bears covered a huge quantity of 30 lacs+ in Nifty Put Options of 5600 to 5800. Overall, though Nifty has fallen below 5600, and despite the huge covering at 5600 PE today, Open Interest at 5600 PE remains the highest among Nifty Put Options. In Nifty Call options, 5700 CE and above strikes have added nearly 70 lacs Open Interest. Overall, the Nifty option charts indicate a trading range between 5600 to 5700 on Nifty Spot. Since Nifty is below 5600 Spot, the coming days trading should resolve this anamoly.

For Friday, immediate resistance for Nifty Spot comes at 5590/5595 levels. Above this, the next big resistance area for Nifty Spot will come at 5625/5630 levels. Only on a close above 5630 now, can the Bulls hope for some kind of a pause from the Bear onslaught. On the downside, support for Nifty Spot comes at 5565/5570 and 5550 levels. Below this, next major support for Nifty Spot comes 100+ points down around 5430, with minor support around 5520/5525 level.

5 Apr - Nifty Spot resistance at 5595-5625-5650-5700. Support at 5570-5550-5520-5435 - www.niftypower.com

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P.S.:
You can see Live Nifty Charts with Buy Sell Signals during market hours Free on our website www.niftycharts.co.in

Also, Read our Daily  Nifty Analysis published on our Blog www.nifty-power.blogspot.in and have an Edge in you trading

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