Nifty Views for Aug 14, 2009

Nifty is expected to open flat to positive in the morning and then correct/ consolidate for the first 1-2 hours. In the second half, it may pick up momentum again and end the day in green.

Day trader may sell Nifty if spot goes below 4600 for a target of 4570-4540. On the other hand, if Nifty manages to hold above 4605 spot, it may test 4650-4680 today.

Nifty Resistance at 4630-4680-4700-4755.
Nifty Support at 4600-4570-4530-4490

Visit here for Free nifty tips.

Nifty Views for 2 July, 2009

There is continued weakness in the market and this is shown on a daily basis as Nifty gets fierce resistance at important levels. Yesterday, it was 4270. For today, it is 4400-4430.

We are moving up and down in a narrow range of 150-200 points for now. this may be the preparatory move before the budget. Positional traders are advised to refrain from taking any unhedged positions before the announcement of the budget. As already stated, a Straddle might be the best opportunity for profits before Monday's announcement. Until and unless we close above 4430 with volumes, this market is a sell on rallies at important resistances.

On Thursday, Nifty is expected to open on a flat to positive note in line with positive global cues. Intraday traders may short if the level of 4335 spot is broken intraday for a target of 4305-4290. Above 4335, Nifty may test 4390-4400 today. Very risky traders can short near 4400 with stoploss at 4430 closing basis. If we close above 4430 today, get out of all shorts until Budget day.

Nifty resistance at 4380-4400-4430-4450. Support at 4335-4285-4250-4225

Nifty Futures tips

A Healthy Correction... OR More???

The correction that we are witnessing is infact very healthy for the markets. It shows that people have certain expectations from the budget and they are booking profits to reduce their positions before the big event. Chances of a disappointment is low if we correct before budget than afterwards.

The Government surely won`t be able to to deliver on all the expectations. Also, they will not fail on all the expectations. It just remains to be seen that which sectors receive the most and which receive less. For example, expect more money in the pockets of the common man which can lift sectors like consumer goods, automobiles etc.

Given that we do not have a pre budget rally and stay below 4450 on budget day, we can really make a dash upwards if there are positive surprises. If there are not, well, don`t expect lower circuits anyways.

Hence, a healthy correction

Nifty Views for June 29 - July 3, 2009

Just one week to go before the budget is announced. Expect extreme movements on Nifty. This is not going to be an easy week for Day Traders.

The expectations now before the budget are exactly opposite to what they were before the elections. That time it was pessimism where everyone was expecting a hung parliament. Markets were positively surprised and we all know what happened thereafter. The worrying factor this time round is the optimism.

It would be good for the markets if they in the 4200-4500 area this week. That ways, at least the downside will be limited if there is disappointed from the budget. However, if we are going to rally higher this week, the fall would also be severe on disappointment from the budget.

Options will obviously command a higher premium this week. One can look to buy a Straddle on Thursday or Friday. There can be good gains to make just as there were just below the elections.

4450-4500 may give resistance to the rally initially and 4300-4220 will provide the support area.

Weekly resistance for Nifty will come at 4460 and 4540. Weekly supports are 4300-4220-4050.

Nifty Views for 25 June, 2009

Nifty Views for 25 June, 2009

Had Posted this on some other site (MMB)

"Date :23rd Jun, 2009 - 21:13
Technically Nifty has shown positive divergence today indicating a target of 4350-4400. Downside now only below 4180. Shorting advised only below 4140 ..."

Nifty gave ample opportunity to enter yesterday and closed just below the 4300 mark. Asian cues are positive and Nifty today is expected to also open on a positive note.

For day traders, watchout the levels of 4275 and 4260. As long as we stay above 4275, we can safely assume that this recovery will continue. Below 4260, we may see a retest of 4200 and then 4160.

By the way, I prefer to stay away and not draw any conclusions on expiry day...

Nifty resistance at 4335-4360-4375-4400. Support at 4290-4270-4240-4200

Nifty Options tips

Nifty Views for 22 June, 2009

After having a good consolidation/ correction last week, Nifty is expected to start this week on a positive note. However, I still feel we are in a corrective phase and we should test 4100-4120 again before moving up. Hence no long positions advised as of now.

For Monday, above 4360-4370, Nifty may try to touch 4420-4450. Positional traders may go short at this level . Unless we consistently close and stay above 4400, we should head lower.

On the downside, Nifty has support at 4310-4315. Day traders can also go short if this level breaks.

Expect a volatile and rangebound session. Sell on rallies is the theme until we continuously close above 4400

Nifty resistance for today are: 4370-4405-4430-4450. Supprts are 4310-4280-4250-4190-4160

Free Nifty tips

Nifty Views for June 18, 2009

Our markets have a strange way of doing everything in excesses. It tries to do what it has to do in a single day.

We are in a corrective phase and will remain in a corrective/ consolidating phase at least for the time being. A 10-15% downside is expected in any correction. There is no reasons to believe that the uptrend is not intact. However, going long at this stage will not be advisable. It is better to catch the momentum a little late than try to catch a falling knife/ finding a bottom for the markets.

After yesterday's drubbing, expect 1-2 days of small bounces/ consolidation. We may have a choppy session hitting both side stoplosses. Daytraders should just try to play the range of 4320-4420. Positional traders, if not already entered, wait for better opportunities to go short.

Nifty resistance for today: 4355-4385-4410-4445. Supports are: 4310-4260-4200-4170

Free nifty tips

Nifty Views for 15 June, 2009

Friday's sharp U turn after touching 4690-4700 levels must have caused some concern among the bulls. Also, the fact that Nifty finally gave up 4600 means that Bears will have an upper hand at least in the morning trades.

4550-4520-4485 are the levels to watch on Monday. Nifty needs to close above the lower support to end the correction and continue its upward journey. Below that, we may not only see profit booking but fresh shorts which can take the index back to test 4400-4360 kind of levels. Above 4620-4650, bulls will back with force.

Nifty resistance for today are: 4580-4620-4645-4705. Supports are: 4550-4520-4490-4455

Nifty options tips

Nifty Views for June 11, 2009

As given in weekly views, "we may have some profit booking coming up if Nifty does not cross and close above 4640-4650...............................Given the momentum that we are in, a close below 4360 seems unlikely as of now and going long on dips is the only logical thing to do as the market can stage a quick turnaround".

Nifty stages a quick turnaround from 4370-4380 area after seeing profit booking on Monday. We are in a strong momentum market and going against the tide can be very costly. One should refrain from carrying over any short positions for now.

On Thursday, Nifty is expected to open on a flat to negative note. Watchout for 4605-4610 levels intraday. One can go long on dips with stops around this area for a target of 4715-4750. Below 4610, one can go short INTRADAY for quick gains.

Nifty resistance at 4670-4720-4770. Supports at 4615-4585-4515

Free nifty tips

Nifty Views for week June 8-12, 2009

We had a week of consolidation last week with Nifty ending in green for the week. However, towards the end of the week, some tremors of a correction could be felt and Nifty was unable to hold on to its gains at higher levels facing resistance in the 4630-4640 area.

Going forward next week, we may have some profit booking coming up if Nifty does not cross and close above 4640-4650. If it does on the first two days, one may go long with targets of 4720-4770-4810.

The downside seems to be limited and the bulls will fight fiercely to hold levels of 4490-4430-4360. Given the momentum that we are in, a close below 4360 seems unlikely as of now and going long on dips is the only logical thing to do as the market can stage a quick turnaround. In the unlikely even of closing below 4360, we will be headed towards 4200.

We made a low of 4090 in the last phase of correction/ consolidation and that level should hold for this uptrend to continue.

Trade According to Plan

In my career in the stock markets, I made a lot of mistakes early on and kept learning along the way. I put all my learnings into developing my trading system and trading methodologies. Whenever I see new entrants making the same mistakes, I feel like going to them and say "Look Boss! Don't get emotional!"

I produce here some simple, but very very important methods to go about a trade., I have been following this for over 6 years now and this has not failed me.

1) Have a Plan: The plan can be anything. If you are bullish, the plan can be I'll buy near supports or when markets breakout above a resistance. But always have a plan. Without a plan, you will virtually be buying and selling every minute!

2) Identify the trend: I always watch the market for the first half an hour to gauge the mood. Once an Intraday trend is clear, i make up my mind to either go long at supports or short at resistance.

3) Always Use a stoploss: Stoplosses are something which have to be fed into the computer before you actually enter the buy price.

If you're looking for Nifty intraday trading tips, visit Nifty Power.

Nifty Views for 28 May, 2009

Today is expiry day and expiries are always the most difficult to predict and trade. Trade only if you have to otherwise stay on the sidelines and watch the show.

One may buy Nifty if it moves in the green today, above 4280. Nifty will face some resistance at 4320-4325 area, above which it will test 4360.

Nifty resistance at 4275-4325-4360-4440. Support at 4215-4190-4160-4105

Free nifty tips

Nifty Views for 27 May, 2009

Global cues are positive and Nifty is expected to close in the green today. Expect some short covering also to take the markets higher.

After the huge event of elections last Monday, Nifty has been consolidating and slowly drifting down. A range for Nifty for the time being has to be set now, before any major move. The most probable range can be 4050-4500. The lower end of this range probably got tested yesterday. Now, with a reason to move up, I think we will first go to test 4280-4360-4400 before any major correction. However, F&O expiry can be volatile times, so one has to be careful.

Today, buy Nifty on dips as long as we stay above 4115 on Nifty spot.

Nifty resistance at 4195-4230-4275. Support at 4115-4070-4030-3950

Free nifty tips

Markets Create History!!!!!

The election euphoria did play out and how? It was a historic day in the Indian Stock Market where both Sensex and Nifty hit two upper circuits and trade had to be halted for the day. There was hardly a minutes trading possible and very low volumes. But there were no sellers in the market. Buy orders flushed in and the markets hit upper circuit.

As written earlier also, this euphoria will last for some time, at least 3-4 days and then it will be over again to the newsflow and global markets. Can Nifty do it again on Tuesday? Well, it's anybody's guess. We will have a positive opening but where we go from there, none can tell. Expect volatile movements intraday. One can ride the wave via the options route. Intraday players do remember that stoplosses may not work in environment. Hence trade in very very small volumes with broad stoplosses. Trade only if you have to.

Elections Over, Now what??

We have had a great pre election rally of about 50% on Nifty. Now, after the elections result has surprised everyone on the positive side, what is in store next? We are not going down fast, that’s for sure. But are we going to go up? Let’s analyze the situation given the liquidity situation.

First, the FII’s, DII’s and the HNI’s. A lot of funds got deployed in the April and May series. However, given the uncertainty that was there in this election, some of the funds must be on the sidelines waiting for a positive result. Now these entire funds will get deployed in a hurry. This will ensure that we have an immediate rally on our hands. Some of the funds would still prefer to wait and let the new Government make some announcements regarding reforms etc. This tells us that this rally will sustain for some time/ consolidate at least in the near term.

Also, do remember that speculative shorters will also be covering in panic on Monday/ Tuesday and there will not be people who will think about shorting this market now, at least for next 10-15% of uprise. Hence a quick rally is on the cards.

Having said that, we all have to remember that the situation economic wise has not changed with this event. If at all there was a uncertainty regarding this election, that did not show up in the form a correction that should have happened. This tells us that the market has been moving more in line with the global markets than on local cues. Hence, once the euphoria dies down after 3-4 days, global markets will have to support our markets if this rally is to continue.

Nifty Views for May 13, 2009

On Tuesday, Nifty opened on a flat note as expected. IIP numbers were bad and Nifty, defying all logic and expectations, rallied sharply in the second half to close near 3680 levels.

Logic says that people should prefer to stay light before the elections results come out. But this market is defying all logic, hence one can't be sure. Another line of thinking is that after having closed 6-7 times in the range of 3600-3700, probably this is where we will stay until the election results come out. From this range, market can easily rally or fall 300-400 points depending about the election result.

On Wednesday, nifty is again expected to open on a flattish note. Intraday players can go long if it opens and sustains above 3700. If we open below 3680, one can go long when we break above 3680-3685 intraday. Fall below 3640 may lead to 3600 levels.

Nifty resistance at 3680-3720-3760. Suport at 3640-3600-3585-3560

Nifty Futures tips

Nifty Views for May, 12, 2009

Finally, some correction happend in our markets. Now will this correction continue, is the big question.

The way we saw profit booking happening yesterday, there was not much buying seen at lower levels. This suggested that this correction might continue for some more time to come. It is extremely important to trade only on intraday basis in this scenario as Nifty can swing anyway due to heavy newsflow that is going to come in.

On Tuesday, May 12, 2009, Nifty is expected to open flat. IIP data is going to be released today and that will drive the markets. Since this markets is looking for a reason to correct, that might just trigger the correction. If its good, it might not have a very positive effect on the market, but if it is bad, it might just trigger a sell off in the markets. Hence, it will be better for traders to stay light before the news come out.

Intraday traders may short Nifty below 3545 keeping a stoploss of 3560.

Nifty resistance at 3585-3615-3675. Support at 3550-3520-3490-3430

Nifty Views for 11 May, 2009

This market is crying for correction now. All logic tell me that people would want to take home some profit before the election results. But somehow, the market has a way of itself. It would do exactly as you thought, but not "when" you thought.

Positional traders should avoid the market this week due to election results. etc. Those who are long may book profit or keep trailing stoploss of 3575 on closing basis. Intraday players, try to play on supports and resistances. Markets are going to be volatile this week, hence trade light.

Nifty expected to open positive. Sell only if it breaks 3615 intraday with a stoploss of 3630. Intraday traders above 3630 with a stoploss of 3615 for a target of 3660-3680.

Nifty resistance at 3642-3680-3740. Support at 3615-3585-3550-3490

Nifty options tips

Nifty Views for 7 May, 2009

On Wednesday, Nifty faced stiff resistance at our resistance level of 3720 and corrected more than 100 points from there intraday to close near 3640 levels.

The movement Today and Tomorrow will be crucial for Nifty as it will decide whether we are going to make new highs above 3800-3850 or there is going to be a deeper correction of 10-15%. Trade with strict stoplosses on both the days and dont carry home any positions.

Thursday Nifty is expected to open in the green. Intraday players try to go long near 3625-3605 if they get an opportunity. Aggressive traders can short Nifty at higher levels near 3700 levels for quick gains. However, be quick to book profits in any short positions. Dont remain short above 3700. If Nifty is able to sustain 3720 today, we will see 3750 today itself. Below 3600, we will see 3560.

Nifty resistance at 3675-3725-3760. Support at 3625-3605-3570

Nifty Views for May 6, 2009

Nifty continues to move up with forming a higher and higher base. The bulls earlier fought it out for 3300, then 3450 and now 3600. Once an important level is crossed, the support for Nifty keeps moving higher with only intraday corrections, if any. This has become an easy market to play if you are on the side of bulls. How long it will remain like that is anybody's guess.

On Wednesday, expect a flat to negative opening on negative global cues. The stoploss for all shorts should be placed at 3660. Above 3685-3690, Nifty can fire upto 3720-3750. It struggled at 3685-3690 yesterday and it will be interesting to see if it breaks as some indicators have started giving bearish signals now. On the downside, support lies at 3625-3590. Break of this range can see Nifty fall upto 3560.

Nifty resistance at 3660-3690-3720. Support at 3625-3595-3560.

Nifty tips

Nifty Views for April 27, 2009

Nifty is expected to open down in line with global cues. Intraday traders should look to go long only above previous day's high or above 3500. Those still holding long positions may take an aggresive stoploss of 3440. Shorting above 3400 can be highly risky.

Nifty resistance at 3496-3520-3560. Support at 3475-3440-3390.

Nifty Views for 24 April, 2009

After an initial correction, Nifty surged in the late hours above 3360 on Thursday to close above 200 DMA near 3430.

Now on Friday, Nifty is expected to open flat following global cues. Positional traders who took longs above 3360 should now trail with a stoploss of 3370 closing. For less adventurous, stoploss for longs should be placed at 3396. Shorting this market is not advised at this stage. One should initiate positional shorts only if we close below 3290 on any day. Intraday traders should initiate shorts only below 3360. Otherwise look for buying opportunities on any dips or whenever Nifty crosses a resistance point.

Nifty Resistance at 3485-3520-3550. Support at 3420-3365-3290

Nifty Vies for April 23, 2009

Nifty has been making a series of lower lows and lower highs this week. After closing below 3370 yesterday, the trend has also turned bearish until we close above 3370. However, positional shorts are not advised at this stage as the bounce back can happen anytime now.

On Thursday, April 23, Nifty is likely to open flat. It will face immediate resistance near 3355-3360 area where one can go short with a stoploss above 3365. If sustains above 3360, Nify might try to test 3380-3420. Intraday traders may go long only above 3365 with stoploss at 3355.

Nifty resistance at 3360-3380-3430. Support at 3325-3290-3260-3225

When the last bear turns a Bull - Sell!!

When the last bear turns a Bull - Sell!!!

Just a few days back, all experts on TV channels and financial websites were screaming that this rally does not have the steam to go on and on like this. Today, its a different story. Now, after breaching the 200 DMA, everyone feels that this rally may continue till 4000-4300 on Nifty!!

Reminds me of the time when Nifty was hovering around 2600 levels. I was watching the TV channels even then and the Experts were talking of 2200-1800 on Nifty. I put a message on moneycontrol at that time that this looks fishy and went long near 2600 to be highly rewarded. Now, the exact opposite is happening.

So what to o now? Nothing. Technicals have not been working in this market. Did they work when Nifty rallied till 3500 without any meaningful correction. Did they work when Dow closed below 7500 and still recovered and breached that level. Most of the technicals tell you what happened in the markets. The predictive technicals tells you what is going to happen based on statistics and history. They work most of the time because there are so many people following it. But this time it is different.

This market can be traded more with common sense than with technicals. They say the markets lead the economy by six months. That implies that all the world's problems are going to end by this October. Do your calculations. For e.g., unemployement rate in US is still on the rise. Companies are cutting jobs to stay profitable in India. If people dont have jobs with regualr incomes, how do you expect to build the demand that will drive growth and get us out of the woods.

To cut the story short, the breaching of 200 DMA does not hold much significance in such a scenario. We may have seen the worst of this recession, but we are still far away from a Bull Market.

Long term investors should stay away from this market till the picture becomes more clear. Short term traders on the long side - ride your luck but get out the first day Nifty closes in red as you do not know how far it can go.

For Shorters - Well, Wait for the Last Bear to Turn Bull :-)

www.niftypower.webs.com

Nifty Views for April 13, 2009

Nifty is expected to open in the positive in line with global markets. It will again face resistance near levels of 3390-3410 and some profit booking can be seen at these levels due to lots of newsflow and results in the coming week. Traders are advised not to take any long positions ahead of the results. A close above 3400 will be highly bullish for Nifty, however, it is better to avoid any long positions as Tuesday is a holiday. Aggressive traders may sell below 3340 Nifty future. Safe traders may wait for Nifty future to break 3300 for a target of 3250.

Nifty Resistance at 3340-3385-3410-3430. Support at 3320-3295-3245

Why this is still not a Bull Market

This rally cannot be termed as the start of a bull market. In my interactions with fund managers and people of repute in the financial world, people were just waiting to see when the Nifty stops falling to get into the market with the huge cash they were sitting on. Nobody likes to catch a falling knife (on the upside OR the downside). 2500 held out on a lot of occasions and may have given a lot of people some hope.

Next, people are now waiting to decide on a range on Nifty. This range has to be determined as an elongated period of consolidation has to happen in the markets. At top of the range, you will find the buyer volumes decreasing and then only there will be some correction to lower levels. The levels that we hold on to on the lower side (after testing 3-4 times) should confirm the medium term bottom where again you will see buyer volumes increasing. One can safely expect this range to hold for 2009 at least.

The only thing that is being confirmed right now is that we have now stopped falling. Next step is to confirm the range before the next bull run starts. They stay bottoms in the markets are made in Panic. I think that panic has already been created in October and from now on, we will only have higher bottoms and higher tops.

Nifty Views for April 8, 2009

Nifty is expected to open in the negative in line with global cues. Intraday players will not get the opportunity to sell because of gap up opening. Stop Loss for any short position should be 3255 today. Good support for Nifty exists at 3150-3165 range. Below 3150, nifty may try to fill the gap it left behind between 3060 to 3155. Positional traders should exit their longs if Nifty gives a close below 3160 today.

Nifty Resistance at 3255-3275-3305-3345. Support at 3205-3185-3165-3125

www.niftypower.webs.com

Nifty is expected to open positive again on strong global cues. However, longs have to be cautious as there can be some amount of profit booking due to holidays in the coming week. Intraday players can buy above 3270 for a target of 3298-3335. Below 3265, next support exist at 3240-3210-3190-3165.

Nifty resistance at 3265-3298-3335-3350. Support at 3240-3210-3190-3165

Time to build fresh Shorts??

Bears have literally been slaughtered in this rally by the Bulls. Once we opened gap up above 2860, there has been no looking back and any correction worth mentioning has been intraday only after a gap up opening. Now after taking out 3050 - a stoploss for many a seasoned Bear, next levels to watchout will be 3150-3180-3250 and 3295. It will be interesting when the Bulls finally decide to take some profit home. The best place to open short positions as of now look to be in the range of 3200-3250. The best place to go long will be near 2860 levels - however, it doesn't seem likely that we are going there in a hurry

Nifty Views for 26 march, 2009

Nifty had an extremely volatile session within the range of 2920 and 2995. Finally it managed to close at the upper end od the range on Wednesday.

Now on Thursday, Nifty is expected to have a flat opening and it should try to test the resistance of 3020-3025 for the third time. Intraday traders can look to short as near to this level as poosible with stoploss above 3025. On the downside, Nifty has support at 2945 and 2915. One can also buy within this range if there is any kind of sell off in Nifty intraday.

Nifty Resistance at 3020-3055-3095. Support at 2980-2945-2910.

www.niftypower.webs.com

Nifty Views for 24 March, 2009

Nifty Opened Gap Up on strong news flow from the US and continued its upward journey throughout the day braking all resistances with ease.

Now on Tuesday Nifty is expected to again open on a positive note. It faces immediate resistance at 2960 and then 2992 which is a very strong resistance. If Nifty future is able to close above 2992, it will be a highly bullish signal for at least the immediate short term.

On the downside, the strong support for Nifty is at 2832. Till the time Nifty stays above this level, this market is a buy on dips.

Intraday traders should try and go short in Nifty Futures as close to 2992 as possible with strict stop loss above 2992 on closing basis. On the downside, one should look to go long near the support levels of 2945 and book profits near 2992.

Nifty Resistance at 2975-2995-3045. Support at 2940-2910-2880.

www.niftypower.webs.com

Nifty Views for 19 March, 2009

On Wednesday, Nifty opened gap up as expected beofre some profit booking and negative European markets dragged it down to close near 2794. Nifty Futures discount also widened indicating some fresh shorts build up.

On Thursday, Nifty is expected to open flat to positive following global cues. 2795-2800 is the level to watch out for. If Nifty is able to sustain above this level, it will try to test 2820-2835-2860. Below 2790 it may fall towards 2750.

Traders should watch the first half hour to see if Nifty is able to sustain above 2800. If it does one can go long with a stop loss below 2800. On the short side, one should look to short near resistance level of 2835 and 2860. A close below 2800 today will be bearish for Nifty.

Nifty resistance at 2795-2820-2835-2860. Support at 2755-2730-2705.

www.niftyupower.webs.com

Nifty Views for Wednesday, 18 March, 2009

Nifty opened flat on Monday and tried to cover its resistance zone of 2805 before profit booking finally took it down. A negative opening of Europe dragged it down further. However, late short covering/buying propelled it further above to close above its resistance zone of 2755.

Now on Wednesday, Nifty is again expected to open slightly in the positive following good global cues. It will again try to take out 2800 and traders may be wary of booking profits this time.

Safe traders should look for going long near 2755-2760 levels with stop loss at 2729. Adventurous traders may short near 2800-2805 levels with stops at 2830 fro quick 20 points gain. However, going short can be risky in this market condition and it will be better to wait for a buying opportunity. Till the level of 2700 is not breached on the nifty, this market is a buy on dips.

Nifty resistance at 2795-2820-2835. Support at 2755-2730-2705-2680

www.niftypower.webs.com

Nifty Views for Monday, 16 March, 2009

On Friday, Nifty openend higher and moved in a very narrow range of 10 points before moving higher and closing at day high above 2720.

Now on Monday, Nifty is expected to open flat and again trade range bound for most part of the day. 2750-2760 is the immediate resistance that it faces and 2700-27-10 is the immediate support. Some action can be expected in the later half.

Nifty resistance at 2750-2780-2805. Support at 2710-2685-2660.

www.niftypower.webs.com

Nifty View for 12 March, 2009

HAPPY HOLI TO ALL!!!

Nifty was closed on 10 and 11 on account of Holi. In this time, global markets have made a smart rally and we have some catching up to do.

On Thursday, 12 March, 2009, nifty is expected to open up. IIP numbers are due to come out today. If the IIP figures come anywhere near street expectations, the rally will be accelerated further after the news.

The levels to watch out on Thursday are 2570 and 2625. Depending upon where we open, traders should look to buy above these levels. Getting Nifty near 2570 seems unlikely today. Buy on dips should be the mantra today.

Nifty resistance at 2590-2610-2625-2645-2670-2695. Support at 2585-2570-2545-2530-2510.

www.niftypower.webs.com

Nifty View for 9 March, 2009

Nifty opened in the negative on Thursday and immediately found support near 2550 levels, not breaking it for the entire day. Nifty closed the day at an important level of 2620 which was also a resistance level.

Now on Monday, nifty is expected to trade with low volumes due to holidays in the Indian markets. It faces immediate resistance at 2650-2660 levels. One can go short near these levels keeping a stop loss of 2680. On the downside, support exists at 2560-2570 levels and one can go long near these levels. This should be the maximum range for the day and any breakout/ breakdown from these levels cannot be decisive, hence no positional trades should be taken. Any upmove can now only be seen if Nifty closes above 2700. On the downside, below 2600, next support exists at 2550 and then 2500.

Nifty resistance at 2645-2660-2700. Support at 2615-2600-2575-2535

Nifty View for March 6, 2009

Nifty has entered into a sustained downtrend after closing below 2700 and there is no relief rally/ short covering even when Nifty is in highly oversold oversold zone. At the most it bounces 10-20 points from the support levels and then the downtrend continues again.

Now for Friday, Mar 6, Nifty is expected to again open in negative on bad global cues. now the next important support for Nifty is 2500 spot only. It is better to wait and go long as near to this level as possible. Expect a freefall below 2500 on Nifty.

Intraday traders should wait and watch today and try to buy as close to 2500 as possible. Buying will be a risky trade, however, if one gets an opportunity to short near 2580-2600 levels, one should definitely short near those levels with a stop loss at 2610. Between these levels, there will only be volatility. Just wait and watch.

Nifty resistance at 2570-2595-2610-2630. Support at 2525-2495-2470

Nifty Views for 4 March, 2009

Nifty has now decisively closed below 2700 and has next major support at 2500 on a closing basis. After moving in a tight range for the entire month of February, Nifty has finally given a breakdown and now Sell on Each Rise should be the mantra for intraday traders, till we close above 2700.

Now for Wednesday, 4 March, Nifty will find a minor support at 2570 and resistance at 2635-2640. Intraday players should look to short on all rallies. The final stop loss for Positional traders should be 2700 on closing basis.

Nifty resistance at 2640-2655-2680. Support at 2590-2565-2520-2500.

Nifty Views for 2 March, 2009

Nifty opened down on Friday, following global cues traded in a narrow range before falling heavily due to disappointing GDP numbers. A late short covering rally from support levels of 2705-2710 saw the Nifty cross and close above 2750 again.

Now for the short term, 2680-2700 has emerged as a strong support for Nifty and the more we test this level and bounce back, the more confidence traders will have in going long near these levels. Any close below 2660 will bring the bear attack once again which may take Nifty down to 2500 levels.

For Monday, intraday traders should again look to buy near support levels of 2700-2720 if they get an opportunity and short near resistance levels of 2770-2790. Unless we close below 2660 or above 2805, positional traders should stay away from this market. One has to exercise patience and wait for higher levels to short or lower levels to buy as Nifty tends to move in very narrow ranges for the entire day.

Nifty resistance at 2765-2795-2820. Support at 2725-2705-2680-2660

Nifty Views for 26 Feb, 2009

Nifty opened above its resistance zone of 2755-2760 and continued to trade above this level with intraday volatility, which is expected near F&O expiry.

For Thursday, Nifty is expected to open flat and trade rangebound with intraday volatility. Intraday traders may sell at higher levels near 2795-2805 with range if they get an opportunity. On the downside, one may buy in 2750-2745 range with stop loss below 2725 spot. A close above 2807 will open bullish targets of 2850-2920 on the Nifty. A close below 2730 will open be bearish.

Nifty resistance at 2785-2805-2820-2860. Support at 2760-2730-2705-2680

Nifty Views for 25 Feb, 2009

Nifty opened gap down on tuesday above its support zone of 2680. It held that support and bounced back from those levels to lose well above 2700.

2675-2680 is acting as a strong support for Nifty now. A close below these levels seems highly unlikely before expiry unless there is an event triggering stock market collapse all over the world. Positional Traders should look to go long whenever Nifty falls to these levels with stops placed below 2660.

On Wednesday, 25 Feb, 2009, Nifty is expected to open positive in line with good global cues. It faces immediate resistance at 2750-2755 levels. One can go long if Nifty is able to sustain above these levels for a target of 2785-2800. More positive news is expected to follow and some short covering can be seen in later half of the day.

Nifty Resistance at 2755-2785-2805-2830. Support at 2730-2705-2690

Nifty Views for 24 Feb, 2009

Nifty closed at 2736 on Friday after a lot of tussle between the bulls and the bears. We have a truncated week with F&O expiry just 3 days away. The world markets have not fared well in the meanwhile and that is going to have an effect on our markets in the opening session.

On Tuesday, Feb 24, 2009, we are expected to open in negative in line with the world markets. There was some short covering that happened around 2700 levels on Friday and people who covered their shorts will again be looking to short near 2700/ break of 2680 levels. There are rumours about a possible RBI rate cut which can give a boost to our markets.

For Tuesday, Day traders should look to short Nifty near 2700-2690 levels. If we miss this level with gap down opening, it will be better to wait and watch than take risk of shorting at lower levels. With F&O expiry nearing, expect a volatile session and safe traders to stay out or deal only in Options in small lots.

Nifty resistance at 2705-2730-2760. Support at 2680-2650-2635-2600.

Nifty Views for 19 Feb, 2009

Nifty surprised everybody in the morning session by immidiately recovering into positive territory after opening on 18 Feb, 2009. However, it met with resistance in all upmoves and finally ended the day on a flat note.

Now for Thursday, 19 Feb, 2009, once again Nifty will try to test crucial support levels of 2750-2760 spot. If broken, we can see fresh shorts building up till 2700 levels. One can look to buy near these levels if Nifty sustains above 2750. If it doesn't, one can short with stop loss placed at 2775 spot. Below 2750, the slide can be quick till 2690-2680 levels.

Inflation figures are expected in afternoon and if they ease further, they might trigger hopes of a rate cut by the RBI. Hence, any shorting is advised only after the inflation news comes out and is taken in by the market.

Nifty resistance at 2775-2800-2835-2860. Support at 2755-2710-2680-2650

Nifty Views for 18 Feb, 2009

The uptrend that Nifty gave on breaking 2860 is over now as it closed below 2800 yesterday. This has opened up bearish targets of 2680-2630 now. This bearish outlook will change only if we close above 2890 now.

For Wednesday, 18 feb, 2009, Nifty is in the oversold region and a technical bounceback is not ruled out. However, with negative global cues, we are going to open on a negative note and a lot of selling pressure can be seen on every rise. 2755-2765 spot Nifty level is an important support zone which can be broken with gap down opening. If Intraday Nifty is able to cross this level, we can expect some bounce back from oversold region. If we trade below this level, Nifty is expected to test 2700-2680 before any bounceback.

Nifty resistance at 2765-2795-2830-2860. Support at 2710-2680-2650-2635

Nifty Views for 13 Feb, 2009

Nifty has again formed a narrow range and is now moving between 2880 and 2960. Breakout above or below can show swift movement. However, fresh shorts and selling pressure cn be seen near 2955-2960 levels.

For Friday, traders may buy on any dip till 2900-2880 and sell on rise to 2925-2930. Risky can also short at higher levels near 2950-2960 with a stop loss at 2975 Spot.

Nifty Resistance at 2905-2925-2955-2980. Support at 2890-2875-2855-2820.

Nifty Views for 11 Feb, 2009

As expected, Nifty faced resistance at 2950-2960 levels and fell sharply from those levels due to negative global cues.

On Wednesday, 11 Feb, 2009, Nifty is expected to open in the red due to bad global cues. The important level to watchout will be 2860-2845. Below this level, Nifty will be bearish and above this level, recovery can be expected till 2900. There may not be any shorting opportunity for intraday players at least in the first half due to gap down opening. One can go long near 2850-2840 levels for intraday gains.

Nifty resistance at 2880-2900-2930-2955. Support at 2860-2840-2825-2800

www.niftypower.webs.com

Nifty Views for 10 Feb, 2009

As predicted for Monday, "Nifty over 2875-2880 can achieve 2920-2940 on MOnday/Tuesday itself."

Nifty flared up smartly getting support from the bulls at all resistance levels. Above 2880 it sparked a short covering rally taking it to day's highs near the end of the session.

Now, the next hurdle for Nifty to cross is 2950-2960. Some more shorting as well as profit booking can emerge near these levels.

For Tuesday, we will have a flat to negative opening. Traders will also want to play it safe before the big news announcement comes from the US. Hence, we can see some selling pressures at higher levels.

On Tuesday, one should wait and see if Nifty sustains over 2900. If it does, positional players can hold on to their longs. Intraday players should lokk to go short near resistances at higher levels (2940-2960).

Nifty resistance at 2925-2960-3000. Support at 2900-2880-2855-2825

Nifty Views for 9 Feb, 2009

After having traded the entire week in a very tight range with increased volatility, Nifty looks to give a decisive breakout this week.

Global cues are positive and Nifty is poised for a positive opening on Monday if Asian indices support. It will face resistance right at opening levels and it will be interesting to see if it can stay above resistance levels of 2875-2880. If it does, expect an upmove till 2920-2940 levels on Monday/ Tuesday itself.

On the downside, Nifty finds support at 2825-2800 levels. If this level breaks, there can be fresh shorts build up till 2750 levels.

For Monday, watch from the sidelines for the first half hour to see if Nifty is able to sustain above 2880. If it does, one can go long with stoploss at 2860. If it fails to sustain above 2860, one can short with stop loss of 2880 and targets of 2825, 2800. Be quick to book profits if going short as the bounceback from support levels can be quick.

If Nifty closes above 2880 on Monday, one can hold long positions for further gain.

For 9 Feb, 2009, Nifty resistance at 2870-2895-2920-2945. Support at 2850-2825-2805-2785

Nifty Views for 6 Feb, 09

Nifty looked to test the lower range on Thursday but in the end, again ended the day almost on a flat note.

On Friday Nifty is expected to open on a positive note. Traders should look to buy on dips as long as it remains above 2800. Expect a test of 2850 if it trades above 2820 for some time.

This is an intraday players market. Just look for buying near support levels and selling near resistance levels. For Friday, Nifty resistance at 2800- 2820- 2845- 2875. Support at 2785-2750-2725-2700.

Nifty Views for 5 February, 2009

Nifty has been moving in an extremely tight range with volatile movements for the past couple of days. The movement has been largely speculative with swift moves on both sides. Traders are advised to be extremely cautious in such conditions.

Nifty is expected to open slightly on the negative side on 5 Feb, 2009. It faces resistance to cross 2800-2825 levels and very strong resistance at 2855 levels. It will get support at 2775 and 2750. Below 2750, the fall can be accelerated till 2700 levels.

Positional buying in NIfty is not recommended until it closes above 2875. Intraday, buying can be considered near support levels with tight stop losses. Traders can short near resistance levels of 2825-2830 with stop loss at 2855-2860. One should stay on the sidelines between 2790 to 2820 levels.

Nifty Views for 3 February, 2009

Nifty started on a negative note on 2 Feb, 2009 and continued its downward slide throughout the day breaking an important support level of 2800.

Now having closed below 2800, it has given bearish signal which will be reversed only if we close above 2800 today. For intraday, one may buy on dips or buy above 2765 (spot). Good support exists for Nifty at 2720-2710 which is expected to hold for today.

Expect a rangebound session for most part of the day with some action only in the later half. Nifty resistance at 2800-2820-2850. Support at 2760-2720-2690.

Nifty Views for 2 Feb, 2009

Now after closing above 2860, Nifty is poised at important resistance levels of 2875-2880. If it finds support at this level, it can go up to 2930 where again some fresh shorts will be build up.

Shorting Nifty is not advised till it stays above 2800 levels. On any intraday pullback, one may buy Nifty or Buy 2900 Call options with stop loss at 2810 Nifty Spot. However, any long positions should be built up only on pullbacks near support levels as not much volume can be seen at higher levels presently.

For 2 Feb, 2009, Nifty faces resistance at 2875-2900-2930. Support exists at 2855-2820-2800.

Nifty views for 30 January, 2009

Nifty faced a major hurdle at 2875 and returned from those levels even going below 2800 intraday on 29 Jan, 2009. Now it is not advisable to go long until we close above 2875. Nifty will encounter short build ups at higher levels. Being on the short side will be a safer option on 30 Jan, 2009.

On 30 Jan, 2009, Nifty is expected to open negative. Intraday players should try to short around 2820 levels with stops near 2855, or short below 2780 with stop loss above 2805. Expect heavy shorting if 2740 is breached.

Nifty views for 28 January, 2009

Nifty had a rocking performance today and has closed just below the important level 2780. Now, for 28 Jan, if it is ablt to cross 2800 with volumes and stay above it, it can go up to 2850. Intraday Players should go long above 2800 with a stop loss at 2780 Nifty Spot. Short below 2750 with s stop loss at 2780 for targets of 2710, 2685. Due to expiry, we may see a volatile session with testing of both resistance and support levels

Nifty View for 27 January, 2009

Nifty has now closed below a very important support of 2700. This was the level which was holding out despite negative global cues and bad news around. Somehow, Nifty always managed to closed above this level.
Now on Tuesday, 27 January, Nifty will try to again close above 2700. However, global cues and monetary policy can spoil this party. A very important support exists for Nifty at 2650. If there is news of rate cuts in the monetary policy, Nifty will easily surpass 2700 and close above it. However, If there are no positive cues in the monetary policy, expect 2650 to be broken and a close of Nifty near 2600 levels (Then 2550-2500).
Our personal view is that chances of rate cuts in this monetary policy are slim, as also indicated earlier by the RBI and Govt. Safe traders should avoid trading until the monetary policy comes out.