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
Thursday, February 26, 2009
Wednesday, February 25, 2009
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
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
Tuesday, February 24, 2009
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.
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.
Thursday, February 19, 2009
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
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
Wednesday, February 18, 2009
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
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
Friday, February 13, 2009
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.
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.
Wednesday, February 11, 2009
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
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
Tuesday, February 10, 2009
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 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
Sunday, February 8, 2009
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
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
Friday, February 6, 2009
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.
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.
Thursday, February 5, 2009
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 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.
Tuesday, February 3, 2009
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.
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.
Sunday, February 1, 2009
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.
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.
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