Friday, March 27, 2009
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
Thursday, March 26, 2009
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
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
Tuesday, March 24, 2009
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
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
Thursday, March 19, 2009
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
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
Wednesday, March 18, 2009
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
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
Monday, March 16, 2009
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
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
Thursday, March 12, 2009
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 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
Monday, March 9, 2009
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
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
Friday, March 6, 2009
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
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
Wednesday, March 4, 2009
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.
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.
Sunday, March 1, 2009
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
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
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