31 Dec: Nifty View

The expiry is done. Nifty closed near 6100 levels this expiry. At this point, I would like to remind our readers of our Nifty View of 28 Dec. You can read it by clicking here. Nifty had closed near 5990 levels on 27 Dec. From the Options OI data, we sensed some unusual activity at strikes of 6100 CE. At that time also, we sensed that this could be the level where Nifty could try to close near expiry. Two days gone, and the unusual activity at 6100 CE has finally been explained!

The Options OI data for Jan shows big OI build up of over 50lac+ at 6000 PE levels. This would act as a support now at least in the beginning of this series. 6100 is the 50:50 levels for now and the battle would be fought around this level for now. As expected, 6200 has more OI at Calls than Puts. Some more days into the series would give more clarity on the emerging range.

For tomorrow, watch the levels of 6110-6115 on Nifty spot. If Nifty manages to trade and stay above them in morning trades, it will try to test 6130-6150 levels on the upside. On the downside, support now exists at 6070/6065 Nifty spot. below this, we will again see slide upto 6035-6005 levels. Another important thing to note is that Nifty has closed above its 50 DMA after more than a month and then has given a follow-up move on the upside. Hence, consider the trend as Up and try to Buy on Dips for more upsides till we get signals of exhaustion from the market.

31 Dec: Nifty spot resistance at 6105-6115-6130-6150. Support 6070-6050-6035-6005 - www.niftypower.com

Visit here for Nifty Option Tips

29 Dec: Nifty View

Nifty put in a lackluster day today two days before expiry. Whole day it kept hovering between our first resistance of 6015 and support of 5990.

The Options OI data has an interesting pattern to show. The OI added at 6100 CE yesterday was cleared today. However, the data shows addition at 6000 CE today. Some people sure has guts! January Options OI data shows big addition of over 7.5 lacs OI at 6000 PE levels. Seems like the Bulls are getting confident of taking the Nifty higher in coming days.

For tomorrow, initial resistance for Nifty Spot again comes at 6010-6015 levels. If it manages to stay above these levels, it will again try to target 6035-6060 kind of levels. On the downside, good support exists at 5975-5970 levels. Below these levels, Nifty will try to test lower levels of 5955-5935. Below 5935, we will some panic in the market. Trade the range of 5975 to 6030 till we get a confirmed breakout/ breakdown on either side.

29 Dec: Nifty spot resistance at 6015-6035-6060-6080. Support at 5990-5975-5955-5935 - www.niftypower.com

Visit here for Intraday Nifty Option Tips

28 Dec: Nifty View

In Yesterday's Nifty View, it was given to watch the action at 6035 Spot for upside moves and Support at 5995 Spot for downside moves. Once Nifty opened and moved above 6035 in morning trades, it was struggling to stay above 6035 with overbought indicators. We sensed the move and went short at that level for a cool gain of 50+ points. Nifty spot went till our Support of 5995 and would have given some points to anyone who went long at those levels also.

The Options OI data is normal near to expiry with covering at almost all the strikes, except for 6100 CE. As said yesterday also, do not read much into Options data in the last week of expiry. However addition of OI at any strike level so near to expiry would not make sense as the Risk:Reward ratio would be heavily against the writers. Hence, the addition of OI at 6100 CE does seem strange. Will Nifty try to move near 6100 by expiry? We will know in a couple of days.

For tomorrow, watch the action near 6010-6015 on Nifty spot. If it manages to stay above it in initial trades, it will again try to test higher levels of 6035-6050-6060. On the downside, support comes at 5990 and then 5970/5965 levels. Below 5970/5965, Nifty spot will try to test lower level of 5940. break of 5940 spot would create real panic in market.

28 Dec: Nifty spot resistance at 6015-6030-6045-6065. Support at 5990-5965-5940-5905 - www.niftypower.com

Visit here for Intraday Nifty Future Tips

27 Dec: Nifty View

In our last Nifty View, the downside supports were mentioned as 5970, 5955 and 5935 while the upside resistances were 5995-6005 and 6030. Nifty opened near our support of 5935 (5941), went up till 5975 near to our breakdown point of 5970, came back and tested our support of 5955 and then made a smart recovery to end near day's highs at 6014.

The Options OI data show the Bears covering calls from 5800 to 6100 strikes, the most being at 6000 strike. The Bulls also added OI in Puts of 6000 and 6100 strikes. The Bulls have now built strong support at 5900 and 5800 levels and are working hard at the 6000 level. This is a 50:50 levels as of now. 6000 can act as pivotal to Nifty's movement for the earlier part of next week. However, do remember that next week is Expiry week. Any addition in OI from now on can be termed as speculative Selling/ Buying of Options at Best. Hence, we would take today's Option OI data as that for the entire next week and give more importance to other indicators from now on. Thus, the Options data indicate an expiry very near to 6000 levels with the expiry range being 5900 to 6100.

For tomorrow, watch the action near -6035 Nifty spot for further upside moves towards 6060-6080 and higher. On the downside, look out for support near 6000-5995 Nifty spot. If these levels break, Nifty may slide further towards 5970-5955 levels. Once again, do remember that Puts at 5900 and 6000 strikes have been added very recently and these guys would panic first in case of any downmove. Hence, Positional Longs should have strict stoplosses at 5955-5935 Nifty Spot for Now. Till Nifty is trading above 5935 Spot, trend should be considered to be Up Only.

27 Dec: Nifty spot resistance at 6020-6035-6065-6080. Support at 5995-5970-5955-5935 - www.niftypower.com

Intraday Nifty Options

Wish All Readers Merry Christmas and a Happy New Year!

24 Dec: Nifty View

This month has turned out to be an Option writers paradise. Will it end this way too?

Last few days, we have seen Volatility dipping sharply on the Nifty. Options writers are really making merry this month and it shows in the Options OI table. The Bears are busy writing away Calls at 6000 and 6100 strikes, while the Bulls are working their way with Puts at 6000 and 5900 strikes. 6000 is acting as the pivot for Now. Last few days compression on the Nifty has sure given Option writers some confidence. However, we would advise them not to forget the extreme Volatility we got so used to just few days back. A breakout above 6000 or a breakdown below 5900 would be really fun to watch before expiry, which can give the traders quick 100+ points. Looking at the Options table, we do not expect Nifty to expire outside of the range of 5800 - 6100 as of now. Having said that, breakout/ breakdown above/ below 6000/ 5900 can change the picture quickly. If the writers of either 5900PE or 6000 CE cover, we will have an action packed Expiry.If not, then keep scalping small profits on intraday basis.

For tomorrow, watch the action near 5995-6005 spot for upside moves. If Nifty manages to trade above 6005, it will again attempt 6030 and 6060 on the upside. If it sustains above 6060, we can see some short covering towards 6100 levels. On the downside, watch 5970 Spot for some support. Below this, Nifty may again attempt 5955-5935 and lower levels. Sustained move below 5950 would cause the 5900 CE writers to panic and cover. Do remember that Puts at 5900 and 6000 strikes have been added very recently and these guys would panic first in case of any downmove. On the contrary, the 6000 CE writers had their positions from the start of the series and are already in decent profits. Hence, they would not be in a hurry to book out unless Nifty sustains above 6000 for sometime.

24 Dec: Nifty spot resistance at 5995-6005-6030-6065. Support at 5970-5955-5935-5905 - www.niftypower.com

Visit here for Nifty Future Tips

21 Dec: Nifty View

In yesterday's Nifty View, 5910 to 5970 was the range given for Nifty spot. Nifty violated on both sides by about 10 points. Looking at the support near the lower part of the trading range in the morning, we were able to spot a very good Long opportunity for a good gain of 50+ points. As it turned out, Nifty did all our targets and then finished almost at the same level where it had closed Yesterday.

The Options OI data suggests some sort of support building for the Nifty at 5900. However, the strong OI build up at the 6000 CE strike still suggests that it will be a big mountain to climb for the Bulls. This along with the large difference in OI of 6100 CE and 6100 PE levels (6100 PE being very less compared to 6100 CE), suggests that even if we go above 6000, the Bulls are not very hopeful of Nifty expiring above 6100 at this stage. 5800 - 6000 is still the range that is indicated by the Options OI data and unless one of these levels is crossed convincingly, traders can very well trade this range for decent profits, whenever they get an opportunity.

For tomorrow, 5940 spot is the immediate support for Nifty, below which, it can quickly slide down till 5920-5910 levels. Lower level supports exist at 5880 and 5855 Spot. On the upside, 5970-5980 would offer initial resistance, above which the Bulls will again attempt 6000-6030-6060 levels. Watch the action closely near these levels and trade with tight stoplosses for good gains in Intraday Trade.

21 Dec: Nifty spot resistance at 5975-6005-6030-6055. Support at 5940-5920-5910-5880-5855 - www.niftypower.com

Visit here for Intraday Option Tips

20 Dec: Nifty View - Still Indecisive?

In our last Nifty View, we had written that Nifty was in an indecisive mode as of now. It is an Option Writers market as of now, which is operating within a range, although with high volatility. Thursday's decline below 5880 and then 5860 (although momentarily) gave us a false sense that the Bears are finally going to win the battle of 5900. However, it was not to be and we saw a fast short covering rally which took the Nifty up my almost 100 points from the lows.

Although Thursday's movement would have given the Bulls some heart, we would like to watch the movement on Monday to see whether the Bulls have strength to take this market above 6000. The Options OI data also show Call covering by the Bears at 5800, 5900 and 6000 levels and Put addition by the Bulls at the same levels. Still, there is massive OI at 6000 CE levels and we would like to see some balance between the OI of 6000 CE and 6000 PE, before Nifty heads higher.

For Monday, the levels to watch on the upside are 5950-5970 and 5910-5930 on the downside. On any correction, if Nifty again goes below 5915, that should set the alarm bells ringing for the Bulls. The downside support for Nifty then comes at 5880-5850 levels. On the other hand, if we open up above 5960, OR move above 5960/ 5970 spot and then are able to sustain it, then we can see some panic short covering from the 6000 CE writers which can take this market higher to 6030-6060 kind of levels. Keep this levels in mind and trade accordingly till we get a confirmed move either side.

20 Dec: Nifty spot resistance at 5955-5970-5995-6030-6060. Support at 5945-5930-5910-5880-5850 - www.niftypower.com

Visit here for Nifty Options Tips

16 Dec: Nifty View

The above Chart depicts the state of the Nifty as of now. And that is Indecisive. Both Bulls and Bears will be worried of their positions as of now. For the Bulls, a close/ decisive move below 5880 would be a first alert to reduce their positions and a close/ decisive move below 5820 would, in a all probabilities end this upward correction. For the Bears, Nifty holding 5880 and conquering 5930-5940 would be a cause for worry.

The Options OI data also gives 5900 as a 50:50 level, which has still not been resolved in these three days of traing. Tomorrow being the last trading day of this week (Friday is a holiday), it remains to be seen whether we get some decisive moves tomorrow or whether we will have to wait for next week to get a decisive move. 6000 is still the toughest resistance while 5800 is the strong support as per the Options data of today.

The silver lining in this indecisive period is the Volatility, which is giving the Day Traders some very good opportunities to earn both on the Long and Short sides. For tomorrow, watch the level of 5915-5935 Nifty spot for resistance and 5880-5860 Nifty spot for support. Anyside breakout can give some quick movement either side. Till we get a breakout, trade the broad trading of 5860 - 5935.

16 Dec: Nifty spot resistance at 5915-5930-5945-5965-5995. Support at 5880-5865-5850-5820-5805 - www.niftypower.com

Visit here for Nifty Option Tips

14 Dec: Nifty View

In our yesterday's Nifty View, we had mentioned that the time to go long was coming. 5800 was the strong support, while 6000 will be a resistance zone for the Nifty. Nifty gave a Golden opportunity to go long in the morning. Once it took support at 5800 after the initial sell-off, we were looking for signs for some strength to come above 5825-5830 spot. When it came, we grabbed it with both hands.

The options OI data still suggest the same thing. 5800 is the strong support, while 6000 is the strong resistance zone. 5900 is still the 50:50 level and it will be resolved tomorrow. There is also some interesting cutting of OI that happened today at 6100 CE strike. Now addition of OI at 6000 CE and reduction at 6100 CE does not make too much sense. We will get more clarity on such actions in the coming days.

For tomorrow, initial resistance for Nifty comes at 5915-5920 spot above which Nifty spot can attempt 5960-5970 kind of levels. We expect some consolidation/ supply to come around 5950-5970 if these levels are reached in the morning session itself. If however, Nifty declines first in the morning session, then 5880/5875 spot can be a good area to try some longs again. Till it stays above 5830 spot now, longs look to be more rewarding.

14 Dec: Nifty spot resistance at 5915-5930-5965-5995. Support at 5880-5860-5830-5820 - www.niftypower.com

Visit here for Nifty Future Tips

13 Nov: Nifty View - Time to go Long??

Nifty made a smart recovery on Friday, to keep the hopes of the Bulls alive. Now when the world is turning Bearish, I would like to bring the attention of the readers to our post of 8 November. You can read it by clicking here. The world was highly Bullish on that day, when we were turning Bearish. Now when the world is turning Bearish, We would like to remind you of another post written sometime in October. That post read, "...We have been advising against positional longs from the beginning of the week. The time for going long will definitely come. Grab it with both hands when it does and do not miss out due to fear...".

Well... is it the time to go long?? Not Yet. Nifty has to show strength in this upmove . The levels to watchout for on the upside are 5850, 5900 and 5930 spot.Only a close above 5930 would make positional longs Safe for now. This would also mean that 5690 has been saved by the Bulls, a higher Low has been formed keeping the uptrend intact. Hence, watch these levels with lot of interest. If Nifty sustains above these levels, then we would definitely advise Positional longs with a proper stoploss.

The Options OI of Friday show more than 8 lacs OI addition at 5800 PE levels and not much additions at 5800 CE. This level would be a good support in the coming days. 5900 is still an undecided level while 6000 is strong resistance. Nifty movement at the start of next week would give more clarity on who takes over the level of 5900.

For tomorrow, watch the levels of 5875/5880 on the upside and 5820/5825 on the downside for first signs of strength or weakness. Above 5880, Nifty will try to test 5900-5930 on the upside. Above 5930, we wills see some panic short covering from the Bears. on the downside, break below 5820 spot would again invite some selling from the Bears and we can see a revisit of 5800-5750 type of levels .

13 Dec: Nifty spot resistance at 5880-5895-5930-5970-5995. Support at 5850-5820-5800-5775-5750 - www.niftypower.com

Visty here for Nifty Option Tips

9 Dec: Nifty View

The chart above tells the complete story of Yesterday. Nifty opened below our reference level of 5960 spot, moved below Our lower support at 5930 Spot, Took resistance multiple times at 5930 to finally breakdown and have a visit below our last support of 5885 (actual low of 5878). From there, we got a bounce of around 30+ points. For anyone, who follows only the charts and not his emotions, yesterday should have been an easy day of trade.

Now once again, the previous supports of 5930 and 5960 spot will act as resistances for the Nifty. Nifty should give a minimum close above 5960to be back into the range of 5930 - 6070. Till then, it is a sell on rises market.

The Options OI also indicate big amount of OI addition at 6000 CE and 5900 CE levels. While OI of 6000 PE and 5900 PE was reduced by a decent amount yesterday. The Options data suggest some more pain left for the Bulls. They will have to give a minimum close above 5960 to scare away the 5900 CE ariters first. Any close above 6000 now will lead to panic covering from these writers. However, that is just wishful thinking at this stage.

For today, watch the resistance at 5915 spot and then 5930 Spot. If Nifty manages to trade above 5930, it will again try to target 5950/ 5960 levels where again it will see some selling pressure. On the lower side, minor support exists at 5880/5885 spot. Below this,we will see 5860/5850/5820 kind of levels. 5800 is still a strong support according to Options data and that would be a good buying zone if at all Nifty goes near 5800-5825 zone.

9 Dec: Nifty spot resistance at 5915-5930-5950-5960-5985. Support at 5900-5885-5860-5850-5820 - www.niftypower.com

8 Dec: Nifty View

First a false breakout above 6030 Spot. Next a false breakdown below 5960 spot? As the Breakout above 6030 happened with overbought indicators, we did not believe it, Similarly, today the breakdown happened with oversold indicators. At NiftyPower, we took two short trades today. One near 5965 spot levels, which gave us a profit of 20+ points. The other trade we took was in late afternoon near 5985 levels. This also gave us quick 35+ points. Overall, it was a good trading day for us.

The Options OI data today show an almost equal amount of OI addition at 6000 CE and 6000 PE. 6000 will be the level of tug and war between the Bulls and the Bears. Once the OI at this level is resolved, we will have more conviction in the Breakout or the Breakdown. Till then trade the range of 5960/5930 to 6030/6070.

For tomorrow, once again watch the level of 6010 on the upside and 5960 on the downside. A move above/ below these levels can give quick movement of 25+ points. If Nifty trades in a rangebound manner, then trade this range of 5960 - 6010 with tight stoplosses.

8 Dec: Nifty spot resistance at 5990-6010-6030-6060-6070. Support at 5970-5955-5940-5915-5905-5885 - www.niftypower.com

Visit here for Nifty Option Tips

7 Dec: Nifty View - False Breakout??

In our last Nifty View, we had mentioned the resistance at 6030 and support at 5935-5920 Spot. Nifty opened right at our breakout level and soon conquered it for good upside in the first half. However, we did not believe in the breakout from morning itself (due to the Overbought Indicators), and instead went short at around 6045 spot levels. What a Mistake! In Intraday trading, timing is everything. We made the mistake of going short a bit early while the actual Sell was generated about 2 hrs. later at the very same levels! Nifty just took our Stoploss in the first Short and then fell more than 60+ points. As a policy, we do not take a second call once the stoploss is hit in the first call. Hence, it was a Loss making day for our Subscribers.

For all those who went Long Positionally above 6030 Spot, 5960 should be a decent level of stoploss. Below 5960,Nifty may lose some more points and fall towards 5930-5900 levels. Till the time it is closing above 5930, trend should be considered to be Up only.

The Options OI data indicate more than 10 lacs+ addition at 6000 PE and 6100 PE and more than 8.5 lacs+ addition in 6000 CE and 6100 CE. The OI at 5900 CE and 5900 PE hardly changed. The OI data suggests range of 5900 to 6000 for the Nifty presently. What is surprising though, is the addition of more than 5 lacs+ OI at 6100 PE even on a down day like this. Once the writers of either CE or PE at 6000 & 6100 start to cover, we will see a trending market once again. Till then, trade the range.

For tomorrow, watch the action near 5960 spot and 6010-6015 spot. One can go short below 5960 for an intraday target of 5930-5900 and more. Above 6010 spot, Nifty will again try to test 6030 and then 6065 Spot and more. If manages to trade above 6065/ 6070, we may see some Panic Short covering from the Bears.

7 Dec: Nifty spot resistance at 6010-6030-6070-6120. Support at 5990-5960-5925-5900 - www.niftypower.com

Tips for Nifty

5Dec: Corrective Rally or Trend Reversal?

Is it a Corrective Rally or the Nifty has done a trend reversal and going again for all time highs? That is the question I am getting a lot from our Subscribers these days?

The answer is... Why Worry? Look at the chart posted above. Once Nifty broke out above 5870 kind of levels, it has already given 150+ points on the upside. Now, the earlier resistance of 6030 is again providing stiff resistance on the upside. For next week, we will be closely watching 6030 on the upside and 5935-5920 spot on the downside. Breakout/ Breakdown from these levels can again give a sizable move of 100+ points.

Plan your Trade and then Trade the Plan. Stop worrying where the market is heading. Just be unbiased and see what the charts are telling you. That should be enough to ensure consistent profits.

Happy Trading!

www.niftypower.com

Tips for Nifty

Daily Nifty View will be Back from Monday!

We could not update the blog all of past week. Actually, was busy refining the data that I had (Thanks to our Real Time Data Provider for That!). Found a lot of bugs and it took a real effort to clean all of it.

Now it is done, and we have also changed our Real Time Data Provider. Hopefully, this one will provide a better service and correct Data. We will update the weekend analysis with the updated charts shortly.

Happy Trading!

www.niftypower.com

Can't upload the Charts today. last few days, the real time Nifty data has been erratic, to say the least. As if the freak quotes at the pre-open from 9:00 AM to 9:15 AM were not enough. Hence, there are no updated charts and Nifty Views for tomorrow. Hopefully, things will get sorted out by Monday morning.

Trade Safe!

www.niftypower.com

26 Nov: nifty View

It was a sellers expiry yesterday. A two way movement with volatile moves till the last hour. Expiries are always Risky to trade. If you wanted to experience that, one should have watched the price movement in Options of November Expiry. Till 3:00 PM, it looked as if Nifty spot had respected the previous bottom made at 5825 and formed a double bottom. It bounced around 40 points, twice from that level (reason for us not taking that short call marked in the chart). However, when it broke it, there was no looking back.

Today, being the first day of the expiry, would confirm whether yesterday's move was a blip Or is it here to stay. We are at the end of the week and the Month end is also nearing. If Nifty is unable to recover some of its losses by the end of this month, it would generate a "Sell" on the monthly time frame. Last time this happened, we had a reversal. Will it repeat this time too?

For today, watch the levels of 5790 and then 5760/5750 on the downside. These have to be protected for any kind of bounceback materialize. On the upside, 5825-5830 and 5850 will be the initial resistances, above which some short covering can take Nifty to test 5880 - 5905 levels again. Trade these ranges now till we get a breakout on the Upside. I don't recommend any fresh shorts right now. For those who are already in short, hold on till we get a reversal (above 5960?).

26 Nov: nifty spot resistance at 5830-5850-5880-5895. Support at 5790-5760-5750-5735 - www.niftypower.com

24 Nov: Nifty View

It was a news driven day. Nifty tanked almost 180+ points and then recovered 120+ points in a V shaped recovery to kill the shorters who traded on News. We prefer to avoid trading on such days. However, there was a nice sell call setup in the morning (before the news), which could have been taken by the traders. Nifty had broken our reference level of 5955-5960 in the morning itself and then was unable to sustain above it.

For today, once again watch the levels of 5955-5960 on the upside. Sustaining above this, Nifty can again target 6000-6020 kind of levels. However, real Bullishness will come only if it crosses and sustains above 6020-6030 spot. On the downside, support would come at 5900-5890 levels break of which can lead for another round of at least 30-40 point fall.

They say that "Bottoms are Made in Panic" in the market. Yesterday was one such panic day. Will 5825 turn out to be the bottom of this correction?? Only time will tell. Be ready!

As expiry is near, trade light with your positions.

24 Nov: Nifty spot resistance at 5960-5975-6005-6020. Support at 5930-5905-5890-5855-5825 - www.niftypower.com

Nifty Tips

23 Nov: Nifty View

Nifty opened up above our reference level of 5920, broke it and then broke on the upside again to go for a solid 100+ points rally. The ideal trades for the day are marked on the chart. A trade with low risk:reward at the ideal levels. At NiftyPower, we took the lone short call at 5955-5960 levels which almost did our second target of 30+ points. We avoided the long trades today as the larger trend is still down although Nifty was at over sold levels.

Tomorrow will be an important day for deciding the larger trend of the market. If Nifty manages to give us a close above 6030 tomorrow, our bias will turn towards upside and Buy on Dips will be more favorable. However, if it is not able to test 6030 and instead, breaks and close below 5960-5955 levels, then this upmove may be termed as a relief rally to correct the oversold levels. This will mean more downsides. Between 5960 and 6030, the trend remains unclear as of now. Watch these levels closely tomorrow.

23 Nov: Nifty spot resistance at 6020-6030-6060-6085. Support at 5980-5950-5930-5890 - www.niftypower.com

19 Nov: Nifty View

In yesterday's Nifty view, it was given that ".. Above 6015, we may see some weak shorts cover till 6030-6060 ..". Nifty made exact high near 6030 Spot levels. Further, it was given that "..minor support for Nifty exists at 5970/5960 spot levels, below which a revisit to previous low of 5935/5940 will happen..". Nifty went straight down till 5906 once it broke 5960 levels. Look at the chart above. Could you spot the trade opportunities circled above. These should have been the ideal trades for the day fetching more than 100+ points minimum. However, on a day like this, it is better to stay on the sidelines and watch the fun rather than being in the market. Always think of preserving your Capital first. Profits will come automatically.

The chart for tomorrow is given below:



This upmove, if genuine, should clear 6030, 6060 and then 6130 for the Bulls to be back in full force. Intraday traders, watch the level of 6030 spot on Nifty. If clears and stays above it for sometime, it will target 6060-6100 on the upside. On the downside, 5970-5960 levels should provide support to Nifty. If this is broken, we will revisit the lows made today and probably move lower too. Watch the action closely near these levels and then trade with tight stoplosses in this volatile market.

19 Nov: Nifty spot resistance at 6030-6060-6085-6115-6130. Support at 5995-5970-59605935-5905 - www.niftypower.com

Tips for Nifty

18 Nov: Nifty View

In my previous Nifty View, it was given that "... the movement of Nifty will tell us whether this was just a relief rally for the sharp correction that we had witnessed last week Or is there further upside left...". Well, Nifty gave us the answer and How! One way down with Over 100+ points.

From now on, all eyes will be on the previous low of 5937. Bulls will try hard to save that level. If the Bears are somehow able to conquer that level, it will spread some Panic among the 6000 PE and 5900 PE writers, and maybe a quick visit to 5850 levels where we may pause again. On the upside, Nifty will face tough resistance now at earlier support zones. It is a sell on Rises as long as we stay below 6130 Spot as of now.

For 18 Nov., Intraday traders watch the levels of 6000 and 6015 on the upside. Above 6015, we may see some weak shorts cover till 6030-6060 levels, where again sellers will emerge. On the downside, minor support for Nifty exists at 5970/5960 spot levels, below which a revisit to previous low of 5935/5940 will happen. Trade on both long and short sides with tight stoploss to gain from this volatile market movements.

18 Nov: Nifty spot resistance at 6000-6015-6030-6060. Support at 5970-5960-5935-5900 - www.niftypower.com

Visit here for Nifty Option Tips

16 nov: Nifty View

In Yesterday's Nifty View, it was given to look for going long near 6030/6025 region and watch for resistances near 6085/6090 and then 6115/6125 levels. Nifty made a low at 6139 levels and then faced some selling pressure at 6090 levels, before clearing it to make a high near 6128 levels. I have told this many times before and want to reiterate it here. Always place your orders at important Supports and Resistance levels only. Waiting for the right levels to come is half the battle won. After that, just believe in what the Screen is telling You. At NiftyPower, we took two trades today - The first one a short, the second one a long. Both earned us 20+ points giving a total of 40+ points for the day.

Now for tomorrow, 16 November, the movement of Nifty will tell us whether this was just a relief rally for the sharp correction that we had witnessed last week Or is there further upside left. Intraday traders watch the action near 6150/6160 levels on Nifty spot on the upside and 6085-6100 levels on the downside. Trade this range till we get a breakout/ breakdown for further moves till 6200 on the upside and 6030 on the downside. 6100 is the new battle zone for the Bulls and the Bears. It remains to be seen who wins it tomorrow.

16 Nov: Nifty spot resistance at 6120-6145-6160-6200. Support at 6100-6085-6060-6040-6030 - www.niftypower.com

Visit here for Nifty Future Tips

15 Nov: Nifty View

Nifty is trading at oversold levels and after the initial jerks, can move up in the morning session. Also, high Open Interest at 6000 PE and 5900 PE strikes suggest that these levels should not be taken out so easily.

Intraday traders watch for some support near 6030-6025 Spot levels. One can look for going Long if Nifty comes near this level in the morning session. Longs should only be kept on intraday basis for now till the time Nifty starts to show some strength. If Nifty is not able to sustain above 6030/ 6025, we may see further correction upto 5980-5935 levels which would be trend deciding levels for the Nifty.

On the upside, resistance now comes 6085-6090 levels and then at 6115-6125 levels. With the type of selling we witnessed last week, a lot of traders would have become Sellers on Rise and it remains to be seen whether Nifty manages to take out these sellers and absorb all the selling. After two trending days, I again expect the market to give both Long and Short opportunities to the traders. trade the range till we get the next confirmed move on either side.

15 Niv: Nifty spot resistance at 6095/6090-6120-6140-6160. Support at 6065-6030-5995-5980 - www.niftypower.com

Visit here for Intraday Nifty option Tips

13 Nov: Nifty views and Weekend Updates

Its a market holiday and generally I do not post my views on weekends. But since I have some time, just thought to share some weekend thoughts with the readers of this Page.

Nifty broke down crucial supports with volumes last week. At this point, I would draw your attention towards this post given on 8 Nov, and appropriately titled "Caution!". Nifty was hovering around all time highs at that point of time. Now it has done a 250+ points of correction from those levels and I see people turning Bears from Bulls again!

You do not need to follow complex TA methods to make money from this market. there is no holy grail to make money. No system which would give you a 100% result. The holy grail is within you. Technical Analysis does not tell you what is going to happen in the market. Nobody can predict the Future. What technical analysis tells you is what is happening Now! If you have the eyes to see it, if you can keep your emotions out and believe in what is happening, if you blindly follow your well tested system, You will surely Make Money in the market.

Have a look at the chart below and also see the post on 8 Nov. again:



In the post on 8 Nov., it was clearly written that the green line had been providing support to Nifty ever since it formed a bottom around 5935-5940 levels. It was also suggested to start reducing the long positions once this green line was crossed. I was not telling you this. The market, the system was telling this. I could only see Bulls at that time. As I am starting to see Bears now.

At NiftyPower, we try to teach our Subscribers this simple method of trading. Have your actionable levels ready. These could be the Pivot levels, Swing highs and Lows, Value Areas, Supports and Resistances, Moving Averages... anything. But have it ready with you before each day and before each trade. Buy and Sell only at the pre-planned levels. Look for Risk:Reward at your predetermined levels and then take the decision to Buy/ Sell accordingly. That, if followed routinely, would lead You to the Holy grail that is within You!

11 Nov: Nifty View

Nothing much to update. Nifty remains rangebound in a broad trading range of 6240 to 6310 Spot. Narrower trading range is 6270 to 6295. Trade these ranges using other indicators till we get a breakout/ breakdown. Do not go short positionally till Nifty gives us a close below 6240. We had an inside day yesterday. Break above/ below yesterday's highs and lows would provide the first indications of a breakout. Watch carefully the price and volume action near the levels.

11 Nov: Nifty spot resistance at 6295-6310-6320-6335. Support at 6270-6255-6240 (strong) - www.niftypower.com

tips for Nifty

9 Oct: Nifty View

In our Yesterday's Nifty View, it was clearly mentioned that I don't advise anyone to go long at such high levels with Overbought readings. 6290 was the reference point given as a strong support, the break of which straight away led to our next support area of 6270 spot. We and subscribers of NiftyPower took the same trade for an easy gain of 20 points in a rangebound day. Thereafter, Nifty kept moving in the range of our S1 at 6300 and S2 at 6270 for the entire day.

Have a look at the price movements of today:



For tomorrow, immediate support for Nifty spot comes at 6265-6250 zone. A move below 6250 can trigger some stoplosses for 6230-6220. On the upside, resistance comes at 6300/6305 Spot. A move above would again lead Nifty to test recent high at 6335/6340 spot. After a sluggish day today, I expect Nifty to give an opportunity for both Long and Short Trades. let's ee what it has in store for us tomorrow.

9 Nov: Nifty spot resistance at 6305-6335-6345-6365. Support at 6265-6250-6230-6200 - www.niftypower.com

Visit here for Nifty option Tips

8 Nov: Nifty View - Caution!

The title of today's Nifty View says it all. Caution! Whenever I see extremely Bullish or Bearish Views floating around, I know this is the time to exercise caution. Right now, I see the Bears missing from the street. All I can hear is "Nifty is gonna make a New High". Is it really that important? What is more important - A New High or a sustainable move above the New High. Have a look at the chart below:



Nifty has done over 200 Points while being in Overbought status. While it can stay in overbought status for a long time, it is definitely not the time to initiate New Longs at this point. Wait for some time for the overbought status to cool off, to initiate new long positions.

Have a closer look at the chart and you will find that it has taken support at the green line and never moved below it once it crossed above it after making a low near our Support Zone of 5935-5940. For those who are already long, a close below these lines can be the first indication for reducing long positions. Trail your stoploss to protect your profits. Book partial and re-enter at the right time.

Positionally, till the time it stays above 6095-6060 levels, this uptrend will be considered to be intact. For intraday traders, watch the levels of 6290/6285 spot for supports on Monday. For anyone going long, 6290 can be the Stop and Reverse level for Intraday. I won't recommend any longs on intraday basis also at this point. However, for those who want to go long, can do so above 6335-6340 levels to participate in the frenzy at all time highs.

8 Nov: Nifty spot resistance at 6335-6355-6370-6395. Support at 6300-6290 (strong)-6270-6255-6220 (strong) - www.niftypower.com

Visit here Nifty Options Tips

Happy Diwali to All Readers!

2 Nov: Nifty View

Nifty has given a fine reversal from support zone of 5935-5940 spot (mentioned to subscribers) and continued its uptrend today. 5935 Spot becomes an important level to keep in mind now below 5980.

On Monday, 1 Nov, Nifty opened with a big gap above its resistance zone of 6070-6075 and never tested it during the day. Hence, this becomes another important level to watch out for the Bulls in the days to come. Below this, Nifty may try to fill the gap right down till 6017-6025 levels. Hence, 6070-6060 spot can be the stoploss for those holding positional longs in Nifty Future as of now.

On the upside, stiff resistance exists at 6130 and 6150/6155 levels. Once above 6150, it can go and test the next strong resistance at 6225. This week has some important news reports on the domestic front (RBI policy) as well as rom the International Markets. Hence, we may see some gap ups and gap downs during the week. Hence, trade light on overnight positions.

For the day, watch the level of 6130 and 6150 spot on the upside. Above 6150, some panic short covering can quickly take Nifty to 6180-6220 levels. On the downside, supports exist at 6105-6095 levels, below which, it may test 6070-6055 again. Overall, trade the range of 6070-6150 now until we get a breakout/ breakdown on either side.

2 Nov: Nifty spot resistance at 6130-6155-6180-6225. Support at 6105-6095-6070-6055-6015 - www.niftypower.com

Visit here for Nifty options Tips

25 Oct: Nifty View

Nifty gave another breakout above 6030 spot on Thursday which might have signaled the end of the very short term correction that we are witnessing. This level was held well on Friday. Now the support for Nifty should come at 6030-6015 levels and if it holds this and clears 6120-6130, we can see another breakout and attempt towards 6200-6220 spot. Hence, trade the range of 6030 to 6120 with stoploss and reverse trade 15 points away.

For the day, watch out for 6100 spot on upside and 6030 on the downside. Break above 6100 spot can lead Nifty to test 6120-6130 spot levels. Breakdown below 6030 levels can test 6015-6000 levels. As usual, initiate a trade only at the supports and resistance with small stoplosses for higher probability of winning.

25 Oct: Nifty spot resistance at 6080-6100-6120-6130-6145. Support at 6060-6040-6030-6015-6000-5980 - www.niftypower.com

Visit here for Nifty Future Tips

19 Oct: Nifty View

In yesterday's Nifty View, it was written that "... While a short trade may be fruitful below 6025 levels, we will not advise it purely on the basis of Risk : Reward...". Well, a short trade did prove useful in the first half, but as advised, we also did not take it as Risk:Reward did not favour it.It was also given that ".... After two days of straight line declines, we expect to see Nifty give an opportunity for both Long and Short trades tomorrow...". Well, anyone who followed the market, can see the decline in the first half and then the recovery of all the losses in the second half.

You don't need any great Technical Analysis skills to make profits in this market. All that is needed is common sense. Just do all the buying and selling at the supports and resistance levels only, be quick to identify when a support has been broken and becomes a resistance and that's it. Most of the time, you will be on the right side of the market. Take an example of today's levels. Today's resistance points were 6060-6085-6130 etc. Supports were 6030-6000-5985 etc. If you see the chart of Nifty, it broke the first support of 6030 (first time we went long at this level - a Mistake that cost us 20 points!) in morning trades, and went till our third support of 5985, bounced back, and kept hovering between 5985 to 6000 for rest of the morning. It tested the support of 5985 3-4 times, then broke 6000 and went to test 6030, fell sharply again to 6000 (This was the point where we went long for a cool gain of 60+ points!!), and then went to break 6030 to test higher resistance at 6060 and then 6085/6090 as given in the Daily View. It reacted at each and every level.

Now for today, the leading indicators have turned from Oversold status and are giving a Buy signal. But the prices have to confirm the upmove by moving above 6105 first and then conquering 6140/6165. For a positional trade, we would advise to sit out and watch the whole day and then take a Long/ Short trade based on whether Nifty is able to close above 6140/6165 today or not. For intraday traders, watch the action near 6100/6105 levels in morning trades. If Nifty manages to hold 6100, it will move higher to test 6140 where again it will face some selling pressure. On the downside, support now comes at 6045-6030 levels. Till it remains above 6030 now, momentum will remain with the Bulls. Below 6030, it may revisit 6000-5985 zone. A knock on 5985 once again would most likely break it for lower levels.

19 Oct: Nifty spot resistance at 6105-6115-6140-6165-6205. Support at 6060-6045-6030-6000-5985-5960 - www.niftypower.com

Visit here for Nifty Intraday tips.

19 Oct: Nifty View

In yesterday's Nifty View, it was written that "... While a short trade may be fruitful below 6025 levels, we will not advise it purely on the basis of Risk : Reward...". Well, a short trade did prove useful in the first half, but as advised, we also did not take it as Risk:Reward did not favour it.It was also given that ".... After two days of straight line declines, we expect to see Nifty give an opportunity for both Long and Short trades tomorrow...". Well, anyone who followed the market, can see the decline in the first half and then the recovery of all the losses in the second half.

You don't need any great Technical Analysis skills to make profits in this market. All that is needed is common sense. Just do all the buying and selling at the supports and resistance levels only, be quick to identify when a support has been broken and becomes a resistance and that's it. Most of the time, you will be on the right side of the market. Take an example of today's levels. Today's resistance points were 6060-6085-6130 etc. Supports were 6030-6000-5985 etc. If you see the chart of Nifty, it broke the first support of 6030 (first time we went long at this level - a Mistake that cost us 20 points!) in morning trades, and went till our third support of 5985, bounced back, and kept hovering between 5985 to 6000 for rest of the morning. It tested the support of 5985 3-4 times, then broke 6000 and went to test 6030, fell sharply again to 6000 (This was the point where we went long for a cool gain of 60+ points!!), and then went to break 6030 to test higher resistance at 6060 and then 6085/6090 as given in the Daily View. It reacted at each and every level.



Now for today, the leading indicators have turned from Oversold status and are giving a Buy signal. But the prices have to confirm the upmove by moving above 6105 first and then conquering 6140/6165. For a positional trade, we would advise to sit out and watch the whole day and then take a Long/ Short trade based on whether Nifty is able to close above 6140/6165 today or not. For intraday traders, watch the action near 6100/6105 levels in morning trades. If Nifty manages to hold 6100, it will move higher to test 6140 where again it will face some selling pressure. On the downside, support now comes at 6045-6030 levels. Till it remains above 6030 now, momentum will remain with the Bulls. Below 6030, it may revisit 6000-5985 zone. A knock on 5985 once again would most likely break it for lower levels.

19 Oct: Nifty spot resistance at 6105-6115-6140-6165-6205. Support at 6060-6045-6030-6000-5985-5960 - www.niftypower.com

Visit here for Nifty Intraday tips

18 Oct: Nifty View

First of all, My apologies to all blog readers for the inconsistency in updating the Nifty View on a Daily Basis. Have been very busy lately. However, going forward, I will make it a point to update the blog on a regular basis.

In the past few days, nifty gave some very volatile moves, first giving a false breakout above 6220 Spot and then reaching nearly the all time highs. Since then, it has fallen in a straight line and given a breakdown on the lower side. Will it be a genuine one or a false breakdown again?? That is the big question.

The very short term indicators are reaching oversold state in the Nifty. Options data indicates support near 6000 levels. Beyond that also, good support exists for Nifty spot at 5980-5960-5930 levels. Hence, shorting for a positional trade looks risky at this stage. This does not mean that one should go and create Longs here. If you are already not in a short position, either stay aside or try your hand in Long trades for intraday only at supports.6030-6010 spot can be the stoploss for longs. For a positional long trade, we have to wait and let Nifty show some strength.

For the day, watch the action near 6035-6025 levels. One can try an aggressive long trade near these levels if Nifty opens down and slides further till here. Be quick to book profits near the resistances. On the upside, Nifty will face resistance near 6085-6090. Breakout above 6085-6090, it will again target 6120-6130 levels where again some selling can be seen. While a short trade may be fruitful below 6025 levels, we will not advise it purely on the basis of Risk : Reward. Shorts should be taken only at higher levels near resistance points. After two days of straight line declines, we expect to see Nifty give an opportunity for both Long and Short trades tomorrow. Let's see what is has in Store for us!

18 Oct: Nifty spot resistance at 6060-6085-6130-6150-6180. Support at 6030-6000-5985-5960-5930-5910 - www.niftypower.com

Visit here for Free nifty tips