31 Jan: Nifty View

As if the drubbing by the Bears was not enough for the Nifty, Global Cues also have started deteriorating now. Surely, the Bulls have some sleepless nights coming for them. We would not like to trade our markets after seeing the Global markets (unless the News becomes too Big to swallow, of course!), however, it is definitely not the time to be adventurous.

Nifty, after breaking its 200 DMA, is now set to test the breakout levels of September, 2010. If these levels also give way, it would make sense to stay out of Buying Mode till we get a confirmed reversal again. It is trading at oversold levels. If this fall has to halt, it should Halt before 5350 is breached on Nifty Spot. Otherwise, we will brace ourselves for more falls.

The Options Open Interest Table is given below. The high OI in Puts of 5500 and below indicate support for the Bulls below 5500 levels. 5600 is the new battle zone, 5700 being won by the Bears. Hence, 5630-5660 can be considered to be stiff resistance, if Nifty want to move up from here. On the downside, supports can be 5480-5460 levels. Break from this range will give further cues.

For tomorrow, intraday watch the levels of 5545 on upside and 5500 on downside on Nifty Spot. Break on either side of these levels can give good momentum trades of 30-40 points or more. Upside resistances are places at 5575-5590-5615. Supports on the downside are at 5480-5460 levels. If Nifty opens Gap Down or Gap Up beyond these levels, then traders can look for the break direction of first hour range to determine the trade direction.

31 Jan: Nifty Spot resistance at 5545-5575-5590-5615. Support at 5500-5480-5460-5400 - www.niftypower.com

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28 Jan: Nifty View

5730 did the trick again. Nifty opened right at this resistance zone and started falling right away. It kept correcting for entire day, never giving a chance for the Bulls to show any strength. The January expiry happened at the lowest level of the series. Historically, January closings have been important for the market. Hence, it will be very interesting to watch where the market goes from here.

The Options OI data show that the Bulls have added Puts at 5600, 5500 and 5400 strikes. It is still too early to deduct anything from the OI, but one thing that comes out clearly from it is the battle zone at 5700. It has almost equal Open Interest at this stage. Puts have more OI 5700 strike, and Calls have more OI above 5700 strikes. The activity at 5700 strike in coming days will give more indication of the coming movement in Nifty.

For tomorrow, immediate resistance for Nifty Spot now comes at 5630-5635 levels. Sustaining above 5635, Nifty would try to attempt 5655-5660 and 5690 levels. On the downside, support for Nifty Spot comes at 5585 levels, below which, strong support comes at 5550-5530 levels. Nifty is at an oversold level and a bounceback towards 5650 levels cannot be ruled out. But this market will continue to be a Sell on Rises kind of market, till it closes at least above today's high of 5725-5730 now.

28 Jan: Nifty spot resistance at 5630-5655-5690-5705. Support at 5600-5585-5550-5530 - www.niftypower.com

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27 Jan: Nifty View - Expiry Day

It is Expiry Day. There has been enough drama already in this series already. A finish above 5800, or below 5600 would be apt for the climax! While there are slim chances of this actually happening, but this series has been anything but predictable. Hence, an expiry at or near 5700 levels (to which the data is pointing), would not be an apt ending for this series. Lets see whats in store for us.

For tomorrow, resistance for Nifty Spot comes at 5710 levels, above which, it will again try to attempt 5730-5750 levels. Above 5750, the game for 5800+ will be On. On the downside, support for Nifty Spot comes at 5670-5665 levels. If this level breaks, next support comes at 5635 levels, below which, the game for 5600 and below will be On. Traders can try for a straddle of 5700 PE and 5700 CE, if they get it at a premium of less than Rs. 20. That would be a low risk, and a high reward gamble on Expiry Day.

27 Jan: Nifty spot resistance at 5710-5730-5750-5790. Support at 5675-5660-5635-5605 - www.niftypower.com

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Happy Republic Day to All - Vande Matram

25 Jan: Nifty View

Nifty made a smart move on Monday and gave an intra breakout above 5745, reaching its next resistance of 5760. However, it could not sustain above 5745, and once it slipped below it, struggled to cross 5745 again. On the downside, it took good support at 5720 levels.

The Options OI data show addition of Puts at 5700 PE and 5800 PE strikes. Addition of OI so near to the expiry is always a worrying factor. Those who are writing these options at this stage, they are either a very confident lot or absolutely crazy. Only time will tell.

Now that Nifty has crossed and closed above 5730, Bulls will have some hope of the downtrend being over. There is still stiff resistance to be crossed at 5760-5765. If Nifty manages to stay above 5765, it will move higher towards 5790-5830 levels, where once again it will face stiff resistance and selling pressure. On the downside, strong support for Nifty spot now comes at 5715. Break of this level would lead Nifty test 5695 again, which is a strong support. Break of this would further lead to downside movement towards 5660-5635 levels.

25 Jan: Nifty spot resistance at 5745-5765-5790-5830. Support at 5730-5715-5695-5665 - www.niftypower.com

Nifty Future Tips
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Nifty Levels

Introducing Three New Packages In NiftyPower

NiftyPower has been successfully running its Nifty Future and Options Tips service for the past two years. Over a period of time, we built a system of trading, that was most suitable for our type of trading. This system was based on partial booking of profits. These system required traders to trade n multiple lots, and actively manage positions once a position moved in our favor. Also, since in these packages, we have a fixed system of trailing stoploss and booking profits, our members knew exactly where to book profits and when to exit, before entering the call. This made them less dependent on us, during the market hours. Our Money Management Strategy for the existing packages can be read by clicking here.

While the above systems and packages have served us very well, over the years we have got a lot of feedback from new and old entrants into the market, that they are not comfortable with multiple target calls. A lot of people asked us to provide single target calls. Also, a lot of members asked us to provide Positional Nifty Calls instead of Intraday Call as they were not able to actively trade in the market during the day due to various commitments like Job, Family etc. Further, some clients also asked us to develop System for Stock Future and Options and also for Option Selling Calls.

Based on the above feedbacks, we have taken one small step forward to address the concerns of some of our clients. This has led to the introduction of three new packages in addition to the existing packages of NiftyPower. These packages are:
1. Nifty Futures Single Target
2. Nifty Options Single Target
3. Nifty Futures Positional
For more details on these packages, click on the respective packages.

As with our earlier services, all these packages come with a performance Guarantee. The Performance Guarantee means that the membership of a subscriber will continue till the time he earns minimum the Guaranteed Points/Lot of that particular Package. If the Guaranteed Points/Lot are achieved before 1 month, the membership will continue for 1 month. If, however, we are not able to achieve a profit of Guaranteed Points in 1 month, then the membership will be extended till the time Subscriber earns that many points.

The charges of these packages are a little higher than our existing packages. However, when compared with the profits earned with the Performance Guarantee, then the charges are less than 15% of the profit earned. This is in line with our existing packages.

In case you have any other queries on any of these new packages, you can ask them via email to power.nifty@yahoo.in OR Help@niftypower.com.

Happy Trading!

Nifty Options Tips
Nifty Future Tips

21 Jan: Nifty View

In yesterday's Nifty View, it was given that "... On the downside, watch the level of 5660. Below this, Nifty will revisit 5635-5610 levels.." Nifty made exact low at 5634 after breaking 5660. On the upside, resistance was given to be at 5730-5735. Nifty made exact high at 5729, after taking support at 5634. Once again the levels worked. But rather than blindly going Long or Short above/ below a certain level, it is more important for traders to see what Nifty is doing at a particular level. We saw Nifty taking support at 5635-5640 levels, which it confirmed by moving past 5655. It is here, that we at NiftyPower went long for some quick and good gains of 50+ points.

The important levels for Nifty remains the same, 5635-5625 on the downside and 5750-5760 on the upside. Traders may trade this range for now, till we get a breakout/ breakdown. The Options OI data also, does not have anything new to offer. The data shows profit booking at all strikes of Calls and Puts, which is expected near the expiry. The support for now is 5600, while 5800 is a minor resistance. Since, the difference in OI of Call and Put at 5800 is not too great, any move past 5750 on Nifty will take it swiftly towards 5800 and above.

For tomorrow, intraday traders watch the levels of 5745-5750 on the Nifty Spot. If Nifty manages to trade above this level, it will head higher towards 5790-5830 and higher levels. On the downside, support for Nifty spot comes at 5680 levels. If 5680 breaks, Nifty will again slide towards 5660-5635 levels. Break of 5635 will be Bearish and may lead to panic selling.

21 Jan - Nifty spot resistance at 5730-5745-5770-5790-5830. Support at 5680-5660-5635-5620-5580 - www.niftypower.com

Nifty Trading Tips

20 Jan: Nifty View

In Yesterday's Nifty View, the resistance given for upside was 5750-5760. Nifty made exact high at 5747. On the downside, Support given was 5690, below which 5660-5635 were the targets. nifty made exact low of 5662 below 5690 Spot. The levels worked again.

Nifty could not capitalize on gains made yesterday and closed down again below 5700 today. This is definitely not a good sign for the Bulls. However, it did maintain its support of 5660-5635, which will keep giving hope to the Bulls. Below 5635, another 100 points can come quickly on the downside. On the other hand, today's high of 5745-5750 becomes important now. Since Nifty closed in red, this is the Swing High for now. If Nifty manages to trade above this, it will again become Bullish in short term with targets of 5830-5880 and above.

For tomorrow, Intraday traders watch the level of 5730-5735 on the upside. Above this, Nifty will again try to conquer its resistance zone of 5750-5760. Trading above 5760 for sometime can lead to panic short covering from the Bears right till 5830 and above. On the downside, wath the level of 5660. Below this, Nifty will revisit 5635-5610 levels. Staying below 5635 would open up lower targets of 5550 and below.

20 Jan: Nifty Spot resistance at 5730-5750-5790-5830. Support at 5660-5635-5610-5555 - www.niftypower.com

Nifty Future Tips
Nifty Option Tips

19 Jan: Nifty View

In Yesterday's Nifty View, it was given that "... an upside break above 5695 can show 5730-5750 levels..". Nifty gave the opportunity to go long twice, above 5695, both times achieving 5725+ levels. At NiftyPower also, we took the same trade for good gains.

After breaking the support of 5700 with great effort, the Bears have conceded this level to the Bulls again. The Bulls will have hopes of recovery now. But it will be a laborious effort with strong resistances on the upside. The Options OI data show almost equal volumes of 60 lacs+ OI at 5700 CE and 5700 PE levels. This level can still be considered a 50:50 level for both the Bulls and the Bears.

For tomorrow, immediate resistance for Nifty spot comes at 5750-5760 levels. If Nifty is able to trade above these levels for sometime, it will head higher towards 5790-5830 levels, where again it is expected to face selling pressure. Trading above 5830 would make Nifty Bullish in the short term which can give another 100+ points on the upside. On the downside, support for Nifty now comes at 5690 levels, trading below which, it can revisit 5660-5635 levels. Overall, 5635 to 5835 can be considered as the broad trading range for the Nifty for now.Anyside breakout of this range will give fresh momentum for trading. Till then, trade this range.

19 Jan: Nifty spot resistance at 5750-5785-5800-5830. Support at 5705-5690-5660-5635 - www.niftypower.com

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18 Jan: Nifty View

After such volatile days, we finally had some sanity returning on Nifty. Rangebound days are frustrating for both the Bulls and the Bears. However, today's move would have been a welcome break for most of the traders. This is rightly depicted in the Volumes.

In yesterday's Nifty View, the supports were mentioned at 5630 and 5615, while the resistances mentioned were 5675 and 5700. Nifty's actual Low and High was 5624 and 5696 respectively. The options data show addition in OI at 5700 CE strike while reduction at 5700 PE to 6000 PE strike. However, we would not rely too much on the Options data at this stage. The addition in OI at this stage cannot be considered to be purely written options, as the volatility is too high. They can be part of Hedged Positions, Covered Calls, or simply Long Positions. Hence, we would not analyze the Options data in detail as of now.

For tomorrow, Intraday traders watch the action near 5630 Spot on the downside and 5695 on the upside. A downside break below 5630 can lead Nifty to 5605-5580 levels, while an upside break above 5695 can show 5730-5750 levels. Trade the range till we get a breakout/ breakdown.

18 Jan: Nifty spot resistance at 5695-5715-5740-5790. Support at 5630-5605-5585-5555 - www.niftypower.com

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17 Jan: Nifty View - Breakdown!

After being 4 times lucky at 5700, Nifty finally breaks it and close below it. However, the manner in which this level broke, was absolutely astonishing. Nifty first rallied more than 100+ points, at one point threatening a breakout on the upside, before making a dramatic U turn and falling more than 200 points from the highs. At such times, only a proper stoploss can save a trader from being wiped out. Hope our followers were safe . After taking longs at 5735 Spot, we had clearly advised a stoploss of 5790 Spot once Nifty reached levels of 5820+. Once it started taking resistance at the 5825-5830 zone, a fall was expected, but, to be honest, such magnitude was simply unprecedented!

Now that the level of 5700 has been broken, it is better to stay with the trend and avoid Long trades till Nifty gives us a close above this level again. If it does manage to close above 5700, we can again enter a rangebound trading environment. Bulls have hope only on a close above 5830 Spot as of today. Till it stays below 5700-5760 levels, this breakdown will be considered to be Valid and Short trades will better in terms of Risk: Reward.

For tomorrow, intraday traders watch the levels of 5630 and 5615 on the Nifty spot in morning trades. If Nifty opens or goes and stays below these levels, one can consider entering shorts for 5570-5550 kind of levels. On the upside, Nifty faces immediate resistance at 5675 and 5700 levels. If conquers them in morning trades, then it will try to move higher towards 5740 levels. As stated earlier, try to enter short trades at Resistance levels or on the break of supports till Nifty gives us a close above 5700 Spot.

17 Jan: Nifty spot resistance at 5675-5705-5745-5805. Support at 5630-5615-5575-5550 - www.niftypower.com

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13 Jan: Nifty View

What a comeback! These are extraordinary times for our market. The Nifty range of more than a 100 points is almost an everyday event nowadays. After the straight line fall, Nifty made a smart recovery today and how! After the bad IIP numbers, the Bears would have had some hope of breaking the formidable 5700 today. They almost succeeded in doing so. Well, Almost. Cause the Bulls decided to spoil the Bear Party and took Nifty up by nearly 150 points from the lows of the day.

Tomorrow will be a very crucial day for deciding the short term trend. Nifty is definitely not out of the woods yet, and if we do not see a follow up move tomorrow, then this bounce will be considered a technical bounce only. The Options OI data is on expected lines. The Bulls added Puts at 5700 PE and 5600 PE, while the Bears were forced to cover Calls at 5800 CE and 5900 CE. 5900 is the level, which the Bulls will be hopeful of conquering tomorrow. From the Options table, it is a 50:50 level as of now. The range for Nifty seems to be 5700 to 6000/ 6100 for the month of January.

For tomorrow, Intraday traders watch the level of 5900 on Nifty spot. Some aggressive shorts can be built near these levels with stoploss placed just above 5900 spot. Do not stay short above 5900 Spot. Above 5900, Nifty spot can target 5925-5950 and 5980 levels, where again some sellers are expected to show up. On the downside, support for the Nifty should come near 5825/5820 levels. Below these, Nifty may again show downward momentum towards 5790-5750 levels.

13 Jan: Nifty spot resistance at 5885-5900-5925-5945-5980. Support at 5825-5790-5760-5740 - www.niftypower.com

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11 Jan: Nifty View

The Bear attack is "ON" on the Nifty. In just last two days of trading, Nifty has wiped out nearly 300 points. Today, it came within striking distance of its monthly swing low near 5720 levels. How far more can it go? Nifty is trading at extremely oversold levels, and near important supports of 5720 to 5690. If a bounce has to come, it should come from these levels. Otherwise, brace yourselves for some more fall.

The Options data is for today is on expected lines with the Bulls finally starting to cover Puts at 6000 and 5900 strikes. However, the data also show addition of Puts at 5800 and 5700 strikes. It seems that Bulls are still confident of saving 5700 and 5800 for now. Having said that, these can also be a part of covered calls. Hence, it is better to look at other indicators and price action to confirm the support rather than only going by this data. As for the Bears, they are writing away calls with confidence as of now. The data shows huge amount of 30 lacs+ Call addition at 5800 CE, 20 lacs+ at 5900 CE and 10lacs+ each at 6000 CE and 5700 CE. From the Options data, a little over 5900 (5950-5960 max.) seems to be the ceiling for the Nifty in case of any bounceback.

For tomorrow, intraday traders look for a Long opportunity near 5725-5740 Nifty spot range. If Nifty is able to hold these levels, we may see a decent bounceback to correct the oversold levels. On the upside, initial resistance for Nifty spot comes at 5785-5790 levels. If it manages to clear these, it will lead to further short covering rally towards 5820-5845 and above. On the downside, break of 5725 will lead Nifty towards 5690, break of which can create further panic in the market and lead to another 100 point fall.

11 Jan: Nifty spot resistance at 5790-5820-5845-5890. Support at 5740-5725-5690-5650 - www.niftypower.com

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10 Jan: Nifty View - Downtrend?

From the past few days, we have been writing here that 5980 to 6125 is the trading range for Nifty and break on either side can give a sizeable move. Nifty took support at 5980 thrice on Friday and bounced off some twenty points, each time. However, once it broke it, there was relentless selling which saw the Nifty tanking nearly 100 points from 5980.

The trend has turned down now with Nifty at highly oversold levels. We may see some short term bounce OR a pause to correct the oversold indicators. But this market will remain a Sell on Rise market for now. Only a close above 6060 and 6125 Spot will change the picture for now. Till then, it is better to get out of longs and be on the short side on any rise.

The Nifty Options OI data of Friday show the Bear Power. Have a look at the the number of Calls added at different strikes - 29 lacs+ at 6200 CE, 27 lacs+ at 6100 CE, 29 lacs+ at 6000 CE and 20 lacs+ at 5900 CE. In total, more than 1 Crore Calls added by the bears. 6200 is the strike which has highest OI in Calls, crossing 1 Crore on Friday. This will be Mountain to climb this month. For the Bulls, the only silver lining is that there is still high OI of 50 lacs+ at 6000 PE and 5900 PE levels. Hence, we can see some sort of bounce towards 5980 levels before further fall. The writers of Puts at 6000 PE and 5900 PE should cover on any bounce to confirm the downtrend.

For tomorrow, intraday traders watch the level of 5915/5925 on the upside.If Nifty spot manages to hold 5920 levels in the morning trades, it will try to move up further towards 5950-5980 levels, where once again it will meet with selling pressure. On the downside, 5860 Spot is where immediate support should come for Nifty. Break of this may lead to further selling and fast move towards 5825-5790 levels. Since all indicators are reaching oversold levels, hence traders may wait for some bounce to go short on the Nifty and avoid creating fresh shorts at lower levels.

10 Jan: Nifty spot resistance at 5920-5950-5980-6010. Support at 5880-5860-5825-5790 - www.niftypower.com

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7 Jan: Nifty View

In yesterday's Nifty View, it was given that "... On the downside, todays low near 6060 is important. If it breaks 6060, it will move down towards 6035-6020/6015 levels..". Nifty broke 6060 in the morning trades and then went on to make a low of 6022.

Nifty has closed in the Red from its opening levels on all days of this week. We expect some bounce to come today OR maximum by Monday. Hence, this is not the time to initiate fresh shorts.Instead, traders are advised to book some profits near 6020 levels and initiate fresh shorts only if Nifty gives a closing below 5980. As indicated in earlier posts as well, the trading range for Nifty for now is 5980 to 6180. Till it is within this band, trade the band and look for big moves only when it closes outside this band.

The Nifty options OI data indicate the Bears gaining upper hand at the 6100 level. 6110/6125 being the breakdown level as of now, this will offer stiff resistance for any upmove now. On the downside, the Bulls have still not given up hope on 6000 levels. It has added OI even on down days like today and yesterday. Hence, 5980 on the downside becomes a good support which the Bears will have to break. 5980 to 6110/6125 is the trading range as evident from the Options data as of now.

For today, intraday traders watch the action near 6060 levels on the upside and 6025 levels on Nifty Spot on the downside. Breakout above/ below these levels can give a minimum 20-30 point move on Nifty spot. However, as we are at the lower end of the trading band, we will not recommend any shorts for today. Traders look for going long near supports, probably near 6035-6025 levels and keep a stoploss below 6000 or 5980 Spot.

7 Jan: Nifty spot resistance at 6060-6075-6095-6120. Support at 6025-6005-5995-5980-5955 - www.niftypower.com

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6 Jan: Nifty View

In yesterday's Nifty View, it was given that intraday traders watch the level of 6125 closely and wait for 1-2 hrs. before taking a position. We told that if Nifty trades below 6125 after the initial hours, one can go short with stoploss above 6150 spot for a target of 6105 and 6070. Nifty made exact low at 6062. It was an easy trade for anyone who follows our levels.

The Nifty Options open interest data still show 6100 level as the battleground between the Bulls and the Bears with 30 lacs+ OI at 6100 CE and 6100 PE. 6000 and below is the support for now and 6200 and above is the resistance. Traders can trade this range (buying near 6000 and selling near 6200) till we see a more clear picture from the Options data.

For tomorrow, immediate resistance for Nifty spot comes at 6095/6100 levels, above which it will again try to conquer 6120/6125 levels. Above 6125, stiff resistance comes at 6150 and then at 6180 levels. On the downside, todays low near 6060 is important. If it breaks 6060, it will move down towards 6035-6020/6015 levels. The broad trading range for this market for now is 5980 to 6180. A breakout/ breakdown from this range will happen if Nifty manages to close outside this range. Till then, trade this range.

6 Jan: Nifty spot resistance at 6095-6115-6125-6145-6180. Support at 6060-6035-6015-6000-5980 - www.niftypower.com

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5 Jan: Nifty View

In Yesterday's Nifty View, it was given that "..below 6145/6150, Nifty will slide towards 6125-6105 levels...". Well, Nifty opened near 6175-6180 levels, took minor support at 6145/6150 and then broke it to make a low of 6124.4. Then it stages a fine recovery, conquering 6145/6150 to make a high of 6177 before finally settling at 6140 levels again. At NiftyPower, we went long near 6145 levels to book a gain of 30+ points in Nifty Futures and 14+ points in Nifty Options.

The Nifty Options OI data for today show some nervousness among the Bulls who covered some of the shorts built at 6100 PE and 6000 PE strikes. On the other hand, the Bears added OI at 6200 CE and 6300 CE strikes. The Options data suggest 6200 to be the resistance for now and 6000 to be the support. 6100 is the level at which the battle will be fought between the Bulls and the Bears for now.

For tomorrow, todays low of 6125 on Nifty Spot becomes important if Nifty has to resume its uptrend. Intraday traders can go long with stoploss at 6125/6120 spot after the initial 1-2 hrs. of trading. However, if Nifty spot breaks this level anytime during the day, it will correct further towards 6105-6070 and below levels. The stoploss for the shorts below 6125 should be placed above 6150 spot. We would prefer to watch the action for the initial 1-2 hrs. of trading before taking a position tomorrow, as it might be a short term trend deciding day.

5 Jan: Nifty spot resistance at 6145-6175-6200-6220. Support at 6125-6105-6085-6070 - www.niftypower.com

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4 Jan: NiftyView

Nifty starts the New Year with a Bang! It gapped up above its resistance zone of 6145-6150 and then took support exactly within this zone on intraday corrections. These levels will be crucial if Nifty has to make new highs again. Forget them for now, But if and when Nifty conquers the 6200 level, these levels will be important in case of corrections.

The options OI data show the restlessness of the Bulls to quickly take this market up. They have already piled up big OI in excess of 50 lacs+ at Puts of 5800, 5900 and 6000 levels. 6100 PE and 6200 PE is also quickly catching up with additions of 5 lacs+ and 9 lacs+ at these two strikes today itself. On the other hand, the Bears seems to be taking it slow. The only immediate strikes where they are showing some conviction are 6200 CE and 6300 CE. As of now, 6200 and 6300 seems to be the resistances while 6100 and below seem to be the support zone for the Nifty. The coming days will give more clarity on the intentions of the writers.

For tomorrow, immediate resistance for Nifty Spot comes at 6165/6170 levels above which, it should target 6190-6210 levels. On the downside, support comes in at 6145/6150 levels below which, Nifty will slide towards 6125-6105 levels. Considering that Nifty is still hovering in overbought zones, we would be more comfortable in going Long if Nifty gives a Dip towards the Support levels. Whether that Dip comes by breaking the immediate Support levels mentioned above or by first reaching the immediate resistance zone mentioned above and then falling, is what we will watch out for tomorrow.

4 Jan: Nifty spot resistance at 6165-6175-6195-6210. Support at 6140-6125-6105-6070 - www.niftypower.com

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Wish You and Your Dear Ones a Very Happy 2011