1 April: Nifty View

Nifty ends in the positive for the eighth straight day, expiring above 5800. In the process, it has covered 500+ points from the recent lows around 5350. Does it have steam left for more? Only time will tell. Right now, most of the indicators are trading at overbought zone or entering overbought zone. A correction/ consolidation is due. But how and when it will come is anybody's guess. For the time being, it is better to just trade for the day and avoid carrying any positions home, till the Risk:Reward becomes more favorable.

The Options OI table is given below:

Compared to last months table, where the Bulls went on a rampage in the final days to expiry, this month's table is still subdued. The message from this table is clear - The Bears are not writing too much calls as they realize that the trend is up. The Bulls on the other hand are slow at the moment, because they know that a correction is due. On any downmove from here, these Bulls would rush to write the Puts. What level they choose to add highest OI at, will define the range for this month. As of now, 5800+ seems to be minor resistance area, and 5600 and below the support zones. 5700 is the neutral zone. A correction towards 5700-5740 should be considered normal from here.

For tomorrow, immediate resistance for Nifty Spot comes 5840-5845 zone. Trading above this, trend of the day would remain positive, and Nifty can test 5865-5885 and higher levels. On the downside, support for Nifty spot comes at 5820 levels, below which, it will again test 5800-5780 and lower levels. As stated above, a correction till 5700 levels should be considered normal for this uptrend. How we react at lower levels, would give further clues to the strength of this uptrend.

1 April - Nifty spot resistance at 5845-5865-5885-5900. Support at 5820-5800-5780-5765 - www.niftypower.com

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29 March: Nifty View

Today, Nifty Future opened at 5670, made a low of 5663, made a high of 5729, before closing at 5704. Today's consolidation was healthy and expected after the steep upmove of Friday. Now, next breakout for Nifty will come only on a comfortable close above its 200DMA. Nifty is reaching overbought levels in all time frames now. Hence, expect more consolidation/ fall before further rises above its 200 DMA. The magnitude and the quality of the impending fall will give further clues about the next major move in Nifty. Till then, it is a patient wait for positional traders.

The Options OI table is given below:

We saw big addition by the Bulls at 5700 PE and 5600 PE strikes. once again, so much of overconfidence from the Bulls so near the Expiry is not healthy. The risk:reward is definitely not in favour of such big additions in Puts. On any fall below 5600 before expiry, these Bulls can panic leading to sharp falls in the Nifty. On the other hand, the Bears have expectedly covered their calls, and added small quantity at 5800 and above levels. These would be covered if Nifty closes above 200 DMA.

For tomorrow, immediate resistance for Nifty Future comes at 5725-5730 levels. This is also the VAH for tomorrow. Above these, Nifty Future will target next resistance zone 5745/5750. Above 5750, we may see swift upmove towards 5770/5800 levels. On the downside, support for Nifty Future comes at 5680 levels. Below this, it will slide towards 5660-5640 and 5615 levels. Below 5615/5610, we will see panic from the Bulls.

29 March: Nifty Future resistance at 5725-5750-5770-5800. Support at 5680-5660-5640-5615 - www.niftypower.com

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28 March: Nifty View

On Friday, Nifty Future opened gap up above its strong resistance point of 5555, moved up with low volatility above 5600, broke its previous Swing High of 5611 and then gathered momentum to make a high of 5693, before finally closing at 5674. People have started turning Bullish now. We, at NiftyPower, have already booked our Positional longs taken above 5450 on Wednesday. Now, we are watching for a confirmation of the trend up, before taking a new position.

The Options OI table is given below:

The OI table shows exactly what has happened in the market over the past three days. There was Huge covering by the Bears, at 5500 CE and 5600 CE strikes. On the other hand, the Bulls added Big OI at 5600 PE and 5700 PE strikes. While, this is definitely very Bullish, such huge addition by Bulls so near the expiry has to be watched with caution. Because on any downside movement below 5600/5570 on Nifty future now, can lead this Bulls to cover in a hurry, bringing sharp declines in Nifty. 5550, the earlier strong resistance, can now be taken as a reasonable stoploss for those holding positional longs.

For tomorrow, immediate resistance for Nifty future comes at 5695-5705 levels, trading above which it will target 5720 and 5750. Above 5750, we will see further short covering towards 5770-5800 levels. On the downside, immediate support for Nifty Future comes at 5640/5635 levels. Below 5635, it will slide down towards 5615 and 5590 levels. Below 5590, supports exist at 5570 and 5555 levels. Trade the broad range of 5550 to 5750 till we get the next breakout on Nifty future.

28 march: Nifty Future resistance at 5705-5720-5750-5775. Support at 5640-5615-5590-5570 - www.niftypower.com

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25 March: Nifty View

Nifty future continued its upward momentum today, closing right at important resistance zone of 5550-5560. It is still within its trading range, and it is time to be cautious. Till it does not give a comfortable close above 5600-5610, be cautious at the top and bottom of the trading range. No trader wants to be caught in a wrong trade at the very top or bottom. hence, it will be wise to book some profits in longs at this juncture and re-enter if Nifty Future is able to comfortably close above 5610.

The Options OI table is given below:


The Options table was dominated by the Bulls today. Big addition was seen in 5500 PE and 5600 PE strikes. At the same time, the Bears also covered big quantity in Calls at all levels. 5500 is the new battlezone with a Positive Bias, while 5600 and above are still the resistances. We will give less importance to this data from tomorrow, as the Expiry is so near. Any big addition in OI from now on should be eyed with suspicion. Because of the recent addition, a move below 5475 in Nifty Future can now lead to the 5500 PE writers to panic. Hence, those who wish to hold longs can keep a stoploss near these levels now.

For tomorrow, immediate resistance for Nifty Future comes at 5550-5555 level. Above this, next important resistance zone is at 5575-5580, above which, Nifty future will try to break out of the range and try to conquer 5610. Expect some selling from higher levels tomorrow. On the downside, immediate support for Nifty Future comes 5525-5520 levels, below which, it will test 5505-5480/5475 levels. Below 5475, we will see some panic which can take Nifty future back to test 5450-5415 levels.

25 March: Nifty future resistance at 5555-5580-5610-5650. Support at 5520-5505-5475-5450 - www.niftypower.com

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23 March: Nifty View

In yesterday's Nifty View, it was given that ".. immediate resistance for Nifty Future comes at 5410-5415 levels. Above this, it will target today's VAH of 5425-5430. If manages to cross and sustain 5430, we will see some quick movement towards higher levels of 5450/5480/5500..". Nifty Future opened right at resistance level, made high of 5409 in opening, and made a low of 5387. Thereafter, it crossed its resistance zone to make a high at 5448.

On the Options front, we saw profit booking at almost all the strikes, except for 5400 PE, where there was good addition of 9 lacs+ OI. The Options table is given below:

5400 is the current battlezone between the Bulls and the Bears, with a slight positive bias. 5500 and above are the resistances while 5300 and below are the supports. Looking at the Options data, Nifty's range for this expiry seems to be 5350 to 5500/5530.

For tomorrow, immediate resistance for Nifty future comes in at 5450-5455 levels. If it sustains above this, it would test higher level resistances of 5475-5500. With the high open interest at 5500 CE, crossing and sustaining above this would be difficult for at the moment, and we will see sellers emerge near these levels. On the downside, immediate support for Nifty Future comes at 5420-5415 levels. Below this, next targets would be today's low of 5385/5390 and then 5370-5350. Below 5350, there would be panic selling in the market as the 5400 PE writers will be forced to cover.

23 Mar: Nifty future resistance at 5450-5475-5500-5530. Support at 5415-5390-5370-5350 - www/niftypower.com

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22 March: Nifty View

Nifty has given its second consecutive close below 5400 today. The downward momentum did not come below 5400, as expected. Probably, tomorrow may be the last chance for the Bulls to stage a recovery above 5400 now. Otherwise, the market should start falling under its own weight now.

The Options OI table is given below:

5400 is clearly the battlezone at the moment. Most of the OI increase happened at this level. The PE's still outnumber the CE's as of now. Soon, this level should resolve itself and give clues to further direction. 5500 and above is the resistance, while 5300 and below are the supports.

For tomorrow, immediate resistance for Nifty Future comes at 5410-5415 levels. Above this, it will target today's VAH of 5425-5430. If manages to cross and sustain 5430, we will see some quick movement towards higher levels of 5450/5480/5500. On the downside, support for Nifty Future comes at 5350-5360 levels. Break of 5350 would force the 5400 PE writers to cover, which will take Nifty to 5330-5300- levels.

22 Mar: Nifty future resistance at 5410-5425-5450-5480. Support at 5360-5330-5300-5270 - www.niftypower.com

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18 March: Nifty View

Nifty Future today traded rangebound before the RBI policy announcement, making a high just near yesterday's close. Once the RBI news was out, it went for a steady slide the entire day, closing right at its important support of 5475-5480. This level should play a pivotal rolefor its movement tomorrow.

The Options OI table is given below:The Bulls covered big at 5400 PE and 5500 PE, while the Bears added good amount of 5500 CE. OI was also added at higher strikes of 5600 and higher Calls. 5500, which was the battleground level till now, now looks tilted in favor of the Bears. Tomorrow's action should confirm the direction now. 5550 now becomes the important level to watch if this market wants to go higher. On the downside, 5400-5370 is still the support zone, below which we can expect a minimum of 100 point slide in Nifty.

For tomorrow,immediate resistance for Nifty Future comes 5500-5505 level, above which it will again test today's high of 5525-5530 level. Above 5530, lies the all important resistance of 5550-5555, where scalp traders can sell with a stop and reverse trade above 5555. On the downside, immediate support for Nifty Future comes at 5450-5455 levels. If Nifty Future trades below 5450, expect 5430-5400 levels on the downside. Till it trades between 5370 to 5550, trade the ranges with small targets. Once we get a breakout from this range, large positional trades can be taken.

18 March: Nifty Future resistance at 5505-5525-5550-5605. Support at 5450-5430-5400-5370 - www.niftypower.com

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17 March: Nifty View

In Yesterday's Nifty View, the immediate resistance for Nifty Future was given as 5575-5585. Nifty future made a low of 5577, touched an intraday high of 5553 and closed at 5529. It found at the closing level of 14 March, after which we had that big gap down. This zone of 5550-5560 would be important for further upmove. Staying above this zone would be a first sign for retest of the 200 DMA for Nifty Future.

The Options table for today is given below:

5400 PE has the highest OI, with more that 1 Cr. open positions. Next is 5300 PE. Overall, the Options table has told the same story for more than a week now. Nifty has also moved in line with the picture presented in the Options table. 5500 is the battlezone. 5400 and below are the supports. 5600 and above are the resistances. 5375 to 5615 is the trading range.

For tomorrow, immediate resistance for Nifty Future comes at 5550-5560 zone. Crossing and staying above this, it will target next resistance of 5580-5590 and then 5615, where again it will face stiff selling pressure. However, if it is able to cross 5615, be ready for some wild moves. On the downside, immediate support for Nifty Future comes at 5505-5495 level. Below 5495, Nifty future will target 5475, 5445 and 5430 levels.

17 March: Nifty Future resistance at 5560-5585-5615-5635. Support at 5500-5475-5445-5430 - www.niftypower.com

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16 March: Nifty View

We have had some tragic events in Japan, the repercussions of which, are yet to be seen. This sort of News puts all kind of traders at the same level. This is because the News is actually News to Everyone, whether big Fund Managers, Insiders or the Retailers. These are unusual times, and normal market activity should not be expected during unusual times. The Prudent thing to at this time is properly reduce the trading volumes, to limit the risk that one has at any point in such a market.

As market by the rectangle in the chart above, Nifty has broadly been trading in a range of 5400 to 5600. This range is also suggested by the Options table given below:
Lots of Puts were covered today, while the calls did not that much. This can be attributed to the high volatility amid news flow, which is keeping the Option writers a bit muted in action. 5500 is still the battlezone for the Bulls and the Bears, although with a slight negative bias. 5400 and below are the strong supports, while 5600 and above are the resistances.

For tomorrow, immediate resistance for Nifty Future comes at 5475-5485 zone. Above this, it will again target today's highs of 5505-5520 levels. Staying above 5520 for few minutes can trigger a fresh round of short covering, which can take Nifty future to the upper end of the trading range. On the downside, support for Nifty Future comes at 5440-5435 level. If moves below this, Nifty future will target 5415/5405 and 5375 levels. Below 5375, it may lead to panic among the 5400 PE writers, and some serious slide may start. Note that even in case of a Gap Up or Gap down above/ below these level, keep in mind the numbers for your trading.

16 Mar: Nifty Future resistance at 5480-5505-5520-5560. Support at 5440-5415-5405-5375 - www.niftypower.com

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Reaction to the News is more important

May GOD help the Japanese to overcome the tragedy that has struck them.

There will be no Nifty Views for today. For traders who wish to trade today, remember that in markets, the News is not important. It is the reaction of the market to the News that is more important. So, sit back and watch how the market is taking in this extremely Sad News. Only then, Plan Your Trades.

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Subscribe for any of our Packages on a Monthly Basis and we will give you 1 Month of Free Service for Nifty Futures Positional package. This Package was introduced in the month of February, and in its very first month, we have managed more than 450 points/lot in this package.

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10 March: Nifty View

The levels given in yesterday's post worked out pretty well. The resistance for Nifty Future was given at 5570-5580. It opened near those levels and started declining straight away. 5475/5480 was indicated as a good support. It made a low at 5477 and then again climbed back up to test the upper resistance of 5570-5580 before finally settling at 5532. Nifty continued to trade within its rage. The important levels to watch out remains the same as yesterday.

The Options OI table is given below:

After two days of unwinding in 5600 CE, the Bears have started adding again. 5600 CE witnessed an OI increase of nearly 8 lacs, while there was small unwinding of 5400 PE and 5300 PE. The options table remains the same as tomorrow, with 5500 being the battle zone between the Bulls and the Bears. 5600 and above is the resistance, while 5400 and below are the supports. 5380 to 5610 is the range which is indicated by the options table. Only aa move past these levels will give a sizeable in the Nifty.

For tomorrow, immediate resistance for Nifty Future comes at 5570-5575 levels, above which, it will target recent highs of 5605-5610 levels. moving above 5610, the next for Nifty would be its 200 DMA. On the downside, immediate support for Nifty Future comes at 5515-5505 levels, below which, it will target 5490-5475 levels. Below 5475, the targets would be 5445 and 5425.

10 Mar: Nifty future resustance at 5575-5605-5630-5660. Support at 5510-5490-5475-5445 - www.niftypower.com

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9 March: Nifty View

Nifty opened at nearly the same levels as yesterday, took off immediately for upsides and then consolidated all day at higher levels. It is moving in a broad range of 5380 to 5605, and only a breakout from this range will give the next sizeable move.

The Options OI table is given below:

Yesterday, there was some surprising covering of 5600 CE. Today, that was validated by the movement of Nifty Future and we saw some more covering at 5600 CE. However, not much addition is seen at 5600 PE. This level still remains a resistance, although a bit weaker one. On the downside, Bulls added big quantity at 5400 PE and this is a clear support for this series now. 5500 is still the battlezone, which should be decided in the coming days.

For tomorrow, immediate strong resistance for Nifty Future comes at 5570-5580 level. If it crosses and sustains above this level, we might see quick short covering upto 5605-5630-5665 levels. On the downside, immediate support for Nifty Future now comes at 5495-5500 levels. Sustaining below this, Nifty will decline towards 5480/5475 which is again a good support. Below 5475, next targets would be 5445, 5425 and below.

9 Mar: Nifty Future Resistance at 5575-5605-5630-5665. Support at 5495-5480-5445-5425 - www.niftypower.com

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8 March: Nifty View

In Yesterday's Nifty View, it was given that "It is very much possible that the post budget rally might have ended. A close below 5400 would confirm it. Till then, consider the short term trend to be up ". Nifty did look like breaking down in the morning trades, however, it took support at 5400 level and closed midway at 5466. The levels and Options data point to exactly the same range as yesterday.

The Options OI table is given below:

The only surprise in the Options table is the huge covering of 5600 CE by the Bears. 5500 still remains the battlezone with a slight advantage to the Bears. However, that can change quickly in intraday. 5400 and below are the supports, with 5400 PE having the highers open interest. 5600 and above ramin the resistances, inspite of the big covering seen at 5600 CE. The range for Nifty still stands at 5400-5380 to 5605-5630 Spot. Breakout from this range should give the next sizeable move. Till Nifty stays below 5630 level, we will be biased for a downside break now.

For tomorrow, imemdiate support for Nifty Future comes at 5440-5435 levels. Below this, we would see it testing todays low again and slide further towards 5390-5350 levels. On the upside, immediate resistance for Nifty Future comes at today's opening level of 5500 and 5520 above that. If manages to cross 5500, it would target higher levels of 5550-5580 and 5605 levels.

8 Mar: Nifty Future resistance at 5500-5520-5550-5580. Support at 5440-5425-5390-5365 - www.niftypower.com

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March 7: Nifty View

On Friday, In spite of good global cues, Nifty failed to conquer 5600 level. The fresh trigger to make it jump over the 200 DMA is missing, with negative news filtering in every other day. It is very much possible that the post budget rally might have ended. A close below 5400 would confirm it. Till then, consider the short term trend to be up. 5400 - 5650 is the narrow trading range for Nifty as of now.

The Options table is given below:

From the options table, 5600 CE has the highest OI. This is expected and furhers the importance of 5630-6650 level. This would be a huge level to cross and sustain for the Bulls. 5630 gave solid support to Nifty on the way down. Now, that same level would act as a tough resistance. 5500 is the current battlezone between the Bulls and the Bears, while 5400 and below are the supports. A fall below 5470 Spot would give the Bears an upper hand, and we will see more addition at 5500 CE.

For today, immediate support for Nifty spot comes at 5505-5510 levels. Below this, Nifty will slide towards 5475-5455 and below levels. Till the time it stays below 5475-5470 levels, Bears will have control of the market and Longs should be avoided. On the upside, the resistance for Nifty spot comes at 5550-5555 levels. Above this, it will head towards 5580-5600 and 5635 levels, where again, it will face selling pressure.

7 Mar: Nifty spot resistance at 5555-5585-5610-5635. Support at 5505-5475-5455-5420 - www.niftypower.com

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3 March: Nifty View

Nifty gave a stupendous rally on Tuesday, making up for all the Lost gains of Budget and much more. It stopped just short of tough resistance zones of 5550-5560, and looking at the world markets, it seems we might have to wait a little longer before this level is taken out. However, it did cross some important levels on the way up, and it would be interesting to see how it reacts at these levels on its way down. Whatever happens, it would be interesting times for Positional and Intraday traders both, in the coming weeks, as the market would throw several opportunities to trade.

The Options OI table is given below:

Bulls did go on a rampage, writing big number of Calls at 5300, 5400 and 5500 levels. 5300 seems to be the for this market now, up from 5200 of last series. Any close below 5300 would create panic now, and fresh positional shorts should be taken only if this levels breaks. The Bears, on the other hand, are slowly building resistances at 5600 and above, hoping to keep Nifty below its 200 DMA for now.

For tomorrow, immediate resistance for Nifty spot comes at 5555-5565 levels. Only on sustaining above these, Nifty would attempt 5600 and 5640 levels. Immediate support now comes at 5490-5480 levels. If these break, it would further fall till 5445-5420 and lower levels. As given in previous post also, as market volatility is good, buying/selling after the breakout/ breakdown would fetch better trades as compared to Buying/ Selling at Supports/ Resistances.

3 Mar: Nifty spot resistance 5560-5600-5625-5660. Support at 5505-5480-5445-5420 - www.niftypower.com

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