29 mar - Nifty View

On Wednesday, it was another day when Nifty threatened to break the 200 DMA support, but managed to save it and closed above it. Thursday is Expiry day. A close below the 200 DMA will change the medium/ long term trend to negative. Short term trend is anyway negative. On the upside, if it moves up and manages to close above 5290 now, the short term bias will change to UP. Till then, trading is going to be choppy within this 150 point range.

The Nifty option OI Charts are given below:

One day before the expiry, not much addition in OI should be expected. That was the case on Wednesday. On a down day, the Bulls mainly covered their positions at 5200 CE to 5400 CE strikes, reducing the open interest by 31 lacs+. On the other hand, the Bulls did nothing much except for addition of a big 13 lacs+ OI at 5300 CE strike. Overall, on Expiry day, 5200 is going to be the battleground level between the Bulls and the Bears.

For Thursday, immediate resistance for Nifty Spot comes at 5220/5225 Spot levels. Above this, the intraday trend can be considered to be positive, and the Bulls will attempt to change the short term trend to UP by closing above 5270/5280 range. On the downside, immediate support for Nifty Spot comes at 5165 and then at 5130 level. A close below 5130, will turn the medium/long term trend to Down, and the Bulls will fight fiercely to save this level.

29 Mar - Nifty Spot resistance at 5220-5245-5275-5295. Support at 5165-5130-5070-5050 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

26 Mar - Nifty View

Nifty had some erratic moves in the second half of last week. Finally, after 3 days of trading with volatility and giving 100+ point moves each day, it closed almost at the same level where it closed on Tuesday last week. The close was below the important level of 5330 Spot, and hence, the immediate short term trend should be considered negative till the time it stays below this level. As Friday also turned out to be an inside day, the highs and lows of Friday will act as stiff resistance/ support, and a move outside of this range should give a good move in the direction of the breakout. Hence, the Positional Shorts can now move their stoploss just above the High of Friday and reverse to Longs if this stoploss is taken.

The Nifty option OI Charts are given below:

On the Options front, Friday was the Bulls day out. They added a huge amount of 37 lacs+ OI between the three strikes of 5000 PE to 5200 PE. On the other hand, the Bears neither did much of addition nor did they cover any of their previous written Options. Overall, 5300 remains the 50:50 level for this series. 5200 is the biggest support, while 5500 is the major resistance. 5400 is a minor resistance as of now.

For Monday, immediate resistance for Nifty Spot comes at 5290/5295 level. Above this, it will head for its next strong resistance zone of 5320/5330, where it will face stiff selling pressure from the Bears. If however it is able to trade and sustain above 5330 Spot, then a short covering rally for 5400+ can come easily. On the downside, support for Nifty Spot comes around 5270 and then at 5245 levels. Below this, there is another strong support which wwill come near Friday's low of 5220 level. Break of 5220 can now lend some momentum to the downward move.

26 Mar - Nifty Spot resistance at 5290-5325-5355-5385. Support at 5270-5245-5220-5170 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

23 Mar - Nifty View

Nifty had big moves in the last two trading days. These moves were in opposite directions, the first changing the short term trend to UP, which turned out to be a whipsaw, and the second, changing it back to down. Yesterday, it was given that Positional Shorts can be opened if Nifty Spot trades below 5330. Those Positional Shorts were triggered yesterday and are already in more than 100 points profit. Traders can keep a stoploss at cost for these shorts, and ride the trend till Expiry. 5200-5150 is the support zone to watch out for, as many moving averages, including the 200 DMA is lying in this zone.

The Nifty option OI Charts are given below:


On the Options front, the picture is completely opposite to that of yesterday. Yesterday, it was the bears who ran for covering their positions at various strikes, and today, it was the Bulls turn. They covered a Huge 55 lacs+ open interest from 5000 PE to 5500 PE strike. This one move near the Expiry seems to have dented all hopes from the Bulls. On the other hand, the Bears added an equally Huge 44 lacs+ open interest from 5100 CE to 5500 CE strike. Overall, 5500 and 5600 have become the major resistances for Nifty for this series now. 5200 to 5400 is the narrow range, while 5300 has now become the 50:50 level.

For Friday, immediate resistance for Nifty Spot now comes at 5245-5250 levels. Staying above this, the Bulls can hope for a recovery upto 5270-5290 levels, which will give a good opportunity to create Short positions, with Stop and Reverse at 5330 level. On the downside, support for Nifty Spot comes at 5180-5185 level, below which, lies the 200 DMA near 5160 level. Some support is expected to come at these levels, but how far it can bounce, is to be see. Trend is down, hence, it is better to follow the Sell on Rises, till Nifty gives a close above 5330 now.

23 Mar - Nifty Spot resistance at 5245-5270-5290-5330. Support at 5185-5160-5130-5070 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

22 Mar - Nifty View

On Wednesday, Nifty opened on a flat note, but then started its steady climb up and closed nearly 100 points above the previous close. 5330 was the level, above which a short term trend reversal was expected. Nifty closed well above this level. Positional shorts, which had a stop and reverse of 5350, have been converted into Longs now. These longs can keep an initial Stop and Reverse at 5330 Nifty Spot on closing basis. Nifty is trading in a triangle right now, and breakout from this triangle can give a good directional move.

The Nifty option OI Charts are given below:

On the Options front, the Bears ran for cover today. They covered a huge quantity of 22 lacs+ OI from 5200 CE to 5500 CE strikes. On the other hand, the Bulls added a huge 15 lacs+ OI at two strikes of 5300 PE and 5400 PE. The level of 5300 has now become a minor support from the 50:50 level earlier. 5400 still remains the 50:50 level, and 5200 to 5500 is the current range for this series.

For tomorrow, immediate resistance for Nifty Spot comes at 5385/5390 level. Staying above this, it will head higher towards next resistance levels of 5405-5430 and 5460 level. On the downside, support for Nifty Spot comes now comes in the 5330 and 5320 zone. Till the time it stays above this zone, Buy on Dips should be the strategy for traders. However, if it sustains below 5330, then positional Shorts can be opened with a tight stop and reverse of 20 points.

22 Mar - Nifty Spot resistance at 5385-5405-5430-5460. Support at 5330-5290-5255-5230 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

21 Mar - Nifty View

Nifty had a rangebound choppy day on tuesday, with both side movements and closing near the centre of the range. Positional shorts, triggered on the break of 5350, can now keep a stop and reverse at the same level on closing basis. Although the short term trend is down below 5350, the downward momentum has not come and there are multiple supports in the 5100-5230 range on the downside. Hence, better to be safe on the short trade, as a close above 5350 can trigger a sharp short covering rally.

The Nifty option OI Charts are given below:

There was no significant addition in open interest done by either the Bulls or the bears today. Hence, the overall picture as per the Option Charts remains the same as they were yesterday. 5300 and 5400 have now become the battleground levels between the Bulls and the bears. The overall range for the month is from 5200 to 5500.

For tomorrow, immediate resistance for Nifty Spot comes at 5290/5295 levels. Above this, the next significant resistance zone is at 5320/5330 level. If trades and sustains above 5330 Spot, then a short term trend reversal can happen. On the downside, immediate support for Nifty Spot comes in the 5240/5230 zone. Below this, it can quickly slide towards lower level supports of 5200-5175 and 5140 levels.

21 Mar - Nifty Spot resistance at 5290-5320-5350-5370. Support at 5235-5200-5175-5140 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

19 Mar - Nifty View

On Friday, Nifty opened on a positive note, on budget expectations, but fell and closed well in the negative after a volatile day. In the process, it broke some key levels, turning the short term momentum down. Positional shorts were triggered below 5350 Spot nifty, and those who could trade can now keep initial stop and reverse above 5400 nifty Spot level. On the downside, Nifty has just stopped around the Gap support area, which was created 9th march. The Bulls can have hopes of Nifty finding some support in this zone. However, the trend has turned down, and till Nifty is trading below 5350 Spot, utilize the rallies to build short positions.

The Nifty option OI Charts are given below:

The EOD Options Charts from Friday belong to the Bears, although, overall, volumes of OI addition in Options was low on Friday. The bears added nearly 15 lacs OI at the three strikes of 5400 CE, 5500 CE and 5600 CE strikes. On the other hand, the Bulls covered 13 lacs+ OI at 5200 PE strike. There was very little addition in OI done by the Bulls on Friday. Overall, 5300 to 5500 is now the narrow range for the series, and 5200 to 5600 is the broad range. 5400 is the battleground level as of now.

For tomorrow, immediate resistance for Nifty Spot now comes at 5320-5330 zone. Staying above this zone in morning trades, the Bulls will attempt for 5370 and 5410 levels. As given earlier, any rise to these levels will be a Selling opportunity, with a Stop and Reverse at 5400 on closing basis. On the downside, immediate support for Nifty Spot comes at 5290 level. Below this, the bears will have an upper hand and they will push nifty towards lower level supports of 5245-5220 levels.

19 Mar - Nifty Spot resistance at 5325-5370-5410-5435. Support at 5290-5245-5220-5175 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

15 Mar - Nifty View

Nifty had another Gap Up on Wednesday, but faced stiff resistance in our resistance zone of 5490/5500 and sold off to fill the gap in in intraday trades, before finally closing in the positive. Positional longs can now increase their stoploss to 5350 level, and should reverse to Shorts if this level is breached. We are heading into the budget and some volatility can be expected. On the upside, the zone of 5490/550 is the immediate resistance, above which another 100 point rally can come.

The Nifty option OI Charts are given below:

On the Options front, the Bulls seems to be getting over confident. A huge 34 lacs+ OI was added by the Bulls from 5000 PE to 5500 PE strikes. Such a big move ahead of the volatile session of the budget indicated that the Bulls expect good news from the budget. The Bears were subdued and not much action was seen today in Call options. overall, 5400 and 5500 has become the battle ground levels between the Bulls and the Bears. 5300 and 5200 are the major support levels, while 5600 is the biggest resistance level for this series.

For tomorrow, immediate resistance for Nifty Spot again comes at 5490-5500 zone. Above this, a 100 point short covering rally can come, with minor resistance at 5555 level. On the downside, support for Nifty Spot comes at 5440 level, below which, it can slide towards 5420, 5385 and 5345 levels. A move below 5345 will be Bearish for the short term.

15 Mar - Nifty Spot resistance at 5495-5515-5555-5590. Support at 5440-5420-5385-5345 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

14 Mar - Nifty View

Nifty had a Gap Up opening on Tuesday, just above its resistance zone of 5375-5390, and then sustained above it for the entire day and closed above 5430 level. The breakout has happened and those in Longs now can now keep a stop and reverse near 5320 level on closing basis. On the upside, next important resistance for Nifty Spot comes at 5490/5500 level.

The Nifty option OI Charts are given below:


On the Options front, the Bulls added a good amount of 22 lacs+ OI from 5100 PE to 5400 PE strikes, the maximum being at 5400 PE. The Bears covered 8 lacs+ OI at 5300 CE and 5400 CE strike. Overall, the Option Charts show 5400 as the 50:50 level. Below that, 5300 is a minor support, while 5200 is a major support level for this series. On the upside, 5500 is a minor resistance, while 5600 is the major resistance for this series.

For tomorrow, immediate resistance for Nifty Spot comes at 5455-5460 levels. Above this, lies the important resistance zone of 5490-5500 level. A close above this resistance zone can easily bring another 100 point rally for the Bulls. On the downside, immediate support for Nifty Spot now comes at 5390/5380 levels. Below this, the Bears will try and test the next supports of 5345 and 5320 level. Till the time it stays above 5320 now, Nifty remains a Buy on Dips. If it moves below 5320 Spot, then all longs should be converted into Positional Shorts.

14 Mar - Nifty Spot resistance at 5460-5495-5515-5555. Support at 5385-5345-5320-5290 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

13 Mar - Nifty View

Nifty opened gap up on Monday, but could not support the gains and fell below 5380 in the first five minutes itself, and thereafter, struggled to cross it for the entire day. On the downside, it found support in our support zone of 5320-5325 and bounced back from there. If it gives a close below this zone now, positional shorts can be opened with a 50 point stoploss. On the upside, a breakout can happen if Nifty Spot is able to sustain above 5380/5390 zone. Hence, positional Longs can be taken if it sustains above this zone. Do remember that we are heading into the budget, and volatility will be the order of the day. Hence, trade with strict stop and reverse method for the time being.

The Nifty option OI Charts are given below:

As we near the volatile times of budget days, the Option writers seems to have gone into hibernation for the time being. From the Bulls, there was a good amount of profit booking at 5300 PE strike, which reduced its OI by 6 lacs+. Also, they added a small amount 4 lacs+ OI at 5400 PE strike. The Bears added a small quantity 3 lacs+ OI at 5500 CE strike. Apart from that, some activity was seen at faraway strikes, which is better to ignore for the time being. Overall, the Option Charts show 5400 as the 50:50 level ahead of the budget. Below that, 5300 is a minor support, while 5400 is a major support level for this series. On the upside, 5500 is a minor resistance, while 5600 is the major resistance for this series.

For tomorrow, immediate resistance for Nifty Spot comes at comes at 5370/5395 zone. Above this, the Bears can run for cover, which can take nifty towards higher levels of 5425-5460 levels. On the downside, support for Nifty Spot comes at 5340 and then at 5325/5320 levels. Below this, the Bears will have an upper hand, and Nifty Spot will slide further towards 5290-5250 and 5220 levels.

13 Mar - Nifty Spot resistance at 5370-5395-5425-5460. Support at 5340-5320-5290-5250 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

12 March - Nifty View

Nifty had a Doji candle on weekly charts last week. It was a truncated week, and on Friday, it opened with a gap, and continued to rise, leaving the gap open. We are heading into the budget, with the Nifty crucially poised within the range of 5300 to 5400. A breakout/ breakdown from this range can easily lead to a next 100 point move in Nifty Spot. Within this range, intraday trades will yield better results than positional ones.

The Nifty option OI Charts are given below:

On Friday, there was a huge addition of nearly 12 lacs OI at 5300 PE by the bulls. Apart from that, there was nothing much that happened in the open interest of other strikes of options. Overall, 5200 PE has the highest OI for the Bulls, followed by 5000 PE and 5300 PE. For the Bears, the maximum OI is at 5600 CE, followed by 5500 CE. 5400 is the 50:50 level as of now.

For Monday, immediate resistance for Nifty Spot comes at 5370/5395 zone. Above this, the Bears can run for cover, which can take nifty towards higher levels of 5425-5460 levels. On the downside, support for Nifty Spot comes at 5325/5320 levels. Below this, the Bears will have an upper hand, and Nifty Spot will slide further towards 5290-5250 and 5220 levels.

12 Mar - Nifty Spot resistance at 5370-5395-5425-5460. Support at 5320-5290-5250-5220 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

Happy Holi to All Readers

7 March - Nifty View

Nifty had an extremely volatile day today, with the UP Election Result News weighing on the market. Based on the initial reaction of the market, it has given an initial thumbs down to the results. Whether this downmove is going to sustain and results in a downtrend remains to be seen. As of now, consider the trend as down till the time Nifty does not give a close above 5320/5330 Spot. There was huge volumes traded in nifty futures today. The next move of Nifty will give indications as to whether these volumes contained fresh Shorts or fresh Longs. Also, it is going to be a holiday truncated week. Hence, it is better to stay on the sidelines now and wait for next trade setup to emerge.

The Nifty option OI Charts are given below:

On the Options front, the Bears added small amounts to their positions, by adding 14 lacs+ OI from 5200 CE to 5500 CE strikes. The Bulls covered a small amount at 5200 PE and above strikes, but added a huge amount of 9 lacs+ OI at 5000 PE strike. Overall, 5600 levels is beginning to look like a decent resistance now from the Options Charts. The level of 5200 is still the biggest support level, below which, the next important support comes at 5000 level. 5400 is the 50:50 level as of now.

For tomorrow, immediate resistance for Nifty Spot comes at 5255/5260 levels. Staying above this, the Bulls will again try and lift nifty towards 5290 and 5325 levels. 5325 level can now be taken as a short term trend deciding level on closing basis, above which, we can see a short covering rally for 5400+ levels. On the downside, support for Nifty Spot comes at 5220 levels, below which, the 200 DMA near 5175 levels will be targeted by the Bears. Break of 5175 can lead to further downsides towards 5145 and 5120 levels.

7 March - Nifty Spot resistance at 5260-5290-5325-5370. Support at 5220-5175-5145-5120 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

6 March - Nifty View

Nifty broke below its support of 5320/5325 in the morning trades on Monday, and then had a steady slide towards 5265 levels, before closing around 5280 levels. In the process, it once again closed below the support line of 5320. Last time it did so on 27th Feb, and thereafer had a good recovery the very next day.Tomorrow is going to be a news heavy day, and hence, traders who are short can now raise their stoploss to 5330 Spot on closing basis. However, Positional Longs will only be entered if Nifty manages to close above 5400 tomorrow. Some volatility can be expected in tomorrow's trade due to the News Heavy Day, and hence, intraday trades can be avoided.

The Nifty option OI Charts are given below:

Ahead of the Big News day, both the Bulls and the Bears seem to have added huge positions today. The Bulls added a huge number of 20 lacs+ OI from 5000 PE to 5200 PE strikes, while covering 6 lacs+ OI at 5300 PE strike. The Bears were primarily active in 5300 CE and 5400 CE strikes, where they added 11 lacs+ open interest. Ahead of the Election Results, 5200 is the biggest support for Nifty, with the highest open interest at 5200 PE strike. 5400 and 5500 are the 50:50 levels as of now. 5600 CE has the highest OI in Calls, but the number is not big enough to term it as a major resistance.

For tomorrow, immediate resistance for Nifty Spot now comes around 5290 level, above which, it will now face major resistance at 5320/5325 Spot levels. Trading and sustaining above 5325 Spot will be the first indication of a short term trend change, to be confirmed by a close above 5400 now. On the downside, support for Nifty Spot comes at 5250 levels. Below this, the Bears will continue to push it towards lower supports of 5220-5180 and 5145 levels.

6 March - Nifty Spot resistance at 5290-5325-5370-5395. Support at 5250-5220-5180-5145 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips

5 March - Nifty View

Nifty ended the second consecutive correction week last week, closing near 5360 level. The positive point for the Bulls is that it was able to hold on to the its support of 5320/5300 Spot on closing basis. Upside major resistance for next week comes at 5430/5460 levels, and positional shorts can lower their stoploss to this level. Once it closes and sustains above 5400 Spot, this correction can deemed to be over and Positional Longs can be opened. Till then, prefer to Sell with stoploss above 5400 Spot.

The Nifty option OI Charts are given below:

There was very little addition of open interest done by both, the Bulls and the Bears on Friday. Overall, the Option Charts indicate strong support for Nifty at 5300 and 5200 levels. 5600 CE strike has the maximum open interest in Calls, however, it is not of such big volume so as to be considered as a major resistance as of now. 5300 to 5600 is the indicated range from the Option Charts, with 5400 and 5500 as the battleground level for the Bulls and the Bears.

For Monday, immediate resistance for Nifty Spot comes at 5365/5370 levels. Above this, it ill head for 5395 levels and then towards 5425/5430level. The Bears are expected to offer stiff resistance at 5400+ levels. Still, if nifty is able to sustain and close above 5400, then this short term correction can be considered to be over. On the downside, support for Nifty Spot comes at 5320/5325 levels. Below this, the Bears will have an upper hand, and they will push nifty down to test lower levels of 5290/5250 levels.

5 March - Nifty Spot resistance at 5370-5395-5425-5460. Support at 5320-5290-5250-5220 - www.niftypower.com

Nifty Tips - Nifty Future Tips and Nifty Option Tips