31 Oct - Nifty View

On Monday, Nifty finally broke the 100 point range of 5630 to 5730 Spot, after the RBI Credit Policy, and further dropped 40+ points after that, before closing around 5590 level. Tomorrow, being the monthly closing level, it will be interesting to watch whether the Bulls can make a comeback. On the upside, the levels of 5615/5630 and 5660 are expected to provide stiff resistance to any upmove. On the downside, below 5590, Nifty can further slide towards 5565/5555 levels, below which, lies the Gap support of 5525/5528. Whether Nifty breaks the Gap support and slides further remains to be seen. For traders, Positional Shorts have been triggered below 5630, and they can keep an initial stoploss above 5660 Nifty Spot on closing basis.    

The Nifty Option OI Charts are given below:   

On the Options front,it was a day that belonged to the Bears. They added 51 lacs+ OI from 5600 CE to 6000 CE strike. On the other hand, the Bulls were mainly active only at 5500 PE strike, where they added 9 lacs+ OI. Overall, from the Option Charts, the Bears seem to have taken a slight lead at 5700 level, and also dented the support of 5600, but very slightly. 5500 and below are the supports, with max. OI from the Bulls being at 5300 level. On the upside, 5800 and above are the resistances.

For tomorrow, immediate resistance for Nifty Spot comes at 5615 and 5630 level. Any movement till these levels can be good opportunity to create short positions, with Stoploss above 5660 level on closing basis. On the downside, support for Nifty Spot comes at 5590 level, where it took support 4-5 times on Monday. Below this, the Bears will continue to have an upper hand, and they can take Nifty down to test lower level supports of 5565/5555 and 5625. Below 5525, lies the big Gap area.

31 Oct - Nifty Spot resistance at 5615-5630-5660-5695. Support at 5590-5560-5525-5460 - www.niftypower.com

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29 Oct - Nifty View

On Friday, Nifty opened down, near 5680 levels, continued down to again test its support level of 5640, before recovering slightly to close near 5665 level. It continues to trade within the narrow 100 point range of  5630 to 5730. Till it breaks out of this range, the levels given in previous Nifty View remains valid. Positional traders have to patiently wait for this range to break, before initiating any trade.

The Nifty Option OI Charts are given below:    

On the Options front, the Bears were active at 5700 and above strike, adding 26 lacs+ OI from 5700 CE to 6000 CE strike. On the other hand, the Bulls were active at 5700 PE strike, where they added 6 lacs+ OI. Below that, any significant OI addition was at OTM strikes of 5400 PE and 5200 PE strike. Overall, just like last series, the level of 5700 is the 50:50 level in this series also, as per the Option Charts. 5600 and below are the supports, while 5800 and above are the resistances.

For tomorrow, immediate resistance for Nifty Spot comes at 5690/5695 level. Staying above this level, the Bulls will have an upper hand, and they will attempt to again cross the 5715/5735 range. On the downside, support for Nifty Spot comes at 5660/5655 level. Below this, the support levels of 5630/5635 will be tested again. Any significant move is expected only outside this range of 5630 to 5735.

29 Oct - Nifty Spot resistance at 5690-5715-5735-5755. Support at 5655-5630-5605-5565 - www.niftypower.com

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26 Oct - Nifty View

The October Expiry in Nifty finally happened in the most obvious and expected way. It ended right near 5700 level, which was being indicated from the Option Charts for entire month of October. For almost the entire month of October, Nifty has consolidated between the 100 point range of 5630 to 5730 Spot. This range was identified in the Nifty View of 12th October, and Nifty has traded within this band ever since. Positional traders have to patiently wait for this range to break, and then trade in the direction of the breakout with a tight stoploss.

The Nifty Option OI Charts are given below:    

On the last day of the Expiry, there was small additions done at various strikes of next series by both the Bulls and the Bears. The November Series also begins with 5700 being the 50:50 level. The Bulls are again building support at 5600 level. On the upside, 5900 is the biggest resistance, with the maximum OI in Calls being at 5900 CE strike. 5800 is a minor resistance as of now.

For tomorrow, immediate resistance for Nifty Spot comes at 5715-5735 zone. Above this, the next important resistance level is at 5750/5755. Staying above this, we can see a short covering rally in Nifty for 5795 levels. On the downside, support for Nifty Spot comes around 5690 levels. Below this, the Bears will have an upper hand, and the next important support level for Nifty Spot comes at 5660/5655 levels. Below 5660/5655, lies the most important levels of 5630/5625, which can be a short term trend deciding level of Nifty.

26 Oct - Nifty Spot resistance at 5715-5735-5755-5795. Support at 5690-5660-5630-5605 - www.niftypower.com

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Nifty Performance Update

Heading into the Last week of October, here is a Performance Snapshot of our Packages:

Nifty Performance:

	Max. Profits in Points/Lot	Safe Traders Strategy	Risky Traders Strategy
Nifty Live Charts	101	83	211
	Rs. 5050	Rs. 4150	Rs. 10550
	20.2%	8.3%	14.1%
Nifty Futures SureShot	217	238	414
	Rs. 10850	Rs. 11900	Rs. 20700
	43.4%	23.8%	27.6%
Nifty Future Single Target	107	214	321
	Rs. 5350	Rs. 10700	Rs. 16050
	21.4%	21.4%	21.4%
Nifty Options SureShot	90	186	440
	Rs. 4500	Rs. 9300	Rs. 22000
	90.0%	46.5%	55.0%
Nifty Options Single Target	44	176	352
	Rs. 2200	Rs. 8800	Rs. 17600
	44.0%	44.0%	44.0%
Nifty Future Positional	49	49	98
	Rs. 2450	Rs. 2450	Rs. 4900
	9.8%	4.9%	4.9%

Note: Performance Corrected from the First Post

Some Salient Features of the Performance:

1. Our Regular SMS Package has beaten the Live Charts by a BIG Margin this time. This is understandable, as Nifty has been trading within a range of approximate 100 points. Live Charts don't know whether the market is rangebound or not. But We Do and have been able to capitalize on that knowledge :).

2. Although Nifty has been very rangebound and choppy in October, Live Charts has still managed to give 14%+ Returns to someone trading with 3 Lots. That's a Good Enough Performance in itself.

3. In our SMS Package, Risky traders, that is traders trading with 8 Lots in Nifty Options, have got an excellent return of 55%+ returns in October. Even Safe Traders, that is traders trading with  4 Lots in Nifty Options, have got approx. 45% returns till now in October. That is a Huge return by any standards. Any Expectations more than that, can be nothing but pure Greed.

4. Our Star Package for the last three months, Nifty Futures Positional has been trailing this month, simply because we have given only 1 call in October, due to the rangebound market conditions.

Going into the Festive Season, we have also Reduced the Cost of Single Target Packages, making it Equal to the SureShot Packages. Nifty Live Charts will also continue to be Free for the time being. Request all Users to Support Us and in this initiative of keeping the Live Charts Free!

Happy Trading!

NiftyPower Team

P.S.:
You can see Live Nifty Charts with Buy Sell Signals during market hours Free on our website www.niftycharts.co.in

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19 Oct - Nifty View

On Thursday, Nifty opened flat in the morning, made a nice upmove in the afternoon, to close above 5700 levels, in its strong resistance zone of 5715-5735. Nifty has not done anything this entire week. It has continued to trade within the 100 point range of 5630 to 5730, which was identified in previous Nifty View. During the week, it tested the lower end of the range, and at the end of the week, it is near the upper end of the range. Positional traders should wait for a breakout/ breakdown from this range before initiating a trade. Friday can provide that breakout.


The Nifty Option OI Charts are given below:  

On the Options front, it was day that belonged to the Bulls. The added 32 lacs+ OI from 5600 PE to 5800 PE strike. On the other hand, the Bears ran for cover, and covered 43 lacs+ OI from 5600 CE to 5800 CE strike. From the Option Charts of Thursday, it looks as if the Bears have given up their hopes of breaking 5600 on Nifty. Overall, the picture remains the same. 5600 to 5800 is the clear defined range for this series. 5700 is the 50:50 level between the Bulls and the Bears.

For Friday, immediate resistance for Nifty Spot comes in 5715-5735 zone and then around 5750 level. If it manages to stay above these levels, then we can see some panic covering from the Bears. On the downside, support for Nifty Spot comes around 5690/5670, and then at 5650 levels. Below 5690, the Bear will have an upper hand. 5670 to 5730 is the expected trading range for Friday. Any movement outside this range, can bring good movement in the direction of the breakout.

19 Oct - Nifty Spot resistance at 5715-5735-5750-5795. Support at 5690-5670-5655-5630 - www.niftypower.com

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16 Oct - Nifty View

 On Monday,  Nifty opened down, but recovered intraday to once again get resisted at 5690/5695 level, and closed very near to it. For the past two trading days, Nifty has traded within the range of Thursday. It has defined a clear trading range of 5630 to 5730/5735. Any Breakout/ Breakdown from this range can give the next quick move of 100+ points. Hence, Positional traders can either continue to hold shorts with stop and reverse around 5735 Nifty Spot, or sit out and wait for the breakout/ breakdown to happen. Intraday traders can continue to make merry till Nifty is within the range, and trade with a combination of support and resistances, along with oscillators like Stochastics and RSI.

The Nifty Option OI Charts are given below:  

In Nifty Options, the Bulls strengthened their positions at 5600 level, by adding 7 lacs+ OI at 5600 PE strike. On the other hand, the Bears added a similar amount of OI, but at a surprisingly lower level of 5400 PE strike. Overall, 5800 and 5900  remain as towering resistances for this series, with open interest in 5800 and 5900 CE strikes near a huge 90 lacs each. 5700 remains the 50:50 level, with almost equal open interest. 5600 and below are the supports as of now.

For tomorrow, immediate resistance for Nifty Spot comes at 5690/5695 levels. Above this, the Bulls will again  try to take it towards higher level resistances of 5715/5735 and 5750 level. On the downside, support for Nifty Spot comes around 5660/5650 level. Below this, the Bears will have an upper hand, and they will try and take Nifty to retest its support level of 5630/5625 and 5605 levels. Below 5630, the Bears will be in control and there can be some panic selling in Nifty.

16 Oct - Nifty Spot resistance at 5695-5715-5735-5755. Support at 5655-5630-5605-5585 - www.niftypower.com

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12 Oct - Nifty View

On Thursday, Nifty declined in early trades, took support right near to the support level of 5630 (5636 actual low) which was indicated in previous Nifty View, and then bounced nearly 80 points from there, to close near 5715 resistance level. In the previous Nifty View, the importance of 5630 was highlighted, and also, it was given that Positional traders should book partial profits around this level. Now, Nifty has taken support around at 5630, but it has still not broken the resistance of 5735/5750. Hence, positional traders can hold their shorts keeping a Stop and Reverse above 5735 Spot level on closing basis. 5630 to 5735/5750 Spot is the new trading range for Nifty. A breakout/ breakdown can be expected outside of this range now.

The Nifty Option OI Charts are given below:

 

 On the Options front, there was more covering/profit booking seen by both the Bulls and the Bears. The Bulls covered 13 lacs+ OI at 5400 PE and 5500 PE strike, while the Bears covered 12 lacs+ OI at 5700 CE and 6000 CE strike. The Bears also added 12 lacs+ OI at 5800 CE and 5900 CE strike, while the Bulls added 10 lacs+ OI at 5600 PE and 5700 PE strike. Overall, 5700 remains as the 50:50 levels between the Bulls and the Bears. 5600 is the biggest support, while 5800 and 5900 are the biggest resistances as per the Option Charts. On such a recovery day, the Option Charts have not changed at all, and they don't look that much Bullish. Probably, Friday's action will throw more light on what the Option writers are thinking about Nifty.

For tomorrow, immediate resistance for Nifty Spot now comes at 5715/5735 zone, above which, the Bulls will take it towards 5750/5755 level. Is sustains above 5750, another short covering rally can come in Nifty. On the downside, support for Nifty Spot now comes around 5690/5695 level. If the Bears manage to take it below this level. then a retest of supports at 5660/5630 is likely. Till Nifty stays between the range of 5630 to 5735, it is a trading market and better to book quick profits in both Long and Short trades. Outside of this range, we will see a Breakout/ Breakdown.

12 Oct - Nifty Spot resistance at 5715-5735-5750-5785. Support at 5690-5660-5630-5605 - www.niftypower.com

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11 Oct - Nifty View

On Wednesday, Nifty had another down day, closing just below its support level of 5655/5660. The downtrend, which was indicated in earlier Nifty View, has been confirmed, and traders can keep 5750 Nifty Spot as the invalidation point as of now. On the downside, support for Nifty Spot exists at 5630/5625 level, which was the recent low and also the breakout level, where Nifty made the yearly high. Below this level, more downsides can be expected, and Nifty can fall till 5550/5560 level. Hence, Positional traders are advised to hold Nifty Shorts with Stop and Reverse above 5750 on closing basis. Also, it will be prudent to book partial profits around around 5630 Nifty Spot level, as it is an important support level.

The Nifty Option OI Charts are given below: 

On the Options front, it was the Bears day again, who added 13 lacs+ OI at 5700 CE, and 8 lacs+ OI at 5900 CE strike. The Bulls added a small quantity of 6 lacs+ OI at 5400 PE and 5 lacs+ OI at 5500 PE strike. Overall, 5700 is the clear 50:50 level as of now. Below that, 5600 to 5400 are the support levels. 5800 to 6000 are the biggest resistances for this series, with open interest exceeding 70 lacs+ OI in Call Options above 5800 CE strike.

For tomorrow, immediate resistance for Nifty Spot now comes around 5670 Spot level. Staying above this, the Bulls will again try to take it to resistance levels of 5690/5715 and 5735. The short term trend remains down, and all such rises are expected to meet with selling pressure. On the downside, support for Nifty Spot comes at 5630/5625 levels. Below this, Nifty can slide towards 5560/5550 level, with minor support coming at 5600/5595 in between.

11 Oct - Nifty Spot resistance at 5670-5690-5715-5735. Support at 5625-5605-5560-5520 - www.niftypower.com

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9 Oct - Nifty View

On Monday, Nifty finally corrected a bit and fell below its support level of 5735, crashing to 5666 in intraday trade, just next to our last support level of 5660, and closed around 5672 level. From the time this rally has started, this is the first time that Nifty has broken a breakout support level. Hence, it is fair to expect this correction/ consolidation to last a bit longer than the previous ones. The short term trend should be considered down till the time Nifty Spot stays below 5735/5750 Spot level now. Positional Shorts have been triggered, and downside levels to keep an eye will be 5660 and 5630/5625 levels. Below 5630, it has the potential to reach 5560/5550 level. On the upside, 5735/5750 should offer stiff resistance now, and should be Stop and Reverse Level for Shorts on closing basis.

The Nifty Option OI Charts are given below:  

On the Options front, the Bars dominated again today, adding 22 lacs+ OI from 5700 CE to 6000 CE strikes. On the other hand, the Bulls were active at 5600 PE and 5400 PE, where they added 6 lacs+ OI each. Overall, 5700 has now become the 50:50 level between the Bulls and the Bears. 5800 and 6000 are the major resistances for Nifty in this series.On the downside, support exists at 5600 and below levels.

For tomorrow, immediate resistance for Nifty Spot now comes at 5690/5695 levels. If stays above this, then the Bulls will try a retest of 5715/5735 zone, where again Selling pressure is expected to come. On the downside, support for Nifty Spot comes at 5660 levels. Below this, the Nears will continue to have an upper hand, and they can drag Nifty toward 5630/5625 and 5605 levels. If breaks 5600, then 5560/5555 can come quickly.

9 Oct - Nifty Spot resistance at 5695-5715-5735-5750. Support at 5660-5625-5605-5560 - www.niftypower.com

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8 Oct - Nifty View

 Nifty had a Chaotic day on Friday, with Freak Trades from a broker (according to official version) hitting the lower circuit on Nifty Spot, which halted the trading for a short period of time. Nifty was in correction mode before the freak fall, and after that, it went on to test its breakout support levels around 5735 again, and closed near to that level. The down day of Friday may have started the correction/consolidation phase. Positional traders can maintain the Stoploss of 5735 on Nifty Spot on closing basis, and 5690 on intraday basis. Aggressive traders can even go short on breach of 5690 Nifty Spot level, with Stop and Reverse above 5735 Spot level.

The Nifty Option OI Charts are given below:

 

On the Options front, it was Bears Day Out, as they added a Huge Quantity of 34 lacs+ OI from 5800 CE to 6100 CE strike, the maximum being 15 lacs+ OI at 5800 CE strike alone. The Bulls did not do much on Friday. The Bars have turned the level of 5800 into a minor resistance level again, while 5700 remains a minor support. A breakout/ breakdown from this 100 point range of 5700-5800 can easily bring the next 100 point move in Nifty. Overall, 5690 to 5815 can be treated as the current trading range for Nifty Spot.

For tomorrow, immediate resistance for Nifty Spot comes at 5750 level. Above this, the intraday trend will be positive, and the Bulls will try to pull it toward upper level resistance of 5775-5795 and 5815 levels. On the downside, support for Nifty Spot comes at 5735-5715 and 5690 levels. The Bears will have an upper hand if Nifty Spot sustains below 5715 in intraday trade. Below 5690, short term correction can start in Nifty.

8 Oct - Nifty Spot resistance at 5750-5775-5795-5815. Support at 5735-5715-5690-5660 - www.niftypower.com

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5 Oct - Nifty View

On Thursday, Nifty finally broke out from 5715-5735 range, after several days of consolidation. It closed at resistance zone on Wednesday, opened well above it on Thursday, and straightaway went for the resistances. On the downside now, this zone of 5735/5715 and 5695/5690 will be an important reference zone, to look for supports in case of a correction. Positional traders can move their Stoploss below these levels now. Though Nifty continues its upside march, this one way rise now needs some consolidation/ correction. The present resistances around 5800 is the level to watch out, as above that, next logical target for Nifty can be near 6000 levels. This is also indicated from the Option Charts. Hence, as given in previous Nifty Views, at these levels, though the trend is up, it is better to just hold Long positions with a trailing Stoploss, than using the Buy on Dips strategy.  

The Nifty Option OI Charts are given below:

On the Options front, 5800 Strike was the focus of attention today. The Bulls added 13 lacs+ OI at 5800 PE strike. On the other hand, the Bears covered 10 lacs+ OI at 5800 CE. Hence, in one day's movement, the level of 5800 has gone from being a major resistance to a minor resistance. Above this, the next major resistance as per the Option Charts is at 6000 level. On the downside, 5700 is a minor support now, while5600 and below are the supports.

For tomorrow, immediate resistance for Nifty Spot comes at 5775/5795 zone. Staying above this zone, the Bulls will continue their upward march, for higher levels of 5825 and 5880/5885 levels.On the downside, support for Nifty Spot comes at 5760/5750 levels. Below this, lies the breakout zone of 5735/5715 and 5690 level. Intraday, the Bears will dominate below  5775 level. However, Buying support is expected to come at all supports, and it will be prudent to book quick profits in intraday short trades.

5 Oct - Nifty Spot resistance at 5795-5825-5860-5885. Support at 5775-5750-5735-5715 - www.niftypower.com

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3 Oct - Nifty View

On Monday, Nifty opened flat, and rose slightly on low volumes, to close in its resistance zone of 5715/5735. While there is no change in the levels given in earlier Nifty Views, there does seem to be some exhaustion setting in, as Nifty has been unable to cross and close above this resistance zone of 5715/5735. Either it should cross it quickly, else it can start to fall under its own "overbought" weight. Hence, Positional traders will be better off in taking some profits off the table, and wait to see whether Nifty breaks out of this resistance zone, or else goes down to test its supports. On the upside, above 5735, next resistance zone to watch out will be at 5775/5795 Spot levels. On the downside, the lows of Monday should give some intraday support. Below that, 5660/5655 and 5630/5625 levels need to be watched, to see if any Buying support comes at those levels. If not, then a deeper correction can start. But all that is for later. Currently, as traders, we have to consider the trend as "Up" only, till Nifty is trading above 5630/5650 levels. However, instead of Buy on Dips, it ill be prudent to Wait and Watch, if Nifty is not able to cross and close above 5735 Spot level.

The Nifty Option OI Charts are given below:

 On the Options front, the Bears were active and they added 20 lacs+ OI from 5800 CE to 6000 CE strike. On an Up day, this move was a little surprising from the Bears. On the other hand, the Bulls did not do much, except for a small addition of 6 lacs+ OI at 5600 PE strike. Overall, 5700 remains as the 50:50 level for this series. 5600 and below are the supports, while 5800 and 6000 are the major resistances as of now.

For tomorrow, immediate resistance for Nifty Spot comes in the 5715/5735 zone. Staying above this, the Bulls will try to take it higher towards it next resistance levels of 5775/5795. On the downside, support for Nifty Spot comes around Monday's low of 5695/5690 levels. Below 5690, Nifty Spot can go on to test lower level supports at 5660/5655 and . A break of 5655 and 5630 will indicate a short term trend change.

3 Oct - Nifty Spot resistance at 5715-5735-5775-5795. Support at 5690-5670-5655-5630 - www.niftypower.com

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1 Oct - Nifty View

 

After ending the September series with a Red Candle, Nifty opened up on the first day of the series, made a New Yearly High, but could not sustain it and slid to close just around 5700 levels. The Bulls have managed to save 5630/5625 Spot levels on all declines till now, and Positional traders can raise the Stoploss for Longs positions to that level. Fresh Shorts can also be opened below those level, with a strict Stop and Reverse above 5660 Nifty Spot closing level. This will avoid any whipsaw trade, and ensure that traders stay with the trend. On the upside, 5715/5735 have been mentioned as stiff resistances in earlier Nifty Views also, and Nifty took resistance exactly at that level. Above this zone, 5775/5795 should come quickly.

The Nifty Option OI Charts are given below:

On the Options front, it was the Bulls show on the first day of the series. They added 36 lacs+ OI from 5400 PE to 5700 PE strikes. On the other hand, the Bulls did not do much on Friday. Overall, the Option Charts indicate 5700 as the 50:50 level between the Bulls and the Bears. 5300 is the biggest support, while 6000 is the biggest resistance as of now. However, since it is just the beginning of the series, the OI at various strikes is still lower than average, and hence, no conclusions should be drawn so early in the series.

For tomorrow, immediate resistance for Nifty Spot comes at 5715/5735 levels. Above this, the Bulls will be in control and they can take Nifty higher towards 5775/5795 levels. On the downside, support for Nifty Spot comes at 5690 and 5660/5655 levels. Below 5690, Nifty Spot can go on to test lower level supports. A break of 5655 and 5630 will indicate a short term trend change for the Bulls, and Positional Shorts can be opened with Strict Stop and Reverse above 5660 Spot.  

1 Oct - Nifty Spot resistance at 5715-5735-5775-5795. Support at 5690-5670-5655-5630 - www.niftypower.com

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