Latest Performance notes of www.niftypower.com

NiftyPower Performance - April 2013

NOTES:

After a bumpy start to the month of April, we pulled our Performance and now can boast of good returns of over 20% for the second straight month! What makes this performance special is that our Live Nifty Charts is giving a negative return this month. Live Nifty Charts is a mechanical system for Buying and Selling and is projected Free for all traders, on our sister website www.niftycharts.co.in. To beat a mechanical system in Performance is always special, as it shows how difficult the market has been. There has been wild moves on both sides, without a defined trend. To counter such moves, we reduced our number of calls after the first week, and focussed more on accuracy. The result is Satisfactory!

Nifty Options is the best performing package so far, with returns of over 36% for traders following our Risky traders strategy. It is also heartening to see Nifty Futures Positional clocking more than 16% gains this month. Positional package has traditionally been our best performing package, with very limited calls and very high accuracy. We will strive to continue this good performance in this package.

As for Nifty, after moving below 200 DMA, it has once again bounced back above it. Short term sentiment is UP at the moment, however, we have seen that these can change very quickly. Currently, we are looking at a trading range of 300 points for the next 1-2 weeks. The most likely range is between 5630 to 5990. Above 5990, we would be expecting a New High on the Nifty,a nd would trade accordingly. More Nifty Views will be shared through our Blog as and when new developments take place.

Happy Trading!
NiftyPower Team

Reply to an Email Query

Following is a query that we received on email recently, and we think for all followers of this site might benefit with the reply. Please go through the reply, and if you have any doubts, feel free to contact us.

Query 1: Subject: Wrong Buy-Sell signals of  your Nifty Live charts.. After giving a sell signal at around 1:00 pm. the market went reverse..

Query 2: Subject: Buy Sell signal delayed. The sell signal was given late by half an hour today. Instead of 12:30 it generated at aroung 1:00 p.m.

REPLY:

Hi,

Thanks for writing in. We will look into your observation of signals being produced late. Sometimes, the chart may appear delayed during fast movement of the market, as it gets refreshed every 1 minute, whereas the price may move much during that time. However, that delay should not be more than 1-2 minutes, and it should also not affect the trading, as the Buy/ Sell price confirmation on candle closing price, which is a 5 minute candle. However, if it is getting delayed more than that, then there might be a problem and we will rectify it.

Regarding your second observation of wrong buy/sell signals, we accept that this is a loss making month for the Live Nifty Charts, and same is depicted in our performance also. However, it is not fully unexpected, as this month is coming after 4 continuous months of bumper profits. We had expected the same and posted a message for the same in chatbox on April 10th.

Please note that the best way to follow this system is to take each trade following either the “Safe Trader” method or the “Risky Trader” method given in the FAQ section. Apart from this, we also try to share our insights from time to time in the chatbox. These Charts have been running for almost an year now. During the past year, if followed with discipline, these charts would have easily more than doubled the money of traders. You can go through the posts we made on theconsolidated performances in the following links:

Live Nifty Charts Performance 2012

Live Nifty Charts Performance 2013

Hence, we would recommend you to observe the system for sometime, and when you have enough faith, trade with utmost discipline on the signals. Only then will the Performance that we track, and your actual Bank Balance will match with each other.

Happy Trading!

5 April - Nifty View

On Thursday, Nifty opened Gap Down, and continued to slide to make a new short term low on daily charts. In the previous Nifty View, it was mentioned that Nifty may be in the process of making a Lower High. That view has been confirmed. In the process, the Stop and Reverse level of 5675, for aggressive longs taken on the breakout above 5720/5730 has been hit. Traders who took the short trade, should be in good profits now, and can start booking profits, and move their stoploss to around 5705 Nifty Spot level. Those who missed it, should now wait for the next trading opportunity. For the Bulls, there is positive divergence which is persisting in RSI on Nifty Daily charts. Apart from that, the line joining the Lows is offering some sort of support as of now, which can later turn into a bullish pattern. However, since the momentum is on the downside right now, it is better to wait for a confirmed signal from price, rather than taking a risk trade based on positive divergence alone.

The Nifty Option OI Charts are given below:   

In the Nifty Option charts, the Bears dominated the day today. They added a huge quantity of 56 lacs+ Open Interest in Nifty Call Options of 5600 to 5800. On the other hand, Bears covered a huge quantity of 30 lacs+ in Nifty Put Options of 5600 to 5800. Overall, though Nifty has fallen below 5600, and despite the huge covering at 5600 PE today, Open Interest at 5600 PE remains the highest among Nifty Put Options. In Nifty Call options, 5700 CE and above strikes have added nearly 70 lacs Open Interest. Overall, the Nifty option charts indicate a trading range between 5600 to 5700 on Nifty Spot. Since Nifty is below 5600 Spot, the coming days trading should resolve this anamoly.

For Friday, immediate resistance for Nifty Spot comes at 5590/5595 levels. Above this, the next big resistance area for Nifty Spot will come at 5625/5630 levels. Only on a close above 5630 now, can the Bulls hope for some kind of a pause from the Bear onslaught. On the downside, support for Nifty Spot comes at 5565/5570 and 5550 levels. Below this, next major support for Nifty Spot comes 100+ points down around 5430, with minor support around 5520/5525 level.

5 Apr - Nifty Spot resistance at 5595-5625-5650-5700. Support at 5570-5550-5520-5435 - www.niftypower.com

Visit here for Nifty Tips - Nifty Future Tips and Nifty Option Tips

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

Also, Read our Daily  Nifty Analysis published on our Blog www.nifty-power.blogspot.in and have an Edge in you trading

For our regular Paid SMS Services, see Rates and Services Page on www.niftypower.com 

2 April - Nifty View

On Monday, Nifty opened slightly up, and traded rangebound during the day, with a negative bias, but recovered in the end to close mildly in the positive. There is a clear positive divergence in RSI on daily charts, which was formed when Nifty made its low near 5605 Spot level on Expiry day. Although it is a Buy Signal, to be confirmed by a move above the resistance zone of 5720/5730, but overall, the view still remains Bearish. Nifty has formed a Lower Low on short term charts, and may be, is in the process of forming a Lower High. This Bearish View will change only when Nifty is able to take out its recent high of 5970 on closing basis. Hence, all Positional trades on the long side, should be of smaller targets, till the time Nifty crosses its recent high. One such trade which is lurking around the corner is a Buy on breakout above the 5720/5730 zone. Aggressive traders can initiate a Buy if this breakout happens, with a Stop and Reverse below Monday's low around 5675. Above this zone, the next significant resistance zone for Nifty Spot lies 100 points up at 5820/5850 levels.

The Nifty Option OI Charts are given below:    

On the first trading day of the series, both the Bulls and the Bears added Open Interest in Nifty Options, as expected. The Bulls were most active at 5500 strike of Nifty Put. The Open interest in 5500 PE stands at 73 lacs+ at the start of the series itself, indicating that it will be a very strong support for this series. On the other hand, the Bears added huge quantity of 21 lacs+ Open Interest at Call Options of 5600 and 5700. For the Bears, there is no significant resistance which is formed till now. More clarity will emerge as the series progresses. 5600 is the 50:50 level between the Bulls and the Bears as of now.

For Tuesday, immediate resistance for Nifty Spot comes around 5720 level. Staying above this, the Bulls will have an upper hand, and they will try to push Nifty higher towards 5770 and 5795 levels. Above this, lies the next strong resistance zone of 5820/5850 for Nifty. On the downside, support for Nifty Spot comes at 5685/5675 levels. Below 5685, another round of selling can take Nifty to lower levels of 5645/5650 and 5625/5605. Hence, for tomorrow, 5685-5720/5725 is the immediate narrow range, breakout from which is expected to bring a good move.

2 April - Nifty Spot resistance at 5725-5770-5795-5820. Support at 5680-5650-5625-5605 - www.niftypower.com

Visit here for Nifty Tips - Nifty Future Tips and Nifty Option Tips

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

Also, Read our Daily  Nifty Analysis published on our Blog www.nifty-power.blogspot.in and have an Edge in you trading

For our regular Paid SMS Services, see Rates and Services Page on www.niftypower.com