Coming Soon - LIVE Nifty Charts!

At NiftyPower, we have continued to evolve since inception. We believe that the Best way to improve and evolve is by listening to the clients needs, and fulfilling them to the best of our abilities. To this end, comes our next addition - LIVE Nifty Charts. These charts will have Buy/ Sell Signals with Targets and Stoploss. We are still bringing this to final shape, setting rules and designing a New Package for these charts. Till then, check out the trial video of these charts -

http://youtu.be/CAeMX7nVpLA

30 May - Nifty View

On Tuesday, Nifty closed slightly down, after having a gap up opening in the morning. The trend remains up, although the declining volumes are a worry. the 200 DMA is the next big resistance for Nifty, and a close above that might trigger a short covering rally and some panic among the Bears. Positional traders long on Nifty can book profits above 5000 on Nifty, and wait to see if it manages to close above the 200 DMA. there will be plenty of opportunities to re-initiate long trades after that. On the downside, no shorts advised till Nifty Spot is trading above the levels of 4920 as of now. Only below 4920, will the Bears have an upper hand. Till then, it remains a Buy on Dips market.

The Nifty Option OI Charts are given below:


In the Expiry week, little action is expected as far as addition of OI goes. However, the Bulls seem confident of a Bullish expiry. They added 18 lacs+ OI between 4800 PE to 5000 PE strikes. On the other hand, the Bears covered 16 lacs+ OI at between 4800 CE to 5000 CE strikes. Just 2 days to go for Expiry, and the Option Charts still dos not have a 50:50 level. 4900 is minor support, while 5000 is minor resistance. 4800 to 5100 is the broad trading range.

For tomorrow, immediate resistance for Nifty Spot now comes at 5020-5030 zone. Above this, short covering can straightaway take Nifty towards 5080/5090 levels. On the downside, support for Nifty Spot comes around 4955/4960 level. If it slide below 4955, then a retest of the breakout level of 4935/4940 can be done. Failure to hold 4935/4920 will lead to bigger slides in Nifty.

30 May - Nifty Spot resistance at 5025-5070-5095-5120. Support at 4960-4935-4920-4870 - www.niftypower.com

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

29 May - Nifty View

Nifty closed up by 60+ points on Monday, crossing at closing above its previous high near 4960 level. In the process, it has formed a higher low and now, a higher high on short term charts. At NiftyPower, we closed our Positional longs which were taken around 4880 level. Although the trend remains up, the volatility might increase as Nifty nears the resistance area at 5030 and 5085 Spot, in the expiry week. Hence, better to take profits off the table, and wait for a suitable re-entry zone or the next signal.

The Nifty Option OI Charts are given below:



On the Options front, there was a huge covering of 27 lacs+ OI from 4800 CE to 5000 CE strikes by the Bears. Also, there was an equally huge addition of 17 lacs+ OI at 4900 PE and 5000 PE by the Bulls. The Options data points to a bullish picture today. Going into the expiry week, 4900 has become a minor support level while 5000 is a minor resistance level. 4800 to 5100 is the broad range for this expiry.

For tomorrow, immediate resistance for Nifty Spot now comes at 5020-5030 zone. Above this, short covering can straightaway take Nifty towards 5080/5090 levels. On the downside, support for Nifty Spot comes around 4955/4960 level. Any decline towards these levels can be utilized to create intraday long positions. If it slide below 4955, then a retest of the breakout level of 4935/4940 can be done. Failure to hold 4935 will lead to bigger slides in Nifty.

29 May - Nifty Spot resistance at 5025-5070-5095-5120. Support at 4960-4935-4920-4870 - www.niftypower.com

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