Tuesday 31 January 2017

Bank Nifty Spot Outlook for 01st February

BANK NIFTY


Bank Nifty spot opened at 19533.20 and made a high of 19624.10 , then went down till 19435.45 before closing at 19515.15 . Had  mentioned that long positions can be taken above 19666 and short positions can be taken below 19505 for the day .  

Bank Nifty triggered our intraday short trade and completed just 1 target for the day . Bank Nifty also triggered our weekly short level but closed above our confirmation level by 15 points . 


Now for this week Bank Nifty needs to break and sustain above 19916 then we can expect a move till 20044 - 20135 levels initially and closing above 20190 we can expect the next move till 20379 - 20587 . Similarly Bank Nifty needs to break and sustain below 19500 then we can expect a move till 19373 - 19282 levels initially and closing below 19226 we can expect a further move till 19037 - 18830 . 

For the month of February we can expect uptrend to continue in Bank Nifty spot on a consecutive closing above 19958 and downtrend on a consecutive closing below 19072 . In January had given 18506 closing as the long confirmation level for Bank Nifty and we saw a move of 1200+ points after Bank Nifty had closed above the monthly long confirmation level. 

For today if Bank Nifty spot sustains above 19596 we can see a initial move till 19682 & on sustaining above 19703 we may see further move  till 19858 . Similarly if Bank Nifty spot sustains below 19434 we may see a initial move on the downside till 19349 &  on sustaining below 19327 we may see further move till 19172 . We have our Union Budget too today which is a big event and we can expect good volatility and it is advisable to wait for the event to get over to enter trades .

Bank Nifty Spot Levels for the day are

Long above 19596 for 19646 
– 19703 – 19858 , SL 19490

Short below 19434 for 19384 – 19327 – 19172 , SL 19540

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Nifty Spot Outlook for 01st February

NIFTY


Nifty spot  opened  at 8629.45 and made a high of 8631.75 , went down till 8552.40 before closing at 8561.30 . Had mentioned that long positions can be taken above 8655 and short positions can be taken below 8610 for the day .  

Nifty triggered our intraday short trade and missed completing our last target by 14 points . Nifty also triggered our weekly shorts and missed our 3rd target by 5 points and closed confirming weekly shorts . 

Had mentioned in the previous posts 'Nifty has given a second consecutive close above 8600 and if it manages to break and sustain above 8663 then we may see some resistance near 8692 - 8699 levels ' and Nifty made a high of 8662.60 failing to break and sustain above 8663 for a upmove to begin . Have been mentioning since November that ' A deeper downmove can be expected on a consecutive close below 7895 ' and we had seen Nifty make a low of 7893.80 in the last week of December.  Those who are holding longs or intending to go long on a correction should keep a strict cbsl of 8503 for their positions.


Now for this week Nifty Spot needs to break and sustain above 8699 for long confirmationthen we can expect a move till 8735 - 8761 initially and closing above 8776 we can expect the next move till 8829 - 8887 . Similarly this week Nifty spot needs to break and sustain below 8583 then we can expect a move till 8547 - 8522 initially and closing below 8506 we can expect a further move till 8454 - 8396' .

For the month of February we can expect uptrend in Nifty spot on a consecutive closing above 8696 and downtrend on a consecutive closing below 8427 . In January we had given 8329 closing as the long confirmation level for Nifty and we saw a move of 340+ points after Nifty had closed above the monthly long confirmation level .

For today if Nifty spot sustains above 8586 we can see a initial move on the upside till 8612 & on sustaining above 8618 we may see further move till 8665 . Similarly if Nifty spot sustains below 8537 we may see a initial move on the downside till 8511 & on sustaining below 8503 we may see a further move till 8457 . We have our Union Budget too today which is a big event and we can expect good volatility and it is always advisable to wait for the event to get over to enter trades .


Nifty Spot Levels for the day are

Long above 8586 for 8601 - 8618 - 8665 , SL 8554

Short below 8537 for 8522 - 8503 - 8457 , SL 8569

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Monday 30 January 2017

Bank Nifty Spot Outlook for 31st January

BANK NIFTY


Bank Nifty spot opened at 19718.80 and made a high of 19767.05 , then went down till 19561.10 before closing at 19585.20 . Had  mentioned that long positions can be taken above 19787 and short positions can be taken below 19630 for the day .  

Bank Nifty triggered our intraday short trade and completed just 1 target for the day . Bank Nifty also tested our weekly short levels of 19580 but could not confirm the weekly short and finally closed also above it at 19585.20 . 

Bank Nifty has now moved up by 1200+ points after giving a consecutive close above our monthly long confirmation level of 18506 . 

Now for this week Bank Nifty needs to break and sustain above 19916 then we can expect a move till 20044 - 20135 levels initially and closing above 20190 we can expect the next move till 20379 - 20587 . Similarly Bank Nifty needs to break and sustain below 19500 then we can expect a move till 19373 - 19282 levels initially and closing below 19226 we can expect a further move till 19037 - 18830 . 

For the month of January we can expect uptrend in Bank Nifty spot on a consecutive closing above 18506 and downtrend to continue on a consecutive closing below 17848 . Bank Nifty has given a move of 1200+ points after closing above the monthly long confirmation level till now.

For today if Bank Nifty spot sustains above 19666 we can see a initial move till 19751 & on sustaining above 19772 we may see further move  till 19926 . Similarly if Bank Nifty spot sustains below 19505 we may see a initial move on the downside till 19420 &  on sustaining below 19398 we may see further move till 19245

Bank Nifty Spot Levels for the day are

Long above 19666 for 19715 
– 19772 – 19926 , SL 19560

Short below 19505 for 19455 – 19398 – 19245 , SL 19610

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Nifty Spot Outlook for 31st January

NIFTY


Nifty spot  opened  at 8635.55 and made a high of 8662.60 , went down till 8617.75 before closing at 8632.75 . Had mentioned that long positions can be taken above 8663 and short positions can be taken below 8619 for the day .  

Nifty tested our intraday short trade by breaking 1 point below it  but could not sustain and traded the entire day between our long and short trigger levels of 8619 - 8663 indicating indecisiveness  .

Had mentioned in the previous post 'Nifty has given a second consecutive close above 8600 and if it manages to break and sustain above 8663 then we may see some resistance near 8692 - 8699 levels ' and Nifty made a high of 8662.60 failing to break and sustain above 8663 for a upmove to begin . Have been mentioning since November that ' A deeper downmove can be expected on a consecutive close below 7895 ' and we had seen Nifty make a low of 7893.80 in the last week of December.  Those who are holding longs or intending to go long on a correction should keep a strict cbsl of 8486 for their positions.


Now for this week Nifty Spot needs to break and sustain above 8699 for long confirmationthen we can expect a move till 8735 - 8761 initially and closing above 8776 we can expect the next move till 8829 - 8887 . Similarly this week Nifty spot needs to break and sustain below 8583 then we can expect a move till 8547 - 8522 initially and closing below 8506 we can expect a further move till 8454 - 8396' .

For the month of January we can expect uptrend in Nifty spot on a consecutive closing above 8329 and downtrend on a consecutive closing below 8043 . Nifty has given a move of 340+ points after closing above the monthly long confirmation level till now.

For today if Nifty spot sustains above 8655 we can see a initial move on the upside till 8679 & on sustaining above 8685 we may see further move till 8727 . Similarly if Nifty spot sustains below 8610 we may see a initial move on the downside till 8587 & on sustaining below 8581 we may see a further move till 8538


Nifty Spot Levels for the day are

Long above 8655 for 8669 - 8685 - 8727 , SL 8626

Short below 8610 for 8597 - 8581 - 8538 , SL 8640

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Sunday 29 January 2017

Bank Nifty Spot Outlook for 30th January

BANK NIFTY


Bank Nifty spot opened at 19588.40 and made a low of 19534.80 , then went up till 19794.95 before closing at 19708.30 . Had  mentioned that long positions can be taken above 19548 and short positions can be taken below 19398 for the day .  

Bank Nifty triggered our intraday long trade and completed all our long targets for the day . Had mentioned in the previous post that 'Bank Nifty gave a stellar move of 500+ points after confirming our weekly longs and now only our last target of 19606 is pending for the week and we saw even that being achieved and exceeded by nearly 180+ points.

Bank Nifty has now moved up by 1200+ points after giving a consecutive close above our monthly long confirmation level of 18506 . 

Now for this week Bank Nifty needs to break and sustain above 19916 then we can expect a move till 20044 - 20135 levels initially and closing above 20190 we can expect the next move till 20379 - 20587 . Similarly Bank Nifty needs to break and sustain below 19500 then we can expect a move till 19373 - 19282 levels initially and closing below 19226 we can expect a further move till 19037 - 18830 . 

For the month of January we can expect uptrend in Bank Nifty spot on a consecutive closing above 18506 and downtrend to continue on a consecutive closing below 17848 . Bank Nifty has given a move of 1200+ points after closing above the monthly long confirmation level till now.

For today if Bank Nifty spot sustains above 19787 we can see a initial move till 19870 & on sustaining above 19891 we may see further move  till 20040 . Similarly if Bank Nifty spot sustains below 19630 we may see a initial move on the downside till 19547 &  on sustaining below 19526 we may see further move till 19376

Bank Nifty Spot Levels for the day are

Long above 19787 for 19835 
– 19891 – 20040 , SL 19684

Short below 19630 for 19581 – 19526 – 19376 , SL 19733

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Nifty Spot Outlook for 30th January

NIFTY


Nifty spot  opened  at 8610.50 and made a low of 8606.90 , went up till 8672.70 before closing at 8641.25 . Had mentioned that long positions can be taken above 8625 and short positions can be taken below 8581 for the day .  

Nifty triggered our intraday long trade and missed our last target by 24 points . Nifty had also completed all our weekly long targets a day ago and exceeded it too .

Nifty has given a second consecutive close above 8600 and if it manages to break and sustain above 8663 then we may see some resistance near 8692 - 8699 levels. Have been mentioning since November that ' A deeper downmove can be expected on a consecutive close below 7895 ' and we had seen Nifty make a low of 7893.80 in the last week of December.  Those who are holding longs or intending to go long on a correction should keep a strict cbsl of 8486 for their positions.


Now for this week Nifty Spot needs to break and sustain above 8699 for long confirmationthen we can expect a move till 8735 - 8761 initially and closing above 8776 we can expect the next move till 8829 - 8887 . Similarly this week Nifty spot needs to break and sustain below 8583 then we can expect a move till 8547 - 8522 initially and closing below 8506 we can expect a further move till 8454 - 8396' .

For the month of January we can expect uptrend in Nifty spot on a consecutive closing above 8329 and downtrend on a consecutive closing below 8043 . Nifty has given a move of 340+ points after closing above the monthly long confirmation level till now.

For today if Nifty spot sustains above 8663 we can see a initial move on the upside till 8686 & on sustaining above 8692 we may see further move till 8734 . Similarly if Nifty spot sustains below 8619 we may see a initial move on the downside till 8596 & on sustaining below 8590 we may see a further move till 8548


Nifty Spot Levels for the day are

Long above 8663 for 8677 - 8692 - 8734 , SL 8634

Short below 8619 for 8606 - 8590 - 8548 , SL 8648

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Weekly Spot Outlook of Bank Nifty for 30th January to 03rd February

BANK NIFTY

This week Bank Nifty spot went down 98 points and then went up by 974 points over last weeks close and finally ended the week with a gain of 888 points compared to last weekly closing . 


As per levels given for the previous week Bank Nifty Spot needed to break and sustain above 19006 to confirm uptrend and Bank Nifty spot needed to break and sustain below 18635 to confirm downtrend for the week. Bank Nifty made a high of 19794.95  and a low of 18722.85 


This week Bank Nifty triggered our long trade and completed all our weekly long targets giving us 670 points till our last target and also exceeded it by 189 points .Bank Nifty had corrected all the way till 17606.90 in the last week of December after caution was advised for longs in the month of September once 20080 was breached on closing  . We had seen a correction of nearly 2400+ points from our caution level of 20080 given 17 weeks ago.  Bank Nifty took support just near our confirmation levels to short again of 17608 and reversed to now make a high of 19795 gaining 2100+ points .  Had mentioned in the previous weekly post 'Now Bank Nifty has its immediate support near 18505 - 18805 levels where it had been taking resistance all through December' and  'Bank Nifty can test the support levels of 18521 - 18390 on breaking and sustaining below 18747 ' and Bank Nifty broke below 18747 but immediately bounced back from the support zone and gave a good up move . Now for this week Bank Nifty needs to break and sustain above 19916 for the up move to continue till 20587 with resistance near 20135 - 20190 levels . IF Bank Nifty sustains below 19500 then we can see a down move till 18830 with support near 19282 - 19226 levels . Those who are holding longs or those who are intending to go long on a correction should keep a strict cbsl of 19180 for the positions.

For the month of January we can expect uptrend in Bank Nifty Spot on a consecutive close above 18506 and downtrend continuation would be on a consecutive close below 17848 . Bank Nifty has given a move of 1200+ points after closing above the monthly long confirmation level till now .


In the coming week Bank Nifty spot needs to break and sustain above 19916 to confirm uptrend and then one can expect a move till 20135 initially and breaking and sustaining above 20190 will give further confirmation of the next move which can take us till 20587. Similarly Bank Nifty spot needs to break and sustain below 19500 to confirm downtrend and then one can expect a move till 19282 initially and breaking and sustaining below 19226 will give further confirmation of the next move which can take us down till 18830.


Bank Nifty Spot Levels for the week are

Long above 19836 , Tgt 19916 - 19980 - 20044

IF Bank Nifty spot manages to get a close / sustain above 20135 then 

long again for 20190 - 20379 - 20587

Short below 19580 , Tgt 19500 - 19437 - 19373

IF Bank Nifty spot manages to get a close / sustain below 19282 then 

short again for 19226 - 19037 - 18830


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels .

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Weekly Spot Outlook of Nifty for 30th January to 03rd February

NIFTY

This week Nifty spot went down 22 points over last weeks close , then went up by 323 points and finally ended the week with a gain of 292 points compared to last weekly closing.


As per levels given for the previous week Nifty Spot needed to break and sustain above 8396 to confirm uptrend and Nifty spot needed to break and sustain below 8303 to confirm downtrend for the week. Nifty made a high of 8672.70 and a low of 8327.20 for the week.

This week Nifty triggered our long trade and achieved all our long targets giving us 178 points till our last target and also over shot it by another 126 points .Nifty has so far made a low of 7893.80 from the high of 8968.70 made in September after caution was advised for longs in September once 8900 was breached on closing .Have been mentioning since November in the weekly posts 'Those who are holding positional longs or those who are looking to enter on dips should keep a strict CBSL of 7895 for their positions.' . We saw Nifty make a low of 7893.80 in the last week of December and reverse by around 750+ points till now . Now Nifty needs to sustain above 8699 this week for the up move to continue till 8887 with resistance near 8761 - 8776 . Breaking and sustaining below 8583 this week we can see a down move till 8396 with support near 8522 - 8506 levels. Those who are holding positional longs or those who are looking to enter fresh longs on any corrections this week should keep a strict cbsl of 8486 for their positions . We have our Union Budget too this week and one should watch the big event as it would determine the next immediate trend for the markets . 

For the month of January we can expect uptrend in Nifty spot on a consecutive close above 8329 and downtrend continuation would be on a consecutive close below 8043 . Nifty has given a move of 340+ points after closing above the monthly long confirmation level till now.


In the coming week Nifty spot needs to break and sustain above 8699 to confirm uptrend and then one can expect a move till 8761 initially and breaking and sustaining above 8776 will give further confirmation for the next move which can take us up till 8887. Similarly Nifty spot needs to break and sustain below 8583 to confirm downtrend and then one can expect a move till 8522 initially and breaking and sustaining below 8506 will give further confirmation for the next move which can take us down till 8396 . 


Nifty Spot Levels for the week are

Long above 8677 , Tgt  8699 - 8717 - 8735

IF Nifty spot manages to get a close / sustain above 8761 then ,

long again for 8776 - 8829 - 8887

Short below 8605 , Tgt 8583 - 8565 - 8547

IF Nifty spot manages to get a close / sustain below 8522 then, 

short again for 8506 - 8454 - 8396


P.S. Always wait for the yellow highlighted levels to be crossed after taking a long/short position for confirmation of the trade . Once the highlighted levels are crossed and the next target is achieved move your Stoploss to the highlighted levels .

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Thursday 26 January 2017

Bank Nifty Spot Outlook for 27th January

BANK NIFTY


Bank Nifty spot opened at 19120.05 and made a low of 19114.15 , then went up till 19518.45 before closing at 19473.20 . Had  mentioned that long positions can be taken above 19076 and short positions can be taken below 18971 for the day .  

Bank Nifty triggered our intraday long trade and completed all our long targets and also exceeded the last target by 250+ points . Had mentioned in the previous post that 'Bank Nifty also confirmed our weekly longs at close and if sustains above it then we may see the weekly resistance being tested at 19205 - 19253 and breaking above it we may see it go for the next targets of 19421 - 19606'  and we saw Bank Nifty give a stellar move of 500+ points after confirming our weekly longs and now only our last target of 19606 is pending for the week.

Bank Nifty has now moved up by 1000 points after giving a consecutive close above our monthly long confirmation level of 18506 . 

Had mentioned in the post of last week too ' We need to watch if Bank Nifty can break this range of (19020 - 19210 ) and also break above 19268 and sustain as this would trigger further upmove for the week . Once Bank Nifty sustained above this level we saw a further upmove of 250 points.

Also as mentioned 'Now for this week Bank Nifty needs to break and sustain above 19006 to test 19121 - 19202 levels initially and closing above 19252 we can expect a further upmove till 19421 - 19606 . Similarly Bank Nifty needs to break and sustain below 18635 to test 18521 - 18439 levels initially and closing below 18390 we can expect a further move till 18221 - 18036 . Bank Nifty has now made a high of 19518.45 and our last target is pending of 19606 now. 

For the month of January we can expect uptrend in Bank Nifty spot on a consecutive closing above 18506 and downtrend to continue on a consecutive closing below 17848 . 

For today if Bank Nifty spot sustains above 19548 we can see a initial move till 19628 & on sustaining above 19648 we may see further move  till 19791 . Similarly if Bank Nifty spot sustains below 19398 we may see a initial move on the downside till 19319 &  on sustaining below 19299 we may see further move till 19155

Bank Nifty Spot Levels for the day are

Long above 19548 for 19595 
– 19648 – 19791 , SL 19450

Short below 19398 for 19352 – 19299 – 19155 , SL 19496

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Nifty Spot Outlook for 27th January

NIFTY


Nifty spot  opened  at 8499.45 and made a low of 8493.95 , went up till 8612.60 before closing at 8602.75 . Had mentioned that long positions can be taken above 8493 and short positions can be taken below 8459 for the day .  

Nifty triggered our intraday long trade and completed all our long targets for the day and exceeded it by 60+ points  . Nifty had also completed all our weekly long targets and exceeded it too . Had mentioned in the previous post that Nifty had closed above 8457 indicating it might go for the last 2 long targets for the week . 

Had mentioned in the weekly post of Nifty that ' Once Nifty breaks below 8325 we can see the support levels of 8274 - 8254 being tested' and we saw Nifty hold 8325 this week and bounce back strongly after making a low of 8327.20 and has now made a high of 8612.60 and also closed above 8600 . Have been mentioning since November that ' A deeper downmove can be expected on a consecutive close below 7895 ' and we had seen Nifty make a low of 7893.80 in the last week of December.  

Had been mentioning  in  the previous posts 'Now inspite of the fact that Nifty closed above the monthly long confirmation level of 8329 we are at a stiff resistance zone of 8417 - 8433 and we need to watch if Nifty can break and sustain or close above this range for a further upmove , because IF Nifty is unable to do so then we can expect a correction till 8295 - 8270' and Nifty had broken and closes well above the range in the previous session and we saw good followup move . 

Also as mentioned 'Now for this week Nifty Spot needs to break and sustain above 8396, then we can expect a move till 8424 - 8445 initially and closing above 8457 we can expect the next move till 8499 - 8546 . Similarly this week Nifty spot needs to break and sustain below 8303 then we can expect a move till 8274 - 8254 initially and closing below 8242 we can expect a further move till 8199 - 8153' and today Nifty closed well above 8457 . We have now completed all our weekly targets and have closed more than 50 points above our last target .

For the month of January we can expect uptrend in Nifty spot on a consecutive closing above 8329 and downtrend on a consecutive closing below 8043 .

For today if Nifty spot sustains above 8625 we can see a initial move on the upside till 8648 & on sustaining above 8654 we may see further move till 8696 . Similarly if Nifty spot sustains below 8581 we may see a initial move on the downside till 8557 & on sustaining below 8551 we may see a further move till 8509


Nifty Spot Levels for the day are

Long above 8625 for 8639 - 8654 - 8696 , SL 8596

Short below 8581 for 8567 - 8551 - 8509 , SL 8610

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.