Thursday, 29 October 2015

Outlook for 29th October

Nifty spot opened gap down at 8188.90 and made a high of 8209.10 and finally closed at 8171.20 after making a low of 8131.80. Yesterday we had mentioned Nifty range for the last 2 days of expiry at 8132 - 8334 and today Nifty made a low at 8131.80 and took support    near the lower level. Tomorrow is the last day of October series and we have lot size revision in many scrips including the Nifty. We had mentioned in our weekly outlook for Nifty spot for this week posted 24th October , that one can take short positions in the range of 8330 - 8360 ,those who would have taken positions would have got 200 points this week till today in Nifty. Nifty expiry for October series is now looking in the range of 8098 - 8244

Bank Nifty spot opened gap down at 17589.35 and made a high of 17682.45 and closed at 17373.15 after making a low of  17281.40 . Today Bank Nifty spot has closed way below 17710 spot , one more close below this would put more pressure on the downside. We had mentioned in our weekly outlook for Bank Nifty spot for this week posted on 24th October that one can take short positions in the range 18055 -18130 , those who would have taken positions would have got 800 points this week till today in Bank Nifty spot

Levels for tomorrow are

Nifty Spot

Long above 8183 for 8195  – 8214 – 8250

Short below 8159 for 8146 – 8127 - 8092

Bank Nifty Spot

Long above 17420 for 17470 – 17545 – 17685

Short below 17325 for 17275 – 17202 – 17061

P.S. : I might not be able to post regularly for a few days as I am travelling and might not get internet connectivity at times . Will keep updating whenever in good network. 

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .

Wednesday, 28 October 2015

Outlook for 28th October

Nifty spot opened gap down at 8230.35 and made a high of 8241.95 ane finally closed at 8232.90 after making a low of 8217.05 .We were expecting Nifty to take resistance in the range of 8330 - 8360 and correct till 8222 - 8210 initially.  We have 2 days left in the October series expiry and hence volatality can be expected. Nifty is now close to its support  zone of 8222 - 8202 and a  closing below it is required to confirm further downmove now. Nifty expiry for October series is now looking in the range of 8132 - 8334 

Bank Nifty spot opened gap down at 17738 and made a high if 17855.35 and closed at 17806.30.  Bank Nifty spot is also very close to its support zone  of 17730 - 17700 and a consecutive close below it is required to confirm further downmove . Bank Nifty expiry for October series is now looking in the range of 17585 - 18025

Levels for tomorrow are

Nifty Spot

Long above 8242 for 8257  – 8267 – 8296

Short below 8223 for 8209 – 8198 - 8170

Bank Nifty Spot

Long above 17838 for 17885 – 17920 – 18014

Short below 17776 for 17727 – 17692 – 17599

P.S. : I might not be able to post regularly for a few days as I am travelling and might not get internet connectivity at times . Will keep updating whenever in good network. 

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .

Tuesday, 27 October 2015

Outlook for 27th November

Nifty spot opened gap up at 8333.65 and made a high of 8336.30 and finally closed at 8260.55 after making a low of 8252.05 . We were expecting Nifty to take resistance in the range of 8330 - 8360 today and Nifty reversed from 8336 .  This week is also the expiry of October series and hence volatality can be expected. Today we saw a freak trade happen in Nifty futures at 8723 in the morning session. Nifty is close to its major resistance level of 8380 and a few closing above it is required to confirm further upmove now.

Bank Nifty spot opened gap up above 18000 and made a high if 18029.05 and then corrected till 17798 and closed at 17815.05 .  Bank Nifty spot is also very close to its major resistance level of 18340 and one should look at holding longs only if we get a couple of closings above it to expect any further upmove above these level . 

Levels for tomorrow are

Nifty Spot

Long above 8270 for 8279  – 8293 – 8321

Short below 8251 for 8241 – 8227 – 8200

Bank Nifty Spot

Long above 17845 for 17880 – 17930 – 18023

Short below 17784 for 17751 – 17700 – 17605

P.S. : I might not be able to post regularly for a few days as I am travelling and might not get internet connectivity at times . Will keep updating whenever in good network. 

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .

Sunday, 25 October 2015

Outlook for 26th October

Nifty spot opened gap up above 8300 at 8308 and made a high of 8328.1 and finally closed at 8295.45 above 8290 after a gap of 40 trading days . We had mentioned in our post for 23rd that it would be interesting to see the price action in the range of 8310 - 8330 . Now on Monday we can expect Nifty to again take resistance in the zone of 8330 - 8360 and one should wait for a close above 8380 spot to stay long. This week is also the expiry of October series and hence volatality can be expected. As per Fridays close we can expect the expiry range to be between 8155 - 8435 spot. Nifty is close to its major resistance level of 8380 and a few closing above it is required to confirm further upmove now.

Bank Nifty spot opened gap up too at 17859 and made a high if 17980.50 before finally closing at 17934.05 . Bank Nifty spot is also very close to its major resistance level of 18340 and one should look at holding longs only if we get a couple of closings above it to expect any further upmove above these level . In our previous post we had posted that we would need a break above 17981 spot and Bank Nifty made a high of 17980.50 .

Levels for tomorrow are

Nifty Spot

Long above 8306 for 8322 – 8338 – 8359

Short below 8285 for 8269 – 8253 – 8232

Bank Nifty Spot

Long above 17992 for 18036 – 18095 – 18151

Short below 17875 for 17830 – 17775 – 17710

P.S. : I might not be able to post regularly for a few days as I am travelling and might not get internet connectivity at times . Will keep updating whenever in good network. 

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .

Saturday, 24 October 2015

Weekly Outlook for 26th - 30th October

NIFTY

Nifty has closed the week at 8295.45 after making a new high for the month at 8328.10 , with nearly a 57 points gain over last week's close  . Nifty spot has managed to close above 8284 after 40 trading sessions

In our last weekly post we had mentioned that Nifty spot gives a close above 8266 then we can expect a move initially til 8330 and above that till 8430 . This week we saw Nifty make a high just below that at 8328.10. Now Nifty has approached a tough resistane zone and it would be important to see how we react from.

In the last week of this month with expiry also due on Thursday in the Derivatives market Nifty spot will need to give a close above 8321 to confirm uptrend continuation and then one can expect a move till 8378 initially and above that till 8464 . Similarly a close below 8270 can make Nifty test lower levels till 8213 initially and a below that till 8126.

Nifty Spot Levels for the week are

Long above 8321 , Tgt 8335 - 8348 - 8369

IF Nifty spot manages to get 2 consecutive close above 8378 then ,

can test 8389 - 8425 - 8465 

Short below 8270 , Tgt 8255 - 8243 - 8222

IF Nifty spot manages to get 2 consecutive close below 8213 then, 

can test 8203 - 8166 - 8126

One should be cautious with their long positions and profit booking is advised on any move above 8330 till near 8360 . One can reenter long positions on getting 2 consecutive close above 8378 spot . Similarly one can also look at taking small short positions once Nifty is in the range of 8330 - 8360 with a small strictly closing basis stoploss  of 8384 as being expiry week wild swings can hit intraday stoploss and hence it is not advisable.

BANK NIFTY

Bank Nifty spot has closed the week at 17934.05 after making a new high for the month at 17980.50, and closed with nearly a 21 points gain over last week. Bank Nifty spot has been trading weak and just managed to test our weekly long level of 17981 mentioned in the post last week.

In the coming week Bank Nifty spot needs to give a consecutive close above 17981 to confirm uptrend continuation and then one can expect a move till 18141 initially and above that till 18381 . Similarly a close below 17844 can make Bank Nifty test lower levels till 17685 initially and below that till 17444 

Bank Nifty Levels for the week are

Long above 18010 , Tgt 18056 - 18093 - 18157

IF Bank Nifty spot manages to get 2 consecutive close above 18185 then 

can test 18217 - 18327 - 18449

Short below 17858 , Tgt  - 17812 - 17775 - 17710

IF Bank Nifty spot manages to get 2 consecutive close below 17684 then 

can test 17651 - 17540 - 17419

One should be cautious with their long positions and profit booking is advised on any move above 18055 till near 18130 . One can reenter long positions on getting 2 consecutive close above 18185 spot . Similarly one can also look at taking small short positions once Nifty is in the range of 18055 - 18130 with a small strictly closing basis stoploss  of 18200 as being expiry week wild swings can hit intraday stoploss and hence it is not advisable.



Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss and also after consulting your financial advisor . 

Thursday, 22 October 2015

Outlook for 23rd October

Nifty opened nearly flat at 8258 and then went on to make a high of 8294.40 just above the previous day high of 8294.05 and then dipped till 8217.15 below the previous day low of 8229.20 and closed the day 10 points below the previous day low at 8251.70 . Tomorrow is a weekly close and also a Gann date so one can expect it to break out of this range of 8215- 8295 in which it has traded in the last 3 days . Looking at the slow pace of fall in the past few days some strength is still left in this upmove and one test of 8310+ can be expected . It would be interesting to see the price action in the range of 8310 - 8330 .

Bank Nifty has been underperforming since the past few days thereby restricting the upmove in the Nifty to a certain extent and closed at a lower level for the week at 17710 and also below the crucial 17827 level which was being held so far this week on closing basis . Bank Nifty spot would need to sustain above 17827 tomorrow and break above 17981 for any big move on the Nifty and being unable to do so can show lower levels


Levels for tomorrow are

Nifty Spot

Long above 8295 for 8316 – 8342– 8362

Short below 8241 for 8216 – 8178 – 8165

Bank Nifty Spot

Long above 17770 for 17815 – 17870 – 17940

Short below 17650 for 17600 – 17550 – 17470


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .

Tuesday, 20 October 2015

Outlook for 21st October

Nifty opened mild gap up as expected but could not sustain after making a high of 8294 for which it took a lot of time intraday and finally drifted down to make a low at 8229.20 before closing at 8261.65 . It is more of a neutral close but still a close below the weekly buy level of 8266 . Tomorrow we have a few results from scrips which are part of the index so one can expect a few swings intraday. In our post yesterday we had written If Nifty spot takes resistance near 8330 levels tomorrow then we may see a retest of 8210 - 8155 , which we are still expecting .

Bank Nifty opened mildly down and went up to make a high of 17940 and then drifted down to once again break the support at 17827 and closed just mildly above it at 17830.25 . This week so far Bank Nifty has been unable to break above our weekly buying level of 17981 even intraday thereby indicating some weakness in the upmove . As mentioned yesterday also breaking and closing below 17827 spot  we would see lower levels in the Bank Nifty
 

Levels for tomorrow are

Nifty Spot

Long above 8276 for 8290 – 8305 – 8327

Short below 8247 for 8234 – 8218 – 8196

Bank Nifty Spot

Long above 17865 for 17935 – 17990 – 18050

Short below 17795 for 17725 – 17670 – 17610


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .

Monday, 19 October 2015

Outlook for 20th October

After Fridays close Nifty gave a follow up move today and closed at 8275 after making a high of 8283 . Nifty closed well above 8266 which can lead to a gap up tomorrow and it would be interesting to see if Nifty can break above 8300 and test the resistance at 8321 - 8330 as mentioned in our outlook for this week . If a breakout has actually taken place on the upside it should get confirmed in the next days , most probably tomorrow with a close above 8330 .Also tomorrow is a gann turn date and it would be interesting to see how we close. Today Nifty closed higher mainly due to out performance of Reliance after it posted a better than expected results. If Nifty spot takes resistance near 8330 levels tomorrow then we may see a retest of 8210 - 8155 . 

Bank Nifty also opened with a slight gap up but could not sustain above Fridays high and also did not trigger our long level and slipped down to close the day at 17855 nearly 57 points down from Fridays close on a day when Nifty gave a good close .We had mentioned that consecutive close above Fridays close is required to confirm further upmove in bank nifty. Bank Nifty today tested its previous resistance now turned support level of 17827 and reversed from there today . Breaking and closing below that level we would see lower levels.
 
For tomorrow Nifty spot has initial resistance at 8290 - 8321 levels , breaking and sustaining above it Nifty can test 8351 - 8366 levels . Similarly Nifty spot has initial support  at 8260 - 8230 levels , breaking and sustaining below it Nifty can test 8199 - 8184 levels. Today was a slow day and Nifty gave us 30 points once long call got initiated . Bank Nifty did not give any long call but a short call towards the end which did not allow a chance to initiate trade as Nifty was in the opposite direction.


Levels for tomorrow are

Nifty Spot

Long above 8287 for 8305 – 8325 – 8349

Short below 8263 for 8244 – 8226 – 8201

Bank Nifty Spot

Long above 17925 for 17950 – 17975 – 18115

Short below 17785 for 17760 – 17735 – 17600


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .

Sunday, 18 October 2015

Outlook for 19th October

On Friday Nifty recovered well from the days low of 8147 and gave a quick move of nearly 100 points towards the end of the trading session. We had mentioned in our post for 16th October that 'it would be interesting to see how the market reacts once it nears 8225 - 8245 resistance levels where selling have been witnessed in this series so far' .The week ended on a positive note with Nifty closing at 8238.15,  close to the day high of 8246.40 indicating further upmove is possible in the days to come on getting a consecutive close above these levels. 

Bank Nifty also finally broke out above 17828 which it was unable to do so till now this month and made a new high for October at 17947 before closing the day at 17912 also indicating further upmove is possible in the days to come on getting a consecutive close above these levels.

For tomorrow Nifty spot has initial resistance at 8253 - 8284 levels , breaking and sustaining above it Nifty can test 8314 - 8329 levels . Similarly Nifty spot has initial support  at 8223 - 8193 levels , breaking and sustaining below it Nifty can test 8163 - 8148 levels. Today Nifty gave us 50 points once our long call got triggered and Bank Nifty also completed all 3 targets on the long side and gave us nearly 215 points once our long call got triggered

Levels for tomorrow are

Nifty Spot

Long above 8251 for 8270 – 8290 – 8315

Short below 8225 for 8206 – 8186 – 8160

Bank Nifty Spot

Long above 17985 for 18040 – 18110 – 18180

Short below 17840 for 17785 – 17715 – 17645


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Saturday, 17 October 2015

Weekly Outlook for 19th - 23rd October

NIFTY

Nifty has closed the week at 8238.15 after making a new high for the month at 8246.4 , with nearly a 48 points gain over last week's close  . Nifty spot has managed to close above 8200 after 37 trading sessions

In the coming week Nifty spot needs to give a close above 8266 to confirm uptrend continuation and then one can expect a move till 8330 initially and above that till 8430   . Similarly a close  below 8210 can make Nifty test lower levels till 8145 initially and below that till 8045 


Nifty Spot Levels for the week are

Long above 8266 , Tgt 8283 - 8297 - 8321

IF Nifty spot manages to get 2 consecutive close above 8331 then ,

can test 8343 - 8384 - 8430 

Short below 8210 , Tgt 8193 - 8179 - 8155

IF Nifty spot manages to get 2 consecutive close below 8145 then, 

can test 8134 - 8093 - 8048

BANK NIFTY

Bank Nifty spot has closed the week at 17912.85 after making a new high for the month at 17947.75, and closed with nearly a 323 points gain over last week. Bank Nifty spot has managed to close above 17900 after 37 trading sessions

In the coming week Bank Nifty spot needs to give a consecutive close above 17981 to confirm uptrend continuation and then one can expect a move till 18141 initially and above that till 18381 . Similarly a close below 17844 can make Bank Nifty test lower levels till 17685 initially and below that till 17444 

Bank Nifty Levels for the week are

Long above 17981 , Tgt 18024 - 18092 - 18116

IF Bank Nifty spot manages to get 2 consecutive close above 18141 then 

can test 18170 - 18271 - 18382

Short below 17844 , Tgt  - 17802 - 17768 - 17709

IF Bank Nifty spot manages to get 2 consecutive close below 17685 then 

can test 17656 - 17555 - 17444



Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss and also after consulting your financial advisor . 

Friday, 16 October 2015

Outlook for 16th October

Today Nifty spot opened near 8134 above our buy level and also crossed and sustained above 8139 throughout the day and closed at 8179 near the high of the day . Now we need to see the close tomorrow to decide the direction  for next week . Tomorrow is a gann date as well as a weekly close and also a big result of Reliance is due tomorrow. It would be interesting to see how the market reacts once it near 8225 - 8245 resistance levels where selling have been witnessed in this series so far .

Bank Nifty spot has also been unable to go beyond 17828 in the last 8 trading days . Tomorrow price action near 17800 - 17832 on the Bank Nifty spot should be closely watched . Unable to break above it once again and we can see some intraday correction coming in.

For tomorrow Nifty spot has initial resistance at 8195 - 8225 levels , breaking and sustaining above it Nifty can test 8255 - 8270 levels . Similarly Nifty spot has initial support  at 8164 - 8134 levels , breaking and sustaining below it Nifty can test 8104 - 8089 levels. Today Nifty opened above our buying level by 15 points and completed all targets on the long side giving us 55 points . Bank Nifty also completed 2 targets on the long side and gave us nearly 150 points

Levels for tomorrow are

Nifty Spot

Long above 8195 for 8212 – 8231 – 8257

Short below 8164 for 8147 – 8128 – 8102

Bank Nifty Spot

Long above 17730 for 17805 – 17875 – 17945

Short below 17640 for 17565 – 17495 – 17430


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Wednesday, 14 October 2015

Outlook for 15th October

Yesterday I was not able to post levels for 14th October due to internet connectivity issue , please accept my apologies for the same.

Today Nifty spot opened gap down by nearly 30 points and made a high of 8139.30 before closing at 8107.9 after trading in a tight range of 50 points the entire day . Yesterday we had closed below 8139 spot that is below our weekly support level of 8139  and also our positional shorting level on a weekly basis ( as mentioned in our weekly outlook posted on 11th October )  and today was unable to break above it indicating some weakness. As long as we are closing below 8139 spot one can stay short and this view will get negated only with  2 consecutive close above 8139 spot on Nifty .

Bank Nifty is also unable to go higher for the past few trading sessions showing signs of tiredness. One should closely watch breaking below 17415 spot, as it will increase pressure to move further on the downside . 

For tomorrow Nifty spot has initial resistance at 8123 - 8153 levels , breaking and sustaining above it Nifty can test 8183 - 8198 levels . Similarly Nifty spot has initial support  at 8093 - 8063 levels , breaking and sustaining below it Nifty can test 8033 - 8012 levels. 

Levels for tomorrow are

Nifty Spot

Long above 8123 for 8141 – 8162 – 8189

Short below 8093 for 8074 – 8054 – 8027 

Bank Nifty Spot

Long above 17590 for 17675 – 17750 – 17820

Short below 17499 for 17415 – 17340 – 17265


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Tuesday, 13 October 2015

Outlook for 13th October

Today Nifty opened gap up at 8231 near the high made on Friday and made a high of 8244 which is the highest intraday level in the last 33 trading sessions since 21st August. Nifty could not sustain at the higher levels and came down more than 100 points from the intraday high and closed also nearly 100 points down from the intraday high. Nifty has resistance now at 8225 - 8255 zone and closing above this zone is required for continuation of upmove till levels of  8320 - 8350 spot

Bank Nifty was stronger today and closed just 7 points below Fridays close after making a high of 17759 . Bank Nifty is also facing resistance at 17760 - 17830 zone and needs to close above it for further upmove . It has been trading in a range of 17400 - 17830 since the past 5 trading sessions and a break of this range can be expected soon.

The result season has begun and one can expect a lot of volatility based on result reactions and now more stock specific action would be seen in the days to come.

For tomorrow Nifty spot has initial resistance at 8159 - 8189 levels , breaking and sustaining above it Nifty can test 8219 - 8235 levels . Similarly Nifty spot has initial support  at 8128 - 8098 levels , breaking and sustaining below it Nifty can test 8068 - 8053 levels. Today Nifty completed two targets on the shortside after opening gap up near our first target on the long side.

Levels for tomorrow are

Nifty Spot

Long above 8160 for 8182 – 8205 – 8236 

Short below 8128 for 8105 – 8082 – 8051 

Bank Nifty Spot

Long above 17629 for 17679 – 17734 – 17821

Short below 17537 for 17486 – 17431 – 17344


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Monday, 12 October 2015

Outlook for 12th October

In our post for 09th October we had mentioned that We still are of the same opinion as said in the last 2 days  that as long as 8090 is held Nifty can make another attempt to cross 8200 and test 8225. Nifty opened at 8186 and broke out of the resistance zone and made a high of 8232.2 and after seeing some profit booking settled to close at 8189.70 just above the opening price

Bank Nifty also moved slightly higher and closed at 17590 after making a high of 17749. It failed to take out the high made on 06th Oct of 17827 inspite of Nifty making a new high for the week .

After a positive week now it would be interesting to see if Nifty can sustain this upmove in the week to come . The week begins with Infosys quarterly results being declared which could set the tone for the day and week . 

For tomorrow Nifty spot has initial resistance at 8205 - 8235 levels , breaking and sustaining above it Nifty can test 8265 - 8280 levels . Similarly Nifty spot has initial support  at 8174 - 8144 levels , breaking and sustaining below it Nifty can test 8114 - 8099 levels. On Friday Nifty completed all  targets on the long side and the Bank Nifty completed 2 targets on the long side .


Levels for tomorrow are

Nifty Spot

Long above 8205 for 8229 – 8253 – 8268 - 8284

Short below 8174 for 8150 – 8127 – 8111 - 8095

Bank Nifty Spot

Long above 17683 for 17756 – 17849 – 17942

Short below 17495 for 17425 – 17330 – 17240


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Sunday, 11 October 2015

Weekly Outlook for 12th - 16th October


NIFTY

Nifty has closed the week at 8179.9 after making a new high for the week at 8232.2 , with nearly a 238 points gain over last week . Nifty managed to break above 8200 after 32 trading sessions

In the coming week Nifty spot needs to give a close above 8240 to confirm uptrend continuation . Similarly 2 consecutive close  below 8139 can make Nifty test lower levels


Nifty Levels for the week are

Long above 8240 , Tgt 8271 - 8296 - 8339

IF Nifty spot manages to get 2 consecutive close above 8357 then ,

can test 8378 - 8453 - 8534 

Short below 8139 , Tgt 8108 - 8083 - 8040

IF Nifty spot manages to get 2 consecutive close below 8022 then, 

can test 8000 - 7926 - 7845

BANK NIFTY

Bank Nifty has closed the week at 17590.25 after making a new high for the week at 17827.15 on 06th Oct , and closed with nearly a 440 points gain over last week. It has been unable to break above 17827 in the last few days inspite of a positive market. So price action should be closely watched near 17820 levels

Bank Nifty Levels for the week are

Long above 17714 , Tgt 17790 - 17852 - 17958

IF Bank Nifty spot manages to get 2 consecutive close above 18005 then 

can test 18056 - 18239 - 18439

Short below 17466 , Tgt  - 17389 - 17327 - 17221

IF Bank Nifty spot manages to get 2 consecutive close below 17177 then 

can test 17124 - 16941 - 16740



Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Thursday, 8 October 2015

Outlook for 09th October

We have been mentioning in our previous 2 posts that Nifty spot has resistance at 8168 - 8198 zone and today once again Nifty was unable to cross this zone and after making a high of 8196.75 today at opening Nifty traded lower throughout the day. We still are of the same opinion as said in the last 2 days  that as long as 8090 is held Nifty can make another attempt to cross 8200 and test 8225.

Bank Nifty after under performing for the last couple of days today moved lower with Nifty in sync and it needs to be seen how it plays out tomorrow too . Breaking and sustaining below 17320 spot will increase pressure on the short side.

Though the current trend in Nifty spot is positive above 8085 for this week , tomorrow being the last day of this week Nifty might test 8085 levels tomorrow . Positional longs now need watch the price action in the zone of 8095 - 8078 spot as breaking and sustaining below it Nifty can correct further.

For tomorrow Nifty spot has initial resistance at 8144 - 8174 levels , breaking and sustaining above it Nifty can test 8205 - 8220 levels . Similarly Nifty spot has initial support  at 8114 - 8084 levels , breaking and sustaining below it Nifty can test 8054 - 8039 levels. Today Nifty completed 2 targets on the short side and gave nearly 50 points after short call got triggered and the Bank Nifty gave nearly than 175 points once the short call got triggered .


Levels for tomorrow are

Nifty Spot

Long above 8145 for 8168 – 8192 – 8207 - 8223

Short below 8114 for 8090 – 8067 – 8051 - 8036

Bank Nifty Spot

Long above 17570 for 17640 – 17735 – 17825

Short below 17380 for 17310 – 17215 – 17125


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Outlook for 08th October

We had mentioned in our post yesterday that Nifty spot has initial resistance at 8168 - 8198 zone and today again Nifty was unable cross it and made a high of 8188 and gave a better close than yesterday at 8177. We still are of the same opinion as  said yesterday that as long as 8090 is held Nifty can make another attempt to cross 8200 and test 8225.

Bank Nifty again under performed the broader market today and gave a flattish close with a 10 point gain over yesterday . Bank Nifty will need to participate and cover the gap for Nifty to break above 8200 and test 8225 tomorrow .

Though the current trend is positive above 8085 spot , longs need to be cautious if Nifty nears 8210 - 8225 levels as long term trend is still negative and being unable to sustain above it one may see some selling pressure. Tomorrow we have Chinese markets opening after a gap of 7 days and it would be watched closely.

Nifty spot has initial resistance at 8193 - 8223 , breaking and sustaining above it Nifty can test 8253 - 8268 levels . Similarly Nifty spot has initial support  at 8162 - 8132 , breaking and sustaining below it Nifty can test 8102 - 8088 levels


Levels for tomorrow are

Nifty Spot

Long above 8193 for 8216 – 8239 – 8255 - 8270

Short below 8162 for 8138 – 8115 – 8100 - 8084

Bank Nifty Spot

Long above 17710 for 17783 – 17876 – 17969 

Short below 17523 for 17451 – 17358 – 17264 


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Wednesday, 7 October 2015

Outlook for 07th October

Today Nifty spot opened gap up near 8180 and traded below it the entire day and finally gave a close at 8152.90 after making a low of 8096.50 . As long as 8090 - 8080 is held Nifty can make another attempt to cross 8200 and test 8225 . 

Bank Nifty too opened gap up near 17822 and traded below it and finally gave a close of 17605 and after making a low of 17493 . Bank Nifty under performed today again by giving a negative close in comparison to Nifty. Bank Nifty will need to participate for Nifty to break and sustain above 8200.

Though the current trend is positive above 8085 spot , longs need to be cautious if Nifty nears 8210 - 8225 levels as overall trend is still negative and being unable to sustain above it one may see selling pressure.

Incase of a gap up opening Nifty spot has initial resistance at 8168 - 8198 , breaking and sustaining above it Nifty can test 8228 - 8243 levels . Similarly incase of a gap down Nifty spot has initial support  at 8138 - 8108 , breaking and sustaining below it Nifty can test 8078 - 8063 levels


Levels for tomorrow are

Nifty Spot

Long above 8169 for 8193 – 8217 – 8249 

Short below 8137 for 8112– 8089 – 8057 

Bank Nifty Spot

Long above 17705 for 17778– 17875 – 17975 

Short below 17505 for 17430 – 17335 – 17235 


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss . 

Tuesday, 6 October 2015

Outlook for 06th October

We had mentioned in our post yesterday that Bank Nifty has been under performing since the last couple of days and is moving in a range of 350 points between 17100 - 17450, breaking on either side should be watched for a move in Nifty too and today it moved up and participated in the upmove and helped Nifty break above the congestion zone of 8023 - 8068 and also break and close above 8100 . This is the first close above 8000 since 28th August and the first above 8100 since 24th August . Nifty has taken 27 days to give a close above 8100 again.

Today's closing was bullish and a continuation of the upmove in the next few days cannot be ruled out with global markets also beginning to support . 

Incase of a gap up opening Nifty spot has initial resistance at 8134 - 8165 , breaking and sustaining above it Nifty can test 8195 - 8210 levels . Similarly incase of a gap down Nifty spot has initial support  at 8104 - 8074 , breaking and sustaining below it Nifty can test 8044 - 8030


Levels for tomorrow are

Nifty Spot

Long above 8136 for 8184 – 8200 – 8220 , SL 8103

Short below 8103 for 8054 – 8038 – 8022 , SL 8103

Bank Nifty Spot

Long above 17770 for 17845 – 17941 – 18035 , SL 17575

Short below 17575 for 17505 – 17410 – 17310 , SL 17770


To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

Disclaimer : These are my personal views and trades taken on them should be done with a strict Stop loss .