Monday, 30 November 2015

Outlook for 01st December

Nifty spot opened at 7936.25 made a low of 7922.80 and finally closed at 7935.20 after making a high of 7966 . As we had mentioned in our previous post that ' Nifty is now at a crucial zone and a consecutive closing above 7966 is required to open doors upto 8050 - 8160 in the coming week'. Nifty reversed exactly from 7966 today and it would interesting to see whether it breaks and sustains above it tomorrow .Nifty should not break below 7845 as it would open doors again for 7720 and below

For tomorrow Nifty spot has resistance on the upside near 7953 - 7966 ,sustaining above 7980 is required to test 8010 - 8025 levels . Similarly Nifty spot has support on the downside near 7920 - 7910 and breaking and sustaining below 7890 we can retest 7861 - 7846

Bank Nifty spot closed at 17430.40,  higher by nearly 60 points compared to the previous day . Bank Nifty finally crosses 17449 and made a new high for November at 17498.35 and also gave a close above 17400 . In our previous post had mentioned that "If it manages to cross it and sustain above 17500 then good amount of short covering can be witnessed and it can move to 18000 levels"  and today it was missed by 2 points . It would be interesting to see whether 17500 gets broken and sustained tomorrow.

Levels for tomorrow are

Nifty Spot

Long above 7948 for 7955 - 7961 - 7972

Stay long above 7977 for 7981 - 7999 - 8019

Short below 7922 for 7915 - 7909 - 7898

Stay Short below 7894 for 7889 - 7871 - 7851

Bank Nifty Spot

Long above 17474 for 17501 – 17525 – 17560

Stay long above 17576 for 17595 - 17660 - 17730

Short below 17385 for 17360 – 17335 – 17300

Stay short below 17285 for 17265- 17200 - 17130


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 30th November

Nifty spot opened at 7910.6 made a low of 7879.45 and finally closed at 7942.70 after making a high of 7959.30 . We had mentioned in our post for 26th that Nifty has been trading in a very tight range which should be broken either tomorrow on expiry day or on Friday.  Nifty is now at a crucial zone and a consecutive closing above 7966 is required to open doors upto 8050 - 8160 in the coming week. Now Nifty should not break below 7810 and breaking below it we can test 7730 again and below that 7540 can get tested .

For tomorrow Nifty spot has resistance on the upside near 7958 - 7969 ,sustaining above 7887 is required to test 8017 - 8032 levels . Similarly Nifty spot has support on the downside near 7928 - 7916 and breaking and sustaining below 7898 we can retest 7869 - 7854

Bank Nifty spot also closed at 17370.95,  higher by nearly 340 points compared to the previous day . Bank Nifty had been facing selling pressure every time it has crossed 17100 of late . It would be interesting to see now if Bank Nifty can manage to cross and close above 17449 which is the high for the November month so far . If it manages to cross it and sustain above 17500 then good amount of short covering can be witnessed and it can move to 18000 levels 

Levels for tomorrow are

Nifty Spot

Long above 7955 for 7963 - 7869 - 7979

Stay long above 7984 for 7989 - 8007 - 8027

Short below 7930 for 7922 - 7916 - 7906

Stay Short below 7901 for 7896 - 7878 - 7858

Bank Nifty Spot

Long above 17420 for 17445 – 17470 – 17510

Stay long above 17530 for 17550 - 17615 - 17690

Short below 17320 for 17295 – 17270 – 17230

Stay short below 17215 for 17195 - 17125 - 17050


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, 29 November 2015

Weekly Outlook for 30th Nov to 04th Dec




Nifty spot met 2 targets on upside for this week as per the previous weekly outlook and it would now need to sustain above 7976 for testing 8051 and above that 8166 levels.


NIFTY

Nifty spot has closed the week at 7942.70 after making a weekly low at 7812.65 , with nearly a 86 points gain over last week's close  .We had mentioned to go short below 7810 for the week which was saved by 2 points. Nifty spot completed 2 targets on upside for this week as mentioned in our outlook last week , now it would be interesting to see if it can follow up on the upmove this week by crossing 7980 and attempt to touch 8050 and above .

In the coming week Nifty spot needs to give a consecutive close above 7975 to confirm uptrend and then one can expect a move till 8040 initially and above that till 8165 . Similarly a consecutive close below 7910 can make Nifty test lower levels till 7845 initially and below that till 7720 

Nifty Spot Levels for the week are

Long above 7976, Tgt  7996 - 8012 - 8040

IF Nifty spot manages to get 2 consecutive close above 8052 then ,

long again for 8065 - 8113 - 8166

Short below 7910 , Tgt 7890 - 7874 - 7845

IF Nifty spot manages to get 2 consecutive close below 7834 then, 

short again for 7820 - 7772 - 7720


BANK NIFTY

Last week we had mentioned to go long in Bank Nifty spot above 17098 for a target of 17347 spot and all targets have been met for the week. We had mentioned to go short below 16940 which was saved for the week.

Bank Nifty spot finally managed to get a close at 17370.95 which is the highest close for the month of November 2015 . It closed at 17354.40 on 01st November and after that was unable to close above it the entire series as it was facing selling pressure at these levels . We still need to break above 17450 and sustain for further upmove.

In the coming week Bank Nifty spot needs to give a consecutive close above 17098 to confirm uptrend and then one can expect a move till 17182 initially and above that till 17345 . Similarly a consecutive close below 17010 can make Bank Nifty test lower levels till 16925 initially and below that till 16765 

Bank Nifty Levels for the week are

Long above 17495 , Tgt 17571 - 17635 - 17740

IF Bank Nifty spot manages to get 2 consecutive close above 17785 then 

long again for 17835 - 18020 - 18220

Short below 17245 , Tgt  - 17170 - 17105 - 17045

IF Bank Nifty spot manages to get 2 consecutive close below 16955 then 

short again 16905 - 16725 - 16525

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, 25 November 2015

Outlook for 26th November

Nifty spot opened at 7837 made a high of 7870 and finally closed at 7831.60 after making a low of 7812.65 . Nifty has been trading in a very tight range which should be broken either tommorow on expiry day or on Friday.   We still maintain the view mentioned a few days ago that 'If Nifty gives 2 consecutive close below 7730 then it can cause further correction till 7660 - 7540 in the days to come'.

For tomorrow Nifty spot has resistance on the upside near 7846 - 7857 ,sustaining above 7876 is required to test 7906 - 7920 levels . Similarly Nifty spot has support on the downside near 7817 - 7806 and breaking and sustaining below 7787 we can retest 7758 - 7743

Tommorow is November series expiry in F&O and in Nifty one expect expiry to be on the lower end near 7766 and the on upper end near 7900.

Bank Nifty spot also closed lower by nearly 70 points compared to the previous day.  Bank Nifty has been facing selling pressure everytime it has crossed 17100 of late . It looks like Bank Nifty might find it difficult to cross 17500 levels and only a strong move above it can take it any higher .

Tommorow is November series expiry in F&O and in Bank Nifty one expect expiry to be on the lower end near 16840 and on the upper end near 17135.

Levels for tomorrow are

Nifty Spot

Long above 7845 for 7853 - 7859 - 7870

Stay long above 7875 for 7880 - 7899 - 7920

Short below 7818 for 7810 - 7804 - 7793

Stay Short below 7788 for 7783 - 7764 - 7743

Bank Nifty Spot

Long above 17030 for 17055 – 17075 – 17110

Stay long above 17125 for 17140 - 17200 - 17265

Short below 16945 for 16920 – 16900 – 16870

Stay short below 16850 for 16835 - 16775 - 16710


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, 23 November 2015

Outlook for 23rd November

Nifty spot opened at 7841.90 made a high of 7906.75 and finally closed at 7856.55 after making a low of 7817.80 .  A few days ago we had mentioned that 'If Nifty gives 2 consecutive close below 7730 then it can cause further correction till 7660 - 7540 in the days to come'. Nifty went below 7730 on 2 occasions last week but did not give a close below 7730 and reversed from those levels and has been slowly moving up .Today Nifty gave a good weekly close at 7856,  comfortably above 7850 and also held 7800 through the day.

Will Nifty be able to sustain the upmove this week will be interesting to watch . We also have a truncated expiry this week with a holiday on Wednesday , so one can expect some action in the second half tomorrow. Incase of any upmove stiff resistance can be expected in the range of 7940 - 7970 . Any close above 7966 spot can trigger further upmove till 8160

For tomorrow Nifty spot has resistance on the upside near 7871 - 7882 ,sustaining above 7901 is required to test 7931 - 7945 levels . Similarly Nifty spot has support on the downside near 7841 - 7831 and breaking and sustaining below 7810 we can retest 7783 - 7768

Bank Nifty spot was weak and closed lower by 15 points compared to the previous day . Bank nifty has been facing selling pressure near 17300 levels and breaking and sustaining above 17450 is required for further upmove  

Levels for tomorrow are

Nifty Spot

Long above 7873 for 7883 - 7892 - 7906

Stay long above 7912 for 7920 - 7944 - 7971

Short below 7840 for 7829 - 7820 - 7807

Stay Short below 7801 for 7794 - 7769 - 7743

Bank Nifty Spot

Long above 17098 for 17125 – 17146 – 17182

Stay long above 17198 for 17216 - 17279 - 17347

Short below 17010 for 16985 – 16965 – 16925

Stay short below 16914 for 16895 - 16832 - 16763


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, 22 November 2015

Weekly Outlook for 23rd - 27th November


This is a truncated expiry week for November with a trading holiday on Wednesday so good amount of action can be witnessed this week . Bank Nifty spot has been taking resistance between 17300 - 17450 zone and has been unable to cross it till now in the month of November and it would interesting to see if it can do it in the last week of November . Nifty would need participation from Bank Nifty to move and sustain above 7966 else we can expect selling coming in once again

NIFTY

Nifty has closed the week at 7856.55 after making a weekly low at 7714.15 , with nearly a 94 points gain over last week's close  . Nifty spot completed all initital targets on upside for this week as mentioned in our outlook last week , now it would be interesting to see if it can follow up on the upmove this week and attempt to touch 7980 .

As mentioned in the last weekly outlook " Nifty is now at a crucial support zone of 7730 , if closes below this then 7540 can be tested . Holding 7730 and closing above 7795  we can expect a bounce till 7980" .

In the coming week Nifty spot needs to give a consecutive close above 7901 to confirm uptrend and then one can expect a move till 7988 initially and above that till 8158 . Similarly a consecutive close below 7810 can make Nifty test lower levels till 7726 initially and below that till 7556 

Nifty Spot Levels for the week are

Long above 7901, Tgt  7928 - 7950 - 7972

IF Nifty spot manages to get 2 consecutive close above 8005 then ,

long again for 8022 - 8087 - 8158 

Short below 7810 , Tgt 7785 - 7763 - 7741

IF Nifty spot manages to get 2 consecutive close below 7710 then, 

short again for 7691 - 7626 - 7555


BANK NIFTY

Bank Nifty spot has closed the week at 17055.60 after making a weekly high of 17302.55 at the start of the week, and closed with nearly a 123 point gain over last week. Bank Nifty spot has been trading weaker than the Nifty last week.

In the coming week Bank Nifty spot needs to give a consecutive close above 17098 to confirm uptrend and then one can expect a move till 17182 initially and above that till 17345 . Similarly a consecutive close below 17010 can make Bank Nifty test lower levels till 16925 initially and below that till 16765 

Bank Nifty Levels for the week are

Long above 17098 , Tgt 17125 - 17146 - 17168

IF Bank Nifty spot manages to get 2 consecutive close above 17198 then 

long again for 17216 - 17279 - 17347

Short below 17010 , Tgt  - 16985 - 16965 - 16940

IF Bank Nifty spot manages to get 2 consecutive close below 16910 then 

short again 16895 - 16835 - 16765

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 .

Thursday, 19 November 2015

Outlook for 19th October

Nifty spot opened at 7823.15 made a high of 7843 and finally closed at 7731.8 after making a low of 7725.65.  A few days ago we had mentioned that 'If Nifty gives 2 consecutive close below 7730 then it can cause further correction till 7660 - 7540 in the days to come'. Today Nifty gave a borderline close at 7731.80 and any dip tomorrow will add further pressure on the down side . One can expect some good moves tommorow.

For tomorrow Nifty spot has resistance on the upside near 7746 - 7757 ,sustaining above 7776 is required to test 7805 - 7820 levels . Similarly breaking and sustaining below 7688 we can retest 7658 - 7644

Bank Nifty spot opened at 17108.90 and made a high of 17186.70 and closed at 16812.10 after making a low of 16787.55 . Today bank nifty saw good selling coming in and closed nearly 320 points lower . 

Levels for tomorrow are

Nifty Spot

Long above 7747 for 7762 - 7786 - 7820

Short below 7717 for 7700 - 7677 - 7632

Bank Nifty Spot

Long above 16855 for 16895 – 16962 – 17085

Short below 16770 for 16725 – 16660 – 16535

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, 18 November 2015

Outlook for 18th November

Nifty spot opened at 7848.75 made a low of 7793 and finally closed at 7837.55 after making a high of 7860.45 .  A few days ago we had mentioned that 'If Nifty gives 2 consecutive close below 7730 then it can cause further correction till 7660 - 7540 in the days to come'. Today again Nifty held 7793 below which our shorts would have been activated and rebounded from there and managed to give a close above 7830 thereby giving further hopes to bulls.

For tomorrow Nifty spot has resistance on the upside near 7864 - 7880 ,sustaining above 7882 is required to test 7911 - 7924 levels . Similarly breaking and sustaining below 7790 we can retest 7764 - 7750

Bank Nifty spot opened at 17302.50 which was also the high for the day and made a low of 17028.20 and closed at 17140.45 down by 45 points compared to the previous close . 

Levels for tomorrow are

Nifty Spot

Long above 7852 for 7866 - 7888 - 7930

Short below 7824 for 7808 - 7786 - 7745

Bank Nifty Spot

Long above 17174 for 17212 – 17267 – 17372

Short below 17106 for 17068 – 17010 – 16910

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, 17 November 2015

Outlook for 17th November

Nifty spot opened at 7732.95 , made a low of 7714.15 and finally closed at 7806.60 after making a high of 7838.85 . Nifty managed to trade in the green after the initial 2 hours of trade and closed higher by nearly 45 points . Yesterday we had mentioned that 'If Nifty gives 2 consecutive close below 7730 then it can cause further correction till 7660 - 7540 in the days to come'. Today Nifty rebounded from the day low and managed to give a close above 7800 thereby giving small hopes to bulls.

For tomorrow Nifty spot has resistance on the upside near 7832 - 7850 ,sustaining above 7851 is required to test 7880 - 7890 levels . Similarly breaking and sustaining below 7760 we can retest 7733 - 7718

Bank Nifty spot opened at 16891.30 and made a low of 16887.80 and moved up gradually to make a high of 17229.25 and closed at 17184.90 . Today again Bank Nifty was stronger than Nifty and lead the recovery from the days low 

Levels for tomorrow are

Nifty Spot

Long above 7820 for 7840 - 7852 - 7885

Short below 7793 for 7772 - 7757 - 7717

Bank Nifty Spot

Long above 17220 for 17260 – 17310 – 17415

Short below 17150 for 17105 – 17055 – 16950

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, 15 November 2015

Outlook for 16th November

Friday Nifty spot opened at 7762.45 and closed at 7762.25 after making a low of 7730.90 and a high of 7775.10 . Nifty traded in the narrow range throughout the day. If Nifty gives 2 consecutive close below 7730 then it can cause further correction till 7660 - 7540 in the days to come.

For tomorrow Nifty spot has resistance on the upside near 7787 - 7807 ,sustaining above 7807 is required to test 7835 - 7850 levels . Similarly breaking and sustaining below 7718 we can retest 7689 - 7674 .

Bank Nifty spot opened at 16829.30 and made a low of 16741.80 and moved up gradually to make a high of 16962.55 and closed at 16932.85 . Bank Nifty outperformed the Nifty and traded stronger.

Lot of negative news coming from around the world regarding terrorist attacks . Our prayers for all the families who have suffered because of it .

Levels for tomorrow are

Nifty Spot

Long above 7774 for 7797 - 7814 - 7835

Short below 7750 for 7727 - 7710 - 7690

Bank Nifty Spot

Long above 16960 for 17010 – 17065 – 17110

Short below 16900 for 16860 – 16800 – 16760

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 

Weekly Outlook for 16th - 20th November

In the last weekly outlook posted on 24th Oct for the expiry week , had mentioned caution on longs and profit booking in Nifty in the range of 8330 - 8360 & Bank Nifty in the range of 18055 - 18130. Nifty made high of 8341.95 and has retraced till 7730.90 & Bank Nifty made a high of 18029.05 and has retraced till 16587. 


NIFTY

Nifty has closed the week at 7762.25 after making a low at 7730.90 , with nearly a 192 points loss over last week's close  . Nifty spot has managed to below 7770 after 43 trading sessions

Nifty is now at a crucial support zone of 7730 , if closes below this then 7540 can be tested . Holding 7730 and closing above 7795  we can expect a bounce till 7980 .

In the coming week Nifty spot needs to give a consecutive close above 7795 to confirm uptrend and then one can expect a move till 7845 initially and above that till 7980 . Similarly a close below 7730 can make Bank Nifty test lower levels till 7670 initially and below that till 7550 

Nifty Spot Levels for the week are

Long above 7793 , Tgt  7812 - 7827 - 7843

IF Nifty spot manages to get 2 consecutive close above 7865 then ,

long again for 7878 - 7923 - 7973 

Short below 7730 , Tgt 7712 - 7697 - 7681

IF Nifty spot manages to get 2 consecutive close below 7660 then, 

short again for 7646 - 7601 - 7552


BANK NIFTY

Bank Nifty spot has closed the week at 16932.85 after making a low of 16587 at the start of the week, and closed with nearly a 153 point loss over last week. Bank Nifty spot has been trading stronger than the Nifty last week.

In the coming week Bank Nifty spot needs to give a consecutive close above 17000 to confirm uptrend and then one can expect a move till 17150 initially and above that till 17380 . Similarly a consecutive close below 16860 can make Bank Nifty test lower levels till 16725 initially and below that till 16475 

Bank Nifty Levels for the week are

Long above 17000 , Tgt 17040 - 17075 - 17110

IF Bank Nifty spot manages to get 2 consecutive close above 17155 then 

long again for 17180 - 17280 - 17385

Short below 16860 , Tgt  - 16825 - 16790 - 16760

IF Bank Nifty spot manages to get 2 consecutive close below 16710 then 

short again 16685 - 16590 - 16480

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, 10 November 2015

Outlook for 10th November

Friday Nifty spot breaking 7940 was an indication that we might go down . Election results declared on Sunday caused the gap down opening of nearly 165 points . Nifty made a low of 7771.70 and recovered through the day to close just 39 points negative after making a high of 7937.75 . For any bounce back toward 8100 levels todays low has to be held , breaking which we can may a new low for the year.

Nifty spot has resistance on the upside near 7988 - 8008 , consecutive closing above these levels is required to test 8078 - 8098 levels . Similarly breaking and closing below 7740 we can retest 7667 - 7540 .

Bank Nifty spot opened at 16621 and made a low of 16587.25 and moved up gradually to make a high of 17068.2 and closed at 17003 .Bank Nifty as mentioned in the previous posts is having good resistance near 17500  zone and bulls will need to give consecutive close above it for any further upmove.

Levels for tomorrow are

Nifty Spot

Long above 7926 for 7942 - 7959 - 7980

Short below 7904 for 7888 - 7872 - 7850

Bank Nifty Spot

Long above 17064 for 17115 – 17170 – 17245

Short below 16940 for 16890 – 16830 – 16760

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, 4 November 2015

Outlook for 5th November

Nifty spot opened gap up at 8104.90 and finally closed at 8040.20 near the day's low of 8027.30 after making a high of 8116 at opening . Nifty after opening gap up could not sustain above 8100 and the gap up got sold indicating good resistance near 8120 zone

Bank Nifty spot opened at 17449 and closed at 17221 after making a low of  17175.65. Bank Nifty is having good resistance near 17500  zone and bulls will need to give consecutive close above it for any further upmove 

Levels for tomorrow are

Nifty Spot

Long above 8047  for 8055 - 8066 - 8088

Short below 8033 for 8025 - 8013 - 7992

Bank Nifty Spot

Long above 17261 for 17310 – 17375 – 17501

Short below 17180 for 17134 – 17065 – 16940

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, 3 November 2015

Outlook for 03rd November

Nifty spot opened gap down at 8065.80 and finally closed at 8050.80 after making a low of 7996.95 . We had mentioned Nifty lower range for October expiry at 8098 and Nifty had made a low of 8098. November series has started on the downside and today Nifty spot  went below 8000 after 01st October after a gap of 19 days before recovering.  

Bank Nifty spot opened at 17354.50 and closed at 17340.60 after making a low of  17214.30. We had mentioned in our weekly outlook for Bank Nifty spot in last 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 good returns.

Levels for tomorrow are

Nifty Spot

Long above 8058 for 8071 - 8082 - 8100

Short below 8041 for 8030 - 8019 - 8001

Bank Nifty Spot

Long above 17382 for 17428 – 17496 – 17624

Short below 17299 for 17253 – 17185 – 17058

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 .