Thursday, 31 December 2015

Outlook for 01st January 2016

Wishing everyone a Happy & Prosperous 2016


NIFTY


Nifty spot opened at 7897.80 and made a low at 7891.15  and then went up towards the end till 7955.55 and closed at 7946.35. Today Nifty gave a trade on the long side and did two targets on the long side . We had given a upper target of 7956 for expiry in our post yesterday and Nifty made a high at 7955.55 today .We have been mentioning since a couple of days 'We need to closely watch the price action at 7975 levels where some resistance can be expected'  . We should see 7975 getting tested tomorrow mostly.

For tomorrow Nifty spot has resistance on the upside near 7961 - 7972 , sustaining above 7991 is required to test 8021 - 8036 levels . Similarly Nifty spot has support on the downside near 7932 - 7920 , breaking and sustaining below 7902 we can test 7872 - 7857 levels.

Nifty Spot Levels for the day are

Long above 7968 for 7981 - 7996 - 8026

Short below 7924 for 7912 - 7897 - 7867


BANK NIFTY


Bank Nifty spot opened at 16916.05 and made a low at 16896.65 then made went up till 16972.25 and closed at 16922.20 . Bank Nifty today triggered a entry on the long side towards the end of session but did not sustain above it and has once again under performed against the Nifty . Today Bank Nifty was unable to even break above 17000 spot which it had been doing for the past 3 days . Tomorrow if Nifty stays above todays close then we can expect some catching up by bank nifty which can result in out performance.

Bank Nifty Spot Levels for the day are

Long above 16969 for 16998 – 17031 – 17098

Short below 16875 for 16846 – 16813 – 16747

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, 30 December 2015

Outlook for 31st December

NIFTY


Nifty spot opened at 7938.60 and made a high at 7944.75  and then slowly went down till 7889.85 and closed at 7896.25. Today Nifty gave a trade on the short side and did just one target on the short side . Today we have got a close below 7900 and tomorrow being the last day of December expiry , we can see some volatility .We have been mentioning since a couple of days 'We need to closely watch the price action at 7975 levels where some resistance can be expected'  and it seems Nifty is taking resistance near 7950 for now.

For tomorrow Nifty spot has resistance on the upside near 7911 - 7922 , sustaining above 7941 is required to test 7970 - 7985 levels . Similarly Nifty spot has support on the downside near 7881 - 7870 , breaking and sustaining below 7852 we can test 7822 - 7808 levels.

Nifty Spot Levels for the day are

Long above 7920 for 7934 - 7950 - 7983

Short below 7873 for 7859 - 7842 - 7810


BANK NIFTY


Bank Nifty spot opened at 16997.50 and made a high at 17011.30 then made went down till 16889.05 and closed at 16917.90 . Bank Nifty today triggered a entry on the short side and did nearly 2 targets on the short side . We have broken above 17000 now for 3 days in a row and been unable to get a close above it . Tomorrow we can expect to see some volatility being the last day of December series in F&O.

Bank Nifty Spot Levels for the day are

Long above 16968 for 16999 – 17034 – 17105

Short below 16868 for 16837 – 16802 – 16731

Tomorrow is the expiry for December in F&O and the range for Nifty & Bank Nifty is as follows

Nifty spot 7837 - 7956

Bank Nifty spot 16791 - 17045


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, 29 December 2015

Outlook for 30th December

NIFTY


Nifty spot opened at 7929.20 and made a high at 7942.15  and then went down till 7902.75 and closed at 7928.95. Today Nifty did not give any trade as it moved within our go long and go short range of 7902 - 7948 and did not give any opportunity to trade today on either side. Today we have got a second close above 7900 and tomorrow we should break this range in which we traded today. As mentioned yesterday too 'We need to closely watch the price action at 7975 levels where some resistance can be expected'

For tomorrow Nifty spot has resistance on the upside near 7944 - 7955 , sustaining above 7974 is required to test 8003 - 8018 levels . Similarly Nifty spot has support on the downside near 7914 - 7903 , breaking and sustaining below 7884 we can test 7855 - 7840 levels.

Nifty Spot Levels for the day are

Long above 7952 for 7965 - 7981 - 8013

Short below 7906 for 7893 - 7877 - 7845


BANK NIFTY


Bank Nifty spot opened at 16988.30 ,went down till 16921.15 then made a high of 17045.55 which is a new high for this month and closed at 16991.45  which is also the highest close for this month .  Bank Nifty today triggered a entry on the short side but immediately reversed to go up all the way up to trigger Stoploss and also to give an entry on long side and finally closed below it too . Today again Bank Nifty broke above 17000 which would now keep bears under pressure tomorrow again.

Bank Nifty Spot Levels for the day are

Long above 17042 for 17073 – 17109 – 17180

Short below 16940 for 16910 – 16874 – 16803

With 2 trading days left for this exipry , the range for Nifty & Bank Nifty is as follows

Nifty spot 7845 - 8013

Bank Nifty spot 16812 - 17170


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, 28 December 2015

Outlook for 29th December

NIFTY


Nifty spot opened at 7863.20 and low was at 7863  and it went up till 7937.20 and closed at 7925.15. Today Nifty gave a good entry on the long side and those who initiated the trade would have got nearly 55 points as Nifty completed nearly all our targets on the long side. We were expecting Nifty to cross 7900 today and Nifty not only crossed but also gave a strong close at 7925.15 to begin the expiry week . We need to closely watch the price action at 7975 levels where some resistance can be expected

For tomorrow Nifty spot has resistance on the upside near 7940 - 7951 , sustaining above 7970 is required to test 8000 - 8014 levels . Similarly Nifty spot has support on the downside near 7910 - 7899 , breaking and sustaining below 7880 we can test 7851 - 7837 levels.

Nifty Spot Levels for the day are

Long above 7948 for 7962 - 7977 - 8009

Short below 7902 for 7889 - 7873 - 7841


BANK NIFTY


Bank Nifty spot opened at 16843.40 which was also the low for the day and moved up till 17019 and closed at 16979.15 which is also the highest close for this month . Bank Nifty today gave a entry on the long side and completed all our targets on the long side giving traders who initiated long positions nearly 155 points. Today Bank Nifty finally broke above 17000 which would now keep bears under pressure tomorrow.

Bank Nifty Spot Levels for the day are

Long above 17029 for 17060 – 17095 – 17165

Short below 16929 for 16898 – 16863 – 16792

As of today's close the expiry range for both Nifty and Bank Nifty has moved slightly higher and we shall wait to see tomorrows close and then post new levels  

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, 27 December 2015

Outlook for 28th December

NIFTY


Nifty spot open and high was at 7888.75  and went down till 7835.50 and closed at 7861.05. Nifty did not any opportunity to trade and finally closed just 5 points below the previous day. This is the second close above 7850 but we have still not been able to get a close above 7875 or break above 7893 . Nifty printed a new high for the month at opening and traded below it the whole day. We still maintain our previous view that 'As long as Nifty holds 7690 on closing bulls will try to fight back  . Bears will gain control on a close below 7647' . We are also entering into the last week of this year and also the expiry week for this month and some volatility cannot be ruled out . We may see Nifty above 7900 but will we sustain there or see fresh selling emerge we will need to watch.

For tomorrow Nifty spot has resistance on the upside near 7876 - 7887 , sustaining above 7906 is required to test 7935 - 7950 levels . Similarly Nifty spot has support on the downside near 7846 - 7835 , breaking and sustaining below 7816 we can test 7787 - 7773 levels.

Nifty Spot Levels for the day are

Long above 7883 for 7897 - 7912 - 7943

Short below 7839 for 7825 - 7810 - 7779


BANK NIFTY


Bank Nifty spot opened at 16926.95 made a high of 16939.60 and moved down till 16756.90 and closed at 16811 . Bank Nifty today gave a entry on the short side and only one target on the short side giving just nearly 70 points. Bank Nifty failed to take out the high of the previous day which was also the monthly high till now.

Bank Nifty Spot Levels for the day are

Long above 16860 for 16889 – 16923 – 17015

Short below 16762 for 16733 – 16699 – 16607

As of last weeks close the following is the expiry range : 

Nifty spot  7748 - 7974 

Bank Nifty spot 16569 - 17055 

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, 26 December 2015

Weekly Outlook for 28th December to 01st January

NIFTY

Nifty spot went up nearly 127 points over last weeks close and finally ended this week with a gain of 99 points over last weeks close 

Last week we had mentioned that if Nifty breaks 7807 spot level one can initiate long positions and Nifty made a weekly high of 7888.75 . Those who would have initiated the trade would have been rewarded with nearly 80 points as Nifty completed nearly 3 targets on the long side . We got a weekly close above 7860 spot with nearly a 100 points gain over last weeks close raising hopes of testing 7900 next week which is also the expiry week for December series and the last week of this year too.Now we need to see whether Nifty can break up above 7919 spot and sustain this week to test higher levels .


In the coming week Nifty spot needs to break and sustain above 7919 to confirm uptrend and then one can expect a move till 7968 initially and a close above 7996 can take us till 8105 . Similarly breaking and sustaining below 7802 can make Nifty test lower levels till 7754 initially and a close below 7726 can take us till 7615 .


Nifty Spot Levels for the week are

Long above 7897 , Tgt  7919 - 7937 - 7968

IF Nifty spot manages to get a close or sustain above 7981 then ,

long again for 7996 - 8049 - 8107

Short below 7825 , Tgt 7803 - 7785 - 7754

IF Nifty spot manages to get a close or sustain below 7741 then, 

short again for 7726 - 7673 - 7615

Nifty spot December Expiry - Lower Range - 7748 & Upper Range - 7974


BANK NIFTY

Bank Nifty gained nearly 250 points this week once it broke and sustained above our weekly long level of 16700 and finally closed this week with a gain of 215 points over last weeks close.

Last week we had mentioned that if Bank Nifty breaks above 16700 spot one can initiate longs and those who would have initiated the trade would have been rewarded with nearly 250 points as Bank Nifty made a high of 16946.10 completing all 3 initial targets on the long side. Bank Nifty gave a good weekly close of 16811 after reversing near 16940 on the last two trading days which was our next resistance zone . On Thursday Nifty made a new high for this month but Bank Nifty could not do the same.

In the coming week Bank Nifty spot needs to break and sustain above 16938 to confirm uptrend and then one can expect a move till 17045 initially and a close above 17075 can take us till 17350 . Similarly sustaining or closing below 16683 can make Bank Nifty test lower levels till 16577 initially and a close below 16515 can take us till 16275 .

Bank Nifty Spot Levels for the week are

Long above 16890 , Tgt 16938 - 16978 - 17045

IF Bank Nifty spot manages to get a close or sustain above 17073 then 

long again for 17105 - 17220 - 17350

Short below 16730 , Tgt 16683 - 16644 - 16577

IF Bank Nifty spot manages to get a close or sustain below 16549 then  

short again for 16515 - 16399 - 16275

Bank Nifty spot December Expiry - Lower Range - 16569 & Upper Range - 17055


P.S. Always wait for the highlighted levels to be crossed after taking a long/short position for confirmation of the trade .If it does not cross the highlighted levels then book profit or move SL to cost.

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, 23 December 2015

Outlook for 24th December

NIFTY


Nifty spot opened at 7830.45  made a low of 7826.10 and went up till 7871.45 and closed at 7865.95 .Nifty spot gave a good entry and rewarded longs with nearly 40 points  . Nifty completed nearly all targets on the long side today and has now closed finally above 7850 and also near our resistance level of 7875 as mentioned in our previous post . Today we saw one sided upmove and also a new high for this month . Yesterday we had mentioned that 'As long as Nifty holds 7690 on closing bulls will try to fight back this week . Bears will gain control on a close below 7647' and today we a reverse move of yesterday and a strong close too . We may see Nifty above 7900 finally tomorrow if we break and sustain above 7882 spot

For tomorrow Nifty spot has resistance on the upside near 7881 - 7892 , sustaining above 7910 is required to test 7940 - 7955 levels . Similarly Nifty spot has support on the downside near 7851 - 7840 , breaking and sustaining below 7822 we can test 7792 - 7778 levels.

Nifty Spot Levels for the day are

Long above 7891 for 7912 - 7924 - 7960

Short below 7840 for 7820 - 7808 - 7772


BANK NIFTY


Bank Nifty spot opened at 16828.35 made a low of 16812.50 and moved up till 16913.15 and closed at 16882.50 . Bank Nifty today gave a good entry and completed two targets on the long side rewarding longs with nearly 100 points. Today we sustained the follow up move unlike the previous day and now we may see Bank Nifty above 17000 levels . 

Bank Nifty Spot levels for intraday are

Long above 16953 for 17011 – 17045 – 17144

Short below 16812 for 16754 – 16720 – 16620

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, 22 December 2015

Outlook for 23rd December

NIFTY


Nifty spot opened at 7829.40  made a high of 7846.30 and went down till 7776.85 and closed at 7786.10 .Nifty spot gave a good entry today again and rewarded shorts with nearly 30 points  . Nifty completed nearly two targets on the short side today and has now closed below our go long level for this week reducing hopes of bulls for a new monthly high this week . Tomorrows price action will be important as it will can set the tone for expiry as this is a truncated week . As long as Nifty holds 7690 on closing bulls will try to fight back this week . Bears will gain control on a close below 7647 .

For tomorrow Nifty spot has resistance on the upside near 7801 - 7812 , sustaining above 7830 is required to test 7860 - 7875 levels . Similarly Nifty spot has support on the downside near 7771 - 7760 , breaking and sustaining below 7742 we can test 7713 - 7698 levels.

Nifty Spot Levels for the day are

Long above 7811 for 7831 - 7843 - 7878

Short below 7761 for 7741 - 7729 - 7694

BANK NIFTY


Bank Nifty spot opened at 16810.70 made a high of 16946.10 and moved down till 16704.15 and closed at 16749.20 . Bank Nifty today completed nearly one target on the long side and then nearly one on the short side causing confusion . We were waiting for a follow up move today which came but got sold off later . At one point we had Bank Nifty outperforming Nifty for sometime today . 

Bank Nifty Spot levels for intraday are

Long above 16817 for 16874 – 16907 – 17000

Short below 16681 for 16624 – 16591 – 16495

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, 21 December 2015

Outlook for 22nd December

NIFTY


Nifty spot opened at 7745.65  made a low of 7733.45 and moved up till 7840.75 and closed at 7834.45 .Nifty spot gave a good entry today again and rewarded longs with nearly 50 points  . Nifty completed  two targets on the long side today and has given a close just above our confirmation level for longs this week. It we get a follow up move tomorrow then we can see a new high for this month tomorrow.

For tomorrow Nifty spot has resistance on the upside near 7849 - 7860 , sustaining above 7879 is required to test 7908 - 7923 levels . Similarly Nifty spot has support on the downside near 7819 - 7808 , breaking and sustaining below 7790 we can test 7761 - 7746

Nifty Spot Levels for the day are

Long above 7862 for 7884 - 7897 - 7935

Short below 7807 for 7785 - 7772 - 7734

BANK NIFTY


Bank Nifty spot opened at 16593.40 made a low of 16580.65 and moved up till 16848.60 and closed at 16825.15 . Bank Nifty today completed nearly all  targets on the long side and gave nearly a 200 point gain . As mentioned in our previous post 'A close above 16780 could lead us higher in the days to come' . Now we would need to see if we can get a follow up move tommorow . We have been saying since last week that bank nifty has some catching up to do with the Nifty and it has not been moving in sync with Nifty. Today bank nifty has nearly caught up with Nifty . On 17th December Nifty had closed at 7844 and Bank Nifty had closed at 16741 whereas today Nifty has closed at 7834 and Bank Nifty has closed at 16825.

Bank Nifty Spot levels for intraday are

Long above 16895 for 16955 – 16990 – 17100

Short below 16755 for 16695 – 16660 – 16560

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, 20 December 2015

Outlook for 21st December


NIFTY


Nifty spot opened at 7828.90  made a high of 7836.15 and moved down till 7753.35 and closed at 7761.95 .Nifty spot gave a good entry today again at 7819  and rewarded with 60+ points on the short side . Nifty had completed all our targets on the long side for this week on Wednesday itself so we were not expecting more upside on Friday. As mentioned in our previous post 'Tomorrow being a weekly close we would need to see whether we give up any gains of this week or manage to add any more to it'. Nifty gave a up nearly 82 points and also gave a weekly close just below 7766 creating some doubts about staying long

For tomorrow Nifty spot has resistance on the upside near 7777 - 7788 , sustaining above 7806 is required to test 7836 - 7850 levels . Similarly Nifty spot has support on the downside near 7747 - 7736 , breaking and sustaining below 7718 we can test 7689 - 7674

Nifty Spot Levels for the day are

Long above 7789 for 7805 - 7825 - 7862

Short below 7734 for 7718 - 7699 - 7661

BANK NIFTY


Bank Nifty spot opened at 16719.45 made a high of 16737.70 and moved down till 16572.75 and closed at 16594.30 . Bank Nifty completed two targets on the short side and again gave more than 100 points intraday. As mentioned in our previous posts Now one should watch 16600 levels on the upside as breaking and sustaining above it would be important for further upmoveToday Bank Nifty has closed just slightly below 16600 level and now monday first half move will be important to watch to determine the trend for the coming days. A close above 16780 could lead us higher in the days to come.

Bank Nifty Spot levels for intraday are

Long above 16660 for 16700 – 16745 – 16860

Short below 16530 for 16490 – 16445 – 16320

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, 19 December 2015

Weekly Outlook for 21st - 24th Dec

NIFTY

Nifty spot went up nearly 235 points over last weeks close and finally ended this week with a gain of 151 points over last weeks close 

Last week we had mentioned that if Nifty breaks 7642 spot level one can initiate long positions and those who would have initiated the trade would have been rewarded with nearly 230 points. We got a close above 7766 spot on Thursday but gave up all the gains and gave a weekly close at 7762 lower by 4 points creating a doubt on the direction of the next move.


Nifty spot has closed the week at 7761.95 after making a weekly low at 7551.05 , with nearly a 150 points gain over last week's close  . We had mentioned to go short below 7579 for the week and Nifty made a low of 7551.05 but could not sustain below it giving the first indication that markets are not ready to go down . Nifty spot completed all targets on the upside for this week as mentioned in our outlook last week and is now poised precariously by closing just below our trend deciding level of 7766 at 7762 .

In the coming week Nifty spot needs to give a close above 7833 to confirm uptrend and then one can expect a move till 7893 initially and a close above 7928 can take us till 8065 . Similarly sustaining or closing below 7690 can make Nifty test lower levels till 7630 initially and a close below 7595 can take us till 7460 .

Nifty Spot Levels for the week are

Long above 7807, Tgt  7833 - 7856 - 7893

IF Nifty spot manages to get a close or sustain above 7909 then ,

long again for 7928 - 7993 - 8065

Short below 7718 , Tgt 7690 - 7668 - 7630

IF Nifty spot manages to get a close or sustain below 7615 then, 

short again for 7595 - 7530 - 7460


BANK NIFTY

Bank Nifty gained nearly 320 points this week once it broke and sustained above our weekly long level of 16420 and finally closed this week with a gain of 252 points over last weeks close.

Last week we had mentioned that if Bank Nifty breaks above 16420 spot one can initiate longs and those who would have initiated the trade would have been rewarded with nearly 320 points . Bank Nifty gave a good close of 16742 on Thursday but gave up the gains and gave a weekly close at 16594 . We need bank nifty to break and sustain above 16780 to move up further , till then all the up moves can get sold off .

Bank Nifty spot has closed the week at 16594.30 after making a weekly low at 16188.05 , with nearly a 252 points gain over last week's close .We had mentioned to go short below 16265 spot for the week and Bank Nifty made a low of 16188.05 but could not sustain below it giving the first indication that markets are not ready to move down . Bank Nifty spot completed nearly all targets on the long side for this week as mentioned in our outlook last week and it would be interesting to see it move in sync with nifty this week which was missing last week .

In the coming week Bank Nifty spot needs to give a consecutive close above 16765 to confirm uptrend and then one can expect a move till 16905 initially and a close above 16985 can take us till 17300 . Similarly sustaining or closing below 16430 can make Bank Nifty test lower levels till 16285 initially and a close below 16205 can take us till 15880 .

Bank Nifty Spot Levels for the week are

Long above 16700 , Tgt 16765 - 16815 - 16905

IF Bank Nifty spot manages to get a close or sustain above 16940 then 

long again for 16985 - 17135 - 17300

Short below 16490 , Tgt 16430 - 16375 - 16285

IF Bank Nifty spot manages to get a close or sustain below 16245 then  

short again for 16205 - 16050 - 15880

P.S. Always wait for the highlighted levels to be crossed after taking a long/short position for confirmation of the trade .If it does not cross the highlighted levels then book profit or move SL to cost.

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 .