Sunday, 31 January 2016

Outlook for 01st February

NIFTY


Nifty spot opened at 7413.35 and made a low of 7402.80 and then went up till 7575.65 before closing at 7563.55 . We have been mentioning that Nifty has to sustain above 7477 which is acting as a resistance for now and only if it is broken and sustained then we may see a test of 7500 and also that sustaining below 7400 spot is required to test 7336 levels . On Friday Nifty went till 7402 and bounced back from there to break above 7500 and completed all our targets on the long side giving nearly 100 points to those who took the trade . Now we need to watch 7470 levels below which we can again test 7400 .

For today Nifty spot has resistance on the upside near 7578 - 7589 , sustaining above 7607 is required to test 7636 - 7651 levels . Similarly Nifty spot has support on the downside near 7549 - 7538, breaking and sustaining below 7520 we can test 7491 - 7477 levels.

Nifty Spot Levels for the day are

Long above 7598 for 7620 - 7644 - 7693

Short below 7528 for 7508 - 7483 - 7434

BANK NIFTY


Bank Nifty spot opened at 15140.15 and made a low at 15136.85 ,then went up till 15554.90 before closing at 15522.40 . We had mentioned in our previous post too that Bank Nifty has not been moving in sync with the Nifty and has been showing more weakness as compared to Nifty . Now below 15295 we can again test 15050 where there is some support . Bank Nifty has resistance at 15780 -15800 on the upside for now . 

Bank Nifty Spot Levels for the day are

Long above 15610 for 15660 – 15720 – 15885

Short below 15437 for 15385 – 15325 – 15160

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 01st to 05th February

NIFTY

Nifty spot went up nearly 153 points over last weeks close and finally ended this week with a gain of 141 points over last weeks close 

Last week we had mentioned that Nifty can be longed above 7476 and Nifty went up till 7575 and completed nearly 3 targets giving nearly 100 points on the long side . Nifty gave a good move on Friday and also gave a close above the buying level and closed at 7563 (which was our second resistance for the week as mentioned in our previous weekly post) with a gain of 140 points compared to the previous week . Last week we had mentioned that Nifty has formed some base near 7240 for now and as long as we close above 7336 we can head higher. Now Nifty has taken support higher near 7400 and breaking and closing below it should be watched for selling to emerge again . This week we can expect resistance near 7655 and 7776 and support near 7472 & 7350 .


In the coming week Nifty spot needs to break and sustain above 7655 to confirm uptrend and then one can expect a move till 7751 initially and breaking and sustaining above 7776 will give further confirmation for the next move which can take us till 7951 . Similarly breaking and sustaining below 7472 can make Nifty test lower levels till 7375 initially and breaking and sustaining below 7350 will give further confirmation for the next move which can take us till 7176.


Nifty Spot Levels for the week are

Long above 7620 , Tgt  7655 - 7683 - 7732

IF Nifty spot manages to get a close or sustain above 7752 then ,

long again for 7776 - 7860 - 7951

Short below 7507 , Tgt 7472 - 7444 - 7395

IF Nifty spot manages to get a close or sustain below 7375 then, 

short again for 7350 - 7267 - 7176



BANK NIFTY

Bank Nifty gained nearly 185 points this week over last weeks close and finally closed this week with a gain of 25 points over last weeks close. 

Last week we had mentioned that Bank Nifty can be longed above 15675 and Bank Nifty gained till 15682.65 but could not cross the confirmation level of 15780 and stayed in a tight trading range without triggering our short call . Bank Nifty has under performed the Nifty greatly this week and it should be closely watched as it has a lot of catching up to do to get in sync with the Nifty move . Incase Bank Nifty does not participate then it can play spoil sport to further upmove in Nifty this week .

In the coming week Bank Nifty spot needs to break and sustain above 15748 to confirm uptrend and then one can expect a move till 15986 initially and breaking and sustaining above 16046 will give further confirmation of the next move which can take us till 16475 . Similarly sustaining or closing below 15297 can make Bank Nifty test lower levels till 15058 initially and breaking and sustaining below 14998 will give further confirmation of the next move which can take us down till 14570 .

Bank Nifty Spot Levels for the week are

Long above 15662 , Tgt 15748 - 15817 - 15936

IF Bank Nifty spot manages to get a close or sustain above 15986 then 

long again for 16045 - 16252- 16475

Short below 15383 , Tgt 15297 - 15227 - 15108

IF Bank Nifty spot manages to get a close or sustain below 15058 then 

short again for 14998 - 14793 - 14570


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 .

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 .

Friday, 29 January 2016

Outlook for 29th January

NIFTY


Nifty spot opened at 7426.50 and made a low of 7409.60 and then went up till 7468.85 before closing at 7424.65 . We have been mentioning that Nifty has to sustain above 7477 which is acting as a resistance for now and only if it is broken and sustained then we may see a test of 7500. Nifty has been managing to close above 7420 for 4 continuous days and breaking and sustaining below 7400 spot is required to test 7336 levels . If Nifty closes below 7336 then it can again test 7240 below which correction can resume . 

For today Nifty spot has resistance on the upside near 7439 - 7450 , sustaining above 7468 is required to test 7497 - 7511 levels . Similarly Nifty spot has support on the downside near 7410 - 7399, breaking and sustaining below 7382 we can test 7353 - 7339 levels.

Nifty Spot Levels for the day are

Long above 7457 for 7476 - 7498 - 7543

Short below 7392 for 7373 - 7351 - 7306

BANK NIFTY


Bank Nifty spot opened at 15569.55 and made a high at 15572.20 ,then went down till 15349.75 before closing at 15381.45 . Bank Nifty has not been moving in sync with the Nifty and has been showing more weakness as compared to Nifty . We have been mentioning that 15315 should be kept as stop loss by longs as breaking and sustaining below it can make Bank Nifty test 15000 levels .  Bank Nifty has resistance at 15780 -15800 on the upside for now . So far Bank Nifty has managed to hold 14825 on closing basis below which we are expecting more correction. 

Bank Nifty Spot Levels for the day are

Long above 15479 for 15539 – 15608 – 15746

Short below 15283 for 15224 – 15155 – 15015

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, 27 January 2016

Outlook for 28th January

NIFTY


Nifty spot opened at 7469.60 and made a high of 7477.90 and then went down till 7419.70 before closing at 7437.75 . Nifty once again took resistance near 7477, which we have been mentioning is acting as a resistance for now and breaking and sustaining above it is required to test 7500 . Nifty has managed one more close above 7400 spot keeping hopes still alive of testing 7500 once this week if global markets support . If Nifty closes below 7336 then it can again test 7240 below which correction can resume . 

For today Nifty spot has resistance on the upside near 7452 - 7463 , sustaining above 7481 is required to test 7510 - 7524 levels . Similarly Nifty spot has support on the downside near 7423 - 7412, breaking and sustaining below 7395 we can test 7366 - 7352 levels.

Nifty Spot Levels for the day are

Long above 7470 for 7489 - 7512 - 7557

Short below 7405 for 7386 - 7364 - 7319

Tomorrow being Jan series expiry , we are expecting the following range  

Nifty Expiry 

Upper Level 7512

Lower Level 7364


BANK NIFTY


Bank Nifty spot opened at 15648.40 and made a high at 15673.95 ,then went down till 15442.20 before closing at 15534.60 . Bank Nifty has managed to give a close above 15500 for the second day in a row and holding the same can show some more upmove . Bank Nifty has resistance at 15780 -15800 for now . So far Bank Nifty has managed to hold 14825 on closing basis below which we were expecting more correction. We had mentioned in our previous post that 'We need to break and sustain above 15315 this week for an upmove to begin'.   Now we can keep 15315 as a Stop loss for long positions. 

Bank Nifty Spot Levels for the day are

Long above 15636 for 15699 –
15770 – 15910

Short below 15430 for 15370 – 15299 – 15155

Tomorrow being Jan series expiry , we are expecting the following range  

Bank Nifty Expiry 

Upper Level 15770

Lower Level 15299

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, 26 January 2016

Outlook for 27th January

NIFTY


Nifty spot opened at 7468.75 and made a high of 7487.15 and then went down till 7421.40 before closing at 7436.15 . Nifty broke above 7477 but was unable to sustain above it but has managed to hold 7400 on close once again keeping hopes alive of testing 7500 . As mentioned before Nifty has to break below 7240 for correction to resume . Nifty has resistance on the upside near 7510 - 7563 for this expiry

For today Nifty spot has resistance on the upside near 7451 - 7461 , sustaining above 7479 is required to test 7508 - 7523 levels . Similarly Nifty spot has support on the downside near 7422 - 7411, breaking and sustaining below 7393 we can test 7364 - 7350 levels.

Nifty Spot Levels for the day are

Long above 7469 for 7489 - 7512 - 7559

Short below 7403 for 7383 - 7360 - 7314

With only two trading days left for Jan series , we are expecting the following range  

Nifty Expiry 

Upper Level 7537

Lower Level 7336


BANK NIFTY


Bank Nifty spot opened at 15667 and made a high at 15682.65 ,then went down till 15495.10 before closing at 15561.15 . Bank Nifty has managed to sustain above 15500 now and holding the same can show some more upmove . Bank Nifty has resistance at 15780 -15800 for now .As of now major resistance So far Bank Nifty has managed to hold 14825 on closing basis below which we were expecting more correction. We had mentioned in our previous post that 'We need to break and sustain above 15315 this week for an upmove to begin'.   Now we can keep 15315 as a Stop loss for long positions. 

Bank Nifty Spot Levels for the day are

Long above 15665 for 15730 – 15800 – 15950

Short below 15455 for 15390 – 15320 – 15170

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, 23 January 2016

Outlook for 25th January

NIFTY


Nifty spot opened at 7355.70 and made a low of 7327.60 and then went up till 7433.40 before closing at 7422.45 . Today Nifty gave entry on the long side and those who would have taken a trade would have have got more than 50 points . For now Nifty has formed a small base near 7240 as mentioned in our previous post and breaking below it could begin the next round of correction. As mentioned in the last post  'We needed to break and sustain above 7477 this week for an upmove to begin but now with only one trading day left in this week even a close above 7375 would give some hopes for longs ' . Nifty gave a good close at 7422.45 but will now need to sustain above 7400 for the positive movement to continue on Monday.

For Monday Nifty spot has resistance on the upside near 7437 - 7448 , sustaining above 7466 is required to test 7494 - 7509 levels . Similarly Nifty spot has support on the downside near 7408 - 7397, breaking and sustaining below 7379 we can test 7351 - 7337 levels.

Nifty Spot Levels for the day are

Long above 7455 for 7476 - 7499 - 7545

Short below 7389 for 7369 - 7346 - 7299


BANK NIFTY


Bank Nifty spot opened at 15343.15 and made a low at 15274.90 ,then went up till 15575.65 before closing at 15497.55 .On Thursday Bank Nifty had regained close above 15000 and we got a strong follow up move with support from global markets . So far Bank Nifty has managed to hold 14825 on closing basis below which we were expecting more correction. Bank Nifty gave a entry on the long side and those who would have taken the trade would have got more than 200 points .We had mentioned in our previous post that 'We need to break and sustain above 15315 this week for an upmove to begin'Once Bank Nifty sustained above 15315 we got a good upmove on Friday . Now we can keep 15315 as a Stoploss for long positions. We have HDFC Bank declaring its results on Monday and it should be watched closely as it is one of the heavy weight scrips in Bank Nifty.

Bank Nifty Spot Levels for the day are

Long above 15604 for 15670 – 15745 – 15895

Short below 15390 for 15325 – 15250 – 15098

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 25th to 29th Jan

NIFTY

Nifty spot went down nearly 196 points over last weeks close and finally ended this week with a loss of just 15 points over last weeks close 

Last week we had mentioned that Nifty can be shorted below 7399 and Nifty fell till 7241 and completed nearly 5 targets giving nearly 160 points on the short side . Nifty finally recovered almost completely on Friday and also gave a close above the shorting level and closed at 7422 with just a loss of 15 points compared to the previous week . Nifty has formed some base near 7240 for now and as long as we close above 7336 we can head higher. Global markets have also recovered a bit along with Oil which has also shown some bounce back. This week we can expect some resistance near 7510 and 7563 and some support near 7335 & 7281 .


In the coming week Nifty spot needs to break and sustain above 7510 to confirm uptrend and then one can expect a move till 7582 initially and breaking and sustaining above 7625 will give further confirmation for the next move which can take us till 7792 . Similarly breaking and sustaining below 7335 can make Nifty test lower levels till 7262 initially and breaking and sustaining below 7220 will give further confirmation for the next move which can take us till 7053.


Nifty Spot Levels for the week are

Long above 7476 , Tgt  7510 - 7537 - 7583

IF Nifty spot manages to get a close or sustain above 7602 then ,

long again for 7625 - 7705 - 7792

Short below 7368 , Tgt 7335 - 7308 - 7262

IF Nifty spot manages to get a close or sustain below 7243 then, 

short again for 7220 - 7140 - 7053



BANK NIFTY

Bank Nifty lost nearly 450 points this week over last weeks close and finally closed this week with a gain of 290 points over last weeks close. 

Last week we had mentioned that Bank Nifty can be shorted below 15100 and Bank Nifty fell till 14755 and completed more than 4 targets giving nearly 350 points on the downside . Bank Nifty recovered completely in the last two trading sessions and gave a close above the go long level for last week. We saw Bank Nifty out performing Nifty in the last two sessions . On Monday we have HDFC Bank results too which is a heavy weight in the Banking Index and its results will have an impact on the Bank Nifty move.

In the coming week Bank Nifty spot needs to break and sustain above 15780 to confirm uptrend and then one can expect a move till 16015 initially and breaking and sustaining above 16155 will give further confirmation of the next move which can take us till 16695 . Similarly sustaining or closing below 15215 can make Bank Nifty test lower levels till 14975 initially and breaking and sustaining below 14840 will give further confirmation of the next move which can take us down till 14300.

Bank Nifty Spot Levels for the week are

Long above 15675 , Tgt 15780 - 15865 - 16015

IF Bank Nifty spot manages to get a close or sustain above 16080 then 

long again for 16155 - 16410 - 16695

Short below 15320 , Tgt 15215 - 15125 - 14980

IF Bank Nifty spot manages to get a close or sustain below 14915 then 

short again for 14840 - 14585 - 14300

We are entering the truncated expiry week for Jan Series and our expected levels are

Nifty Expiry 

Upper Level 7549 

Lower Level 7296


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 .

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, 21 January 2016

Outlook for 22nd January

NIFTY


Nifty spot opened at 7376.65 and made a high of 7398.70 and then went down till 7250 before closing at 7276.80 . Today Nifty gave entry on the short side right at opening as per our weekly outlook ( As per our weekly outlook it was short below 7399 for this week ) and completed 2 targets on the short side as per  intraday shorting level for today  .Those who would have remembered the weekly level and would have shorted even near 7390 would have got nearly 140 points and those who would have shorted as per intraday level would have got nearly 33 points today . Today Nifty has given a close below 7291 which is our next level to go short for this week but Nifty has been forming support near 7240 - 7250 in the last two days which could provide support incase of gap down . Breaking and sustaining below the low of the week could begin another round of fall . We needed to break and sustain above 7477 this week for an upmove to begin but now with only one trading day left in this week even a close above 7375 would give some hopes for longs  

Today Nifty spot has resistance on the upside near 7291 - 7302 , sustaining above 7320 is required to test 7348 - 7362 levels . Similarly Nifty spot has support on the downside near 7263 - 7252, breaking and sustaining below 7234 we can test 7206 - 7192 levels.

Nifty Spot Levels for the day are

Long above 7301 for 7316 - 7333 - 7379

Short below 7252 for 7238 - 7220 - 7175


BANK NIFTY


Bank Nifty spot opened at 15132.20 and made a high at 15364.60 ,then went down till 14918.15 before closing at 15101.20 .Today Bank Nifty regained closing above 15000  . As mentioned previously ' Bank Nifty has a small support at 14825 below 15000 now and if that is broken and sustained we could see further correction till 14350'. Today Bank Nifty did not give a clear trade , those who would have entered above the 2nd target would have got 100 points .We have been mentioning repeatedly in our previous posts 'Overall we are having weak global sentiments hence a big move on the upside would have to be backed by some really strong positive news flow '. Yesterday we had mentioned that 'We need to break and sustain above 15315 this week for an upmove to begin'. Today Nifty broke above it but could not sustain above it . It would be interesting to see if it can break above it tomorrow again and sustain. 

Bank Nifty Spot Levels for the day are

Long above 15186 for 15239 – 15299 – 15461

Short below 15016 for 14964 – 14904 – 14741

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, 20 January 2016

Outlook for 21st January

NIFTY


Nifty spot opened at 7357 and showed a high of 7470.90 and then went down till 7241.50 before closing at 7309.30. Today Nifty gave entry on the short side and completed all our targets giving traders nearly 80 points today . Today Nifty broke below 7291 and completed nearly 2 more weekly targets on the short side before recovering towards the end and closing above 7300 . As mentioned previously we can expect a small bounce if 7291 is held tomorrow again on closing . We need to break and sustain above 7477 this week for an upmove to begin .

Today Nifty spot has resistance on the upside near 7323 - 7334 , sustaining above 7352 is required to test 7381 - 7395 levels . Similarly Nifty spot has support on the downside near 7295 - 7284, breaking and sustaining below 7266 we can test 7238 - 7224 levels.

Nifty Spot Levels for the day are

Long above 7335 for 7351 - 7369 - 7405

Short below 7283 for 7268 - 7250 - 7214


BANK NIFTY


Bank Nifty spot opened at 15059.50 and showed a high at 15533.45 ,then went down till 14754.65 before closing at 14935.50 .Today Bank Nifty closed below 15000 finally . As mentioned previously ' Bank Nifty has a small support at 14825 below 15000 now and if that is broken and sustained we could see further correction till 14350'. Today Bank Nifty gave a entry on the short side and completed all our targets giving traders nearly 225 points today .We have been mentioning repeatedly in our previous posts 'Overall we are having weak global sentiments hence a big move on the upside would have to be backed by some really strong positive news flow '. We need to break and sustain above 15315 this week for an upmove to begin.

Bank Nifty Spot Levels for the day are

Long above 15015 for 15065 – 15120 – 15235

Short below 14855 for 14806 – 14750 – 14635

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, 19 January 2016

Outlook for 20th January

NIFTY


Nifty spot opened at 7381.80 and made a low at 7364.15 and then went up till 7462.75 before closing at 7435.10. Today Nifty gave good entry on the long side and completed all our targets giving traders nearly 65 points today . As mentioned yesterday we were expecting a small bounce if 7291 was held today on closing today, which did not get tested today. Now if 7291 is broken and sustained then we may still go down and complete the remaining targets on the short side . Else if we break and sustain 7477 then we may test higher levels.

Today Nifty spot has resistance on the upside near 7449 - 7460 , sustaining above 7478 is required to test 7507 - 7522 levels . Similarly Nifty spot has support on the downside near 7421 - 7410, breaking and sustaining below 7392 we can test 7363 - 7349 levels.

Nifty Spot Levels for the day are

Long above 7464 for 7482 - 7502 - 7543

Short below 7406 for 7388 - 7368 - 7328


BANK NIFTY


Bank Nifty spot opened at 15086.75 which was also the low for the day  and made a high at 15338.20  before closing at 15269.65 . Today Bank Nifty gave a stronger move which allowed Nifty to also sustain above 7420 towards the end . So far Bank Nifty has been able to hold 15000 spot on closing basis. As mentioned previously ' Bank Nifty has a small support at 14825 below 15000 now and if that is broken and sustained we could see further correction till 14350'. Today Bank Nifty gave a good entry on the long side and completed all our targets giving traders nearly 175 points today .We have also been mentioning in our previous post 'Overall we are having weak global sentiments hence a big move on the upside would have to be backed by some really strong positive news flow '

Bank Nifty Spot Levels for the day are

Long above 15351 for 15401 – 15458 – 15575

Short below 15188 for 15138 – 15080 – 14966

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