Sunday, 28 February 2016

Outlook for 29th February

NIFTY


Nifty spot opened at 7039.30 , made a low at 6985.10 , then went up till 7052.90 before closing at 7029.75 . Today Nifty gave a trade on the long side and completed nearly 2 targets on the long side . Those who would have taken the trade would have got 40 points . Now this week 'We will have to trade and sustain above 7090 - 7097 spot levels for raising hopes of testing 7188 and above . Similarly breaking and sustaining below 6932 we may head lower till next support levels of 6855 - 6760' . Today we have the Budget and high volatility can be expected . Today's move will also decide the trend for this week . All trades should be taken today with a strict stop loss and trailing stop losses should be used to secure profits once positions have been taken as wild swings may be witnessed today.

For today Nifty spot has resistance on the upside near 7044 - 7054 , sustaining above 7072 is required to test 7100 - 7114 levels . Similarly Nifty spot has support on the downside near 7016 - 7005, breaking and sustaining below 6988 we can test 6960 - 6946 levels.

Nifty Spot Levels for the day are

Long above 7059 for 7076 - 7097 - 7152

Short below 7001 for 6983 - 6963 - 6908


BANK NIFTY


Bank Nifty spot opened at 13715.15, went down till 13595.20 then moved up till 13889.25 before closing at 13791.40  .Today Bank Nifty gave a trade on the long side and completed more nearly all targets on the long side . Those who would have taken the trade would have got nearly 240 points .Now this week 'We will have to trade and sustain above 13668 - 13992 spot levels for raising hopes of testing 14205 and above . Similarly breaking and sustaining below 13375 we may head lower till next support levels of 12940 - 12825' .  For now Nifty has taken support near 13550 and bounced back as we were had previously. If we hold these levels we might see further upside this week . Today we have the Budget and high volatility can be expected . Today's move will also decide the trend for this week. All trades should be taken today with a strict stop loss and trailing stop losses should be used to secure profits once positions have been taken as wild swings may be witnessed today.

Bank Nifty Spot Levels for the day are

Long above 13867 for 13914 – 13968 – 14113

Short below 13715 for 13669 – 13615 – 13470

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, 27 February 2016

Weekly Outlook for 29th February to 04th March

NIFTY

This week Nifty spot went down nearly 249 points over last weeks close and finally ended the week with a loss of 181 points compared to last weekly closing 

Last week we had mentioned that short positions in Nifty can be taken below 7135 and Nifty went down till 6961.40 and completed our initial 3 targets . Those who would have followed the levels would have got nearly 174 points . We were expecting lower levels on closing and sustaining above 6941 and Nifty reversed from 6961 and has closed at 7029.75 . Monday we have the Budget being announced and one can expect a volatile start to this week.

In the coming week Nifty spot needs to break and sustain above 7106 to confirm uptrend and then one can expect a move till 7187 initially and breaking and sustaining above 7207 will give further confirmation for the next move which can take us till 7352 . Similarly Nifty spot need to break and sustain below 6954 to confirm downtrend and then one can expect a move till 6873 initially and breaking and sustaining below 6853 will give further confirmation for the next move which can take us till 6707.


Nifty Spot Levels for the week are

Long above 7077 , Tgt  7106 - 7129 - 7170

IF Nifty spot manages to get a close or sustain above 7187 then ,

long again for 7207 - 7276 - 7352

Short below 6983 , Tgt 6954 - 6930 - 6890

IF Nifty spot manages to get a close or sustain below 6873 then, 

short again for 6853 - 6783 - 6707



BANK NIFTY

This week Bank Nifty spot went down nearly 824 points over last weeks close and finally ended the week with a loss of 550 points compared to last weekly closing  

Last week we had mentioned that short positions in Bank Nifty can be taken below 14168 and Bank Nifty went down till 13519.90 and completed our initial 3 targets and then achieved nearly 2 more targets of the next level . Those who would have followed the levels would have got nearly 650 points . Bank Nifty has been under continuous pressure last week due to lower than expected quarterly results and higher than expected NPA's . Monday we have the Budget being announced and one can expect a volatile start to this week.


In the coming week Bank Nifty spot needs to break and sustain above 13992 to confirm uptrend and then one can expect a move till 14205 initially and breaking and sustaining above 14258 will give further confirmation of the next move which can take us till 14642 . Similarly sustaining or closing below 13590 can make Bank Nifty test lower levels till 13378 initially and breaking and sustaining below 13324 will give further confirmation of the next move which can take us down till 12940 .

Bank Nifty Spot Levels for the week are

Long above 13916 , Tgt 13992 - 14054 - 14161

IF Bank Nifty spot manages to get a close or sustain above 14205 then 

long again for 14258 - 14441 - 14642

Short below 13667 , Tgt 13590- 13528 - 13422

IF Bank Nifty spot manages to get a close or sustain below 13378 then 

short again for 13324 - 13141 - 12940


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, 25 February 2016

Outlook for 26th February

NIFTY


Nifty spot opened at 7029.85 , made a high at 7034.20 , it went down till 6961.45 towards the end before closing at 6970.60 . Today Nifty gave a trade on the short side and completed only 1 target on the short side . Those who would have taken the trade would have got 20 points . As mentioned this week in our previous posts 'We still have to trade and sustain above 7241 - 7257 spot levels for raising hopes of testing 7300 and above . Similarly breaking and sustaining below 7123 we may head lower till next support levels of 6855 - 6760' . Today we saw that Nifty was unable to test 7050 too . We can expect the next 2 trading sessions to be volatile ones with the Union Budget coming up.

For today Nifty spot has resistance on the upside near 6985 - 6995 , sustaining above 7012 is required to test 7040 - 7055 levels . Similarly Nifty spot has support on the downside near 6957 - 6946, breaking and sustaining below 6929 we can test 6901 - 6887 levels.

Nifty Spot Levels for the day are

Long above 7007 for 7029 - 7055 - 7106

Short below 6934 for 6912 - 6886 - 6835


BANK NIFTY


Bank Nifty spot opened at 13844.45 which was also the high for the day , then went down till 13519.90 before closing at 13555.70  .Today Bank Nifty gave a trade on the short side and completed more than 2 targets on the short side . Those who would have taken the trade would have got nearly 170 points .. As we have been mentioning in our posts  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '.  We had mentioned in our previous post 'Tomorrow we may see testing of our supports if we sustain below today's low' . Today we saw our lower levels getting tested and Bank Nifty also closed at 13555.70 . We can expect the next 2 trading sessions to be volatile ones with the Union Budget coming up.

Bank Nifty Spot Levels for the day are

Long above 13647 for 13704 – 13769 – 13898

Short below 13464 for 13407 – 13343 – 13213

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 25th February

NIFTY


Nifty spot opened at 7075 , made a high at 7090.80 , it went down till 7009.75 towards the end before closing at 7018.70 . Today Nifty gave a trade on the short side and completed nearly 2 targets on the short side . Those who would have taken the trade would have got nearly 54 points . As mentioned this week in our previous posts 'We still have to trade and sustain above 7241 - 7257 spot levels for raising hopes of testing 7300 and above . Similarly breaking and sustaining below 7123 we may head lower till next support levels of 6855 - 6760' . We were expecting lower levels as the previous close was below 7120 and we saw Nifty being unable to even test 7100  . 

For today Nifty spot has resistance on the upside near 7033 - 7043 , sustaining above 7061 is required to test 7089 - 7103 levels . Similarly Nifty spot has support on the downside near 7005 - 6994, breaking and sustaining below 6976 we can test 6949 - 6935 levels.

Nifty Spot Levels for the day are

Long above 7055 for 7077 - 7102 - 7153

Short below 6982 for 6961 - 6935 - 6885

Today is the expiry day for Feb series and we are expecting the following range

Upper Range 7103

Lower Range 6934


BANK NIFTY


Bank Nifty spot opened at 13873.70 , made a low at 13760.25 , then went up till 13974.50 before closing at 13794.05  .Today Bank Nifty gave a trade on the short side and completed nearly 2 targets on the short side . Those who would have taken the trade would have got nearly 130 points .. As we have been mentioning in our posts  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '.  We had mentioned in our previous post 'Tomorrow we may see testing of our supports if we sustain below today's low' . Today we saw a low of 13760.25 and it held when Nifty made a lower low towards the end of session . 

Bank Nifty Spot Levels for the day are

Long above 13884 for 13939– 14002 – 14129

Short below 13704 for 13649 – 13586 – 13459

Today is the expiry day for Feb series and we are expecting the following range

Upper Range 14028

Lower Range 13559

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, 23 February 2016

Outlook for 24th February

NIFTY


Nifty spot opened at 7240.30 and made a high at 7241.70 , then went down till 7090.70 before closing at 7109.55 . Today Nifty gave a trade on the short side and completed more than 2 targets on the short side . Those who would have taken the trade would have got nearly 100 points . As mentioned in our previous post  ' Nifty gave a close at 7191 and if today's closing is held tomorrow then we may see further upmove till 7241 - 7373  in the days ahead . Similarly closing below 7123 we may see lower levels again  '. As we had mentioned yesterday 'We still have to trade and sustain above 7241 - 7257 spot levels for raising hopes of testing 7300 and above . Similarly breaking and sustaining below 7123 we may head lower till next support levels of 6855 - 6760' . Today's close is not good for longs as sustaining below 7120 again tomorrow we can head much lower.

For today Nifty spot has resistance on the upside near 7124 - 7134 , sustaining above 7152 is required to test 7180 - 7194 levels . Similarly Nifty spot has support on the downside near 7096 - 7085, breaking and sustaining below 7067 we can test 7039 - 7025 levels.

Nifty Spot Levels for the day are

Long above 7155 for 7184 - 7216 - 7281

Short below 7064 for 7035 - 7003 - 6938

BANK NIFTY


Bank Nifty spot opened at 14373.30 which was also the high for the day , then went down till 13961.75 before closing at 14008.35 .Today Bank Nifty gave a trade on the short side and completed nearly 3 targets on the short side . Those who would have taken the trade would have got nearly 300 points .. As we have been mentioning in our posts  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '.  After trading in a narrow range for the last 2 sessions today Bank Nifty finally broke it on the short side . We would now need Bank Nifty spot to break and sustain above 14629 to test higher levels till 14866 - 15010 . Tomorrow we may see testing of our supports if we sustain below today 's low.

Bank Nifty Spot Levels for the day are

Long above 14118 for 14185 – 14262 – 14416

Short below 13899 for 13832 – 13755 – 13546

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 23rd February

NIFTY


Nifty spot opened at 7208.85 and made a low at 7200.70 , then went up till 7252.40 before closing at 7234.55 . Today Nifty again traded in a range between our long and short levels and gave a second close above 7200 keeping hopes alive of testing 7300 and above by expiry .  As mentioned in our previous post  ' Nifty gave a close at 7191 and if today's closing is held tomorrow then we may see further upmove till 7241 - 7373  in the days ahead . Similarly closing below 7123 we may see lower levels again  '. We still have to trade and sustain above 7241 - 7257 spot levels for raising hopes of testing 7300 and above . Similarly breaking and sustaining below 7123 we may head lower till next support levels of 6855 - 6760 .

For today Nifty spot has resistance on the upside near 7249 - 7259 , sustaining above 7277 is required to test 7306 - 7320 levels . Similarly Nifty spot has support on the downside near 7220 - 7210, breaking and sustaining below 7192 we can test 7164 - 7150 levels.

Nifty Spot Levels for the day are

Long above 7280 for 7308 - 7340 - 7403

Short below 7189 for 7161 - 7129 - 7066

BANK NIFTY


Bank Nifty spot opened at 14331.20 and made a low of 14322.65 , then went up till 14467.15 before closing at 14384.80 .Today Bank Nifty triggered our level to go long but did not sustain above it but has given a consecutive close 14300 levels . As we have been mentioning in our posts  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '.  . We would now need Bank Nifty spot to break and sustain above 14629 to test higher levels till 14866 - 15010 . Today we were expecting to see some good move after a range bound movement on Friday but we saw a repeat of it today again .

Bank Nifty Spot Levels for the day are

Long above 14493 for 14560 – 14636 – 14842

Short below 14276 for 14210 – 14134 – 13927

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, 21 February 2016

Outlook for 22nd February

NIFTY


Nifty spot opened at 7170.55 and made a low at 7145.95  , then went up till 7226.85 before closing at 7210.75 . Today Nifty traded in a range between our long and short levels and gave a weekly close above 7200 raising hopes of testing 7300 and above by expiry .  As mentioned in our previous post 'Now the next support comes near 6855 - 6760 which should be watched closely .We need to see 7120 getting reclaimed for building hopes of any short term revival' . Yesterday we had mentioned that Nifty can be shorted below 7145 and Nifty made a low at 7145.95 and did not trigger our short call and recovered to close above 7200 . As mentioned in our previous post  ' Nifty gave a close at 7191 and if today's closing is held tomorrow then we may see further upmove till 7241 - 7373  in the days ahead . Similarly closing below 7123 we may see lower levels again'We still have to trade and sustain above 7241 - 7257 spot levels for raising hopes of testing 7300 and above .

For today Nifty spot has resistance on the upside near 7225 - 7236 , sustaining above 7253 is required to test 7282 - 7296 levels . Similarly Nifty spot has support on the downside near 7197 - 7186, breaking and sustaining below 7168 we can test 7140 - 7126 levels.

Nifty Spot Levels for the day are

Long above 7257 for 7285 - 7317 - 7382

Short below 7165 for 7137 - 7104 - 7040

BANK NIFTY


Bank Nifty spot opened at 14243.45 and made a low of 14207.35 , then went up till 14395.85 before closing at 14344.20 .Today Bank Nifty traded in a range between our long and short levels before closing above 14300 . As mentioned in our previous post  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '.  . We would need Bank Nifty spot to break and sustain above 14690 to test higher levels till 14885 - 15010 . Today after a no trade day on Friday we might see some  good move .

Bank Nifty Spot Levels for the day are

Long above 14452 for 14518 – 14595 – 14746

Short below 14236 for 14170 – 14094 – 13942

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 22nd to 26th February

NIFTY

This week Nifty spot went up nearly 246 points over last weeks close and finally ended the week with a gain of 230 points compared to last weekly closing 

Last week we had mentioned that long positions in Nifty can be taken above 7037 and Nifty went up till 7226.85 and completed our initial 3 targets . Those who would have followed the levels would have got nearly 170 points . We were expecting higher levels on closing and sustaining above 7191 and Nifty has closed at 7210.75 . We are now entering the expiry week for Feb series and some volatility can be expected this week.

In the coming week Nifty spot needs to break and sustain above 7332 to confirm uptrend and then one can expect a move till 7443 initially and breaking and sustaining above 7492 will give further confirmation for the next move which can take us till 7724 . Similarly Nifty spot need to break and sustain below 7089 to confirm downtrend and then one can expect a move till 6988 initially and breaking and sustaining below 6929 will give further confirmation for the next move which can take us till 6698.


Nifty Spot Levels for the week are

Long above 7286 , Tgt  7332- 7369 - 7443

IF Nifty spot manages to get a close or sustain above 7460 then ,

long again for 7492 - 7603 - 7724

Short below 7135 , Tgt 7089 - 7052 - 6988

IF Nifty spot manages to get a close or sustain below 6941 then, 

short again for 6929 - 6819 - 6698



BANK NIFTY

This week Bank Nifty spot went up nearly 630 points over last weeks close and finally ended the week with a gain of 370 points compared to last weekly closing  

Last week we had mentioned that long positions in Bank Nifty can be taken above 14246 and Bank Nifty went up till 14602.25 and completed 2 targets . Those who would have followed the levels would have got nearly 350 points . Bank Nifty could not perform well due to average and lower than expected quarterly results of PSU banks . Bank Nifty needs to perform next week for Nifty to break and sustain above 7241 and test 7300. Bank Nifty needs to break and sustain above 14415 spot this week to test higher levels.

In the coming week Bank Nifty spot needs to break and sustain above 14520 to confirm uptrend and then one can expect a move till 14868 initially and breaking and sustaining above 15006 will give further confirmation of the next move which can take us till 15550 . Similarly sustaining or closing below 14059 can make Bank Nifty test lower levels till 13820 initially and breaking and sustaining below 13682 will give further confirmation of the next move which can take us down till 13138 .

Bank Nifty Spot Levels for the week are

Long above 14520 , Tgt 14629 - 14717 - 14868

IF Bank Nifty spot manages to get a close or sustain above 14930 then 

long again for 15006 - 15266 - 15550

Short below 14168 , Tgt 14059 - 13971 - 13820

IF Bank Nifty spot manages to get a close or sustain below 13758 then 

short again for 13682 - 13423 - 13138


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 .

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

Nifty Expiry 

Upper Level 7369 

Lower Level 7053


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, 18 February 2016

Outlook for 19th February

NIFTY


Nifty spot opened at 7177.40 and made a high at 7215.10 , then went down till 7127.85 before closing at 7191.75 . Today Nifty triggered our long call and completed nearly 2 targets giving around 40 points .  As mentioned in our previous post 'Now the next support comes near 6855 - 6760 which should be watched closely .We need to see 7120 getting reclaimed for building hopes of any short term revival' . Yesterday we had mentioned that Nifty has immediate resistance at 7191 above 7120 and today Nifty gave a close at 7191 and if today's closing is held tomorrow then we may see further upmove till 7241 - 7373  in the days ahead . Similarly closing below 7123 we may see lower levels again.

For today Nifty spot has resistance on the upside near 7206 - 7217 , sustaining above 7234 is required to test 7263 - 7277 levels . Similarly Nifty spot has support on the downside near 7178 - 7167, breaking and sustaining below 7149 we can test 7121 - 7107 levels.

Nifty Spot Levels for the day are

Long above 7238 for 7267 - 7300 - 7365

Short below 7145 for 7117 - 7084 - 7018

BANK NIFTY


Bank Nifty spot opened at 14301.75 and made a high of 14385.65 , then went down till 14180.90 before closing at 14298.15 .Today Bank Nifty gave a trade on the long side and completed 2 targets giving nearly 100 points . As mentioned in our previous post  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '.   Today Bank Nifty again slightly under performed to the Nifty and we might see some out performance tomorrow incase global markets support . We would need Bank Nifty spot to break and sustain above 14690 to test higher levels till 14885 - 15010

Bank Nifty Spot Levels for the day are

Long above 14404 for 14470 – 14545 – 14695

Short below 14192 for 14127 – 14052 – 13900

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, 17 February 2016

Outlook for 18th February

NIFTY


Nifty spot opened at 7058.85 and made a low at 6960.65 , then went up towards the end of session till 7123.70 before closing at 7108.45 . Today Nifty triggered our short call and completed 1 target and then towards the end triggered our long call and completed 1 target again .  As mentioned in our previous post 'Now the next support comes near 6855 - 6760 which should be watched closely .We need to see 7120 getting reclaimed for building hopes of any short term revival' . Today again we saw 7120 getting tested towards the end .We have been mentioning in our previous posts 7120 is a acting as a important level and sustaining above it is required to test the next immediate resistance of 7191 level . We would need Nifty to break and sustain above 7191 to see further upmove till 7247 - 7373 spot . 

For today Nifty spot has resistance on the upside near 7122 - 7133 , sustaining above 7151 is required to test 7179 - 7193 levels . Similarly Nifty spot has support on the downside near 7094 - 7083, breaking and sustaining below 7066 we can test 7038 - 7024 levels.

Nifty Spot Levels for the day are

Long above 7155 for 7183 - 7216 - 7281

Short below 7062 for 7034 - 7001 - 6936

BANK NIFTY


Bank Nifty spot opened at 14165.25 and then went down till 13892.10 , then recovered towards the end and went up till 14186.10 before closing at 14119.85 .Today Bank Nifty gave a trade on the short side and completed 2 targets giving nearly 150 points . As mentioned in our previous post  'Now the next support comes near 13780 - 13550 which should be watched closelyWe need to see 14440 getting reclaimed for building hopes of any short term revival '.   Today Bank Nifty widely under performed to the Nifty and we might see some out performance soon . We would need Bank Nifty spot to break and sustain above 14690 to test higher levels till 14885 - 15010

Bank Nifty Spot Levels for the day are

Long above 14229 for 14297 – 14374 – 14583

Short below 14010 for 13943 – 13865 – 13657

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