Tuesday, 29 March 2016

Outlook for 30th March

NIFTY


Nifty spot opened at 7606.55 made a low at 7582.25 , went up till 7652.90 before closing at 7597 . After a big move yesterday today Nifty appeared undecided as it triggered both our long and short calls a couple of times but did not even give 20 points and triggered our stoploss . As long as we are trading below 7667 spot we can head lower till this expiry. As mentioned previously  'Nifty is approaching its next resistance zone of 7748 - 7768 spot and a valid breakout of this level is required to test 7800 and above'  . Now those who are holding shorts should keep 7667 spot as stoploss .

For today Nifty spot has resistance on the upside near 7612 - 7622 , sustaining above 7641 is required to test 7670 - 7684 levels . Similarly Nifty spot has support on the downside near 7582 - 7572 , breaking and sustaining below 7553 we can test 7525 - 7510 levels.

Nifty Spot Levels for the day are

Long above 7621 for 7636 - 7654 - 7700

Short below 7573 for 7558 - 7541 - 7494


BANK NIFTY


Bank Nifty spot opened at 15583.10 ,made a low of 15580.80 ,then went up till 15774.10 before closing at 15666.25. Today Bank Nifty triggered our long call and completed more than 2 targets giving around 100 points on the upside . As we had mentioned in our previous post 'Now Bank Nifty is approaching its resistance levels of 15954 - 15995 spot and a valid breakout of these levels is required to test 16020 and above'.  Those who are short should now keep a stoploss of 15822 spot . Today Bank Nifty has outperformed the Nifty and closed stronger else Nifty would have tested lower levels today .

Bank Nifty Spot Levels for the day are

Long above 15724 for 15760 – 15801 – 15912

Short below 15608 for 15572 – 15531 – 15421

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 March 2016

Outlook for 29th March

NIFTY


Nifty spot opened at 7741 made a high at 7749.40 , went down till 7587.70 before closing at 7615.10 . Nifty today triggered a short call and completed all targets on the short side giving around 100 points .  Yesterday we had mentioned that 'Nifty is approaching its next resistance zone of 7748 - 7768 spot and a valid breakout of this level is required to test 7800 and above'  . Today Nifty reversed from 7749.40 itself and those who would have remembered this and taken shorts here with 7770 as SL would have got additional 50 points. We had asked longs to keep a SL of 7650 spot which has been broken today. Now we need a follow up move downwards to confirm top is done for this month 

For today Nifty spot has resistance on the upside near 7630 - 7641 , sustaining above 7659 is required to test 7688 - 7703 levels . Similarly Nifty spot has support on the downside near 7601 - 7590 , breaking and sustaining below 7572 we can test 7543 - 7528 levels.

Nifty Spot Levels for the day are

Long above 7639 for 7654 - 7671 - 7718

Short below 7591 for 7576 - 7559 - 7512


BANK NIFTY


Bank Nifty spot opened at 15867.75 ,made a high of 15890.70 ,then went down till 15522.20 before closing at 15604.90. Today Bank Nifty triggered our short call and completed all targets and did more giving around 300 points on the downside with trailing stoploss. Yesterday we had mentioned 'Now Bank Nifty is approaching its resistance levels of 15954 - 15995 spot and a valid breakout of these levels is required to test 16020 and above'.  We had asked longs to keep a stop loss of 15780 spot on closing basis which has been broken today . Now we need a follow up move downwards to confirm top is done for this month .

Bank Nifty Spot Levels for the day are

Long above 15663 for 15699 – 15741 – 15852

Short below 15547 for 15511 – 15469 – 15358


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 March 2016

Outlook for 28th March

NIFTY


Nifty spot opened at 7717.45, made a low at 7670.60 , went up till 7726.85 before closing at 7716.50 . Nifty today triggered a short call and completed nearly 2 targets on the short side giving around 24 points .  The confirmation for the next up move will come once we break and sustain above 7717 spot as mentioned in our previous posts .  Today Nifty gave a close at 7716.50 nearly on the same level . Those who are long should now trail their stop loss to 7650 spot on closing basis. Now Nifty is approaching its next resistance zone of 7748 - 7768 spot and a valid breakout of this level is required to test 7800 and above . 

For today Nifty spot has resistance on the upside near 7731 - 7742 , sustaining above 7760 is required to test 7790 - 7805 levels . Similarly Nifty spot has support on the downside near 7702 - 7691, breaking and sustaining below 7673 we can test 7643 - 7629 levels.

Nifty Spot Levels for the day are

Long above 7736 for 7748 - 7761 - 7798

Short below 7697 for 7685 - 7672 - 7635


BANK NIFTY


Bank Nifty spot opened at 15884.25 ,made a low of 15799.95 ,then went up till 15919.60 before closing at 15887.75. Today Bank Nifty triggered our short call and completed 2 targets giving around 90 points . Now Bank Nifty is approaching its resistance levels of 15954 - 15995 spot and a valid breakout of these levels is required to test 16020 and above.  In our previous posts we had mentioned that 'Those who are long should trail their stop loss to 15780 spot on closing basis' .Nifty once again made a low at 15799.95 and reversed from there. 

Bank Nifty Spot Levels for the day are

Long above 15928 for 15953 – 15982 – 16059

Short below 15847 for 15822 – 15794 – 15717


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, 25 March 2016

Weekly Outlook for 28th March to 01st April

NIFTY

This week Nifty spot went up 124 points over last weeks close and finally ended the week with a gain of 112 points compared to last weekly closing 

Last week we had mentioned that long positions in Nifty can be taken above 7634 and short positions can be taken below 7574 . Nifty made a high of 7728 and low of 7617.70 for the week Nifty completed 4 targets giving nearly 90 points on the long side . Nifty has been trending higher this week since breaking above 7600 . We are approaching the top for this current up move for this series and one should watch the resistance levels closely for signs of reversal. As mentioned in our last week view Nifty will have to break and sustain above 7717 spot to go up further and Nifty has closed bang on 7716.50 . Nifty has good resistance between 7748 - 7767 spot for this week which is also the expiry week for this March series and one should watch for a closing above this levels . 

In the coming week Nifty spot needs to break and sustain above 7767 to confirm uptrend and then one can expect a move till 7820 initially and breaking and sustaining above 7835 will give further confirmation for the next move which can take us till 7931 . Similarly Nifty spot needs to break and sustain below 7666 to confirm downtrend and then one can expect a move till 7612 initially and breaking and sustaining below 7599 will give further confirmation for the next move which can take us till 7502.


Nifty Spot Levels for the week are

Long above 7748 , Tgt  7767 - 7783 - 7810

IF Nifty spot manages to get a close or sustain above 7821 then ,

long again for 7834 - 7881 - 7931

Short below 7685 , Tgt 7666 - 7650 - 7623

IF Nifty spot manages to get a close or sustain below 7612 then, 

short again for 7599 - 7552 - 7502



BANK NIFTY

This week Bank Nifty spot went up 313 points over last weeks close and finally ended the week with a gain of 233 points compared to last weekly closing  

Last week we had mentioned that long positions in Bank Nifty can be taken above 15732 and short positions can be taken below 15578 spot . Bank Nifty gave a long trade and completed  4 targets on the long side giving nearly 233 points from our trade . Once Bank Nifty moved above our resistance of 15719 we saw a quick up move of nearly 250 points . We are approaching the top for this current up move and one should watch the resistance levels closely for signs of reversal. Bank Nifty has resistance in the range of 15955 - 15995 spot for this week which is also the expiry week for March series and one should watch for a closing above this level.

In the coming week Bank Nifty spot needs to break and sustain above 15995  to confirm uptrend and then one can expect a move till 16108 initially and breaking and sustaining above 16136 will give further confirmation of the next move which can take us till 16340 . Similarly sustaining or closing below 15781 can make Bank Nifty test lower levels till 15668 initially and breaking and sustaining below 15639 will give further confirmation of the next move which can take us down till 15435 .

Bank Nifty Spot Levels for the week are

Long above 15954 , Tgt 15995 - 16028 - 16084

IF Bank Nifty spot manages to get a close or sustain above 16108 then 

long again for 16136 - 16234 - 16341

Short below 15822 , Tgt 15781 - 15748 - 15691

IF Bank Nifty spot manages to get a close or sustain below 15668 then 

short again for 15639- 15542 - 15435


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

Tuesday, 22 March 2016

Outlook for 22nd March

NIFTY


Nifty spot opened at 7695.55, made a low at 7643.80 , went up till 7728.20 before closing at 7714.90 . Nifty today triggered a short call and completed 2 targets on the short side giving nearly 40 points . Then towards the end triggered a long call in the last half hour of today's session but closed below it . The confirmation for the next up move will come once we break and sustain above 7717 spot as mentioned in our previous post .  Those who are long should now trail their stop loss to 7650 spot on closing basis. We have been mentioning in our posts regularly that Nifty needed to break the resistance zone of 7558 - 7590 to give a decisive move and we saw a good move and close above 7600 and 7700 in 2 trading days once it broke above it .

For today Nifty spot has resistance on the upside near 7730 - 7741 , sustaining above 7759 is required to test 7788 - 7803 levels . Similarly Nifty spot has support on the downside near 7700 - 7689, breaking and sustaining below 7671 we can test 7642 - 7627 levels.

Nifty Spot Levels for the day are

Long above 7736 for 7749 - 7764 - 7804

Short below 7694 for 7681 - 7666 - 7626


BANK NIFTY


Bank Nifty spot opened at 15930.40 ,made a low of 15779.15 ,then went up till 15967.85 before closing at 15936. Today Bank Nifty triggered our short call and completed 2 targets giving around 100 points and recovered towards the end to close again above 15911 , sustaining above which we can begin the next round of up move for this week till 16182 spot .  As mentioned previously 'We would need a valid breakout of 14900 - 15452 range to see a good move on either side now. '  and we saw a good move of nearly 500 points once we broke the range . Yesterday we had mentioned that 'Those who are long should trail their stop loss to 15780 spot on closing basis' . Today Nifty made a low at 15779.15 and reversed from there. 

Bank Nifty Spot Levels for the day are

Long above 15980 for 16007 – 16038 – 16121

Short below 15892 for 15865 – 15834 – 15751


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 22nd March

NIFTY


Nifty spot opened at 7619.20, made a low at 7617.70 , went up till 7713.55 before closing at 7704.25 . Nifty today opened gap up and triggered a long call as per our weekly long level at 7634 and completed all 3 initial targets for the week giving more than 80 points and closed at 7704, sustaining above which we can being the next round of up move for this week till 7810 spot . The confirmation for the next move will come once we break and sustain above 7717 spot . We had been mentioning in our previous post We repeat that those who are positionally long should watch breaking and sustaining below 7417 - 7396 spot zone to exit '  .  Those who are long should now trail their stop loss to 7650 spot on closing basis. We have been mentioning in our posts regularly that Nifty needed to break the resistance zone of 7558 - 7590 to give a decisive move and we saw a good move and close above 7600 and 7700 in 2 trading days once it broke above it .

For today Nifty spot has resistance on the upside near 7719 - 7730 , sustaining above 7748 is required to test 7778 - 7792 levels . Similarly Nifty spot has support on the downside near 7690 - 7679, breaking and sustaining below 7660 we can test 7631 - 7617 levels.

Nifty Spot Levels for the day are

Long above 7725 for 7738 - 7753 - 7794

Short below 7683 for 7670 - 7655 - 7615


BANK NIFTY


Bank Nifty spot opened at 15735.55 ,which was also the low of the day ,then went up till 15945.80 before closing at 15926.10. Today Bank Nifty triggered our weekly long call and completed all 3 initial targets for the week giving more than 200 points and close just above 15911 sustaining above which we can begin the next round of up move for this week till 16182 spot .  As mentioned previously 'We would need a valid breakout of 14900 - 15452 range to see a good move on either side now. '  and we saw a good move of nearly 500 points once we broke the range . Those who are long should trail their stop loss to 15780 spot on closing basis .

Bank Nifty Spot Levels for the day are

Long above 15969 for 15996 – 16027 – 16110

Short below 15882 for 15856 – 15825 – 15742


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 March 2016

Weekly Outlook for 21st to 25th March

NIFTY

This week Nifty spot went up 103 points over last weeks close and finally ended the week with a gain of 94 points compared to last weekly closing 

Last week we had mentioned that long positions in Nifty can be taken above 7568 and short positions can be taken below 7453 . Nifty went down till 7405.15 completing 1 target on the short side and then went up till 7613.60 completing 1 target on the long side giving just 50 points on each trades . It took 9 sessions for Nifty to cross 7600 spot after breaking above 7500 . Nifty traded in a small range the entire week. We are approaching the top for this current up move and one should watch the resistance levels closely for signs of reversal. As mentioned in our last week view Nifty will have to break and sustain above 7604 spot to go up further and Nifty has closed bang on 7604 . Nifty has a lot of resistance between 7600 - 7700 spot . 

In the coming week Nifty spot needs to break and sustain above 7653 to confirm uptrend and then one can expect a move till 7704 initially and breaking and sustaining above 7717 will give further confirmation for the next move which can take us till 7810 . Similarly Nifty spot needs to break and sustain below 7556 to confirm downtrend and then one can expect a move till 7505 initially and breaking and sustaining below 7492 will give further confirmation for the next move which can take us till 7399.


Nifty Spot Levels for the week are

Long above 7634 , Tgt  7653 - 7668 - 7693

IF Nifty spot manages to get a close or sustain above 7704 then ,

long again for 7717 - 7761 - 7810

Short below 7574 , Tgt 7556 - 7541 - 7515

IF Nifty spot manages to get a close or sustain below 7505 then, 

short again for 7492 - 7448 - 7399



BANK NIFTY

This week Bank Nifty spot went up 537 points over last weeks close and finally ended the week with a gain of 487 points compared to last weekly closing  

Last week we had mentioned that long positions in Bank Nifty can be taken above 15334 and short positions can be taken below 15003 spot . Bank Nifty gave a long trade and completed all our initial targets giving us nearly 371 points from our trade . We were expecting some resistance near 15719 this week and Bank Nifty took some resistance near 15705 which was achieved on Thursday . So yesterday inspite of Nifty breaking 7600 spot and making a new high for the month , Bank Nifty did not make a new high again above 15705 . We are approaching the top for this current up move and one should watch the resistance levels closely for signs of reversal.

In the coming week Bank Nifty spot needs to break and sustain above 15779 to confirm uptrend and then one can expect a move till 15910 initially and breaking and sustaining above 15944 will give further confirmation of the next move which can take us till 16182 . Similarly sustaining or closing below 15530 can make Bank Nifty test lower levels till 15400 initially and breaking and sustaining below 15366 will give further confirmation of the next move which can take us down till 15128 .

Bank Nifty Spot Levels for the week are

Long above 15732 , Tgt 15779 - 15818 - 15883

IF Bank Nifty spot manages to get a close or sustain above 15911 then 

long again for 15944 - 16057 - 16182

Short below 15578 , Tgt 15530 - 15492 - 15426

IF Bank Nifty spot manages to get a close or sustain below 15399 then 

short again for 15366- 15252 - 15128


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

Friday, 18 March 2016

Outlook for 18th March

NIFTY


Nifty spot opened at 7557.40, made a high at 7585.30 , went down till 7479.40 before closing at 7512.55 . Nifty today opened gap up above triggering  a long call and completed all targets on the long side giving around 40 points .We had mentioned in our previous post We repeat that those who are positionally long should watch breaking and sustaining below 7417 - 7396 spot zone to exit ' and today we took support in this zone . Those who would have used 7396 as SL and gone long here would have got nearly 100 points with a small Stoploss. We have been mentioning in our posts regularly that Nifty is trading above its support zone of 7396 - 7360 and on breaking below this we can test the next immediate supports near 7252 - 7242 levels. As mentioned previously ' Nifty may face resistance near 7558 - 7590 above 7530' and today again we saw Nifty take resistance in the zone of 7558 - 7590 . We need to see a decisive break of this range to start talking of higher targets.

For today Nifty spot has resistance on the upside near 7527 - 7538 , sustaining above 7556 is required to test 7585 - 7599 levels . Similarly Nifty spot has support on the downside near 7498 - 7487, breaking and sustaining below 7469 we can test 7440 - 7426 levels.

Nifty Spot Levels for the day are

Long above 7527 for 7536 - 7547 - 7575

Short below 7498 for 7489 - 7478 - 7450


BANK NIFTY


Bank Nifty spot opened at 15622.30 ,made a high of 15704.75 ,then went down till 15312.50 before closing at 15444. Today Bank Nifty triggered our long call and completed all out targets giving nearly 100 points  and triggered our short call towards the end and completed 2 targets giving nearly 100 points .We have been said this before and am repeating it that one should keep trailing stoploss in this market. Today Bank Nifty has made a new high for this month and has closed just below the previous close . As mentioned previously 'We would need a valid breakout of 14900 - 15452 range to see a good move on either side now. '  Bank Nifty has support in the range of 14758 - 14647. Now for longs Bank Nifty spot should not break and sustain below 14900 spot .  

Bank Nifty Spot Levels for the day are

Long above 15488 for 15515 – 15546 – 15630

Short below 15400 for 15373 – 15342 – 15258


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, 17 March 2016

Outlook for 17th March

NIFTY


Nifty spot opened at 7457.05, made a low at 7405.15 , went down till 7508 before closing at 7498.75 . Nifty today triggered a short call and completed nearly 2 targets on the short side giving around 30 points, then reversed from the days low and went up to trigger our long call and did one target on the long side too .We had mentioned in our previous post We repeat that those who are positionally long should watch breaking and sustaining below 7417 - 7396 spot zone to exit ' and today we took support in this zone . Those who would have used 7396 as SL and gone long here would have got nearly 100 points with a small Stoploss. We have been mentioning in our posts regularly that Nifty is trading above its support zone of 7396 - 7360 and on breaking below this we can test the next immediate supports near 7252 - 7242 levels. As mentioned previously ' Nifty may face resistance near 7558 - 7590 above 7530' . 

For today Nifty spot has resistance on the upside near 7513 - 7524 , sustaining above 7542 is required to test 7571 - 7586 levels . Similarly Nifty spot has support on the downside near 7484 - 7473, breaking and sustaining below 7456 we can test 7427 - 7412 levels.

Nifty Spot Levels for the day are

Long above 7518 for 7530 - 7544 - 7581

Short below 7479 for 7468 - 7454 - 7417


BANK NIFTY


Bank Nifty spot opened at 15304.35 ,made a low of 15178.30 ,then went up till 15489.50 before closing at 15461.70. Today Bank Nifty just triggered our short call and did 1 target and reversed triggered our long call and did 1 target giving nearly 60 points on each side .Bank Nifty has been trading stronger than Nifty this week to some extent .Today Bank Nifty has given the highest closing for this month and also gave a closing above its recent trading range of 14989 - 15452 . As mentioned yesterday 'We would need a valid breakout of 14900 - 15452 range to see a good move on either side now. ' and now we need to now see if we get a follow up move tomorrow.  Bank Nifty has support in the range of 14758 - 14647. Now for longs Bank Nifty spot should not break and sustain below 14900 spot .  

Bank Nifty Spot Levels for the day are

Long above 15506 for 15533 – 15564 – 15647

Short below 15418 for 15390 – 15360 – 15276


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