Monday, 30 May 2016

Nifty & Bank Nifty Spot Outlook for 31st May

NIFTY


Nifty spot opened  at 8166.50 , made a high for the day at 8200 , went down till 8150.80 before closing at 8178.50 . Had mentioned that long positions can be taken above 8189 and short positions can be taken below 8124 for the day .Today Nifty triggered our long trade after opening but did not complete any targets and triggered our stoploss but did not trigger a short trade after that and traded in a range of 8150 to 8180 the entire day .

For this week Nifty spot has resistance at 8243 and above that near 8295 - 8334  levels and has support near 8070 and below that near 8017 - 7979 levels .

For today if Nifty spot sustains above 8199 - 8211 we can see a initial move upto 8231 - 8246 & on sustaining above 8255 we may see further upmove till 8317. Similarly if Nifty spot sustains below 8158 - 8146 we may see a initial move on the downside upto 8126 - 8111 & on sustaining below 8102 we may see a further downmove till 8040 . 

Nifty Spot Levels for the day are

Long above 8211 for 8231 - 8255 - 8317 , SL 8189

Short below 8146 for 8126 - 8102 - 8040 , SL 8168

BANK NIFTY


Bank Nifty spot opened at 17580.85 made a high at 17666.05, went down till 17484.80 before closing at 17520.65. We had mentioned long positions can be taken above 17598 and short positions can be taken below 17426 for the day.  Bank Nifty triggered our long trade and completed 1 targets giving around 50 points them our TSL but did not trigger our short trade today.

For this weeknow Bank Nifty spot has resistance at 17740 and above that near 17881- 17981 levels and has support at 17284 and below that near 17143 - 17042 levels 

For today if Bank Nifty spot sustains above 17574 - 17607 we can see a initial move upto 17661 - 17699 & on sustaining above 17722 we may see further upmove  till 17887. Similarly if Bank Nifty sustains below 17467 - 17434 we may see a initial move on the downside upto 17381 - 17343 &  on sustaining below 17320  we may see further downmove till 17154


Bank Nifty Spot Levels for the day are

Long above 17607 for 17661 – 17722 – 17887 , SL 17547

Short below 17434 for 17381 – 17320 – 17154 , SL 17494

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and trades taken on them should be done with a strict trailing stop loss

Sunday, 29 May 2016

Nifty & Bank Nifty Spot Outlook for 30th May


 NIFTY


Nifty spot opened  at 8081.95 , made a low for the day at 8077.05 , went up till 8164.20 before closing at 8156.65 . Had mentioned that long positions can be taken above 8101 and short positions can be taken below 8036 for the day .Today Nifty triggered our long trade and completed 2 targets giving around 60 points  . 

 Had been mentioning this for the past few days ' Nifty will be strong once we get a consecutive close above 7980 spot . Sustaining / closing below 7678 we may see Nifty test 7545 spot and sustaining / closing above 7992 we may see a test upto 8154 . Now we have achieved our target of 8154 and also closed just above it . For this week Nifty spot has resistance at 8243 and above that near 8295 - 8334  levels and has support near 8070 and below that near 8017 - 7979 levels .

For today if Nifty spot sustains above 8177 - 8189 we can see a initial move upto 8209 - 8224 & on sustaining above 8232 we may see further upmove till 8295. Similarly if Nifty spot sustains below 8137 - 8124 we may see a initial move on the downside upto 8104 - 8090 & on sustaining below 8081 we may see a further downmove till 8019 . 

Nifty Spot Levels for the day are

Long above 8189 for 8209 - 8232 - 8295 , SL 8167

Short below 8124 for 8104 - 8081 - 8019 , SL 8147

BANK NIFTY


Bank Nifty spot opened at 17348.35 made a low at 17327.65, went up till 17543.30 before closing at 17511.80. We had mentioned long positions can be taken above 17455 and short positions can be taken below 17274 for the day.  Bank Nifty triggered our long trade and completed nearly 2 targets giving around 95 points . 

Had been mentioning this for the past few days 'Bank Nifty will be strong once we get a consecutive close above 17002 . Sustaining / closing below 16012 we may see upto 15710 and sustaining / closing above 17030 we may see upto 17400' Now we have achieved our target of 17400 and done 100 points more . For this weeknow Bank Nifty spot has resistance at 17740 and above that near 17881- 17981 levels and has support at 17284 and below that near 17143 - 17042 levels 

For today if Bank Nifty spot sustains above 17565 - 17598 we can see a initial move upto 17651 - 17689 & on sustaining above 17712 we may see further upmove  till 17877. Similarly if Bank Nifty sustains below 17459 - 17426 we may see a initial move on the downside upto 17372 - 17334 &  on sustaining below 17311  we may see further downmove till 17146


Bank Nifty Spot Levels for the day are

Long above 17598 for 17651 – 17712 – 17877 , SL 17538

Short below 17426 for 17372 – 17311 – 17146 , SL 17485

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and trades taken on them should be done with a strict trailing stop loss

Weekly Outlook for Dow 30 & Crude Oil Futures for 30th May to 03rd June

Dow 30

This week Dow went up 390.77 points over last weeks close and finally ended the week with a gain of around 372.28 points compared to last weekly closing 

Last week we had mentioned that Dow needs to break and sustain above 17560 to confirm uptrend and Dow needs to break and confirm below 17351 to confirm downtrend.  Dow made a high of 17891.71 and low of 17480.05 for the week. Those who would have taken the long trade would have got 260 points.


In the coming week Dow needs to break and sustain above 17986 to confirm uptrend and then one can expect a move till 18106 initially and breaking and sustaining above 18137 will give further confirmation for the next move which can take us till 18355. Similarly Dow needs to break and sustain below 17758 to confirm downtrend and then one can expect a move till 17637 initially and breaking and sustaining below 17606 will give further confirmation for the next move which can take us till 17389.


Dow Levels for the week are

Long above 17942 , Tgt  17986 - 18021 - 18056

IF Dow manages to get a close / sustain above 18106 then ,

long again for 18137 - 18241 - 18355

Short below 17801 , Tgt 17758 - 17722 - 17687

IF Dow manages to get a close / sustain below 17637 then, 

short again for 17606 - 17503 - 17389



CRUDE OIL FUT

This week Crude Oil Fut went up 2.46 points over last weeks close and finally ended the week with a gain of around 1.84 points compared to last weekly closing 

Last week we had mentioned that Crude Oil Fut needs to break and sustain above 49.19 to confirm uptrend and Crude Oil Fut needs to break and confirm below 47.70 to confirm downtrend.  Crude Oil Fut made a high of 50.21 and low of 47.40 for the week. 

In the coming week Crude needs to break and sustain above 49.76 to confirm uptrend and then one can expect a move till 50.21 initially and breaking and sustaining above 50.32 will give further confirmation of the next move which can take us till 51.14 . Similarly sustaining or closing below 48.90 can make Crude test lower levels till 48.45 initially and breaking and sustaining below 48.34 will give further confirmation of the next move which can take us down till 47.52 .

Crude Levels for the week are

Long above 49.59 , Tgt 49.76 - 49.89 - 50.02

IF Crude manages to get a close / sustain above 50.21 then 

long again for 50.32 - 50.71 - 51.14

Short below 49.06 , Tgt 48.90 - 48.77 - 48.64

IF Crude manages to get a close / sustain below 48.45 then 


short again for 48.34 - 47.95 - 47.52

Saturday, 28 May 2016

Weekly Spot Outlook for Nifty & Bank Nifty for 30th May to 3rd June

NIFTY

This week Nifty spot went up 414 points over last weeks close and finally ended the week with a gain of around 407 points compared to last weekly closing 

Last week we had mentioned that Nifty Spot needs to break and sustain above 7800 to confirm uptrend and Nifty spot needs to break and sustain below 7700 to confirm downtrend. Nifty made a high of 8164.20 and low of 7715.80 for the week. From 7715.80 Nifty went up to trigger our long call and completed all our targets and more . Those who would have entered the long trade would have got 180 points till the last targets and nearly double by using TSL .

In the coming week Nifty spot needs to break and sustain above 8243 to confirm uptrend and then one can expect a move till 8334 initially and breaking and sustaining above 8357 will give further confirmation for the next move which can take us till 8522. Similarly Nifty spot needs to break and sustain below 8070 to confirm downtrend and then one can expect a move till 7979 initially and breaking and sustaining below 7956 will give further confirmation for the next move which can take us till 7792.


Nifty Spot Levels for the week are

Long above 8210 , Tgt  8243 - 8269 - 8296

IF Nifty spot manages to get a close / sustain above 8334 then ,

long again for 8357 - 8436 - 8522

Short below 8103 , Tgt 8070 - 8044 - 8017

IF Nifty spot manages to get a close / sustain below 7979 then, 

short again for 7956 - 7878 - 7792



BANK NIFTY

This week Bank Nifty spot went up 1062 points over last weeks close and finally ended the week with a gain of 1030 points compared to last weekly closing  

Last week we had mentioned that Bank Nifty Spot needs to break and sustain above 16593 to confirm uptrend and Bank Nifty spot needs to break and sustain below 16370 to confirm downtrend. Bank Nifty made a high of 17543.30 and a low of 16368 .From 17368 Bank Nifty went up to trigger our long call and completed all our targets and more. Those who would have entered the long trade would have got 361 points till the last target and more than double by using TSL . Bank Nifty did not sustain below 16370 even for a minute on both Monday and Tuesday indicating it was not willing to go down.

In the coming week Bank Nifty spot needs to break and sustain above 17740 to confirm uptrend and then one can expect a move till 17981 initially and breaking and sustaining above 18042 will give further confirmation of the next move which can take us till 18478 . Similarly sustaining or closing below 17284 can make Bank Nifty test lower levels till 17042 initially and breaking and sustaining below 16981 will give further confirmation of the next move which can take us down till 16545.

Bank Nifty Spot Levels for the week are

Long above 17653 , Tgt 17740 - 17811 - 17881

IF Bank Nifty spot manages to get a close / sustain above 17981 then 

long again for 18042 - 18250 - 18478

Short below 17371 , Tgt 17284 - 17213 - 17143

IF Bank Nifty spot manages to get a close / sustain below 17042 then 

short again for 16981 - 16773 - 16545


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 my initial previous posts of 2015 kindly go to :-
 https://simplytradestocks.wordpress.com

Friday, 27 May 2016

Nifty & Bank Nifty Spot Outlook for 27th May

Nifty spot opened  at 7974.45 , made a low for the day at 7948.50 , went up till 8083 before closing at 8069.65 . Had mentioned that long positions can be taken above 7965 and short positions can be taken below 7905 for the day .Today Nifty triggered our long trade and completed all targets again giving around 100 points  . Today was a superb day again to trade with TSL .

 Had been mentioning this for the past few days ' Nifty will be strong once we get a consecutive close above 7980 spot . Nifty has been trading now in a range of 7678 - 7992 now for the past 28 sessions . Sustaining / closing below 7678 we may see Nifty test 7545 spot and sustaining / closing above 7992 we may see a test upto 8154 . Sustaining / closing above 7992 will open space for another 150 - 200 points. Nifty today gave its first close above 8000 since 04th Nov 2015 after 135 trading days.

For today if Nifty spot sustains above 8089 - 8101 we can see a initial move upto 8121 - 8134 & on sustaining above 8143 we may see further upmove till 8203. Similarly if Nifty spot sustains below 8050 - 8038 we may see a initial move on the downside upto 8019 - 8005 & on sustaining below 7996 we may see a further downmove till 7936


Nifty Spot Levels for the day are

Long above 8101 for 8121 - 8143 - 8203 , SL 8079

Short below 8038 for 8019 - 7996 - 7936 , SL 8060

BANK NIFTY


Bank Nifty spot opened at 17037.60 made a low at 16971.35, went up till 17424.05 before closing at 17359.30. We had mentioned long positions can be taken above 17077 and short positions can be taken below 16918 for the day.  Bank Nifty triggered our long trade and completed all our targets and more giving around 325 points . Today was superb day again to trade with TSL. 

Had been mentioning this for the past few days 'Bank Nifty will be strong once we get a consecutive close above 17002 . Bank Nifty has been trading in a range of 16012 - 17030 for the past 28 sessions now.  Sustaining / closing below 16012 we may see upto 15710 and sustaining / closing above 17030 we may see upto 17400' . Sustaining  / closing above 17002 will open space for another 350 - 400 points . 

For today if Bank Nifty spot sustains above 17412 - 17445 we can see a initial move upto 17497 - 17535 & on sustaining above 17558 we may see further upmove  till 17721. Similarly if Bank Nifty sustains below 17307 - 17274 we may see a initial move on the downside upto 17221 - 17184 &  on sustaining below 17161  we may see further downmove till 16998


Bank Nifty Spot Levels for the day are

Long above 17445 for 17497 – 17558 – 17721 , SL 17386

Short below 17274 for 17221 – 17161 – 16998 , SL 17333

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and trades taken on them should be done with a strict trailing stop loss

Wednesday, 25 May 2016

Nifty & Bank Nifty Spot Outlook for 26th May

Nifty spot opened  at 7811.05 , made a low for the day at 7809.30 , went up till 7941.20 before closing at 7934.90 . Had mentioned that long positions can be taken above 7767 and short positions can be taken below 7730 for the day .Today Nifty triggered our long trade and completed all targets and a lot more  . Today was a superb day to trade with TSL . Had mentioned yesterday that we may take a cue from the global markets and one should check the weekly outlook posted on them for some clarity . Yesterday Dow had triggered the weekly long on closing and we also not only crossed our weekly longs but are also close to completing our last long target of 7961 as per our weekly outlook.

 As mentioned in the previous posts Nifty will be strong once we get a consecutive close above 7980 spot . Nifty has been trading now in a range of 7678 - 7992 now for the past 28 sessions . Sustaining / closing below 7678 we may see Nifty test 7545 spot and sustaining / closing above 7992 we may see a test upto 8154 . Had mentioned yesterday that 'But for this expiry it looks difficult for Nifty to break / sustain above 7980 spot'  but seems it is very much possible now . Sustaining / closing above 7992 will open space for another 150 - 200 points.

For today if Nifty spot sustains above 7954 - 7965 we can see a initial move upto 7984 - 7997 & on sustaining above 8005 we may see further upmove till 8062. Similarly if Nifty spot sustains below 7916 - 7905 we may see a initial move on the downside upto 7886 - 7873 & on sustaining below 7865 we may see a further downmove till 7807


Nifty Spot Levels for the day are

Long above 7965 for 7984 - 8005 - 8062 , SL 7944

Short below 7905 for 7886 - 7865 - 7807, SL 7926

BANK NIFTY


Bank Nifty spot opened at 16600.65 made a low at 16599.05, went up till 17025.85 before closing at 16997.45. We had mentioned long positions can be taken above 16497 and short positions can be taken below 16416 for the day.  Bank Nifty triggered our long trade and completed all our targets and more . Today was superb day to trade with TSL. Today not only did Bank Nifty trigger our weekly long call but also achieved our last target of 16954 from the long trade. 

As mentioned in my posts previously Bank Nifty will be strong once we get a consecutive close above 17002 . Bank Nifty has been trading in a range of 16012 - 17030 for the past 28 sessions now. Today we saw it come close to breaking it with a high of 17025.85 . Sustaining / closing below 16012 we may see upto 15710 and sustaining / closing above 17030 we may see upto 17400 . If you look at Nifty and Bank Nifty in isolation both seem to be giving different views . Had mentioned in my previous posts 'Bank Nifty does not seem keen to sustain below 16018 and Nifty above 7980 for now. Sustaining  / closing above 17002 will open space for another 350 - 400 points .

For today if Bank Nifty spot sustains above 17047 - 17077 we can see a initial move upto 17126 - 17161 & on sustaining above 17183 we may see further upmove  till 17335. Similarly if Bank Nifty sustains below 16948 - 16918 we may see a initial move on the downside upto 16869 - 16834 &  on sustaining below 16812  we may see further downmove till 16660


Bank Nifty Spot Levels for the day are

Long above 17077 for 17126 – 17183 – 17335 , SL 17022

Short below 16918 for 16869 – 16812 – 16660 , SL 16973

Tomorrow being the last day of this series my expiry view is as below

NIFTY

Upper Range - 7999

Lower Range - 7870

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and trades taken on them should be done with a strict trailing stop loss

Tuesday, 24 May 2016

Nifty & Bank Nifty Spot Outlook for 25th May

Nifty spot opened  at 7738.05 , made a low for the day at 7715.80 , towards the end went up till 7761.55 before closing at 7748.85 . Had mentioned that long positions can be taken above 7749 and short positions can be taken below 7713 for the day .Today Nifty triggered our long trade and nearly completed just one target giving around 11 points . Those of who would have realised that it did not trigger our short trade and would have go taken a long trade around 7720 with a 7 point SL would have gained more but am sure not many would have attempted this trade . Today was a better day with more clarity on trades . Mondays are usually most difficult to trade especially on expiry weeks as there is lots of volatility and unclear direction . As we are not insulated from the US markets and Crude one can keep a track of the weekly levels mentioned for both of them over the weekend. 

 As mentioned in the previous posts Nifty will be strong once we get a consecutive close above 7980 spot . Nifty has been trading now in a range of 7678 - 7992 now for the past 27 sessions . Sustaining / closing below 7678 we may see Nifty test 7545 spot and sustaining / closing above 7992 we may see a test upto 8154 . But for this expiry it looks difficult for Nifty to break / sustain above 7980 spot  .

For today if Nifty spot sustains above 7760 - 7767 we can see a initial move upto 7779 - 7787 & on sustaining above 7792 we may see further upmove till 7827. Similarly if Nifty spot sustains below 7737 - 7730 we may see a initial move on the downside upto 7719 - 7711 & on sustaining below 7706 we may see a further downmove till 7671


Nifty Spot Levels for the day are

Long above 7767 for 7779 - 7792 - 7827 , SL 7755

Short below 7730 for 7719 - 7706 - 7671, SL 7743

BANK NIFTY


Bank Nifty spot opened at 16422.35 made a low at 16368.60, went up towards the end till 16501.05 before closing at 16456.65. We had mentioned long positions can be taken above 16447 and short positions can be taken below 16369 for the day.  Bank Nifty just tested our level to go short below of 16369 and reversed today to go and trigger our long trade and completed just 1 target giving around 50 points . Those of who would have realised that it just tested our shorting range and Nifty was also holding and would have gone long from there could have gained more but am sure not many would have attempted this trade. 

As mentioned in my posts previously Bank Nifty will be strong once we get a consecutive close above 17002 . Bank Nifty has been trading in a range of 16012 - 17030 for the past 27 sessions now. Sustaining / closing below 16012 we may see upto 15710 and sustaining / closing above 17030 we may see upto 17400 . If you look at Nifty and Bank Nifty in isolation both seem to be giving different views . Bank Nifty does not seem keen to sustain below 16018 and Nifty above 7980 for now.

For today if Bank Nifty spot sustains above 16482 - 16497 we can see a initial move upto 16522 - 16540 & on sustaining above 16551 we may see further upmove  till 16629. Similarly if Bank Nifty sustains below 16432 - 16416 we may see a initial move on the downside upto 16391 - 16373 &  on sustaining below 16362  we may see further downmove till 16285


Bank Nifty Spot Levels for the day are

Long above 16497 for 16522 – 16551 – 16629 , SL 16469

Short below 16416 for 16391 – 16362 – 16285 , SL 16444

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and trades taken on them should be done with a strict trailing stop loss

Monday, 23 May 2016

Nifty & Bank Nifty Spot Outlook for 24th May

Nifty spot opened  at 7813.95 , made a high for the day at 7820.60 , towards the end went down till 7722.20 before closing at 7731.05 . Had mentioned that long positions can be taken above 7769 and short positions can be taken below 7731 for the day .Today Nifty triggered our long trade at opening and nearly completed all our targets not giving anyone a chance to enter at opening . But later we go a chance to enter longs again when Nifty made a low of 7740 and reversed triggering our long trade and went up till 7800 giving us nearly 30 points and then again corrected and triggered our short trade towards close but did not complete any targets and managed to close exactly at our shorting level of 7731.05. For the entire day nearly Nifty nearly traded within our short below range of 7731 and last target for longs at 7830 . It was a good day for swing trading . As mentioned in the previous posts Nifty will be strong once we get a consecutive close above 7980 spot . Nifty has been trading in a range of 7678 - 7992 now for the past 26 sessions . Sustaining / closing below 7678 we may see Nifty test 7545 spot and sustaining / closing above 7992 we may see a test upto 8154 . But for this expiry it looks difficult for Nifty to break / sustain above 7980 spot  .

For today if Nifty spot sustains above 7742 - 7749 we can see a initial move upto 7761 - 7769 & on sustaining above 7774 we may see further upmove till 7808. Similarly if Nifty spot sustains below 7720 - 7713 we may see a initial move on the downside upto 7702 - 7693 & on sustaining below 7689 we may see a further downmove till 7654


Nifty Spot Levels for the day are

Long above 7749 for 7761 - 7774 - 7808 , SL 7737

Short below 7713 for 7702 - 7689 - 7654 , SL 7725

BANK NIFTY


Bank Nifty spot opened at 16560.15 made a high at 16604.15, went down towards the end till 16368 before closing at 16407.55. We had mentioned long positions can be taken above 16524 and short positions can be taken below 16439 for the day.  Bank Nifty triggered a long trade at opening and completed 2 targets but we did not get a chance to enter. Bank Nifty later on gave us another chance to enter when it went up after triggering our short trade and reversing after EU opened and completed 2 targets giving us nearly 75 points and took our TSL . Bank Nifty then  triggered our short trade and completed 2 targets giving around 60 points . Overall it was a good day for swing traders with a lot of volatility . These kind of swing moves are happening due to uncertainity by the index on its further direction. As mentioned in my posts previously Bank Nifty will be strong once we get a consecutive close above 17002 . Bank Nifty has been trading in a range of 16012 - 17030 for the past 26 sessions now. Sustaining / closing below 16012 we may see upto 15710 and sustaining / closing above 17030 we may see upto 17400 . If you look at Nifty and Bank Nifty in isolation both seem to be giving different views . Bank Nifty does not seem keen to sustain below 16018 and Nifty above 7980 for now.

For today if Bank Nifty spot sustains above 16432 - 16447 we can see a initial move upto 16471 - 16488 & on sustaining above 16498 we may see further upmove  till 16573. Similarly if Bank Nifty sustains below 16383 - 16369 we may see a initial move on the downside upto 16344 - 16327 &  on sustaining below 16317  we may see further downmove till 16242


Bank Nifty Spot Levels for the day are

Long above 16447 for 16471 – 16498 – 16573 , SL 16420

Short below 16369 for 16344 – 16317 – 16242 , SL 16396

Being the last week for this series am writing the tentative expiry levels expected by me for Nifty & Bank Nifty with still 3 trading sessions to go . Will update with the final expectation in the post for Thursday.

Nifty Upper Range - 7845

Nifty Lower Range - 7615 

Bank Nifty Upper Range  - 16650

Bank Nifty Lower Range - 16165

To view all our previous posts kindly go to  https://simplytradestocks.wordpress.com

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog.

Disclaimer : These are my personal views and trades taken on them should be done with a strict trailing stop loss