Thursday, 30 June 2016

Nifty & Bank Nifty Spot Outlook for 01st July

NIFTY


Nifty spot opened  at 8260.25, made a low at 8242.10 , went up till 8308.15  before closing at 8287.75 . Had mentioned that long positions can be taken above 8233 and short positions can be taken below 8175 for the day . Nifty triggered our long trade and completed 2 targets and more giving around 60 points . Today we saw Nifty finally break above 8300 and breaking the resistance it was facing just below it for the entire series near 8285 - 8295 but could not close strongly above it . But we have closed above 8274 as per our weekly levels which if sustained can take us further towards the last 2 targets pending for this week. We have good resistance at 8338 spot which we have been mentioning all through June series and firstly we should wait for it to be broken and sustained tomorrow . 

Trend reversal in Nifty for this series would be consecutive closing below 8122 and trend continuation would be on consecutive close above 8454 spot . 

For June series had mentioned 'Trend reversal in Nifty for this series would be consecutive closing below 7982 and trend continuation would be on consecutive close above 8338 spot '. and we could not get a single close above or below these levels.

For today if Nifty spot sustains above 8318 we can see a initial move upto  8350 & on sustaining above 8358 we may see further upmove till 8416. Similarly if Nifty spot sustains below 8257 we may see a initial move on the downside upto 8225 & on sustaining below 8217 we may see a further downmove till 8160

Nifty Spot Levels for the day are

Long above 8318 for 8337 - 8358 - 8416 , SL 8278

Short below 8257 for 8239 - 8217 - 8160 , SL 8297


BANK NIFTY


Bank Nifty spot opened at 17825.30, made a low at 17795.90 ,went up till 17975.05 before closing at 17935.40 . We had mentioned long positions can be taken above 17763 and short positions can be taken below 17617 for the day.  Bank Nifty triggered our long trade and nearly completed all 3 targets giving around 160 points . Today Bank Nifty was unable to break above its high for this series of 18051 inspite of Nifty breaking above 8300. But we have closed above 17927 which if sustained can take us further towards the last 2 targets pending for this week . We have good resistance near 18089 which we have been mentioning all through June series and firstly we should wait for it to be broken and sustained tomorrow ..

Trend reversal in Bank Nifty for this series would be consecutive closing below 17500 and trend continuation would be on consecutive close above 18371 spot .

For June series had mentioned 'Trend reversal in Bank Nifty for this series would be consecutive closing below 17152 and trend continuation would be on consecutive close above 18089 spot '. and we could not get a single close above or below these levels.

For today if Bank Nifty spot sustains above 18015 we can see a initial move upto 18099 & on sustaining above 18120 we may see further upmove  till 18272. Similarly if Bank Nifty spot sustains below 17856 we may see a initial move on the downside upto 17772 &  on sustaining below 17751  we may see further downmove till 17599.

Bank Nifty Spot Levels for the day are

Long above 18015 for 18064 – 18120 – 18272 , SL 17911

Short below 17856 for 17807 – 17751 – 17599 , SL 17960

Our expiry upper range mentioned for Nifty was at 8273 and Nifty expired at 8287 and for Bank Nifty was at 17840 and Bank Nifty expired way above it at 17935 for June series 

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

Wednesday, 29 June 2016

Nifty & Bank Nifty Spot Outlook for 30th June

NIFTY


Nifty spot opened  at 8173.10, made a low at 8157.65 , went up till 8212.40  before closing at 8204 . Had mentioned that long positions can be taken above 8168 and short positions can be taken below 8100 for the day . Nifty triggered our long trade and completed 2 targets giving around 40 points . Today we saw Nifty reclaiming 8200 on closing . Our weekly longs got confirmed today and we nearly achieved our 3rd initial target of 8218 for the week . We can see it getting extended till 8253 spot but for further upmove Nifty spot will have to break and sustain above 8274 . 

Trend reversal in Nifty for this series would be consecutive closing below 7982 and trend continuation would be on consecutive close above 8338 spot .

For today if Nifty spot sustains above 8233 we can see a initial move upto  8263 & on sustaining above 8274 we may see further upmove till 8325. Similarly if Nifty spot sustains below 8175 we may see a initial move on the downside upto 8145 & on sustaining below 8138 we may see a further downmove till 8083 

Nifty Spot Levels for the day are

Long above 8233 for 8250 - 8270 - 8325 

Short below 8175 for 8158 - 8138 - 8083 


BANK NIFTY


Bank Nifty spot opened at 17643.85, made a low at 17580.50 ,went up till 17728.95 before closing at 17689.90 . We had mentioned long positions can be taken above 17642 and short positions can be taken below 17486 for the day.  Bank Nifty triggered our long trade at opening and also took our SL for intraday but did not test our SL for weekly buy which was at 17559 . It then went up to complete nearly 2 targets on the long side giving around 80 points . Today Bank Nifty has confirmed our weekly long trade by closing above 17642 which can now show us  a move till 17870 but for further upmove Bank Nifty will have to break and sustain above 17927 .

Trend reversal in Bank Nifty for this series would be consecutive closing below 17152 and trend continuation would be on consecutive close above 18089 spot .

For today if Bank Nifty spot sustains above 17763 we can see a initial move upto 17840 & on sustaining above 17859 we may see further upmove  till 17998. Similarly if Bank Nifty spot sustains below 17617 we may see a initial move on the downside upto 17540 &  on sustaining below 17521  we may see further downmove till 17382.

Bank Nifty Spot Levels for the day are

Long above 17763 for 17808 – 17859 – 17998 

Short below 17617 for 17572 – 17521 – 17382 

We are now on the last day of the June series and the following are the expiry range we are expecting for both the indices .

NIFTY - Expiry Range - 8135 - 8273

BANK NIFTY - Expiry Range - 17540 - 17840

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

Tuesday, 28 June 2016

Nifty & Bank Nifty Spot Outlook for 29th June

NIFTY


Nifty spot opened  at 8096.05, made a low at 8086.85 , went up till 8146.35  before closing at 8127.85 . Had mentioned that long positions can be taken above 8125 and short positions can be taken below 8064 for the day . Nifty triggered our long trade and completed just 1 target giving around 20 points . Today we saw Nifty reclaiming 8100 on closing . Our weekly longs got triggered on close above 8138  but we still need to break and sustain 8168 tomorrow for confirmation of the same , which if done can see a test of 8193 - 8218 

Trend reversal in Nifty for this series would be consecutive closing below 7982 and trend continuation would be on consecutive close above 8338 spot .

For today if Nifty spot sustains above 8168 we can see a initial move upto  8185 & on sustaining above 8193 we may see further upmove till 8246. Similarly if Nifty spot sustains below 8100 we may see a initial move on the downside upto 8071 & on sustaining below 8063 we may see a further downmove till 8010. 

Nifty Spot Levels for the day are

Long above 8168 for 8180 - 8193 - 8246 , SL 8140

Short below 8100 for 8083 - 8063 - 8010 , SL 8119


BANK NIFTY


Bank Nifty spot opened at 17497, made a low at 17481.50 ,went up till 17626.70 before closing at 17561.55 . We had mentioned long positions can be taken above 17597 and short positions can be taken below 17433 for the day.  Bank Nifty triggered our long trade but did not complete any targets today . Had mentioned in the previous post that 'Need Bank Nifty to break and sustain above 17642 spot this week for upmove to begin'. Today we got a consecutive close above 17500 but still we would need Bank Nifty to break and sustain above 17642 for any good move on the upside.Our weekly longs got triggered on close above 17559 but we still need to break and sustain 17642 tomorrow for confirmation of the same , which if done can see a test of 17775 - 17870 .

Trend reversal in Bank Nifty for this series would be consecutive closing below 17152 and trend continuation would be on consecutive close above 18089 spot .

For today if Bank Nifty spot sustains above 17642 we can see a initial move upto 17717 & on sustaining above 17737 we may see further upmove  till 17881. Similarly if Bank Nifty spot sustains below 17486 we may see a initial move on the downside upto 17406 &  on sustaining below 17386  we may see further downmove till 17242.

Bank Nifty Spot Levels for the day are

Long above 17642 for 17684 – 17737 – 17881 , SL 17585

Short below 17486 for 17440 – 17386 – 17242 , SL 17538

With now 2 days left for expiry , we are seeing a bounce on all the global indices which could be a dead cat bounce too . We may see some volatility in the next 2 days due to June series expiry too. Longs should be cautious near 8193 - 8218 spot levels on Nifty & 17774 - 17870 spot levels on Bank Nifty where we may see some resistance.

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

Monday, 27 June 2016

Nifty & Bank Nifty Spot Outlook for 28th June

NIFTY


Nifty spot opened  at 8039.35 which was also the low for the day, went up till 8120.65  before closing at 8094.70 . Had mentioned that long positions can be taken above 8119 and short positions can be taken below 8058 for the day . Nifty opened near the first target of short trade which also happened to be the level below which our weekly shorts were to get triggered and reversed . Though it opened below our short trigger there was no trade to be taken here . Later towards the 2nd half Nifty triggered our long trade but again could not complete any targets and took out SL . Overall a flat trading day as per the levels mentioned for the day. 

Trend reversal in Nifty for this series would be consecutive closing below 7982 and trend continuation would be on consecutive close above 8338 spot .

For today if Nifty spot sustains above 8125 we can see a initial move upto 8144 - 8157 & on sustaining above 8165 we may see further upmove till 8223. Similarly if Nifty spot sustains below 8064 we may see a initial move on the downside upto 8046 - 8033 & on sustaining below 8024 we may see a further downmove till 7967. 

Nifty Spot Levels for the day are

Long above 8125 for 8144 - 8165 - 8223 , SL 8104

Short below 8064 for 8046 - 8024 - 7967 , SL 8085


BANK NIFTY


Bank Nifty spot opened at 17346.85 which was also the low of the day ,went up till 17611.20 before closing at 17514.95 . We had mentioned long positions can be taken above 17508 and short positions can be taken below 17345 for the day.  Bank Nifty opened just above our level to go short and reversed from there to trigger our long trade and nearly completed 2 targets giving around 100 points . Need Bank Nifty to break and sustain above 17642 spot this week for upmove to begin.

Trend reversal in Bank Nifty for this series would be consecutive closing below 17152 and trend continuation would be on consecutive close above 18089 spot .

For today if Bank Nifty spot sustains above 17597 we can see a initial move upto 17648 - 17684 & on sustaining above 17706 we may see further upmove  till 17863. Similarly if Bank Nifty spot sustains below 17433 we may see a initial move on the downside upto 17382 - 17346 &  on sustaining below 17324  we may see further downmove till 17167 . 

Bank Nifty Spot Levels for the day are

Long above 17597 for 17648 – 17706 – 17863 , SL 17540

Short below 17433 for 17382 – 17324 – 17167 , SL 17490

With 3 days to expiry left and world markets falling heavily one should keep a watch on a few levels on the Dax & Dow . Dax will confirm its weekly sell on closing below 9289 and if that happens then it can test 9124 - 9006 where it has some support and some reversal can be expected from around these levels . Similarly Dow will confirm its weekly sell on closing below 17180 and if that happens then it can test 17043 -16946 where it has some support and some reversals can be expected from around these levels . One can expect good volatility this week and should trade with a strict SL .

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

Sunday, 26 June 2016

Nifty & Bank Nifty Spot Outlook for 27th June

NIFTY


Nifty spot opened  at 8029.10 made a low of 7927.05 ,went up till 8100.70  before closing at 8088.60 . Had mentioned that long positions can be taken above 8292 and short positions can be taken below 8249 for the day . Nifty opened below our last target on the short side for the day . Had mentioned in the previous post 'Once a trade is triggered and 1 target achieved move SL to entry point and keep moving it with every target  accordingly as we might go beyond our range too given for the day' . Those who would have followed our weekly levels would have realised that on sustianing below 8053 our last target was 7930 for this week and Nifty made a low of 7927.05 . Even entering after opening would have given 100 points from the short trade . 

Trend reversal in Nifty for this series would be consecutive closing below 7982 and trend continuation would be on consecutive close above 8338 spot .

For today if Nifty spot sustains above 8119 we can see a initial move upto 8137 - 8151 & on sustaining above 8159 we may see further upmove till 8216. Similarly if Nifty spot sustains below 8058 we may see a initial move on the downside upto 8040 - 8026 & on sustaining below 8018 we may see a further downmove till 7961. 

Nifty Spot Levels for the day are

Long above 8119 for 8137 - 8159 - 8216 , SL 8098

Short below 8058 for 8040 - 8018 - 7961 , SL 8079


BANK NIFTY


Bank Nifty spot opened at 17213.85 , made a low of 16946.35 then went up till 17459.20 before closing at 17426.05 . We had mentioned long positions can be taken above 17958 and short positions can be taken below 17826 for the day.  Bank Nifty also opened below our last target on the short side for the day .Had mentioned in the previous post 'Once a trade is triggered and 1 target achieved move SL to entry point and keep moving it with every target  accordingly as we might go beyond our range too given for the day' .Those who would have followed our weekly levels would have realised that on sustianing below 17340 our last target was 16963 for this week and Bank Nifty made a low of 16946.35 .Even entering after opening would have given 250 points from the short trade . 

Trend reversal in Bank Nifty for this series would be consecutive closing below 17152 and trend continuation would be on consecutive close above 18089 spot .

For today if Bank Nifty spot sustains above 17508 we can see a initial move upto 17558 - 17594 & on sustaining above 17615 we may see further upmove  till 17771. Similarly if Bank Nifty spot sustains below 17345 we may see a initial move on the downside upto 17294 - 17258 &  on sustaining below 17237  we may see further downmove till 17081 . 

Bank Nifty Spot Levels for the day are

Long above 17508 for 17558 – 17615 – 17771 , SL 17451

Short below 17345 for 17294 – 17237 – 17081 , SL 17401

We are now entering the expiry week for June series and we have still lots of winds blowing from the EU regarding the Brexit voting which had created chaos on Friday worldwide. One can expect good volatility this week and should trade with a strict SL .

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

Weekly Levels of Dax & Dow for 27th June to 01st July

Dax

This week Dax spot went up 709 points & went down 405 points from last weeks close and finally ended the week with a loss  of 74 points compared to last weekly closing. From the close of Thursday before the referendum it fell around 1013 points on the confirmation of Brexit intraday but managed to recover a bit and closed the day with a loss of 700 points . 

Dax has strong support near 9185 which can be tested if it closes below its monthly support of 9422 . Holding 9422 on closing is required to see it test 9630 - 9775 - 9825 where it may face resistance again .

In the coming week Dax needs to break and sustain above 9825 to confirm uptrend and then one can expect a move till 10108 initially and breaking and sustaining above 10179 will give further confirmation for the next move which can take us till 10692. Similarly Dax needs to break and sustain below 9289 to confirm downtrend and then one can expect a move till 9006 initially and breaking and sustaining below 8935 will give further confirmation for the next move which can take us till 8423.


Dax Levels for the week are

Long above 9723 , Tgt  9825 - 9908 - 9990

IF Dax manages to get a close / sustain above 10108 then ,

long again for 10179 - 10423 - 10691

Short below 9392 , Tgt 9289 - 9207 - 9124

IF Dax manages to get a close / sustain below 9006 then, 

short again for 8935 - 8691 - 8423



Dow

This week Dow went up 336 points & went down 319 points over last weeks close and finally ended the week with a loss of 275 points compared to last weekly closing. From the close of Thursday before the referendum it fell around 655 points on the confirmation of Brexit intraday and closed with nearly a loss of 611 points over the previous days close . 

Dow has strong support near 17144 which can be tested if it closes below its monthly support of 17319 . Holding 17319 on closing is required to see it test 17452 - 17586 - 17622 where it may face resistance again .

In the coming week Dow needs to break and sustain above 17622 to confirm uptrend and then one can expect a move till 17855 initially and breaking and sustaining above 17914 will give further confirmation of the next move which can take us till 18336 . Similarly Dow needs to break and sustain below 17180 to confirm downtrend and then one can expect a move till 16946 initially and breaking and sustaining below 16887 will give further confirmation of the next move which can take us down till 16465.

Dow Levels for the week are

Long above 17537 , Tgt 17622 - 17690 - 17758

IF Dow manages to get a close / sustain above 17855 then 

long again for 17914 - 18115 - 18336

Short below 17264 , Tgt 17180 - 17112 - 17043

IF Dow manages to get a close / sustain below 16946 then 

short again for 16887 - 16686 - 16465

This week could set the trend for the next big moves

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 .

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

Saturday, 25 June 2016

Weekly Spot Outlook of Nifty & Bank Nifty for 27th June to 01st July

NIFTY

This week Nifty spot went up 115 points & went down 243 points from last weeks close and finally ended the week with a loss  of 81.60 points compared to last weekly closing. 

Last week we had mentioned that Nifty Spot needs to break and sustain above 8205 to confirm uptrend and Nifty spot needs to break and sustain below 8135 to confirm downtrend. Nifty made a high of 8285.60 and low of 7927.05 for the week

This week Nifty first triggered our long trade and completed our 3 initial targets giving us 80 points from the trade . Further longs were to be added or long positions were to be held on closing / sustaining above 8287 and Nifty just fell short of 1.40 points from triggering further longs giving a indication that the upmove could be done. From there Nifty then fell to trigger our short trade and completed all 6 targets for the week and gave us 205 points from the trade . If anyone would have taken  a short at our resistance of longs with a small SL then he would have got close to 355 points in the downmove . Nifty took support just 3 points below our last weekly short level and then bounced back nearly 180 points before closing

As have discussed many times this month Nifty either needs to close below 7982 to go down further or needs to close above 8338 to go up further . On Friday there was a good chance for Nifty to close below 7982 but it bounced back sharply towards the end . However it is the first close below 8100 in the last 21 sessions and also for this series . Those who followed the levels this week would have got atleast 285 points in Nifty.

In the coming week Nifty spot needs to break and sustain above 8168 to confirm uptrend and then one can expect a move till 8253 initially and breaking and sustaining above 8274 will give further confirmation for the next move which can take us till 8427. Similarly Nifty spot needs to break and sustain below 8009 to confirm downtrend and then one can expect a move till 7924 initially and breaking and sustaining below 7903 will give further confirmation for the next move which can take us till 7750.


Nifty Spot Levels for the week are

Long above 8138 , Tgt  8168 - 8193 - 8218

IF Nifty spot manages to get a close / sustain above 8253 then ,

long again for 8274 - 8347 - 8427

Short below 8039 , Tgt 8009 - 7984 - 7959

IF Nifty spot manages to get a close / sustain below 7924 then, 

short again for 7903 - 7830 - 7750



BANK NIFTY

This week Bank Nifty spot went up 211 points & went down 749.70 points over last weeks close and finally ended the week with a loss of 270 points compared to last weekly closing  

Last week we had mentioned that Bank Nifty Spot needs to break and sustain above 17869 to confirm uptrend and Bank Nifty spot needs to break and sustain below 17589 to confirm downtrend. Bank Nifty made a high of 17907.50 and a low of 16946.35 .

This week Bank Nifty triggered our long trade and completed just 1 target giving us 60 points only and also an indication that the upmove was lacking strength . Then Bank Nifty triggered our short trade and completed all 6 targets giving us around 626 points from the trade . Bank Nifty took support just 14 points below our last weekly target and bounced back nearly 500 points before closing . 

As have discussed many times this month Bank Nifty either needs to close below 17153 to go down further or needs to close above 18089 to go up further . On Friday there was a good chance for Bank Nifty  to close below 17153 but it bounced back sharply towards the end . However it is the second close below 17500 in the last 21 sessions and also for this series . The only difference being that this time even Nifty has closed below 8100. Those who followed the levels this week would have got atleast 685 points in Bank Nifty.

In the coming week Bank Nifty spot needs to break and sustain above 17642 to confirm uptrend and then one can expect a move till 17870 initially and breaking and sustaining above 17927 will give further confirmation of the next move which can take us till 18339 . Similarly Bank Nity needs to break and sustain below 17211 to confirm downtrend and then one can expect a move till 16983 initially and breaking and sustaining below 16925 will give further confirmation of the next move which can take us down till 16513.

Bank Nifty Spot Levels for the week are

Long above 17559 , Tgt 17642 - 17708 - 17775

IF Bank Nifty spot manages to get a close / sustain above 17870 then 

long again for 17927 - 18123 - 18339

Short below 17293 , Tgt 17211 - 17144 - 17077

IF Bank Nifty spot manages to get a close / sustain below 16983 then 

short again for 16925 - 16729 - 16513

This week could set the trend for the next big moves with a few important events lined up .

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 .

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