Sunday, 31 July 2016

Bank Nifty Spot Outlook for 01st August

BANK NIFTY


Bank Nifty spot opened at 19047.05 made a high of 19070.15 , then went down till 18912.60 , before closing at 18953.15 . We had mentioned long positions can be taken above 19138 and short positions can be taken below 19015 for the day.  Bank Nifty triggered our short trade and completed 2 targets giving around 80 points . Have been mentioning since quite some time in my posts that since Bank Nifty had initially outperformed we see a small correction come if we dont get a consecutive close above 19155 . Its now 10 trading sessions since Bank Nifty made the high if 19158 in July and we saw Nifty make new monthly highs till the expiry day of July series post that  .  For the weekly and monthly closing Bank Nifty spot failed to give us a close above 19000 . If Bank Nifty breaks and sustains above 19158 then we may see a further upmove till 19295 - 19340 spot levels. We may see a correction till 18790 and below it till 18611 levels before moving up further if Bank Nifty does not break above 19158 this week.


Trend reversal in Bank Nifty for this series would be consecutive closing below 18609 and trend continuation would be on consecutive closing above 19297 spot . 

For today if Bank Nifty spot sustains above 19016 we can see a initial move upto 19082 & on sustaining above 19099 we may see further upmove  till 19219. Similarly if Bank Nifty spot sustains below 18890 we may see a initial move on the downside upto 18824 &  on sustaining below 18807 we may see further downmove till 18687

Bank Nifty Spot Levels for the day are

Long above 19016 for 19055 – 19099 – 19219 , SL 18934

Short below 18890 for 18852 – 18807 – 18687 , SL 18973


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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Nifty Spot Outlook for 01st August

NIFTY


Nifty spot opened  at 8668.30,  made a high of 8670.35 , went down till 8631.15 before closing at 8638.50 . We had mentioned that long positions can be taken above 8684 and short positions can be taken below 8648 for the day . Nifty triggered our short trade and completed just 1 targets giving us around 15 points . Nifty has given a second close today within our current resistance zone of 8630 - 8660 and now we would need to break and sustain above 8685 to move up further till  8714 - 8734 spot levels initially and beyond it till 8836 .  We may see a correction till 8575 - 8556 levels possibly this week before moving up further. The correciton can get extended till 8488 - 8442 once Nifty sustains below 8542 

Trend reversal in Nifty for this series would be consecutive closing below 8542 and trend continuation would be on consecutive close above 8735 spot . 

For today if Nifty spot sustains above 8656 we can see a initial move upto  8675 & on sustaining above 8679 we may see further upmove till 8713. Similarly if Nifty spot sustains below 8621 we may see a initial move on the downside upto 8602 & on sustaining below 8598 we may see a further downmove till 8564


Nifty Spot Levels for the day are

Long above 8656 for 8667 - 8679 - 8713 , SL 8633

Short below 8621 for 8610 - 8598 - 8564 , SL 8644


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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Saturday, 30 July 2016

Weekly Spot Outlook of Bank Nifty for 01st to 05th August


BANK NIFTY

This week Bank Nifty spot went up 436 points  and went down 118 points over last weeks close and finally ended the week with a gain of 263 points compared to last weekly closing  


Last week we had mentioned that Bank Nifty Spot needs to break and sustain above 18851 to confirm uptrend and Bank Nifty spot needs to break and sustain below 18529 to confirm downtrend. Bank Nifty made a high of 19126.75 and a low of 18572.10 .


This week Bank Nifty triggered our long trade and completed 4 targets giving 300 points from the long trade. Had also mentioned in the previous weekly outlooks that 'We are now near a strong resistance level of 19155 as per our levels and one should watch out for a consecutive close above this level for more immediate upside as we may see a small correction atleast till near 18600 - 18400 levels before moving up further' . Last week we had  seen a high of 19158 & this week we saw a high of 19126.75. So Bank Nifty took resistance as expected near 19155 - 19185 levels even though Nifty made new highs above the previous weeks high. This can be attributed to the fact that Bank Nifty had been out performing Nifty. 


Trend continuation in Bank Nifty Spot for the month of August would be on a consecutive close above 19297 and trend reversal would be on a consecutive close below 18609.


In the coming week Bank Nifty spot needs to break and sustain above 19119 to confirm uptrend and then one can expect a move till 19295 initially and breaking and sustaining above 19340 will give further confirmation of the next move which can take us till 19657 . Similarly Bank Nity spot needs to break and sustain below 18787 to confirm downtrend and then one can expect a move till 18611 initially and breaking and sustaining below 18567 will give further confirmation of the next move which can take us down till 18249.


Bank Nifty Spot Levels for the week are

Long above 19056 , Tgt 19119 - 19171 - 19222

IF Bank Nifty spot manages to get a close / sustain above 19295 then 

long again for 19340 - 19491 - 19657

Short below 18850 , Tgt 18787 - 18736 - 18684

IF Bank Nifty spot manages to get a close / sustain below 18611 then 

short again for 18567 - 18415 - 18249


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 one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Weekly Spot Outlook of Nifty for 01st to 5th August

NIFTY

This week Nifty spot went up 133 points and went down 24 points from last weeks close and finally ended the week with a gain of 97 points compared to last weekly closing . 


Last week we had mentioned that Nifty Spot needs to break and sustain above 8578 to confirm uptrend and Nifty spot needs to break and sustain below 8505 to confirm downtrend. Nifty made a high of 8674.70 and a low of 8517.20 for the week


This week  Nifty triggered our long trade and completed 5 targets giving us nearly 100 points from the long trade . As mentioned in the previous weekly post we were expecting Nifty to test 8630 - 8660 levels if it managed break and sustain above 8595 and Nifty completed our targets once it sustained above it .  We are now within our July months next resistance zone of 8630 - 8660 and now we would need to break and sustain above 8685 this week to move up further from here . 


Trend continuation in Nifty spot for the month of August would be on a consecutive close above 8735 and trend reversal would be on a consecutive close below 8542 


In the coming week Nifty spot needs to break and sustain above 8685 to confirm uptrend and then one can expect a move till 8734 initially and breaking and sustaining above 8747 will give further confirmation for the next move which can take us up till 8836. Similarly Nifty spot needs to break and sustain below 8592 to confirm downtrend and then one can expect a move till 8543 initially and breaking and sustaining below 8530 will give further confirmation for the next move which can take us down till 8441.


Nifty Spot Levels for the week are

Long above 8667 , Tgt  8685 - 8699 - 8714

IF Nifty spot manages to get a close / sustain above 8734 then ,

long again for 8747 - 8789 - 8836

Short below 8610 , Tgt 8592 - 8578 - 8563

IF Nifty spot manages to get a close / sustain below 8543 then, 

short again for 8530 - 8488 - 8441


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 one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

Thursday, 28 July 2016

Bank Nifty Spot Outlook for 29th July

BANK NIFTY


Bank Nifty spot opened at 19050.40, made a high of 19126.75 , then went down till 18998.80 , before closing at 19076.55 . We had mentioned long positions can be taken above 19083 and short positions can be taken below 18960 for the day.  Bank Nifty triggered our long trade and completed just 1 target giving around 40 points . As have been mentioning in the previous posts  'Bank Nifty has outperformed for the last few days and we may see a small correction come if we do not get a consecutive close above 19155' . Bank Nifty high till now for this month is 19158 . Today for the 4th day again Bank Nifty was unable to make a new high inpsite of Nifty making one more new high for this month . Those holding longs should again keep 18934 as TSL for their positions now . If we break 18790 and sustain then again we can see a test of our support zone of 18620 - 18520 and further correction would come only on breaking and sustaining below this zone . Bank Nifty needs to break above 19155 - 19185 zone to test 19240 - 19370 levels. Those looking to short near 19240 - 19350 should do so with a cbsl of 19380 spot .  Had mentioned yesterday 'Now we would need to break and sustain above 19065 for the next weekly targets' and today Bank Nifty has given a close above it and if sustains above it tomorrow should try to break 19155 - 19185 resistance zone  . 'We may see a correction from 19155 - 19185 upto 18620 - 18520 levels if 18790 spot is broken and sustained . Today we have got our second close above 19000 spot for this month and now we need to break and sustain above 19155 - 19185 zone to see a quick move upto 19300 and failing to do so we may see a test of 18851 - 18790.

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 today if Bank Nifty spot sustains above 19138 we can see a initial move upto 19202 & on sustaining above 19219 we may see further upmove  till 19336. Similarly if Bank Nifty spot sustains below 19015 we may see a initial move on the downside upto 18951 &  on sustaining below 18934 we may see further downmove till 18818

Bank Nifty Spot Levels for the day are

Long above 19138 for 19175 – 19219 – 19336 , SL 19058

Short below 19015 for 18978 – 18934 – 18818 , SL 19095


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

Nifty Spot Outlook for 29th July

NIFTY


Nifty spot opened  at 8636.95,  made a low of 8625.25 , went up till 8674.70 before closing at 8666.30 . We had mentioned that long positions can be taken above 8633 and short positions can be taken below 8598 for the day . Nifty triggered our long trade and completed 2 targets giving us around 30 points . Today Nifty closed just above our next resistance zone of 8630 - 8660 and now it has to sustain above this and give a consecutive close above 8675 which will open doors till 8824 as mentioned in yesterdays post . Those holding longs should book if Nifty fails to sustain above 8675 tomorrow as we may then test the support near 8556 - 8575 . Longs looking to enter on any correction  near these levels should keep a cbsl of 8554 . Also those looking to go short should keep a cbsl of 8675 as mentioned previously too . We may see a correction from these 8660 - 8675 levels upto 8575 - 8556 and further till 8488 - 8476 incase 8554 spot is now broken and sustained .  

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 today if Nifty spot sustains above 8684 we can see a initial move upto  8703 & on sustaining above 8708 we may see further upmove till 8742. Similarly if Nifty spot sustains below 8648 we may see a initial move on the downside upto 8630 & on sustaining below 8625 we may see a further downmove till 8591


Nifty Spot Levels for the day are

Long above 8684 for 8695 - 8708 - 8742 , SL 8661

Short below 8648 for 8637 - 8625 - 8591 , SL 8672


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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, 27 July 2016

Bank Nifty Spot Outlook for 28th July

BANK NIFTY


Bank Nifty spot opened at 18908.45, made a high of 19125 , then went down till 18882.40 , before closing at 19021.95 . We had mentioned long positions can be taken above 18926 and short positions can be taken below 18790 for the day.  Bank Nifty triggered our long trade and nearly completed all targets giving us around 180 points. As have been mentioning in the previous posts  'Bank Nifty has outperformed for the last few days and we may see a small correction come if we do not get a consecutive close above 19155' . Bank Nifty high till now for this month is 19158 . Today for the 3rd day again Bank Nifty was unable to make a new high inpsite of Nifty making a new for this month . Those holding longs should again keep 18790 as TSL for their positions . If we break 18790 and sustain then again we see a test of our support zone of 18620 - 18520 and further correction would come only on breaking and sustaining below this zone . Had also mentioned in the previous post  ' As of now breaking and sustaining below 18620 - 18520 levels we can expect next support coming near 18370 - 18200 levels on Bank Nifty spot and breaking and sustaining above 19155 -  19185 we can expect next resistance near 19240 - 19350  . Those looking to go long on a correction till 18200  should keep a cbsl of 18170 spot and those looking to short near 19240 - 19350 should do so with a cbsl of 19380 spot .  Had mentioned yesterday 'Now we would need to break and sustain above 19065 for the next weekly targets' and those would have shorted at todays high with this view would have gained more points .Had also mentioned yesterday that 'We may see a correction from 19155 - 19185 upto 18620 - 18520 levels if 18790 spot is broken and sustained tomorrow. Today there was short trade also available from the day high with 19185 as SL and if anyone would have taken it would have got additional points .After the consolidation we have seen of the last 3 sessions in Bank Nifty we may see a good move coming tomorrow as its also the expiry day of this series .Today we have got our first close above 19000 spot for this series though we had broken above it on 7 occassions .Now if we break and sustain above 19155 - 19185 zone we may see a quick move upto 19300 .

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 today if Bank Nifty spot sustains above 19083 we can see a initial move upto 19149 & on sustaining above 19165 we may see further upmove  till 19282. Similarly if Bank Nifty spot sustains below 18960 we may see a initial move on the downside upto 18895 &  on sustaining below 18879 we may see further downmove till 18761

Bank Nifty Spot Levels for the day are

Long above 19083 for 19121 – 19165 – 19282 , SL 19003

Short below 18960 for 18922 – 18879 – 18761 , SL 19041


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

Nifty Spot Outlook for 28th July

NIFTY


Nifty spot opened  at 8599.40,  made a high of 8665 , went down till 8572.05 before closing at 8615.80 . We had mentioned that long positions can be taken above 8609 and short positions can be taken below 8573 for the day . Nifty triggered our long trade and nearly completed 3 targets giving us around 50 points . From there we fell all the way down to our shorting levels of 8573 and again recovered towards the end of session . Had mentioned in yesterday's post  'Today Nifty spot closed below 8595 but it is still above our previous resistance levels of 8556 - 8575 for this month which will now act as a support. Those holding longs should now move keep a TSL of 8554 . Nifty is now seeing selling pressure near our next resistance levels of 8630 - 8660 spot . Had also mentioned in the previous posts  'Those looking to go long on a correction till 8390 should keep a cbsl of 8363 spot and those looking to short near 8650 should do so with a cbsl of 8675 spot ' . If anyone would have taken a short trade near 8660 with 8675 as SL would have made taken 70 points on the short trade when we reached our shorting levels . Also if anyone would have taken a long trade when our short got triggered and immediately reversed with seconds with SL at 8554 would have got an additional 40 points today . It was a good day for swing trades .  As mentioned in the previous post ' As of now breaking and sustaining below 8488 - 8476 we can expect next support coming near 8390 - 8363 levels on Nifty spot and breaking and sustaining above 8575 - 8595 we can expect next resistance near 8630 - 8660 ' .  Had mentioned in the previous post 'Now those holding longs should move their TSL to 8555 on closing basis or look to book if 8630 is not sustained tomorrow' Those who would have taken a short trade with this view near 8650 would gained more points .We may see a correction from 8630 - 8660 levels upto 8500 - 8480 incase 8564 spot if now broken and sustained tomorrow . Now if we get a consecutive close above 8675 then we may move towards 8824 in the coming month.

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 today if Nifty spot sustains above 8633 we can see a initial move upto  8652 & on sustaining above 8657 we may see further upmove till 8690. Similarly if Nifty spot sustains below 8598 we may see a initial move on the downside upto 8580 & on sustaining below 8575 we may see a further downmove till 8542


Nifty Spot Levels for the day are

Long above 8633 for 8644 - 8657 - 8690 , SL 8610

Short below 8598 for 8587 - 8575 - 8542 , SL 8621

We are on the last day of July series and the expected expiry range is 

Upper Range - 8685

Lower Range - 8546 

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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, 26 July 2016

Bank Nifty Spot Outlook for 27th July

BANK NIFTY


Bank Nifty spot opened at 18979.10, made a high of 19044.45 , then went down till 18814.25 , before closing at 18860.85 . We had mentioned long positions can be taken above 19053 and short positions can be taken below 18927 for the day.  Bank Nifty triggered our short trade and completed 2 targets giving us around 100 points. As have been mentioning in the previous posts  'Bank Nifty has outperformed for the last few days and we may see a small correction come if we do not get a consecutive close above 19155' . Bank Nifty high till now for this month is 19158 . Today again Bank Nifty was unable to make a new high inpsite of Nifty making a new for this month . Those holding longs should again keep 18790 as TSL for their positions . If we break 18790 and sustain then again we see a test of our support zone of 18620 - 18520 and further correction would come only on breaking and sustaining below this zone . Had also mentioned in the previous post  ' As of now breaking and sustaining below 18620 - 18520 levels we can expect next support coming near 18370 - 18200 levels on Bank Nifty spot and breaking and sustaining above 19155 -  19185 we can expect next resistance near 19240 - 19350  . Those looking to go long on a correction till 18200  should keep a cbsl of 18170 spot and those looking to short near 19240 - 19350 should do so with a cbsl of 19380 spot .  Had mentioned yesterday 'Now we would need to break and sustain above 19065 for the next weekly targets' and those would have shorted at todays high with this view would have gained more points .We may see a correction from 19155 - 19185 upto 18620 - 18520 levels if 18790 spot is 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 today if Bank Nifty spot sustains above 18926 we can see a initial move upto 18995 & on sustaining above 19012 we may see further upmove  till 19136. Similarly if Bank Nifty spot sustains below 18790 we may see a initial move on the downside upto 18727 &  on sustaining below 18710 we may see further downmove till 18586.

Bank Nifty Spot Levels for the day are

Long above 18926 for 18966 – 19012 – 19136 , SL 18841

Short below 18790 for 18756 – 18710 – 18586 , SL 18881


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

Nifty Spot Outlook for 27th July

NIFTY


Nifty spot opened  at 8633.75,  made a high of 8644.90 , went down till 8577.15 before closing at 8590.65 . We had mentioned that long positions can be taken above 8652 and short positions can be taken below 8619 for the day . Nifty triggered our short trade and completed 2 targets giving us around 40 points . Today Nifty spot closed below 8595 but it is still above our previous resistance levels of 8556 - 8575 for this month which will now act as a support . Those holding longs should now move keep a TSL of 8554 . Nifty is now seeing selling pressure near our next resistance levels of 8630 - 8660 spot .   As mentioned in the previous post ' As of now breaking and sustaining below 8488 - 8476 we can expect next support coming near 8390 - 8363 levels on Nifty spot and breaking and sustaining above 8575 - 8595 we can expect next resistance near 8630 - 8660 ' .  Had mentioned in the previous post 'Now those holding longs should move their TSL to 8555 on closing basis or look to book if 8630 is not sustained tomorrow' .  Also as mentioned in the last post 'Those looking to go long on a correction till 8390 should keep a cbsl of 8363 spot and those looking to short near 8650 should do so with a cbsl of 8675 spot '. Those who would have taken a short trade with this view near 8650 would gained more points .We may see a correction from 8630 - 8660 levels upto 8500 - 8480 incase 8564 spot if now 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 today if Nifty spot sustains above 8609 we can see a initial move upto  8628 & on sustaining above 8633 we may see further upmove till 8667. Similarly if Nifty spot sustains below 8573 we may see a initial move on the downside upto 8554 & on sustaining below 8549 we may see a further downmove till 8514


Nifty Spot Levels for the day are

Long above 8609 for 8620 - 8633 - 8667 , SL 8585

Short below 8573 for 8561 - 8549 - 8514 , SL 8596


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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, 25 July 2016

Bank Nifty Spot Outlook for 26th July

BANK NIFTY


Bank Nifty spot opened at 18594.95, made a low of 18572.10 , then went up till 19035.35 , before closing at 18989.60 . We had mentioned long positions can be taken above 18751 and short positions can be taken below 18630 for the day.  Bank Nifty opened below our short trade levels and reversed from below 1st target . From there Bank Nifty went on to trigger our long trade and achieved all 3 targets and more giving us nearly 250+ points with TSL . Had mentioned in the last post that 'Bank Nifty has outperformed for the last few days and we may see a small correction come if we do not get a consecutive close above 19155' . Bank Nifty high till now for this month is 19158 . Today though Nifty made a new high for this month, Bank Nifty is yet to do the same . Had also mentioned that Bank Nifty had taken support on Friday within our support zone of 18620 - 18520 and further correction would come only on breaking and sustaining below this zone . Bank Nifty had closed below the TSL for longs of 18790 on the last 2 days and today it moved up sharply on sustaining above it . Had also mentioned in the previous post  ' As of now breaking and sustaining below 18620 - 18520 levels we can expect next support coming near 18370 - 18200 levels on Bank Nifty spot and breaking and sustaining above 19155 -  19185 we can expect next resistance near 19240 - 19350  . Those looking to go long on a correction till 18200  should keep a cbsl of 18170 spot and those looking to short near 19240 - 19350 should do so with a cbsl of 19380 spot .  Today Bank Nifty also completed 4 targets as per our  weekly levels but failed to close above our levels to stay long . Now we would need to break and sustain above 19065 for the next weekly targets.

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 today if Bank Nifty spot sustains above 19053 we can see a initial move upto 19119 & on sustaining above 19136 we may see further upmove  till 19256. Similarly if Bank Nifty spot sustains below 18927 we may see a initial move on the downside upto 18860 &  on sustaining below 18843  we may see further downmove till 18723

Bank Nifty Spot Levels for the day are

Long above 19053 for 19092 – 19136 – 19256 , SL 18970

Short below 18927 for 18888 – 18843 – 18723 , SL 19009


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