Friday, 30 September 2016

Bank Nifty Spot Outlook for 30th September


It was a rare day today as even those who lost in the markets held their heads high with pride and walked with a smile on their faces .  


Congratulations to the Indian Army for the Surgical Strike. 


BANK NIFTY


Bank Nifty spot opened at 19762.30 and made a high of 19793.20 ,  then went down till 19059.05before closing at 19183.65 .  Had mentioned long positions can be taken above 19716 and short positions can be taken below 19591 for the day.  Bank Nifty opened above our 1st long target and reversed thereby not giving a chance to enter the long trade . Then  Bank Nifty went down to trigger our short trade for the day and completed all our intraday short targets at 19389 and corrected further to complete our last short target for the week of 19072 by making a low of 19059 today . Had mentioned in the previous posts that 'We have seen some support build near 19730 levels in the past 2 weeks and we saw that support being taken out comfortably and Bank Nifty also closed below the immediate next supports at 19702 - 19605 , below which we can expect the next support of 19495 which is also our trend reversal level to be tested' , Once it sustains below 19495 then we may see it test the next supports of 19315 - 19185 levels. Also Bank Nifty has been taking support near 18444 - 18537 levels in the entire August month so this should provide strong support incase of a deeper correction. Had mentioned in the previous post 'Now if Bank Nifty manages to hold on to 19495 we can see it go back and test 19702 - 19781 levels initially and above that we can see a test of 19850 - 19900 levels again ' and we saw Bank Nifty test 19793 levels and reverse today. Now Bank Nifty has immediate resistance at 19315 - 19495 levels . Bank Nifty has immediate support at 18975 - 18845 levels now.

Trend reversal in Bank Nifty for this series would be consecutive closing below 19495 and trend continuation would be on consecutive closing above 20080 spot . 

For today if Bank Nifty spot sustains above 19264 we can see a initial move upto 19349 & on sustaining above 19371 we may see further upmove  till 19524. Similarly if Bank Nifty spot sustains below 19103 we may see a initial move on the downside upto 19018 &  on sustaining below 18997 we may see further downmove till 18843

Bank Nifty Spot Levels for the day are

Long above 19264 for 19314
 – 19371 – 19524 , SL 19159

Short below 19103 for 19054 – 18997 – 18843 , SL 19209

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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.

Thursday, 29 September 2016

Nifty Spot Outlook for 30th September


It was a rare day today as even those who lost in the markets held their heads high with pride and walked with a smile on their faces .  


Congratulations to the Indian Army for the Surgical Strike. 


NIFTY


Nifty spot opened  at 8792.70 and made a high of 8800.65 , then went down till 8558.25 before closing at 8591.25 . Had mentioned that long positions can be taken above 8768 and short positions can be taken below 8725 for the day . Nifty opened at our 2nd target for the long trade thereby not giving a chance to enter longs today . Nifty then went down to trigger our short trade and completed all our intraday short targets till 8658 and corrected further to even complete all our weekly short targets at 8561 by making a low of 8558.25 giving around 150+ points from the short trade . Had mentioned yesterday too that ' Now we are at the last day for September series in F&O and one can expect some swings tomorrow. We need to closely watch 8673 levels which is also our trend reversal level for this month as breaking and sustaining below it or closing below it can begin the next leg of correction towards the next immediate support of 8637 - 8602 and below it we have next supports at 8552 - 8522 levels' .Had mentioned in the post for Friday that  'Nifty could not give us a consecutive close above our weekly long levels of 8857 and hence we will need to see which side gets triggered as per daily levels on Monday and we saw shorts get triggered . Had been mentioning in the last couple of posts that ' As long as Nifty is closing below our trend continuation level of 8900 we can expect the upmoves to be sold into ' and we saw the same happening in the trading sessions of last week.  Had also mentioned yesterday ' Today Nifty has managed to give a close above 8742 but we would need to see a follow up in the upmove tomorrow to test the resistance at 8768 - 8792 levels initially . Only breaking and sustaining above 8793 can see Nifty test 8835 - 8845 levels ' and today we saw Nifty open at 8793 but it could not sustain above it . Nifty had been taking support near 8515 - 8500 levels in the entire month of August so this zone should now be watched closely for immediate support . Had mentioned since the beginning of September that 8673 is the trend reversal level and we will see a good correction below it and today we saw Nifty fall by another 100 points quickly once it broke and sustained below it . Now 8673 - 8716 would be the immediate resistance zone in the days to come . We have a small support at 8480 - 8464 below 8552 - 8522 levels on the downside for now.

Trend reversal in Nifty for this month would be consecutive closing below 8673 and trend continuation would be on consecutive closing above 8900 spot . 

For today if Nifty spot sustains above 8618 we can see a initial move upto 8646 & on sustaining above 8653 we may see further upmove till 8703. Similarly if Nifty spot sustains below 8565 we may see a initial move on the downside upto 8537 & on sustaining below 8530 we may see a further downmove till 8479


Nifty Spot Levels for the day are

Long above 8618 for 8634 - 8653 - 8703 , SL 8583

Short below 8565 for 8548 - 8530 - 8479 , SL 8599

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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.

Wednesday, 28 September 2016

Bank Nifty Spot Outlook for 29th September

BANK NIFTY


Bank Nifty spot opened at 19542 and made a low of 19509.65 ,  then went up till 19700before closing at 19653.55 .  Had mentioned long positions can be taken above 19577 and short positions can be taken below 19460 for the day.  Bank Nifty triggered our long trade and completed more than 2 targets giving nearly 100+ points before taking resistance near our resistance zone of 19702 - 19781 levels . Had mentioned in the previous posts that 'We have seen some support build near 19730 levels in the past 2 weeks and we saw that support being taken out comfortably and Bank Nifty also closed below the immediate next supports at 19702 - 19605 , below which we can expect the next support of 19495 which is also our trend reversal level to be tested' ,and yesterday we saw Bank Nifty take resistance just below 19702 and reverse to go down and break 19495, which it managed to hold and close above it .  Once it sustains below 19495 then we may see it test the next supports of 19315 - 19185 levels. Today again Bank Nifty held our trend reversal level of 19495 and moved up to test our resistance of 19702 again but could not break above it today too.  Also Bank Nifty has been taking support near 18444 - 18537 levels in the entire August month so this should provide strong support incase of a deeper correction. Had mentioned that in the previous post  'Now Bank Nifty has immediate resistance again at 20080 which is our trend continuation level and closing or sustaining above it we can expect Bank Nifty to again test 20467 - 20505 levels and once it closes above this zone we may see higher levels this month' and though Bank Nifty had given us a close above 20080 on Thursday , it had failed to give a consecutive close above it in the next session which was a hint that the upmove was not a strong one as it could not give a follow up move. Now if Bank Nifty manages to hold on to 19495 we can see it go back and test 19702 - 19781 levels initially and above that we can see a test of 19850 - 19900 levels again .

Trend reversal in Bank Nifty for this series would be consecutive closing below 19495 and trend continuation would be on consecutive closing above 20080 spot . 

For today if Bank Nifty spot sustains above 19716 we can see a initial move upto 19782 & on sustaining above 19799 we may see further upmove  till 19918. Similarly if Bank Nifty spot sustains below 19591 we may see a initial move on the downside upto 19525 &  on sustaining below 19509 we may see further downmove till 19389

Bank Nifty Spot Levels for the day are

Long above 19716 for 19754
 – 19799 – 19918 , SL 19634

Short below 19591 for 19553 – 19509 – 19389 , SL 19673

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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 29th September

NIFTY


Nifty spot opened  at 8711.20 and made a low of 8703.15 , then went up till 8767.05 before closing at 8745.15 . Had mentioned that long positions can be taken above 8726 and short positions can be taken below 8686 for the day . Nifty triggered our long trade and completed 2 targets giving around 30 points from the long trade. Nifty took resistance today again at our weekly short confirmation level of 8768 and could not break and sustain above it indicating indecisiveness in the uptrend for the day .Had mentioned in the post for Friday that  'Nifty could not give us a consecutive close above our weekly long levels of 8857 and hence we will need to see which side gets triggered as per daily levels on Monday and we saw shorts get triggered . Had been mentioning in the last couple of posts that ' As long as Nifty is closing below our trend continuation level of 8900 we can expect the upmoves to be sold into ' and we saw the same happening in the trading sessions of last week.  Also have been mentioning in the previous posts that 'Now we have immediate supports at 8716 - 8673' and we saw Nifty taking support on many times in the past 2 weeks within this range ' , including all 3 days this week as Nifty made a low of 8711.20 today too . Today Nifty has managed to give a close above 8742 but we would need to see a follow up in the upmove tomorrow to test the resistance at 8768 - 8792 levels initially . Only breaking and sustaining above 8793 can see Nifty test 8835 - 8845 levels .  Now we are at the last day for September series in F&O and one can expect some swings tomorrow . We need to closely watch 8673 levels which is also our trend reversal level for this month as breaking and sustaining below it or closing below it can begin the next leg of correction towards the next immediate support of 8637 - 8602 and below it we have next supports at 8552 - 8522 levels . We have a cluster of supports between 8700 - 8500 levels and one should watch the price action as we near each support to decide the next trade. Also Nifty had been taking support near 8515 - 8500 levels in the entire month of August so this zone should provide good support incase of a deeper correction. As long as Nifty manages to hold 8716 - 8673 levels on dips we can expect to see a retest of 8768 - 8792 levels and sustaining above that upto 8830 levels again . Nifty needs to close or sustain above 8900 to begin the upmove again and sustaining above 8956 can take us towards 9050+ levels . 

Trend reversal in Nifty for this month would be consecutive closing below 8673 and trend continuation would be on consecutive closing above 8900 spot . 

For today if Nifty spot sustains above 8768 we can see a initial move upto 8787 & on sustaining above 8793 we may see further upmove till 8832. Similarly if Nifty spot sustains below 8725 we may see a initial move on the downside upto 8703 & on sustaining below 8697 we may see a further downmove till 8658


Nifty Spot Levels for the day are

Long above 8768 for 8778 - 8793 - 8832 , SL 8739

Short below 8725 for 8712 - 8697 - 8658 , SL 8752

Expected Expiry Levels are :

Upper End - 8809

Lower End - 8682

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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.

Tuesday, 27 September 2016

Bank Nifty Spot Outlook for 28th September

BANK NIFTY


Bank Nifty spot opened at 19652.95 and made a high of 19696.45 ,  then went down till 19479.15before closing at 19518.70 .  Had mentioned long positions can be taken above 19653 and short positions can be taken below 19530 for the day.  Bank Nifty triggered our long trade at opening and completed just 1 target . It then reversed and went down to trigger our short trade and completed 1 target on the short side . Had mentioned in the previous posts that  'We have seen some support build near 19730 levels in the past 2 weeks and we saw that support being taken out comfortably and Bank Nifty also closed below the immediate next supports at 19702 - 19605 , below which we can expect the next support of 19495 which is also our trend reversal level to be tested' ,and today we saw Bank Nifty take resistance just below 19702 and reverse to go down and break 19495, which it managed to hold and close above it .  Once it sustains below 19495 then we may see it test the next supports of 19315 - 19185 levels. Also Bank Nifty has been taking support near 18444 - 18537 levels in the entire August month so this should provide strong support incase of a deeper correction. Had mentioned that in the previous post  'Now Bank Nifty has immediate resistance again at 20080 which is our trend continuation level and closing or sustaining above it we can expect Bank Nifty to again test 20467 - 20505 levels and once it closes above this zone we may see higher levels this month' and though Bank Nifty had given us a close above 20080 on Thursday , it had failed to give a consecutive close above it in the next session which was a hint that the upmove was not a strong one as it could not give a follow up move. Now if Bank Nifty manages to hold to the lows made today we can see it go back and test 19702 - 19781 levels again .

Trend reversal in Bank Nifty for this series would be consecutive closing below 19495 and trend continuation would be on consecutive closing above 20080 spot . 

For today if Bank Nifty spot sustains above 19577 we can see a initial move upto 19639 & on sustaining above 19655 we may see further upmove  till 19766. Similarly if Bank Nifty spot sustains below 19460 we may see a initial move on the downside upto 19399 &  on sustaining below 19383 we may see further downmove till 19271.

Bank Nifty Spot Levels for the day are

Long above 19577 for 19613
 – 19655 – 19766 , SL 19501

Short below 19460 for 19424 – 19383 – 19271 , SL 19537

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Nifty Spot Outlook for 28th September

NIFTY


Nifty spot opened  at 8748.90 and made a high of 8768.50 , then went down till 8690.50 before closing at 8706.40 . Had mentioned that long positions can be taken above 8743 and short positions can be taken below 8703 for the day . Nifty triggered our long trade at opening and completed 2 targets giving around 18 points from the long trade. Nifty took resistance at our weekly short confirmation level of 8768 and could not break and sustain above it indicating weakness in the uptrend for the day . Nifty reversed from here and went on to trigger our short for the day and touched 1 target on the short side giving just another 12 points from the short trade .Had mentioned in the post for Friday that  'Nifty could not give us a consecutive close above our weekly long levels of 8857 and hence we will need to see which side gets triggered as per daily levels on Monday and we saw shorts get triggered . Had been mentioning in the last couple of posts that ' As long as Nifty is closing below our trend continuation level of 8900 we can expect the upmoves to be sold into ' and we saw the same happening in the trading sessions of last week.  Also have been mentioning in the previous posts that 'Now we have immediate supports at 8716 - 8673' and we saw Nifty taking support on many times in the past 2 weeks within this range ' including both days this week as Nifty made a low of 8690.50 and closed just above 8700 today .  Now we have just 2 days left in the expiry week for September series in F&O and one can expect some volatility in the next couple of days and we need to closely watch 8673 levels which is also our trend reversal level for this month as breaking and sustaining below it or closing below it can begin the next leg of correction towards the next immediate support of 8637 - 8602 and below it we have next supports at 8552 - 8522 levels . We have a cluster of supports between 8700 - 8500 levels and one should watch the price action as we near each support to decide the next trade. Also Nifty had been taking support near 8515 - 8500 levels in the entire month of August so this zone should provide good support incase of a deeper correction. As long as Nifty manages to hold 8716 - 8673 levels on dips we can expect to see a retest of 8768 - 8792 levels and above that upto 8850 levels again . Nifty needs to close or sustain above 8900 to begin the upmove again and sustaining above 8956 can take us towards 9050+ levels . 

Trend reversal in Nifty for this month would be consecutive closing below 8673 and trend continuation would be on consecutive closing above 8900 spot . 

For today if Nifty spot sustains above 8726 we can see a initial move upto 8747 & on sustaining above 8753 we may see further upmove till 8791. Similarly if Nifty spot sustains below 8686 we may see a initial move on the downside upto 8665 & on sustaining below 8660 we may see a further downmove till 8622


Nifty Spot Levels for the day are

Long above 8726 for 8739 - 8753 - 8791 , SL 8700

Short below 8686 for 8674 - 8660 - 8622 , SL 8713

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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.

Monday, 26 September 2016

Bank Nifty Spot Outlook for 27th September

BANK NIFTY


Bank Nifty spot opened at 19792.20 and made a high of 19794.15 ,  then went down till 19568.35before closing at 19591.75 .  Had mentioned long positions can be taken above 19976 and short positions can be taken below 19828 for the day.  Bank Nifty triggered our intraday and weekly short trade at opening and completed all our intraday targets and our initial 3 targets as per weekly shorts giving us nearly 200+ points from the short trade . Had mentioned in the previous posts that  'We have seen some support build near 19730 levels in the past 2 weeks' and today we saw that support being taken out comfortably and Bank Nifty also closed below the immediate next supports at 19702 - 19605 , below which we can expect the next support of 19495 which is also our trend reversal level to be tested . Once it sustains below 19495 then we may see it test the next supports of 19315 - 19185 levels. Also Bank Nifty has been taking support near 18444 - 18537 levels in the entire August month so this should provide strong support incase of a deeper correction. Had mentioned that in the previous post  'Now Bank Nifty has immediate resistance again at 20080 which is our trend continuation level and closing or sustaining above it we can expect Bank Nifty to again test 20467 - 20505 levels and once it closes above this zone we may see higher levels this month' and though Bank Nifty had given us a close above 20080 on Thursday , it had failed to give a consecutive close above it in the next session which was a hint that the upmove was not a strong one as it could not give a follow up move..

Trend reversal in Bank Nifty for this series would be consecutive closing below 19495 and trend continuation would be on consecutive closing above 20080 spot . 

For today if Bank Nifty spot sustains above 19653 we can see a initial move upto 19718 & on sustaining above 19735 we may see further upmove  till 19852. Similarly if Bank Nifty spot sustains below 19530 we may see a initial move on the downside upto 19465 &  on sustaining below 19449 we may see further downmove till 19332 . 

Bank Nifty Spot Levels for the day are

Long above 19653 for 19691
 – 19735 – 19852 , SL 19573

Short below 19530 for 19492 – 19449 – 19332 , SL 19611

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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 27th September

NIFTY


Nifty spot opened  at 8807.90 and made a high of 8809.55 , then went down till 8715.10 before closing at 8723.05 . Had mentioned that long positions can be taken above 8856 and short positions can be taken below 8807 for the day . Nifty triggered our short trade and completed all our targets giving around 75+ points from the short trade. Had mentioned in the previous post that  'Nifty could not give us a consecutive close above our weekly long levels of 8857 and hence we will need to see which side gets triggered as per daily levels on Monday . Had been mentioning in the last couple of posts that ' As long as Nifty is closing below our trend continuation level of 8900 we can expect the upmoves to be sold into ' and we saw the same happening in the last 2 trading sessions of last week.  Also have been mentioning in the previous posts that 'Now we have immediate supports at 8716 - 8673' and we saw Nifty taking support on many times in the past 2 weeks within this range ' including today as Nifty made a low of 8715 and closed just above it but below 8742.  Now we have just 3 days left in the expiry week for September series in F&O and one can expect some volatility in the next couple of days and we need to closely watch 8673 levels which is also our trend reversal level for this month as breaking and sustaining below it or closing below it can begin the next leg of correction towards the next immediate support of 8637 - 8602 and below it we have next supports at 8552 - 8522 levels . We have a cluster of supports between 8700 - 8500 levels and one should watch the price action as we near each support to decide the next trade. Also Nifty had been taking support near 8515 - 8500 levels in the entire month of August so this zone should provide good support incase of a deeper correction. As long as Nifty manages to hold 8716 - 8673 levels on dips we can expect to see a retest of 8850 - 8900 levels again . Nifty needs to close or sustain above 8900 to begin the upmove again and sustaining above 8956 can take us towards 9050+ levels . 

Trend reversal in Nifty for this month would be consecutive closing below 8673 and trend continuation would be on consecutive closing above 8900 spot . 

For today if Nifty spot sustains above 8743 we can see a initial move upto 8764 & on sustaining above 8769 we may see further upmove till 8807. Similarly if Nifty spot sustains below 8703 we may see a initial move on the downside upto 8682 & on sustaining below 8673 we may see a further downmove till 8639


Nifty Spot Levels for the day are

Long above 8743 for 8755 - 8769 - 8807 , SL 8717

Short below 8703 for 8690 - 8673 - 8639 , SL 8729

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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.

Sunday, 25 September 2016

Bank Nifty Spot Outlook for 26th September

BANK NIFTY


Bank Nifty spot opened at 20136.75 and made a high of 20137.55 ,  then went down till 19861.45before closing at 19901.80 .  Had mentioned long positions can be taken above 20183 and short positions can be taken below 20036 for the day.  Bank Nifty opened with a mild gap up and then went down to trigger our short trade and completed more than 2 targets giving us nearly 100+ points from the short trade . Had mentioned that 'Now Bank Nifty spot has a small support near 19815 - 19759 levels below 20080' and Bank Nifty has managed to hold the support levels after testing it multiple times in the previous week . We have seen some support build near 19730 levels in the past 2 weeks.  Now we have immediate supports at 19702 - 19605 and if Bank Nifty breaks and sustains below this zone then the next support is at 19495 which is also our trend reversal level . Once it sustains below 19495 then we may see it test the next supports of 19315 - 19185 . Also Bank Nifty has been taking support near 18444 - 18537 levels in the entire August month so this should provide strong support incase of a deeper correction. Had mentioned that in the previous post  'Now Bank Nifty has immediate resistance again at 20080 which is our trend continuation level and closing or sustaining above it we can expect Bank Nifty to again test 20467 - 20505 levels and once it closes above this zone we may see higher levels this month' and had also mentioned in the previous post that 'Today Bank Nifty has also closed above our weekly long confirmation level of  20104 and also again above 20080 which is our trend continuation level . Now holding these levels in tomorrows session we can see further upmove to test the level mentioned.' , but we saw that Bank Nifty was not able to sustain  or close above 20080 levels for a consecutive day .

Trend reversal in Bank Nifty for this series would be consecutive closing below 19495 and trend continuation would be on consecutive closing above 20080 spot . 

For today if Bank Nifty spot sustains above 19976 we can see a initial move upto 20054 & on sustaining above 20074 we may see further upmove  till 20216. Similarly if Bank Nifty spot sustains below 19828 we may see a initial move on the downside upto 19749 &  on sustaining below 19730 we may see further downmove till 19588 . 

Bank Nifty Spot Levels for the day are

Long above 19976 for 20022
 – 20074 – 20216 , SL 19879

Short below 19828 for 19782 – 19730 – 19588 , SL 19925

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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 26th September

NIFTY


Nifty spot opened  at 8880.75 and made a high of 8885.20 , then went down till 8820.30 before closing at 8831.55 . Had mentioned that long positions can be taken above 8894 and short positions can be taken below 8841 for the day . Nifty opened gap with a mild gap up but failed to trigger our long trade and traded for a good part of the day between our long and short trigger before finally triggering our short trade towards the last session of the day and completed just 1 target giving us just 16 points from the short trade .  Had mentioned in the previous post that 'Nifty had broken out at the start of this month from the range of 8735 - 8742 where it is currently now  and holding these levels we can expect Nifty to attempt to move up again' , and we saw Nifty again make an attempt to go up and test 8900 again but has faced good selling once it nears 8900 levels . Nifty could not give us a consecutive close above our weekly long levels of 8857 and hence we will need to see which side gets triggered as per daily levels on Monday . Had been mentioning in the last couple of posts that ' As long as Nifty is closing below our trend continuation level of 8900 we can expect the upmoves to be sold into ' and we saw the same happening in the last 2 trading sessions.  Also have been mentioning in the previous posts that 'Now we have immediate supports at 8716 - 8673' and we saw Nifty taking support on many times in the past 2 weeks within this range .  Now we are entering the expiry week for September series in F&O and one can expect some volatility this week and we need to closely watch 8673 levels which is also our trend reversal level for this month as breaking and sustaining below it can begin the next leg of correction towards the next immediate support of 8637 - 8602 and below it we have next supports at 8552 - 8522 levels . We have a cluster of supports between 8700 - 8500 levels and one should watch the price action as we near each support to decide the next trade. Also Nifty has been taking support near 8515 - 8500 levels in the entire August month so this zone should provide good support incase of a deeper correction. As long as Nifty manages to hold 8716 - 8673 levels on dips we can expect to see a retest of 8900 levels again . Nifty needs to close or sustain above 8900 to begin the upmove again and sustaining above 8956 can take us towards 9050+ levels. 

Trend reversal in Nifty for this month would be consecutive closing below 8673 and trend continuation would be on consecutive closing above 8900 spot . 

For today if Nifty spot sustains above 8856 we can see a initial move upto 8881 & on sustaining above 8888 we may see further upmove till 8934. Similarly if Nifty spot sustains below 8807 we may see a initial move on the downside upto 8782 & on sustaining below 8775 we may see a further downmove till 8729 


Nifty Spot Levels for the day are

Long above 8856 for 8871 - 8888 - 8934 , SL 8824

Short below 8807 for 8792 - 8775 - 8729 , SL 8839

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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, 24 September 2016

Weekly Outlook of Dax & Dow for 26th to 30th September

Dax

Last week Dax spot went down 429 points from the previous weeks close of 10276.17 and finally ended the week with a gain of 351 points over last weeks close .

Had mentioned in the previous post that 'Now on closing or sustaining below 10239 we can see it test the next supports at 10100 - 9947 incase of further correction' . Dax did not test 10239 and went up to trigger again our weekly longs and completed all our targets and went up further by 100 points . Dax also closed above last target for the week of 10596 . Dax gave a move of more than 350 points from the long trigger

In the coming week Dax needs to break and sustain above 10732 to confirm uptrend and then one can expect a move till 10844 initially and breaking and sustaining above 10872 will give further confirmation for the next move which can take us till 11074. Similarly Dax needs to break and sustain below 10521 to confirm downtrend and then one can expect a move till 10410 initially and breaking and sustaining below 10382 will give further confirmation for the next move which can take us till 10180.

We can expect uptrend continuation in Dax above 10745 and downtrend below 10440 for this month.

Dax Levels for the week are

Long above 10692 , Tgt  10732 - 10765 - 10798

IF Dax manages to get a close / sustain above 10844 then ,

long again for 10872 - 10968 - 11074

Short below 10562 , Tgt 10521 - 10489 - 10456

IF Dax manages to get a close / sustain below 10410 then, 

short again for 10382 - 10286 - 10180



Dow

Last week Dow went down 31 points & then went up 326 points over last weeks close and finally ended the week with a gain of 138 points over last weeks close .


Had mentioned in the previous post that 'Now on sustaining below 18153 we can see it test the next supports at 18010 - 17938 incase of further correction' . DOW made a low 18093 and took and reversed by nearly 350 points . DOW triggered our weekly longs and competed our initial 3 targets giving a move of around 200 points from the long trigger


In the coming week Dow needs to break and sustain above 18397 to confirm uptrend and then one can expect a move till 18540 initially and breaking and sustaining above 18576 will give further confirmation of the next move which can take us till 18835 . Similarly Dow needs to break and sustain below 18126 to confirm downtrend and then one can expect a move till 17983 initially and breaking and sustaining below 17947 will give further confirmation of the next move which can take us down till 17688.


We can expect uptrend continuation in Dow above 18508 and downtrend below 18294 for this month.

Dow Levels for the week are

Long above 18345 , Tgt 18397 - 18439 - 18481

IF Dow manages to get a close / sustain above 18540 then 

long again for 18576 - 18700 - 18835

Short below 18178 , Tgt 18126 - 18084 - 18042

IF Dow manages to get a close / sustain below 17983 then 

short again for 17947 - 17823 - 17688


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 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.