28-03-2016 - Index views

Nifty :

Nifty has closed at 7736.30. It is a flat to positive close. After a huge breakout, another up move was expected but it did not come. Now a slight correction or a range bound movement is expected tomorrow. If it sustains above 7750 and trades above it, then only it will show the real strength and move upward. One must keep a trailing Stop Loss of 7600 for a long in Nifty. The upper targets are intact as 7800 & 7860 for a short period of time. In case of a sustained trade below 7600, one may see the Nifty marching towards 7500 & 7430 kind of levels. Keep these levels in mind & trade safely.

Bank Nifty :

Bank Nifty closed at 15,936.20; Bank Nifty is trading in a range & unable to sustain the higher levels. Today it has taken a breather. Now for short term basis, one may keep a Stop Loss of 15,700 for fresh / recent longs in Bank Nifty. 16,200 / 16,400 are very much visible on the horizon. So overall the trend is good. Keep holding longs until it breaks your trailing Stop Loss.

23-03-2016 - Index views

Nifty :

Nifty has closed at 7726.25. It is a flat to positive close. After a huge breakout, another up move was expected but it did not come. Now a slight correction or a range bound movement is expected tomorrow. If it sustains above 7740 and trades above it, then only it will show the real strength and move upward. One must keep a trailing Stop Loss of 7600 for a long in Nifty. The upper targets are intact as 7800 & 7860 for a short period of time. In case of a sustained trade below 7600, one may see the Nifty marching towards 7500 & 7430 kind of levels. keep these levels in mind & trade safely.

Bank Nifty :

Bank Nifty closed at 15,969; even Bank Nifty is in a breakout mode. But today it has taken a breather. Now for short term basis, one may keep a Stop Loss of 15,700 for fresh / recent longs in Bank Nifty. 16,200 / 16,400 are very much visible on the horizon. So overall the trend is good. Keep holding longs until it breaks your trailing Stop Loss.

22-03-2016 - Index views

Nifty :

Nifty has closed at 7713.35. It is a huge breakout day today. After almost two week’s time, a real breakout has happened today. Follow up buying emerges or not, whether it sustains or not, these are secondary questions. The first and most important part is a break out and as per our Breakout Trading System; one must initiate a long in this break out for very modest targets of 7800 & 7860 initially. Of course a closing basis Stop Loss of 7570 must be maintained. The further levels will be posted here time to time and the strategy will be discussed also. For the time being, longs are the only visible action to be performed. In case non- willing to digest a long Stop Loss, one may opt for Call Options.

Bank Nifty :

Bank Nifty closed at 15,941.50; as we have said, Bank Nifty is in a process of breaking out of a range. it did today. The targets were 16,100 & 16,200 initially. It made a high of 15,965.70 today. Now for Bank Nifty, 16,200 & 16,400 is also visible on the horizon. How far the momentum will last that time will tell and will be confirmed by the follow up buying, but as of now, we, definitely have a break out today. One may initiate a Long position in Bank Nifty fresh, for the targets of 16,200 & 16,400 as mentioned, of course with a closing basis Stop Loss of 15,600. In case somebody finds it difficult to trade long with such a wide Stop Loss one may opt for a Call option and stay long.

18-03-2016 - Index views

Nifty :

Nifty has closed at 7512.75. Today’s close & the candlestick pattern, now suggests a negative bias. The oscillators are also showing a little bit tiredness, may be for the time being only but a definite weakness as it is unable to sustain above our second target of 7580 in spite of three serious attempts. This indicates a small correction may start and we might re test the second support zone around 7300 levels. ( 25 / 30 ) points plus / minus. But as we believe that the trend is not reversed unless it closes & sustains below 7100 for a couple of days, one may buy on dips around 7300 and wait for a good up move. A close above 7580 / 7600 will tell us more about another up move with a level & a target.

Bank Nifty :

Bank Nifty closed at 15,434; Bank Nifty posted a small falls breakout. Yesterday we have stated that Bank Nifty may achieve much higher levels but it is unable to sustain the higher levels. Even than it has achieved our target of 15,700 / 15,800, it touched the high of 15,749. Still the banks are in a better shape comparatively as what Bank Nifty suggests. For now, one may take 15,200 as a small Stop Loss for any longs in Bank Nifty. A sustained trade above 15,800 may take it to a jump of another 200 / 300 points i.e. around 16,100. Keep these levels handy and trade safely.

17-03-2016 - Index views

Nifty :

Nifty has closed at 7527. We were writing past few days, that a small correction or a small consolidation is expected. After achieving our second & final target of 7580 for twice, it consolidated in a very small range of few days & today it came down to 7430 and bounced back almost 100 points & made a high of 7536. It all went precisely as per the post we have posted. As stated earlier again 7580 / 7680 are the probable targets. 7400 / 7370 are still good supports to trade longs. A close below 7470, will tell us to exit long for the time being. Further strategy will be discussed here in time. For the time being keep these levels in mind and trade wisely & trade on dip / bounce.

Bank Nifty :

Bank Nifty closed at 15,536; Bank Nifty has given a small break out kind of move. Today’s candle suggests a good up move is ahead of us. As stated earlier also, 15,700 / 15,800 are the next probabilities. And a good sustained trade above these levels may take Bank Nifty towards even 16,100 kinds of levels. And yes, as discussed here in previous posts / reports, 15,200 / 15,100 will be acting as a very good support zone. A sustained trade below these levels may drag Bank Nifty towards 14,700 kind of level. Till then, wait for dip, buy & keep a strict Stop Loss. You may make good money in longs; of course a Stop Loss is a must as a most important or a guardian for your capital.