21-05-2018 - Index views

Nifty cmp : 10,597

We have already discussed about the weakness in the market and a possible fall in coming days. By looking at the chart, it clearly indicates a puncture in the trend and Nifty now shifted its status from “ Buy On Dips ” to “ Sell On Rallies ”. Even the Foreign Investors are in the selling mode which can be seen from the daily FIIs selling data in cash market.

Unless the Nifty breaks & sustains above 10,770 for a couple of  days, the trend is unlikely to regain its strength on the upper side. It is advisable to lessen the long positions in Nifty and Nifty based stocks on every rise in Nifty.

Bank Nifty cmp : 25,878.10

As we have mentioned in our previous post, Bank Nifty had some steam to go up. It went. Still it may go further up but in case of weaker Nifty, the Bank Nifty may become lethargic & subdued. There is a clear weakness emerged in the chart of Bank Nifty. Bank Nifty still looking better than Nifty and trading in between a narrow range. In case of Bank Nifty breaks & sustains below 25,800 and closes below that, we might see a good fall. 26,100 is the level which has to be crossed and sustained above for a good strength and an up move.

Stay Safe, Trade Safe.

 

Please keep in mind, always, forever : “ StopLoss is a life saving tool.”

03-05-2018 - Index views

Hello & Good evening friends…!!!

Welcome back to the Index views again.

Nifty cmp : 10,706.50

Now, dear friends, if you have an access to any charts of Nifty, you must have understood by looking at it, why I was worried and stretching on being “ Cautious ”. Since we have already retraced slightly more than 62% of the fall we recently had, it was quite easy to understand that we might stop here for some time & either consolidate or fall. The market has chose to give away some of its gain.

So for now, we may say that unless & until we close decisively above 10,790, the uptrend won’t take place. At least for the time being, it is true. This level may change in a due course of time as & when chart & the price pattern changes.

As we have already mentioned in the last post, the support level is same as 10,640 on closing basis. A decisive breach and closing below 10,640 may indicate a steep fall of a couple of hundred points or more. So for now one may take these levels as an indicator and can go long / short as per the close of Nifty & as per the comfort. Maintain strict StopLoss.

Please keep in mind, always, forever : “ StopLoss is a life saving tool.”

Bank Nifty cmp : 25,711.80

As we have mentioned in our previous post, Bank Nifty had some steam to go up. It went. Still it may go further up but in case of weaker Nifty, the Bank Nifty may become lethargic & subdued. There is no change in the general scenario & levels & suggestions in Bank Nifty as far as traders are concerned. One may refer to the previous post to get a brief idea.

Stay Safe, Trade Safe.