09-03-2016 - Index views

Nifty :

Nifty has closed at 7452.65. Since past couple of days, we are stating that now either a consolidation or a small correction is expected for some time. The trend has become positive but due to sudden jump and a huge rally in a short period of time, may bring some consolidation or a correction. “ Buy On Dips ” strategy is a better option. 7370 & 7240 are good supports & you may initiate a long position around these levels in Nifty for the targets of 7530 & 7580 initially. Close above 7580 may push Nifty towards 7700. Since the trend will reverse only when Nifty closes below 7100, one may buy on dips ONLY. Presently Nifty is showing some weakness which may turn into a small correction. Trade with levels.

Bank Nifty :

Bank Nifty closed at 15,153.40; as we have stated, Bank Nifty is definitely out performing Nifty & with a strong moves. Today it closed 1.10% down Even Bank Nifty is in a “ Buy On Dips ” kind of state. Any dip till 14,700 should be treated as a buying opportunity. 14,300 is a trend reversal point for now. After a small correction / range bound movement / consolidation, one may see 15,700 & 16,100 also in a due course of time. Keep your quantity low on buying and you may add more on any dip till 14,700. The closer you buy from 14,700, lesser will be your Stop Loss & risk. But in case it does not dip enough & goes up fiercely, you may consider buying in call option even at this juncture. By this, you will minimize your risk & not lose the opportunity also. Trade with levels. Trade safely.

08-03-2016 - Index views

Nifty :

Nifty has closed at 7460.35. Very flat but slightly up then previous day. As we have stated earlier, now we can expect a small retracement or consolidation, it consolidated the whole day within a very small range. These kinds of movements with a bit correction may continue for another couple of days or may be more. Till the time we do not close below 7100, this up move may continue. After a range bound movement or a small correction, this up move can take this Nifty towards 7530 & 7580 kind of levels. Now this is a “ Buy On Dips ” kind of market. One may buy on any dips, with a strict closing basis Stop Loss of 7100. Any dip till 7200 should be treated as a buying opportunity.

Bank Nifty :

Bank Nifty closed at 15,328.50; as we have stated, Bank Nifty is definitely out performing Nifty & with a strong moves. Even Bank Nifty is in a “ Buy On Dips ” kind of state. Any dip till 14,700 should be treated as a buying opportunity. 14,300 is a trend reversal point for the time being. After a small correction / range bound movement / consolidation, one may 15,700 & 16,100 also in a due course of time. Keep your quantity low on buying and you may add more on any dip till 14,700. The close you buy from 14,700, less will be your Stop Loss & risk. But in case it does not dip enough & goes up fiercely, you may consider buying in call option even at this juncture. By this, you will minimize your risk & not lose the opportunity also. Trade with levels. Trade safely.

04-03-2016 - Index views

Nifty :

Nifty has closed at 7449.55. Today’s close satisfies all the conditions and requirements for reversing the trend again. Obviously, we have to see the follow up buying continuous or not & whether it sustains the higher levels for another day or two. But one thing we can surely assume that the process of trend reversal has begun. It might take its own time with a consolidation & a bit retracement / correction also, but we cannot deny the process. Tomorrow being the last day of the week, it will be very important to see the movement of Nifty. In case of a strong up move even tomorrow, will confirm the trend reversal with a suggestion to initiate a long position only on dip, with a strict closing basis Stop Loss of 7240. The new upper targets can be set at 7550 & 7650.

Bank Nifty :

Bank Nifty closed at 15,148.30; as we have stated, Bank Nifty has touched 15,200. Like Nifty, even Bank Nifty has started the process for reversing the trend. If tomorrow it sustains the higher levels and does not fall much, this uptrend will be confirmed. If tomorrow it closes with a good gain or at least with a very small loss, the uptrend will be established. It will become a “Buy On Dips” kind of market. Any dip, should be treated as a buying opportunity, of course with very strict closing basis Stop Loss of 14,300. Trade wisely, trade safely.

03-03-2016 - Index views

Nifty :

Nifty has closed at 7361.95. Nifty has posted the gain of 324 points from yesterday’s low. Almost 5 % gain in two days. And 530 points from Monday’s low of 6833. The trend is good, momentum is positive but generally after this sudden & huge rally, I always get suspicious of a trend reversal as generally trend reverses with a slow, steady and continuous pace. It’s a process & not a one day event. It does not mean. It won’t go up, but a retracement or a consolidation is a must for the health of the market. Levels won’t change a bit unless it is achieved. For upside, 7370-7400 must be achieved with a sustained trade for at least two days. On the down side, below 7240 if trades sustainably, weakness is tend to deepen. 7100 is a short term solid support. Trade with levels mentioned.

Bank Nifty :

Bank Nifty closed at 15,109.60; as we have stated, Bank Nifty is stronger & in a much better shape than Nifty. It has been proved in past three days. 15,300 & 15,600 are the probable targets for upper side. In case of Nifty tumbles down or consolidates, even Bank Nifty might follow that. 14,800 / 14,700 will be a support & a Stop Loss kind of zone. Break & trade & close below that might put it again into a negative zone.  For tomorrow’s trade, 14,900 must be kept as a Stop Loss for short term. Keep these levels handy and trade accordingly.

02-03-2016 - Index views

Nifty :

Nifty has closed at 7229.05. Nifty has posted the biggest gain % wise after almost two years. It’s a huge 3.10% UP day. There is no doubt that, it is a massive rally. We must see the movement tomorrow, as follow up buying is essential to continue this up trend, for single most important reason, the resistances we have mentioned since long, it has closed exactly on that. Let us hope that, it will cross and march towards the higher levels of 7370 / 7400. As we have already stated that a couple of days close above 7400 may change the trend, NOT before that. Again, 7100 has become a support for the time being. So we have the levels to trade long with a Stop Loss of 7100. Targets are 7370 / 7400. Below 7100, there is a stiff interim support of 6980. Trade safely, with levels.

Bank Nifty :

Bank Nifty closed at 14,452.80; yesterday we have stated that Bank Nifty is in a slightly better shape than Nifty. The chart pattern shows bit strength in the structure. At least it gives “ Will Not Fall Much ” kind of comfort feel. It did gave a massive jump of 3.30 % UP. Now if it sustains the uptrend, 14,600 & 14,800 are the probable initial targets. And as mentioned earlier also, cross and a sustained trade below 14,100 may take Bank Nifty towards further down levels. For any longs, 14,100 must be treated as a strict Stop Loss on closing basis.