Thursday, July 17, 2014

NIFTY OUTLOOK FOR FRIDAY 18-JULY-2014

Today Sensex pared most of its early morning gains and was trading flat in afternoon trade on Thursday, Tracking the momentum in the Nifty index, also came off from its intraday highs, but was still trading above its crucial psychological support level of 7600.Today nifty future started at 7642 made a high of 7674 and low of 7628 and closed at 7660, total 46 points was moved by nifty future. The nifty future after an initial phase of volatility in yesterday’s session did show a short term reversal signal in the end by moving up nearly 1%. However, being a counter-directional rally it faces a major test today in that it needs to cross the most difficult supply zone between 7620 and 7670 within which the range from 7640 through 7680 would act like an acid test zone for the bulls. We can only trust this rally to bring in more gains if these levels are crossed and the index stays above the critical zone aided by a lot of volume activity. If the Nifty future crosses 7680 successfully then the next target would be 7700 – 7800. We continue to hold our view to create longs at 7400-7450 levels in spot with a Stop loss of 7290 in spot (Closing Basis) for targets of 7900-8000 by mid-August.

Tuesday, July 15, 2014

NIFTY FUTURE TECHNICAL REPORT & CHART FOR JULY-AUGUST,2014

While analyzing the Daily Charts of “Nifty” We found that the Nifty looks oversold and based on few Technical observations, we believe it is apt for bounce back. We had said at 7620 levels, Nifty Spot could drift to 7400-7450 levels amidst budget volatility; however that volatility could be used to cherry pick stocks in the overall equity portfolio. Nifty Spot had
 made a low of 7422 on 14th July 2014. We continue to hold our view to create longs at 7400-7450 levels in spot with a Stop loss of 7290 in spot (Closing Basis) for targets of 7900-8000 by mid-August
  • The 50 Day “Simple moving average” is placed at 7400-7410 levels
  • The Lower Band of the “’Bollinger Band” is placed at 7400-7410 levels
  • The rising trend line connecting the lows of February 2014 and May 2014 is placed at 7320 levels; however the trend line support could rise to above 7400 levels by next week
  •  The RSI is at crucial 40-45 levels and 40-45 levels is usually considered to be the lower band of the RSI in the Bull Market.
  •  The RSI and Price Action is in Sync. Usually RSI and Nifty makes bottom within a week. We have seen in the past RSI and Price both bouncing back from the trend line together. The Technical Set-up is positive.
To Sum it up, the fall seen in the last week, throws open before us a golden opportunity to create fresh longs with above mentioned stop loss and Targets. While there may be a lot of Noise in the market about Nifty going to 6900-7100 levels because of Negative Feedback loop, Technical Analysis Suggests otherwise

Monday, July 14, 2014

NIFTY FUTURE OUTLOOK FOR TUESDAY 15-JULY-2014

See-saw movement was there in the market today. After a flat opening the market dropped down in the afternoon session. The sensex & nifty both hits lowest level almost in a month. The sensex is hovering around the level of 25000, while nifty is oscillating around the 7450-7475 level. Market was alternatively moving to the negative & positive zone. At the time of closing the sensex was marginally above at the level 25,006 led by losses in Infosys, HUL, HDFC, ICICI Bank and Wipro, while nifty closed at 7454. The Nifty future started at 7488 made a high of 7505 and low of 7445 and closed at 7482 total 60 points was played by nifty future. . Volatility is expected between 7376 and 7357 on the downside and 7470 and 7520 on the upside, over the next few days.

Saturday, July 12, 2014

NIFTY FUTURE OUTLOOK FOR MONDAY 14 JULY, 2014

Today starting of market was positive but it slumped down after the announcement of the Infosys results. Sensex closed at 25,024; down 348 points & Nifty ended the trade at 7,459 down 108 points. The sensex  is provisionally closed above the psychological 25,000 mark after slipping below that mark for a brief period. The Sensex and Nifty, both, hit 2-1/2-week low. . Today nifty future started at 7565 made a high of 7638 and low of 7466 and closed at 7484 total 172 points was moved by nifty future. The Nifty has broken the rising wedge pattern and has also retraced 78.6 per cent of the same. Now, once it breaks 7,479 it will confirm its next five-wave decline which has an equality target of 7,400. The negative divergence in the momentum indicator clearly indicates that bears have the upper hand.

Thursday, July 10, 2014

UPDATES : NIFTY TRADING STRATEGY FOR BUDGET 2014

We had Said in Report the possibility of Nifty going to 7450 levels in Spot and bouncing back. We had said in case Nifty sport levels goes to these levels we can create longs for 7950-8000 levels by MID August. We stand by our view. Nifty made a low of 7479 (Very close to 7450) and bounced back. The quality of bounce back is very convincing and 8000 levels by MID August is highly possible.

Wednesday, July 9, 2014

NIFTY OUTLOOK & TRADING STRATEGY FOR BUDGET,2014

From mid of the June market witnessing higher volatility due to pre-budget rally.Nifty moving around the levels of 7580-7800 levels since last few days.where 7623 is the most crucial level for the nifty. Overall Nifty is in Uptrend. Charts structurally Still Positive after yesterday's fall. However on account of overhead Budget, a fall or panic Dip up to 7450-7400 could not be ruled out.
Out of Nifty heavyweights:-
  • Reliance has already corrected 150 points or 13-15% from its recent high of 1145.
  • ICICI is also oversold.
  • ITC and Infosys are not looking bad at least; in fact Infosys is looking good.
  • HDFC Bank and HDFC are market performers and could not fall more than 5%.
  • In Such a scenario worst Nifty can fall is 3-4% from current levels of 7623.
    The trading strategies should be to create longs at 7450 in spot with a Sl of 7290 for Targets of 7900 by mid august.

Tuesday, July 8, 2014

NIFTY FUTURE OUTLOOK FOR WEDNESDAY 09-JULY-2014

"Sell RCom Below 135.50 Tgt 132/128.80 Sl 138"
"Buy IDFC Future Above 138 Tgt 141/142.90 Sl 136"
Very volatile market was today. After opening on a firm note the market was slipped into the red in the mid sessions .Both the sensex and the nifty hits more the one week low. The Sensex slipped over 600 points in trade today .The Nifty also witnessed some bit of profit booking at higher levels. The index breached its crucial psychological level of 7600 after hitting its fresh lifetime high of 7808 earlier in the day. The sudden downfall in market was witnessed due to the Shares of most of the railway-related companies slipped 3-13 % in trade on Tuesday, as the Rail Budget failed to live up to market expectations and investors preferred to book profits after a sharp rally seen in most of these stocks so far in the year 2014. Today nifty future started at 7810 made a high of 7817 and low of 7620 and closed at 7630, total 197 points was moved by nifty future. For tomorrow some recovery can be happen in the market, If tomorrow nifty will successfully crossed it’s most crucial level of 7680 then it will come back to it’s comfortable zone of 7765-7795 and if this levels are achieved by nifty then 7850 will most desirable resistance level for nifty future, at the other side if any down trade was witnessed in the market the 7600-7550 will be proved as very good supporting levels of nifty future.

Monday, July 7, 2014

NIFTY FUTURE OUTLOOK FOR TUESDAY 08-JULY-2014

Bullishness was witnessed in the market due to pre budget rally. The sensex and nifty both edged higher. The Sensex collect 138 points to settle at 26,100, a record closing high. The Nifty collects 35 points to settle at 7,787 a record closing high. The index hit a high of 7,792 in intraday trade, a lifetime high of the index. The index hit a low of 7,755 in intraday trade. The nifty future started at 7810 made a high of 7812 and low of 7760 and closed at 7797 total 52 points was moved by nifty future. Overall market is moving in uptrend. Now for tomorrow market will try to touch the level of 7850 if this level will achieved by nifty future then there will be higher possibilities of nifty future to touch the level of 7900-7930. While if market witnessed any downfall then 7740-7720 will be proved as very good supporting levels of nifty future. Expectation of the investors is very higher from this upcoming budget. Indian stock witnessing a pre-budget rally amid expectations that Finance Minister Arun Jaitley will announce measures in the Budget aimed at bolstering economic growth. If this will be true then market will touch the level 8000, and there will be a measure support of the level 7750 for the nifty. If 7750 will be touched by nifty then it will come back to the level of 7400.