HAPPY 2013 to all readers of my blog. May the New Year bring in peace, happiness, and prosperity in abundance !!!

It is holiday time and I will be back after taking a break around the year end/New Year starting tomorrow. I wish all the readers of my blog a great holiday season and merry Christmas and Happy New Year 2013 in advance  :)

Nifty December 2012 Series

OVERVIEW OF DECEMBER SERIES: Nifty December series becomes current month series from today the last trading day of the calendar month November and enters at the highest level of 2012 and likely to make a few more days of upside with improved global cues towards 5950-6180 levels.

View for November 30, 2012:

The trading range has shifted one gear up now and the underlying bullishness will sustain with some consolidation to get the highest close of the year and month of 2012 today. 5765 is the level of building support with resistance at 5840-5890 levels. Happy trading !!!

View for Monday, December 3, 2012:

Nifty should begin the last month of this year 2012 on a bullish note with an opening above 5890+ with targets of 5930-5955 (around 5950-5975 futures price). Support is at 5795 and the fresh likely support for intra day dips might turn out to be 5830. Happy trading !!!


View for December 4, 2012:

Nifty consolidation likely to attempt making the trading range of 5825-5900-5975 range. Level of 5900 spot level (around 5930 futures) is crucial for intra day. Happy trading !!!

View for Wednesday December 5, 2012:

The views for today remain same as yesterday with level of 5900 on spot needing to be crossed towards a close above 5935 spot (around 5955 futures price). Support level is around 5865 and 5825 levels. Happy trading !!!

View for Thursday, December 6, 2012:

Level of 5900 spot (around 5935 futures price) remains important level for intra day above which levels of 5935-5965 spot (around 5960-5985) likely to be tested. Below 5900 spot, support now has risen to 5875 levels spot (around 5900 futures price). Happy trading !!!

View for Friday, December 7, 2012:

The higher support level of 5835 formed yesterday gives impetus for Nifty to close the week on a new high weekly closing for the year today. Sustaining above 5915 spot (around 5945 futures price), Nifty will attempt to scale up 5945-5980 spot price (around 5970-6010 futures price). Below 5915 spot price, the tested support level yesterday is now 5835. Happy trading !!!

View for December 10, 2012:

After closing the previous week strongly above 5900 levels and year highs, some consolidation in the range of 5825-5875-5925 range can be expected before next move is made for break out above 5950 spot price towards. Support @ 5825 (5850 futures) and Resistance @ 5950 spot (5975 futures approx) likely today

intra day. Happy trading!!!

 View for December 11, 2012:

Break out above 5950 spot is the level to watch for targets of 5975-5990. Level of 5935 is level above which Nifty gains momentum. The bullish undertone of the index is intact. Happy trading !!!

View for Wednesday, December 12-12-'12 :

The spot price of 5935 did not sustain yesterday after the initial few hours of trading yesterday. Today once again this level becomes important intra day. A range bound inside day is the likely outcome of a day following a big move like yesterday. Trading the range of 5935-5900-5850 should be the game plan for intra day players. Happy trading !!!

View for Thursday, December 13, 2012:

Spot price of 5935 (5965 futures price) will be resistance and support below 5865 (5900 futures price) is @ 5825. Another range bound day can be expected today with a negative bias as long as Nifty is below 5935 spot price. Happy trading !!!

View for Friday December 14, 2012:

Spot level @ 5890 becomes resistance and trading above that is bullish and recovery. Spot level support @ 5825 is crucial and IF broken more downside can be expected towards 5775-5750. Happy trading !!!

View for Monday, December 17, 2012:

Resistance @ 5915 spot. Support @ 5825 spot price. A range bound day can be expected once again today Happy trading !!!

View for Tuesday, December 18, 2012:

Nifty has been range bound and trading within a tight range of 5835-5910 spot levels. Today, Nifty likely to break out of this range following the RBI policy announcement. Positive market sentiment will take Nifty higher above 5875 spot (around 5900 futures price). Below 5875 spot, Nifty is weak and likely to test 5825-5775 levels. Happy trading !!!

November Nifty 2012 Series - Continued

View for Monday, November 19, 2012:

After having broken the short term trend line of the last month around 5610 on closing basis, now Nifty is likely to be in consolidation phase trying to form a bottom. The level of 5520-5530 is the support below which gaps exist. With this support level of 5520-5535, Nifty can once again bounce back with short covering rally towards 5650-5700. Trading above 5555 spot price (around 5570 futures price), and closing above 5610 is the first criteria for achieving this bounce. Happy trading !!!

View for Tuesday, November 20, 2012:

The expected bottom formation seems to have happened yesterday and now with the global short covering rally the expected bounce likely to happen today. Nifty is strong above 5585 spot price (around 5605 futures price) for getting a close above 5635 spot (around 5655 futures price) today. Below 5585 spot price, the support level of 5540 has already been tested yesterday. Happy trading !!!

View for Wednesday, November 21, 2012:

Nifty has closed below the median trend line level of 5585 spot for three consecutive days and now poised to test and close below lower levels of 5510 on weekly charts if it fails to close above 5665 spot price either today or tomorrow. Longs only above 5600 spot price (around 5615 futures price). Global cues are positive and market likely to open positive today.  Happy trading !!!

View for Thursday, November 22, 2012:

Nifty likely to continue its slow and steady climb towards 5655-5680 spot (around 5670-5695 futures price). The level of 5590 will be the intra day reversal point below which Nifty might weaken further. A small gap up open above 5635 spot (around 5650 futures) is what bulls are wishing for. Happy trading !!!

View for Friday, November 23, 2012:

The break out for intra day will be above 5645 level on spot prices (5660 futures price) should Nifty open gap up and retrace towards the higher level of 5670-5690 (5685-5700 in futures price). The level of 5605 spot (5620 futures price) is the reversal level below which Nifty will be weak. Happy trading !!!

View for Monday, November 26, 2012:

Improved global cues over the weekend and Nifty poised for a gap up as expected above 5655 spot (approx 5670 futures price) towards 5680-5710. A close above 5725 spot sets Nifty up for an interesting November series expiry level. Happy trading !!!

View for Tuesday, November 27, 2012:

Nifty has consolidated well around the 5600 levels and entering the last session before the November series expires and looking at the open interest build up, the bullish undertone persists with a range bound trading range between 5635-5675-5735 levels. Nifty will be weak below 5615 spot price. Happy trading !!!

View for Thursday, November 29, 2012:

Nifty ends November series today amidst a recovering global market and the positive bias likely to continue towards 5735-5765-5795 levels. The level of 5710 on spot will work as intra day reversal point. Weakness will creep only with Nifty trading below 5695 spot price. Happy trading !!!

HAPPY DIWALI TO ALL READERS OF THIS BLOG AND MAY THE FESTIVAL OF LIGHTS BESTOW MORE HEALTH, HAPPINESS, AND PEACE IN YOUR LIFE !!!



View for Muhurat trading, November 13, 2012 :

Nifty likely to open gap up above 5715 spot (around 5745 futures)  and trade range bound and get a close of 5745 spot price (around 5775 in futures price). Happy Diwali and happy trading !!!

View for Thursday, November 15, 2012:

The weakness will persist below 5695 spot price for Nifty. Next major support level is 5635 spot price (around 5655 futures price). Range bound session likely after the holidays and break out or break down only with higher volumes. Happy trading !!!

View for Friday, November 16, 2012:

The break below 5635 support level yesterday now becomes resistance level for today. Nifty will gain intraday strength only above 5665 spot levels today. A weekly close above 5695 essential today for keeping the technical levels intact with positive bias, as Nifty is very close to breaking the short term trend line support @ 5580.  Happy trading !!!

Nifty November 2012 Series

OVERVIEW OF NOVEMBER 2012 Nifty Series :

This chart was posted in September and the contents of this chart is still valid for November 2012 series also and the projected level of 5875-5915 can be expected around muhurat trading day on November 13th. The level of 5705 (today's close on spot) will need to be held on closing basis here on. Range bound downside will be 5600-5550 and upside can be above 5875 towards 5965-6055. Let us see how it pans out starting the November series tomorrow.  Happy trading !!!

View for Friday, October 26, 2012:

The November series begins with Nifty above the 21-SMA level which has risen to 5695 now and also a crucial level in the past series. Bullishness will continue to persist only above this level over the entire November series and a range break out is due to happen now with a largely good consolidation and acceptance of Nifty at these price levels (5695). The break out for November series will be above 5735 spot price levels now to attempt for 5775-5835 spot price on closing basis. Happy trading !!!

View for Monday/Tuesday, & Wednesday October 29/30/31, 2012:

The November series ends the first day of the series below the all important 5695 on spot price. There are two important events lined up this week:

1.) The central cabinet reshuffle and induction of young fresh new faces and sentimental favourites into the ministry can cheer up market sentiments. 

2.) RBI policy announcement and better than expected rate cuts could bring further cheer to the market. 

However, both these events can be dampeners too and the market can go down back to the very comfortable trading range of 5400-5600. Looking at the open interest data, the short sellers seem to be well hedged in the event of market going up. Market will definitely see a change in trading range. The first three days of the week will be the game changer. Happy trading !!!

Another chart has been added to show the Nifty movement on the 90 minute time frame and the  indicators MACD, RSI and volatility points to a break out or break down soon in the index. Break out range developed is 5730-5800-5865. Break down zone will be below 5710 spot price towards 5630 and break of that level leads to 5550. Happy trading !!!

View for Thursday, November 1, 2012:

The negative bias remains active and Nifty trying to consolidate around 5610 spot level now. On downside below 5583 (recent swing low), watch out for support at 5510-5490. Resistance will be at around 5650 levels on spot prices now. Another day of range bound trading can be expected as the open interest statistics suggest. Happy trading !!!

View for Friday November 2, 2012:

The slightly bullish undertone to the market might fructify towards higher level as the bulls might be looking to get a weekly close above 5695 levels on spot price. The important spot price level for this move to sustain is overcoming the resistance at 5650 spot prices. Nifty will be weak below 5650 levels. Happy trading !!!

View for Monday, November 5, 2012:

Nifty managed to close above the crucial 5695 levels on weekly basis and is currently above all short term and long term EMA/SMA levels ready to go up further. A small dip to support level of 5655 is very much possible for intra day today below which Nifty will be weak. Resistance will be at 5735 spot price (5760 futures price approx). Nifty is targeting for a close above 5765 on spot price to continue its journey towards newer highs of the year. Happy trading !!!

View for Tuesday, November 6, 2012:

The trading range of 5655-5715 is set for a break out towards 5765+ on spot prices with in anticipation of some more big results coming good (SBI/BPCL, etc). Watch out for break out above 5715 spot price (5745 approx in futures price). Below 5695 spot, Nifty will once again become weak. Happy trading !!!


View for Wednesday, November 7, 2012:

Today is a day of wait and watch day for the markets with all eyes set on US election results. For Nifty the technical level of 5765+ (around 5800 futures price) on closing basis is the immediate target for intra day. Below 5700 spot (5730 futures price), Nifty will be weak and drift towards 5650 levels. Happy trading !!!

View for Thursday, November 8, 2012:

Today will be the crucial test for technical levels of Nifty with the global cues being bearish. The intra day level to watch will be 5710 level on spot price (around 5740 in futures price) below which a decent fall is likely. However, Indian market can always cause an upset and de-link from global cues and spoil the party of the bears. 5710 is the important technical level for intra day today. Happy trading !!!

View for Friday, November 9, 2012:

The global cues are looking down once again today and Nifty is looking stronger than other global indices now. The level of 5710 spot will be the reversal level for intra day today. Nifty trading above 5745 spot price (5775 futures price approx) will take it ahead towards 5800 spot price (around 5835 futures price). A weekly close above 5765 spot today ensures that Nifty has de-linked from the global cues for the time being at least and pricing itself for its intrinsic value. Happy trading !!!

View for Monday, November 12, 2012:

Nifty enters a truncated week with a neutral bias. The big event lined up for today is the IIP number to cause impact. A good IIP number sets Nifty to move with the support of 5680 spot price level towards 5765-5820 level close in the festive spirit. Below 5680, Nifty will lose further strength and eventually break 5600 after the Diwali holidays. Happy Diwali and happy trading !!!

Nifty October 2012 Series

The expiry week has just three more trading sessions with a holiday on Wednesday on October 24, 2012 and Nifty has closed this week ending October 19, 2012 on a 50:50 level. The chart explains the important levels on closing basis. Happy trading !!! Happy Navratri !!!

Nifty enters October series on the back of gap up openings in September keeping the volatility levels under control. The important levels on spot prices for the October series is marked in the chart. Happy trading !!!

A second chart has been added with expected bullish and bearish projection for Nifty for October series and beyond using weekly chart !!!

View for Monday October 1, 2012 :

Trading for month of October begins today and the level of 5695 (around 5715 in futures price) is important on spot price now. Trading above this level, Nifty will once again try to go past 5735 spot price towards 5770 spot price. Bias is flat to mildly positive today as consolidation in the zone of 5695-5750 could happen today. A close above 5755 is what the bulls will try to get today. Happy trading !!!

View for Wednesday October 3, 2012 :

The level of 5705 (5725 futures price) will be important support/reversal level of Nifty today. Above 5735 spot price (5755 futures price in futures), Nifty spot will test 5750-5780 levels. Below 5705, spot look for support at 5680-5655 spot price. Happy trading !!!

View for Thursday, October 4, 2012:

Another range bound day can be expected today. Trading above 5715 spot price, Nifty will be bullish for targets of 5775-5800 on spot. Intraday weakness emerges only below 5715 spot towards 5685-5665 support level. Happy trading :)

View for October 5, 2012:

A small gap up opening can be expected today at 5815 spot price (5835 futures price approx) . Staying above 5815 spot, Nifty can attempt to close the week above 5875 levels. Support levels are now 5765-5735 with the level of 5795 being an intra day reversal point. Happy trading !!!

View for Monday, October 8, 2012:

The level of 5795 on spot price (around 5815 in futures price) remains reversal for bulls towards targets of 5835-5875 (5855-5895 in futures price). Below 5795 spot price, support levels are 5735 and 5675. Volatility will increase gradually as result season is due to start soon. Happy trading !!!

View for Tuesday , October 9, 2012:The negative streak of Nifty below 5795 has taken Nifty below 5675 and now some short covering can be expected today above 5710 spot (5730 futures price) which will act as reversal level for intra day today towards 5750-5780 (5770-5800 futures price). Below 5675, Nifty will continues it weakness and can call fast towards 5610-5575 levels. Happy trading !!!

View for Wednesday, October 10, 2012:

The level of 5710 is the area of resistance today and Nifty could likely test lower levels below 5675 support level towards 5630-5595. Above 5730 (yesterday's high), is the reversal point towards 5765-5795. Happy trading !!!

View for Thursday, October 11, 2012:

The level of 5695 is important reversal point today intra day. The negative bias persists but Nifty is not cracking the support of 5630 which it might attempt to do today. Trading above 5695 spot price, Nifty will once again attempt to close above 5725. Happy trading !!!

View for Friday, October 12, 2012:

Today is a big day for the market with results of Infosys about to come before market open, IIP data and after market hours the results of HDFC. Now market will be volatile as it will keep pricing itself depending on the results. Gap up opening at or above 5755 will well turn out to be a run away gap up towards 5800-5845 levels. The level of 5695 will become the reversal level today if market gets poor numbers from Infy, IIP data. Happy trading !!!

View for Monday, October 15, 2012:

Nifty enters another week trading closing at support levels of 5675 in the past week. Now, with the results season having begun, the impact will be more stock specific than much on index and this week is likely to be a scalper's week. Resistance will be at 5700 spot (5720 futures price approx) and support below 5675 is likely to be found at 5615 spot (around 5635 futures price). Happy trading !!!

View for Tuesday October 16, 2012:

The level of 5695 will be important level for intra day today. A gap up opening above 5705 spot (5725 futures price) can take Nifty towards 5755 spot price. Below 5695, Nifty will get weaker for testing newer lows than the average level of 5640.
Happy trading !!!

View for Wednesday October 17, 2012:

Global markets mostly in green and Nifty likely to open gap up in zone of 5670 levels on spot prices. As long as Nifty trades below 5695 level, the moves will not trigger a rally. Only above 5695, will the rally continue towards 5755 levels. Today is likely to be a largely range bound day with a range of 5650-5700 levels. Happy trading !!!

View for Thursday, October 18, 2012:

The level of 5675 spot price once again becomes the key today. Yesterday Nifty has closed just below this level on spot. Trading above 5675, once again attempt will be made to scale up 5710-5745. Volumes will increase only with breakout above the price barriers on either side - break down below 5630 and break out above 5710. Current trend is sideways and flat. Happy trading !!!

View for Monday, October 22, 2012:

Global cues are negative and the holiday mood having already set in, Nifty will remain weak below 5695 spot levels today for intra day trading. Support of 5630-5595 on spot price is crucial for recovery from these levels. Above 5695, resistance will be at 5725-5755 levels. Happy trading.!!!

View for Tuesday, October 23, 2012:

The level of 5695 spot (around 5720 futures price) remains the reversal level for intra day traders today also. Resistance above 5725 spot (5745 futures price) is 5755 (5775 futures price). Below 5695, no long positions and support levels are 5630-5595. Volatility is at yearly low and a few more days of range bound scenario likely due to October series expiry/roll over to next series. The current range can change only with a good gap up or gap down open. Happy trading !!!

View for Thursday, October 25, 2012:

Today the October series ends and the level of 5695 spot price will be the focus once again for swings on either side. Volatility is expected 50-60 points either side of 5695 to the test the support level of 5630 and resistance level  of 5755. Happy trading !!!

Nifty September Series Update

With just one week remaining for the September series to end, Nifty is on course to the the earlier projected move towards 5875 level with the immediate short term resistances being 5770-5875-5945. A skid below in panicky situations, will find buying support around the all  important support level of 5365 as lot of gap  areas exist between 5365-5630 levels in past few daily sessions.

View for Monday 24/09/2012:

Market will remain strong above 5680 spot (around 5700 futures price) and try to scale up the 5750 spot levels. Resistance will be @ 5770. Bank stocks and reality sector stocks likely to take the index further up. Below 5680, support exists at 5630-5595. Happy trading !!!


View for Tuesday25/09/2012:

The view remains same like yesterday as it was an inside day range trading yesterday. The level of 5680 is the key on spot price for the slightly negative bias of yesterday. Support of 5630 and break out zone is 5730 with resistance expected at 5770. Happy trading :)

Volatility chart update:

Weekly volatility chart update added today and showing an U-turn ahead of September series expiry. Safe for fresh longs initiation on break out levels only (5720+).

View for Wednesday 26/09/2012:

The level of 5680 is very vital and currently roll overs to the next series must also be taking place. Support levels are 5630-5575. Resistance level is 5735-5770. Happy trading !!! 

View for Thursday 27/09/2012:

Today September series expires and the level of 5680 has developed as a level above which Nifty is hesitant to close but at the same time finding support around 40 points below this level (5640) to hold the market steady. Some volatility can be expected due to roll over pressure to October series. Longs only above 5680 spot price (around 5700 in futures) for targets of 5735-5770. Below 5680, look out for support @ 5630-5595. Happy trading !!!

View for Friday 28/09/2012:

Nifty enters October series with good gains in September and in the first few days likely to consolidate around 5630-5730 zone before deciding to take direction. However, a close above 5695 spot price will be comforting for upside in this series. Below 5695 spot price (around 5720 futures price) it is bit dicey to go long. Longs above 5695 spot can expect 5735-5770. Support of 5630 has held so far and below it 5595 is the next level of support. Happy trading !!!

Nifty gains strength above 5630 !!!

Nifty well on its way to higher level after taking support at 5535 level yesterday. A 52-week high has been done so far and some period of consolidation around 5500 to 5875 levels now. Happy trading !!!

Nifty touches 52-week high and double top formation !!!

Nifty closes at 5610 today and gives a double top close (previous highest close of the year was 5607 in February). Reversal of bullishness will be below 5580. Well poised to touch the previously mentioned level of 5875 in the result season next month !!!


Update on September 20, 2012:

Nifty has managed to hold the level of 5500 so far in spite of the negative sentiments. The level of 5565 will remain crucial tomorrow once again !!!

Weekly chart - Breakout Continues !!!

Above is the weekly chart of Nifty this weekend. The next break out should continue with some stiff resistance around 5695 levels before taking out 5875 on this new found impetus mainly driven by global cues. The chart pattern developed on the weekly is also called as Inverse Head & Shoulder pattern by technical analysts!!!

Nifty trading range expands after break out !!!

Today's gap up expands Nifty's range from 5355 to 5555 levels with a target of 5875!!!

September series Nifty view point.

Nifty series for September is currently trading in the traditional gap up and gap down zone as depicted in the chart. This zone is between 5180-5325 with swing highs of 5400 and swing lows of 5050. Currently it is expected to swing in this zone as 5215 has given support and the gap up has taken Nifty towards 5345 now. Many more days likely to be spent in filling up the gap rather than taking concrete direction.

Taken a long break and will be back soon !!!

Nifty for May 2012

Nifty seems to have found a bottom for the month of May so far. A close above 4955 will swings going to 5000 and 5100 will confirm same. 

Trade Plan - Week - April 23-27, 2012

This chart gives important Nifty levels on closing basis below 5365 which seems to be the break out point for any further upside with result season not giving the necessary impetus due to poor earnings so far. Nifty should find support around 5135 (double bottom level) or the 62=day closing low at 4990.

Trade Plan - April 18, 2012

The VWAP at 5280 and this level will be reversal level for tomorrow. A likely scenario is gap up at 5335 and then consolidation before breaking down below 5280 or gap up above 5335 towards 5410.

Trade Plan - April 17, 2012

Nifty is  stuck within the lower end of the trading band and closes below the reversal level of 5270 today. Tomorrow's RBI policy announcement is going to have huge impact on direction of the market. Bullish range 5270-5345-5400. Bearish range 5265-5135-5090.