Trade Plan - April 2, 2012

After expiry of March series around lows yesterday, Nifty made an U-turn and once again went above 5235 to close at 5295 levels and seems to be in some sort of recovery mode ahead of the yearly results of India Inc. in the crucial month of April. The April series will be bullish above 5250 levels once again.

Trade Plan - March 29 and March 30, 2012

The level of 5235 has been the fulcrum around which Nifty has been stuck over the past couple of days. Today it has made a double bottom by testing the previous low of 5170 on spot. A small bounce back can be expected towards 5235-5285 which could be the March series expiry figure. Also the month of March is coming to end. The rally towards 5410 could happen with short covering on the last day of the month after the expiry of March series.  

Trade Plan - March 26, 2012

Nifty in the first hour itself broke down below important level of 5235 support (50% retracement of recent swing ) and closes at lows of the March series at 5180. The concerns for market are quite many now and only good corporate results can take this market up if they are good. Market is fairly valued now and stocks should be bought into for long term (2-3 years perspective). Now reversal level for Nifty futures is spot trading above 5210 for targets of 5320. Below 5170, Nifty could easily fall to 5100-5000 levels now.

Trade Plan - March 26, 2012

Trading well within yesterday's lower half range, Nifty did manage to trigger long with MACD indicator above 5250 for 5310 on spot price. Reversal level for Monday is 5320 for targets of 5375-5420.

Trade Plan - March 23, 2012

Another day when global cues with domestic bad news of coal scam emanating and Nifty tanking heavily. Thanks to MACD the day was saved without clear cut signal for bullishness. Those who were on the right side of trade minted money from bad news.  Plan for tomorrow is not to trade below 5295 which is reversal level to long positions. Nifty might break down to see 5150 levels tomorrow.  

Trade Plan - March 22, 2012

Nifty giving good trade today with the MACD signal when technical averages/conditions are met. Systematic implementation of the trading style will reduce trades and may be a few trades in a month should do the trick for a trader and have a peaceful time.  Plan for tomorrow is to remain long above 5310 levels. Below 5310, Nifty will become bearish once again.

Now the second chart of Nifty futures the slow stoch is getting into positive territory along with MACD on the larger TF of 4 hours. This 4-hour TF needs to be watched carefully for whipsaws and is a confirmatory signal for getting the trend right on closing basis.

Trade Plan - March 21, 2012

Today's post is focusing more on the intra day trade set up and likely opportunities for intra day trading. Now plan for tomorrow is trading above day high level of 5297 for fresh intra day longs and follow the indicators MACD and Slow Stotchs. 

Trade Plan - March 19, 2012

Trade Plan - March 13, 2012

Gap up opening above 5420 levels where resistance and profit booking made Nifty to close gap and settles down at the day's mean level of 5360. Tomorrow a gap up above 5435 is bullish and gap down below 5330 will be bearish. Volatility has risen.

Trade Plan - March 12, 2012

Nifty opens gap up leading to short covering and market closes at 5333. Now Nifty is on way to 5435 and above 5435 more short covering will emerge towards the recent high retracement level of 5630. However, sustaining above 5295 is the key now for the month of March.

Trade Plan - March 9, 2012

Nifty trading and sustaining below 5250 throughout the day and getting back to previous support levels of 5170 before bouncing to closing at 5220. Some short covering rally can be expected now towards 5290-5345 area after the market reopens after the holiday of festival holi tomorrow. Happy trading :)

Trade Plan - March 07, 2012

A highly volatile session and Nifty swings violently as election results trickled in and closes in the red amidst @ 5222. VWAP @ close is 5326. Nifty should now reverse only above 5275 levels. Below 5200, next support level is 5150-5170 level where U -turn can be expected. 

Trade Plan - March 5, 2012

Nifty can go up on short covering rally above 5310 tomorrow towards 5365-5400. The trend is cautious ahead of the assembly election results, festival of holi and perhaps a cyclic pattern of bullishness started earlier this year likely to end for the short term. Support levels below 5265 is 5180-5225 zone.

Trade Plan - March 4 , 2012

4

Nifty closes at borderline level of 5360 prior to the crucial weekend ahead of the week before election results. Tomorrow Nifty should close above 5415 spot price for more bullishness. Any close below 5350 will be bearish and the approach should be of "a cautious market dynamics".

Trade Plan - March 2, 2012

Nifty enters the month of March on a negative note just below crucial support of 5365 levels. Bullishness will be heavily dependent on the election results and budget acceptance by the market.