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 !!!