Trade Plan - July 1, 2011

Nifty closes the June series at the highs of the month @5647. VWAP @ close is 5628.

1) The bullish run of Nifty continued into the last day of June and Nifty closes at 5647 above all EMAs without breaking the 5600 level intra day.
2) Some consolidation can be expected around these levels of 5600-5630 now. Bullish range only above 5665 for targets of 5715-5755.
3) Below 5610, Nifty will become weak  now. The short term 5-EMA is much behind spot price and some consolidation can be expected around the levels of 5600-5630. Happy trading! 

Trade Plan - June 30, 2011

Nifty closes @ 5600 levels above all long term EMAs and highest close of June 2011. VWAP at close is 5494.

1) With close of Nifty @ 5600 and above all long term EMAs, Nifty looks set to go up further after some consolidation above 5570 levels.
2) Tomorrow is June series expiry day and volatility could be high. Levels to watch for bullish trade is being long above 5610 only for targets of 5645-5685.
3) Reversal level will be below 5570 and below 5570, Nifty could fall to 5550-5520 levels.
4) The upload of chart not taking place through blogger and the intra day chart could not be posted today :)  Happy trading!

NB: Intra day chart uploaded late today.

Trade Plan - June 29, 2011

Range bound session with resistance at 5555 levels. VWAP at close is 5530. Nifty closes at 5545.

1) Views remain same as yesterday long above 5555 for target of 5590-5630. Reversal level remains 5520.
2) Below 5496 (low of today), Nifty could slide to 5450.
3) Just two more sessions for Nifty June series expiry and volatility will make Nifty swing either way of 5520. Happy trading!

Trade Plan - June 28, 2011

Nifty continues its rise and after the gap down opening recovered with support at 5455 and zoomed past 5495 towards 5555. Nifty closes at 5527. VWAP @ close is 5525.

1) Reversal level will be below 5520 tomorrow. Long intra day above 5555 for target of 5590-5630.
2) Below 5510, Nifty will become weak  intra day and test support levels of 5455-5430.
3) Today Nifty has closed above the medium term 55 Day EMA level of 5510. Sustaining above this level will be very good for long positions in the immediate short term for a surprise June series expiry at the highs of this month (5600+ level).   Happy trading! 

Trade Plan - June 27, 2011

Nifty recovered all of its losses from the close of last week and staged a dramatic recovery from the few closes below 5300 this week to end the week up at 5470.  Nifty closes the week with more than 100 points above its last week close. VWAP is 5430. Nifty closes at 5471.

1) Nifty above 5495 is good enough to once again test 5545-5585-5625.
2) Reversal for Monday will now be only below 5445 level for target of 5400-5370.
3) Nifty has closed not just above the 5-EMA average but also closed above all other short term EMAs.   Happy weekend. Happy trading!

Trade Plan - June 24, 2011

Nifty takes support at 5250 and moves up towards the 5-EMA level and closes above it in spite of resistance around this level in the last two hours of trading. VWAP @ close is 5306.

1) Nifty above 5-EMA level of 5318 should aim to touch 5380-5440.
2) Below 5285, Nifty will become weak and should fall below 5250-5200.
3) The 5-EMA level is 5319 at EOD today and Nifty has closed just above it. Happy trading!

Trade Plan - June 23, 2011

Nifty continues to be in range bound mode and holding the support of 5250 and above in past two days. VWAP @ close is 5290. Nifty closes at 5278.

1) Nifty still trading below technical levels. Reversal level will now be above 5320 only for target of 5355-5395.
2) Below 5245, Nifty will be bearish for targets of 5200-5165-5135.
3) The link to upload  chart not working in blogger today, so intra day chart not uploaded.  Happy trading!

Trade Plan - June 22, 2011

A range bound day with Nifty trying to overcome resistance around 5315+ levels. VWAP @ close is 5293. Nifty closes at 5276.

1) Nifty is in negative mode being below all technical levels. Views remain same as yesterday reversal only above 5335 levels only for targets of 5375-5410-5455.
2) Below 5245, levels to watch are 5210-5175-5140. Happy trading! 

Trade Plan - June 21, 2011

The week begins on a highly volatile note and Nifty slides below crucial level of 5385 to below 5200 in the first hour of trade itself. VWAP @ close is 5277. Nifty closes at 5258.

1) Nifty is trading well below all the technical levels and now the Nifty waves needs to settle into a stable technical pattern.
2) Below 5250, the level of 5110 will come into play.
3) Above 5335, Nifty should attempt to touch 5435. Volatility has increased and being on the right side of volatility is good for intra day purposes. Trade safely with deeper stop losses.  Happy trading!

Trade Plan - June 20, 2011

Nifty downtrend continues unabated after the break of 5448 levels yesterday. VWAP @ close is 5384. Nifty closes the week @ 5366.

1) The support levels below 5355 is now 5325-5290. Reversal level will be 5415.
2) Above 5415, Nifty could cross 5450-5490. A close above 5480 restores hope for positional longs now.
3) The zone of 5350-5385 are very crucial levels of support for the market and break of this level could ultimately set up Nifty for a fast slide to as low as 5110 levels below 5250.
4) The second chart shows the level of 5385 as crucial support zone on the daily charts from a longer time frame perspective.  Happy weekend! Happy trading!

Trade Plan - June 17, 2011

Gap down opening and thereafter range bound trade with selling pressure after RBI credit policy announcement when Nifty attempted to climb past 5445 levels. VWAP @ close is 5422. Nifty closes @ 5397.

1) Now, below 5390, Nifty should test 5365-5345 levels and some bounce can be expected with short covering rally up to 5440 .
2) A gap up opening above 5420 and sustaining above 5430 levels could take Nifty past 5450-5475-5500.
3) The scenario is negative for the market now. Break of 5345 level could lead to severe fall below 5250 levels. Happy trading!

Trade Plan - June 16, 2011

Nifty opens gap down and trades in negative territory and breaks the crucial 5480 level to test support at 5445 and below.  Nifty closes below 5480 and is weak now at 5447 close. VWAP @ close is 5470.

1) Reversal level for tomorrow will be above 5490+ with gap up opening. Target on higher side will be 5525-5550-5575-5600.
2) Below 5445, Nifty can fall to 5400-5370.
3) The 5-EMA level at close today is 5484. The RBI policy announcement is the likely trigger for tomorrow's trading range above 5490 or below 5445.  Happy trading!

Trade Plan - June 15, 2011

A gap up opening and range bound with limited downside and a bullish undertone to the proceedings today. VWAP @ 5518 and now futures prices is running at a premium of 15 points roughly to spot prices. Nifty closes at 5500.50.

1) The 5-EMA level of 5504 was area of resistance today and Nifty has just closed below that level but did not break the crucial 5480 support on spot prices. Now for tomorrow 5522+ is level to go long. Nifty must trade above 5517 consistently and this level will be the reversal level now. Targets will be 5565-5600.
2) Bearish views remain same, below 5480, lower levels will be the immediate support at 5445 and 5400.
3) The 5-EMA level at EOD today is 5503 and the 5-SMA level also converges at this same level today at EOD. Happy trading! 

Trade Plan - June 14, 2011

Nifty starts the week flat after testing lower levels of 5435 and taking U turn to close flat. VWAP at close is 5478. Nifty closes at 5483.

1) The bullish range will be above 5530 only for targets of 5575-5600.
2) Now below 5480, Nifty will remain weak and could test 5400-5370 levels after having tested 5435 today and climbing to 5497 with short covering rally.
3) The 5-EMA level is now 5504 at close today. Happy trading!

Trade Plan - June 13, 2011

Nifty ends the week on a negative and weak note closing above the important support level of 5480. Nifty opened gap down and remained above 5510 till the IIP data was released and following that market slid fast towards 5458 levels and recovered primarily with intra day short covering rally to close just above 5480. VWAP @ close is 5485. Nifty closes at 5486.

1) For Monday, Nifty looks weak below 5530 and this is the reversal level for intra day on Monday as there will be considerable resistance to keep index below 5500 levels.
2) Now below 5480, next levels of support will be 5435-5410.
3) Bullish scenario is ruled out on Monday and can happen only with a gap up opening above 5520 and sustaining above it. Happy weekend! Happy trading!

Trade Plan - June 10, 2011

Nifty trades in a very narrow range for one more session this week and has support at 5510 but resisted at 5535. Volumes are obviously a concern now. VWAP @ close is 5518. Nifty closes at 5521 spot price.

1) The views remain unchanged with longs only above 5555 and the 5-EMA level @EOD today of 5529 will be the important level above which Nifty must trade. Targets on upside above 5555 are 5595-5620.
2) Below 5530, Nifty can fall fast towards 5450 levels. Tomorrow is the last day of trading this week, and a break out either above 5555 or break down below 5500 could be reserved for this Friday.  Happy trading!

Trade Plan - June 09, 2011

Another range bound day with weak global cues keeps Nifty in a strict trading range. Nifty however managed to get intra day support at the levels of 5515.  VWAP @ close is 5528. Nifty closes at 5527.

1) Close is below the 5-EMA level today and view for tomorrow remains same as yesterday if Nifty trades above 5555 levels for targets of 5590-5620.
2) Failure to sustain above 5530, can lead Nifty to fall below 5500 to 5480 and below that 5450.
3) The closing 5-EMA level is 5534 at EOD today and trading above this level in morning session only will give lead to upside. Happy trading!

Trade Plan - June 8, 2011

Another range bound session with Nifty managing to close higher just above the important level of 5555. VWAP @ close is 5548.

1) Levels remain same like yesterday, above 5555, targets can be 5595-5620-5640.
2) Below 5530, 5500-5470 are the support areas.
3) The second chart is the weekly chart with the current week being the 34th week from the highs of November 2010. With Nifty trading above 5555, it could also be probable of the bullish momentum continuing to touch levels of 5610-5760.
4) The 5-EMA has risen to 5537 at close today. The annualized volatility today has fallen below to 20. Heavy weight index stocks like RIL, Infosys look strong for some more upside.  Happy trading!

Trade Plan - June 7, 2011

Gap down opening and range bound trading opening session for this week. Nifty finds support at 5480 and climbs up above 5500 to test high of 5542 and close at 5532. VWAP @ close is 5508.

1) Nifty will now become bullish once again above 5555 for intra day  targets of 5595-5620. Reversal will be below 5530 levels only.
2) Below 5530, Nifty should easily fall to 5450-5400 levels.
3) A close above 5610 on weekly basis will only confirm upside momentum or else Nifty is still in side ways range. The 5-EMA level at close today is 5527. Happy trading!

Trade Plan - June 6, 2011

Nifty opens gap up and fails to cross 5605 levels today and finds support at 5510 levels and closes at 5517 in the first weekly close of June series. VWAP @ close is 5552.

1) From a weekly perspective, bullish zone for next week will be 5555-5650-5765.
2) Below 5520, Nifty can fall to 5480-5425-5325 with a bearish perspective for next week.
3) Nifty has closed below the 5-EMA level of today and the interpretation of negative bias will be confirmed with a move below 5500 on Monday. The 5-EMA level at today's close is 5525. Happy weekend! Happy trading!

Trade Plan - June 3, 2011

Nifty moves range bound today mostly below 5555 levels in rhythmic fashion as depicted in the chart and a day when intra day trade was not possible even for scalping without a clear cut direction. VWAP @ close is 5555. Nifty closes at 5550.

1) The level of 5555 remains as reversal point and being long is best option above 5555 only for targets of 5580-5610-5665.
2) Below 5520, Nifty can crack to 5500-5480.
3) The 5-EMA has risen to 5529 @ EOD today and below this level would be a good shorting opportunity for intra day targets of 5500-5480. Happy trading!

Trade Plan - June 2, 2011

Nifty works its way steadily to climb above 5560 levels to close above the important 55-Day EMA level of 5581. VWAP @ close is 5573. Nifty closes at 5592.

1) Bullish range for tomorrow will be 5580-5610-5630 with a flat opening.
2) A gap up opening above 5610 should take Nifty to 5630-5665 tomorrow.
3) The idea to sell short can be thought of only below 5555 levels and looks remote tomorrow. Happy trading!