Nifty January 2013 series !!!

View for January 2, 2013:

 The January series is developing a base around 5875 spot price level support before the result season kicks in and likely to attempt targeting 6075-6175 on closing basis. Support at 5875 needs to be held now on closing basis !!!


View for Thursday January 3, 2013:

Gap up opening expected above 6030 spot (around 6055 futures) for swing high of 6085-6100 for intra day. Reversal will be Nifty trading consistently below 5985 (6010 futures price)  for swing low target of 5945-5900 spot. Happy trading !!! 

View for Monday, January 7, 2013 :

Nifty strong only above 6010 spot (6035 futures price) with scope to give swing high above 6040-6060 spot ( 6065-6085 futures ). Level of 5995 spot price will be reversal point for the day. Bulls would like to keep Nifty close above 6050 spot while bears will work hard to bring it down to below 5975 spot. Happy trading !!!


View for Tuesday, January 8, 2013:

Range bound scenario 5965-5995-5615
Bullish scenario 6010-6045-6080.
Bearish scenario 5995-5930-5895

Spot price of 5995 will be the SAR of the day. Happy trading !!!



View for Wednesday, January 9, 2013:


The level of 6000 spot will be SAR for intra day.

Bullish scenario 6010-6045-6080 spot price.
Range bound scenario 6025-6010-5985 spot price.
Bearish scenario 6000-5955-5895

Happy trading !!!

View for Thursday, January 10, 2013:

Spot price of 6000 is reversal level for the day and Nifty opening with gap up likely to reverse the trend now and move towards 6050 spot close in a couple of sessions. Below 6000 spot, the bearishness will continue and price likely to gravitate towards 5945-5900. Happy trading !!!



View for Friday January 11, 2013:

Week end closing with two big events lined up, Infosys results and IIP numbers and market has had a conservative close yesterday and today will see some big moves as both these events will throw surprises always and market can move either way. A gap down first can be expected today.

Bullish range : 5995-6035-6075 spot price.
Bearish range: 5980-5940-5895 spot price.

Happy trading !!!

View for Monday January 14, 2013:

SAR level has come down to 5975 spot price (around 6005 futures price) and this level will be reversal for getting back to bullish mode towards 6010-6050 (around 6035-6075 spot price). Below 5975 spot price, look for 5935-5985 spot. Happy Sankranti !!! Happy trading !!!


View for Tuesday January 15, 2013:

NIfty has swung positively after taking support near the 21-day EMA.

Reversal level for intra day is 5985.

Bullish range 6010-6065 spot price.
Bearish range 5985-5945 spot price.
Range bound zone 5985-6025 spot price.
Happy trading !!!

View for Wednesday, January 16, 2013:

Nifty spot trading above 6020 required for further bullish move above 6045-6090 spot price. Below hourly closing of 6020 spot, intra day weakness and pressure to push it below 6000-5975 will set in. Happy trading !!!


View for Thursday, January 17, 2013:

Level of 6020 will be resistance area on spot (around 6045 futures). Support levels 5965 (5990 futures price) and 5930 (5955 futures price). Likely to be a day of break down as the bears have taken the upper hand yesterday. Happy trading !!!


View for Friday, January 18, 2013:

Hourly closing above 6025 spot price (6040 futures) should keep Nifty in the hunt for a positive close above 6075 spot price (6100 futures price approx). Below 6025 spot, weakness will catch up and a fast fall set up likely to emerge towards 5975 spot. Happy trading !!!

View for Monday, January 21, 2013:

The week should begin on a bullish note riding on the back of the good RIL results and hourly SAR for today remaining above 6045 spot (around 6070 futures price) could likely take Nifty past 6075-6110 spot (6100-6135 futures price). Happy trading !!!


View for Tuesday, January 22, 2013:

Hourly spot level closing remaining above 6060 will set Nifty up for further upside above 6095-6135 zone (approx 6110-6155 futures price.) Below 6060 spot, range bound session to test support of 6000 spot followed by short covering. Happy trading !!!


View for Wednesday, January 23, 2013:

Views remain largely same as yesterday with hourly levels of spot trading above 6060 (6080 futures price) is requirement for bulls to target 6100 spot (6120 futures). The bears would expect a gap down open today and target the daily close below 6000 spot (6020 futures price). Happy trading !!!


View for Thursday, January 24, 2013:

Technically the bias is negative with a new low done yesterday. Intra day hourly closing reversal above 6060 spot price (around 6085 futures price). Above 6060, expect 6100-6135. Below 6060 spot, expect 6000-5980. Happy trading !!!


View for Friday, January 25, 2013:

A range bound session can be expected with the spot level of 6060 being the hourly fulcrum above which bullishness continues towards 6100. Below 6060, the level of 6007 has already been done and below this level 5950 is a support point. Happy trading !!!

NB: The buy signal generated at beginning of January series at 5948 futures price, has held on well into the last week of the January series which essentially has turned out to be a profit booking series with broader market tanking suddenly in past couple of sessions. The views expressed at the beginning of the January series (January 3rd are strikingly same today also :)

View for Monday, January 28, 2012:

Another range bound session can be expected in the range of 6000-6060-6120 levels in spot prices. Sustaining above 6095 spot price is advantageous for bulls. Happy trading !!!


View for Tuesday, January 29, 2013:

The level of 6095 needs to be conquered for bulls to gain advantage to move towards 6120-6140 on closing basis on spot prices to close at a new high in the series. Below 6095, index is likely to break the recent low of 6007 and test 5950. Happy trading !!!

View for Wednesday, January 30, 2013:

Level of 6095 remains resistance level and reversal to bullish mode for further upside. The index is poised for a change in trading range. Trading break outs above 6095 or below 6040 is the way to trade for intra day on the penultimate day of January series expiry. Happy trading !!!


View for Thursday, January 31, 2013:

Nifty enters the last trading day of the January series on a neutral bias with both the expected bull and bear targets of 6150-6185 and down side target of 5950 eluding the bulls and bears to make it a range bound so far. Only a gap up or gap down can resolve this trading range. Bias is neutral and volatility needs to be carefully watched today. Happy trading !!!