With result season in the offing, the level of 5965 on closing basis needs to be taken out for Nifty to make bullish moves past the year high of 6229+.
View for October 7, 2013:The Nifty support @ 5875 is essential to be held on hourly closing basis for attempting close above 5940-5975. Below 5875 spot price expect 5815 and 5795 levels. Happy trading !!!
View for Tuesday, October 8, 2013:
Positive global cues gives Nifty the opportunity of a gap up open today above recent swing high of 5950 spot. Sustaining above 5965 spot price for intra day on hourly closing basis, Nifty can target 5995-6030. With three consecutive sessions closing around 5905 level, intra day bearishness comes only below 5895 levels. Happy trading !!!
View for Wednesday, October 09, 2013:
The level of 5885 holding as support, Nifty likely to remain range bound between resistance of 5965 and expected level of support @ 5885. Bulls will be comfortable only with Nifty trading above latest swing pivot level of 5916. Happy trading !!!
View for Thursday, October 10, 2013:
Level of 6070 spot will be next hurdle on upside with support around 5935 spot price today. The immediate short term range to consolidate for Nifty is 5935-6135. Happy trading !!!
View for Friday, October 11, 2013:
The penultimate working day to Navratri gains momentum with the expected gap up and resistance will be around 6135 today. Dips to 6085 will be short covering zone for bears to exit. Bulls have painted the street red for bears. Enjoy Happy Navratri !!! Happy trading !!!
View for the week October 21-October 25, 2013:
Fresh longs only above 6200 spot for targets of 6265-6315 on closing basis. Reversal level below 6180 intra day basis for the entire week. Below 6180, target is 6070-5935. Index heavy weight stocks that could be the stars next week RIL (touching 940) and ICICI Bank (touching 1100). Happy trading !!!
View for Nifty for the week October 28,2013-November 1, 2013:
October series ends this month end and a fresh series begins on Friday. Nifty completes 5-years from the last low of 2252 in October 2008.
Now for the current week the level of 6180 remains as the reversal point from intra day perspective and no change from the view of previous week for upward target of 6265-6312. A panic bottom could likely be 6095. Nifty is still priced within the trendline which will get broken only below 6095 level approximately. Happy trading !!!
View for October 7, 2013:The Nifty support @ 5875 is essential to be held on hourly closing basis for attempting close above 5940-5975. Below 5875 spot price expect 5815 and 5795 levels. Happy trading !!!
View for Tuesday, October 8, 2013:
Positive global cues gives Nifty the opportunity of a gap up open today above recent swing high of 5950 spot. Sustaining above 5965 spot price for intra day on hourly closing basis, Nifty can target 5995-6030. With three consecutive sessions closing around 5905 level, intra day bearishness comes only below 5895 levels. Happy trading !!!
View for Wednesday, October 09, 2013:
The level of 5885 holding as support, Nifty likely to remain range bound between resistance of 5965 and expected level of support @ 5885. Bulls will be comfortable only with Nifty trading above latest swing pivot level of 5916. Happy trading !!!
View for Thursday, October 10, 2013:
Level of 6070 spot will be next hurdle on upside with support around 5935 spot price today. The immediate short term range to consolidate for Nifty is 5935-6135. Happy trading !!!
View for Friday, October 11, 2013:
The penultimate working day to Navratri gains momentum with the expected gap up and resistance will be around 6135 today. Dips to 6085 will be short covering zone for bears to exit. Bulls have painted the street red for bears. Enjoy Happy Navratri !!! Happy trading !!!
HAPPY DUSHHERRA !!!
View for Monday, October 14, 2013:
The spot price support @ 6015 is vital today for bulls on hourly closing basis after the dismal IIP numbers announced on Friday. Overcoming the resistance at 6135 is the first intra day bullish target. Scope to go short by retailers arises only below 6015 spot price. Happy trading !!!
View for Tuesday, October 15, 2013:
The Nifty will be poised to overcome 6135 spot resistance today buoyed by the good results of the market leader RIL. Immediate intra day target is close above 6185 levels on spot price. Short covering and intra day bulls will ensure this target being achieved ahead of the Bakri-Id holiday tomorrow for the bourses. Happy trading !!!
View for Friday, October 18, 2013:
The bias for Nifty is neutral and will become bullish only above a close 6135 on the weekend. Level of 6100 remains intra day level for bulls to enter. Index heavy weight RIL is bullish and holding the index at higher levels. Below 6070 (5-SMA), weakness persists but bears would enter big way on breaking 6000 levels only. Happy trading !!!
The bias for Nifty is neutral and will become bullish only above a close 6135 on the weekend. Level of 6100 remains intra day level for bulls to enter. Index heavy weight RIL is bullish and holding the index at higher levels. Below 6070 (5-SMA), weakness persists but bears would enter big way on breaking 6000 levels only. Happy trading !!!
Fresh longs only above 6200 spot for targets of 6265-6315 on closing basis. Reversal level below 6180 intra day basis for the entire week. Below 6180, target is 6070-5935. Index heavy weight stocks that could be the stars next week RIL (touching 940) and ICICI Bank (touching 1100). Happy trading !!!
View for Nifty for the week October 28,2013-November 1, 2013:
October series ends this month end and a fresh series begins on Friday. Nifty completes 5-years from the last low of 2252 in October 2008.
Now for the current week the level of 6180 remains as the reversal point from intra day perspective and no change from the view of previous week for upward target of 6265-6312. A panic bottom could likely be 6095. Nifty is still priced within the trendline which will get broken only below 6095 level approximately. Happy trading !!!
