Nifty April 2013 Series - At Cross Road Levels !!!

Nifty April Series Overview : Nifty closed the March series just above the break down level after taking support around the 233-EMA level of 5635 and closing well above it today on spot price. However, this level is a "cross road" level ahead of the long weekend due to Good Friday holiday tomorrow !!!

View for April 1, 2013: 

The Nifty close last week was at the cross road level of 5682, and now the trend direction will get resolved either towards 5750-5795 spot price with a gap up opening today or trade flat and test the support level of 5600. Low volumes arrests the down side as fresh buyers are unwilling to enter from the ever willing sellers. Happy trading !!!


View for April 2, 2013:

The Nifty is still trading in a very tight trading levels with support at 5630 and resistance at 5735 spot price. Trading above 5665 today is good for bulls towards the safer levels of 5735-5765 on closing basis. Below 5665, the Nifty can fall to support level of 5635 and break of that level leads to 5595. Happy trading !!!

View for April 3, 2013:

The Nifty has closed in the higher end of the bullish gateway above 5735 (around 5755 futures price) for targets of 5795-5825 spot price and this level can be used as support point by intra day traders today. Below the swing lows of 5680, Nifty can fall fast once again towards 5600. Happy trading !!!

View for Thursday, April 4, 2013 :

The Nifty had a sell off after failing to cross 5745 spot yesterday and touched a swing low of 5650. Once again 5665 becomes important level and Nifty trading below this level is bearish towards 5635-5595 levels. The level of 5695-5735 spot is the bullish zone for intra day trades today. Happy trading !!!

View for Friday, April 5, 2013:

The Nifty cracked yesterday to close at new lows below 5600. Now it is closer to the 233-SMA level of 5545, and a temporary range from support of 5545 towards 5640 is likely to develop. Bias is negative. It is short on rise mode now. Reversal to bullish territory will only be above 5695 spot price levels. Happy trading !!!

View for Monday, April 8, 2013:

Some bottom fishing time technically short term for Nifty with supports of 5475-5545 being strong with an oversold index and Nifty closing just around this range on Friday @ 5554. Now a bounce up to 5645 can be expected should with short covering after taking support at the support levels. Happy trading !!!


View for Tuesday, April 9, 2013:

The Nifty had an inside day trade level yesterday and is set for change of range. Bullish range will be above 5575 spot price (5595 futures price approx) for 5615-5640. Below, 5530, fresh shorting will play the role to take it down further towards previous support levels of 5475-5435. Happy trading !!!

View for Wednesday, April 10, 2013:

The expected change of range happened for Nifty. Now a couple of days might turn out to be inside days with sudden outbursts of volatility. Not a nice time for scalping, but good time for break out trading. Level of 5575 is resistance and support of 5435 is now important from intra day perspective. Happy trading !!!

View for Friday, April 12, 2013:

The Nifty likely to see fluctuations either side of 5600 spot price as results season starts today with Infy yearly numbers and later the IIP numbers. Expected range for day is 5550-5610-5670. Level of 5610 spot (around 5625 futures price) needs to be sustained for intra day bulls with close above 5670. Happy trading !!!

View for Monday, April 15, 2013:

The Nifty likely to trade and test support levels of 5475-5435 in the event of failure to overcome resistance at 5570 spot price. Bias is negative. Volatility is rising and it is short on rise as resistance/supply at higher levels is increasing with no buyers at lower levels except short covering rallies. Happy trading !!!

View for Tuesday, April 16, 2013:

The Nifty as expected unable to hold at higher levels and fresh long positions can be built only above 5595 spot price (yesterday's high for target of 5630-5675. Below 5535, Nifty has already tested 5500 level and next support levels are 5435-5395. Happy trading !!!

View for Wednesday, April 17, 2013:

The Nifty has entered the bullish zone with a close above all short term moving EMA/SMAs (5 to 21-EMA/SMA). Now the next hurdles are the 34-EMA level of 5702 and 55-EMA of 5750, which it might do today with support of the expected spurt in price of the heavy weight index stock RIL. The chart above projects levels of 5735-5775 for today. Intra day weakness below 5630 only. Happy trading !!!

View for Thursday, April 18, 2013:

The Nifty is back where to it began the April series as seen in the chart when April series began and retraced almost back to the level of 5735 with yesterday's high of 5733. Now the level of 5680 on spot price  is significant and Nifty needs to trade in the range of 5700-5780 and get a close above 5765 levels from the bullish point of view. Below 5680, it is back to the old levels of this series 5630-5545. Happy trading !!!

View for Monday April 22, 2013:

The Nifty after having closed strongly before the long weekend is expected to now move in the bullish zone of 5800-5855-5910 levels. Level of 5765 is major support below which intra day weakness can creep into test 5720-5675 levels. Happy trading !!!

View for Tuesday, April 23, 2013:

The Nifty is now in overbought and some consolidation can be expected around 5765-5815 levels now with limited swings either side of the range end towards 5900 on upside and/or 5680 below 5765. Currently Nifty is trading above all moving averages short term as well as long term and downside looks limited. This is also a truncated week with tomorrow being a holiday for Mahaveer Jayanti.  Happy trading !!!

View for Thursday, April 25, 2013 :

The Nifty is in the bullish zone and with April series expiry today intra day trading could be volatile as settlement price is likely to be at the highest level of the spot Nifty for the month of April. Bullish zone 5855-5910-5965. Below support level of 5835 spot, intra day swing can take it towards 5795-5755. Happy trading !!!

Nifty Futures- March 2013 series !!!

Nifty enters March series on a weak note after the Union budget was not well received amidst concerns regarding fiscal deficit. The issue is more about the trust deficit in the market than fiscal deficit and the technical levels have broken indicating larger moves down as long as Nifty does not close above 5825 spot price in this March series. 


View for Friday, March 1, 2013:

The Union budget turned out to be a bitter pill for the market and Nifty tanked yesterday and closed below the 144-EMA/SMA level. Now the next support levels are the 233-EMA/SMA levels of 5600/5500. The technical analysts need to take a break now and leave it for the fundamental analysts to create value. The level of 5795 will be the resistance zone for intra day players. Happy trading !!!

View for Monday, March 4, 2013:

Nifty is sell on rise mode after the fall of Thursday and closing just above 5700 on Friday and a few more sessions it might take to recover above 5825 levels in the March series. Support at 5670-5575 and resistance at 5745-5795. Happy trading !!!

View for Tuesday, March 5, 2013:

Nifty closed flat yesterday and will make one more attempt @ retracing towards the 61.8% level of 5950 of the recent fall by this weekend. Trading above 5745 spot price is required for this with a close above 5795 to begin this retracement process. Yesterday's support level of 5665 spot is vital now. Below 5665, look for 5575. Happy trading !!!


View for Wednesday, March 6, 2013:

Nifty support for intra day today at 5745 spot (5765 futures price). Resistance @ 5795-5825 levels. Below 5745 supports at 5690-5655. Happy trading !!!

View for Friday March 8, 2013:

Yesterday's close @ 5863 confirms the trend up. Now to sustain the trend, hourly basis Nifty trading above 5845 is sufficient intra day today to end this week on a high note with targets of 5900-5945 spot price. Weakness only below 5845 levels. The level of 5845-5850 happens to be the 21-EMA/SMA levels. Happy trading !!!

 View for Monday, March 11, 2013: 

The Nifty is likely to consolidate around 5910 to 5995 levels with attempt to close above 5965 spot today. Happy trading !!!


View for Tuesday, March 12, 2013:

Nifty needs to sustain above 5925 spot price to move towards 6110 levels by this weekend. Failure to form or sustain support @ 5925 can take Nifty towards 5880-5830 today. Resistance is at 5965-5995 level on the upside. Happy trading !!!


 View for Wednesday, March 13, 2013:

The Nifty support of 5880 is crucial today below which 5830-5790 are next support zones. Hourly levels remaining above 5925 gives hope for bulls to attempt a close above the resistance level of 5965 spot price (around 5990 futures). Happy trading !!!

 View for Thursday, March 14, 2013:

The Nifty trading above 5840 (approx 5860 in futures) on hourly basis can attempt pull back to 5890-5910 levels (approx 5930 futures price). Below 5840 spot price, weakness can take it below 5790. Happy trading !!!


View for Friday, March 15, 2013:

Today's weekend close is important for further course of the Nifty next week. A gap down open below 5900 spot (5920 futures) will be bearish towards yesterday's swing low of 5790. Trading above 5935 spot and closing the week above 5975 (5995 futures) will be bullish. Happy trading !!!

View for Monday, March 18, 2013:

The Nifty continues to put trader's in a confusing state by trading near break out and break down zones. A fresh chart has been added to have a fresh look at the new developing values of spot price based on Fibo time zones. The level of 5825 is now reversal with resistance at 5950 spot (around 5980 futures). Below 5950 spot, The higher end as stated in earlier charts will be 6110 and 6210 levels.  Nifty could test the lower levels of 5663 and 5545 support levels in the coming week. Happy trading !!!

View for Tuesday, March 19, 2013:

The Nifty is poised to react with volatility depending on the RBI policy news on rate cuts and the negative bias can turn to positive levels with positive sentiments above 5895 spot price towards a close above 5965-6000 levels. Negative sentiments can pull Nifty down towards 5750-5690 below the level of 5845. The levels between 5845-5875 spot price is a no-trade zone. Happy trading !!!


View for Wednesday, March 20, 2013:

The Nifty is expanding its range to towards the downside after the RBI policy news and other negative news. Now the intra day resistance level will be 5790-5825 on upside and below 5725, supports of 5690-5650 will come into picture. Happy trading !!!


View for Thursday, March 21, 2013:

The Nifty is sliding down but has yet to break the previous swing low of 5663. Below this level, expect 5575-5520. Resistance level with short covering seen @ 5735-5780. Hourly close remaining above 5735 is the key for intra day bulls to enter. Happy trading !!!

View for Friday, March 22, 2013:

The Nifty has closed below the previous swing low of 5663 on spot. Now interestingly the 233-EMA is 5635 and this level might offer some intra day support. Break of this level leads Nifty to 5545-5485 levels. Resistance on the upside is now 5690-5735-5765. Trade safely as volatility is also due to give wild swings. Happy trading !!!

View for Monday, March 25, 2013:

The Nifty is in search of an appropriate support level and closed at 5651 on Friday after making a fresh low with resistance at 5690 spot price. Trading above 5690 spot is the key today for bulls to go long intra day for targets of 5725-5755. Below 5630, intra day shorters will join the positional shorters for targets of 5575-5545. Happy trading !!!

View for March 26, 2013:

The Nifty closed exactly at the 233-EMA level of 5633 yesterday and will try to consolidate around these levels +/- 70-80 points before taking direction. Levels to watch overcoming resistance at 5690 and/or taking support @ 5555. Happy trading !!!

View for March 28, 2013:

The Nifty March series ends today. A flattish trading day will be between 5650-5700 with break out on upside producing 5750 levels. A fall below 5630 spot price can gravitate prices towards 5595-5575. Happy trading !!!

Nifty Futures - February 2013 series !!!

View for Friday. February 1 2013:

February series begins with Nifty trading in the borderline support/resistance level 6000-6095. Level of 6095 is break out zone for Nifty for this month from a bullish standpoint to reach new highs past the life high level of 6357. Below this level short term weakness likely to persist with lower supports of 5965. Happy trading !!!

View for Monday, February 4, 2013:

February series broken down from the series SAR level of 6055 and touched the low of 5983 on spot on Friday. Now, 6055 will remain as SAR level and resistance level with support of 5965. Break of these levels give break out towards 6100-6150 on upside and below 5965 support levels of 5920-5870 spot price comes into play. Happy trading !!!

View for Tuesday, February 5, 2013:

Expected trading range after yesterday's failure to move above 6055 spot is 5965-6010-6055. Overcoming resistance and closing above 6055 makes it bullish whereas below 5965 look for a fast fall towards 5920-5890. Happy trading !!!

View for Wednesday, February 6, 2013:

Nifty has had three consecutive closes below the 21-day EMA/SMA levels of around 6030 and yesterday's close is below the 34-EMA/SMA level too. The final support level short term is the 55-EMA/SMA level of 5920 level. A bounce back can be expected up to 6020-6045 level on short covering. Bullish bias now returns only with a close above 6065 spot price. Indecision leads to higher volatility and a few wild moves either side of 5990 levels is on the cards. Happy trading !!!

View for Friday, February 8, 2013:

Level of 5975 remaining intact on hourly basis gives hopes for recovery on the weekend for bulls for a weekly close above 6030 levels spot. Below 5975 spot price Nifty has already become weak and likely to see 5900-5875 levels now. Happy trading !!!

View for February 12, 2013:

Support of 5865 spot price crucial and overcoming resistance of 5930 makes the objective of Nifty clear for the day. Hourly levels remaining above 5910 spot Nifty could well attempt to close above 5955. Below 5910 spot price, support of 5865 and 5825 are the levels to be expected. Happy trading !!!

View for Wednesday, February 13, 2013:

Nifty has closed above 5910 yesterday and will likely consolidate today around 5965 spot price to give bullish signals once again. Weakness will accentuate below 5910 spot price towards 5865-5825 levels. Happy trading !!!

View for Thursday, February 14, 2013:

Nifty has closed above 5-SMA level of 5918 yesterday and now will likely target the 20-SMA level of 6005 where huge selling pressure will set in as overall sentiment is still bearish. Below 5918, levels to watch are 5865-5825. Happy trading !!! Happy Valentine's day :)

View for Friday February 15, 2013:

Yesterday Nifty broke down from the 5925 spot levels and closed below 5900 once again. The level of 5925 will remain reversal point on hourly basis. Support of 5865 and 5825 and resistance at 5925 and 5965 has already been seen this week. Happy trading !!!

View for Monday, February 18, 2013:

A fresh chart has been uploaded for the February series and after having broken down from 6055 levels to test lows of 5855, Nifty could attempt to bounce back towards 5925-6030 levels on Monday due to the oversold state of the index causing some short covering. Next major support level is 5785 spot price. Happy trading !!!

View for Tuesday, February 19, 2013:

Nifty is still unable to trade and sustain above the 5910 spot price level and the views remain same as yesterday. Bullish levels 5910-5945-5980. Below 5910, base of 5875 has already been tested and formed below which 5840-5810 levels can be expected. Volatility has increased and the moves are likely to be sharper and fast either side of 5910. Happy trading !!!

View for Thursday, February 21, 2013:

Nifty closed yesterday at the level of 5943 and remained above 5935 spot price throughout the day after a gap up open. Now some consolidation around this level of 5935-5995 is expected before taking direction. Below 5910, Nifty will continue to remain weak. Happy trading !!!

View for Friday, February 22, 2013:

Nifty corrected below 5910 yesterday after gap  down opening. Today Nifty will be groping to find an appropriate short term bottom level support. The immediate support is at 5815-5785 level spot price below yesterday's low. 5910 will be the resistance level to cross now. Happy trading !!!

View for Monday, February 25, 2013: 

Nifty enters the expiry week of February series and largely having traded below the SAR level of 6055 at the beginning of the series and remaining range bound can now likely once again attempt to retrace towards the level of 5950-5995 sustaining above 5895 spot price. First step will be a close above 5910 and there after the bulls take charge for the remaining days of the week to induce short covering in an oversold index. Happy trading !!!

View for Tuesday, February 26, 2013:

Technical levels short term are getting consolidated around 5850 spot price of Nifty and now the reversal level for today will be trading above 5890 on hourly closing basis today to confirm a change in trend. Below 5890, Nifty has already tested 5825 and next support level is 5785. In view of the two big events, Railway budget followed by the Union budget, caution needs to be exercised while trading the index as it is very near to the break down levels. Break out level will now be only with a close above 5935 with 5890 as the reversal point. Happy trading !!!

 View for Wednesday, February 27, 2013:

Yesterday was the lowest closing of the February series and now the trend is negative as long as Nifty trades below 5850 spot which is now resistance zone. Next support levels are @ 5725-5680 zone which is the 144-EMA/SMA levels now. Happy trading !!!


View for Thursday, February 28, 2013:

Nifty enters the February series expiry day today with the event of budget unfolding and is now trading just below the 5-SMA level of 5823. Today a positive budget could change the bearish trend to bullish and Nifty could swing from 5825-5875-5925 zone. Trading below 5825 spot price, the support of 5750 can break likely to give lower levels of 5680. Volatility will be high. Happy and safe trading !!!

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 !!!