Trade Plan - February 1, 2012

Nifty closes @ 5199 after a perfect gap up and sustaining above the 5-EMA/SMA levels. VWAP @ close is 5181.

1) Once again Nifty looks bullish to go past 5255-5290-5315 above the level of 5225.
2) Weakness will be below level of 5170 intra day and will get accentuated below 5140 levels. Happy trading  :)

Trade Plan - January 31, 2012

Nifty giving away after the gap down open below 5170 and never really looked to recover and breached the 5-EMA/SMA level comfortably and closes below 5100 level @ 5087. VWAP @ close is 5145.

1) The week begins on a negative note and now further fall below the crucial support level of 5075, Nifty likely to test 4930 support levels after a small bounce up to 5110 tomorrow.
2) Important technical levels  given on the 52-week chart on the weekend post and there is not much change to the views otherwise. Happy trading :)

Trade Plan - January 30, 2012

Nifty closes above 5200 levels @ 5205 and closer to the 200-SMA level of 5208 after a gap-up open and then being range bound on the weekend, and the  bullish momentum of the market remains intact. VWAP @ close is 5199.

A 52-week chart with trendline analysis which helps intra day trading when major levels are understood well on the long-term time frame. Happy weekend. Happy trading :)

Nifty February series - Overview

Nifty enters February series in overbought condition and closes at the highest point of the series. VWAP @ close is 5153.

1) To begin with, the February series looks bullish as long as Nifty closes above 5110 for targets of 5210-5260-5320. The trading range has extended towards the higher level of 5180 and at lower end risen from 5055 to 5085.
2) Fresh short positions only after a close below 5110 on spot price and fresh long positions only above 5180 level of spot prices.
3) The 5-EMA/5-SMA level is 5082/5079. Happy Republic day. Happy trading :) 

Trade Plan - January 25, 2012 and January 27, 2012

Nifty goes past 5055 to close @ 5127 after RBI policy announcement was accepted by the market. VWAP @ close is 5106.

1) Nifty crossed 5110 comfortably in the morning session itself and consolidated around 5110 level to touch a high of 5141 on spot price. Now 5110 remains reversal level. A close above 5215 (200-Day SMA level) sets Nifty up for higher targets above 5350-5450.
2) Tomorrow is January series expiry day and some wild fluctuations either side of 5110 can be expected. Bias remains up as long as 5-EMA/SMA levels are not broken. Support is around those levels of 5045/5039 levels now. Below the support levels of 5035, Nifty can fall fast towards 4950-4900. Above 5110, the next upside level will be 5165-5210.
3) This week also has a holiday the day after on 26th and then the weekend on 27th Friday. The next post will be after the weekend session on Friday.  Happy Republic Day :) Happy trading :)

Trade Plan - January 24, 2012

Nifty trades range bound ahead of the RBI policy meet tomorrow and has support at 5020 now. VWAP @ close is 5049. Nifty closing spot price is 5046.

!) Views remain same as on weekend for longs above 5055 zone for target of 5085-5110 for intra day players. Reversal is below 5000 support level.
2) Below 5000 levels, Nifty could slide to 4930-4860 if RBI results not accepted well by the market. The 5-EMA/5-SMA level has risen to 5002/5007 now and the announcement of RBI policy will be a trigger in a highly news driven but cautious environment now. Nifty has closed above 5000 levels for third consecutive session and bias remains bullish.   Happy trading :)

Reliance - Chart Analysis post result and buy back price

The results of RIL announced in the evening and buy back price of up to  870/share fixed (not an encouraging price for future). The golden ratio analysis is self-explanatory on the monthly chart of 33 months.

Also an earlier post on RIL on July 30th would interest the readers. The link is here where the downside target of 700 was met gradually.   : http://niftyintradaycalls-vk.blogspot.com/2011/07/ril-leader-is-becoming-index-bleeder.html