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 !!!

HAPPY 2013 to all readers of my blog. May the New Year bring in peace, happiness, and prosperity in abundance !!!

It is holiday time and I will be back after taking a break around the year end/New Year starting tomorrow. I wish all the readers of my blog a great holiday season and merry Christmas and Happy New Year 2013 in advance  :)

Nifty December 2012 Series

OVERVIEW OF DECEMBER SERIES: Nifty December series becomes current month series from today the last trading day of the calendar month November and enters at the highest level of 2012 and likely to make a few more days of upside with improved global cues towards 5950-6180 levels.

View for November 30, 2012:

The trading range has shifted one gear up now and the underlying bullishness will sustain with some consolidation to get the highest close of the year and month of 2012 today. 5765 is the level of building support with resistance at 5840-5890 levels. Happy trading !!!

View for Monday, December 3, 2012:

Nifty should begin the last month of this year 2012 on a bullish note with an opening above 5890+ with targets of 5930-5955 (around 5950-5975 futures price). Support is at 5795 and the fresh likely support for intra day dips might turn out to be 5830. Happy trading !!!


View for December 4, 2012:

Nifty consolidation likely to attempt making the trading range of 5825-5900-5975 range. Level of 5900 spot level (around 5930 futures) is crucial for intra day. Happy trading !!!

View for Wednesday December 5, 2012:

The views for today remain same as yesterday with level of 5900 on spot needing to be crossed towards a close above 5935 spot (around 5955 futures price). Support level is around 5865 and 5825 levels. Happy trading !!!

View for Thursday, December 6, 2012:

Level of 5900 spot (around 5935 futures price) remains important level for intra day above which levels of 5935-5965 spot (around 5960-5985) likely to be tested. Below 5900 spot, support now has risen to 5875 levels spot (around 5900 futures price). Happy trading !!!

View for Friday, December 7, 2012:

The higher support level of 5835 formed yesterday gives impetus for Nifty to close the week on a new high weekly closing for the year today. Sustaining above 5915 spot (around 5945 futures price), Nifty will attempt to scale up 5945-5980 spot price (around 5970-6010 futures price). Below 5915 spot price, the tested support level yesterday is now 5835. Happy trading !!!

View for December 10, 2012:

After closing the previous week strongly above 5900 levels and year highs, some consolidation in the range of 5825-5875-5925 range can be expected before next move is made for break out above 5950 spot price towards. Support @ 5825 (5850 futures) and Resistance @ 5950 spot (5975 futures approx) likely today

intra day. Happy trading!!!

 View for December 11, 2012:

Break out above 5950 spot is the level to watch for targets of 5975-5990. Level of 5935 is level above which Nifty gains momentum. The bullish undertone of the index is intact. Happy trading !!!

View for Wednesday, December 12-12-'12 :

The spot price of 5935 did not sustain yesterday after the initial few hours of trading yesterday. Today once again this level becomes important intra day. A range bound inside day is the likely outcome of a day following a big move like yesterday. Trading the range of 5935-5900-5850 should be the game plan for intra day players. Happy trading !!!

View for Thursday, December 13, 2012:

Spot price of 5935 (5965 futures price) will be resistance and support below 5865 (5900 futures price) is @ 5825. Another range bound day can be expected today with a negative bias as long as Nifty is below 5935 spot price. Happy trading !!!

View for Friday December 14, 2012:

Spot level @ 5890 becomes resistance and trading above that is bullish and recovery. Spot level support @ 5825 is crucial and IF broken more downside can be expected towards 5775-5750. Happy trading !!!

View for Monday, December 17, 2012:

Resistance @ 5915 spot. Support @ 5825 spot price. A range bound day can be expected once again today Happy trading !!!

View for Tuesday, December 18, 2012:

Nifty has been range bound and trading within a tight range of 5835-5910 spot levels. Today, Nifty likely to break out of this range following the RBI policy announcement. Positive market sentiment will take Nifty higher above 5875 spot (around 5900 futures price). Below 5875 spot, Nifty is weak and likely to test 5825-5775 levels. Happy trading !!!

November Nifty 2012 Series - Continued

View for Monday, November 19, 2012:

After having broken the short term trend line of the last month around 5610 on closing basis, now Nifty is likely to be in consolidation phase trying to form a bottom. The level of 5520-5530 is the support below which gaps exist. With this support level of 5520-5535, Nifty can once again bounce back with short covering rally towards 5650-5700. Trading above 5555 spot price (around 5570 futures price), and closing above 5610 is the first criteria for achieving this bounce. Happy trading !!!

View for Tuesday, November 20, 2012:

The expected bottom formation seems to have happened yesterday and now with the global short covering rally the expected bounce likely to happen today. Nifty is strong above 5585 spot price (around 5605 futures price) for getting a close above 5635 spot (around 5655 futures price) today. Below 5585 spot price, the support level of 5540 has already been tested yesterday. Happy trading !!!

View for Wednesday, November 21, 2012:

Nifty has closed below the median trend line level of 5585 spot for three consecutive days and now poised to test and close below lower levels of 5510 on weekly charts if it fails to close above 5665 spot price either today or tomorrow. Longs only above 5600 spot price (around 5615 futures price). Global cues are positive and market likely to open positive today.  Happy trading !!!

View for Thursday, November 22, 2012:

Nifty likely to continue its slow and steady climb towards 5655-5680 spot (around 5670-5695 futures price). The level of 5590 will be the intra day reversal point below which Nifty might weaken further. A small gap up open above 5635 spot (around 5650 futures) is what bulls are wishing for. Happy trading !!!

View for Friday, November 23, 2012:

The break out for intra day will be above 5645 level on spot prices (5660 futures price) should Nifty open gap up and retrace towards the higher level of 5670-5690 (5685-5700 in futures price). The level of 5605 spot (5620 futures price) is the reversal level below which Nifty will be weak. Happy trading !!!

View for Monday, November 26, 2012:

Improved global cues over the weekend and Nifty poised for a gap up as expected above 5655 spot (approx 5670 futures price) towards 5680-5710. A close above 5725 spot sets Nifty up for an interesting November series expiry level. Happy trading !!!

View for Tuesday, November 27, 2012:

Nifty has consolidated well around the 5600 levels and entering the last session before the November series expires and looking at the open interest build up, the bullish undertone persists with a range bound trading range between 5635-5675-5735 levels. Nifty will be weak below 5615 spot price. Happy trading !!!

View for Thursday, November 29, 2012:

Nifty ends November series today amidst a recovering global market and the positive bias likely to continue towards 5735-5765-5795 levels. The level of 5710 on spot will work as intra day reversal point. Weakness will creep only with Nifty trading below 5695 spot price. Happy trading !!!

HAPPY DIWALI TO ALL READERS OF THIS BLOG AND MAY THE FESTIVAL OF LIGHTS BESTOW MORE HEALTH, HAPPINESS, AND PEACE IN YOUR LIFE !!!



View for Muhurat trading, November 13, 2012 :

Nifty likely to open gap up above 5715 spot (around 5745 futures)  and trade range bound and get a close of 5745 spot price (around 5775 in futures price). Happy Diwali and happy trading !!!

View for Thursday, November 15, 2012:

The weakness will persist below 5695 spot price for Nifty. Next major support level is 5635 spot price (around 5655 futures price). Range bound session likely after the holidays and break out or break down only with higher volumes. Happy trading !!!

View for Friday, November 16, 2012:

The break below 5635 support level yesterday now becomes resistance level for today. Nifty will gain intraday strength only above 5665 spot levels today. A weekly close above 5695 essential today for keeping the technical levels intact with positive bias, as Nifty is very close to breaking the short term trend line support @ 5580.  Happy trading !!!

Nifty November 2012 Series

OVERVIEW OF NOVEMBER 2012 Nifty Series :

This chart was posted in September and the contents of this chart is still valid for November 2012 series also and the projected level of 5875-5915 can be expected around muhurat trading day on November 13th. The level of 5705 (today's close on spot) will need to be held on closing basis here on. Range bound downside will be 5600-5550 and upside can be above 5875 towards 5965-6055. Let us see how it pans out starting the November series tomorrow.  Happy trading !!!

View for Friday, October 26, 2012:

The November series begins with Nifty above the 21-SMA level which has risen to 5695 now and also a crucial level in the past series. Bullishness will continue to persist only above this level over the entire November series and a range break out is due to happen now with a largely good consolidation and acceptance of Nifty at these price levels (5695). The break out for November series will be above 5735 spot price levels now to attempt for 5775-5835 spot price on closing basis. Happy trading !!!

View for Monday/Tuesday, & Wednesday October 29/30/31, 2012:

The November series ends the first day of the series below the all important 5695 on spot price. There are two important events lined up this week:

1.) The central cabinet reshuffle and induction of young fresh new faces and sentimental favourites into the ministry can cheer up market sentiments. 

2.) RBI policy announcement and better than expected rate cuts could bring further cheer to the market. 

However, both these events can be dampeners too and the market can go down back to the very comfortable trading range of 5400-5600. Looking at the open interest data, the short sellers seem to be well hedged in the event of market going up. Market will definitely see a change in trading range. The first three days of the week will be the game changer. Happy trading !!!

Another chart has been added to show the Nifty movement on the 90 minute time frame and the  indicators MACD, RSI and volatility points to a break out or break down soon in the index. Break out range developed is 5730-5800-5865. Break down zone will be below 5710 spot price towards 5630 and break of that level leads to 5550. Happy trading !!!

View for Thursday, November 1, 2012:

The negative bias remains active and Nifty trying to consolidate around 5610 spot level now. On downside below 5583 (recent swing low), watch out for support at 5510-5490. Resistance will be at around 5650 levels on spot prices now. Another day of range bound trading can be expected as the open interest statistics suggest. Happy trading !!!

View for Friday November 2, 2012:

The slightly bullish undertone to the market might fructify towards higher level as the bulls might be looking to get a weekly close above 5695 levels on spot price. The important spot price level for this move to sustain is overcoming the resistance at 5650 spot prices. Nifty will be weak below 5650 levels. Happy trading !!!

View for Monday, November 5, 2012:

Nifty managed to close above the crucial 5695 levels on weekly basis and is currently above all short term and long term EMA/SMA levels ready to go up further. A small dip to support level of 5655 is very much possible for intra day today below which Nifty will be weak. Resistance will be at 5735 spot price (5760 futures price approx). Nifty is targeting for a close above 5765 on spot price to continue its journey towards newer highs of the year. Happy trading !!!

View for Tuesday, November 6, 2012:

The trading range of 5655-5715 is set for a break out towards 5765+ on spot prices with in anticipation of some more big results coming good (SBI/BPCL, etc). Watch out for break out above 5715 spot price (5745 approx in futures price). Below 5695 spot, Nifty will once again become weak. Happy trading !!!


View for Wednesday, November 7, 2012:

Today is a day of wait and watch day for the markets with all eyes set on US election results. For Nifty the technical level of 5765+ (around 5800 futures price) on closing basis is the immediate target for intra day. Below 5700 spot (5730 futures price), Nifty will be weak and drift towards 5650 levels. Happy trading !!!

View for Thursday, November 8, 2012:

Today will be the crucial test for technical levels of Nifty with the global cues being bearish. The intra day level to watch will be 5710 level on spot price (around 5740 in futures price) below which a decent fall is likely. However, Indian market can always cause an upset and de-link from global cues and spoil the party of the bears. 5710 is the important technical level for intra day today. Happy trading !!!

View for Friday, November 9, 2012:

The global cues are looking down once again today and Nifty is looking stronger than other global indices now. The level of 5710 spot will be the reversal level for intra day today. Nifty trading above 5745 spot price (5775 futures price approx) will take it ahead towards 5800 spot price (around 5835 futures price). A weekly close above 5765 spot today ensures that Nifty has de-linked from the global cues for the time being at least and pricing itself for its intrinsic value. Happy trading !!!

View for Monday, November 12, 2012:

Nifty enters a truncated week with a neutral bias. The big event lined up for today is the IIP number to cause impact. A good IIP number sets Nifty to move with the support of 5680 spot price level towards 5765-5820 level close in the festive spirit. Below 5680, Nifty will lose further strength and eventually break 5600 after the Diwali holidays. Happy Diwali and happy trading !!!