Nifty Update - 8250 crucial level for 2017 !!!

The first month of the year 2017 has been eventful with Nifty setting a range low of 7893 towards the end of last year (December 26th) and then bouncing back smartly for 700 points gain to close the first month of the year @8602. A lot of volatility and changes can be expected in 2017 and the level to watch throughout the year would be 8250 level - 50% swing level of past one month.  Expectations from the preponed budget on February 1st and later in month of March the UP state assembly results will have a bearing on the market in the immediate short term.   Happy trading !!!

NIFTY AFTER FEBRUARY BUDGET-2017

Nifty once again has come to face resistance at 8825 levels, which was the breakout /resistance zone in 2016.  The market has received the budget well and a steady rise from the 8600+ levels has been achieved towards the current resistance level 8825.  In 2016, this level of 8825 was breached briefly and Nifty never really go much beyond it then.   Bulls would want a close above this 8825 level to take Nifty to all time highs in the month of February 2017 itself.  Happy trading !!!

NIFTY BREAKOUT HERALDS  SPRING OF 2017 :)

As expected, post budget retracement and now after the crucial assembly polls, the market has given breakout towards all time highs and all looks stable in the market for growth.  With prices trading for the first time in unchartered ranges, it remains to be seen how far the breakout after 2 years goes now.  The level of pre-breakout close level of 8935 is now the trailing stop loss for bulls trading the index.  With the index trading at all time highs and the past 6 trading sessions closing well above 9000 levels, Nifty heralds a bullish spring season for 2017.  Happy trading !!!

NIFTY ENTERS JUNE 2017 AT LIFE HIGHS !

The index has consistently traded above the previous high (9120) levels since March 14, 2014 and the expected spring time breakout continues unabated and Nifty touched life high of 9649 as it enters the month of June.   The trend seems to point out towards bullish views.  However, having started the year 2017 with 8250 as reversal point, Nifty has posted a 1000+ point gain over the past 5 months and now cautious approach and some sideways movements can be expected.  Trailing stop loss for bulls will be 9250 spot price.  The monsoon season begins and if the country has a good monsoon then Nifty could well go past 9800-10200 kind of levels sustaining above 9500 levels.  Let us see how it pans out in the next couple of months.  Happy trading !!!

NIFTY closes above 10K+ !

Nifty has closed above 10,000 mark today and this year 2017 has been memorable for the index since the reversal it made above 8250 since January 2017 and month-on-month closed at higher levels with a consistent upward trajectory. At this juncture, it would be futile exercise to project a specific target for trading.  However, the above Fibo level charts do show that since the breakout above previous high of 9119 since March 12th, the one way trajectory has been meeting the Fibonacci levels so far and currently at 138.2% extension level has been crossed conclusively, which effectively can be taken as a reversal point now.  This level is now 9990 level., an amazing journey for the index.  Happy trading !!!

NIFTY AT FRESH LIFE HIGHS FOR SAMVAT 2074 !

Nifty enters muhurat trading at life highs with a significant breakout above 8250 since January 2017 and now  has consistently traded above the previous high (9120) levels since March 14, 2014.  Nifty can be expected to touch 100-200 points above from the current high of 10250 on and/or after muhurat trading.  These levels look slightly overvalued and traders of the index need to exercise caution till confirmation of reversal is not established.  A total rise of over 30%  in around 200 sessions of this year is a great achievement for the index taking the low of 7893 on December 26, 2016 as a base level.  At this point in time, it would be difficult to set a reversal level for index; however, a close below 10100 can be taken as a short-term reversal point for the index.   I wish all the readers of my Nifty updates for 2017 a very happy and prosperous festival of Diwali !  Happy trading !

First Update of 2016 !!!

An update on the same old chart posted in March 2015 with two long term scenarios explained above and below 8135.  The scenario of Nifty below 8135 level has been unfolding and Nifty closes for the first time in 52 weeks below 7000 level and likely to face resistance @ 7365 and the second bearish target of 6555 is just 400 points away.  It will be a short on rise scenario for the next 2-3 months until and unless the volatility index (VIX) does not fall below 20 levels and brings stability to the prices.  The volatility tends to go berserk in a highly confused market with panic setting in. 

Happy trading !!!

Second Update - 2016

Volatility index contained below 20 and Nifty creeps up from the lows of 6825 in February towards 7950 so far and now likely to attempt 8050-8135 based on the results of the top players.  Happy trading !!!

BREXIT AND AFTERMATH 

Further to the earlier update, the Volatility has breached the level of 20 in the aftermath of the Brexit vote and the instant reaction of the market to drop into an indecisive phase.  Once again, it can be observed that the technical level of the 8135 in the market is once again into the picture and Nifty is weaving around this level as a pivot.  Happy trading !!! 

NIFTY DECEMBER 2015 SERIES !!!

NIFTY 50 - enters the December series after getting support @ 7725.  There is no major change in the support/resistance levels of Nifty levels since March 2015 and the bulls will hope 2015 year closing around 8400+ levels after facing resistance at levels of 8800-8400-8135 levels to finally take support at 7550-7750 levels.  The key level remains 8135 spot price.  Happy trading !!! Wish all the blog readers very HAPPY 2016 in advance  :) :) :) 

NIFTY OVERVIEW - APRIL 2015 - OCTOBER 2015 !!!

NIFTY VIEW FOR NEXT 45 DAYS: LEVEL OF 8135 IS IMPORTANT LEVEL ON DOWNSIDE BREAK OF WHICH WILL CONFIRM THE BEAR TARGET. DEAD CAT BOUNCE UP TO 8545 IF SUSTAINED THEN BULLS MIGHT ENTER THE MARKET BIG TO TAKE IT PAST THEIR TARGET OF 9120 AND 9705 ON CLOSING BASIS. ONLY TRIGGER FOR BULLS IS EXPECTATION OF GOOD AND STRONG CORPORATE RESULT SEASON BEGINNING APRIL 9TH AND ENDING IN THE NEXT 45 DAYS !!! HAPPY TRADING !!!

NIFTY CONTINUES TO TRADE AROUND THE MAJOR BREAK DOWN LEVEL OF 8135 SINCE APRIL WITH RETRACEMENT UP TO 8845 AND LIMITED DOWNSIDE.  THE VIEWS EXPRESSED IN APRIL AND TARGETS IN CHART REMAIN VALID EVEN 60+ DAYS AFTER POSTING THIS VIEW.  THE POWER OF TECHNICAL LEVELS ON LONGER TIME FRAME IS UNFOLDING NOW AFTER A YEAR OF BREAKOUT BETWEEN MARCH 6, 2014 (Nifty 8400) to  MARCH 4, 2015 (Nifty 9119 high).  HAPPY TRADING !!!

NIFTY ENTERS THE MONTH OF SEPTEMBER CRACKING UNDER GLOBAL CUE PRESSURE GIVING A NEW LOW OF 7670 AND NOW BOUNCING BACK .  LEVELS OF THE CHART POSTED IN THIS POST STARTING FROM APRIL ARE PROVING TO BE HOLDING VERY WELL AND NOW ONLY CLOSE ABOVE 8135  SPOT PRICE WILL BE CRUCIAL FOR BULLS.  IN A CRACKING MARKET SUPPORT LEVELS ARE HIGHLY VULNERABLE TO BREAKING DOWN.  LEVEL OF 7345 IS THE ONLY LIKELY SUPPORT LEVEL BELOW 8135.  A TRADING RANGE BRACKET IS GETTING FORMED AND MOST LIKELY BE 7345-8135/8350 FOR SEPTEMBER SERIES !!!

NIFTY ENTERS OCTOBER SERIES AND GIVING A NEW LOW OF 7539 IN SEPTEMBER AND FACING RESISTANCE @ 8055.  REVERSAL LEVEL FOR OCTOBER REMAINS 8135 WHICH HAS PROVED TO BE A GOOD PIVOT POINT DEVELOPED OVER THE PAST 6 MONTHS.  RESULT SEASON STARTS AFTER OCTOBER 10TH AND RBI RATE CUT EXPECTED ON SEPTEMBER 29TH CAN TAKE NIFTY PAST 8135 TOWARDS 8545.  SEPTEMBER 29TH RBI POLICY REVIEW WILL BE VIEWED VERY CAREFULLY BY THE MARKET BEFORE BREAKING THE 8135 BARRIER.  HAPPY TRADING !!!

Happy 2015 !!! Nifty January 2015 series Overview !!!

WISH ALL READERS OF MY BLOG A MERRY CHRISTMAS AND PROSPEROUS  HAPPY NEW YEAR !!!

January 2015 Series Overview:

The December series began with the highest life time close of 8588 and then corrected substantially towards the lowest close of 8029.8 and now ends the series just above the important level of 8174 after filling a few gap up and gap down openings. January 2015 is likely to be an even bigger eventful month with just one level being of interest to both bulls and bears - 8310. Above 8310, Nifty should make new highs around 8800/8900 with the result season due in the middle part of January. Before that , till around January 5th, some range bound levels between 8150-8310 can be expected. Below 8150, a quick fall/visit to 7725/7655 cannot be ruled out to test the 233-day EMA/SMA levels as the year is almost getting over and testing longer term moving average of 233-EMA/SMA will be an appropriate bottom to begin the new year with. Happy trading and Wish you and your family a VERY HAPPY 2015 !!!

December 2014 Nifty Series - Poised to make yet another new high !!!

As we enter the last month of the most bullish year in Indian market, the Nifty is poised to begin the last month December series of the year with yet another new high to continue with the break out trend that began from last December. Hope the December turns out to be the best month to remember in 2014 ! Merry Christmas !!! Happy trading !!!

Nifty November series - Opens with another breakout !!!

The November series begins with break out above 8180 levels on spot price and Nifty poised to touch 8500 levels now with this break out. The year 2014 has been a year of break outs and the important level on time cycle have been marked on the time cycle grid. Happy trading and enjoy this very strong bull run !!!