The fresh series may open positive, but bears could take over soon As discussed yesterday, selling continued on the Nifty throughout the session and the Nifty closed at 4646 before touching our resistance levels of 4700. Today, given the global cues, and considering that this is a fresh start to a fresh series, the Nifty may trade in the positive, but then bears would strike soon and with venom.1) The Elder Ray readings :Bull Power reduces from +13 to -28 Bear Power increases from -56 to -90, showing that the Bears are regaining their strength, and that the downtrend may continue now.2) The EMAs and the DMAs are now all pointing downwards and are stacked to indicate a bear market.3) The stochastics are pointing downwards and are some distance away from the oversold zone, indicating that there is still room for another fall on the Nifty.4) In the above chart, the volumes have increased in yesterday's fall indicating sustainability to the downtrend. This downtrend is also getting confirmation on the MACD and the ADX.5) Considering the above, we have devised our trading plan for the day as under.a) Below 4730, we will open fresh short positions with a SL of 4760 and a target of 4630. We will add to these short positions only below 4610.b) Around 4625, we will open fresh long positions with a SL of 4610 and a target of 4675. We will add to these long positions only above 4785.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
The fresh series may open positive, but bears could take over soon
As discussed yesterday, selling continued on the Nifty throughout the session and the Nifty closed at 4646 before touching our resistance levels of 4700. Today, given the global cues, and considering that this is a fresh start to a fresh series, the Nifty may trade in the positive, but then bears would strike soon and with venom.
1) The Elder Ray readings :Bull Power reduces from +13 to -28 Bear Power increases from -56 to -90, showing that the Bears are regaining their strength, and that the downtrend may continue now.
2) The EMAs and the DMAs are now all pointing downwards and are stacked to indicate a bear market.
3) The stochastics are pointing downwards and are some distance away from the oversold zone, indicating that there is still room for another fall on the Nifty.
4) In the above chart, the volumes have increased in yesterday's fall indicating sustainability to the downtrend. This downtrend is also getting confirmation on the MACD and the ADX.
5) Considering the above, we have devised our trading plan for the day as under.
a) Below 4730, we will open fresh short positions with a SL of 4760 and a target of 4630. We will add to these short positions only below 4610.
b) Around 4625, we will open fresh long positions with a SL of 4610 and a target of 4675. We will add to these long positions only above 4785.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
With a fresh sell signal emerging on the charts, downtrend on the Nifty to continue. As discussed yesterday, the downtrend on the Nifty, resumed after a gap of a couple of sessions. Today, given the global cues, the Nifty is likely to open in the negative and in a few sessions from now, is likely to head for targets much below the recent lows.1) The Elder Ray readings : Bull Power reduces from +51 to +13 Bear Power increases from -26 to -58. The Elder Ray suggests that the best time to initiate short positions, is when Bull Power is in the positive and declining. It should be coupled with the 13EMA pointing downwards. We feel, this is a fresh sell signal generated by the Elder Ray today.2) All the EMAs and the DMAs are pointing downwards now.3) The stochastics are in the neutral zone, right in the center of the overbought and oversold zones.4) In the above chart, the Bollinger Bands have gone horizontal, suggesting increased consolidation. The width of the Bollinger Bands is suggesting high volatility, which is in favour of the Bears. The MACD is suggesting resumption of the downtrend, whereas the ADX has just generated a fresh sustainable sell signal.5) Being the day of a series expiry, we would be trading in the next series futures.6) Considering the above, our trading plan for the day is as under.a) Below 4700, we will open fresh short positions with a SL of 4740 and a target of 4585. We will add to these short positions only below 4555.b) We will refrain from opening any long positions for the day. However, above 4785, we will open fresh long positions with a target of 4845 and a holding period for a couple of sessions.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
With a fresh sell signal emerging on the charts, downtrend on the Nifty to continue.
As discussed yesterday, the downtrend on the Nifty, resumed after a gap of a couple of sessions. Today, given the global cues, the Nifty is likely to open in the negative and in a few sessions from now, is likely to head for targets much below the recent lows.
1) The Elder Ray readings : Bull Power reduces from +51 to +13 Bear Power increases from -26 to -58. The Elder Ray suggests that the best time to initiate short positions, is when Bull Power is in the positive and declining. It should be coupled with the 13EMA pointing downwards. We feel, this is a fresh sell signal generated by the Elder Ray today.
2) All the EMAs and the DMAs are pointing downwards now.
3) The stochastics are in the neutral zone, right in the center of the overbought and oversold zones.
4) In the above chart, the Bollinger Bands have gone horizontal, suggesting increased consolidation. The width of the Bollinger Bands is suggesting high volatility, which is in favour of the Bears. The MACD is suggesting resumption of the downtrend, whereas the ADX has just generated a fresh sustainable sell signal.
5) Being the day of a series expiry, we would be trading in the next series futures.
6) Considering the above, our trading plan for the day is as under.
a) Below 4700, we will open fresh short positions with a SL of 4740 and a target of 4585. We will add to these short positions only below 4555.
b) We will refrain from opening any long positions for the day. However, above 4785, we will open fresh long positions with a target of 4845 and a holding period for a couple of sessions.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
With Nifty stumbling at near resistance, the downtrend is likely to resume today. As discussed recently, the Nifty traded with extremely depleted volumes and has not been able to sustain above 4785 which is its near time resistance. Today, given the global cues, the Nifty is likely to open with a negative bias, which may strengthen the downturn as the session goes by.1) The Elder Ray readings : Bull Power increases from +38 to +51 Bear Power also increases from -31 to -26. This indicates that the Bulls have slowed down and that the Bears are regaining their strength and can be expected to strike back strongly now.2) The EMAs have started pointing downwards now and the DMAs are anyways coming down.3) The stochastics are in the neutral zone and are pointing downwards.4) In the above chart, the volumes are still depleted, and the nifty has gone nowhere in the last two sessions. The MACD is still in the negative and the ADX is showing slowing down of the up-move.5) Considering the above, we have devised our trading plan for the day as under.a) Below 4745, we will open fresh short positions with a SL of 4785 and a target of 4645. We will add to these short positions only below 4615.b) Around 4630, we will open fresh long positions with a SL of 4615 and a target of 4685. We will add to these long positions only above 4785.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
With Nifty stumbling at near resistance, the downtrend is likely to resume today.
As discussed recently, the Nifty traded with extremely depleted volumes and has not been able to sustain above 4785 which is its near time resistance. Today, given the global cues, the Nifty is likely to open with a negative bias, which may strengthen the downturn as the session goes by.
1) The Elder Ray readings : Bull Power increases from +38 to +51 Bear Power also increases from -31 to -26. This indicates that the Bulls have slowed down and that the Bears are regaining their strength and can be expected to strike back strongly now.
2) The EMAs have started pointing downwards now and the DMAs are anyways coming down.
3) The stochastics are in the neutral zone and are pointing downwards.
4) In the above chart, the volumes are still depleted, and the nifty has gone nowhere in the last two sessions. The MACD is still in the negative and the ADX is showing slowing down of the up-move.
5) Considering the above, we have devised our trading plan for the day as under.
a) Below 4745, we will open fresh short positions with a SL of 4785 and a target of 4645. We will add to these short positions only below 4615.
b) Around 4630, we will open fresh long positions with a SL of 4615 and a target of 4685. We will add to these long positions only above 4785.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
With the year end expiry nearing, the volatility in the markets can only rise. As discussed yesterday, the Nifty traded range-bound through most part of the session, before closing near the day's high point. Today, the nifty is likely to open down, and mostly stay down, before the expiry jitters set in.As the volumes, have depleted greatly in the trade yesterday, any technical analysis would lead to skewed findings, as they will not be supported by the trading sentiment.Hence, we would not hazard a guess at market movements for the day, and would prefer to wait on the sidelines, before the next direction of the market becomes clear.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
With the year end expiry nearing, the volatility in the markets can only rise.
As discussed yesterday, the Nifty traded range-bound through most part of the session, before closing near the day's high point. Today, the nifty is likely to open down, and mostly stay down, before the expiry jitters set in.
As the volumes, have depleted greatly in the trade yesterday, any technical analysis would lead to skewed findings, as they will not be supported by the trading sentiment.
Hence, we would not hazard a guess at market movements for the day, and would prefer to wait on the sidelines, before the next direction of the market becomes clear.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
The nifty may remain rangebound in a volatile market. As discussed on Friday, the whipsaw like movements in the Nifty continued, with the Nifty opening in the positive, and closing slightly in the negative after trading in a 70 point range. Today, given the global cues, again the nifty is likely to open with a positive bias, but is likely to meet stiff resistance soon.1) The Elder Ray readings :Bull Power rises from -9 to +19 Bear Power reduces from -116 to -51, indicating that the Bulls have now fully recovered their lost ground, but they look exhausted for now. A bit of consolidation might inject some energy for the Bulls. On the other hand, the Bears have been watching the show from the sidelines, and may strike soon.2) Only the near EMA is flat, else all the EMAs and the DMAs continue to point downwards.3) The fast stochastics have turned downwards again, and point to a revisit to the oversold zone soon.4) In the above chart, the volumes have depleted, suggesting the current rise might not sustain. The MACD is threatening to turn down again, and all the efforts by the Bulls have not been able to generate a fresh buy signal on the ADX.5) Considering the above, we have devised our trading plan for the day as under.a) Around 4765, we will open fresh short positions with a SL of 4800 and a target of 4665. We will add to these short positions only below 4625.b) Around 4645, we will open fresh long positions with a SL of 4630 and a target of 4725. We will add to these long positions only above 4810.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
The nifty may remain rangebound in a volatile market.
As discussed on Friday, the whipsaw like movements in the Nifty continued, with the Nifty opening in the positive, and closing slightly in the negative after trading in a 70 point range. Today, given the global cues, again the nifty is likely to open with a positive bias, but is likely to meet stiff resistance soon.
1) The Elder Ray readings :Bull Power rises from -9 to +19 Bear Power reduces from -116 to -51, indicating that the Bulls have now fully recovered their lost ground, but they look exhausted for now. A bit of consolidation might inject some energy for the Bulls. On the other hand, the Bears have been watching the show from the sidelines, and may strike soon.
2) Only the near EMA is flat, else all the EMAs and the DMAs continue to point downwards.
3) The fast stochastics have turned downwards again, and point to a revisit to the oversold zone soon.
4) In the above chart, the volumes have depleted, suggesting the current rise might not sustain. The MACD is threatening to turn down again, and all the efforts by the Bulls have not been able to generate a fresh buy signal on the ADX.
5) Considering the above, we have devised our trading plan for the day as under.
a) Around 4765, we will open fresh short positions with a SL of 4800 and a target of 4665. We will add to these short positions only below 4625.
b) Around 4645, we will open fresh long positions with a SL of 4630 and a target of 4725. We will add to these long positions only above 4810.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty is so precariously poised, that it is anybody's market now.As discussed yesterday, in a two way swinging market, the Nifty traded between 4633 and 4741. Today, given the global cues, the nifty is likely to open positive, but is nearing short term resistances, where the bears could strike with venom.1) The Elder Ray readings : Bull Power increases from -44 to -9 Bear Power reduces from -150 to -116, showing that all the efforts by the Bulls over the past 2 sessions have still not got them into the positive, and now the bears need to show some strength, else the nifty can run away upwards.2) The 8EMA has now turned flat, while all the rest EMAs and the DMAs continue to point downwards. The nifty is trading near its 13 EMA which is at 4749 and could be considered a pivot point for launching fresh positions.3) The stochastics are now out of the oversold zone and are pointing upwards.4) In the above chart, the volumes in yesterday's rise have depleted, indicating suspicion on the rise. The top and the bottom Bollinger Bands are turning flat, indicating volatile consolidation. The MACD is still in the negative, but is rising, which is in favor of the Bulls. The ADX is showing that though the strength of the downfall has come down, it is still stronger than the upswing, indicating that the bears might come in any time now.5) Considering the above, we have devised our trading plan for the day as undera) Below 4770, we will open fresh short positions with a SL of 4790 and a target of 4690. We will add to these short positions only below 4640.b) Above 4665, we will open fresh long positions with a SL of 4645 and a target of 4730. We will add to these long positions only above 4800.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty is so precariously poised, that it is anybody's market now.
As discussed yesterday, in a two way swinging market, the Nifty traded between 4633 and 4741. Today, given the global cues, the nifty is likely to open positive, but is nearing short term resistances, where the bears could strike with venom.
1) The Elder Ray readings : Bull Power increases from -44 to -9 Bear Power reduces from -150 to -116, showing that all the efforts by the Bulls over the past 2 sessions have still not got them into the positive, and now the bears need to show some strength, else the nifty can run away upwards.
2) The 8EMA has now turned flat, while all the rest EMAs and the DMAs continue to point downwards. The nifty is trading near its 13 EMA which is at 4749 and could be considered a pivot point for launching fresh positions.
3) The stochastics are now out of the oversold zone and are pointing upwards.
4) In the above chart, the volumes in yesterday's rise have depleted, indicating suspicion on the rise. The top and the bottom Bollinger Bands are turning flat, indicating volatile consolidation. The MACD is still in the negative, but is rising, which is in favor of the Bulls. The ADX is showing that though the strength of the downfall has come down, it is still stronger than the upswing, indicating that the bears might come in any time now.
5) Considering the above, we have devised our trading plan for the day as under
a) Below 4770, we will open fresh short positions with a SL of 4790 and a target of 4690. We will add to these short positions only below 4640.
b) Above 4665, we will open fresh long positions with a SL of 4645 and a target of 4730. We will add to these long positions only above 4800.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
With the Nifty in neutral zone, the whipsaw might start again. As discussed yesterday, the relief rally on the Nifty did emerge late into the trading session. The Nifty closed at 4693 before just touching our target of 4710. Today, the Nifty is likely to open flat and is likely to swing both ways in a range bound market.1) The Elder Ray readings :Bull Power increases from -124 to -44 Bear Power reduces from -230 to -150. This shows that the Bulls have tried hard, but have not managed to get into their positive zone. The Bears have given up some of their ground, but are still safe in their negative zone.2) The EMAs continue to point downwards, reminding of the intermediate downtrend on the Nifty. The DMAs are also sliding down.3) The fast stochastics have moved out of the oversold zone, and are pointing upwards, hinting that the uptrend might continue for a while.4) In the above chart, the nifty has left the lower Bollinger Band, which is expanding downwards. With the upper Bollinger Band flattening, the indication is that the Nifty may slip back to its lows in a few sessions. The MACD is in the negative but is rising, indicating that the uptrend might continue. The ADX is suggesting a strengthening of the up-move but the strength of the down-move is still more than the strength of the up-move, and there is no buy signal yet from the ADX.5) Considering the above our trading plan for the day is as undera) Below 4725, we will open fresh short positions with a SL of 4755 and a target of 4660. We will add to these short positions only below 4635.b) Above 4665, we will open fresh long positions with a SL of 4640 and a target of 4710. We will add to these long positions only above 4760.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
With the Nifty in neutral zone, the whipsaw might start again.
As discussed yesterday, the relief rally on the Nifty did emerge late into the trading session. The Nifty closed at 4693 before just touching our target of 4710. Today, the Nifty is likely to open flat and is likely to swing both ways in a range bound market.
1) The Elder Ray readings :Bull Power increases from -124 to -44 Bear Power reduces from -230 to -150. This shows that the Bulls have tried hard, but have not managed to get into their positive zone. The Bears have given up some of their ground, but are still safe in their negative zone.
2) The EMAs continue to point downwards, reminding of the intermediate downtrend on the Nifty. The DMAs are also sliding down.
3) The fast stochastics have moved out of the oversold zone, and are pointing upwards, hinting that the uptrend might continue for a while.
4) In the above chart, the nifty has left the lower Bollinger Band, which is expanding downwards. With the upper Bollinger Band flattening, the indication is that the Nifty may slip back to its lows in a few sessions. The MACD is in the negative but is rising, indicating that the uptrend might continue. The ADX is suggesting a strengthening of the up-move but the strength of the down-move is still more than the strength of the up-move, and there is no buy signal yet from the ADX.
5) Considering the above our trading plan for the day is as under
a) Below 4725, we will open fresh short positions with a SL of 4755 and a target of 4660. We will add to these short positions only below 4635.
b) Above 4665, we will open fresh long positions with a SL of 4640 and a target of 4710. We will add to these long positions only above 4760.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
With the Nifty nearing key support levels, a relief rally is on the cards now. As discussed yesterday, the Nifty consolidation was on throughout the session, with the Nifty unable to cross our resistance levels of 4630 and reached our targets of 4540. Today, given the global cues, the Nifty is likely to open with a positive gap up, and continue to rally throughout the session with some bouts of selling coming in.1) The Elder Ray readings : Bull Power rises from -175 to -124 Bear Power reduces from -242 to -230. This indicates that the Bulls are still long way from safety, and that the Bears may strike back any time.2) The EMAs and the DMAs continue to point downwards, and any rallies will be sold off quickly is what they indicate.3) The stochastics are well within the oversold zone and point to a short covering rally.4) In the above chart, the upper Bollinger Band is expanding upwards and the Nifty is touching the bottom Bollinger Band, indicating that a bounce back is to be expected. However, the MACD and the ADX are still suggesting that the bearish trend will continue.5) Considering the above, we have devised our trading plan for the day as undera) Above 4640, we will open fresh long positions with a SL of 4610 and a target of 4710. We will add to these long positions only above 4740.b) Around 4725, we will open fresh short positions with a SL of 4755 and a target of 4650. We will add to these short positions only below 4605.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
With the Nifty nearing key support levels, a relief rally is on the cards now.
As discussed yesterday, the Nifty consolidation was on throughout the session, with the Nifty unable to cross our resistance levels of 4630 and reached our targets of 4540. Today, given the global cues, the Nifty is likely to open with a positive gap up, and continue to rally throughout the session with some bouts of selling coming in.
1) The Elder Ray readings : Bull Power rises from -175 to -124 Bear Power reduces from -242 to -230. This indicates that the Bulls are still long way from safety, and that the Bears may strike back any time.
2) The EMAs and the DMAs continue to point downwards, and any rallies will be sold off quickly is what they indicate.
3) The stochastics are well within the oversold zone and point to a short covering rally.
4) In the above chart, the upper Bollinger Band is expanding upwards and the Nifty is touching the bottom Bollinger Band, indicating that a bounce back is to be expected. However, the MACD and the ADX are still suggesting that the bearish trend will continue.
5) Considering the above, we have devised our trading plan for the day as under
a) Above 4640, we will open fresh long positions with a SL of 4610 and a target of 4710. We will add to these long positions only above 4740.
b) Around 4725, we will open fresh short positions with a SL of 4755 and a target of 4650. We will add to these short positions only below 4605.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty all set to continue its consolidation before the next big move. As discussed yesterday, "Nifty is nearing key support levels, but Bears not ready to loosen their stranglehold. " the Nifty found supports at lower levels, and tried to rise. However, the bears did not allow it to close in the green and the Nifty had to close well below its previous close. Today, given the global cues, the Nifty is likely to open in the negative, but again may find support around 4520.1) The Elder Ray readings : Bull Power reduces from -10 to -175 Bear Power increases from -200 to -242, this indicates that the Bears are in no mood to let go their control on the Nifty and that the Bulls are so exhausted that they are unable to even claw back to their territory.2) The EMAs continue to point downwards and the Nifty is trading well below all its EMAs and DMAs.3) The stochastics are well in the oversold zone, indicating that a pull back on the Nifty cannot be ruled out.4) In the above chart, the volumes have depleted in yesterday's pullback from lows. The MACD is still holding onto its sell signal. The ADX is indicating of the strengthening of the bearish trend, and the Bollinger Bands are expanding to accommodate the further downfall in the Nifty.5) Based on the above, our trading plan for the day is as undera) Below 4630, we will open fresh short positions with a SL of 4650 and a target of 4540. We will add to these short positions only below 4505.b) Around 4520, we will open fresh long positions with a SL of 4500 and a target of 4580. We will add to these long positions only above 4655.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty all set to continue its consolidation before the next big move.
As discussed yesterday, "Nifty is nearing key support levels, but Bears not ready to loosen their stranglehold. " the Nifty found supports at lower levels, and tried to rise. However, the bears did not allow it to close in the green and the Nifty had to close well below its previous close. Today, given the global cues, the Nifty is likely to open in the negative, but again may find support around 4520.
1) The Elder Ray readings : Bull Power reduces from -10 to -175 Bear Power increases from -200 to -242, this indicates that the Bears are in no mood to let go their control on the Nifty and that the Bulls are so exhausted that they are unable to even claw back to their territory.
2) The EMAs continue to point downwards and the Nifty is trading well below all its EMAs and DMAs.
3) The stochastics are well in the oversold zone, indicating that a pull back on the Nifty cannot be ruled out.
4) In the above chart, the volumes have depleted in yesterday's pullback from lows. The MACD is still holding onto its sell signal. The ADX is indicating of the strengthening of the bearish trend, and the Bollinger Bands are expanding to accommodate the further downfall in the Nifty.
5) Based on the above, our trading plan for the day is as under
a) Below 4630, we will open fresh short positions with a SL of 4650 and a target of 4540. We will add to these short positions only below 4505.
b) Around 4520, we will open fresh long positions with a SL of 4500 and a target of 4580. We will add to these long positions only above 4655.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty is nearing key support levels, but Bears not ready to loosen their stranglehold. On Friday, we had said "RBI monetary policy may stoke volatility in a already falling market."
and that is what was seen in the markets, with the Nifty traversing through 3 cents 4800 4700 and 4600, before closing at 4652. Today, given the global cues, Nifty is likely to open with a negative bias, but the double bottom formation, could lead to a relief rally.
1) The Elder Ray readings : Bull Power increases from -89 to -10 Bear Power also increases from -184 to -200. This indicates, that all the effort of Bulls on Friday, has not been able to recover lost grounds for them and that the Bears in one swift action have struck them down. However, this also indicates that the rate of increase in strength of the Bears has gone down, in turn which indicates that the fall from here might be limited for the time being.
2) The EMAs and the DMAs continue to point downwards indicating weakness in the Nifty.
3) The fast stochastics are well in the oversold zone, however, the slow stochastics are just hovering on the border line, indicating that there is still some room for the fall to continue.
4) In the above chart, the MACD histogram is in the negative and falling. Indicating that there should be caution in further selling and that the Buy signal is yet some distance away. The ADX also is indicating a slowing down of the fall ahead and a strengthening of buying action in coming sessions. However, the ADX has not yet given out any fresh buy signal as yet.
5) Based on the above, our trading plan for the day is as under.
a) Above 4580, we will open fresh long positions with a SL of 4555 and a target of 4680. We will add to these long positions only above 4720.
b) Below 4700, we will open fresh short positions with a SL of 4715 and a target of 4590. We will add to these short positions only below 4550.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty is nearing key support levels, but Bears not ready to loosen their stranglehold.
On Friday, we had said "RBI monetary policy may stoke volatility in a already falling market."
and that is what was seen in the markets, with the Nifty traversing through 3 cents 4800 4700 and 4600, before closing at 4652. Today, given the global cues, Nifty is likely to open with a negative bias, but the double bottom formation, could lead to a relief rally.
1) The Elder Ray readings : Bull Power increases from -89 to -10 Bear Power also increases from -184 to -200. This indicates, that all the effort of Bulls on Friday, has not been able to recover lost grounds for them and that the Bears in one swift action have struck them down. However, this also indicates that the rate of increase in strength of the Bears has gone down, in turn which indicates that the fall from here might be limited for the time being.
2) The EMAs and the DMAs continue to point downwards indicating weakness in the Nifty.
3) The fast stochastics are well in the oversold zone, however, the slow stochastics are just hovering on the border line, indicating that there is still some room for the fall to continue.
4) In the above chart, the MACD histogram is in the negative and falling. Indicating that there should be caution in further selling and that the Buy signal is yet some distance away. The ADX also is indicating a slowing down of the fall ahead and a strengthening of buying action in coming sessions. However, the ADX has not yet given out any fresh buy signal as yet.
5) Based on the above, our trading plan for the day is as under.
a) Above 4580, we will open fresh long positions with a SL of 4555 and a target of 4680. We will add to these long positions only above 4720.
b) Below 4700, we will open fresh short positions with a SL of 4715 and a target of 4590. We will add to these short positions only below 4550.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
RBI monetary policy may stoke volatility in a already falling market. As discussed yesterday, the selling spree continued on the Nifty, but as it approached key support levels, we saw a bounce back, which again met with selling and was not able to cross our stop loss levels. Today, with the RBI announcing its monetary policy, the markets may see whipsawing volatility. 1) The Elder Ray readings : Bull Power reduces from -37 to -89 Bear Power rises from -126 to -184, indicating that the Bears have now regained their control and again pushed down the bulls below water. 2) The EMAs and the DMAs continue to hint at the downtrend continuing.3) The stochastics are almost touching the oversold zone, indicating that there is still room for downside to the Nifty.4) In the above chart, the MACD is signalling a sell and the ADX is supporting this sell signal. The Bollinger Bands are also stretching downwards, indicating a fall in the coming sessions on the Nifty.5) Considering the above, we have devised our trading plan for the day as undera) Around 4770, we will open fresh short positions with a SL of 4795 and a target of 4695. We will add to these short positions only below 4665.b) Around 4690, we will open fresh long positions with a SL of 4660 and a target of 4750. We will add to these long positions only above 4805. Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
RBI monetary policy may stoke volatility in a already falling market.
As discussed yesterday, the selling spree continued on the Nifty, but as it approached key support levels, we saw a bounce back, which again met with selling and was not able to cross our stop loss levels. Today, with the RBI announcing its monetary policy, the markets may see whipsawing volatility.
1) The Elder Ray readings : Bull Power reduces from -37 to -89 Bear Power rises from -126 to -184, indicating that the Bears have now regained their control and again pushed down the bulls below water.
2) The EMAs and the DMAs continue to hint at the downtrend continuing.
3) The stochastics are almost touching the oversold zone, indicating that there is still room for downside to the Nifty.
4) In the above chart, the MACD is signalling a sell and the ADX is supporting this sell signal. The Bollinger Bands are also stretching downwards, indicating a fall in the coming sessions on the Nifty.
5) Considering the above, we have devised our trading plan for the day as under
a) Around 4770, we will open fresh short positions with a SL of 4795 and a target of 4695. We will add to these short positions only below 4665.
b) Around 4690, we will open fresh long positions with a SL of 4660 and a target of 4750. We will add to these long positions only above 4805.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty likely to spiral downwards, but is approaching key support levels. As discussed yesterday, selling continued unabated in the markets, and the Nifty closed in the red at 4763 after hitting our resistance levels. Today, given the global cues, the Nifty is likely to open in the negative and is likely to touch its recent lows of around 4650, where buying might come in.1) The Elder Ray readings : Bull Power increases from -71 to -37 Bear Power reduces from -167 to -126. This indicates that the Bears are still in control, but are losing some of their strength and the Bulls are trying to claw back to their own territory.2) The EMAs continue to point downwards and the Nifty is trading below all its key DMAs, indicating continuation of the downtrend.3) The stochastics are pointing downwards, and are still in the neutral zone, indicating there is still room for a fall downwards.4) In the above chart, the volumes have risen in yesterday's fall, indicating continuation of the selling. The MACD histogram has now gone in the negative, whereas the MACD trend line is giving out a fresh sell signal. The ADX is indicating loss in the selling strength, which suggests that selling might come to an end within a couple of sessions from now.5) Considering the above, we have devised our trading plan as undera) Around 4650, we will open fresh long positions with a SL of 4620 and a target of 4820. We will add to these long positions only above 4855.b) Below 4750, we will open fresh short positions with a SL of 4785 and a target of 4650. We will add to these short positions only below 4610.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty likely to spiral downwards, but is approaching key support levels.
As discussed yesterday, selling continued unabated in the markets, and the Nifty closed in the red at 4763 after hitting our resistance levels. Today, given the global cues, the Nifty is likely to open in the negative and is likely to touch its recent lows of around 4650, where buying might come in.
1) The Elder Ray readings : Bull Power increases from -71 to -37 Bear Power reduces from -167 to -126. This indicates that the Bears are still in control, but are losing some of their strength and the Bulls are trying to claw back to their own territory.
2) The EMAs continue to point downwards and the Nifty is trading below all its key DMAs, indicating continuation of the downtrend.
3) The stochastics are pointing downwards, and are still in the neutral zone, indicating there is still room for a fall downwards.
4) In the above chart, the volumes have risen in yesterday's fall, indicating continuation of the selling. The MACD histogram has now gone in the negative, whereas the MACD trend line is giving out a fresh sell signal. The ADX is indicating loss in the selling strength, which suggests that selling might come to an end within a couple of sessions from now.
5) Considering the above, we have devised our trading plan as under
a) Around 4650, we will open fresh long positions with a SL of 4620 and a target of 4820. We will add to these long positions only above 4855.
b) Below 4750, we will open fresh short positions with a SL of 4785 and a target of 4650. We will add to these short positions only below 4610.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty may continue to slide down As discussed yesterday, the Nifty tried to retest the recent lows, before staging a bounce back in the last half an hour of trade. Even after that smart looking technical bounce back, the markets are still in the bearish control, and today, after a negative opening, selling is likely to continue unabated.1) The Elder Ray readings : Bull Power reduces from -1 to -71 Bear Power rises from -156 to -167, indicating that the Bears are still driving the markets, and that the Bulls have now really lost their grounds.2) The EMAs continue to point downwards as also are the DMAs, indicating that we are still in the downtrend.3) The stochastics too are in the neutral zone and are pointing downwards, indicating a downtrend as well.4) In the above chart, the MACD continues to go down suggesting bearishness for the nifty. Also the ADX still is holding its sell signal.5) Based on the above, our trading plan for the day is as undera) Below 4830, we will open fresh short positions with a SL of 4855 and a target of 4730. We will add to these short positions only below 4700.b) We will refrain from opening long positions for the day at least.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty may continue to slide down
As discussed yesterday, the Nifty tried to retest the recent lows, before staging a bounce back in the last half an hour of trade. Even after that smart looking technical bounce back, the markets are still in the bearish control, and today, after a negative opening, selling is likely to continue unabated.
1) The Elder Ray readings : Bull Power reduces from -1 to -71 Bear Power rises from -156 to -167, indicating that the Bears are still driving the markets, and that the Bulls have now really lost their grounds.
2) The EMAs continue to point downwards as also are the DMAs, indicating that we are still in the downtrend.
3) The stochastics too are in the neutral zone and are pointing downwards, indicating a downtrend as well.
4) In the above chart, the MACD continues to go down suggesting bearishness for the nifty. Also the ADX still is holding its sell signal.
5) Based on the above, our trading plan for the day is as under
a) Below 4830, we will open fresh short positions with a SL of 4855 and a target of 4730. We will add to these short positions only below 4700.
b) We will refrain from opening long positions for the day at least.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty may test recent lows of 4650 today and stage a bounce back from there As discussed yesterday, it was sell on rise all through the trading session. Every time the Nifty tried to recover, it was punched down heavily by the Bears, and it closed near its low at 4765. Today, given the global cues, the Nifty is likely to open in the negative, and as said above, it is likely to retest its recent lows of 4650.1) The Elder Ray readings : Bull Power rises from -18 to -1 Bear Power also rises from -94 to -156. This indicates that the Bears are now in full control of the market and that the Bulls, who are trying to claw back to their territory, are still having their heads down.2) The EMAs are pointing downwards and the DMAs are stacked in favour of the Bears.3) The stochastics are in the neutral zone and are pointing downwards, indicating there is still further room for a down side to the Nifty.4) In the above chart, the volumes in yesterday's fall have depleted, indicating that the fall may be arrested for a while. However, the MACD histogram is about to go in the negative and the MACD trend line is threatening to give out a fresh sell signal. The ADX is also showing a rise in the down trend, but is nearing unsustainable levels.5) Considering the above, we have devised our trading plan for the day as undera) Around 4780, we will open fresh short positions, with a SL of 4810 and a target of 4680. We will add to these short positions only below 4655.b) Around 4670, we will open fresh long positions, with a SL of 4655 and a target of 4760. We will add to these long positions only above 4810.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty may test recent lows of 4650 today and stage a bounce back from there
As discussed yesterday, it was sell on rise all through the trading session. Every time the Nifty tried to recover, it was punched down heavily by the Bears, and it closed near its low at 4765. Today, given the global cues, the Nifty is likely to open in the negative, and as said above, it is likely to retest its recent lows of 4650.
1) The Elder Ray readings : Bull Power rises from -18 to -1 Bear Power also rises from -94 to -156. This indicates that the Bears are now in full control of the market and that the Bulls, who are trying to claw back to their territory, are still having their heads down.
2) The EMAs are pointing downwards and the DMAs are stacked in favour of the Bears.
3) The stochastics are in the neutral zone and are pointing downwards, indicating there is still further room for a down side to the Nifty.
4) In the above chart, the volumes in yesterday's fall have depleted, indicating that the fall may be arrested for a while. However, the MACD histogram is about to go in the negative and the MACD trend line is threatening to give out a fresh sell signal. The ADX is also showing a rise in the down trend, but is nearing unsustainable levels.
5) Considering the above, we have devised our trading plan for the day as under
a) Around 4780, we will open fresh short positions, with a SL of 4810 and a target of 4680. We will add to these short positions only below 4655.
b) Around 4670, we will open fresh long positions, with a SL of 4655 and a target of 4760. We will add to these long positions only above 4810.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty likely to spike up, but will meet resistance regularly As discussed on Friday, the Nifty filled the down gaps and traded in the negative for almost the entire trading session. Today, given the global cues, the Nifty is likely to open with a positive gap up, but will most likely meet resistance at higher levels, and will try to test its recent lows.1) The Elder Ray readings : Bull Power reduced from +102 to -18 Bear Power increased from -26 to -94. This shows that the Bears are now increasing in strength and that the Bulls have lost all their recently accumulated grounds.2) All the EMAs and the DMAs have now started pointing downwards, indicating resumption of the intermediary down trend.3) The stochastics, have now moved out of the overbought zone and have started pointing downwards, strengthening the hopes for the bears.4) In the above chart, the upper Bollinger Band continues to fall steeply, whereas the bottom Bollinger Band is turning flat, and threatening to fall as well. The MACD histogram in in the positive and falling, giving out a sell signal. The ADX has also strengthened its sell signal.5) Considering the above, our trading plan for the day is as undera) Around 4925, we will open fresh short positions, with a SL of 4955 and a target of 4850. We will add to these short positions, only below 4820.b) Around 4845, we will open fresh long positions, with a SL of 4825 and a target of 4890. We will add to these long positions, only above 4960.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty likely to spike up, but will meet resistance regularly
As discussed on Friday, the Nifty filled the down gaps and traded in the negative for almost the entire trading session. Today, given the global cues, the Nifty is likely to open with a positive gap up, but will most likely meet resistance at higher levels, and will try to test its recent lows.
1) The Elder Ray readings : Bull Power reduced from +102 to -18 Bear Power increased from -26 to -94. This shows that the Bears are now increasing in strength and that the Bulls have lost all their recently accumulated grounds.
2) All the EMAs and the DMAs have now started pointing downwards, indicating resumption of the intermediary down trend.
3) The stochastics, have now moved out of the overbought zone and have started pointing downwards, strengthening the hopes for the bears.
4) In the above chart, the upper Bollinger Band continues to fall steeply, whereas the bottom Bollinger Band is turning flat, and threatening to fall as well. The MACD histogram in in the positive and falling, giving out a sell signal. The ADX has also strengthened its sell signal.
5) Considering the above, our trading plan for the day is as under
a) Around 4925, we will open fresh short positions, with a SL of 4955 and a target of 4850. We will add to these short positions, only below 4820.
b) Around 4845, we will open fresh long positions, with a SL of 4825 and a target of 4890. We will add to these long positions, only above 4960.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty may try to close the gap formed at 4850 4915 Two days ago, we had suggested that "a big move may just be round the corner" and that move was set in yesterday's trade. We were fortunate to have foreseen that and were able to ride the fall, making sizable profits in the course. Today, the Nifty is likely to open with a negative gap and may move down to fill the gaps that were formed a few days ago.1) The Elder Ray readings : Bull Power reduces from +151 to +102 Bear Power increases from +84 to -26. Bears have just come back into their own territory, whereas the Bulls have just dipped in their momentum. 2) The near EMAs are turning to point downwards, and the Nifty is trading just below the 13EMA which is at 4948, and this could be the pivot point for now. The Nifty has also breached its 50 DMA which is at 5017 and this could act as a stop loss for any short positions created hereafter.3) The fast stochastics have left the overbought zone and are pointing downwards now. The slow stochastics are still in the overbought zone, indicating weakness for the Nifty.4) In the above chart, the top Bollinger Band continues to fall steeply, indicating weakness. The MACD histogram is in the positive and falling, indicating a fresh sell call. The ADX is also indicating a fresh sell call.5) Considering the above, our trading plan for the day is as undera) Around 4975, we will open fresh short positions with a SL of 5005 and a target of 4890. We will add to these short positions only below 4875.b) Around 4880, we will open fresh long positions with a SL of 4850 and a target of 4955. We will add to these long positions only above 5005. Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
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Disclaimer : We express our opinions on this blog primarily as a method of record keeping, i.e. archiving what was our opinion about the markets on any given particular day end. As such, trading in derivatives can be extremely dangerous to you and your finances. We strongly advice you to consult your financial advisor before trading based on the opinions published on this blog. We shall not be held responsible, under any circumstances, for any financial loss or profit, that may be accrued due to your trades being affected by our opinions.
