AD Code

Monday 31 December 2012

Nifty - 31 Dec 2012 - Year end on a high note

With the Bulls reclaiming 5900 again, the Nifty poised for a high note now.

As discussed on Friday, it turned out to be a volatile session at end of week as the Nifty opened with a 17 point gap up and then gyrated within a 30 point range for major part of the trading session and just as it seemed that the Bulls would breach the previous day's lows, in the last hour of trade, the Bulls took hold of the Nifty and took it past 5900 to close at 5908 with a gain of 38 points. Our trading plan(b) triggered in the morning and we could book out with a minor gain of 15 points as our trailing stop loss got hit.

1) The Elder Ray readings : Bull Power reduces from +58 to +38 Bear Power also reduces from -9 to +1 indicating that the Bears are now out or their territory again and a Bullish up move can be expected. For today, the Bulls need to overcome the levels of 5925 to maintain their upwards momentum whereas the Bears need to breach the levels of 5880 to regain their lost grounds.

2) The Nifty has again closed above all its key EMAs and also above all its key DMAs.

3) The stochastics are right in the middle and are now pointing upwards.

 


4) In the above chart, the volumes have again dipped with the rise in the Nifty indicating that the rise may not sustain. The MACD is showing early signs of an up move that need to be confirmed. The ADX is showing a fall in the bullish momentum, but still favors the bulls. The Parabolic SAR continues with its sell call with a SL of 5931.

5) Considering the above, our trading plan for the day is as under.

a) Around 5880 we will open fresh long positions with a SL of 5860 and a target of 5925. We will add to these long positions only above 5955.

b) Around 5935 we will open fresh short positions with a SL of 5955 and a target of 5895. We will add to these short positions only below 5860.

Happy Trading !!!    

Also visit Just Nifty and the Nifty Range blogs.



For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 31 Dec 2012 - Year end on a high note

With the Bulls reclaiming 5900 again, the Nifty poised for a high note now.

As discussed on Friday, it turned out to be a volatile session at end of week as the Nifty opened with a 17 point gap up and then gyrated within a 30 point range for major part of the trading session and just as it seemed that the Bulls would breach the previous day's lows, in the last hour of trade, the Bulls took hold of the Nifty and took it past 5900 to close at 5908 with a gain of 38 points. Our trading plan(b) triggered in the morning and we could book out with a minor gain of 15 points as our trailing stop loss got hit.

1) The Elder Ray readings : Bull Power reduces from +58 to +38 Bear Power also reduces from -9 to +1 indicating that the Bears are now out or their territory again and a Bullish up move can be expected. For today, the Bulls need to overcome the levels of 5925 to maintain their upwards momentum whereas the Bears need to breach the levels of 5880 to regain their lost grounds.

2) The Nifty has again closed above all its key EMAs and also above all its key DMAs.

3) The stochastics are right in the middle and are now pointing upwards.

Friday 28 December 2012

Nifty - 28 Dec 2012 - Volatile year end

Nifty poised for a volatile session at the end of week, month and year.

As discussed yesterday, it turned out to be a battle for 5900 on the bourses. The Nifty after opening near the suggested resistances, sold off to touch just below 5900 and then gyrated around that mark for almost the entire trading session, when just in the last hour, the Bears took hold and the Nifty touched 5865 before closing at 5870.  

Although the session would seem to be Bearish by and large, it should be noted that the Bulls overcame the previous day's highs while the Bears could not breach the previous day's lows.

Our trading plan (b) missed out to trigger by a whisker, and reached its target. Our trading plan (a) also triggered, but it was too late to enter the trade by then.

1) The Elder Ray readings : Bull Power rises from +44 to +58 Bear Power reduces from -14 to -9. indicating that both the Bulls and Bears are now ready for an intense battle. For today, the Bulls need to overcome the levels of 5935 to maintain their upwards momentum, whereas the Bears need to breach the levels of 5860 to maintain their downwards momentum.

2) The Nifty has closed below its 8EMA and its 13EMA, however it has closed above its 21EMA (5850) and has also closed above all its key DMAs.

3) The stochastics are in the neutral zone.

 


4) In the above chart, the volumes have increased with the fall in the Nifty, indicating that this fall can continue. The MACD continues with its negative indications. The ADX on the contrary is suggesting a rise in the upwards momentum. The Parabolic SAR continues with its sell signal with a SL of 5931.

5) Considering the above, our trading plan for the day is as under.

a) Around 5835 we will open fresh long positions with a SL of 5820 and a target of 5885. We will add to these long positions only above 5915.

b) Around 5900 we will open fresh short positions with a SL of 5915 and a target of 5855. We will add to these short positions only below 5820.

Happy Trading !!!    

Also visit Just Nifty and the Nifty Range blogs.


For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 28 Dec 2012 - Volatile year end

Nifty poised for a volatile session at the end of week, month and year.

As discussed yesterday, it turned out to be a battle for 5900 on the bourses. The Nifty after opening near the suggested resistances, sold off to touch just below 5900 and then gyrated around that mark for almost the entire trading session, when just in the last hour, the Bears took hold and the Nifty touched 5865 before closing at 5870.  

Although the session would seem to be Bearish by and large, it should be noted that the Bulls overcame the previous day's highs while the Bears could not breach the previous day's lows.

Our trading plan (b) missed out to trigger by a whisker, and reached its target. Our trading plan (a) also triggered, but it was too late to enter the trade by then.

1) The Elder Ray readings : Bull Power rises from +44 to +58 Bear Power reduces from -14 to -9. indicating that both the Bulls and Bears are now ready for an intense battle. For today, the Bulls need to overcome the levels of 5935 to maintain their upwards momentum, whereas the Bears need to breach the levels of 5860 to maintain their downwards momentum.

2) The Nifty has closed below its 8EMA and its 13EMA, however it has closed above its 21EMA (5850) and has also closed above all its key DMAs.

3) The stochastics are in the neutral zone.

Thursday 27 December 2012

Nifty - 27 Dec 2012 - Battle for 5900

On expiry day, the battle seems to be on for 5900 as the trading range persists.

As discussed yesterday, the Nifty got back into the trading zone after mimicking a breakdown. The Nifty opened with a small positive gap of 9 points and hovered around it for the first hour of trade, after which the Bulls took over and the Nifty rose to above 5900. However, it found resistance near the upper band of the trading zone and after making a high of 5918, the Nifty closed at 5905 with a gain of 50 points. Our trading plan (b) got triggered and met the SL and we booked out with a loss of 20 points.

1) The Elder Ray readings : Bull Power rises from +3 to +44 Bear Power reduces from -24 to -14 indicating that though the Bulls have gained, the Bears cannot be counted out yet. For today, the Bulls need to overcome the levels of 5925 to maintain their upwards momentum whereas the Bears need to breach the levels of 5860 to maintain their downwards momentum.

2) The Nifty has closed above all its key EMAs and also above all its key DMAs.

3) The stochastics are in the neutral zone and are pointing across each other, indicating volatility and indecision ahead.

 


4) In the above chart, the volumes have remained muted with the rise in the Nifty, indicating that the prices may not sustain if not quickly backed up by volumes. The MACD continues with its negative indications. The ADX is showing signals of a whipsaw with the momentum turning downwards. The Parabolic SAR continues to give out its sell signal with a SL of 5935.

5) Considering the above, our trading plan for the day is as under.

a) Around 5870 we will open fresh long positions with a SL of 5855 and a target of 5920. We will add to these long positions only above 5955.

b) Around 5940 we will open fresh short positions with a SL of 5955 and a target of 5890. We will add to these short positions only below 5855.

Happy Trading !!! 

Also visit Just Nifty and the Nifty Range blogs.


For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 27 Dec 2012 - Battle for 5900

On expiry day, the battle seems to be on for 5900 as the trading range persists.

As discussed yesterday, the Nifty got back into the trading zone after mimicking a breakdown. The Nifty opened with a small positive gap of 9 points and hovered around it for the first hour of trade, after which the Bulls took over and the Nifty rose to above 5900. However, it found resistance near the upper band of the trading zone and after making a high of 5918, the Nifty closed at 5905 with a gain of 50 points. Our trading plan (b) got triggered and met the SL and we booked out with a loss of 20 points.

1) The Elder Ray readings : Bull Power rises from +3 to +44 Bear Power reduces from -24 to -14 indicating that though the Bulls have gained, the Bears cannot be counted out yet. For today, the Bulls need to overcome the levels of 5925 to maintain their upwards momentum whereas the Bears need to breach the levels of 5860 to maintain their downwards momentum.

2) The Nifty has closed above all its key EMAs and also above all its key DMAs.

3) The stochastics are in the neutral zone and are pointing across each other, indicating volatility and indecision ahead.

Wednesday 26 December 2012

Nifty - 26 Dec 2012 - Back in the trading zone

Nifty gets back into the trading zone as both Bulls & Bears fail to assert.

As discussed on Monday, the Bears needed to follow up on their selling of Friday. However, the Nifty opened with a positive gap of 22 points and throughout the trading session, the Nifty traded in a narrow band of 27 points. None of our trading plans got triggered and we were happy to watch the proceedings from the sidelines.

1) The Elder Ray readings : Bull Power reduces from +17 to +3 Bear Power also reduces from -29 to -24 indicating that both the Bulls and the Bears are now in a position to assert themselves. For today, the Bulls need to overcome the levels of 5870 to maintain their upwards momentum whereas the Bears need to breach the levels of 5840 to maintain their downwards momentum.

2) The Nifty has closed below its 8EMA and its 13EMA. However, it has closed above its 21EMA (5842) and also above all its key DMAs.

3) The stochastics are now hovering on the oversold zone and are pointing across each other.

 


4) In the above chart, the volumes have depleted with a minor rise in the Nifty, indicating that the rise may not sustain. The MACD confirms the downtrend with the histogram becoming even more negative. The ADX is suggesting a slowdown in the downwards momentum. The Parabolic SAR continues with its sell signal with a SL of 5939.

5) Considering the above, our trading plan for the day is as under.

a) Around 5825 we will open fresh long positions with a SL of 5805 and a target of 5870. We will add to these long positions only above 5905.

b) Around 5880 we will open fresh short positions with a SL of 5905 and a target of 5840. We will add to these short positions only below 5805.

Happy Trading !!!   

Also visit Just Nifty and the Nifty Range blogs.


For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 26 Dec 2012 - Back in the trading zone

Nifty gets back into the trading zone as both Bulls & Bears fail to assert.

As discussed on Monday, the Bears needed to follow up on their selling of Friday. However, the Nifty opened with a positive gap of 22 points and throughout the trading session, the Nifty traded in a narrow band of 27 points. None of our trading plans got triggered and we were happy to watch the proceedings from the sidelines.

1) The Elder Ray readings : Bull Power reduces from +17 to +3 Bear Power also reduces from -29 to -24 indicating that both the Bulls and the Bears are now in a position to assert themselves. For today, the Bulls need to overcome the levels of 5870 to maintain their upwards momentum whereas the Bears need to breach the levels of 5840 to maintain their downwards momentum.

2) The Nifty has closed below its 8EMA and its 13EMA. However, it has closed above its 21EMA (5842) and also above all its key DMAs.

3) The stochastics are now hovering on the oversold zone and are pointing across each other.

Monday 24 December 2012

Nifty - 24 Dec 2012 - Bears need follow up now

Having recaptured their safe zone, Bears need to follow through now.

As discussed on Friday, the Bulls lacked follow up action and the Nifty opened with a negative gap of 28 points and never looked up. The Open & High remained the same for the entire session, indicating that the Bulls had given up. In the end, the Nifty closed at 5848 with a loss of 69 points. Part (b) of our trading plan (b) triggered right in the morning and we could book out with a small profit of 20 points by the end of the trading session.

1) The Elder Ray readings : Bull Power reduces from +63 to +17 Bear Power rises from +7 to -29 indicating that the Bears have now regained their lost grounds and need to drag the Bulls out of their territory. For today, the Bulls need to overcome the levels of 5895 to retain their upwards momentum whereas the Bears need to breach the levels of 5835 to retain their downwards momentum.

2) The Nifty has now closed below its 8EMA and its 13EMA, however it has closed just above its 21EMA (5841) and also above all its key DMAs.

3) The fast stochastics have almost reached the oversold zone, whereas the slow stochastics are languishing way back near the overbought zone, indicating that some more downfall on the Nifty.




4)  In the above chart, the volumes have increased with the fall in the Nifty indicating that the fall may continue. The MACD has now given a sell signal and the histogram has also turned negative. The ADX is also suggesting a rise in the downwards momentum. The Parabolic SAR continues with its Sell signal with the SL now at 5944.

5) Considering the above, our trading plan for the day is as under.

a) Around 5875 we will open fresh short positions with a SL of 5895 and a target of 5835. We will add to these short positions only below 5800.

b) Around 5820 we will open fresh long positions with a SL of 5800 and a target of 5860. We will add to these long positions only above 5895.

Happy Trading !!!   

Also visit Just Nifty and the Nifty Range blogs.



For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 24 Dec 2012 - Bears need follow up now

Having recaptured their safe zone, Bears need to follow through now.

As discussed on Friday, the Bulls lacked follow up action and the Nifty opened with a negative gap of 28 points and never looked up. The Open & High remained the same for the entire session, indicating that the Bulls had given up. In the end, the Nifty closed at 5848 with a loss of 69 points. Part (b) of our trading plan (b) triggered right in the morning and we could book out with a small profit of 20 points by the end of the trading session.

1) The Elder Ray readings : Bull Power reduces from +63 to +17 Bear Power rises from +7 to -29 indicating that the Bears have now regained their lost grounds and need to drag the Bulls out of their territory. For today, the Bulls need to overcome the levels of 5895 to retain their upwards momentum whereas the Bears need to breach the levels of 5835 to retain their downwards momentum.

2) The Nifty has now closed below its 8EMA and its 13EMA, however it has closed just above its 21EMA (5841) and also above all its key DMAs.

3) The fast stochastics have almost reached the oversold zone, whereas the slow stochastics are languishing way back near the overbought zone, indicating that some more downfall on the Nifty.

Friday 21 December 2012

Nifty - 21 Dec 2012 - Bulls lack follow up

Bulls do not show follow up buying, Bears trying to get their foot in.

As discussed yesterday, Bulls tried to take away the Nifty, however a lack of follow up buying ensured that the Nifty got bogged down and breached the previous day's lows before finally closing with a loss of 13 points. Our trading plan (a) got triggered and we were able to book out at the end of day with a profit of 10 points.

1) The Elder Ray readings : Bull Power reduces from +72 to +63 Bear Power rises from +43 to +7 indicating that if the Bulls do not act now, the Bears will regain their footing. For today, the Bulls need to overcome the levels of 5950 to maintain their upwards momentum whereas the Bears need to breach the Nifty below 5880 to regain their lost grounds.

2) The Nifty has closed above all its key EMAs and also above all its key DMAs.

3) The stochastics are just below the overbought zone and are pointing downwards now.




4) In the above chart the volumes have decreased with the fall in the Nifty indicating that this could just be profit booking. The MACD has again turned negative indicating that this could be start of a new down move. The ADX is also suggesting a loss of momentum for the up move and a gain in momentum for the down move. The Parabolic SAR continues with its sell call with a SL at 5949 now.

5) Considering the above, our trading plan for the day is as under.

a) Around 5885 we will open fresh long positions with a SL of 5870 and a target of 5940. We will add to these long positions only above 5965. 

b) Around 5945 we will open fresh short positions with a SL of 5965 and a target of 5910. We will add to these short positions only below 5870.

Happy Trading !!! 

 

Also visit Just Nifty and the Nifty Range blogs.



For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 21 Dec 2012 - Bulls lack follow up

Bulls do not show follow up buying, Bears trying to get their foot in.

As discussed yesterday, Bulls tried to take away the Nifty, however a lack of follow up buying ensured that the Nifty got bogged down and breached the previous day's lows before finally closing with a loss of 13 points. Our trading plan (a) got triggered and we were able to book out at the end of day with a profit of 10 points.

1) The Elder Ray readings : Bull Power reduces from +72 to +63 Bear Power rises from +43 to +7 indicating that if the Bulls do not act now, the Bears will regain their footing. For today, the Bulls need to overcome the levels of 5950 to maintain their upwards momentum whereas the Bears need to breach the Nifty below 5880 to regain their lost grounds.

2) The Nifty has closed above all its key EMAs and also above all its key DMAs.

3) The stochastics are just below the overbought zone and are pointing downwards now.

Thursday 20 December 2012

Nifty - 20 Dec 2012 - Bulls take it away

Nifty breaks equilibrium on the up side, but just. More followup needed.

As discussed yesterday, the Nifty, which was in equilibrium, aided by strong global cues, broke out on the up side. However, there were not much gains after this positive opening, making one to wait for more upside confirmation now. Our trading plan (a) got triggered, but did not meet its target neither its SL, and we had to book out at the end of day with a small loss of 5 points.

1) The Elder Ray readings : Bull Power rises from +49 to +72 Bear Power reduces from -34 to +43 indicating that the Bulls have got stronger and that the Bears are now out of their safe zone. For today, the Bulls need to overcome the levels of 5955 to maintain their upwards momentum whereas the Bears need to breach the levels of 5870 to regain their lost grounds.

2) The Nifty continues to close above all its key EMAs and also above all its key DMAs.

3) The stochastics are just below the overbought zone and are pointing upwards now.

 


4) In the above chart, the volumes have remained stagnant with the Nifty gaining in value, indicating strength in the up move but warranting caution. The MACD remains non-committal with the histogram hovering around the zero line. The ADX suggests a rise in momentum for the up move, while the Parabolic SAR continues with its sell signal with a SL of 5954.

5) Considering the above, our trading plan for the day is as under.

a) Around 5900 we will open fresh long positions with a SL of 5880 and a target of 5950. We will add to these long positions only above 5975.

b) Around 5955 we will open fresh short positions with a SL of 5975 and a target of 5910. We will add to these short positions only below 5880.

Happy Trading !!!   

Also visit Just Nifty and the Nifty Range blogs.


For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 20 Dec 2012 - Bulls take it away

Nifty breaks equilibrium on the up side, but just. More followup needed.

As discussed yesterday, the Nifty, which was in equilibrium, aided by strong global cues, broke out on the up side. However, there were not much gains after this positive opening, making one to wait for more upside confirmation now. Our trading plan (a) got triggered, but did not meet its target neither its SL, and we had to book out at the end of day with a small loss of 5 points.

1) The Elder Ray readings : Bull Power rises from +49 to +72 Bear Power reduces from -34 to +43 indicating that the Bulls have got stronger and that the Bears are now out of their safe zone. For today, the Bulls need to overcome the levels of 5955 to maintain their upwards momentum whereas the Bears need to breach the levels of 5870 to regain their lost grounds.

2) The Nifty continues to close above all its key EMAs and also above all its key DMAs.

3) The stochastics are just below the overbought zone and are pointing upwards now.

Wednesday 19 December 2012

Nifty - 19 Dec 2012 - Equilibrium continues

Bears break lows, Bulls breach highs, Nifty maintains equilibrium awaiting followup.

In our yesterday's post, we had suggested that "Nifty maintains equilibrium". As such, the Nifty opened with a positive gap of 16 points and then the Bears dragged it down to breach the previous day's lows to 5823, where the Nifty found support and the Bulls then took it away to 5906, overcoming the previous day's highs, before closing at 5897 with a gain of 39 points. Our trading plan (b) got triggered first and it also met its target, giving us a profit of 40 points. Later, our trading plan (a) got triggered. It did not meet the SL, however, we booked out at end of day with a small loss of 5 points.

1) The Elder Ray readings : Bull Power rises from +36 to +49 Bear Power also rises from 0 to -34 indicating that the Nifty is still in equilibrium and that one of the sides needs a follow up today. For today, the Bulls need to overcome the levels of 5915 to maintain their upwards momentum, whereas the Bears need to breach the Nifty below 5825 to maintain their downwards momentum.

2) The Nifty has closed above all its key EMAs and also above all its key DMAs, indicating that the Bulls are having a upper hand as of now.

3) The stochastics are still just below the overbought zone and are pointing downwards, indicating that the Bears might strike any moment.

 


4) In the above chart, the volumes have increased with the rise in the Nifty indicating that this up move can sustain. The MACD has triggered on the down side and the histogram has indeed turned negative. The ADX is suggesting a loss of momentum for the up move and a rise in momentum for the down move. The Parabolic SAR continues with its sell call with a SL now at 5960.

5) Considering the above, our trading plan for the day is as under.

a) Around 5930 we will open fresh short positions with a SL of 5950 and a target of 5875. We will add to these short positions only below 5850.

b) Around 5870 we will open fresh long positions with a SL of 5850 and a target of 5920. We will add to these long positions only above 5950.

Happy Trading !!!      

Also visit Just Nifty and the Nifty Range blogs.


For cash market recommendations see our Daily Pre Market calls on NSE

Nifty - 19 Dec 2012 - Equilibrium continues

Bears break lows, Bulls breach highs, Nifty maintains equilibrium awaiting followup.

In our yesterday's post, we had suggested that "Nifty maintains equilibrium". As such, the Nifty opened with a positive gap of 16 points and then the Bears dragged it down to breach the previous day's lows to 5823, where the Nifty found support and the Bulls then took it away to 5906, overcoming the previous day's highs, before closing at 5897 with a gain of 39 points. Our trading plan (b) got triggered first and it also met its target, giving us a profit of 40 points. Later, our trading plan (a) got triggered. It did not meet the SL, however, we booked out at end of day with a small loss of 5 points.

1) The Elder Ray readings : Bull Power rises from +36 to +49 Bear Power also rises from 0 to -34 indicating that the Nifty is still in equilibrium and that one of the sides needs a follow up today. For today, the Bulls need to overcome the levels of 5915 to maintain their upwards momentum, whereas the Bears need to breach the Nifty below 5825 to maintain their downwards momentum.

2) The Nifty has closed above all its key EMAs and also above all its key DMAs, indicating that the Bulls are having a upper hand as of now.

3) The stochastics are still just below the overbought zone and are pointing downwards, indicating that the Bears might strike any moment.

Tuesday 18 December 2012

Nifty - 18 Dec 2012 - Nifty maintains equilibrium

Bulls & Bears maintain a cautious equilibrium on the eve of the RBI Policy.

As discussed yesterday, the Nifty exhibited all nuances of being in the trading mode.  After opening with a negative gap of 20 points, the Nifty traded within a range of 36 points for the entire session, without breaching either the previous day's high or the previous day's low. Finally, the Nifty closed with a loss of 22 points. None of our trading plans were triggered, and we were happy sitting on the sidelines.

1) The Elder Ray readings : Bull Power reduces from +37 to +36 Bear Power also reduces from -10 to 0 indicating that both the Bulls and the Bears have maintained a cautious view and have protected their positions. For today, the Bulls need to overcome the levels of 5890 to maintain their upwards momentum, whereas the Bears need to breach the levels of 5845 to maintain their downwards momentum.

2) The Nifty has closed below its 8EMA (5870). However, the Nifty has closed above its 13EMA and its 21EMA. The Nifty has also closed above all its key DMAs.

3) The stochastics are hovering just below the overbought zone and are pointing downwards.

 


4) In the above chart, the volumes have decreased with a minimal movement in the Nifty indicating caution on parts of the participants. The MACD is just about to trigger a Sell call, however, it has not triggered yet. The Histogram, although diminishing, is still in the positive. The ADX is showing a loss of momentum for both the Bulls and the Bears, but is favoring the Bulls as of now. The Parabolic SAR is giving out a sell signal with a SL of 5963.

5) Considering the above, our trading plan for the day is as under.

a) Around 5890 we will open fresh short positions with a SL of 5910 and a target of 5840. We will add to these short positions only below 5805.

b) Around 5835 we will open fresh long positions with a SL of 5805 and a target of 5870. We will add to these long positions only above 5910.

Happy Trading !!!    

Also visit Just Nifty and the Nifty Range blogs.



For cash market recommendations see our Daily Pre Market calls on NSE
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.