As both the Bulls and the Bears both get defensive, Nifty is still seeking further clues.As discussed yesterday, the negative bias stayed for almost the entire day, as the Nifty, even after a positive opening, could not retain the opening gains at the end of the day. Today, being a short trading session, the participation is likely to be dull. Also, both the Bulls and Bears are looking defensive, and hence, the Nifty may trade in a very small range.Whenever, the Nifty trades in a narrow range, the risk reward ratio becomes unfavorable for initiating any trades. Also it is pointless to make a detailed analysis before such a day.Hence, we are just giving our trading plan for the day.a) Below 5378, we will open fresh short positions with a SL of 5400 and a target of 5340.b) Above 5335, we will open fresh long positions with a SL of 5315 and a target of 5375.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
As both the Bulls and the Bears both get defensive, Nifty is still seeking further clues.
As discussed yesterday, the negative bias stayed for almost the entire day, as the Nifty, even after a positive opening, could not retain the opening gains at the end of the day. Today, being a short trading session, the participation is likely to be dull. Also, both the Bulls and Bears are looking defensive, and hence, the Nifty may trade in a very small range.
Whenever, the Nifty trades in a narrow range, the risk reward ratio becomes unfavorable for initiating any trades. Also it is pointless to make a detailed analysis before such a day.
Hence, we are just giving our trading plan for the day.
a) Below 5378, we will open fresh short positions with a SL of 5400 and a target of 5340.
b) Above 5335, we will open fresh long positions with a SL of 5315 and a target of 5375.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
The Nifty is likely to trade with a negative bias now.As discussed yesterday, it turned out to be a volatile day, with the Nifty recovering almost 50 points within the last hour of trade. Today, the Nifty is likely to open with a positive gap up, but will face selling at higher levels, it seems.1) The Elder Ray readings : Bull Power reduces from +52 to -25 Bear Power increases from -54 to -100. This indicates that the Bears have now gained enough control to drive the Nifty lower and any rise should be used for selling.2) The Nifty is trading below all its key EMAs now, and all the EMAs are pointing downwards.3) The stochastics are now pointing downwards and are just above the oversold zone, indicating that the downfall has some room available.4) In the above chart, the volumes have been decreasing in yesterday's volatile market. The MACD is in the positive but is falling, indicating downward movement on the Nifty. The ADX is signalling a fresh sell call and the Parabolic SAR is confirming that the downward trend is gaining momentum.5) Considering the above, our trading plan for the day is as under.a) Around 5360, we will open fresh short positions with a SL of 5385 and a target of 5310. We will add to these short positions below 5295.b) Around 5305, we will open fresh long positions with a SL of 5295 and a target of 5350. We will add to these long positions only above 5400.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
The Nifty is likely to trade with a negative bias now.
As discussed yesterday, it turned out to be a volatile day, with the Nifty recovering almost 50 points within the last hour of trade. Today, the Nifty is likely to open with a positive gap up, but will face selling at higher levels, it seems.
1) The Elder Ray readings : Bull Power reduces from +52 to -25 Bear Power increases from -54 to -100. This indicates that the Bears have now gained enough control to drive the Nifty lower and any rise should be used for selling.
2) The Nifty is trading below all its key EMAs now, and all the EMAs are pointing downwards.
3) The stochastics are now pointing downwards and are just above the oversold zone, indicating that the downfall has some room available.
4) In the above chart, the volumes have been decreasing in yesterday's volatile market. The MACD is in the positive but is falling, indicating downward movement on the Nifty. The ADX is signalling a fresh sell call and the Parabolic SAR is confirming that the downward trend is gaining momentum.
5) Considering the above, our trading plan for the day is as under.
a) Around 5360, we will open fresh short positions with a SL of 5385 and a target of 5310. We will add to these short positions below 5295.
b) Around 5305, we will open fresh long positions with a SL of 5295 and a target of 5350. We will add to these long positions only above 5400.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
Nifty may witness wild swings as both Bulls and Bears try to grab control.As discussed yesterday, selling continued on the Nifty, almost from the start and throughout the session yesterday, with the Nifty just managing to close in the positive, after a gap up opening. Today, the Nifty is likely to open in the negative, but as it approaches key support levels, the volatility is likely to increase.1) The Elder Ray readings : Bull Power increases from -19 to +52 Bear Power reduces from -104 to -54, indicating that the Bulls and the Bears are now equidistant and safe in their own territory. This will give rise to volatility as each one will try to gain control on the markets.2) The Nifty is trading below its 8 and 13 EMAs however it is above its 21 EMA and all its key DMAs. The 200 DMA is falling now.3) The stochastics are just out of the oversold zone, but are not pointing upwards.4) In the above chart, the volumes are on the lower side as the Nifty consolidates. The MACD continues to show negative bias. The ADX is giving out signals of a possible up move. However, the Parabolic SAR is showing that the resistances are getting lower. All these put together indicate a highly volatile session ahead of us.5) The Nifty future premium is extremely high and is unsustainable for a long time now. This makes it additionally difficult for long positions as the premium may drop while the Nifty rises.6) Considering the above, our trading plan for the day is as undera) Around 5340, we will open fresh long positions with a SL of 5325 and a target of 5415. We will add to these long positions only above 5465.b) Around 5445, we will open fresh short positions with a SL of 5465 and a target of 5350. We will add to these short positions only below 5330. Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty may witness wild swings as both Bulls and Bears try to grab control.
As discussed yesterday, selling continued on the Nifty, almost from the start and throughout the session yesterday, with the Nifty just managing to close in the positive, after a gap up opening. Today, the Nifty is likely to open in the negative, but as it approaches key support levels, the volatility is likely to increase.
1) The Elder Ray readings : Bull Power increases from -19 to +52 Bear Power reduces from -104 to -54, indicating that the Bulls and the Bears are now equidistant and safe in their own territory. This will give rise to volatility as each one will try to gain control on the markets.
2) The Nifty is trading below its 8 and 13 EMAs however it is above its 21 EMA and all its key DMAs. The 200 DMA is falling now.
3) The stochastics are just out of the oversold zone, but are not pointing upwards.
4) In the above chart, the volumes are on the lower side as the Nifty consolidates. The MACD continues to show negative bias. The ADX is giving out signals of a possible up move. However, the Parabolic SAR is showing that the resistances are getting lower. All these put together indicate a highly volatile session ahead of us.
5) The Nifty future premium is extremely high and is unsustainable for a long time now. This makes it additionally difficult for long positions as the premium may drop while the Nifty rises.
6) Considering the above, our trading plan for the day is as under
a) Around 5340, we will open fresh long positions with a SL of 5325 and a target of 5415. We will add to these long positions only above 5465.
b) Around 5445, we will open fresh short positions with a SL of 5465 and a target of 5350. We will add to these short positions only below 5330.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
In spite of yesterday's bounce back, the Nifty may see some selling today onwards.As discussed yesterday, it was a day of consolidation, with the Nifty trading range bound with a positive bias. We had expected a retaliatory bounce and that came in yesterday. Today, the Nifty is likely to open with a positive gap, but later in the day, some volatile swings and some selling can emerge.1) The Elder Ray readings : Bull Power reduces from +34 to -19 Bear Power also reduces from -148 to -104 indicating that after a long time the Bears have succeeded in getting the Bulls in the negative, while retaining their own safety. This is an early indication of the selling that may emerge soon.2) The Nifty is trading between the 13EMA and the 21EMA. All the key EMAs are pointing downwards.3) The stochastics are now just above the oversold zone, and indicate some more room for the current fall.4) In the above chart, the Nifty has formed what is known as an "Inside day candle". This is a perfect illustration of a consolidation phase before resumption of the current move. The MACD, the ADX and the Parabolic SAR continue with their sell signals which were generated 2 days ago.5) Considering the above, our trading plan for the day is as undera) Below 5425, we will open fresh short positions with a SL of 5455 and a target of 5335. We will add to these short positions only below 5300.b) Around 5325, we will open fresh long positions with a SL of 5305 and a target of 5375. We will add to these long positions only above 5465.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
In spite of yesterday's bounce back, the Nifty may see some selling today onwards.
As discussed yesterday, it was a day of consolidation, with the Nifty trading range bound with a positive bias. We had expected a retaliatory bounce and that came in yesterday. Today, the Nifty is likely to open with a positive gap, but later in the day, some volatile swings and some selling can emerge.
1) The Elder Ray readings : Bull Power reduces from +34 to -19 Bear Power also reduces from -148 to -104 indicating that after a long time the Bears have succeeded in getting the Bulls in the negative, while retaining their own safety. This is an early indication of the selling that may emerge soon.
2) The Nifty is trading between the 13EMA and the 21EMA. All the key EMAs are pointing downwards.
3) The stochastics are now just above the oversold zone, and indicate some more room for the current fall.
4) In the above chart, the Nifty has formed what is known as an "Inside day candle". This is a perfect illustration of a consolidation phase before resumption of the current move. The MACD, the ADX and the Parabolic SAR continue with their sell signals which were generated 2 days ago.
5) Considering the above, our trading plan for the day is as under
a) Below 5425, we will open fresh short positions with a SL of 5455 and a target of 5335. We will add to these short positions only below 5300.
b) Around 5325, we will open fresh long positions with a SL of 5305 and a target of 5375. We will add to these long positions only above 5465.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
The Nifty is likely to consolidate with volatile movements intraday.As discussed yesterday, the fall continued on the Nifty, with the Nifty closing the session with a whopping loss of 148 points. Today, some retaliatory bounce is expected with the Bears still calling the shots, as the Nifty may enter consolidation mode.1) The Elder Ray readings : Bull Power reduces from +83 to +34 Bear Power increases from -33 to -148, indicating that the Bulls are now consistently losing momentum and that they are on the brink of their own safety, they are expected to show some fight back.2) The Nifty is now trading below all its key EMAs and is above all its key DMAs.3) The fast stochastics are in the oversold zone but the slow stochastics are still some distance away and pointing downwards, indicating some more room for the fall.4) In the above chart, the volumes in yesterday's fall have decreased indicating that a bounce back may be on the cards. However, the MACD and the ADX are giving out fresh sell signals.5) Considering the above, our trading plan for the day is as under.a) Below 5335, we will open fresh short positions with a SL of 5355 and a target of 5230. We will add to these short positions only below 5200.b) Around 5210, we will open fresh long positions with a SL of 5190 and a target of 5265. We will add to these long positions only above 5355.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
The Nifty is likely to consolidate with volatile movements intraday.
As discussed yesterday, the fall continued on the Nifty, with the Nifty closing the session with a whopping loss of 148 points. Today, some retaliatory bounce is expected with the Bears still calling the shots, as the Nifty may enter consolidation mode.
1) The Elder Ray readings : Bull Power reduces from +83 to +34 Bear Power increases from -33 to -148, indicating that the Bulls are now consistently losing momentum and that they are on the brink of their own safety, they are expected to show some fight back.
2) The Nifty is now trading below all its key EMAs and is above all its key DMAs.
3) The fast stochastics are in the oversold zone but the slow stochastics are still some distance away and pointing downwards, indicating some more room for the fall.
4) In the above chart, the volumes in yesterday's fall have decreased indicating that a bounce back may be on the cards. However, the MACD and the ADX are giving out fresh sell signals.
5) Considering the above, our trading plan for the day is as under.
a) Below 5335, we will open fresh short positions with a SL of 5355 and a target of 5230. We will add to these short positions only below 5200.
b) Around 5210, we will open fresh long positions with a SL of 5190 and a target of 5265. We will add to these long positions only above 5355.
Happy Trading !!!
For cash market recommendations see our Daily Pre Market calls on NSE
The Nifty may continue its downtrend amidst bouts of volatility.As discussed on Friday, it turned out to be a trendsetting day, with some follow up selling appearing on the Nifty, and the Nifty closing the day with a loss of 54 points. With the Bears tasting some blood, our view is that the Bears may gain some momentum going forward, unless the Bulls come into action today.1) The Elder Ray readings : Bull Power reduces from +97 to +83 Bear Power rising from +21 to -33, indicating that the Bears are now in their own territory after a gap of 32 sessions, and if they don't give it away easily now, we are in for a downtrend that can continue for quite a few sessions.2) The Nifty is now trading below the 8 and 13 EMAs however, it is still above its key DMAs. The 200 DMA has resumed its downtrend.3) The stochastics are now in the neutral zone, and are pointing downwards, indicating continuation of the down fall.4) In the above chart, the volumes have increased tremendously in Friday's fall, indicating the participation of the Bears. The MACD is showing clear signals of a downtrend forming and the ADX has just stop of indicating a fresh signal. The Parabolic SAR is indicating a downtrend which can gain momentum in days to come.5) Considering the above, our trading plan for the day is as undera) Around 5445, we will open fresh short positions with a SL of 5460 and a target of 5385. We will add to these short positions below 5360.b) Around 5370, we will open fresh long positions with a SL of 5360 and a target of 5410. We will add to these long positions only above 5480.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
The Nifty may continue its downtrend amidst bouts of volatility.
As discussed on Friday, it turned out to be a trendsetting day, with some follow up selling appearing on the Nifty, and the Nifty closing the day with a loss of 54 points. With the Bears tasting some blood, our view is that the Bears may gain some momentum going forward, unless the Bulls come into action today.
1) The Elder Ray readings : Bull Power reduces from +97 to +83 Bear Power rising from +21 to -33, indicating that the Bears are now in their own territory after a gap of 32 sessions, and if they don't give it away easily now, we are in for a downtrend that can continue for quite a few sessions.
2) The Nifty is now trading below the 8 and 13 EMAs however, it is still above its key DMAs. The 200 DMA has resumed its downtrend.
3) The stochastics are now in the neutral zone, and are pointing downwards, indicating continuation of the down fall.
4) In the above chart, the volumes have increased tremendously in Friday's fall, indicating the participation of the Bears. The MACD is showing clear signals of a downtrend forming and the ADX has just stop of indicating a fresh signal. The Parabolic SAR is indicating a downtrend which can gain momentum in days to come.
5) Considering the above, our trading plan for the day is as under
a) Around 5445, we will open fresh short positions with a SL of 5460 and a target of 5385. We will add to these short positions below 5360.
b) Around 5370, we will open fresh long positions with a SL of 5360 and a target of 5410. We will add to these long positions only above 5480.
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.
