Nifty ready to soar above recent highs and sets its sight on new highs soon.As discussed yesterday, the Bullish up-move continued on the Nifty throughout the day with the Bears getting exhausted as their every attempt to sell got bought into and in the late hours of trade, the Nifty managed to close above the previous days close with a minor gain of 4 points. Yesterday, we had also suggested that new highs are expected, and now these new highs have almost become visible and we expect them to be established very soon.1) The Elder Ray readings : Bull Power reduces from +95 to +94 Bear Power also reduces from +54 to +68, indicating that the Bulls have had a very good consolidation and are now ready for a breakout. For today, the Bulls need to overcome the levels of 5465 on the Nifty to maintain their upwards momentum whereas the Bears need to breach the levels of 5360 on the Nifty to regain their lost grounds.2) The Nifty yet again closed above all its key EMAs and all its key DMAs.3) The stochastics are well into the overbought zone.4) In the above chart, the volumes have stagnated with a stagnation in the Nifty indicating a consolidation happening. The MACD has now turned very positive and is indicating more room for the up move. The ADX is suggesting a strengthening of the momentum for the Bulls. The Parabolic SAR continues with its buy signal with the SL now pegged at 5271.5) Considering the above, our trading plan for the day is as under.a) Around 5480, we will open fresh long positions with a SL of 5465 and a target of 5515. We will add to these long positions only above 5530.b) Around 5520, we will open fresh short positions with a SL of 5530 and a target of 5480. We will add to these short positions only below 5445.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Nifty ready to soar above recent highs and sets its sight on new highs soon.
As discussed yesterday, the Bullish up-move continued on the Nifty throughout the day with the Bears getting exhausted as their every attempt to sell got bought into and in the late hours of trade, the Nifty managed to close above the previous days close with a minor gain of 4 points. Yesterday, we had also suggested that new highs are expected, and now these new highs have almost become visible and we expect them to be established very soon.
1) The Elder Ray readings : Bull Power reduces from +95 to +94 Bear Power also reduces from +54 to +68, indicating that the Bulls have had a very good consolidation and are now ready for a breakout. For today, the Bulls need to overcome the levels of 5465 on the Nifty to maintain their upwards momentum whereas the Bears need to breach the levels of 5360 on the Nifty to regain their lost grounds.
2) The Nifty yet again closed above all its key EMAs and all its key DMAs.
3) The stochastics are well into the overbought zone.
After a highest close since Mar 2012, Bulls still in control. New highs expected.As discussed yesterday, the Bullish spell continued on the Nifty, with the markets opening with a minor positive gap up, and then consolidating with wild volatility in a narrow range, before charging up and then giving a highest close in about last six months. That the Bears got their chances but could not break the previous days levels (let alone the lows) establishes that the Bears now seem to have given up. Our trading plan (b) got triggered twice and we could book 45 points of profit in those two trades.1) The Elder Ray readings : Bull Power increases from +68 to +95 Bear Power reduces from +7 to +54, indicating that as of now, the Bears seem to have lost the game. For today, the Bulls need to overcome the levels of 5455 to maintain their upwards momentum whereas the Bears need to breach the Nifty below the levels of 5345 to regain their lost grounds.2) The Nifty continues to trade above all its key EMAs and all its key DMAs.3) The stochastics have just entered the overbought zone, confirming the uptrend that exists on the Nifty.4) In the above chart, the volumes have increased with the rise in the Nifty, indicating further possibility of the uptrend. The MACD is also positive now and the ADX is also suggesting a further strengthening of the bullish momentum. The Parabolic SAR continues to hold out its buy signal with the SL now pegged at 5251.5) Considering the above, our trading plan for the day is as under.a) Around 5405 we will open fresh long positions with a SL of 5385 and a target of 5455. We will add to these long positions only above 5480.b) Around 5465 we will open fresh short positions with a SL of 5480 and a target of 5425. We will add to these short positions only below 5385.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
After a highest close since Mar 2012, Bulls still in control. New highs expected.
As discussed yesterday, the Bullish spell continued on the Nifty, with the markets opening with a minor positive gap up, and then consolidating with wild volatility in a narrow range, before charging up and then giving a highest close in about last six months. That the Bears got their chances but could not break the previous days levels (let alone the lows) establishes that the Bears now seem to have given up. Our trading plan (b) got triggered twice and we could book 45 points of profit in those two trades.
1) The Elder Ray readings : Bull Power increases from +68 to +95 Bear Power reduces from +7 to +54, indicating that as of now, the Bears seem to have lost the game. For today, the Bulls need to overcome the levels of 5455 to maintain their upwards momentum whereas the Bears need to breach the Nifty below the levels of 5345 to regain their lost grounds.
2) The Nifty continues to trade above all its key EMAs and all its key DMAs.
3) The stochastics have just entered the overbought zone, confirming the uptrend that exists on the Nifty.
Bullish trend continues on the Nifty as Nifty tries to retest 5450. Volatility expected.As discussed yesterday, after Nifty taking a bullish pause, we saw the markets resume the uptrend and reach out for the skies. The Nifty opened with a negative gap down, but thereafter the Bulls came into action and the Nifty resumed its uptrend to move above 5390 before closing at 5390. Our trading plan (a) got triggered right at the opening and also reached its target, enabling us to book a profit of 55 points.1) The Elder Ray readings : Bull Power rises from +61 to +68 Bear Power also rises from +35 to +7, indicating that the Bears, even after a strong effort, have not reached their safe zone yet. For today, the Bulls need to overcome the levels of 5410 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the Nifty below 5335 to regain their lost grounds.2) The Nifty again closed above all its key EMAs and also above all its key DMAs.3) The stochastics are just about to enter the overbought zone and are still pointing upwards. 4) In the above chart, the volumes have remained stagnant with the rise in the Nifty, indicating that there is still some more momentum left on the up side. The MACD has again turned positive with the histogram also turning up. The ADX is still favoring the Bulls with the momentum on a mild rise. The Parabolic SAR continues to give out a buy signal with a SL of 5235.5) Considering the above, our trading plan for the day is as under.a) Around 5365, we will open fresh long positions with a SL of 5340 and a target of 5415. We will add to these long positions only above 5435.b) Around 5420, we will open fresh short positions with a SL of 5435 and a target of 5375. We will add to these short positions only below 5340.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Bullish trend continues on the Nifty as Nifty tries to retest 5450. Volatility expected.
As discussed yesterday, after Nifty taking a bullish pause, we saw the markets resume the uptrend and reach out for the skies. The Nifty opened with a negative gap down, but thereafter the Bulls came into action and the Nifty resumed its uptrend to move above 5390 before closing at 5390. Our trading plan (a) got triggered right at the opening and also reached its target, enabling us to book a profit of 55 points.
1) The Elder Ray readings : Bull Power rises from +61 to +68 Bear Power also rises from +35 to +7, indicating that the Bears, even after a strong effort, have not reached their safe zone yet. For today, the Bulls need to overcome the levels of 5410 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the Nifty below 5335 to regain their lost grounds.
2) The Nifty again closed above all its key EMAs and also above all its key DMAs.
3) The stochastics are just about to enter the overbought zone and are still pointing upwards.
Trading in a narrow range, Bulls take a pause while retaining their grip.As discussed yesterday, Bulls asserted their mark during trading yesterday, not letting the Nifty slip below previous day's lows and also breaching the previous day's high and in doing so, they retained their bullish grip on the Nifty, albeit with some loss of momentum. 1) The Elder Ray readings : Bull Power rises from +60 to +61 Bear Power also rises from +38 to +35, indicating that the Bulls have still held the Bears out of their safe zone. For today, the Bulls need to overcome the levels of 5390 to retain their upwards momentum, whereas the Bears need to breach the Nifty below 5320 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 right in the middle of the neutral zone and are pointing upwards. 4) In the above chart, the volumes have depleted in the narrow trading range of the Nifty yesterday, indicating lack of participation. The MACD continues to rise from the lows, indicating a bullish trend on the Nifty. The ADX is also favouring the Bulls as of now. The Parabolic SAR continues with its buy signal with the SL being moved to 5225 now.5) Considering the above, our trading plan for the day is as under.a) Around 5330, we will open fresh long positions with a SL of 5315 and a target of 5385. We will add to these long positions only above 5410.b) Around 5395, we will open fresh short positions with a SL of 5410 and a target of 5355. We will add to these short positions only below 5315.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Trading in a narrow range, Bulls take a pause while retaining their grip.
As discussed yesterday, Bulls asserted their mark during trading yesterday, not letting the Nifty slip below previous day's lows and also breaching the previous day's high and in doing so, they retained their bullish grip on the Nifty, albeit with some loss of momentum.
1) The Elder Ray readings : Bull Power rises from +60 to +61 Bear Power also rises from +38 to +35, indicating that the Bulls have still held the Bears out of their safe zone. For today, the Bulls need to overcome the levels of 5390 to retain their upwards momentum, whereas the Bears need to breach the Nifty below 5320 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 right in the middle of the neutral zone and are pointing upwards.
Bulls take the Nifty past 5340 and assert their authority. Bears left gaping with awe.On 6th Sept 2012, we suggested that the Nifty was trading near a cluster of crucial supports and that a bounce back from those levels could not have been ruled out. Also on 7th Sept 2012, we suggested that the Bulls have the advantage. As expected, we saw the Nifty open with a huge positive gap of 70 points and then keep on building on that momentum. We immediately opened fresh long positions, and could book a profit of 35 points.1) The Elder Ray readings : During the past two trading sessions, (Including the special session on Saturday), the Bull Power increased from -29 to +60, the Bear Power decreased from -72 to +38, indicating that the Bulls have managed to surprise the Bears. For today, the Bulls need to take the Nifty past 5375 to maintain their upwards momentum, whereas the Bears need to breach the Nifty below 5305 to regain their lost grounds.\2) The Nifty is trading again above all its key EMAs and also above all its key DMAs. The fact that the Nifty has regained its upwards momentum so quickly, makes us think that a fresh Bull run is about to start, if not already started.3) The stochastics are in the neutral zone and are pointing upwards, indicating some more room for an up move from current levels. 4) In the above chart, the volumes have increased with the rise in the Nifty, indicating that this up-move may be sustainable. The MACD is indicating a positive inclination with the histogram also inching upwards. The ADX is favoring the Bulls, however is suggesting a fall in the momentum. The Parabolic SAR is now signalling a Buy with the SL pegged at 5219.5) Considering the above, our trading plan for the day is as under.a) Around 5330, we will open fresh long positions with a SL of 5310 and a target of 5385. We will add to these long positions only above 5405.b) Around 5395, we will open fresh short positions with a SL of 5405 and a target of 5355. We will add to these short positions only below 5310.Happy Trading !!! For cash market recommendations see our Daily Pre Market calls on NSE
Bulls take the Nifty past 5340 and assert their authority. Bears left gaping with awe.
On 6th Sept 2012, we suggested that the Nifty was trading near a cluster of crucial supports and that a bounce back from those levels could not have been ruled out. Also on 7th Sept 2012, we suggested that the Bulls have the advantage. As expected, we saw the Nifty open with a huge positive gap of 70 points and then keep on building on that momentum. We immediately opened fresh long positions, and could book a profit of 35 points.
1) The Elder Ray readings : During the past two trading sessions, (Including the special session on Saturday), the Bull Power increased from -29 to +60, the Bear Power decreased from -72 to +38, indicating that the Bulls have managed to surprise the Bears. For today, the Bulls need to take the Nifty past 5375 to maintain their upwards momentum, whereas the Bears need to breach the Nifty below 5305 to regain their lost grounds.\
2) The Nifty is trading again above all its key EMAs and also above all its key DMAs. The fact that the Nifty has regained its upwards momentum so quickly, makes us think that a fresh Bull run is about to start, if not already started.
3) The stochastics are in the neutral zone and are pointing upwards, indicating some more room for an up move from current levels.
|
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.
