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Friday 21 September 2012

Nifty - 21 Sep 2012 - Nifty in equilibrium

Bears gain some momentum, but Bulls remain stronger. Nifty critically poised now.

As discussed yesterday, the up move on the Nifty remained intact, with the Nifty following global cues opened with a negative gap down at 5537, but immediately was bought into and remained above that level throughout the trading session. However, it was not able to close above the previous day's close, thus giving the Bears the much needed fillip. Our trading plan (a) got triggered almost in the first few minutes of trade, and we could book a profit of 40 points during yesterday's trading session.

1) The Elder Ray readings : Bull Power reduces from +177 to +122 Bear Power rises from +143 to +75 indicating that the Bears are within striking range to their safety, however the Bulls are much stronger yet. For today, the Bulls need to overcome the levels of 5600 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the Nifty below the levels of 5470 to regain their lost grounds.

2) The Nifty continues to close above all its key EMAs and also above all its key DMAs. It must be pointed out here, that all the EMAs and all the DMAs are now pointing upwards, confirming the Bullish undertone on the Nifty.

3) The stochastics are still within the overbought zone.

 


4) In the above chart, the volumes have decreased with the fall in the Nifty, indicating the Bullish bias on the Nifty. The MACD is climbing up, without the histogram rising, indicating some indecision amongst the Bulls. The ADX is suggesting a weakening of the up move and a strengthening of the down move. However, the bias is still bullish. The Parabolic SAR continues to give out its buy call with a SL now pegged at 5444.

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

a) Around 5530, we will open fresh long positions with a SL of 5505 and a target of 5580. We will add to these long positions only above 5600.

b) Around 5590, we will open fresh short positions with a SL of 5560 and a target of 5550. We will add to these short positions only below 5505. 

Happy Trading !!!

Also check out Just Nifty and The Nifty Range blogs. 

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

Nifty - 21 Sep 2012 - Nifty in equilibrium

Bears gain some momentum, but Bulls remain stronger. Nifty critically poised now.

As discussed yesterday, the up move on the Nifty remained intact, with the Nifty following global cues opened with a negative gap down at 5537, but immediately was bought into and remained above that level throughout the trading session. However, it was not able to close above the previous day's close, thus giving the Bears the much needed fillip. Our trading plan (a) got triggered almost in the first few minutes of trade, and we could book a profit of 40 points during yesterday's trading session.

1) The Elder Ray readings : Bull Power reduces from +177 to +122 Bear Power rises from +143 to +75 indicating that the Bears are within striking range to their safety, however the Bulls are much stronger yet. For today, the Bulls need to overcome the levels of 5600 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the Nifty below the levels of 5470 to regain their lost grounds.

2) The Nifty continues to close above all its key EMAs and also above all its key DMAs. It must be pointed out here, that all the EMAs and all the DMAs are now pointing upwards, confirming the Bullish undertone on the Nifty.

3) The stochastics are still within the overbought zone.

Thursday 20 September 2012

Nifty - 20 Sep 2012 - Up move remains intact

After a brief pause, the Nifty likely to continue its up move once it clears 5635.

As discussed in our last post, we saw a Bullish consolidation on the Nifty, with the Nifty opening with a minor gap down of 8 points and then grinding in a narrow 35 point range during the entire trading session, without losing its bullish bias. None of our trading plans got triggered, as happens during most consolidation moves.

1) The Elder Ray readings : Bull Power reduces from +234 to +177 Bear Power rises from +167 to +143, indicating that the Bears have a long way to go, and that the Bulls are still in the driving seat. For today, the Bulls need to overcome the levels of 5650 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the levels of 5465 on the Nifty 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 still in the overbought zone.

 


4) In the above chart, we can see, that the volumes have decreased with the stagnation in the Nifty, indicating that the up move remains intact. The MACD is showing a continuation of the up move, the ADX is suggesting a mild weakening of the upwards momentum, and the Parabolic SAR continues with its buy signal with the SL now pegged at 5404.

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

a) Around 5570 we will open fresh long positions with a SL of 5545 and a target of 5625. We will add to these long positions only above 5650.

b) Around 5635, we will open fresh short positions with a SL of 5650 and a target of 5590. We will add to these short positions only below 5545. 

Happy Trading !!! 

Also see Just Nifty and Nifty Range blogs.

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

Nifty - 20 Sep 2012 - Up move remains intact

After a brief pause, the Nifty likely to continue its up move once it clears 5635.

As discussed in our last post, we saw a Bullish consolidation on the Nifty, with the Nifty opening with a minor gap down of 8 points and then grinding in a narrow 35 point range during the entire trading session, without losing its bullish bias. None of our trading plans got triggered, as happens during most consolidation moves.

1) The Elder Ray readings : Bull Power reduces from +234 to +177 Bear Power rises from +167 to +143, indicating that the Bears have a long way to go, and that the Bulls are still in the driving seat. For today, the Bulls need to overcome the levels of 5650 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the levels of 5465 on the Nifty 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 still in the overbought zone.

Tuesday 18 September 2012

Nifty - 18 Sep 2012 - Bullish consolidation

After creating a new 52 week high, the Nifty may consolidate now. Bulls still rule.

As discussed yesterday, the Nifty continued to move higher, as it opened again with a whopping positive gap of 54 points and then remained above the previous day's close throughout the entire trading session, before closing with a gain of 32 points. Our trading plan (b) triggered and almost reached the target, missing out by just a few points, and we could book a profit of 40 points almost.

1) The Elder Ray readings : Bull Power rises from +201 to +234 Bear Power reduces from +141 to +167, indicative of the strong grip of the Bulls on the Nifty. For today, the Bulls need to overcome the levels of 5685 to maintain there upwards momentum, whereas the Bears need to breach the levels of 5450 to regain their lost grounds.

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

3) The stochastics are still in the overbought zone.

 


4) In the above chart, the volumes have again increased with the rise in the Nifty indicating possibility of a further up move. The MACD is also rising rapidly now. The ADX is also confirming the strengthening of the upwards momentum. The Parabolic SAR continues to hold out its buy signal with a SL of 5357.

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

a) Around 5575, we will open fresh long positions with a SL of 5555 and a target of 5645. We will add to these long positions only above 5660.

b) Around 5650, we will open fresh short positions with a SL of 5660 and a target of 5600. We will add to these short positions only below 5555.

Happy Trading !!! 

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

Nifty - 18 Sep 2012 - Bullish consolidation

After creating a new 52 week high, the Nifty may consolidate now. Bulls still rule.

As discussed yesterday, the Nifty continued to move higher, as it opened again with a whopping positive gap of 54 points and then remained above the previous day's close throughout the entire trading session, before closing with a gain of 32 points. Our trading plan (b) triggered and almost reached the target, missing out by just a few points, and we could book a profit of 40 points almost.

1) The Elder Ray readings : Bull Power rises from +201 to +234 Bear Power reduces from +141 to +167, indicative of the strong grip of the Bulls on the Nifty. For today, the Bulls need to overcome the levels of 5685 to maintain there upwards momentum, whereas the Bears need to breach the levels of 5450 to regain their lost grounds.

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

3) The stochastics are still in the overbought zone.

Monday 17 September 2012

Nifty - 17 Sep 2012 - Nifty to continue moving higher

Post a big jump last week, the Nifty may continue to move higher. Be Bullish now.

As discussed on Friday, the Nifty soared and actually made a fresh new high while leaving the Bears gasping for breath. The Nifty opened with a positive gap up of about 95 points and kept on marching higher to eventually close at 5578 with a whopping gain of 142 points in one sweeping trading session. Our plan(a) part (b) triggered within the first 15 minutes of trade and we could, by the end of the trading session, book a good profit of 40 points.

1) The Elder Ray readings : Bull Power rises from +94 to +201 Bear Power reduces from +68 to +141 indicating that the Nifty is in solid Bull grip. For today, the Bulls need to take the Nifty over 5620 to maintain their upwards momentum whereas the Bears need to breach the Nifty below 5410 to regain their lost grounds.

2) The Nifty is trading well above all its key EMAs and also well above all its key DMAs.

3) The stochastics are well and deeply into the overbought zone.

 


4) In the above chart, the volumes have increased hugely with the huge rise on the Nifty indicating that the up move should continue. The MACD also is showing upwards momentum. The ADX is also suggesting increase in momentum for the Bulls. The Parabolic SAR continues to hold out its Buy signal with a SL now pegged at 5309.

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

a) Above 5545 we will open fresh long positions with a SL of 5530 and a target of 5620. We will add to these long positions only above 5635.

b) Around 5625 we will open fresh short positions with a SL of 5635 and a target of 5580. We will add to these short positions only below 5530.

Happy Trading !!! 

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

Nifty - 17 Sep 2012 - Nifty to continue moving higher

Post a big jump last week, the Nifty may continue to move higher. Be Bullish now.

As discussed on Friday, the Nifty soared and actually made a fresh new high while leaving the Bears gasping for breath. The Nifty opened with a positive gap up of about 95 points and kept on marching higher to eventually close at 5578 with a whopping gain of 142 points in one sweeping trading session. Our plan(a) part (b) triggered within the first 15 minutes of trade and we could, by the end of the trading session, book a good profit of 40 points.

1) The Elder Ray readings : Bull Power rises from +94 to +201 Bear Power reduces from +68 to +141 indicating that the Nifty is in solid Bull grip. For today, the Bulls need to take the Nifty over 5620 to maintain their upwards momentum whereas the Bears need to breach the Nifty below 5410 to regain their lost grounds.

2) The Nifty is trading well above all its key EMAs and also well above all its key DMAs.

3) The stochastics are well and deeply into the overbought zone.

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.