Nifty - 05 Apr 2013 - Bears rule the Nifty

Bulls waste their last chance as Bears breach the Nifty well below 200DMA.

As discussed yesterday, the Bulls still had a chance, for recovery of losses. However, the Bears had other ideas and the Nifty got sold off, right from the word go, as it opened weak with a negative gap of 32 points and kept going down all through the trading session. The Nifty made a intraday low of 5566 before closing at 5575, well below our identified support zone of 5605 5585.

1) The Elder Ray readings : Bull Power reduces from +21 to -58 Bear Power rises from -73 to -136 indicating that the Bears are now in full control of the Nifty as the Bulls gasp for breath. For today the Bulls need to overcome the levels of 5680 to regain their lost grounds whereas the Bears need to breach the Nifty below 5550 to maintain their downwards momentum.

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

3) The fast stochastics are now well and deep into the oversold zone even as the slow stochastics are still outside the oversold zone and are pointing downwards.

 

4) In the above chart, the volumes have decreased with the fall in the Nifty indicating that the fall may get arrested soon. The MACD has turned negative again with the histogram growing more in the negative. The ADX is now back again in favor of the Bears. The Parabolic SAR continues with its sell signal with the SL now pegged at 5745.

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

a) Around 5525 we will open fresh long positions with a SL of 5505 and a target of 5595. We will add to these long positions only above 5645.

b) Around 5630 we will open fresh short positions with a SL of 5645 and a target of 5545. We will add to these short positions only below 5505.

Happy Trading !!!     

Also visit Just Nifty and the Nifty Range blogs.



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

Nifty - 05 Apr 2013 - Bears rule the Nifty

Bulls waste their last chance as Bears breach the Nifty well below 200DMA.

As discussed yesterday, the Bulls still had a chance, for recovery of losses. However, the Bears had other ideas and the Nifty got sold off, right from the word go, as it opened weak with a negative gap of 32 points and kept going down all through the trading session. The Nifty made a intraday low of 5566 before closing at 5575, well below our identified support zone of 5605 5585.

1) The Elder Ray readings : Bull Power reduces from +21 to -58 Bear Power rises from -73 to -136 indicating that the Bears are now in full control of the Nifty as the Bulls gasp for breath. For today the Bulls need to overcome the levels of 5680 to regain their lost grounds whereas the Bears need to breach the Nifty below 5550 to maintain their downwards momentum.

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

3) The fast stochastics are now well and deep into the oversold zone even as the slow stochastics are still outside the oversold zone and are pointing downwards.

Nifty - 04 Apr 2013 - Bulls still have a chance

Despite yesterday's shake off, Bulls still have a chance. Volatility expected now.

As discussed yesterday, 5800 which was considered to be a key level, was defended successfully by the Bears. The Nifty opened with a minor gap down of 8 points, and struggled all through the morning session to fill up that gap, and by the afternoon, the Bears took over the control and swept the Nifty below our identified support levels of 5685 to test the lows of 5650 before closing the day at 5673. We were out of the market for the entire day, and missed out on the action.

1) The Elder Ray readings : Bull Power reduces from +23 to +22 Bear Power rises from -45 to -73 indicating that the Bulls are still holding a good chance for recovery, as the Nifty gets ready for a test of 200DMA yet again. For today, the Bulls need to overcome the levels of 5735 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the Nifty below the levels of 5640 to maintain their downwards momentum.

2) The Nifty has now again closed below all its key EMAs and also below its 50DMA and 100DMA. However, it has closed above its 200DMA(5637)

3) The stochastics are still in the neutral zone are are pointing against each other.

 

4) In the above chart, the volumes have increased with the fall in the Nifty indicating that the fall may continue. The MACD has stopped just short of giving a positive divergence, which is bad news for the Bulls. The ADX is showing a perfect equilibrium in the market with the overall momentum going down. The Parabolic SAR continues with its sell signal with the SL now pegged at 5758.

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

a) Around 5625 we will open fresh long positions with a SL of 5605 and a target of 5690. We will add to these long positions only above 5720.

b) Around 5730 we will open fresh short positions with a SL of 5755 and a target of 5650. We will add to these short positions only below 5605.

Happy Trading !!!    

Also visit Just Nifty and the Nifty Range blogs.



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

Nifty - 04 Apr 2013 - Bulls still have a chance

Despite yesterday's shake off, Bulls still have a chance. Volatility expected now.

As discussed yesterday, 5800 which was considered to be a key level, was defended successfully by the Bears. The Nifty opened with a minor gap down of 8 points, and struggled all through the morning session to fill up that gap, and by the afternoon, the Bears took over the control and swept the Nifty below our identified support levels of 5685 to test the lows of 5650 before closing the day at 5673. We were out of the market for the entire day, and missed out on the action.

1) The Elder Ray readings : Bull Power reduces from +23 to +22 Bear Power rises from -45 to -73 indicating that the Bulls are still holding a good chance for recovery, as the Nifty gets ready for a test of 200DMA yet again. For today, the Bulls need to overcome the levels of 5735 on the Nifty to maintain their upwards momentum, whereas the Bears need to breach the Nifty below the levels of 5640 to maintain their downwards momentum.

2) The Nifty has now again closed below all its key EMAs and also below its 50DMA and 100DMA. However, it has closed above its 200DMA(5637)

3) The stochastics are still in the neutral zone are are pointing against each other.

Nifty - 03 Apr 2013 - 5800 a key level for now.

As the up move continues on the Nifty, 5800 is the key level to be watched for now.

As discussed yesterday, the Up move on the Nifty continued, and the Nifty closed near the threshold level of 5750. The Nifty opened with a minor down gap of 2 points then tested our identified support levels of 5680 where the Bulls took over and the Nifty consistently rose to cross our target levels of 5735 and closed well above that at 5748 after making a intra-day high of 5755. Our trading plan(a) got triggered and met its target yielding a profit of 45 points.

1) The Elder Ray readings : Bull Power rises from -8 to +23 Bear Power reduces from -53 to -45 indicating that now with both the Bulls and the Bears in their respective territories, the Nifty is likely to indulge in volatility or tranquility. For today, the Bulls need to overcome the levels of 5760 to maintain their upwards momentum, whereas the Bears need to breach the levels of 5685 to maintain their downwards momentum.

2) The Nifty has closed above its 8EMA and 13EMA and also above its 200DMA. However, it has closed below its 21EMA (5763) and also its 50DMA and 100DMA.

3) The stochastics are in the neutral zone and are pointing upwards.

 

4) In the above chart, the volumes have increased with the rise in the Nifty, indicating that the rise may continue. The MACD is on the verge of giving out a positive divergence. The ADX is now favoring the Bulls. The Parabolic SAR continues with its sell signal with a SL of 5783.

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

a) Around 5715 we will open fresh long positions with a SL of 5685 and a target of 5780. We will add to these long positions only above 5815.

b) Around 5795 we will open fresh short positions with a SL of 5815 and a target of 5730. We will add to these short positions only below 5685.

Happy Trading !!!     
 

Also visit Just Nifty and the Nifty Range blogs.


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

Nifty - 03 Apr 2013 - 5800 a key level for now.

As the up move continues on the Nifty, 5800 is the key level to be watched for now.

As discussed yesterday, the Up move on the Nifty continued, and the Nifty closed near the threshold level of 5750. The Nifty opened with a minor down gap of 2 points then tested our identified support levels of 5680 where the Bulls took over and the Nifty consistently rose to cross our target levels of 5735 and closed well above that at 5748 after making a intra-day high of 5755. Our trading plan(a) got triggered and met its target yielding a profit of 45 points.

1) The Elder Ray readings : Bull Power rises from -8 to +23 Bear Power reduces from -53 to -45 indicating that now with both the Bulls and the Bears in their respective territories, the Nifty is likely to indulge in volatility or tranquility. For today, the Bulls need to overcome the levels of 5760 to maintain their upwards momentum, whereas the Bears need to breach the levels of 5685 to maintain their downwards momentum.

2) The Nifty has closed above its 8EMA and 13EMA and also above its 200DMA. However, it has closed below its 21EMA (5763) and also its 50DMA and 100DMA.

3) The stochastics are in the neutral zone and are pointing upwards.

Nifty - 02 Apr 2013 - Up move may continue

Nifty shows signs of a developing up move. Buy on dips till closes above open.

As discussed yesterday, the Positive up move that was expected, unfolded on the bourses. The Nifty opened with a positive gap of 15 points and maintained that gap for most of the trading session. For a brief period it dipped towards 5676, but the Bulls took over and the Nifty closed with a gain of 22 points and above the psychological level of 5700. None of our trading plans got triggered.

1) The Elder Ray readings : Bull Power rises from -40 to -8 Bear Power reduces from -128 to -53, indicating that the Bulls are now on the verge of recovery, however, they still need to keep thrusting on. For today, the Bulls need to overcome the levels of 5730 to regain their lost grounds whereas the Bears need to breach the Nifty below the levels of 5670 to maintain their downwards momentum.

2) The Nifty has closed above its 8EMA and its 200DMA, however, it has closed below its other key EMAs and other key DMAs.

3) The stochastics are just out of the oversold zone and are looking upwards.

4) In the above chart, the volumes have decreased with the rise in the Nifty indicating that the up move may get arrested soon. The MACD continues to remain in the negative however, the histogram is reducing. The ADX is suggesting equal momentum for both the Bulls and the Bears. The Parabolic SAR continues to give out its sell signal with a SL at 5812.

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

a) Around 5680, we will open fresh long positions with a SL of 5655 and a target of 5725. We will add to these long positions only above 5770.

b) Around 5745, we will open fresh short positions with a SL of 5770 and a target of 5695. We will add to these short positions only below 5655.

Happy Trading !!!    

Also visit Just Nifty and the Nifty Range blogs.



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

Nifty - 02 Apr 2013 - Up move may continue

Nifty shows signs of a developing up move. Buy on dips till closes above open.

As discussed yesterday, the Positive up move that was expected, unfolded on the bourses. The Nifty opened with a positive gap of 15 points and maintained that gap for most of the trading session. For a brief period it dipped towards 5676, but the Bulls took over and the Nifty closed with a gain of 22 points and above the psychological level of 5700. None of our trading plans got triggered.

1) The Elder Ray readings : Bull Power rises from -40 to -8 Bear Power reduces from -128 to -53, indicating that the Bulls are now on the verge of recovery, however, they still need to keep thrusting on. For today, the Bulls need to overcome the levels of 5730 to regain their lost grounds whereas the Bears need to breach the Nifty below the levels of 5670 to maintain their downwards momentum.

2) The Nifty has closed above its 8EMA and its 200DMA, however, it has closed below its other key EMAs and other key DMAs.

3) The stochastics are just out of the oversold zone and are looking upwards.

Nifty - 01 Apr 2013 - Positive up move expected

At the start of a fresh series, Nifty looks positively poised in the short term.

As discussed in our last post, we saw Expiry Jitters, throughout the trading session, although the Nifty closed in the positive with a gain of 41 points. The Nifty opened flat, with a very minor positive gap of 6 points, then resumed its down move, to trade below the 5600 mark making a low of 5683, before recovering, and then moving past the opening mark, the previous day's highs, making a high at 5693 before closing at 5683.

1) The Elder Ray readings : Bull Power rises from -86 to -40 Bear Power stagnates at -128, indicating that the Bulls need to do some more work whereas the Bears are waiting for the kill. For today, the Bulls need to overcome the levels of 5725 to regain their lost grounds whereas the Bears need to breach the Nifty below the levels of 5595 to maintain their downwards momentum.

2) The Nifty has closed below all its key EMAs and also below its 50DMA and 100DMA. However, it has a good support at 5627 which is its 200DMA.

3) The Stochastics are in the oversold zone and are pointing upwards indicating that a up move in the short term may be expected.

 

4) In the above chart, the volumes have increased with the rise in the Nifty indicating that the up move may continue. The MACD is in the negative but the histogram is seen rising, supporting the expected up move. The ADX is also suggesting a rise in the upwards momentum, but is still favoring the Bears. The Parabolic SAR continues with its sell signal with a SL at 5846.

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

a) Around 5630 we will open fresh long positions with a SL of 5610 and a target of 5710. We will add to these long positions only above 5750.

b) Around 5735 we will open fresh short positions with a SL of 5750 and a target of 5660. We will add to these short positions only below 5610.

Happy Trading !!!    

Also visit Just Nifty and the Nifty Range blogs.


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

Nifty - 01 Apr 2013 - Positive up move expected

At the start of a fresh series, Nifty looks positively poised in the short term.

As discussed in our last post, we saw Expiry Jitters, throughout the trading session, although the Nifty closed in the positive with a gain of 41 points. The Nifty opened flat, with a very minor positive gap of 6 points, then resumed its down move, to trade below the 5600 mark making a low of 5683, before recovering, and then moving past the opening mark, the previous day's highs, making a high at 5693 before closing at 5683.

1) The Elder Ray readings : Bull Power rises from -86 to -40 Bear Power stagnates at -128, indicating that the Bulls need to do some more work whereas the Bears are waiting for the kill. For today, the Bulls need to overcome the levels of 5725 to regain their lost grounds whereas the Bears need to breach the Nifty below the levels of 5595 to maintain their downwards momentum.

2) The Nifty has closed below all its key EMAs and also below its 50DMA and 100DMA. However, it has a good support at 5627 which is its 200DMA.

3) The Stochastics are in the oversold zone and are pointing upwards indicating that a up move in the short term may be expected.