tag:blogger.com,1999:blog-74425284326863548372012-03-02T17:46:55.631-08:00Our Nifty trading plan for the day. Before the start of every trading sessionITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.comBlogger1281100tag:blogger.com,1999:blog-7442528432686354837.post-84874522157239939702012-03-02T17:35:00.000-08:002012-03-02T17:46:55.643-08:00

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

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-28814233372119682402012-03-01T17:55:00.001-08:002012-03-01T17:55:41.561-08:00

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 -

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-9116576447265992582012-02-29T16:46:00.003-08:002012-02-29T16:46:43.545-08:00

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

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-90129748901189667922012-02-28T18:08:00.003-08:002012-02-28T18:08:47.439-08:00

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

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-53751151887150250382012-02-27T16:25:00.001-08:002012-02-27T16:25:18.403-08:00

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

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-50879933664538157502012-02-26T11:31:00.000-08:002012-02-26T11:31:31.009-08:00

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

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-28349987930649464222012-02-23T17:30:00.000-08:002012-02-23T17:30:09.729-08:00

With the Nifty nearing key supports, the next trend may be decided today. As discussed yesterday, the expiry jitters were felt, as the Nifty whipsawed between 5540 and 5470, which were the levels identified by us yesterday. Today, given the global cues, the Nifty is likely to open with a positive bias. 1) The Elder Ray readings : Bull Power reduces from +197 to +97 Bear Power increases from +

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-47506363562918960452012-02-22T17:31:00.000-08:002012-02-22T17:31:07.386-08:00

It will be prudent to wait for a fresh signal, on the day of expiry. As discussed yesterday, the Nifty was being held high by the Bulls for the first half of the trading session. However, towards the end, selling emerged and got stronger, closing the Nifty with a loss of 102 points. Is this the end of the up-move? Will the selling continue? These are questions that will be answered by end of

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-10052870161364285262012-02-21T17:17:00.004-08:002012-02-21T17:17:59.508-08:00

As expiry approaches, the Nifty will be held high by the Bulls. As discussed yesterday, the up move continued on the Nifty, with the Nifty closing with a gain of 43 points. The expiry of the current series is just two sessions away, and the Bears are a beaten down lot. This will enable the Bulls to hold the Nifty high, even if they are not able to cross even higher hurdles. 1) The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-39779816030731400492012-02-20T18:57:00.000-08:002012-02-20T18:57:50.810-08:00

The Nifty uptrend seems likely to continue unabated. As discussed on Friday, it was Bulls all the way, throughout the session, with the Nifty never ever coming below its opening mark and then closing with a gain of 42 points. Today, given the global cues, the Nifty is likely to open even higher and then stay afloat for yet another winning day. 1) The Elder Ray readings : Bull Power rises from

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-44524244842942193362012-02-16T18:16:00.000-08:002012-02-16T18:16:34.889-08:00

Nifty ready to soar again as the Bulls march on almost unstoppable now. As discussed yesterday, it was time for caution, as the Bulls booked some profit but never let the Nifty drift down below 5485. It has now become a case of the last of the Bears getting squeezed out, and if that be the case, the Nifty may well soar high above its all time highs in a very short period now. 1) The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-13165840154285468212012-02-15T18:02:00.000-08:002012-02-15T18:02:06.625-08:00

It is time for caution as the Nifty may be near to topping out. As discussed yesterday, the positive bias continued on the Nifty, with the Nifty opening with a positive gap up and then never ever looking back, to close with a whopping gain of 116 points. Today, given the global cues, the Nifty is likely to have a subdued opening and then a volatile session may be witnessed. A close below 5460

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-11696238647319387192012-02-14T17:54:00.000-08:002012-02-14T17:54:23.954-08:00

Nifty refuses to fall amidst mixed signals. As discussed yesterday, the upward bias remained active throughout the session, with the Nifty trying to force its way up at the very fag end of the day. We had also mentioned that the focus should be on whether the Nifty is able to break out of the current range and in which direction. That focus still remains as the Nifty is still within that range

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-62979049435339735512012-02-13T17:53:00.000-08:002012-02-13T17:53:46.614-08:00

Nifty may trade within a narrow range with a upward bias. As discussed yesterday, the bullish trend continued on the Nifty, and amidst a narrow trading range the Nifty closed with a modest gain of 9 points. Today, given the global cues, the Nifty is likely to open flat to positive, and our focus will be to see whether a breakout occurs, and if it does occur, then in which direction. 1) The

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-79678249979429801032012-02-12T17:28:00.000-08:002012-02-12T17:28:29.078-08:00

Bullish up-trend may continue for now as the Bears are still weak. After a few choppy sessions, the Nifty is still going strong, as the Bears have not been able to drag it down below 5325 effectively. Today, given the global cues, the Nifty is likely to open in the negative, and there will be a fair chance for the bears to suppress the Nifty. If they fail to do so, then the Bullish trend may

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-29490318804671879872012-02-08T18:21:00.000-08:002012-02-08T18:21:38.247-08:00

After a 21 day rally, the Nifty is poised for a correction. As discussed since the start of this week, it was time for caution with the double top formation and the choppy session witnessed yesterday just about confirmed the possibility of the much awaited correction. Today, given the global cues the Nifty is likely to open with a flat to negative bias, and later in the day may witness some

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-59434495610039917642012-02-07T19:15:00.000-08:002012-02-07T19:15:53.638-08:00

The Nifty may open positive today, but may not sustain the gaps. As discussed yesterday, the double top formation did bring about some selling / profit booking and the Nifty after opening above 5400 could not sustain the gap and closed in the negative at 5335. Today, given the global cues, the Nifty is again likely to open with a positive gap, but sustainability at higher levels is still

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-22238746826169322372012-02-06T18:22:00.000-08:002012-02-06T18:22:07.766-08:00

The Nifty is about to form a double top and oscillators are showing -ve divergence. As discussed yesterday, it was time for caution and the Nifty after opening higher, failed twice during the session to trade above 5390 (our yesterday's resistance level) before ending at 5362 which was 17 points below its opening mark. During the course of the day, the Nifty traded at a low of 5327, giving up

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-64054435555900113672012-02-05T18:10:00.000-08:002012-02-05T18:10:05.116-08:00

The Nifty enters 20th consecutive session in overbought zone. Caution warranted. As discussed in our last post, Buy on Dips was the slogan for the day, and the Nifty after hovering in the negative, zoomed past 5300 to close at 5325 by the end of the day. Today, given the global cues, the Nifty is likely to open with a nice positive gap up, this is when caution is warranted as the Nifty will

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-85512756429068547812012-02-02T18:21:00.000-08:002012-02-02T18:21:01.017-08:00

Look out to buy the Nifty on dips, as the up-trend is still intact As discussed yesterday, the up and above direction on the Nifty continued unabated, even after the rough shock on the cancellation of 2G licenses. The Nifty managed to close with gains of 34 points. Today, given the global cues, the Nifty is likely to open flat. 1) The Elder Ray readings : Bull Power increases from +172 to +

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-62940427915604406912012-02-01T17:01:00.000-08:002012-02-01T17:01:46.488-08:00

The Nifty is poised to cross over 5300 levels with a positive gap up opening. As discussed yesterday, the roadblocks to the bullish up-move held the Nifty in the negative zone for the first half of the session. However, once the bears weakness was obvious as they could not pull down the Nifty below 5140, the Bulls took over and the Nifty then jumped over the roadblocks to close at a handsome

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-72963130366891418312012-01-31T19:03:00.000-08:002012-01-31T19:03:02.433-08:00

With Nifty poised near key resistances, the bull run may run into roadblocks As discussed yesterday, instead of the intraday volatility, the daily volatility increased, and we saw the Nifty recovering the entire losses of Monday, within just one trading session. This move has bolstered the bulls who now have the last few roadblocks to jump over. Today, given the global cues, the Nifty is

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-29154664576931631582012-01-30T18:22:00.000-08:002012-01-30T18:22:15.599-08:00

A volatile session lies ahead as the Bears try to take control. As discussed yesterday, the Hanging Man formation proved to be a cog in the wheel for the Bullish runaway rally witnessed over the past 20 sessions. The Nifty opened in the negative and closed near the day's low, losing 117 points at the end of the session. Today, the volatility is likely to increase as the Bears are not expected

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-83280815461762145562012-01-29T17:36:00.000-08:002012-01-29T17:36:09.964-08:00

The Nifty has formed a Hanging Man in the supply zone. Correction expected As discussed on Friday, the Bulls were on the roll and thus they opened the Nifty with a good positive gap and maintained the gains throughout the trading session. However, the 200 DMA at 5210 proved to be a strong resistance and the Nifty formed a Hanging Man formation on the daily charts just below this key level. 1)

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-59624563322846508132012-01-26T18:59:00.000-08:002012-01-26T18:59:17.363-08:00

Nifty likely to move higher on a fresh start of a new series. This is a fresh start to a fresh series. In the last series, the Bears have been butchered all the way with not even one session meaningfully closing in their favor. The Bulls have run away with more than 10% gain in just one month. The trend is likely to continue as per the technical charts. 1) The Elder Ray readings :Bull Power

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-33577205071355112492012-01-24T17:38:00.000-08:002012-01-24T17:38:31.538-08:00

Having the Nifty risen consistently throughout the month, expect volatility today. As discussed yesterday, all eyes were on the RBI monetary policy, and the Nifty traded nervously before that announcement, after which the Bulls never let go. Today being the expiry of the series, some volatility is expected on the bourses, although the trend is likely to have a positive bias. 1)  The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-3715380178817992492012-01-23T17:16:00.000-08:002012-01-23T17:16:46.189-08:00

Highly overbought Nifty fall may get triggered if RBI disappoints. With the expiry of the current series nearing, and the RBI announcing monetary policy today, the markets would be on the edge at the start of the session today. Technically, the Nifty is in the overbought zone but having defended the downturn for almost the entire month, the Bulls are unlikely to give away on the last two days

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-69286380739011431582012-01-22T18:51:00.000-08:002012-01-22T18:51:45.697-08:00

Huge volatility could be seen on the Nifty prior to expiry As discussed in our last post, the Bulls exhibited their full control over the Nifty, and recovered all the intra-day losses to close the Nifty with a gain of 30 points. The Nifty opened with a gap up and the Bears were unable to pull down the Nifty to those gaps. Now we have three runaway gaps unfilled in this current series, which

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-84678867559162617132012-01-19T19:01:00.000-08:002012-01-19T19:01:50.365-08:00

The bulls are in the drivers seat and may take the Nifty past 5070. We were absent from the market yesterday, owing to our social engagements. However, we are back today and here are the technicals as of now. 1) The Elder Ray readings : Bull Power increases from +138 to +156  Bear Power reduces further from +89 to +124, indicating the steam in the Bullish uptrend in the near term is intact,

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-50684752822978282862012-01-17T17:24:00.000-08:002012-01-17T17:24:46.046-08:00

The Nifty has gone too far too fast and is likely to meet resistance ahead. As discussed yesterday, the Nifty opened with a gap up and maintained its positive bias throughout the day. Yesterday, the second part of our plan b came into action straightaway and the entire session stuck to that scenario. During the current series, we have seen the Nifty rise sharply and then consolidate thrice. If

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-25947942896664279042012-01-16T19:05:00.000-08:002012-01-16T19:05:18.796-08:00

The Nifty is likely to consolidate further with a positive bias. As discussed yesterday, the Nifty opened with a gap down and traded with a negative bias for most of the session, until at the very last hour, it spiked up to close with a modest gain of 8 points. Today, given the global cues, the Nifty is likely to open with a positive gap up, however, its sustainability at higher levels is

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-64939153083897923802012-01-15T18:20:00.000-08:002012-01-15T18:20:10.916-08:00

With the dollar index peaking, the Nifty is likely to open and stay in the negative. As discussed in our last post, the downtrend on the Nifty is likely to resume today. Given the global cues, the S&P downgrading of 9 Euro countries, and the rising dollar index, the Nifty is likely to open with a negative gap and is also likely to trade in the negative for most of the session. 1) The Elder

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-14504673839494566192012-01-12T18:13:00.000-08:002012-01-12T18:13:56.415-08:00

With the Nifty hovering at resistances, a downtrend may emerge soon. As discussed yesterday, the Nifty traded both-ways in an undecided market. Today, the Nifty is likely to open with a slight positive bias and may trade in a narrow range. 1) The Elder Ray readings : Bull Power reduces from +113 to +95 Bear Power rises from +77 to +30 Bulls will have to defend 4775 level to prevent the Bears

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-50038320742741910922012-01-11T18:24:00.000-08:002012-01-11T18:24:35.264-08:00

After a big leap, the Nifty is waiting for the next big move. As discussed yesterday, the up-move on the Nifty continued, but was met with resistance at higher levels, and the Nifty was not able to topple 4880. Today, the markets are likely to open flat and are likely to consolidate again. 1) The Elder Ray readings : Bull Power rises from +108 to +113 Bear Power reduces from +20 to +77,

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-55190129091698883302012-01-10T19:04:00.000-08:002012-01-10T19:04:51.277-08:00

With the Nifty staging a breakout, the bullish trend may stay for a while. As discussed during our last few posts, the Nifty was in a consolidation mood, and we were awaiting the next big move out of the trading range. This move came yesterday, with a big bang and the Nifty staged a breakout. While this up-trend may continue for a while, there are dangers ahead, and it will be interesting how

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-47674719208995563612012-01-09T18:12:00.000-08:002012-01-09T18:12:23.924-08:00

The Nifty is still in the consolidating phase. As discussed yesterday, the Nifty remained directionless, and closed with a modest loss of 4 points. This trend-less gyration on the Nifty may continue for a while before either a breakout or a break down occurs. It is still better to wait for the markets to take a turn, and still better not to hazard a prediction. 1) The Elder Ray readings : 

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-42885865387539204972012-01-08T18:05:00.000-08:002012-01-08T18:05:03.823-08:00

Nifty may remain range-bound within its current trading range. As we have been discussing for the last few days, the Nifty has been consolidating in a very narrow range, with a few bouts of volatility. The same may continue for another day today. The markets seem to be waiting for a trigger to breakout from this range. It is better to let the markets decide the direction instead of trying to

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-20823608632074254922012-01-05T17:55:00.000-08:002012-01-05T21:15:03.820-08:00

Nifty may continue trading within a tight range. As discussed yesterday, it was a day of consolidation on the Nifty, with the Bulls failing to take it above the previous day's high and the Bears failing to break the previous day's low. Today, the Nifty is likely to open with a negative bias, but buying could emerge at lower levels. 1) The Elder Ray readings : Bull Power reduces from +65 to +

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-41305022493003382022012-01-04T18:00:00.000-08:002012-01-04T18:01:45.487-08:00

With the Nifty hitting into resistance, a day of consolidation lies ahead As discussed yesterday, the strong rally ran into resistance and the Nifty saw some profit booking at higher levels before closing with a minor loss of 15 points. Today, the Nifty is likely to open flat with a negative bias, but may find strong support around 4700 4685 levels and a strong resistance at 4760 4785 zone. 1

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-79089578735042714582012-01-03T17:47:00.000-08:002012-01-03T17:47:47.837-08:00

The strong rally on the Nifty may well get arrested soon as it runs into resistance. Unlike our discussion yesterday, the Bears gave away much of their control, and the Bulls took off with a strong rally of about 90 points adding on to the positive gap of about 40 points. Today, given the global cues, the Nifty is likely to open in the positive, but selling pressure may be seen soon, and the

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-29131975316633099722012-01-02T17:39:00.000-08:002012-01-02T17:39:30.085-08:00

With the Nifty at the lower end of its current trading range, Bears still rule. As discussed yesterday, the downtrend on the Nifty continued for a major part of the trading session, with the Nifty ending at 4637, unable to cross the day's high established in the morning trade. Today, the Nifty is likely to open in the flat to positive zone, but again at a bit high selling may emerge. 1) The

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-54504615896649857252012-01-01T18:34:00.000-08:002012-01-01T18:34:27.034-08:00

With lackluster participation, the downtrend on the nifty might continue today. As discussed on Friday, the bearishness on the Nifty set in, and the Nifty closed at 4624 after showing a high of 4690 during the trading session. Today, given the global cues, the Nifty is likely to open with a negative bias, and may test the near supports o 4560. 1) The Elder Ray readings : Bull Power increases

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com1tag:blogger.com,1999:blog-7442528432686354837.post-6445075931094501712011-12-29T18:45:00.000-08:002011-12-29T18:45:45.322-08:00

The fresh series may open positive, but bears could take over soon As discussed yesterday, selling continued on the Nifty throughout the session and the Nifty closed at 4646 before touching our resistance levels of 4700. Today, given the global cues, and considering that this is a fresh start to a fresh series, the Nifty may trade in the positive, but then bears would strike soon and with venom

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-55258471964144585192011-12-28T18:21:00.000-08:002011-12-28T18:21:35.169-08:00

With a fresh sell signal emerging on the charts, downtrend on the Nifty to continue. As discussed yesterday, the downtrend on the Nifty, resumed after a gap of a couple of sessions. Today, given the global cues, the Nifty is likely to open in the negative and in a few sessions from now, is likely to head for targets much below the recent lows. 1)  The Elder Ray readings : Bull Power reduces

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-2035831494654366362011-12-27T18:18:00.000-08:002011-12-27T18:18:36.742-08:00

With Nifty stumbling at near resistance, the downtrend is likely to resume today. As discussed recently, the Nifty traded with extremely depleted volumes and has not been able to sustain above 4785 which is its near time resistance. Today, given the global cues, the Nifty is likely to open with a negative bias, which may strengthen the downturn as the session goes by. 1) The Elder Ray readings

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-15988715070117440182011-12-26T19:02:00.000-08:002011-12-26T19:02:45.035-08:00

With the year end expiry nearing, the volatility in the markets can only rise. As discussed yesterday, the Nifty traded range-bound through most part of the session, before closing near the day's high point. Today, the nifty is likely to open down, and mostly stay down, before the expiry jitters set in. As the volumes, have depleted greatly in the trade yesterday, any technical analysis would

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-79431541580146691422011-12-25T18:03:00.000-08:002011-12-25T18:03:37.354-08:00

The nifty may remain rangebound in a volatile market. As discussed on Friday, the whipsaw like movements in the Nifty continued, with the Nifty opening in the positive, and closing slightly in the negative after trading in a 70 point range. Today, given the global cues, again the nifty is likely to open with a positive bias, but is likely to meet stiff resistance soon. 1) The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-90797384401744801722011-12-22T18:19:00.000-08:002011-12-22T18:24:56.367-08:00

Nifty is so precariously poised, that it is anybody's market now. As discussed yesterday, in a two way swinging market, the Nifty traded between 4633 and 4741. Today, given the global cues, the nifty is likely to open positive, but is nearing short term resistances, where the bears could strike with venom. 1) The Elder Ray readings : Bull Power increases from -44 to -9 Bear Power reduces from

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-57080634067844577132011-12-21T18:16:00.000-08:002011-12-21T18:16:52.856-08:00

With the Nifty in neutral zone, the whipsaw might start again. As discussed yesterday, the relief rally on the Nifty did emerge late into the trading session. The Nifty closed at 4693 before just touching our target of 4710. Today, the Nifty is likely to open flat and is likely to swing both ways in a range bound market. 1) The Elder Ray readings :Bull Power increases from -124 to -44 Bear

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-81620498239753702232011-12-20T19:03:00.000-08:002011-12-20T19:03:15.340-08:00

With the Nifty nearing key support levels, a relief rally is on the cards now. As discussed yesterday, the Nifty consolidation was on throughout the session, with the Nifty unable to cross our resistance levels of 4630 and reached our targets of 4540. Today, given the global cues, the Nifty is likely to open with a positive gap up, and continue to rally throughout the session with some bouts of

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-78578586939162013232011-12-19T17:37:00.000-08:002011-12-19T17:37:59.967-08:00

Nifty all set to continue its consolidation before the next big move. As discussed yesterday, "Nifty is nearing key support levels, but Bears not ready to loosen their stranglehold. " the Nifty found supports at lower levels, and tried to rise. However, the bears did not allow it to close in the green and the Nifty had to close well below its previous close. Today, given the global cues, the

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-18677072525477636862011-12-18T18:05:00.000-08:002011-12-18T18:05:08.237-08:00

Nifty is nearing key support levels, but Bears not ready to loosen their stranglehold. On Friday, we had said "RBI monetary policy may stoke volatility in a already falling market."  and that is what was seen in the markets, with the Nifty traversing through 3 cents 4800 4700 and 4600, before closing at 4652. Today, given the global cues, Nifty is likely to open with a negative bias, but the

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-51542938571392133582011-12-15T17:57:00.000-08:002011-12-15T17:57:56.514-08:00

RBI monetary policy may stoke volatility in a already falling market. As discussed yesterday, the selling spree continued on the Nifty, but as it approached key support levels, we saw a bounce back, which again met with selling and was not able to cross our stop loss levels. Today, with the RBI announcing its monetary policy, the markets may see whipsawing volatility.  1) The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com1tag:blogger.com,1999:blog-7442528432686354837.post-51921300862225290982011-12-14T18:18:00.000-08:002011-12-14T18:18:09.038-08:00

Nifty likely to spiral downwards, but is approaching key support levels. As discussed yesterday, selling continued unabated in the markets, and the Nifty closed in the red at 4763 after hitting our resistance levels. Today, given the global cues, the Nifty is likely to open in the negative and is likely to touch its recent lows of around 4650, where buying might come in. 1) The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-78148947728202681602011-12-13T17:55:00.000-08:002011-12-13T17:55:17.222-08:00

Nifty may continue to slide down As discussed yesterday, the Nifty tried to retest the recent lows, before staging a bounce back in the last half an hour of trade. Even after that smart looking technical bounce back, the markets are still in the bearish control, and today, after a negative opening, selling is likely to continue unabated. 1) The Elder Ray readings : Bull Power reduces from -1

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-79155602935689562452011-12-12T18:02:00.000-08:002011-12-12T18:02:41.967-08:00

Nifty may test recent lows of 4650 today and stage a bounce back from there As discussed yesterday, it was sell on rise all through the trading session. Every time the Nifty tried to recover, it was punched down heavily by the Bears, and it closed near its low at 4765. Today, given the global cues, the Nifty is likely to open in the negative, and as said above, it is likely to retest its recent

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-16217174344719638042011-12-11T18:35:00.000-08:002011-12-11T18:35:24.514-08:00

Nifty likely to spike up, but will meet resistance regularly As discussed on Friday, the Nifty filled the down gaps and traded in the negative for almost the entire trading session. Today, given the global cues, the Nifty is likely to open with a positive gap up, but will most likely meet resistance at higher levels, and will try to test its recent lows. 1) The Elder Ray readings : Bull Power

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-29645996602471171242011-12-08T18:00:00.000-08:002011-12-08T18:00:55.901-08:00

Nifty may try to close the gap formed at 4850 4915 Two days ago, we had suggested that "a big move may just be round the corner"  and that move was set in yesterday's trade. We were fortunate to have foreseen that and were able to ride the fall, making sizable profits in the course. Today, the Nifty is likely to open with a negative gap and may move down to fill the gaps that were formed a few

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-22703761223884389972011-12-07T18:05:00.000-08:002011-12-07T18:05:57.602-08:00

Nifty likely to trade in a confined range yet again in a two way swinging market. As discussed yesterday, the Nifty continued its range-bound trade but maintained a positive bias. On the charts, the Nifty has yet again formed a "Doji" indicating indecision in the minds of market participants. This trend seems to continue today as well, giving a good chance for traders to earn in both swings. 1

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-72716148049789282172011-12-06T17:35:00.000-08:002011-12-06T17:35:26.718-08:00

Nifty may trade in a confined range with a positive bias. As discussed in our last post, the Nifty continued with its up-move amidst profit taking bouts. The same trend may continue for a few sessions from now on. However, a big move may just be round the corner, and we intend to be ready for that by waiting patiently and observing "No Trading" zones. A bit of technical analysis will clear our

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-17620212787824784652011-12-04T19:22:00.000-08:002011-12-04T19:22:17.376-08:00

Nifty may continue the up-move with some bouts of profit taking. As discussed in our last post, the two way move did not come out, and the nifty continued to rise unabated throughout the entire session on Friday, to close near its high. Today, given the global cues, the Nifty is expected to open flat and stay with a positive bias, with a few bouts of profit taking. 1) The Elder Ray readings :

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-29239674127309270912011-12-01T18:07:00.000-08:002011-12-01T18:07:59.521-08:00

Nifty may see-saw in a profitable range today. As discussed yesterday, the uptrend continued, with the Nifty opening with a big positive gap. However, as suggested, the Nifty hit the resistances and saw some amount of profit booking, thereby giving away most of the positive gap and closing way below the opening mark. Today, after a subdued opening, the Nifty is expected to swing in a good

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-85245894586317431062011-11-30T15:44:00.000-08:002011-11-30T15:44:01.294-08:00

Nifty may open with a big positive gap. But resistance not far away. As discussed in our last two posts, the expected up-move came in the Nifty and this up-move may now continue for a while. Today, the Nifty may open with a nice positive gap and may continue the rally towards the next destination of 4930. 1) The Elder Ray readings :  Bull Power reduces from -21 to -28 Bear Power increases from

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com1tag:blogger.com,1999:blog-7442528432686354837.post-78467515077952687582011-11-29T18:30:00.000-08:002011-11-29T18:30:14.998-08:00

Nifty is near key support levels and may stage a bounce back soon. Yesterday, we had mentioned that the up-move would continue for a while. However, the Bulls lacked the strength to stage any follow up buying and the Nifty could not sustain the positive opening, and took support at the key level of 4785, before closing at 4805. Today, the Nifty is likely to have a flattish opening, and we

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-74335618955040340282011-11-28T18:49:00.000-08:002011-11-28T18:49:31.420-08:00

Nifty is in a bounce back mode, but supply zone nearing. We are resuming our trading after a 2 session gap today. The Bulls in the mean time have staged a surprise comeback, as the bears have taken a back seat. Will the bulls be able to follow up? or will the bears strike back. Some technical analysis will clear the smoke. 1) The Elder Ray readings : Bull Power increases from -142 to -42. Bear

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-60444047227023462232011-11-24T18:42:00.000-08:002011-11-24T18:42:41.307-08:00

Bears still driving the markets, despite a positive close yesterday. As discussed yesterday, the expiry jitters were felt throughout the trading session, before the Nifty recovered due to some short covering in the late trade, to close in the positive zone. Given the global cues today, the Nifty is likely to open with a negative bias. Technical indications show that the Bears still hold their

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-19858236330114573142011-11-23T19:44:00.000-08:002011-11-23T19:44:11.294-08:00

Nifty downtrend to continue for a while. As discussed in our posts off late, the downtrend on the Nifty continues unabated. However, given that today is expiry day for the current series, the Nifty might be volatile. Also to be noted, is that the technicals are showing no signs of the downtrend losing its steam as yet. 1) The Elder Ray readings : Bull Power reduces from -164 to -194. Bear

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-79487605240760932692011-11-22T18:57:00.000-08:002011-11-22T18:57:34.304-08:00

Nifty to remain volatile with a downward bias Due to a family marriage, we will not be trading for the day, and hence, we will not be presenting our trading plan for the day. However, our view of downward bias continues. For the day, the Nifty has a support at 4720 and a resistance at 4835. We will be back on the terminals tomorrow onwards.  For cash market recommendations see our Daily

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-61832437854034401482011-11-21T19:14:00.000-08:002011-11-21T19:15:00.961-08:00

Nifty may see a shortcovering bout. But selling pressure would resume soon. As discussed yesterday, the whipsaw prior to expiry has started. The downtrend in the Nifty may now see some increase in volatility amidst short covering rallies prior to expiry. However, the overall trend still remains downwards and the technicals are still refusing to indicate any trend reversal. 1) The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-52277171359282360862011-11-20T18:21:00.000-08:002011-11-20T18:21:15.432-08:00

Volatility may see a marked increase. But selling pressure to continue on the Nifty As discussed on Friday, the Nifty continued to witness selling pressure throughout the trading session, before marching a bounce-back towards the end. However, the Nifty could not cross the previous day's close and ended in the red despite desperate efforts by the Bulls. Today, given the global cues, the Nifty

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-82548386375783776392011-11-19T05:11:00.000-08:002011-11-19T05:11:25.361-08:00

Nifty Weekly Review Right at the start of the week, on 14th Nov 2011, our head line read "Fresh, clear & sustainable Sell signal emerges". And what a week we had after that. During the week, the Nifty lost 263 points. The high of the week 5229 and the low 4838 had a range of about 590 points between them, showing how accurate our reading of the technical charts was. During the week, we also had

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-17400030670585933182011-11-17T18:43:00.000-08:002011-11-17T18:43:11.966-08:00

Nifty may try to stage a small bounce-back, but selling pressure will resume. As discussed yesterday, the Bearish Stranglehold tightened over the nifty, and the Nifty nosedived to 4919 before closing at 4935. Today, given the global cues, the Nifty is likely to open even more in negative. The technicals, as of now, are not giving out any trend reversal signals. Hence, although some traders and

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-20149383313450979002011-11-16T19:14:00.000-08:002011-11-16T19:15:31.805-08:00

Nifty to trade in a range with negative bias As discussed yesterday, the Nifty opened almost flat, and tried at least 3 times during the day to rally and come in the positive, but every rally got sold off and the Nifty closed in the negative at 5030. Today, again, given the global cues, the Nifty is likely to open lower. 1) The Elder Ray readings : Bull Power reduces from -25 to -97 Bear Power

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-46022954954899677912011-11-15T17:59:00.000-08:002011-11-15T17:59:44.007-08:00

Sell on Rally is the mantra for the time being. As discussed yesterday, the Nifty opened gap down and stayed down for most of the trading session, before closing at our suggested support levels of 5070. The Nifty showed a high of 5159, which again was our suggested level for opening fresh shorts. Today, the Nifty is likely to open flat, and then some short covering can be expected. However, "

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-2337443485323293282011-11-14T17:06:00.000-08:002011-11-14T17:06:58.979-08:00

Bearishness may slow down a bit, but Nifty may stay down yet.   As discussed yesterday, the Nifty responded well to the freshly generated sell signal, and even after a positive opening, Nifty found resistance at 5230 and nosedived to 5140 by the end of the trading session, before closing at 5148. Today, given the global cues, the Nifty is likely to have a subdued opening.  1) The Elder Ray

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-28797905855063348692011-11-13T17:57:00.000-08:002011-11-13T17:57:25.684-08:00

Nifty all set to nose dive and re-test the recent lows As discussed in our last post, immediate major fall unlikely, the Nifty opened 60 points down at 5160 but never really looked like collapsing, and eventually closed at 5169. Today, given the global cues, the Nifty is likely to open with a positive gap. However, during the Friday's trade, the technicals have generated a fresh, clear and

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-20179639284471589742011-11-10T18:25:00.000-08:002011-11-10T18:25:00.737-08:00

Nifty may try a bounce back today. As discussed in our last post, the Nifty traded in a narrow range for major part of the trading session on Wednesday, before the bearishness crept in and took it straight to 5212 where it found some support, before closing at 5221. Today, given the global cues, the Nifty is likely to have a subdued opening, but may attract some buying at lower levels. Although

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-82903838636275905272011-11-08T18:18:00.000-08:002011-11-08T18:18:46.103-08:00

Markets will be range bound for a while now As discussed yesterday, there was a repeat performance on the Nifty with the markets trading well within the range established on Friday. Today, given the positive global cues, the Nifty is likely to open with a positive gap. But, yet again, will this positive opening be sustained? or will the Bears try their strength? A bit of technical analysis will

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-43509372977164552522011-11-07T19:44:00.000-08:002011-11-07T19:44:03.364-08:00

Nifty may again open with a unsustainable up gap only to close in the Red As discussed on Friday, the Nifty opened with a positive gap that was never sustained during the entire trading day. After opening at 5326, the Nifty traded below that mark for the entire day, before closing at 5284. Today again a repeat performance is expected, and hence, Friday's trading plans are what we will trade on

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-13326925605573000072011-11-06T17:35:00.000-08:002011-11-06T17:35:44.906-08:00

Nifty Weekly Review The Nifty ended the week on a weak note losing 77 points against the previous weekly close. This was in stark contrast to the 311 points gain during the week before last. Earlier this week, we had indicated that the Nifty was in an overbought zone and that the downtrend would continue. The markets did oblige and we were able to book good profits riding the volatility. The

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-4075289973441124392011-11-03T19:41:00.000-07:002011-11-03T19:41:16.198-07:00

Use today's gap up opening to book profits and create new short positions. As discussed yesterday, the Nifty traded in a tight range and found support at 5200 with a sharp bounce back to 5266. Today, given the global cues, the Nifty is likely to open with a large gap up. As seen in recent past, up gaps can continue to remain unstable and get filled soon. We will be on look out for shorting

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-79047243078863844532011-11-02T19:19:00.000-07:002011-11-02T19:19:30.235-07:00

Range bound Nifty with depleting volumes needs to be traded cautiously.  As discussed yesterday, the downtrend in the Nifty continued, and the Nifty took support just below our indicated levels and found resistance at our indicated levels too. The Nifty traded between 5205 and 5300 before closing at 5258 which was our first resistance as indicated yesterday. For today, again the same range will

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-31389986422357644722011-11-01T19:32:00.000-07:002011-11-01T19:32:31.775-07:00

Nifty may synchronize with the global turmoil and resume its downtrend As discussed yesterday, the Nifty opened below 5320 and then tried to fill the gaps till 5220 showing a low of 5238 before shutting shop at 5258. Today, again given the global cues, the Nifty is likely to open with a gap down and likely to test the supports at 5210 and 5175. On the up side, the first resistance will be at

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-2317039095906429622011-10-31T19:21:00.000-07:002011-10-31T19:21:06.763-07:00

Nifty may fill recent gaps between 5320 and 5220 As discussed yesterday, the Nifty was in the overbought zone and remained under pressure throughout the trading session. Today, given the global cues, the Nifty is likely to open below 5320 and may try to fill the gap till 5220.  1) The Elder Ray readings : Bull Power reduced from +272 to +204 Bear Power increased from +195 to +159. Indicating

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-39683981683882918122011-10-30T19:39:00.000-07:002011-10-30T19:39:03.641-07:00

Nifty has come up too far too fast. A correction in the offing ? As discussed in our last post, the Nifty successfully closed the gap between 5220 and 5320 and traded well above those values to close at 5361 before showing a high of 5400. While doing so, it has now come up too far too fast. Not only that, the same gap which was left in the downward journey, is still left open in the upward

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-52493006926574806532011-10-27T19:26:00.000-07:002011-10-27T19:26:21.148-07:00

Nifty ready to break the range on the upside As discussed in our last post, the RBI played the role of the trend decider. Also we had earlier suggested that the Nifty's trading range is all set to widen which is being witnessed now. Having said that, it would be better to gauge upto what extent the Nifty can grow unheeded, and a little bit of technical analysis would be the order of the day. 1

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-49597124780353207532011-10-24T19:53:00.000-07:002011-10-24T19:53:40.938-07:00

Series expiry pegged on global cues and local news As discussed yesterday, the Nifty opened with a good gap up but could not retain the gains and closed well below the opening mark. Clearly, the Nifty danced to the global cues. Today, with the RBI ready to announce its monetary review and policy going forward, amidst rising inflation and slowing growth, it could be another day of free fall

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-68203941307159175892011-10-23T19:18:00.000-07:002011-10-23T19:18:34.349-07:00

Nifty may open gap up but may find difficult to retain the gains As discussed on Friday, the Nifty continued with its downturn exhibiting range-bound volatility. After opening with a up gap at 5107, the Nifty could not cross the wall of worry and started its downtrend again from 5121 to 5038 before closing at 5050. Today, given the global cues, the Nifty is likely to open with a nice gap up of

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-47801209694618633912011-10-23T07:31:00.000-07:002011-10-23T07:31:18.076-07:00

Nifty Weekly Review The Nifty closed the week with a loss of 82 points as compared to the gain of 244 points in the week previous to that. During the week, the Nifty met resistance at 5150 levels and found support at 5000 levels. Also there were multiple gap up and gap down openings during the week. The volatility was high yet range bound, with no clear trend being set. Also the overall medium

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-18100038520984855532011-10-20T19:13:00.000-07:002011-10-20T19:13:48.651-07:00

Nifty dancing to global tunes amidst local turmoil As discussed yesterday, the wall of worry is still a big roadblock in the up-move for the Nifty. Yesterday, after a subdued opening and a even subdued trading session, the Nifty recovered in the second half to close just around its opening mark. Yet again, there was seen a lack of follow up on the part of the Bears, allowing the Bulls to

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-72585591056455047792011-10-19T18:51:00.000-07:002011-10-19T18:51:41.491-07:00

Watch out for 5170 5220 range In our post two day's ago, we said use the gap down as an opportunity to go long. That strategy is now yielding good results, as the Nifty seems to be ready to cross the wall of worry that stands in the range of 5170 to 5220. Having said that, the Nifty has in the past few weeks, failed to cross this wall and has gone back to test its recent lows at least 4 times.

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-18836320233232421282011-10-18T19:02:00.000-07:002011-10-18T19:02:26.409-07:00

Profit booking post positive opening on the cards As discussed yesterday, the opportunity to go long using the negative opening could prove correct with the positive opening that is expected today. But as said in our earlier posts, it will require a good follow up by either the Bulls or the Bears to set a trend. Currently, Nifty is on a tricky wicket, and could start a slide any time. 1) The

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-88546351299788703312011-10-17T19:02:00.000-07:002011-10-17T19:02:08.716-07:00

Negative opening and range bound trading expected today As discussed yesterday, it proved to be a good opportunity to risk short selling. With today's expected negative opening, mostly due to global cues, this opportunity might seem to be worth holding on and carrying forward. However, the technicals need to confirm this. So let's get on with the technical analysis. 1) The Elder Ray readings :

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-13206372041430259722011-10-16T15:28:00.000-07:002011-10-16T15:28:27.074-07:00

Nifty dangerously close to near term resistance As discussed on Friday, the Bulls demonstrated their control over the Nifty, but could not take it past the near term resistance of 5170 and were forced to shut shop at 5132 with a gain of 54 points over the previous close. Today, we are likely to have a positive to flat opening, and Nifty could struggle a bit at levels near to 5200. A closer

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-84276708771487203502011-10-16T07:12:00.000-07:002011-10-16T07:12:50.789-07:00

Nifty Weekly Review The Nifty ended the week on 14th Oct 2011 with a hefty gain of 244 points over the last weekly close. This was a really nice comeback on the back drop of a 55 point loss during the previous week. Earlier in the week, we did indicate that the Bulls were on the roll and that the positive bias would continue. The markets did oblige.  The trading range of the Nifty during the

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-41396929969079433642011-10-13T19:36:00.000-07:002011-10-13T19:36:07.821-07:00

Do not discount the Bulls yet As discussed yesterday, the Nifty found itself close to the top end of its trading range and as expected, some profit booking came in. The Nifty halted its progress at 5137 before shutting shop at 5078. The technicals indicate that, in spite of yesterday's mild correction,  the Bull run cannot be discounted yet, and a further rally could be expected in the next few

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-13275859061246305392011-10-12T18:48:00.000-07:002011-10-12T18:48:36.823-07:00

5170 a key level on the Nifty As discussed in our last two posts, the Bulls have been on the roll, and the positive bias continued during the entire trading session yesterday. The Nifty, once it traded above the key resistance of 5040, shot up and ended at 5099 after showing a day high of 5110. Now, one has to watch out how the Nifty reacts to 5170 which has been a key resistance point during

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-81042773781006290912011-10-11T20:16:00.000-07:002011-10-11T20:16:11.550-07:00

Nifty might trade in a tight range with a positive bias As discussed yesterday, the Nifty found resistance at 5040 levels and ended mildly in the red at 4974. Even with positive global cues and with a good positive opening, the Nifty was not able to sustain intermediate resistance, and profit booking was seen ahead of the results season. Today, the Nifty is likely to trade in a tight range,

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-84646316638441882542011-10-10T19:34:00.000-07:002011-10-10T19:34:38.926-07:00

Bullish trend to continue for now In yesterday's post, we had mentioned that the Nifty can demonstrate a bullish trend, citing the stochastics in the oversold zone. The Nifty did close at 4980 which was our resistance for yesterday. Today, however, riding on global cues, the Nifty is likely to open with a large gap up opening. It is also possible that the Nifty may test the higher end of the

ITradeForProfit Dailyhttps://profiles.google.com/116617132861681096444noreply@blogger.com0tag:blogger.com,1999:blog-7442528432686354837.post-2506291215567542432011-10-09T19:18:00.000-07:002011-10-09T19:18:09.740-07:00

Nifty to consolidate in a narrow range today. As discussed on Friday, the Nifty opened with a positive gap up at 4884 but found resistance at 4925 and retreated back to close at 4888. Today, the Nifty is likely to be range bound as it is poised right between its near term supports and resistances. Also as we approach the results season, there is some amount of anxiety reflecting in the Nifty

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