Incisive Nifty Trend Analysis

[Rish]

USD is trying to take support on Mid Band on Weekly chart i.e.60.97......

Also, if Volatility index takes support near 14.61, then market may reverse from that point.

Let us watch.....................

 

[sanjeev258380]

Rish ur call still remembered...go long with sl of usd 64.8

 

[Rish]

Rish ur call still remembered...go long with sl of usd 64.8

Nifty long on 10th September, keeping USD s/l 64.80..............

Not USD INR......Long.........

 

[prada]

Hi, bank nifty is yet to gather momentum seen in the benchmark indices. Going forward, I expect bank nifty to start outperforming Nifty. To begin with, my initial targets for bank nifty would be 11800-12000 area. Bank Nifty needs to cross this congestion zone decisively to put it on an overdrive mode. This will eventually happen. I am personally quite bullish on select banking stocks. My personal favorites going into 2014- Yes bank, PNB , Can bank, Tata steel, Reliance Capital, REC, Bhel ...

PRADA!!!
My god, man......spelling out a target of 1000 points within 3 months, really takes some guts.
I too am bullish on the markets......particularly CNX 500 stocks (the small caps). According to me, they will give a major move in the years 2014-2016. I have put in all of my savings for the upcoming bull market. I am a portfolio based trader (meaning I buy 10 relatively strong stocks and hold on, till the conditions satisfy me holding them). And right now I am pretty confident that they will give me pretty good returns over the 3 years.
I don't trade the indices that much. But I have been following you.......
So, if you see Nifty at 7000+ levels by January, where do you see the Bank Nifty going? I know you said that it will start participating in the rally, but would be nice if you could give us a level.
Cheers!

 

[prada]

Nifty update for positional traders: Move your stoploss to 6120 on closing basis and hold onto your longs. Resistances- 6270-6305-6338-6365-6420. Although, we are quite overbought at the moment, the trend remains to be strongly on the upside. Do not short the index blindly, unless clear signals emerge.

PraDa

 

[prada]

Hi, Yes it was disappointing, but as I had said in my morning post, Nifty looked quite overbought on the dailies and this correction augers well for the market. In any case 6110-6120 on closing basis should be the trailing stop. The level I would watch for a failure is 5950 which is still quite far away and I dont expect market to fall below 6000 in this correction. The trend still remains on the upside and there is still plenty of steam left in this rally. This correction provides an excellent entry point for those who have missed this rally.

PraDa

Today's fall was really disappointing. Prada, breach of what level would prompt you to say that the Bull rally has failed/over?

 

[essem]

I am not expert in direction but I used to calculate Based on the OI of Call/PUT and VIX current participation of Call/put level is very high.
at this stage most big players may write call/put including next month contract as market will never move up or down with such call/put participation

 

[DSM]

@ PraDa, Are you taking this as a swing trade? Or do you have different trades - one positionally and the other a swing.? Asking this as your SL is quite close and have seen you trade positionally with large SL. Thanks.

Hi, Yes it was disappointing, but as I had said in my morning post, Nifty looked quite overbought on the dailies and this correction augers well for the market. In any case 6110-6120 on closing basis should be the trailing stop. The level I would watch for a failure is 5950 which is still quite far away and I dont expect market to fall below 6000 in this correction. The trend still remains on the upside and there is still plenty of steam left in this rally. This correction provides an excellent entry point for those who have missed this rally.

PraDa

 

[prada]

DSM, I hold long positions in Bank Nifty, 10720 will be the SL for this. However I will exit Nifty long position once my trailing SL is hit since I hold positions from 5800 and will wait for the index to cool off a bit before re-entering. If there is a bounce back from here, which cannot be ruled out, then I will ride the rally trailing the SL further.

@ PraDa, Are you taking this as a swing trade? Or do you have different trades - one positionally and the other a swing.? Asking this as your SL is quite close and have seen you trade positionally with large SL. Thanks.

 

[sridhar]

Hi, Yes it was disappointing, but as I had said in my morning post, Nifty looked quite overbought on the dailies and this correction augers well for the market. In any case 6110-6120 on closing basis should be the trailing stop. The level I would watch for a failure is 5950 which is still quite far away and I dont expect market to fall below 6000 in this correction. The trend still remains on the upside and there is still plenty of steam left in this rally. This correction provides an excellent entry point for those who have missed this rally.

PraDa

Are the levels for Nifty or Nifty Futures(1st. Month)?