Nifty Views from NiftyPower

[NiftyPower]

13 Aug - Nifty View

Nifty opened the week up last week, giving a breakout on Tuesday, and then mainly consolidated in a narrow range. The medium term is going to be positive till the Recent Low of 5000 is protected by the Bulls. However, one thing that stands out from last week is the Low Volumes, that followed after the breakout move on Tuesday. Nifty has another strong resistance zone at 5370 to 5395 coming up, and unless and until there is Fresh Buying, the upmove will be in danger. On the downside, the immediate support is going to be the 5280/5260 and then 5220 level, which is the Gap support for this breakout. The short term trend is going to remain positive above this zone. Hence, positional traders can wait for a breakout from the zone of 5260-5390, before taking a Full position. Also remember that next week and after that will be holiday truncated week. Hence, the trend of Low volumes is expected to continue till then end of month.

The Nifty Option OI Charts are given below:

On the Options front, there was little activity on Friday, except for a small addition of 6 lacs+ at 5200 PE by the Bulls. Overall, the Charts also show the tussle between the levels of 5300 and 5400 between the Bulls and the Bears. 5000 stands as the biggest support for Nifty. The Bulls are building support from 5100 to 5300 strikes, where as the Bears are building resistances at 5400 and 5500 strikes. The Option Charts suggests that the Option writers also expect a rangebound move in Nifty in the coming days.

For Monday, immediate resistance for Nifty Spot comes around 5350 level. Above this, it will again try to test recent high near 5375 and then 5400 level. As given earlier, a move above 5390/5400 can attract Fresh Buying, which can lead to another small rally in Nifty. On the downside, immediate support for Nifty Spot comes at 5305/5295 levels. Staying below this, the Bears will try to take it down towards 5280 and 5260 levels. Below 5260, the short term trend will turn negative.

13 Aug - Nifty Spot resistance at 5350-5390-5405-5445. Support at 5300-5280-5260-5220

 

[a1b1trader]

A very good and clear cut analysis of Nifty Future.
Thanks for the same.
Hope you will post the analysis on daily basis.
Thanks

 

[NiftyPower]

16 Aug – Nifty View

On Tuesday, Nifty gave a small breakout above the recent highs, and closed just above it, to keep both the Bulls and the Bears in suspense during the shortened week. As long as Nifty Spot maintains this level of 5380 now, the short term trend should be considered up, and Positional Longs should be opened. There are two more days left in this week, which will provide further clarity on the breakout trade. There are few level to watch out if Nifty is unable to maintain above 5380. First is around 5345 Nifty Spot, which is a horizontal support. Any declines towards this level should be treated as normal and can be a good opportunity to add positions to the Long trade. Below that, next important level is around 5295 Spot, which is the recent low. A close below this level can take Nifty to close the gap zone at 5260-5215. Hence, we will treat 5295 as the trend deciding level as of now, which will be revised after looking at the next two days movement in Nifty.

The Nifty Option OI Charts are given below:

On the Options front, the Bears added a good quantity of 16 lacs+ OI at 5300 PE and 5400 PE strikes. On the other hand, the Bulls added a small quantity of 8 lacs+ OI at 5500 CE and 5600 CE strikes. Overall, the Option charts are also turning slightly Bullish along with the movement in Nifty. Strong resistance has shifted from 5400 to 5500, as there has been covering in 5400 CE by the Bears, and at the same time, addition at 5400 PE by the Bulls. Also, 5300 has now become a strong support level, with more than 80 lacs+ open interest at 5300 PE strike.

For Thursday, immediate resistance for Nifty Spot comes at 5380/5390 levels. Staying above this, the Bulls will have an upper hand, and will try to take Nifty toards higher level resistances of 5405/5445. On the downside, support for Nifty Spot comes at 5345/5350 level. As given earlier, any declines towards these levels should be treated as a good buying opportunity. Below this, the Bears will try to push it lower to test support levels of 5320 and 5295. A close below 5295 will change the Short term trend from Up to Down.

16 Aug – Nifty Spot resistance at 5385-5405-5445-5490. Support at 5345-5320-5295-5260

 

[NiftyPower]

21 Aug - Nifty View

Nifty enters in a shortened expiry week, after having a Doji day on Friday. Doji's are generally indicative of indecision among the traders, and are considered as trend reversal patterns. A move outside at range of the Doji can lead to a breakout/ breakdown, with good momentum. Hence, it is also a good time to buy Option Straddles. On Firday, Nifty declined to take support near our reference level of 5345 Spot (actual low 5341), and closed around 5367 level. It also made the high point of this rally at 5399 level. Next week may well turn out to be a short term trend deciding level, when Nifty moves to close out of this range of 5340/5320 to 5380/5400. Positional traders who are Long can now keep a Stop and Reverse at 5320 Nifty Spot level.


The Nifty Option OI Charts are given below:

On te Options front, the Bulls added a small quantity of 12 lacs+ OI at 5300 PE and 5400 PE strikes, while covered 5 lacs+ OI at 5100 PE strike. On te other hand, the Bears did little action at the end of the day, which is surprising given the kind of fall Nifty had in the morning. Overall, 5300 remains the immediate string support for Nifty, while 5500 is an an equally strong resistance, having 90 lacs+ OI. 5400 is the 50:50 level between the Bulls and the Bears.

For Monday, immediate resistance for Nifty Spot comes at 5375/5380 levels. Above this, it will head for Friday's high of 5400. Sustaining above 5400/5405 can lead to some panic covering from the Bears, which can take Nifty to higher levels of 5445 and 5490. On the downside, support for Nifty Spot comes at 5345/5340 levels. Below this, it will slide to enter the recent low and support zone of 5330/5320. Below 5320, the Bears will have an upper hand, and they can Nifty further down towards 5295 and 5260 levels.

21 Aug - Nifty Spot resistance at 5375-5405-5445-5490. Support at 5345-5325-5295-5260

 

[NiftyPower]

27 Aug - Nifty View

Nifty enters into the Expiry week, crucially poised in the Short term. Last week, it held on to its support levels at 5365/5370 Spot, despite some negative global cues. It has closed near the 5390 Spot level, which is very close to the short term trend deciding levels of 5345/5370. Nifty movement in the Expiry week, and how well it defends these levels will give clues for the strength of this rally. As of now, Positional traders have to be Long with a Stop and Reverse around 5340/5345 Nifty Spot.

The Nifty Option OI Charts are given below:

On the Options front, the Bulls covered a huge amount of 25 lacs+ OI at 5400 PE and 5500 PE strikes. The Bears also covered a smaller amount of 7 lacs+ at 5400 CE strike. Going into the Expiry week, the Option Charts are well defined. 5300 and 5500 are the well defined and major resistances, with open interest in 5300 PE and 5500 CE crossing 1 Crore each. 5400 is the clear 50:50 level between the Bulls and the Bears, with almost equal open interest at 5400 CE and 5400 PE strikes.

For Monday, immediate resistance for Nifty Spot comes at 5400 and 5415 levels. Staying above this, the Bulls will re-attempt higher level resistances of 5445 and 5490. On the downside, support for Nifty Spot comes ta 5370 and 5345 levels. Below 5345, the short term trend will turn negative, and the Bears will drag Nifty down towards 5320 and 5295 levels.

27 Aug - Nifty Spot resistance at 5400-5415-5445-5490. Support at 5370-5345-5320-5295

 

[NiftyPower]

29 Aug - Nifty View

On Tuesday, two days before Expiry of the August series, Nifty has closed below a crucial support level of 5340/5345 Spot. With this, the short term trend can be considered to have turned down. The oscillators are also now in overbought position and point to a pending downward move. However, the downward momentum was missing after the break of 5345, and it will be prudent for Positional Traders to initiate short positions in stages - some part now, and some part on further break and close below 5290 Spot. The trend is down and long positions should be avoided till Nifty gives a close above 5415/5430 as of now. The levels to watch in between will be 5345 and 5380/5385 Spot. If Nifty does not give a follow through movement below 5345, and infact, is able to move above 5345/5385, then this Expiry will be a rangebound one. A move above 5415, on the other hand, will make this downmove a false breakdown and a shake out move for the Bears. Such a move usually brings a fierce move in the opposite direction. However, we will think about it when such move comes. As of now, the trend is down, and that is what should be the direction of trades.

The Nifty Option OI Charts are given below:

On the Options front, not much is expected so close to the Expiry. However, there was a surprisingly high addition of 10 lacs+ OI at 5200 PE by the Bulls and an even more surprisingly high 18 lacs+ OI at 5400 CE by the Bears. 5300 to 5500 has been the range for this month as per the Option charts. Two days before Expiry, the Option seem to want to shift this range down. Overall, the Option charts indicate supports at 5300 and below levels, while resistances at 5400 and above levels. Looking at the Option charts, it looks like the Option writers are betting on an expiry between 5300 and 5400 for Nifty. Any move beyond this range, and we can see some panic from the losing camp.

For Wednesday, immediate resistance for Nifty Spot now comes at 5340/5345 Spot. Above this, the Bulls will try and take it higher towards 5380, 5400 and 5420 levels, where again some selling pressure is expected. On the downside, support for Nifty Spot comes around 5320/5315 levels. Below this, the Bears will try to push it towards its support level of 5295 and 5260 spot. Below 5260, Gap filling till 5215 level can occur.

29 Aug - Nifty Spot resistance at 5345-5380-5400-5420. Support at 5315-5295-5260-5215

 

[NiftyPower]

3rd September - Nifty View

On Friday, Nifty closed right at its Gap support near 5260 Spot level. This was the level where Nifty opened on 6th August, after closing at 5220 on the previous day. Now after it has entered the gap zone, it should ideally close this gap, before any upward movement resumes. The short term trend remains down, and rise should be considered as a selling opportunity as of now. On the upside, 5230 and 5345 Spot will be tough resistances for Nifty, and should be Stoploss and Reverse levels for Positional Shorts, as of now.

The Nifty Option OI Charts are given below:

It was the first day of the series, and as expected, a lot of open interest was added both from the Bulls and the Bears. The Bulls added 30 lacs+ OI from 4900 PE to 5100 PE strikes, whereas the Bears added 36 lacs+ OI from 5400 CE to 5600 CE strike. From the first day of the series, 5400 and 5000 seems t be two levels of interest to the option wirters. Also, the overall options charts have developed a nice narrow range of 5300 to 5400, with 5300 as the 50:50 level. As of now, 5400 and above looks like strong resistance levels for Nifty, and probability of a downmove looks more prominent than an upside breakout.

For tomorrow, immediate resistance for Nifty Spot comes at 5275/5280. Staying above this, Nifty Spot will target higher level resistances of 5300 and 5320, where agai it is expected to meet some selling pressure. On the downside, support for Nifty Spot comes at 5250/5255 level. Below this, chances are high that Nifty can slide to close the gap till 5220 level at least.

3 Sep - Nifty Spot resistance at 5275-5300-5320-5345. Support at 5250-5220-5190-5150

 

[NiftyPower]

4 Sep - Nifty View

On Monday, Nifty opened up on positive global cues, but declined during the day to close near Friday's closing level. Once again, it closed below the Gap open of 8th August. Technically, it should decline now to close the Gap that it formed on 8th August. However, the downward momentum has been missing till now. The trend will considered down till it trades below 5345 Spot level, and any rise till that should be used to build short positions. 5345 Spot should also be the stoploss for any New shorts being built at this stage. On the downside, below 5260, a decline towards 5220 and 5150 can materialize.

The Nifty Option OI Charts are given below:

On the Options front, there was a lot of trading activity today also. The Bulls added 27 lacs+ OI from 4900 PE to 5200 PE strike. The Bears also added 29 lacs+ OI from 5300 CE to 5600 CE strike. Overall, from the Option charts, 5200 is again emerging as the strong support for Nifty. Below this, 5000 is the next strong support. On the upside, 5400 and above are emerging as the strong resistances. 5300 is the 50:50 level between the Bulls and the Bears as of now. The options charts also given a sense of Bearishness as of now. We have to see whether this picture changes going forward.

For tomorrow, immediate resistance for Nifty Spot comes at 5255/5260 level. Staying above this, it will head for its resistance levels at 5280 and 5295 levels, where again selling pressure is expected to come. Above 5290, 5330 and 5345 are also strong resistance levels, and short term trend deciding levels for Nifty. If Nifty goes above 5345, the outlook will turn positive and Positional longs can be opened. On the downside, support for Nifty Spot comes at 5220 level. It is the Gap support and if Nifty declines below this, it can head for 550, with minor support at 5190 and 5170 levels.

4 Sep - Nifty Spot resistance at 5260-5280-5295-5330. Support at 5220-5190-5170-5150

 

[NiftyPower]

6 Sep - Nifty View

On Wednesday, Nifty opened down on negative global cues, and finally closed the Gap that was formed on 8th August. With this, it completed the first target of Positional Shorts, which was given in earlier Nifty Views. Also, it has closed below an important support of 50 DMA. Now, those in Positional Shorts can keep this level of 50DMA, around 5250/5260 Spot as their stoploss on Closing Basis. On the downside, 5220/5190 is the immediate support zone, and if the Bears manage to break it, then a move towards 5150 Spot should come easily.

The Nifty Option OI Charts are given below:

On the Options front, the Bears were active today. They added 12 lacs+ OI at 5300 CE strike, and 10 lacs+ OI at 5500 CE strike. There was not much more addition at the other strikes by either the Bulls or the Bears. Overall, the Options charts present the same picture as given before. 5300 is the 50:50 level, 5400 and above are the resistances, while 5200 and 5000 are the major supports.

For tomorrow, immediate rsistance for Nifty Spot comes at 5255/5260 levels. Staying above this, the Bulls can hope for some short covering till 5280/5300 levels. Above 5300, a retest of strong resistance zone at 5345/5350 can materialize. On the downside, support for Nifty Spot comes around 5220 level. Below this, the Bears will continue to have an upper hand, and they can take Nifty down towards 5190 and 5150 levels.

6 Sep - Nifty Spot resistance at 5255-5280-5300-5320. Support at 5220-5190-5150-5130

 

[thahir.nm]

Hi NiftyPower,

Why no updates

Regards,

Thahir