Opening Bell for 31/01/2013

Good Morning !! January series is one of the longest series which is coming to an end today. We expect a lot of volatility today as it is month end too. Today's strategy should be sell the rise. 6085 is difficult zone as of now. One should try selling NIFTY between 6075-6085 with SL of 6105 for target of 6050/6030/6010/5990

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Wish you happy trading !!

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Opening Bell for 30/01/2013

Good Morning !! Yesterday due to profit booking NIFTY could not sustain at higher level and closed below 6050. Today we may see some pull back towards 6080-6085 level from where we may see profit booking again. Fresh buying can be seen only above 6100.

As NIFTY is approaching close to expiry of this series, it may remain volatile. Traders are suggested to trade according to levels only and we are expecting a range between 6000 to 6100.

Wish you happy trading.

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Opening Bell for 29/01/2013

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Nifty may open flat to negative. Due to important policy declaration of RBI, NIFTY may remain volatile. 6095 should be watch out. Breaking that level, NIFTY may make new high and DAY CLOSING above 6105 may create trading range. On the other hand, trading below 6045 NIFTY may come down substantially and DAY CLOSING below 5990 may give reversal of current trend.

Formation of last two day's candle stick pattern may evolve as EVENING STAR pattern, which is bearish. Invalidation level is 6101.

Wish you happy trading !!!

Opening Bell for 28/01/2013

Good Morning !! NIFTY may open flat to positive. 6090-6095 is important zone of resistance. Above that level, It may go up to 6120/6145 whereas failure to sustain above that level it may go down to 6050/6035.

Buy NIFTY above 6095 SL 6075 target 6120/6145

Sell NIFTY below 6070 SL 6090 target 6050/6035

Wish you Happy trading !!

VOLTAS - A good stock to buy

Simple charts of VOLTAS shows, it is good time to buy the stocks.  Reasons :-

1. Oversold indicators both daily and weekly
2. Hammer on daily and weekly chart which is good enough reversal indicator
3. Took support at 61.8 % retracement level at weekly chart

Daily Chart 

Weekly Chart

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Opening Bell for 24/01/2013

Good Morning !! NIFTY may open flat to positive.

If we look closely at daily chart, it is clear that yesterday NIFTY took support at lower line of rising wedge. There may be possibility of pullback from that level. 6040 is the level to watch. Below that level, NIFTY may come down and above that level NIFTY may go up.

Possible trade setup:

Buy NIFTY above 6040 SL 6020 target 6065/6080
Sell NIFTY below (around) 6040 SL 6060 target 6020/6005/5990

NP-SAR for the day: 6045

Wish you happy trading !!!

ITC

Those are holding ITC may book full profit at 296.50.

Opening Bell for 24/01/2013

Good Morning !! NIFTY may open flat to negative. It may remain volatile with narrow range of 30-40 points throughout the day. Below 6020, NIFTY may come down to 5990/5975; on the other hand, above 6060 it may move up to 6080/6095.

NP-SAR for 24/01/2013: 6050 

Wish you happy trading !!

Are we heading towards 55XX ?

Today NIFTY moved exactly as per our opening bell. It sold out below 6080 to hit second target at 6045 then long from 6040 also did 20 points. 

Now what next in NIFTY?

To analyse this we need to take some simple things in our consideration.

A] A closer look at the daily chart indicates -

i) NIFTY has lost its pace of movement in upper side and it is selling out at high although we are able to see new highs every alternate day.

ii) NIFTY has broken out of developing rising wedge only to fall at upper boundary of it.

iii) NIFTY is at the climax of the rising wedge with developing negative divergence.

B]  A closer look at the weekly chart indicates -

i) NIFTY is rising with RSI falling. A negative weekly close will confirm negative divergence in weekly chart also.

ii) CCI, MACD, STOCHASTIC all are at overbought territory for quite some time.

iii) It appears from weekly chart that NIFTY is forming BEARISH BAT chart pattern.

C] A closer look at 30 min chart indicates that NIFTY is oversold and it may correct today's fall.

In a nutshell, NIFTY is near to its current high (if not made today itself) and a decent fall is awaiting until 6150 is taken out COMFORTABLY (weekly closing).

Happy Trading

Opening Bell for 22/01/2013

Good Morning !! NIFTY may open flat to negative. Trading below 6090 may invite some profit booking in NIFTY and we may see 6065/6045 in lower side. As per OI, 6000 level is decent support so, one may buy the dip for positional gains.

Sell NIFTY below 6080 SL 6095 target 6065/6045

Buy NIFTY around 6040 SL 6025 target 6070/6090/6120

On the other hand, if NIFTY sustains above 6095 then we may see 6120/6140 levels in it.

NP-SAR OF 22/01/2013: 6041

Wish you happy trading !!

Opening bell for 21/01/2013

Good Morning !!! Due to some unavoidable circumstances we could not post Opening Bell as well as Weekly Wrap. Inconvenience caused to our readers is deeply regretted.

Today NIFTY may open flat to positive. We may see the level of 6090/6120 at the higher side. At higher level we may see some correction of few points. 6140/6150 is weekly channel resistance.

NP-SAR of 21/01/2013: 6025

Buy ITC above 290 SL 284 target 300/306 (all cash levels)

Wish you happy trading !!

Opening Bell for 15/01/2013

Good Morning. NIFTY may open flat to negative.  It may consolidate for the day and retrace upto 5995/5985.  Depending on prevailing condition, that would be good chance to buy with small SL.. 6038 is the level to watch on the upper side. Above that level we may see 6070/6120 levels in NIFTY.  Below 5980 we may see 5930/5905 levels.

NP-SAR of 15/01/2013: 5978

Wish you happy trading !!!

Nifty Spot Weekly Analysis: A Market Profile Perspective

Weekly Value Areas : VAH-6000, POC-5975, VAL-5950

The Bears had a good week, with Monday starting with the Highs at 6042 and closing on Friday at the low at 5943.55 (Adjusted closing just above at 5951.30), making a gain of around 100 points. Coming back to the chart pattern, Nifty was sold thrice from around the WVAH of 6017 and not a single close was above that for the entire week. As said in my previous weekly analysis below 5973, it went on to fill the low volume area around 5980-5960-5940.

What's in Store for the coming week?

Based on values and the chart pattern, we see huge resistance developing around 5990-6010, and only above that Nifty will be back in Bull territory. Staying below 5950, the low volume area from 5950-5910 should get filled. Staying above 5950, the 80% rule may kick in to move the index back to 6000 level.

Hope this Helps :)

Opening bell for 11/10/2013

Good Morning !! Yesterday NIFTY moved exactly as per our Opening Bell (scenario - 1). Today's price action may decide about the direction for coming weeks.

If we look closely at 30 min chart then there is enough evidence for some upmove in NIFTY.
A) Positive Divergence
B) Oversold CCI
C) Buying Cross in MACD

But daily chart is not looking bullish. -ve Divergences in indicators are suggesting possibility of downward movement.

It may be concluded that Intraday basis we may get opportunity to buy but higher levels should be used to sell for positional trade. It is highly possible that we may get Hanging Man candle in weekly closing.

5980 is important level for Nifty. on the higher side 5980/5995/6010/6030 are the levels to watch out. Whereas on the lower side, 5945/5930/5905 are the levels to watch out.

NP-SAR OF 11/01/2013: 5981

Wish you happy trading !!!

Opening Bell for 10/01/2013

Good Morning !! Yesterday, in our opening bell we observed, "First hour we may see some range bound moves before breaking out in either direction. It is highly probable that NIFTY may break yesterday's low." Nifty exactly moved as per our opening bell.

Today, NIFTY may open flat to positive. Two scenarios are possible. 
1. After opening, NIFTY may resist at 5985-5995 zone and fall again to the level of 5940-5950 before a final pullback around 5960-5970 level.
2. After opening positive NIFTY may fill opening gap and move within 20-25 points range. 

It is highly probable that we may see 5940-5950 level which would be good buying zone with small SL. 

NP-SAR of 10/01/2013: 5986

Buy :ULTRACEMCO above 1970 SL 1957 target 1985/2000 and above.

Wish you happy trading !!!

Opening Bell for 9/1/2013

Good Morning !! NIFTY may open flat to positive. Positive bias will be there if NIFTY trades above 6010. On the other hand staying below 5990 price may come down further to 5965/5950.

5965 was previous high, so, this level may act as support. Breaching that level will be first indication of bigger correction.

First hour we may see some range bound moves before breaking out in either direction. It is highly probable that NIFTY may break yesterday's low.

Sell NIFTY below 5990 SL 6011 (5 min candle closing) Target 5970/5950
Buy NIFTY above 6010 SL 5990 (5 min canle close) Target 6030/6050

NP-SAR OF 9/1/2013: 5986

Yesterday our free stock call given decent return of Rs. 5000 with one lot.

Buy UNIONBANK above 276.50 SL 273 target 280/283 

Wish you happy trading !!

Opening bell for 8/1/2013

Good Morning !! NIFTY may open flat to negative. Yesterday's price action hinted about some correction in coming days. Sell the rise till 6030 taken out should be the strategy as of now. Negative divergence, selling cross on stochastic are seen in daily chart along with bearish engulfing candle stick pattern

Sell NIFTY below 5985 SL 6005 target 5960/5930 

Buy NIFTY above 6005 SL 5985 target 6030/6050

6005 is resistance level for the day.

NP-SAR for 8/1/2013: 5981

Free Stock Call: Sell SESAGOA below 200.5 SL 204 target 196/193 (All cash level)

Triggering of  NP-SAR (hourly closing) generally give 40-50 points at ease.

Wish you happy trading !!

Opening Bell for 7/1/2013

Good Morning !!!

Nifty should open positive. Staying above 6020, NIFTY may move up to 6050.
6050-6060 level may act as resistance level. On the other hand, minor weakness may be seen below 6010.

Buy NIFTY above 6025 SL 6010 (5min candle close) target 6050 and above.

Sell NIFTY below 6010 SL 6025 (5 min candle close) target 5990/5975

NP-SAR for 07/01/2013: 5952

Wish you happy trading !!

Nifty Spot Weekly Analysis:

Nifty Spot Volume Profile Value Areas: VAH-6017, POC-5995, VAL-5973

I did an Analysis on Nifty when it was around 5100 level and everybody was pessimistic about the index going down to 4400 and lower, and I put my foot forward to say we may move higher towards 5870 and above and my analysis did come true. For the old analysis you can click the following link Nifty Analysis Old

Nifty had a perfect week for the Bulls with a gain of 107.8 point, approx 1.8% and closed above 2 years high. Coming back to the given chart pattern of Nifty, it is strong staying above the Value Area High of 6017 and start turning weak staying below 5995, with confirmed weakness below 5973. Above 6016, the next target is 6070 and 6145. Below 5973 a quick move towards 5930 and 5900 is possible.

Stay cautions at higher levels, anything below 5973 and the low volume are between 5980-5960 will get filled.

Opening Bell for 04/01/2013

Good Morning !! NIFTY may open flat to negative. Yesterday daily candle stick pattern looks like Hanging Man and today's price action may confirm whether there is any short term correction due or not. A solid candle (closing price below opening price) will confirm the pattern.

Trading below 5995 may favour the bears for intraday. It may take support around 5970 if comes down. 6030/6045 are resistances for the day.

NP-SAR OF 04/01/2013: 5951

Wish you happy trading !!

Opening Bell for 3/1/2013

Good Morning !! NIFTY may open positive to Gap-up around 6025. Today's gap should be filled. So, one may take counter trade around 6025-6035  with Small SL of 10 points for the target of 5995. But NIFTY is strong so, it is not suggested to keep the trade until it shows any weakness.

On the other hand, we may get opportunity to buy around 5985-5995 after filling of Gap.

NP-SAR for 3/01/2013: 5966

Wish you happy trading !!

Opening Bell for 2/1/2013

Yesterday our intra trade of NIFTY has given few points although it did not hit any target. Today, all important level is previous high of 5965. A daily closing above 5970, will open new area of trading for NIFTY whereas it may give decent correction if it fails to close above 5970.

Two possible scenario may develop intraday basis.
1. Open around 5965 and trading above it, making new high
2. Open around 5965 and come down immediately and trading within few points whole day and correcting the Oversold condition in short T/F.

NP-SAR FOR 2/1/2013: 5900

Buy NIFTY above 5970 SL 5950 target 5990/6020

Sell NIFTY below 5950 SL 5970 target 5930/5905

Wish you happy trading !!!

Opening Bell for 1/1/2013

Good Morning !!! NIFTY may open positive to gap-up following positive global cues. Staying above 5930 will open chance for new high above 5970 and closing above 5930 may be treated as breakout from present range bound movement.

Buy NIFTY above 5935 SL 5910 Target 5970/5990/6020/6040

One may treat 5 min closing price for trading.

NP-SAR for 1/1/2013: 5892

Wish you happy trading and profitable year ahead.