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. 

Opening Bell for 31/12/12

Good Morning !!! Nifty may open flat to negative. We should be watchful in opening hour. One may short NIFTY if hourly closing is below 5890 with SL at 5910 for target of 5870/5850

Hourly closing above 5930 may invite fresh long which may target 5950/5970.

NP-SAR for 31/12/12:  5885

Wish you happy trading !!

Opening Bell for 24/12/2012

Good Morning !! NIFTY may open positive to gap-up. Immediate resistance placed at 5870/5890. Sell on rise should be the best strategy as of now. NP-SAR is good enough resistance for the day. Although one may think of quick long trade with small SL.

NP-SAR for today is: 5894

Wish you happy trading !!

Analysis of NIFTY: 17-December-2012

In Daily chart, NIFTY ended with perfect Doji, most expected pattern before all important RBI policy. Let us catch the policy with chart.

In daily chart NIFTY closed below 5EMA, MACD has given selling cross (not shown). But a closer look at the 30 min chart says that NIFTY may move up. So, what should be the strategy?

CCI of 5 min and 30 min is negative and below 100 and expected to be move up along with RSI. Today's down move could not breach support level. So, a upmove may be pending.

Above 5865 NIFTY may target 5878/5886/5905.
Above 5905 NIFTY another round of up-move may unfold targeting higher levels 5935/5970.

But is that all? We think NO.

Daily TF is not strong enough to support huge upmove until closes above 5930. And NP-SAR of tomorrow is 5876. So, watch out that level (5875-5880) too where SHORT may be initiated with small SL with developing trade setup.

Wish you happy trading !!

Opening Bell for 17/12/12

Good Morning !!

NIFTY may open flat to negative. Sustaining below 5850, selling pressure may continue in NIFTY. 5830/5810 are the levels to watch. 

On the other hand, sustaining above 5890 NIFTY may move for higher targets of 5910/5930.

Try to buy at supports and sell at resistance if condition favors, otherwise stay with position. That would be best risk-reward trade.

NP-SAR for the day is 5880

Wish you happy trading !!

Opening Bell for 14/12/12

Good Morning !! NIFTY may open flat to positive. Today, important level is 5870. Staying below that level weakness will stay and staying above that level NIFTY may gain some strength to become range-bound between 5870-5930.

Those are short in NIFTY may trail their SL to 5870. Fresh trade should be initiated depending upon stated market condition.

NP-SAR OF 14/12/12 : 5887

Wish you happy trading !!

Analysis of NIFTY: 13-December-2012

NIFTY moved as per our EOD Analysis and Opening bell; on 11/12/12 our observation was " NIFTY was trading below today's NP-SAR although it was above developing SAR and it closed above tomorrow's level of NP-SAR. This is an early indication of developing weakness in NIFTY."

Now what next? Let's try to find out...

NIFTY is trading well below NP-SAR and 5 EMA. It is seen that triggering of NP-SAR gives atleast 50 points most of the time and we got 50 points today itself. Now, we may hold our short for immediate target of 5830/5805/5790.

But is that all? I think no. If we look at NIFTY chart carefully, rounding top is developing which is a pretty good reversal sign. A close below purple line will be triggering of immediate reversal. Although it is too early to say that reversal is on way but, we may consider it a possibility; ofcourse developing price pattern will confirm our possibility. The best thing that we can do trail our SL according to NP-SAR.

MacD is about to give Sell Cross and Stochastic is hinting towards downward movement. RSI is coming down from OB zone.

We should stay short and keep booking profit at regular interval and keep our levels ready.

Wish you happy trading !!

Opening bell for 10/12/12

Good Morning !!! Today NIFTY may open flat to positive.  5930-5950 s\is resistance zone for NIFTY. Above that level NIFTY may move upto 5980/6040/6070. On the other hand, sustaining below 5890, NIFTY may target 5870/5850/5830/5810.

Closing below 5870 should be considered weak. 

NP-SAR of 10/12/12 : 5866

Please visit NIFTY Pulse Page in Facebook for daily free calls.

Wish you happy trading !!

Analysis of NIFTY: 6-December-2012

Today, our NP-SAR was 5841. We suggested our readers to partbook NIFTY around 5920-30. So, we got that level to exit. NIFTY corrected to 5838 which was close to NP-SAR and re-buying level of NIFTY.

During strong trending move corrections should be taken as re-entry level and entry point should be NP-SAR +/-5 points with 20 points SL. It is tested that during trending move NIFTY always correct to NP-SAR level which can be treated as re-entry level. If 20 points SL hit, it should be a reversal signal.

Now coming to NIFTY. Today NIFTY formed long legged DOJI. It touched the red line (as discussed yesterday) but could not sustain below it.  On daily chart, NIFTY is reaching over bought zone. Stochastic is flat at higher level. No signal from MACD yet. So, NIFTY may remain in over bought zone for sometime more; yet we should remain cautious at higher level. But we suggest to stay long with part book at regular interval and re-entry at NP-SAR level.

Trading above 5945 will give further oxygen to NIFTY for further upmove to 5980(blue line)/6040. On the other hand, trading below 5910 may invite larger correction.

Free call performance: Today free call of IRB was given. It hits target 1 and almost achieved target 2.

Free calls are provided at NIFTY Pulse Page of Face book.

Wish you happy trading !!!