MARKET TREND 03/07/2017

Nifty Future and BNF closed at day high on 30/6/2017 recovering all the losses.   It all looks like gearing up for a good sentiment on GST implementation which is historic.

Both the index had a good bounce back and looks to open positive on 3rd July 2017. Nifty likely to have a rally of 60+ points while BNF may be 150+.

Since 10 out of 12 banking stocks are already in positional sell it is better to trade with caution.

Trading tips: Buy 23000 PE Jul 6 Expiry around 18-20 for target 50-55.

Best of Luck!!

MARKET TREND 30/6/17

On Expiry day both indexes gave up all the gains despite strong global cues. For the first time we could witness a doji closing. The reason for down trend is profit booking in the mid of the year. This is a meaningful correction which is due and may stretch for quite some time.

Nifty Intra day           Support  9482/72/56/19.                  Resistance 9514/24/40/90.

Bank Nifty Intra day Support   23109/066/22994/22579. Resistance 23252/295/367/513

Buy  22500 PE JULY Expiry at 53.05, with  Stop Loss 34.00 for big gains. 

MARKET TREND 29/6/2017

Month Expiry falls on this day. Indexes have been moving below support levels. This is a repeat of what happened during last expiry. The only difference was that even though the correction was deep during last month index was above support level and a good bounce back was seen in May 2017. In June we are very close to last support level which is like cat on wall situation.

Could there be a repeat of big jump like what happened in May  this month?

If BNF is able to trade above 23350 then up move is quite possible.  It may take to higher level up to 23700/850.

 IF BNF trade below 23200 then there are possibilities of BNF going below 23000/22865/22650.

TRADING STRATEGY- PURE GAMBLE.
Buy 23000  PE   around 0.25 - 4000 qty. Inv 1000. TARGET 150.00  - 600 TIMES
Buy 23500 CE   around 0.25 - 4000 Qty Inv 1000.  TARGET 200.00  - 800 TIMES

Best of Luck!!

MARKET TREND 28/6/2017

Nifty future and bank nifty came under severe  selling pressure yesterday as expected. It is likely to  continue do to winding up long positions. Market may be around 9500 for some time. But it s difficult to sustain higher levels today. The indexes are in correction mode.
 Whether the correction will continue and up to what level ? Is it going to be touch 9000?
 All these questions will be  answered on 3rd of July 2017 when the market opens.

Nifty Fut Support 9480-419-280. Resistance 9518-9525-9543

Bank Nifty Support 23125-23058-41-22925.  Resistance 23263-350-452.

Trading Tips:  Buy 23000 Put around 10-12 June Expiry for big gains.

Alert: Wind up all long positions. Wait till 3rd July for a clear direction.

MARKET TREND 27/6/2017

Today market could be tricky. Selling pressure is too much on bank scrips. Market cannot sustain higher levels.

DO not take long positions in the market today.

MARKET TREND 22/6/2017- IT'S EXPIRY DAY!!!

Both the indexes have started trading in a narrow range.

Today being expiry adopt strategy as below

If BNF trade  below 22709 then short BNF and go long if BNF sustains above 22760.

Options strategy : Buy 23600 PE @  0.30 - and buy 23800 CE 0.30. Max Qty 2480.

Best of Luck!!

MARKET VIEW 21/6/2017

Nifty Futures ended flat at 9675 nullifying all gains made during the day. There are chances of down trend up to 9650 before it could take a forward  move.

Bank Nifty  futures also traded in a very narrow range and could not break the upper level of 23743 or lower level 23660 during the day. 

In the process all calls which were dearer yesterday are now cheaper. We can expect a down trend up to 23608 before an up move.

Nifty Resistance 9683-9697-9720  Support 9662-9641  Trend decider 9641.

BNF Resistance 23727-783-875  Support 23658-543 Trend Decider 23408.

If BNF trades above 23726 there could be a big move. We can expect expect this move any time and not necessarily that this should happen only on Expiry day.

NIFTY TREND 20/6/17

Nifty and BNF both moved as  expected.  NF closed at 9676.50 indicating a further downward move to 9660//9645.

Bank Nifty Future closed at 23675 and could not retain the gains and the close is below previous high 23778. Again BNF indicates a further move down to 23580-560.

Both the index are on buy on dip mode.

Nifty Intra day level: Resistance 9688-9705  Support 9661-41-16-9600

Bank Nifty Intra day level : Resistance  23712-778-826  Support 23641-580-550-510

MARKET VIEW 19/6/2017

On Friday Nifty Future closed at 9590 shedding more than 10 points in the last 15 minutes for a close below 9600.  The index seems to be exhausted and it will take some more days for a rally towards 9700 but Monday will see a move towards 9626.  NF must close above 9605 to be in a comfortable buy zone.

Bank Nifty future ended at 23442 and a short journey towards 23560 is likely to happen before it slips. 

Both the indexes are likely to be range bound for next week as crossing 23778 may take some  more days. The reason is that we have no big news or event to take the index forward.

INTRA-DAY LEVELS

Nifty Fut Support 9584-9571   Resistance  9592-9618.  Trend decider  9605

BNF Support 23431-337   Resistance 23460-493-507    Trend decider  23358.

Trend Decider Intra day means one can go short or long in future if index trade above/ below this number for more than 10 minutes.

Happy Trading!

Alert: Do  not get carried by any rumour that nifty or BNF will fall heavily.  Both are under consolidation and it may take some days to move ahead. 

MARKET VIEW 16/6/2017

Nifty future managed to close near 9600. Still looking weak unless it moves above 9606. ON the other hand BNF managed to get rid of danger zone and comfortably closed above 23358.  Tomorrow we can see BNF move upto 23465 to support nifty future to cross over 9606.

The  coming week is likely to be a consolidation before a move above 9700.

Technicals for NIFTY FUTURE : Support 9598-9583 Resistance 9607-37-47-51-62.

BANK NIFTY  Support 23361-311 Resistance 23462-471-493-525-533-575.

MARKET VIEW 14/6/2017

Nifty future has lost all the gains and ended very near the day's low at 9613.  BNF also ended at 23435 and the down trend is likely to continue irrespective of global cues.

The NPA issue  is likely to drag BNF down to 23348  and below.

Nifty Future technical. If Nifty future breaches 9602 then 9589 -9570 can be taken as next support levels.  9606 is trend deciding number below which NF is weak. it has resistance at 9628-35-45-50.

Bank Nifty Future takes next support 23415-360 and 23358 is trend deciding number and breaching this number indicates weakness in BNF for lower levels unto 23100.

MARKET VIEW 13/6/2017

Both Nifty future and Bank Nifty futures seems to have not completed their downward journey. While Nifty Future may show recovery around 9570, BNF seems to be correcting much more below 23350.

23200 put around  27 could double your investment.

MARKET VIEW 12/6/17

Nifty and Bank Nifty future have already achieved the intermittent target and the current phase is profit booking / consolidation.

The dips in Nifty is expected to be around 9569. This dip should be used to enter for a long upto 9700 by the end of this expiry.

Bank Nifty also likely to reach  23108 before a big leap towards 24000.

Puts are likely to shine. 23400 15th June expiry put around 45 for target 81/92.

MARKET VIEW 9/6/17

On Expiry day both Nifty and Bank Nifty ended with negative trend. The signs of yesterday trade reflected further down trend  to continue due to out come of UK election results. ECB meeting and FED meet also likely to decide the course of the global market. Till mid of this month one can expect a move around 9550-9700. During this profit booking session, new investors can take it as an opportunity to enter at 9550-9575 level to pick FMCG(HUL & Britannia), IT and Banking (SBI and BOB only)  to see decent  gains before expiry. Avoid Pharma, Cement and paint sector stocks during this time.

Option pick for the day: 23300 Put 15th expiry could give decent gains on a intra day basis.

MARKET VIEW 8/6/17

Nifty Future recovered smartly after touching 9651. RBI policy maintained status-quo. No change was looked positive and BNF gained 175 points to end above 23600.

Tomorrow Being Expiry day we must look for higher levels in Bank Nifty. But it has to cross the resistance at 23701/23778 to climb 23904 which looks like very much possible. But expect the unexpected things to happen.

BNF has strong support at 23449/419/372/246.

Having already touched 23778 in this week, BNF will try to surpass this number after a clear mandate out of UK Elections. Till then it will be a range bound hovering in between 23400-23700.

MARKET VIEW 7/6/17 - MONETARY POLICY DAY

Nifty Future ended with -20 over previous day whereas BNF ended flat.

There are more chances of BNF visiting 23000 level and upside is limited due to events lined up  during this week. SInce 23785 has already been achieved though a punch during the opening trade on 6/6/17, the up move is capped.

Trade tip; Buying 22500 Put of June expiry is prudent as more events are lined up duing this month and this month expiry has a long way to go.

MARKET VIEW 6/6/17

Nifty and bank nifty clinched new high on Monday but it took the whole day for BNF to break the resistance at 23399/23435.  Both  the index are near all time high.

The RBI Policy and GAAN date coincides and 7/6/17 could be a day of  high volatility.

BNF Above 23300 can make further move towards 23700-24100. But a close below 23300 negates up moves and can move down to 23150-22992.

Trade with caution!

MARKET VIEW 05/06/2017

Nifty futures opened with a gap up and clinched a new high of 9672. But last one hour of trade witnessed a continuous down trend and gave away as much as 30 points and ended at 9645 with a gain of 14 points over previous day. The indication for Monday is a continuation of down trend up to 9630-9596. 9633 is trend decider below which NF could touch 9529 level if 9596 is also breached. 

Bank Nifty futures also opened with a gap and touched 23399 just one point short of 23400. BNF also ended at 23337 as it was taking support at 23280 levels.

In short, both the indexes were indicating their continuation of down trend on Monday. This could be RBI Policy effect irrespective of global trends.

BNF above 23300 looks positive for further levels 23700-24100. below  23000 will take to 22880-727-430.

Since 6th June is Gann Date, high volatility is expected on 6/7th of June.  Happy Trading!!!

Market View 2/6/17

On the expiry day both nifty and bank nifty did not show much movement ahead of RBI Policy due next week.

Both Calls and Puts in BNF were disappointed with a range bound move in BNF.

Technical: Intra day
Nifty faces resistance at 9635-41-52 and support at 9623-13-07-9596.
Bank Nifty faces  resistance at 23311-342-392 and support at 23211-180-130.

Big moves on the upside is not expected till Tuesday.

Happy Trading

Future Scrips: Watch Coal India and Reliance tomorrow.  Buy or Sell?