MARKET TREND 01/08/2017

Today both indexes closed at record high. 

Today BNF started moving up immediately after crossing 25037 around 11.30 AM. 

Nifty Future closed at 10102 after and just 15 away from previous high.   

Bank Nifty created yet another high today and closed at 25129 near all time high.

Both the indexes are in break out and likely to open with a gap up tomorrow.  Better to book profits in the initial hours of trade as volatility  may start.

Do not take the index moves very lightly and assume upside. Be  prepared for high volatility which will reward you if you are contended and punish if you are greedy.

Nifty faces resistance at previous high 10118 and support at 10097/72/53/42/02.

Bank Nifty has resistance at 25366, perhaps BNF tops up here at this level. Support  seen at 25009/24980/933/839/810/763.

Happy Trading!

ICICI BANK

ICICI Bank has slipped from 325.50 achieved on 8th June 2017 and yest again an attempt to climb high on 27th July failed and the weekly close was below previous week close. The coming week likely to see a low of 285.00. It is a sure short candidate at 301 and below with SL 305.90 Tr 285.00.

TAKE CARE!!

MARKET TREND 31/07/2017

August Series have  started with a negative bias, but managed to close flat to positive at the end of the day giving some relief to bulls.

But the under current is still negative when we observe 10000 PE closed above previous day price despite index being positive.

Bank Nifty is trading with a historic high premium of more than 100 points. All the call options however lost  premium substantially.

Nifty Future is bearish below 9995 and bullish above 10120.

Bank Nifty future is bullish above 24898 and bearish below 24820. Resistance seen at 25037. 

In view of RBI Policy with big expectation of rate cut, it is advised to trade with caution. Go for call options only if 25037 is broken firmly. Or else go for Put option if BNF breaches 24740.

For the first time, on 2nd of August we will experience a intra day swing trade of  400 points where both the OTM Options will be rewarded.  

Happy Trading!!

MARKET TREND 28/07/2017

Expiry day trade started with a big gap up and it was giving all hopes to bulls, but at the end of the day it was finally a trap as Nifty surrendered all the   gains made during the day.

Bank Nifty Future however did not budge much and looks to follow Nifty later if the results of key banks are not in line.

As a whole the market is likely to take halt after mammoth rally.  The fresh rally may start after a small break.  

ITS CORRECTION TIME NOW

Short Nifty and Bank nifty at appropriate levels and enter in to the market when the reversal takes place.

If BNF breaches 24940  for 15 minutes, you can see a downfall unto 24800. If that is also breached then next support is at 24615. Final support is at 24515. 

Nifty Futures Aug has already breached 10084  and closed at 10070. Next critical level is 10026 an if that is broken it may lead to 9983.

Happy Trading!

MARKET TREND 27/07/2017

Yesterday the July Expiry Nifty Future also crossed 10,000 mark and closed above 10k. This indicates a stable and further move towards 10079.

Bank Nifty Future moved very fast after crossing 24575 which was indicated in my view. I am sure most of the persons would have got the benefit of going long in futures or calls based on the above technical view.

Today being expiry day, we must stick to  technical.

Nifty future maximum upside move 10080//10120.

Bank Nifty have already performed beyond the limits and a rally beyond 25000 is possible only if BNF stays above 24861 for more than 5 minutes today. Till then it will be range bound between 24575-24750.

Any close below 24575 will take to next level 24455.  Trade with caution.  Do not expect big fire works today.

Happy Trading!

MARKET TREND 26/07/2017

Nifty Future and Bank Nifty are near all time high and today is a very important day for Nifty for crossing 10,000 mark on Spot.

Bank Nifty has lifted the Nifty to touch 10,000 as predicted in the yesterday view.

Nifty Fut for the month could be tricky and it is strongly advised to go in for Aug Call Options to ensure capital protection. 

BNF has touched 24575 during the initial trade and this acts as a strong resistance in the coming days. on the lower side 24455 acts as a strong support. Breaching both top and bottom in 5 minutes candle will ensure a faster move on both the sides.

As long as BNF does not cross 24575 it is prudent to watch market.

In up trend market, you must book profit at every 50 points and wait for dips.

Happy Trading!!

MARKET TREND 25/07/2017

Today we have reason to cheer!

Nifty is in all mood to cross 10,000 mark in this expiry. All the key scrips are in support of Nifty to achieve the 5 digit number.

BNF has limited up move as already explained in my previous review.  BNF could move maximum 24530-600 to help Nifty climb up to 10,000.

After this one can see some halt.

DO NOT GET OVER EXCITED WITH INDEX MOVES AND DO NOT GO FOR CALL OPTIONS. TIME IS SHORT. PREMIUM IS HIGH.

Today we have traded safe with Nifty 9950  CE. Protect your capital and premium likely vanish fast.

BNF Resistance 24405./  470/480  Support  24250/106/990

NF Resistance 9974/9998  Support 9946/9903/9849

Trade with caution!  Book your profits tomorrow and wait for right trade

HAPPY TRADING!

MARKET TREND 24/07/2017

Bot the indexes are playing see saw game.  Making a low of 60+ points and recovering in a short time clearly indicates range bound market.

No doubt the trend is bullish. But the move is not straight forward and zigzag towards  10,000 which the investors have been waiting for. The expectations are very high in view of results of Heavy weights HDFC Bank, Axis Bank, ICICI Bank during next week.

Irrespective of stellar performances of these banks, BNF move will be very limited in view of the RBI Policy which is on 2nd August 2017.  

Upside for BNF is limited to 24450-24530.  Do  not expect fire works. On the lower side we have seen recovery of BNF around 24050 on Friday. If BNF breaks 24050 low, then next low will be 23927 where it should take support. If that does not happen then it may halt at 23735. 

Nifty Future also should not break 9832 support level and in case of any serious fall we may see 9688.

Take positions accordingly.

Since this is monthly expiry premiums will erode fast. In an uptrend market do not try to buy put and wait for the above levels and go for call options and this will give you time to buy and exit. Put my give money but it may dupe you if index recovers fast without giving you chance to book profit.

Happy Trading!!

MARKET TREND 21/07/17

On Expiry day I have skipped my post deliberately to avoid temptation based on my view.

Today Nifty and BNF just moved in a range and closed flat to negative.  Now that we are trading near all time high, global cues are more weighed rather than local. One must closely watch Dow Jones and S&P movements which will have a direct impact on our market.

Nifty Future Support  9876/9865/9846  Resistance  9891/9913/9925/9943

Bank Nifty ffut support 24227/193/140/084  Resistance  24289.

MARKET TREND 19/7/2017

Nifty Future took a U turn and it reminds us the old  saying in a new way:

"Trader Proposes - Nifty Disposes"

Nifty has lost its intra day support and closed at 9852 indicating a further down trend  unto 9793.    Beware at this level as NF is likely to reverse from here. Do not expect too much on the downside as the most critical component Bank Nifty is not  likely to support the downfall.

Bank Nifty likely to touch 23927 which could act as a support.  If BNF does not close above 24184.90 on a daily closing basis, it means BNF is also likely to join Nifty in its downfall.

Trade with caution till this  expiry.  

MARKET TREND 18/07/2017

Bank Nifty Future has closed at 24040 and Nifty Future at 9933.80.

5 out of 12 bank nifty scrips are in break out mode. These will enable BNF to clinch 24500 with comfort.

Bank Nifty Future : support 24004/23962/23904  Resistance : 24071

Nifty Future : Support 9922/9907/9897  Resistance 9935.

If anyone wants to make money out of option, can buy 24000 CE of  July month at CMP with SL 180 and hold with a trailing SL as BNF likely to start rally.

Happy Trading!!!

MARKET TREND 17/07/2017

On Friday both the indexes ended near all time high still indicating further up move. Global factors are supporting the market to clinch new highs every day during this month. This moth has been extra ordinary. On an average we have been gaining 250 points PM since Jan to June ( 8000 to 9500)/6= 250.
But this month we have already moved  from 9450 to 9900, that is 450 points up.

Will the rally continue and 10,000 will be sustained? This expiry will answer the question in everyone's mind.

Intra Day Levels:

Nifty Fut Support  9886-64-59  Resistance 9903.84 . Trend changing line 9829.

Bank Nifty Support 23963/927/904/832/810.  Trend changing line  23759

Best of Luck!!!

MARKET TREND 14/07/2017

The expiry day was filled with bullish outlook in the morning as the gap up motivated many to go long and expecting a further move above 24,000.

As long as 23891 is not broken on the upper side and closed above this on a daily closing basis one cannot expect 24000+ in BNF.

The close of both index near day high indicates side ways move.

Most likely index may  take a break for few days and do not expect it to make new high at least for the next 3-4 sessions.

Nifty - Resistance 9935  Support at 9880/69/43.  Any close below 9793 can lead to serious fall up to 9625.

Bank Nifty if 23808 support is broken it can lead to fall up to 23747. but a close below 23728 will lead to a steep fall up to 23550.

Bank Nifty Support 23808/747/728  Resistance 23891/927.

Happy Trading!!

MARKET TREND 13/07/2017

Today has been a break out day for nifty as well as bank nifty. The indexes have closed at day high indicating a sharp gap up tomorrow.

If for any reason if the index reverses one should wait for bnf to settle down and take long position.

Since tomorrow is expiry day it is suggested to take OTM option   of 23800 CE below 5.00. for big gains. No need to chase the Call options as market will definitely give enough opportunity to enter in to the position.

It is worth taking risk for Rs 1000 on the call option. DO remember this is a pure gamble.

Happy Trading!!!

MARKET TREND 12/7/17

As anticipated both the  indexes have started moving sideways.  This is very clear when the index start shedding the  gains and started declining from the life time  high.

But the close is at fresh high level.

IIP and Inflation data and quarterly results of Large Cap  companies should give direction to the market.

Nifty Range 9760-9810   Bank Nifty 23540-23685.

Tomorrow will be a painful day for all call holders as  the premium erosion will be huge. Puts wont get what   is due   to them in a falling market. That is the trading trick you will see tomorrow.

Keep watching the market. Do not take any position until 9760 is not broken in nifty and 23540 is not broken in BNF.

Happy Trading!!!

MARKET TREND 11/07/2017

Nifty and Bank Nifty were on Break out today. Despite technical glitch Nifty and BNF could clinch new high.

Nifty closed at 9774 above all resistance levels. Now IIP and Inflation data should give further momentum to the Index for next move above 9850.

Bank Nifty closed at  23657 and is totally in bullish mode. Next target is 23959.

Nifty Intra Day Support 9693/74/51/32  Resistance : No Resistance as NF in break out mode

Bank Nifty  Intra day Support 23625/540/425  Resistance  23782/23891.

Happy Trading.

MARKET TREND 10/07/2017

Friday could witness a Doji Close on Nifty Future but still looking positive for a move towards all time high of 9717 looking for strong cues.

BNF also closed at 23463  (Prev Close 23470) more or less a flat close. A 15 minute close above 23521 could see a fast move up to 23580/620.

Tuesday could bring cheers if the IIP data for May is strong.

Remain long as long as 9593 is not broken on the down side on Nifty Futures and 23166 is not breached in BNF.

Nifty Fut Support 9644/23  Resistance 9691/702/721.

BNF Support 23440/410/387/360  Resistance 23540/570/620

Happy Trading!!!

MARKET TREND 07/07/17

Yesterday Both the indexes (NF & BNF) closed with mild gains shedding 50% of gains made during the day.

This move clearly suggests sideways move till the time all time high is to be surpassed.

Bank Nifty future  looks strong. But must close above 23570 on a daily close basis for a move to break all time high 23891.

Both the indexes are likely to be on the sideways unless there are strong cues to have an impulsive move.

Nifty Fut Support 9662/51/44/34.  Resistance 9683/9393/9717
BNF Support 23443/368/313.  Resistance 23513/540/570.

Good  Day!!

MARKET TREND 6/7/2017

Bank Nifty is on the   buy mode and last 30 minute up move was giving cheers to bulls.  It closed above 23400 clearly making an indication of up move unto 23560/600.

Nifty on the other hand closed around 9650 indicating further up move and the next immediate target is 9825.

Option tips: Buy 23500 CE July 6 expiry around 4.50 for tr 50. SL 0.50.

MARKET TREND 05/07/2017

Nifty and Bank Nifty could not retain the  gains made during intra day and closed below previous day.  While Nifty Future still looks positive with a rebound to 9650-65 level, BNF does not indicate upward move as most of the BNF components are in sell mode( 10 out of 12).

If Nifty future is around 9650 one can short for 20-30 points intra day gain. NF Support 9612/9593
Resistance 9635/9664.

BNF Support 23184-133-060  Resistance  23256-323-368

Best of Luck

MARKET TREND 4/7/2017

Nity and Bank Nifty followed a similar close like last Friday. Both are in buy mode. While NF is totally in a bullish mode BNF is yet to come out of hurdle.

Nifty futures is on the break out and do not short NF. Buy  9700CE at 52  for TR 77/80.

Bank Nifty Future can move up to 23470 /23520. Buy 23500 CE around 38.50 for TR 110.00 SL 25.00.

If by any reason we find NF and BNF trading at low levels and as long as NF does not break 9593 and BNF does not go   below 23100, one should remain long in this market.

Best of Luck!!