NIFTY TREND

Nifty is trading precariously near 10604 which is our last support level.  Any hourly/ daily close below  this number shall lead to 10450/360. 

Bank Nifty is also  trading near critical  level 26597.   If it loses the support then it shall lead to 26050.

 Yesterday was the consecutive 8th  session we saw nifty falling down.  Whether the Index  is going to create a new record in down  trend or will  there be a pull back from here.

In all probability today after initial  hours of  down trend,  Nifty likely to pick momentum from the bottom. 

If Nifty /  BN Spot  makes  an hourly or daily  close  above  10709/26812 exit from Shorts. 

In other words go long only when the index cross these numbers.

Good Luck!

NIFTY TRENDZ

Nifty did manage to climb above 11000 mark, but unable to sustain the high due to lack of  support which was visible in CNX 500 index.  

At  the end of the day, it closed at 11069, a doji close.  This indicates no steam left on the last day of the week  to continue the  rally.

Bank  Nifty futures has crossed 27480, but in the end it was  again a close near previous day, signalling exhaustion.

Watch out for 10983.50 ( budget day high)   and 10934 ( 5/2/19 close price) up to which nifty likely to visit to complete the consolidation.

Bank Nifty is still lagging behind and yet  to participate in the rally.  Till then crossing 10200 is a long  way away.  

Good Luck!

NIFTY TREND

Nifty has already crossed 10987.5,  being last month high and closed  at 11062.  As indicated in previous message, this month  bullish trend i or sure.  Any dip  on Policy release day is a buy for immediate  target of  11277 and month end target 11600.

Hold your long and  make more gains.

Today nifty spot may touch 10925/940, to  fill  the yesterday gap up. There one can go  long. 

In case of bank nifty there  is no such a gap  left out. The maximum down side could be 27075-27166.

Make the best use of this dip for positioning  well.

Good Luck!

Nifty & Bank Nifty

Bank Nifty support is awaited and a positive outcome in the Policy meeting shall drive Bank nifty above 27750. Or  else  we can find a big fall  if there is any disappointment. It is prudent to wait till the policy release tomorrow.    27750 is the high during the last 3  months. This number is very critical for BN to  cross 28k.

The index is very interestingly poised. Nifty spot closed at 10935.   The top formed in Dec- Jan is 10941.2,10983.1 and 10983.5 respectively.  Unless  we find a daily close above 10983.50 index could be  again range bound.

Keep an eye on Nifty 500 Index. This index gives an idea about the market participation of top scrips.  One has to wait  for this  index to   stay above 9152 to see nifty moving  above 11100/200 levels.

This month target  for nifty is 11277. If that happens before 3rd week, then our next  target is 11600. Look for these targets if you find Nifty 500 Index is  favorable. 

Good Luck!

Trade with caution and Good Luck!

NIFTY TREND

Nifty is in buy but Bank nifty is slipping from buy level. Trade with caution. 

Levels given for members on board.

MONTHLY TREND

The trend for the month of February  is matching with  July  /   August 2018 pattern where  we could  see all time high. 

The target for the month 11222/637. Any dip during the I week of this month is a good buy.  

Bank Nifty could cause panic on Policy release day (7th February 2019) where one should make entry.  BN monthly Target 28500+.

Yesterday all PE recommendations  hit buy level and gave very decent profit  of 30%.  The SL given was on  daily close basis.

See my recommendation to believe.  The high made after  budget speech  has  been  mentioned  against recommended price. 

STRIKE	PE/CE	BUY AT	HIGH	TR
10600	PE	83.9	97	130
10700	PE	101.6	128	161
10800	PE	126	163	195

CEs did  not reach buy prices after budget speech. So only PEs could give returns.  

Good Luck!