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.