As we are out of down trend channel and forming swing highs and swing lows stock looks in good up trend, but I am not convinced with the move, reason being DMI and CMF both are not supporting the up move. I expect stock to correct from supply zone just above CMP. If we get out of up trend channel then that will be the conformation of correction. Levels...
There are several methods of plotting price channel, in my opinion drawing it from closing value is more logical when we are looking at long term charts. Considering this we are out of recent down trend channel and yet to close above main down trend channel, the supply zone and channel are crossing each other just above current price. we can expect very...
Market Bytes 07-Apr-2016 Nifty futures yesterday we had discussed a narrow trading range between 7600 and 7650 and markets did exactly hover between that range (Low High: 50 points of each other). In that perspective the high low of yesterday becomes more imperative. Specifically on the downside we have a major support zone at 7600 levels. This was also the failed...
Market Bytes 04-Apr-2016 Nifty futures has been holding up strong since it cleared the 7680 , the fact that it made higher bottoms twice and didnt breach the range means that market momoentum is strong and the base of 7680-7700 will provide a strong immediate support and will be a good point of reference for longs even at this stage. Immediate intra day trend...
Market Bytes 29-Mar-2016 Nifty futures Last time we discussed on 22nd that the swing trend decider was 7680. This level got breached in yesterday's trade and now will hold a signficant swing resistance.On the downside immediate day trading support remains at 7620. If the markets manage to hold these levels. then expect markets to trade in a range between 7620-80...
Market Bytes 14-Mar-2016 Nifty Futures: we had discussed a broader range of 7430-7550. That range alomost got tested on both sides and yet failed to clear on either side ensuring we continue in the range. For immediate entries I had 7510 in mind. This gave about 32 odd points. Now that we are back in the thick of the zone. We will again be tempted to take the...
Market Bytes 09-Mar-2016 Nifty Futures: Yesterday we discussed that markets had rallied too much too soon and needed a pause. The Trading range being 7550-7430. WE saw a berach of 7430 and then markets managed to pullback and close above it.I found it difficult putting together a trading plan yesterday as I was not convinced on how deep will be the retracement to...
Market Bytes 02-Mar-2016 Nifty Futures: Wow, These are some of the days where markets change swing trends in a session and suddenly we are talking about different swing levels and trading zones. Yesterday's trade turned out to be quite straight forward and hopefully a good one for most; we marked to long above breakout 7130.On 22nd Feb we marked pivotal levels of...
Nifty likely to cool-off from 7,500-7,540 zone towards 7,200-7,250.
Market Bytes 01-Mar-2016 Nifty Futures: Quite an action packed session which no significant net change. justifying our thesis that the net change isnt much. NIFTY closed at less than 1% net change. Another key takeaway is that we had stated multiple times (Our post for 12th Feb-2016) that we see a market base at 6830. Yesterday the spike low made was at 6833 ,...
Market Bytes 29-Feb-2016 Nifty Futures: TOday is the big day ; isnt it? well statistics have a funny suggesstion; the net movement in budget days for the past few years have been less than or around 2%. So despite the big hoopla it indicates makrket on closing basis may not move beyond 2% in most cases. I would say there are three key themes for the budget this...
Market Bytes 24-Feb-2016 Nifty Futures: It was quite a session yesterday, first part of it worked fine, where we wanted to trade the break outside the range created on the 23rd. This provided a good short opportunity. Now what went wrong is we wanted to trade a pull back from the 7160-65 levels expecting to be respected which gave away soon enough. Now for the...
Market Bytes 12-Feb-2016 Nifty Futures:For yesterday's session we had mentioned that SBI results will the trend decider in many ways. So it was indeed. The stock turned the tide of the market. Traded with the highest quantity and volume yesterday, as a testament to our hypothesis. Did we catch the move; well nah for the first half where we never got into a pull...
Market Bytes 01-Feb-2016 Nifty Futures: Quite a bounce in the start of the new series here and at a good pace. The bounce happened on well spread out volumes indicates a good support base can be established. For last session we had mentioned that 7400-7420 can be the immediate support base for a pull back. On friday markets made a low at 7404 and sharply pulled...
Market Bytes 25-Jan-2016 Nifty Futures: or Friday we had discussed that for the first time "Downside short Risk for the first time looks to have a lesser rewad versus a pull back long" and what a pull back was that. we had mentioned that 7270 will be the key and above that usides targets are 7340 and 7420. markets exactly did both the targets. Coming to the...
Nifty Futures: On the note for 13th we had discussed that 7440 and 7350 are downside swing targets. Both The targets are done. This will be a key zone to watch out for now. Further shorts if any has to be taken with caution. Best would be to rather wait for pull backs. 7580 and 7700 are the upside hurdle zones and trades can be taken at those levels based on price...
NSE_EOD:NIFTY which is traded in NSE,Mumbai & scrip name as Nifty Futures January is likely to continue its downward move and possibly reach around 7250's. We know that Gaps act as Resistance/Support and check your trade plans to place stops around that region NSE_EOD:NIFTY from 7650's to 7750's. Possible Targets around 7200's to 7250's and its more likely to...
Nifty Futures: NIFTY while it managed to hold on to to the 7580 levels and staged some sort of a pull back, weak global cues will mean we may now crack that level and open below it. It will be importanat to see if NIFTY futures manages to stay and trade below 7550 in that can the levels of 7580-50 now can be used as a stop for a fresh trade on the downside with...