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Nifty View - February '16 Series
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Author Nifty View - February '16 Series
vinay28
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Post: #1   PostPosted: Thu Jan 28, 2016 9:53 pm    Post subject: Nifty View - February '16 Series Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (29/01/16) and beyond

Supports are at about 7397/80/72/58/11, 7283 and 7264 while resistances are at about 7437/68/97, 7505/18/43/53/84/92 and 7613. Unfilled gaps on higher/lower sides are at about 7741/7276 resp. Two +WWs can give about 7534 and 7631 (if above 7358) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7374 (if below 7509) (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 7600 if nifty continues to go up.

Nifty fell in spite of a gap down open but managed to close well above 7400. Daily candle is like an inverted hammer and gravestone doji and volume was -ve and we may see some more fall before recovery. There have been three consecutive days with narrow range and we may see big moves soon. On daily basis, nifty has to close above 7436/7511/7569/7611 while on weekly and monthly basis, it has to close above 7602/11 and 7612 resp. A close below 7351 can be bad in short term. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #2   PostPosted: Fri Jan 29, 2016 7:18 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (01/02/16) and beyond

Supports are at about 7531/11, 7474/49 and 7422 while resistances are at about 7582/96, 7614/27/45/73 and 7690. Unfilled gaps on higher/lower sides are at about 7741/7276 resp. Three +WWs can give about 7633/47 and 7673 (if above 7516) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7375 (if below 7513) (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 7600 if nifty continues to go up while an IHnS can give about 7635.

Nifty rose sharply after a gap down open and closed above 7550 giving bulls some hopes. Daily candle is a big bullish Marubuzo with strong +ve volume and we may see some more rise. FIIs bought for the first time in many weeks and only sustained buying will yield effects of bullish div. Nifty must to close above 7611 to begin with while a close below 7437 can cause a fall again. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #3   PostPosted: Mon Feb 01, 2016 7:31 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (02/02/16) and beyond

Supports are at about 7528/19/11/04, 7498/77 and 7449 while resistances are at about 7569/96, 7601/28/36 and 7690. Unfilled gaps on higher/lower sides are at about 7741/7276 resp. Three +WWs can give about 7620, 7647 (if above 7444) and 7674 (if above 7515) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7367 (if below 7515) (-WWs with lower targets are not mentioned as of now). A falling wedge can give about 7600 if nifty continues to go up while an IHnS can give about 7635.

Nifty rose fell after a gap up open but closed above 7550. Volume was -ve and we may see some fall before further rise. Only sustained buying will yield effects of bullish div. Nifty must close above 7569/7612 to begin with while a close below 7436 can cause a fall again. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #4   PostPosted: Tue Feb 02, 2016 8:38 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (03/02/16) and beyond

Supports are at about 7446/21/05, 7394/76/56/33 and 7319 while resistances are at about 7490, 7517/48/90, 7600/28 and 7638. Unfilled gaps on higher/lower sides are at about 7741/7276 resp. Two +WWs can give about 7573 (if above 7455) and 7616 (if above 7404) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7354 and 7333 (-WWs with lower targets are not mentioned as of now).

Nifty tanked suddenly in the afternoon on global clues and is threatening lower levels. Persistent +ve and bullish div can help only if sustained buying emerges. Nifty must close above 7569/7612 to begin with while a close below 7436 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #5   PostPosted: Wed Feb 03, 2016 7:54 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (04/02/16) and beyond

Supports are at about 7342/32/23/05 and 7210 while resistances are at about 7380, 7407/49/55, 7517/28/43 and 7555. Unfilled gaps on higher/lower sides are at about 7456/7276 resp. Two +WWs can give about 7426 (if above 7348) and 7603 (if above 7433) (+WWs with higher targets are not mentioned as of now). A -WW can give about 7324 (-WWs with lower targets are not mentioned as of now).

Nifty fell in spite of a big gap down open and closed above 7350 and further fall is imminent. Daily candle can be a morning star or an island if Thursday is a strong green candle, preferably with a gap up open. Persistent bullish div can help only if sustained buying emerges. Nifty must close above 7425 to begin with while a close below 7351 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #6   PostPosted: Thu Feb 04, 2016 6:30 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Friday (05/02/16) and beyond

Supports are at about 7373/56/38/14/00 and 7210 while resistances are at about 7432/55, 7503/17/36 and 7596. Unfilled gaps on higher/lower sides are at about 7456/7276 resp. Two +WWs can give about 7454 (if above 7344) and 7474 (if above 7337) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7346 and 7311 (-WWs with lower targets are not mentioned as of now).

Nifty fell sharply after a big gap up open but recovered to close just above 7400. Daily candle is a doji indicating uncertainty but volume was +ve suggesting possible consolidation. Persistent bullish div can help only if sustained buying emerges. On daily basis, nifty must close above 7425/38/56 while on weekly basis, it must close above 7423 and 7564. A close below 7351 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #7   PostPosted: Sun Feb 07, 2016 8:35 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Monday (08/02/16) and beyond

Supports are at about 7449/26, 7395/77/38/25 and 7292 while resistances are at about 7508/29/45/66/96 and 7606/28. Unfilled gaps on higher/lower sides are at about 7741/7404 resp. A +WW can give about 7668 (if above 7411) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7433 (if below 7518) and 7297 (if below 7535) (-WWs with lower targets are not mentioned as of now). An IHnS can give 7815 if nifty breaks out above 7605.

Nifty rose sharply after a gap up open and closed well above 7450. Daily volume was strong +ve but weekly candle and volume was not good suggesting possible consolidation. Persistent bullish div can help only if sustained buying emerges. Nifty must close above 7564 while a close below 7361 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #8   PostPosted: Mon Feb 08, 2016 7:17 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Tuesday (09/02/16) and beyond

Supports are at about 7353/46/26/16, 7296/78/69/27 and 7210 while resistances are at about 7402/19/24/68/83/93, 7518/39/59/73 and 7596. Unfilled gaps on higher/lower sides are at about 7741/7361 resp. A +WW can give about 7538 (if above 7340) (+WWs with higher targets are not mentioned as of now). Three -WWs can give about 7302, 7284 and 7267 (-WWs with lower targets are not mentioned as of now).

Nifty fell sharply again and closed below 7400. Daily candle is bearish engulfing. However, volume was not commensurate with the fall and money flow looks satisfactory. Hence, further fall may be limited. Persistent bullish div can help only if sustained buying emerges. Nifty must close above 7490 to begin with while a close below 7361 can cause more fall. Global and local eco-political events can have a bearing on how nifty moves in short term.
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vinay28
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Post: #9   PostPosted: Tue Feb 09, 2016 6:42 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Wednesday (10/02/16) and beyond

Supports are at about 7276/64/48/27 and 7209 while resistances are at about 7319/50/73 and 7483. Unfilled gaps on higher/lower sides are at about 7388/7229 resp. A +WW can give about 7554 (if above 7295) (+WWs with higher targets are not mentioned as of now). Two -WWs can give about 7260 and 7232 (-WWs with lower targets are not mentioned as of now).

Nifty opened down with a huge gap but then remained in a narrow range to close just below 7300. Daily candle is like a morning star, which will only be confirmed by a green candle, preferably with a gap up open. If that happens and there is no further fall, that would also give an island reversal and/or abandoned baby bottom. There is a +ve div on lower TFs and we may see some recovery. Persistent bullish div can help only if sustained buying emerges. Nifty must close above 7490 to begin with while a close below 7229 can cause more fall. Tuesday was a NR29 day and we may see big moves in few days. Global and local eco-political events can have a bearing on how nifty moves in short term.
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chandrujimrc
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Post: #10   PostPosted: Wed Feb 10, 2016 12:54 pm    Post subject: Reply with quote

Dear Nifty Shorters,

Be alert,keep strict s/l,mkt in +ve divrg with double bottom,any time we can expect sharp reversal.This is my view only.
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amitagg
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Post: #11   PostPosted: Wed Feb 10, 2016 1:03 pm    Post subject: Reply with quote

And u are mostly right since u post only when relevant ( always near tops and bottoms ) and far and few between
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vinay28
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Post: #12   PostPosted: Wed Feb 10, 2016 8:01 pm    Post subject: Reply with quote

This is just a personal view and neither a recommendation nor a tip nor an advice for any trade.

Nifty for Thursday (11/02/16) and beyond

Supports are at about 7209, 7169/25/03 and 7080 while resistances are at about 7225/42/72, 7319/62 and 7390. Two unfilled gaps each on higher and lower sides are at about 7388/7299 and 713/7014 resp. Two +WWs can give about 7257 (if above 7176) and 7614 (if above 7199) (+WWs with higher targets are not mentioned as of now). (-WWs with lower targets are not mentioned as of now).

Nifty fell even after a huge gap down open and closed just above 7200 but at a new 52 week closing low and looks ominous. There is +ve as well as bullish div but only a sustained buying can take market up e.g. for a pre-budget rally. Nifty must close above 7490 to become bullish in short term. There is no nearby support on a closing basis. Global and local eco-political events can have a bearing on how nifty moves in short term.
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apka
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Post: #13   PostPosted: Thu Feb 11, 2016 3:18 pm    Post subject: Reply with quote

What a freak show Smile

I had taken Feb 6900pe in Jan start luckily... Getting nice value today... 800 points down nifty since then.

When was the last time nifty fell this much ?
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vinay28
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Post: #14   PostPosted: Thu Feb 11, 2016 4:03 pm    Post subject: Reply with quote

apka wrote:
What a freak show Smile

I had taken Feb 6900pe in Jan start luckily... Getting nice value today... 800 points down nifty since then.

When was the last time nifty fell this much ?


apka, my one level of 6960 posted many months ago came though I wasn't much short like you. AT BO can retrace to its BO level of 6330 also and perhaps lower too.

Nifty baby, at which level will you halt?
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apka
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Post: #15   PostPosted: Thu Feb 11, 2016 4:12 pm    Post subject: Reply with quote

I think testing of 6400-6500 is going to happen... Ie test the previous all time high level
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