Nifty spot view after monetary policy

We may see level of 7470 below 7665, as its Head & shoulder breakout on daily chart

Short below 7665 spot with sl 7775 for traget 7470(Positional)

Nifty technical view for 24th Feb, 2016

Today Nifty opened flat to negative at 7237.75 and made high of the same, since morning have seen extreme pressure in nifty, In first 10min nifty breaks yesterday's low of 7211 slipped below 7200 in early trade & 7100 till 2nd half, At the end Nifty closed with -125pts to 7109 levels.

For tomorrow trend remains Negative till it sustains below 7151 levels, down side nifty may take support of 7090 or 7064, Swing trader can hold short position with stop of 7151 & positional trader can hold short position with stop of 7245, one should initiate long position above 7151 with stop of 7090.

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Nifty technical view for 23rd Feb, 2016

Today Nifty opened flat to positive about 10pts to 7221, and Nifty was in narrow range of almost 50pts in day, on down side Nifty couldn't sustains below previous day close, made low of 7211 levels, above side nifty manage to sustains above previous days high of 7237, made high of 7257 in futures, since 3 trading sessions we are seeing profit booking from higher level, and continuous making higher top higher bottom formation on daily chart, that indicates Bulls are ruling the market. At end nifty closed with gain of 26pts to 7238 levels.

For tomorrow trend will remains Positive till it sustains above 7150 levels, above side we may face resistance of 7300 due to expiry(7300 CE having OI of 65lacs), Swing traders can hold position with stop of 7150 & Positional traders can hold longs with stop of 7125 in futures. If above side nifty manage to cross & sustains above 7300 levels, than we may expiry around 7300-7400.

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Nifty Trading strategy for 22nd Feb, 2016

Yesterday Nifty opened almost flat to negative at 7164 levels, In first half we had seen Nifty trading lackluster with low volume below 7200, In second half have seen sharp rally with good volume & Nifty manage to cross previous day's high of 7225, made new high of 7236, from last few days Nifty making higher top higher bottom formation that confirms bullish trend, and finally Nifty manage to close above 7200 at 7205 levels in future.

For Monday, trend will remains Positive till it sustains above 7120 levels in futures, above side major resistance will be 7241(As discussed in previous post), above 7241 we may see level of 7327 levels in some days or intraday, swing traders can hold long position with stop of 7120, and positional traders can hold long position with stop of 7090.

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Nifty trading strategy for 19th Feb, 2016

Today Nifty opened gap up by 45pts to 7175 level, crossed major resistance level of 7208 and made of high of 7225 in futures, we have seen some pressure above 7200 levels, market dragged to 7126 levels to fill the Inraday gap, we have also seen market couldn't sustains below yesterday high of 7134, that's very much positive indication for buyers. and at the end nifty closed at 7183 which is above Intraday weighted average of 7178.

For tomorrow trend will remains Positive till it sustains above 7100 levels in futures, Swing traders can hold long positions with stop loss of 7120, & positional traders can hold position with stop loss of 7000 on closing basis, above side we have major resistance at 7241(i.e. 50% of current correction starts from 7606 to 6875), above 7241 we may level of 7327(refer chart) in few days.

Support - 7240, 7285
Resistance - 7120, 7075

  

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Nifty trading strategy for 18th Feb, 2016

Today Nifty opened with negative bias and breached levels of 7000 in early trades, made low of 6967, than we have seen sharp upward tick towards morning high of 7062 with help of banking shares, and positive momentum continued for rest of the day, finally Nifty manage to close at 7132 level which is yesterdays second half high. overall today nifty was very volatile.

For tomorrow trend for Nifty will be positive If manage to sustains above 7100 in futures, we may see level of 7200 by tomorrow if its cross 7160 levels, swing traders can hold nifty long position with stop loss of 7020 & positional traders can reverse position above 7208 levels. for long term Nifty will be range bound till its in range of 7000 to 7200, closing below or above will decide further direction.

Support - 7020, 6970
Resistance - 7160, 7200

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Nifty trading strategy for 17th Feb, 2016

Today Nifty opened gap up by 50pts to 7200 levels, but as discussed yesterday couldn't sustained above 7206 level in early trades & we saw pressure from higher levels, In second half nifty extends losses due to heavy selloff in all the sectors leading by PSU banks, at the end Nifty closed negative by 1.56% at 7050 below yesterdays low of 7059 levels.

For Tomorrow Nifty trend remains Negative till it sustains below 7130, Swing traders can initiates short position with stop loss of 7130, Positional traders can hold short position with stop loss of 7210 which is today's high, Down side support will be 7030 levels as discussed yesterday, once that level broken we may see level of 7000 or below in intraday. otherwise range will be 7000 to 7200 for near term. we may see trend based market once mentioned range will be broken.

Support - 7030, 7000
Resistance - 7130, 7210

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Nifty trading strategy for 16th Feb, 2016

Today Nifty opened gap up with positive global cues by 85pts to 7080 level, and extends positive momentum through out the day, In first half Nifty succeeds to cross 7127 (i.e. 38.2% of current correction starting from 7535 to 6875), we have seen some profit booking in longs at level of 7200 in last hour. Finally end up with 168pts gain at 7158.

For Tomorrow, If Nifty crosses & sustains above 7206 levels (i.e. 50%of current correction starting from 7535 to 6875) it will be in positive trend for short to medium term & will see some huge short covering above that levels too. above side major Resistance will be 7282,and down side nifty may take support of 7030 levels.

Positional traders can hold short position with stop loss of 7285 in futures.

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Nifty future strategy for 12th Feb, 2016

Today Nifty opened gap down by 40pts to 7205 level, extends looses due to global selloff across the market, finally closed at 6980 down by 3.65%, Nifty closed  below 7000 first time since May-2014.

On monthly chart Nifty breached important support level of 7119 that was 50% Fibonacci retracement level from low of 5118(August 2013) to 9119(March, 2015). Below 7119 nifty may fall to 6646 level in medium term view. Strategy should be Sell on every rise with stop loss of 7125 on closing basis. For target 6650 level. Nifty has corrected more than 7% in last 4 sessions, so we should wait to market get settle down before create fresh short position.

Support – 6900, 6845 Resistance – 7080, 7120

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Nifty Future strategy for 11th Feb, 2016

Today Nifty opened gap down by 60pts to 7270 level, and made high of 7293.35 that is below yesterdays low, during the day nifty was trading in range of 7200-7300, we have seen some short covering  around 7200 levels, finally Nifty manage to close above intraday ATP(average traded price) 7251.

Nifty future has corrected almost 4.5% from 7534 to 7200 in just 3 sessions. Risk reward ratio is in favor bulls, it’s time to book profit in shorts. Swing traders can Buy Nifty future above 7295 that today’s high. In short term trend will be Positive above 7300 level in futures, with strict stop loss of 7190 for target of 7365 and 7425. Fresh short position can be initiated only if nifty sustains below 7190 for target of 7121 in futures.

Support – 7190, 7155 Resistance – 7300, 7365

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Nifty future strategy for 10th Feb, 2016

Today Nifty opened gap down by 85pts to 7305 level, and during the day Nifty was consolidated between narrow range of 7300-7350, we have seen some profit booking between those levels too. And finally end up closing above 7300 level, overall the day was boring.

For tomorrow If Nifty manage to cross 7375 level in future we may see some short covering from those levels, for swing traders  time to book profit above 7375 in futures  & initiates some longs with Stop loss of 7290. We may see 7440 upper side, Trend will remain Negative till it sustains below 7375. For down side if nifty manage to break 7290 levels, 7204 will can’t rule out for short term or intraday itself.

So, it’s advisable to book profit above 7375 levels in future, or hold short below these.

Support - 7250, 7210 Resistance – 7375, 7424

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Nifty future strategy for 9th Feb, 2016

Today Nifty opened gap down by around 30pts to 7485, and took support of yesterday’s 2^nd half low that is 7470, and bounce back to yesterdays High that is 7529 and mange to cross with good volume, despite of closing most of the Asian market today, nifty gained sustained till 2^nd half.

After 2PM heavy selloff came from FII or/& DII, Nifty future crossed yesterday’s low of 7225 in panic with unexpected volume, and end up below 7400 due to global selloff.

For tomorrow (9^th Feb, 2016) trend remains Negative, If Nifty future opens below 7375 and sustains that level till noon, and we may see more selloff during day or at the end. Or If Nifty opens above 7400 level and sustains again we may see 7500 level in Intraday with short covering, for Positional or swing traders buy Nifty fut only above 7535 or else remains short with Stop loss of 7535.

Now Major support at 7335 – 7250 & Resistance 7537 – 7605

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How to Multiple money in options trading

I would like to share trading strategy in Nifty options, and made handsome money with it so Its my immense pleasure to share with you friends, If you like or have any query please do comment.

Please find the below Nifty Daily chart (Heiken Ashi)

In above chart you find 2 types of Arrows, Green arrow with upward direction & Red Arrow with downward direction,

In above chart Buy At the money call options once Heiken Ashi candle turns Green from Red in daily chart

And, Buy At the money put options once Heiken Ashi candle turns Red from Green.

Rules are-

• Buy/sell confirmation accurately comes at the end of the day(So, wait till the end of the trading day & take options).
• Book 50% profit If options premium gets Doubled.
• stop loss will be low of previous candle.    

Benefits are-

• This strategy gives you Short to Medium tern trend
• Trading in options are always safe & hassle free
• No large amount of capital requires
• You can also hedge against your Future position or Portfolio.  

This strategy requires minimum Rs. 10,000/- capital to buy at the money options,

I am trading with this strategy from last 2 years, and earned very good amount returns. 

If you have any questions regarding the strategy please do comment, I will reply ASAP.

Thanks for visiting my blog, All the best.  

Nifty Strategy for 8th Feb, 2016

Buy Nifty future above 7530 stop loss 7400 target 7700

Sell Nifty future below 7465 stop loss 7530 target 7400

To know more about Nifty strategy contact on mayankrjoshi@gmail.com