24TH NOVEMBER NIFTY VIEW.

In today's trading, Nifty Future opened weak and maintained downward bias and precipitated in to a sharp fall due to problems in Korea. While we are still not done with our own 2G Scam, the market in now faced with an international problem. This pulled market down to a new low of 5822 and there after saw a sharp up move of almost 100 points (due to trend line support on the EOD chart) to close the markets at 5941. We still have to contend with a lower top and lower bottom for the day and also a lower low on the weekly chart. From today's movement, it appears that we will soon see the much awaited 5750 level to complete the pattern target .

For tomorrow, one should consider going short below 5900 with stop loss of 5940. On the down side if it breaks 5820 it will quickly go down to 5725-5750 levels. With just a day left for the FNO settlement, it would be better to create fresh long position at this level in the Dec FNO series. However, it should be noted that if the trend line is broken, Nifty Future will get weak and hence any buying at the support levels, should be bought for pullback only. It will be prudent to square of the positions intra day.

On the higher side. 6000 will provide strong resistance and it is best to avoid long positions at higher levels.

For investment buying - let the market give the signals to indicate that we are done with the downside.

All the best

12TH NOVEMBER NIFTY VIEW.

In yesterday's trading, Nifty Future opened at yesterday's level and managed a high of 6321 in early trades. Thereafter, it maintained a downward bias and saw a sharp fall in the 2nd session to a low of 6209 and closed at 6233.

Please note that 6180 - 6200 range is a good support area. Coupled with that, Friday effect tomorrow may help Nifty Future to bounce back to 6280, hence at lower levels - be cautious of short positions.

In case Nifty Future breaks 6180 level, it will find support at 6155 - 6125 and 6100. Unless there are some external events, I don't think 6180 will be broken tomorrow, in view of the multiple supports as indicated above.

All the best,

11th NOVEMBER NIFTY VIEW.

In yesterday's trading, Nifty Future did not open strong as expected. Instead, it ended up trading in a narrow range of just 37 points (High 6332 & Low 6295) and closed at 6308. Thus Nifty Future has remained listless and giving no direction.

In view of the above, I would caution not to become too bearish too early, because we still remain in the bull grip and hence after a few days of sideways movement, Nifty Future may continue the upward march. At this stage, I would like to remind the readers that we have made a new top only in Nifty Future that too due to higher premium over the spot and to mark the festival mood during the muhurat trading. Neither Nifty Spot nor Sensex has been able to achieve this milestone as yet and considering the set up, the possibility of Nifty Future attempting 6400 can not be ruled out.

I would maintain my yesterday's guidance of going long only above 6360 with stop loss of 6330 and target of 6400.

Short position may be taken below 6290 with stop loss of 6340. On the down side it will find support at 6250 and 6200.

What is stated above, may not give you trades (and therefore less excitement/anxiety), but in my view, it will be better to sit on the side lines, when market is in a narrow range.

All the best.

10th NOVEMBER NIFTY VIEW.

After a firm opening, Nifty Future remained weak till the mid session and made a low of 6262. Thereafter, it made a sharp up move to make a high of 6347 and closed firm at 6333 - near the high of the day. Thus, firm opening today almost certain.

Today, one can consider going long above 6360 with a strict stop loss of 6330. On higher side, it will find major resistance at 6400. In the event, Nifty Future does come down after making a top around 6400, one can consider going short once Nifty Future starts trading below 6360 with stop loss just above the day's top. I am indicating bearishness, in view of divergence on the EOD chart.

All the best.

09th NOVEMBER NIFTY VIEW.

In yesrterday's trading, Nifty Future opened steady, but could not sustain at higher levels and made a low of 6282 and remained sideways to close at 6297. Reliance provided the support to Nifty Future from falling too fast. The days close is near the low of the day, suggesting weak opening for today

For today, short positions may be taken with stop loss of 6340. On the lower side, it will find support at 6250 and strong support at 6200. I would continue to suggest that please avoid long positions for now and simultaneously caution that short trades too may be squared off at the support levels.

All the best.

MUHURAT TRADING NIFTY VIEW.

WISHING YOU ALL

A VERY HAPPY DIWALI

AND

A PROSPEROUS NEW YEAR.

NIFTY FUTURE:

As anticipated, higher listing of Coal India led to jubilant mood and took Nifty Spot above the previous week's high, though Nifty Future remained short of crossing the previous week's high of 6318.

With US markets trading up we should see a muhurat trading tomorrow, wherein we will cross the previous top of 6336.

The key hurdle now remains is 6400.

enjoy the good times and enjoy Diwali !

ALL THE BEST.

4TH NOVEMBER NIFTY VIEW.

In today's trading, Nifty Future opened with a gap but remained largely sideways there after. The day's high and low were 6215 and 6176 respectively (39 points range). suggesting indecisiveness. On the other hand Bank Nifty Future made a new 52 week high and closed at higher levels - suggesting strength.

Nifty Future remains high but lacks strength. May be Coal India listing tomorrow may provide the necessary guidance to the market and help decide the direction.

As we are near the higher resistance levels, i would not recommend fresh long positions - though I must add that listing of Coal India at higher premium may definitely help the sentiment - particularly when we are in the celebration mood on account of Diwali.

Short positions may be taken below 6170 with stop loss of 6215. On the lower levels, it will find support at 6150 and 6100 levels.

Considering the narrow range it is best to spend more time on celebrating Diwali and take time off trading - at least till this weekend.

All the best.