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.

3rd OCTOBER NIFTY VIEW.

In yestarday's trading Nifty Future traded in a narrow range with the day's high of 6174 and the day's low of 6128. On the 30 min chart I have shown a trend line which is acting as resistance for Nifty Future.

For today, one can consider going long with a stop loss of 6130. On higher side, it will find resistance at 6185 - 6210 and 6250.

Short position should be considered below 6130 with a stop loss of 6160. On the lower side, it will find support at 6100 and 6075.

All the best.

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