Nifty for the week April 18 2016 to April 22 2016

The benchmark index of Indian stock market, the Nifty did break the crucial resistance of 7755 as it came roaring in the previous session, taking most traders in surprise. Now the immediate support for day traders is at 7843 and the previous resistance, 7755 may be construed as crucial support now for the week. If 7755 support holds then one may expect Nifty to aim at 7955 and then 8240. On the other hand if 7755 is breached then the next supports are at 7649, 7580 and 7222. It may also be kept in mind that the markets will remain closed on Tuesday April 19.

If the Nifty trades above 7843 in the opening hour the the day traders may go long with stop loss at 7825 to book profit at 7880. Otherwise, i.e. if below 7825, then they may consider shorting Nifty to cover at 7795.

The short-term traders may ride their longs and add more positions in case of weakness with stop loss at 7635.

The mid-term investors may continue selling in small lots of 10% of their holdings on every advance. They may offer Asian paints at 893.25, Grasim at 4195.55, HDFC Bank at 1102.95, LIC housing at 493.25 and Goldman Sachs Nifty ETF at  809.11.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader.

Nifty for April 12 2016

The Nifty displayed quite a strength in the previous session but it fell short of conquering our specified resistance of 7685. The new resistance is at 7677 which if conquered will see the benchmark index move towards the next resistance of 7760. However, it may be kept in mind that one may not keep the positions open and probably try to book profits in case of a rise on the April 12 2016 session as the markets will remain closed on long weekend starting April 14 to Sunday the April 17. 

The day traders may trade long with stop loss at 7620 to unwind at 7701. However below 7615 they may short to cover at 7585.

The short-term traders may also trade likewise.

The mid term investors may try selling the key stocks- Grasim at 4048, HDFC Bank at 1093.85 and LIC housing at 491.10.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader 

Nifty for the week April 11 2016 to April 13 2016

The upcoming week is a truncated week on account of holidays on April 14 2016 and April 15 2016.

As if following our blog, the Nifty did behave very much in expected lines in our previous weekly post. The benchmark index failed in conquering the resistance of 7755 and the support of 7547 too held on concluding basis.

The immediate resistance is at 7685 and then at 7755. The immediate support is at 7547 which if broken on closing basis will see Nifty gravitate towards 7189. The traders and investors may stay nimble footed and sell on rise as well as buy to falls.

The day traders may go long if the Nifty trades above 7575 to unwind at 7605. Other wise they may short Nifty if it trades below 7547 to cover at 7511.

The short term traders may if the Nifty breaks the support of 7547 in closing basis, go short for a possible target of 7401.

The mid-term investors may consider buying adding Grasim to their portfolio in case of weakness for a possible target of 4100.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader 

Nifty for the week April 4 2016 to April 8 2016

As we had pointed it out in our previous weekly post, the resistance of 7755 did indeed prove to be strong enough to be conquered, inspite of the concerted effect of end of financial year and March series. 

7755 still continues to be a strong resistance which, if conquered will see the benchmark index test the next resistances of 7956 and 8073. The immediate support is at 7656, 7547 and 7189.

The day traders may go long if the Nifty trades above 7706 to book profit at 7735 and 7776. However, if it slips below 7687, then they may short the Nifty to cover at 7663.

The short term traders may continue to add long positions in case of weakness with stop loss at 7545.

The mid term investors may consider buying LIC housing at 476.85 with stop loss at 470.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader 

Nifty for April 1 2016

The markets are expected to open on a weaker note with immediate resistance at 7750 and immediate support at 7720.

The day traders may go long if the benchmark index trades above 7750 in opening moves to unwind at 7775 and go short if it trades below 7720 to cover at 7685.

The short-term traders may consider going long in HDFC Bank with stop loss at 1030 for a possible target of 1148.

The mid-term investors may consider buying Hero Motors at 2915.15 and 2884.35 in small quantities. They may also consider buying Grasim at 3810.25.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader

Nifty for March 31 2016

The settlement day of F&O series of March 2016 has finally arrived. The fund managers in their concerted effort to boost up their AUMs on a YTD basis along with F&O traders lifted the benchmark index above the 7700 mark. 

What remains to be seen is whether the Nifty stands above 7685, in which case the next resistance is at 7950. However, if it slides below 7685 then it will head towards the support of 7643, which if broken will see it gravitate towards 7536.

The day-trades may go long if it trades above 7700 to book profit at 7770. However, if it trades below 7685 then they may short Nifty to cover at 7645.

The short-term traders may consider booking their profits, in case if they had gone long as per our advise in Nifty in April series and go long in case of weakness.

The mid-term investors may consider exiting their positions in Asian Paints successively at 899.25 and 913.75. They may also sell Goldman Sachs Nifty ETF at 807.74. They may consider buying Grasim at 3808.45 and Hero motors at 2892.55 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader

Nifty for March 30 2016

The market in the previous session behaved very much in expected lines in view of the settlement of F&O series of March which is due on March 31 2016. It remained volatile bobbing up and down and up and down before closing at almost near the lowest point.

The day traders may go long only if the Nifty stands above 7630 to book profit at 7650. They may short Nifty if it trades below 7610 to cover at 7570.

The short term traders may consider taking long positions in Nifty for April series in case of weakness with stop loss at 7536.

The mid-term investors may consider buying Grasim at 3745 and 3720 in small quantities.

Disclaimer: The writers of this column do not personally hold any stock or position in the F&O market and do not intend to benefit in any way by publishing this column. The final discretion is that of the reader and we disown any responsibility for any loss incurred by the reader