Nifty option trading

[manojborle]

hurdles done now next hurdle @ 5678 for spot

made 2 attempts to take out 5678 and halted near 5673, normally if 2 attempts are failed market will do the opposite.
So chances of some downward movement can not be denied.
I feel 5678 will be taken out after 3 pm.
Keep watching....

 

[manojborle]

Now the main question is will this rally continue till Monday?? Should I be invested till Monday or book profit??

The rally should continue till nifty reaches 5800, major resistance @ 5755...

 

[Stock trendy]

Ganesh Chaturthi 9th September2013 Market closed on Monday
Ganpati Bappa Moriya

Greeting on Ganpati Festival to all dear TJ Friends..

 

[manojborle]

Now the main question is will this rally continue till Monday?? Should I be invested till Monday or book profit??

Monday is a holiday, please hold accordingly.

 

[manojborle]

made 2 attempts to take out 5678 and halted near 5673, normally if 2 attempts are failed market will do the opposite.
So chances of some downward movement can not be denied.
I feel 5678 will be taken out after 3 pm.
Keep watching....

As expected 5678 broken after 3 pm , enjoy...

 

[manojborle]

Now important question is whether it will be able to close above 5678 ?

 

[manojborle]

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Today nifty Gapped open and exactly at our Supply line and above the fib level of 5543 and managed to trade above it, So this will again become a valid Breakout for which the targets are given in the chart.
If the level of 5543 holds then the next fib level of 5805 is the target and breakout target is also 5815.
Now we have 2 demand pivots also so you can see the Demand line also in chart.

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Update to prev session:
As mentioned Nifty continued its upward journey and closed exactly near 5678(Hurdle I had mentioned today).
As it has already given 2 closes above the fib level of 5543, now the next level 5805 will be targeted.
Meanwhile 5755 will be a major resistance.

Thank you...

 

[Stock trendy]

We are very near to Big Res. Spot level of 5720 to 5760.. there is all the possibility Price may retrace to the levels of 5630. 5600 but at any point close below 5600 all lower level targets are open up to.5500. Anything below this is signals a big swing down to break 5300 level. As of now trend is at exact Flash Point meaning break out of 5750 and sustains huge upside targets are possible fail to cross and close lower levels are still open. Sl for positional long should be at around 5500 and short sl at 5750. spot nifty on closing basis.

 

[manojborle]

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Update to prev session:
As mentioned Nifty continued its upward journey and closed exactly near 5678(Hurdle I had mentioned today).
As it has already given 2 closes above the fib level of 5543, now the next level 5805 will be targeted.
Meanwhile 5755 will be a major resistance.

Thank you...

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Weekly analysis

 

[Stock trendy]

Thehindu Businessline

Nifty (5,680.4)

The extremely bearish view that emerged towards the end of last week has mitigated. But it has not reversed. The rally to 5,688 implies that the risk of an immediate collapse to 4,887 and 4,515 is not present.

But investors still need to tread cautiously as the index is poised just below the critical Fibonacci resistance level at 5,720.

If the index wobbles around this level, it will mean that the outlook remains under a cloud. The routes that the Nifty can take in the week ahead and its implications are as follows,

If the index reverses from the 5,700 to 5,750 resistance, it can move down to 5,470 or 5,338.

A rebound from either of these levels will mean that the index can move higher towards 6,000 over the medium-term.

Decline below 5,338 will mean that the downtrend that commenced from the 6,093 peak has resumed that can drag the index down to 5,120 or even below.

Strong move above 5,750 is needed to make the short-term view positive again. Subsequent targets are 5,780 or 5,840.