Nifty-Technical View(4-7-14)

Nifty closed at 7714.80 on 3-7-2014 

SUPPORT  :- 7700.05 / 7649.50 / 7629 / 7611.35 / 7593.35 / 7487.55 / 7481.30 / 7477/  7441.60 / 7409 / 7340 / 7263 / 7229/7200

RESISTANCE:  7754.65 / 7855 / 7990

Nifty did gave down closing as expected but the gap it made on 2-7-14 is still there and a matter of concern (gap area7649.50—7677.30) however if it does not fill the gap in another 2-3 days time then the gap will not be of much botheration because then it is expected to complete the up move first and will fill the gap in down journey . Nifty moved in the short range today and closed near the day’s low of 7706.80.Since it closed today below the previous day’s close ,it is in the process of making higher bottom on the line chart, if it closes above 7725.15 on 4-7-14 then the higher top & bottom will be established on the line chart, therefore  as of now the bench mark level for nifty is 7700.05 and then 7629 &7611.35(for the month of July-14) and the short term DMA which is placed at 7584 for 4-7-14 for  the long trades, if nifty starts trading below 7700.05 on 4-7-14 then get alerted and reduce long exposure and below 7629 & 7611.35 avoid long calls completely in nifty till it bounce back above this level again.

REMARK:-Long term trend is up and it is buy on dip market as of now, I would suggest that let the higher top and bottom be established on the line chart  till then make moderate long commitment only but avoid long trade on nifty if it starts trading below 7700.05.Trade  cautiously with an adequate stop loss. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses.

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Trading Calls For-3-7-14

Nifty-Technical View(3-7-14)

Nifty closed at 7725.15 on 2-7-2014 

SUPPORT  :- 7700.05 / 7649.50 / 7629 / 7611.35 / 7593.35 / 7487.55 / 7481.30 / 7477/  7441.60 / 7409 / 7340 / 7263 / 7229/7200

RESISTANCE:  7855 / 7990

Nifty opened with a gap up(gap area7649.50—7677.30) and  moved up steadily and made new all time high of 7732.40 during the day before closing the day near the high, it was a robust move today and it may continue, but kindly note that  it made no effort to fill the gap during the day and furthermore it is  yet to make higher bottom on the line chart therefore it may still come down on closing basis on the line chart to make higher bottom and to fill the gap also, so as of now the bench mark level for nifty is 7700.05 and then 7629 &7611.35(for the month of July-14) and the short term DMA which is placed at 7566 for 3-7-14 for the long trades, if nifty starts trading below 7700.05 on 3-7-14 then get alerted and reduce long exposure and below 7629 & 7611.35 avoid long calls completely in nifty till it bounce back above this level again.

REMARK:-Long term trend is up and it is buy on dip market as of now. I feel that nifty could give down closing on 3-7-14 to make higher bottom on the line chart and to fill the gap of today therefore I would suggest to avoid long trades on nifty if it starts trading below 7700.05.Trade  cautiously with an adequate stop loss. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses. 

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Nifty-Technical View-2-7-14

Nifty closed at 7634.70 on 1-7-2014 

SUPPORT :- 7629 / 7611.35 / 7593.35 / 7487.55 / 7481.30 / 7477/  7441.60 / 7409 / 7340 / 7263 / 7229/7200

RESISTANCE:  7635/ 7656.40/ 7663 / 7678.50 / 7700.

Nifty moved in a very short range of 31 points today, this indicate that a reasonable big move  can happen on the either side in coming 1-2 days time .Kindly note that nifty made higher top & bottom on the bar chart but yet to make higher bottom on the line chart therefore it may still come down on closing basis on the line chart to make higher bottom, so as of now the bench mark level for nifty is 7629 &7611.35(for the month of July-14) and the short term DMA which is placed at 7550 for 2-7-14 for long trades, if nifty starts trading below 7629 & 7611.35 then be alert in long trades and if it breaks 7550 today and stays then get out of the long trade in nifty.

REMARK:-Long term trend is up and it is buy on dip market as of now but since nifty has not made higher bottom on the line chart ,therefore I feel that it can give down move on the closing basis either on 2-7-14 or 3-7-14 to make higher bottom, Trade  cautiously with an adequate stop loss. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price  moves up/down to gain maximum profit and avoid losses. 

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Trading Calls For-2-7-14

Nifty-Technical View-1-7-14

Nifty closed at 7611.35 on 30-6-2014 

SUPPORT:- 7593.35 / 7487.55 / 7481.30 / 7477/  7441.60 / 7409 / 7340 / 7263 / 7229/7200

RESISTANCE:  7635/ 7656.40/ 7678.50 / 7700.

Nifty exhibited strength today and made high of 7623.65 before closing the day near the high of the day. It made higher top & bottom on the bar chart but yet to make higher bottom on the line chart therefore it may still come down on closing basis on the line chart to make higher bottom, so as of now the bench mark level for nifty is 7611.35 and the short term DMA which is placed at 7545 for 1-7-14, if nifty starts trading below 7611.35 and break the short term DMA then be alert in long trades.

REMARK:-Long term trend is up and it is buy on dip market as of now, but since nifty has not made higher bottom on the line chart ,therefore I feel that it can give down move on the closing basis either on 2-7-14 or 3-7-14 to make higher bottom,. Trade cautiously with an adequate stop loss. Kindly note that make your cost your stop loss in favorable trade and then trail it as the price moves up/down to gain maximum profit and avoid losses.

Contact me for strategic guidance to enter and exit the trade