NIFTY OUTLOOK (27th August, 2012)

NIFTY SPOT AGAIN CLOSED BELOW TREND LINE LEVEL AT 5397: NIFTY DOING TIME PASS

The NSE Nifty spot closed at 5387 down by 0.50% on the weekend. Volume was normal, movement was fair, indicators were showing positive. In spite of that nifty spot closed below trendline level i.e. 5397 again. This seems, nifty spot is doing just time pass. Before few days, nifty crossed major trend line resistance with normal volume. It indicated about new uptrend. But now nifty is below that level, this is not the downtrend. So, medium term traders should beware from the uncertain volatility and they are recommended to be stay away for some time to save margins.

Happy Trading !!

Megha Investments & Research Team

 

NIFTY OUTLOOK (24th August, 2012)

NIFTY SPOT MADE STAR: WILL AGAIN FACE CORRECTION ?

The Nifty spot closed at5418 with normal volume. This time nifty spot made a star from the higher levels. Below nifty spot, there is a trendline support which was already indicated as 5397 and on the other hand, lower indicators are trying to make correction trend i.e. downward. This time, intraday trades are not advised to make a new position in nifty future. If there is a long position in nifty future, maintain stoploss at 5397/5374. This is fair movement about moving above daily important moving averages. Next trading session's movement will be basically on global market and upcoming news and rumors. So, Kindly be cautious about making new positions.

Happy Trading !!

Megha Investments & Research Team

 

NIFTY OUTLOOK (23rd, August, 2012)

NIFTY SPOT SUPPORTS AT 5397: NOW WHAT NEXT ?

Nifty spot closed at 5415, which is above the major support level at 5397 with normal volume. Intraday traders can buy nifty future with the support of 5397 nifty spot.  Nifty is now have a open garden till 5600 level until it doesn't break and close below 5397 with normal volume. On the other hand, stochastic is trying to maintain up trend which shows how stochastic is struggling to make bullish trend. MACD is making zig-zag pattern, first time in a year, which is not seriously giving any trend. If we look in to the support and resistances, support is defined whereas resistance will be at 5448 for next trading session.

Happy Trading !!

Megha Investments & Research Team

NIFTY OUTLOOOK (21st August, 2012)

Every Eyes On Nifty Spot: Will It Reach To 5600 ?

In previous trading session, we have seen some choppy volatility, both buying and selling pressure on uncertainty of Government and economical issues. Nifty spot closed at 5366 after touching to 5400 which was crucial level for bullish trend. But after all, Nifty spot closed below the major trend line resistance. After seeing this movement, we can't conclude this report by saying bullish trend. But it can be said that 5397 is made a very crucial level for bullish trend. If we analyze daily lower indicators, MACD is still showing upward move whereas stochastic is making zig zag pattern for uncertain trend. In next trading session, Intraday traders are advised to sell nifty future at higher levels if nifty spot opens below 5400 level. Trade in lower volume due to higher uncertainty of trading session.

Happy Trading !!

Megha Investments & Research Team

NIFTY OUTLOOK (17th August, 2012)

Nifty Spot Trying To Sustain: But Fails

The NSE Nifty spot closed at 5363 after opening below 5390 (In previous report, it was indicated as major opening level: if opens above 5390, nifty will move towards 5600). Still nifty spot is above 5 day exponential moving average and it can't be said that nifty is in bearish mood. On the other hand, is we see slow stochastic, it is in bullish phase with good buying pressure. The impact of this situation, price line should go up and break the resistances of 5390/5421. RSI, world's most popular and trusted indicator, shows the strength and closed at 63 which is still showing the up side movement of price line. On this trading session, nifty has same story as indicated in previous report. If nifty spot opens above 5390, index will be favorable for bulls till 5600 level. But at least, once nifty should break the major hurdle and close above that with normal volume.

NIFTY OUTLOOK (16th August, 2012)

Nifty spot bullish till 5600: if open above 5390

The NSE Nifty spot closed at 5380, which is a very crucial level for next day's opening. If today nifty spot opens above 5390, nifty will have a highway till 5600 level . Nifty is very bullish from some couple of days, if we see daily movement. On the other hand, stochastic is making again upward cutting move for bullish trend and another indicator, MACD is also showing strength. MACD is not showing fresh cutting upward but showing a positive indication for bulls. On this trading session, nifty can open gap up and show the buying pressure. Intraday and Medium term traders are advised to long in nifty future to make healthy profits with the support of 5257.

Happy Trading!!!

Megha Investments & Research Team