Nifty And Bank Nifty Analysis For 31st January 2012

Towards upside bulls can target 5260-5350-5400 levels and towards downside 5120-5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 4950 is protected.I am anticapting wave -4 correction  may go to 5053/4950 .However overall trend to remain bullish once 4900-4950 is protected.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory and Given bearish reversal on daily chart . 


Pattern : Impulsive 5 wave pattern . Wave-3 completed. Wave -4 started (may go back to 5053/4950 )


Position: Price cluster exit at 4980 ,5100 and 5220-5240.


Action : Trade management  => If pullback happen, exit 1 lot @ 5100 and keep another lot with stoploss of 5200(TRT).  


Potential Trade setup: 
1.SAR 5045-5065 


Follow up SAR trade (ST)
1. No Trades 


Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= 20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (Open)

Nifty And Bank Nifty Analysis For 30th January 2012

Towards upside bulls can target 5260-5350-5400 levels and towards downside 5120-5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 4950 is protected.Buying at Higher level is strict "No" considering Daily and Weekly "OB" Condition.I am anticapting wave -4 correction  may go to 4950 .However overall trend to remain bullish once 4900-4950 is protected. 


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 


Pattern : Impulsive 5 wave pattern . Wave-3 is in progress. Wave -4 will start (need follow up to confirm - may go back to 4950 )


Position: Price cluster exit at 5100 and 5220-5240.


Action : Profit booking and closed all long position. 


Potential Trade setup: 
1. SAR 5055-5065 Bullish 
2. Sell can be done near 5220 level with stoploss 5250 (TRT)




Follow up SAR trade (ST)
1. No Trades 


Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= 20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (Open)

Nifty And Bank Nifty Analysis For 27th January 2012

5053 and 5063  are two line of defense for bulls. Buying at Lower level is suggested. Towards upside bulls can target 5100-5140-5220 levels and towards downside 5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 4950 is protected.Buying at Higher level is strict "No" considering Daily and Weekly "OB" Condition.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 


Pattern : Impulsive 5 wave pattern . Wave-3 of 3 is in progress.


Position: Price cluster exit at 5100 and 5220-5240.


Action : Profit booking and Holding  minimum long position. 


Potential Trade setup: 
Sell can be done near 5220 level with stoploss 5250 (TRT)


SAR trade (ST)
1. No Trades 


Trend reversal trade (TRT)
1. Sell 5140 Stoploss 5160 -Stop out (loss= 20 points)

Nifty And Bank Nifty Analysis For 25th January 2012

5053 and 5063  are two line of defense for bulls. Buying at Lower level is suggested. Towards upside bulls can target 5100-5140-5220 levels and towards downside 5073-5065-5053-4980-4900 -4840
would be support.Momentum to remain bullish once 4950 is protected.Buying at Higher level is strict "No" considering Daily and Weekly "OB" Condition.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 
Pattern : Impulsive 5 wave pattern . Wave-3 of 3 is in progress.
Position: Price cluster exit at 5100 and 5220-5240.
Action : Profit booking and Holding  minimum long position. 


Potential Trade setup: 
Suggested : Sell can be done near 5100 level with stoploss 5120 Target 5000. 


Actual Sell done at 5140 Stoploss 5160 Target 5073-5050. Sell @ 5100 was avoided because bearish reversal happened at 5140 level.

Nifty And Bank Nifty Analysis For 24th January

4980 and 4883  are two line of defense for bulls. Buying at Lower level is suggested. 
Towards upside bulls can target 5100-5140-5220 levels and towards downside 4980-4900 -4840
would be support.Momentum to remain bullish once 4900 is protected.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 


Pattern : Impulsive 5 wave pattern . Wave-3 of 3 is in progress.


Position: Price cluster exit at 5100 and 5220.


Action : Profit booking and Holding  minimum long position. 


Potential Trade setup: Sell can be done near 5100 level with stoploss 5120 Target 5000. 

Nifty And Bank Nifty Analysis For 23rd January

4980 and 4883  are two line of defense for bulls. Buying at Lower level is suggested. 
Towards upside bulls can target 5100-5140-5220 levels and towards downside 4980-4900 -4840
would be support.Momentum to remain bullish once 4900 is protected.


Trend/Momentum : Daily chart is  Over bought whereas Weekly chart remain bullish.Buy on bllish reversal on daily timeframe.


Pattern : Impulsive 5 wave pattern . Wave 3 is in progress.


Position: Price cluster exit at 5100 and 5220.


Action : Profit booking and Holding  minimum long position.