NIFTY Trade Plan-Week 25-Jan-2016Market Bytes 25-Jan-2016
Nifty Futures: or Friday we had discussed that for the first time "Downside short Risk for the first time looks to have a lesser rewad versus a pull back long" and what a pull back was that. we had mentioned that 7270 will be the key and above that usides targets are 7340 and 7420. markets exactly did both the targets. Coming to the current session,7400-10 will be the key trend decider levels. If markets manage to hold above this expect some more upside and a test of 7470 levels and above that 7530 will hold a key hurdle. On the downside a contrarian short trade below 7400 can go on to test 7350-60 levels. Expect to be a less volatile session as we close in towards expiry and also a holiday next day.
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Sensex
NIFTY Trade plan Week-19 JanNifty Futures: On the note for 13th we had discussed that 7440 and 7350 are downside swing targets. Both The targets are done. This will be a key zone to watch out for now. Further shorts if any has to be taken with caution. Best would be to rather wait for pull backs. 7580 and 7700 are the upside hurdle zones and trades can be taken at those levels based on price action. On the downside a sustained move below will call for fresh shorts. ALso for the contrarian i beleive this is the first contrarian opportunity for trading a pull back in these zones. On the downside strong swing supports are at 7100 levels.
NIFTY Trade plan week 11 Jan 2016Nifty Futures: NIFTY while it managed to hold on to to the 7580 levels and staged some sort of a pull back, weak global cues will mean we may now crack that level and open below it. It will be importanat to see if NIFTY futures manages to stay and trade below 7550 in that can the levels of 7580-50 now can be used as a stop for a fresh trade on the downside with targets of 7440 and 7280 on the downside. on the upside if it manages to hold 7550 then a low risk pull back can be initiated.
NIFTY Trade Plan-Week 7 JanNifty Futures: NIFTY Future managed to latch on to the 7750 levels that we discussed yesterday . But it did provide two trade opportunites as per the plan one was short from 7840 levels and the other a pull back trade frm 7760 levels. The pull back short also provided a good swing short trading opporunity with low risk. for intraday traders 7750 will hold the key, if markets hold below it expect downsides to be tested. While swing positions will continue for intra traders next levels will be 7705 levels. if trading below it can take fresh shorts with downside targets of 7550-80 levels.
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