NIFTY View For Week 28 July-1 Aug 

Last week Nifty broke all  high of 7800 and touched new high at 7840. Last day of week, Friday has seen some selling pressure. Indices (Nifty and Sensex) are registering new high, however many individual stocks have stalled their momentum or begun with the short term correction. Be stock specific, ready individual charts carefully and trade accordingly. We have F&O expiry in coming week. 

 Technical Overview:  The short term resistance which we had mentioned last week was broken by Nifty. With that movement Nifty touched all time high. Nifty is continuously making higher top and higher bottom keeping intact its bullish momentum. The good support for Nifty is in the range of 7700-7670. Weekly chart suggest possible higher moves.  

Short Term (Few days to a Week) : Last week Nifty nicely held support of 7445. Its been moving up since then. Nifty is expected to trade choppy in the coming week. Avoid trading in Nifty, be stock specific. On hourly chart a short term support emerges at 7740-7715 

Medium Term (Few weeks to a month): Daily chart suggest some selling pressure at the top. We may expect choppy market with negative momentum for next 2-3 days. The support is in the range of 7700-7670. Clear picture will emerge on the day of Expiry. You may avoid trading till then. 

Long Term (Few months to Year): Bullish view is maintained. We have been writing about buying opportunities on dip. Do not be panic by small corrections. It’s a sign of healthy market. Buy on dips for long term investing. 

Nifty Trading View: Traders may avoid trading during the week.                                                                                                                                

 View on Sectorial Indices:  

Sectorial indices seen under selling pressure are Metal, Media, Infra, Auto, Energy. However short selling may be done near resistance or should be avoided in stocks of these sectors. Pharma, IT and FMCG are offering buying opportunity.  

To receive this Newsletter by email drop us a mail on bonvistaplanners@gmail.com                                                                                                                                                                                                                                                             

Recommendations of the week: 

JUBLFOOD (Buy) Buy Jubilant Food near 1296 for Target of 1320. Maintain stop loss at 128 

PETRONET(Buy) -Buy Petronet near 184 for target of 190. Maintain Stop loss at 181 

SRTRANSFIN (Buy) - Buy Sriram Transport Finance near 860 for Target of 890. Maintain Stoploss at 842                         

For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

NIFTY View For Week 21-25 July 

This is different market. Market will find reasons to move in the direction of primary trend. We better know that primary trend is up. Good macro numbers of inflation and export has made markets bounce from the close of last week. Weak global markets could not affect Indian markets. 

 Technical Overview:  We are waiting for confirmation of a lower top on daily chart. Same is not in picture yet. The correction is not confirmed. However we can say that the markets are consolidating. Markets are now trading near a small resistance. If Nifty break this resistance we can assume level of 7800 in couple of trading days.  

Short Term (Few days to a Week) : We had said that, on hourly chart the Nifty is trading near a support at 7445. That support was nicely held by Nifty. Nifty bounced back from that level. On hourly chart, now, Nifty is trading near small resistance of 7720. It may take small dip from this level before breaking that resistance. We assume the resistance will finally be broken as bulls are stronger. 

Medium Term (Few weeks to a month): For medium term Nifty is trading in a range. This range is between 7445 to 7800. We assume that Nifty will touch 7800 again. It is suggested to be on long side of the market. Its not easy to short sell in Bull Market. The wiser theory is to buy on dips. However a word of caution is 'don’t buy at tops'. Buy either at support or after breaking resistance. 

Long Term (Few months to Year): Bullish view is maintained. We have been writing about buying opportunities on dip. Do not be panic by small corrections. It’s a sign of health markets. 

Nifty Trading View: We had suggested to short Nifty at resistance. That resistance has reached now. However shorting is now advised only in case of a confirmation of down move. This is purely a intraday move.  

                                                                                                                               

 View on Sectorial Indices:  

We have been optimistic on IT and FMCG last week. Both sectors did well.  

Last week we have seen a pullback (or small up move) in almost all the indices.  There are no major hindrances ahead. Only  some indices like Realty (not Infra), Media and Energy are looking a bit under pressure. Lets assume that they will also start moving. To receive this Newsletter by email drop us a mail on bonvistaplanners@gmail.com                                                                                                                                                                                                                                                             

Recommendations of the week: 

BAJAJAUTO (Buy) -Buy Bajaj Auto near 2070 for target of 2110. Maintain stop loss at 2050 

HDFC (Buy) - Buy HDFC Ltd near 980 for Target of 990. Maintain stop loss at 972. 

INDUSINDBK (Buy) - Buy Indusind Bank near 537  for target of 545. Maintain Stop loss at 527.                         

For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com

NIFTY View For Week 15-19 July 

Event packed week is over. Markets have created opportunities to ride Roller Coasters. (Short Term) Traders who were on right direction of market would have made money. Those who missed the direction would have 'distributed money' to other traders. After all trading is zero sum game.  On the day of Railway budget markets had made intentions clear. I want to travel southwards. So, even after presenting a 'fair' budget markets didn’t move up. This can be a start of correction. The markets have close near weekly low of 7460.      

 Technical Overview:  We had indicated at 100 point up move (from last to last week's high) which lasted for around 60 points. On the day of Railway budget our important support of 7650 was broken on charts. Since then markets have moved down by almost 200 points. What next? Well we are not astrologer to predict. But on 'Bearish Engulfing' Candle on weekly chart suggest that there is more downside. We shall wait lower top to be created on daily chart. On hourly chart a lower top is evident. There are multiple support zones but the major one comes at 7050.                                         

Short Term (Few days to a Week) : On hourly chart the Nifty is trading near a support at 7445. But this support has become weak.  It can be broken after a small pullback. Or on Monday markets would gap-down and open below this support. The next good support emerges at 7220. You may want to sell on rise near resistance of 7580-7625. 

Medium Term (Few weeks to a month): We had suggested profit booking for medium term traders in our last weeks post. As suggested last week the current down move can be a start of consolidation or correction. Medium term support emerges in the range of 7260-7220. Resistance is at 7635-7650. 

Long Term (Few months to Year): Bullish view is maintained. We have been writing about buying opportunities on dip. This down move is one such opportunity. Long Term investors can find good value picks to buy at lower levels. 

Nifty Trading View: We would suggest to find shorting opportunities on rise near resistance. This short position can be maintained in short to medium term.  

                                                                                                                               

 View on Sectorial Indices:  

IT and FMCG are trading near support. Cautious buying can be done in these sector. Quarterly Result season here. High volatility is expected. Hence the cautious approach. 

All other indices are currently not giving buying opportunities. 

To receive this Newsletter by email drop us a mail on bonvistaplanners@gmail.com                                                                                                                                                                                                                                                             

Recommendations of the week: 

ALBK (Sell) - Sell Allahabad Bank near Cmp of 115 for target of 110. Maintain stop loss at 118 

AUROPHARM (Buy) - Buy Aurobindo Pharma at CMP of 691 for target of 715. Maintain stop loss at 680. 

HCLTECH (Buy) - Buy HCLTEH near CMP of 1501 for target of 1525. Maintain Stop loss at 1480.                         

For any clarifications on these recommendations , you may mail us on bonvistaplanners@gmail.com