NIFTY View For Week 1-5 Sep 

Markets have at all time high on the day of Futures Expiry. The positive momentum continued through out the last week. Albeit they were a bit choppy as a result of F&O expiry. Every dip was bought into. The markets were pulled after every small decline. We know, that markets should remain in upward momentum un-till charts give us clear indication of correction.  

 Technical Overview:  The week gone, Nifty has touched high of 7968 and low was near 7862. This was a very narrow range of about 100 points. Daily chart of Nifty has shows a luster of very small range candles. The are called as "Narrow Range" candles in Technical Analysis. Narrow range is followed by breakout and vice versa. We can expect a breakout in the coming week. The breakout can be on either side. Howe ever since the markets are in uptrend we say that breakout will be on up side. 

Short Term (Few days to a Week) : On hourly chart Nifty has support in the range of 7900-7915. Short term traders can buy on decline to this support. If Nifty breaks this level, next support is in the range of 7814-7835. Short term traders are advised to buy on decline to these levels.                                           

Medium Term (Few weeks to a month): In medium term Nifty is expected to remain Bullish. The support is at 7840. The upside targets comes to around 8200 for months of Sept. The breakout above current high of 7968, gives us buying opportunity.  

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. 

                                                                                                                               

 View on Sectorial Indices:  

Except Infra, Realty and Energy all other sectors are looking good on chart. Infra, Realty and Energy are also trading near support. They can offer good low risk buying opportunity for very short term. Media can be bought at its support.                                                                                                                        

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Recommendations of the week: 

ABIRLANUVO (Buy): Buy Aditya Birla Nuvo near 1454 for target of 1500. Maintain stop loss at 1420 

DIVISLAB (Buy): Buy Divis Laboratory near 1565 for a target of 1600. Maintain Stop loss at 1550 

HINDZINC (Buy): Buy Hindustan Zinc near 165.75 for Target of 169. Maintain Stop loss at 164.                         

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

NIFTY View For Week 25-29 Aug 

Markets usually act beyond what people think. A supposedly correction last to last week had a very short life. Fearless bulls are buying at every decline and as a result market is touching new highs. Coming week we have expiry of futures and options. Market may remain volatile with positive bias during this period. Option data suggest expiry in the range of 7900-8200. Since we are in positive momentum we assume, in the week to come markets may touch new highs. 

 Technical Overview:  The week gone Nifty has touched high of 7929 and low was near 7779. The weekly candle, the options data suggest that there is more higher side before end of August. The immediate support is in the range of 7830-7890. Medium term support is in range of 7540-7600. We shall not write resistance level. But the current Options Writing increased in 8200 and 8100 Call Option suggesting these levels can act as resistance.   

Short Term (Few days to a Week) : On hourly charts Nifty is trading in the range of 7850-7930. A breakout or breakdown from this level will offer us trading opportunity. We assume that Nifty will break on higher side. However, If it breaks below this range, then traders can buy Nifty on decline, near support of 7830 (Index level).                                                      

Medium Term (Few weeks to a month): In medium term Nifty is expected to remain Bullish. During expiry volatility, markets may offer some buying opportunities on dip. Don’t miss this opportunity. You may buy Sep Futures in Nifty. As written above the medium term resistance is in the range of 7540-7600. 

 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. 

                                                                                                                               

 View on Sectorial Indices:  

PSU Banks, IT are looking good. IT has given signals of bouncing from its support.  

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Recommendations of the week: 

HINDALCOA(Buy): Buy Hindalco near 182 for target of 188. Maintain stop loss at 178 

RELINFRA (Buy): Buy Reliance Infra near 731 for a target of 742. Maintain Stop loss at 720 

TCS (Buy): Buy Tata Consultancy Services near 2464 for Target of 2485. Maintain Stop loss at 2440.                         

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

NIFTY View For Week 18-22 Aug 

The markets have regained positive momentum. With a reversal in global market, Indian markets too, have started moving upward. This is usual in a bull market. That shows the urge of buyers to invest in equity market. At every level (dip) someone or other (institutions / FII) are buying.                                         

 Technical Overview:  Last week Nifty gapped up and never looked back. Nifty registered a low of 7598 and made a high of 7796. Our last week's resistance was broken effortlessly by Nifty. On daily charts Nifty has made a higher bottom. This higher bottom will now act as a support. We need to wait for markets to break above its all time high. 

Short Term (Few days to a Week) : On hourly charts Nifty is trading near its resistance. It has broken its earlier lower top, to possibly start a cycle of higher top and higher bottom. Nifty has support in the range of 7745-7725. One can use this support to buy Nifty Future. The resistance is in the range of 7800-7785. If this broken next hurdle is at 7820-7840.                                                       

Medium Term (Few weeks to a month): On daily charts resistance is in the range of 7800-7840. Support is in the range of 7635-7600. The broad range of market is between 7400 -7800. We can expect markets to remain in this trading range of some time. 

 (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 Futures Trading View: Buy Nifty near 7750 with a stop loss of 7710. One can expect a target of 7800. This is a purely short term trading call. 

                                                                                                                               

 View on Sectorial Indices:  

Auto, Metal and Energy are on its way to higher levels. Buying can be done in these stocks. Media is trading near its support. Once can find some low risk buying opportunities in Media. 

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Recommendations of the week: 

ADANIENT (Buy) Buy Adani Enterprises near 487 for Target of 505. Maintain stop loss at 473 

ZEEL (Buy): Buy Zee Entertainment near 270 for a target of 282. Maintain Stop loss at 265 

UCOBANK (Buy) - Buy Uco Bank near 96 for Target of 100. Maintain Stop loss at 93                         

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