NIFTY View For Week 29 Sep-3 Oct 

Markets respected all Technical levels. World markets were full of news, sour and sweet. Our markets, though, did not have much negative, have collapsed during the week. This is a sign of Bull exhaustion. A correction seem to be confirmed. Smart pull back during the last hours on Friday, on the news of S&P upgrading India from Negative to Stable, will have very short term effect. A very short week ahead with Monthly closing is ahead of us.                                          

Technical Overview:  On Weekly Technical Charts, we had indicated 'Hanging Man' formation. Nifty is still trading below high of this hanging man. Also the level of 7900, which we had indicated last week is breached. The correction is here to stay for some more time. The resistance level is 8070-8160. The support comes at 7640-7540. 

 Short Term (Few days to a Week) : On hourly chart Nifty is indicating an up move for very short term. The support comes near 7840 and resistance is at 8002. Short term traders can Buy on dip at 7900 with stoploss near 7840. This can give target of 8000.               

Medium Term (Few weeks to a month): On daily chart new resistance zone is 8070-8160. We expect markets to take down move after touching our resistance level. Positional Traders can go short near resistance for a target of 7840. The stoploss is near 8160. (The levels given above are Index, traders need to adjust it for Nifty futures)                                                                                                                

Long Term (Few months to Year): Markets continues to be long term bull run. As mentioned above, if we  get a correction, this can be a good buying opportunity fro individual fundamentally strong stocks from investment perspective. 

                                                                                                                               

 View on Sectorial Indices:  

A pullback (on upside) is expected in all the indices. But most of them will be facing resistance above. Pharm and IT are as green as always. You may find long opportunities in these  indices. Traders are advised not to take care in understanding views on different Time Intervals .  

To receive this Newsletter by email drop us a mail on bonvistaplanners@gmail.com                                                                                                                                     Recommendations of the week: 

ACC (Buy): Buy ACC Cement near 1435 for target of 1470. Maintain stop loss at 1400. 

UPL (Buy): Buy United Phosphorous Ltd near 338 for a target of 345. Maintain Stop loss at 326 

TVSMOTOR (Buy): Buy TVS Motor near 219 for Target of 226. Maintain Stop loss at 212.                         

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

NIFTY View For Week 22-26 Sep 

Last week we had indicated at a correction in Nifty. Nifty plunged considerably during first 3 days of the week. Nifty found a nice support near 7910 supported by surprise decisions from Federal Reserve of America. Upward rally continues in world markets. Indian markets have had one way rally since last 3 months. What next?                                                                                                                       

Technical Overview:  F&O expiry week is ahead of us. Technically we need to analyze 3 scenario for coming week. (1) Nifty Breaks above 8150-8180 range. In this case, immediate (next 1-2 months) target for Nifty would go up to 8500. Many times markets do what we don’t even think.  (2) Nifty Remains in 8150-7900 range. Nifty is expected to consolidate for some more time.  3 Nifty Breaks below 7900.Correction is confirmed in Nifty. In this scenario the target would 7640. 

Weekly Nifty chart has formed Hanging Man at the top. This is a bearish pattern. If Nifty does not break above closing of Hanging Man, bearish pattern would be confirmed.                                                

For the time being, I would go with second scenario. Markets are expected to remain choppy. 

Short Term (Few days to a Week) : We had indicated a resistance at 8150. Nifty, after touching 8166 had shown bearish signs intraday. We expect a correction up to 7990. I think we are in a period of consolidation. IN this period short term traders can earn on both short and long sides.           

Medium Term (Few weeks to a month): On daily chart our resistance in 8150-8180 range is intact. During coming week swing traders should avoid trading. Markets are expected to remain choppy.             

Long Term (Few months to Year): Markets continues to be long term bull run. As mentioned above, if we  get a correction, this can be a good buying opportunity fro individual fundamentally strong stocks from investment perspective. 

                                                                                                                               

 View on Sectorial Indices:  

The Technical Indicator like MACD are looking a bit exhausted some Indices. Pharma, IT are looking good as they are most of the times. Energy, Infra and Realty are taking supports. Some short term buying can be done in these indices. 

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Recommendations of the week: 

HDFC (Buy): Buy HDFC Ltd near 1066 for target of 1080. Maintain stop loss at 1050. 

JUSTDIAL (Buy): Buy Justdial Ltd near 1728 for a target of 1760. Maintain Stop loss at 1695 

KOTAKBANK (Buy): Buy Kotak Bank near 1063 for Target of 1080. Maintain Stop loss at 1050.                         

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

NIFTY View For Week 15-19 Sep 

We had indicated Nifty to touch 8200 and a consolidation thereafter. Last week Nifty made high of 8180 and consolidated there after. Mixed clues from global market halted Nifty's upward journey. Nifty is currently trading range-bound.                                                                                                                                    

 Technical Overview:  The week gone, Nifty has touched high of 8180 and low was near 8057. Nifty has traded in considerably narrow range in last week. Last week was a Nifty consolidated after expansion till week ended 5th Sept. We need to see whether this consolidation is a start of correction. The technical indicators like MACD are looking exhausted. Bulls may take rest for some Period.  

Short Term (Few days to a Week) : On hourly chart Nifty continues to have support in the range of 8000-8027. On hourly chart lower top formation is now confirmed. Nifty has first resistance at 8127 and then at 8150. We assume that resistance at 8150 may not be broken during the week to come. Short term traders can go short in Nifty near its resistance at 8150.  

Medium Term (Few weeks to a month): Nifty has formed a resistance in the range of 8150-8180. We are in a consolidation and a possible start of correction. However there is no need to be panic. The correction may not come about suddenly. We assume Nifty may not break this resistance immediately and continues to drift lower.                                    

Long Term (Few months to Year): Markets continues to be long term bull run. As mentioned above, if we  get a correction, this can be a good buying opportunity fro individual fundamentally strong stocks from investment perspective. 

                                                                                                                               

 View on Sectorial Indices:  

Banking sector is looking good on charts. Specially PSU Banks are expected to well in week to come. Auto and FMCG also giving some short term buying indications. Wait for correction to be over in IT. Pharma is offering buy on dips opportunities. Energy, Infra, Realty, Media are still looking weak. 

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

Recommendations of the week: 

AMBUJACEM (Buy): Buy Ambuja Cement near 215 for target of 219. Maintain stop loss at 212. 

DABUR (Buy): Buy Dabur India near 223 for a target of 227. Maintain Stop loss at 220 

HDFC (Buy): Buy HDFC Limited near 1050 for Target of 1066. Maintain Stop loss at 1038.                         

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