Wednesday, July 29, 2015

Market uodate for 29 July

Prime Cash- added new recommendation LAOPALA. Pls Login to Advisory System and check.

Yesterday's view on Nifty remains intact. One can look to buy Nifty call options  available at deflated price. Low risk call.

Prime Options- Recommending Profit booking in RELCAP July pair.

A new pair RELINFRA for Aug series is addded. Please enter the pair near opening prices today. Login to Advisory System and check.

In Prime Options Portfolio gains are around 10% for the month of July.

Get in touch on or 9823244875for our Advisory services.

Monday, July 27, 2015

Nifty View for Week 27-31 July

Read this report on our website Bonvista Financial Planners 

After a volatile week, do we say markets are ready to calm down? Moreover are they ready to move higher as was felt earlier in last week? We are in F&O expiry week. 

Technical Overview: Last week Nifty made high of 8655 and low of 8498. A narrow range of around 157 points forming a red candle. In my 6th July post I had mentioned resistance to Nifty near 8643-8756. Nifty is now reacting to that resistance. Current Nifty chart tells us that there is nothing wrong with bullish setup. On daily chart Nifty is changing its cycle from Lower top lower bottom to higher top higher bottom. And current fall seem to be one such higher top formation. For this to confirm Nifty should not move below next support at 8470-8425.   
Next support is in the range of 8377-8315  

Short Term (Few days to  a Week) : It would be difficult to sell Nifty after it has fallen so much. So even for aggressive traders, I would suggest a buy on dip. If Nifty trades near 8450- that can be good buying opportunity to buy for short term.                                                            

Medium Term (Few weeks to a month): We are still in bullish setup. Wait patiently for Nifty to settle at its support, let it give confirmation that it wants to move up. One can get a good medium term Nifty trade.                                                                                                                                                               
Long Term (Few months to Year): Nifty remains to be in bull market and be on long side of the market. 

For more precise ideas on Nifty trading follow me on Twitter @Bonvista1

NIfty Daily Chart

Bank Nifty: BANKNIFTY is expected to trade choppy with negative bias till expiry. It has support near 18508-18409 level.            

CNX IT is trying to enter into the formation of Higher To Higher Bottom. A good support near 11306-11123 can be a buying opportunity. 

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For coming Week Bonvista Financial Planners Recommends: 
ARVIND (SELL): Sell ARVIND near 303 for a target of 297. Maintain stop loss at 310 
BRITANNIA (BUY): Buy BRITANNIA near 2895 for a target of 2949. Maintain stop loss at 2845 
EXIDE (SELL): Sell EXIDE near 150.65 for target of 146.50 . Maintain stop loss at 154 

Above prices are spot prices. Entry price is considered as opening price of next trading day (Monday). 
For any clarifications on these recommendations , you may mail us on