Likely range formation – Nifty View 2-6 May

I have been maintaining bearish to neutral stance on markets since last 2 weeks. Global markets traded mixed during this period. Last series expiry is hinting at neutral to bullish sentiments.  

Read this post to understand whether to trade long or short next week. 

Technical Overview: Last week Nifty made a high of 7992 and low of 7788 to close at 7849. That was a range of 204 points. On Weekly chart this time Nifty again formed a spinning top. As I said last week, Spinning top indicates neutral sentiments. Spinning top continuously for two weeks suggest a likely range formation. Ranges can break on either side.  

New resistance is formed near 7940. Supports are at 7772 and 7717  

My View: Current market trend is up. Considering bullish view lets expect that this range will ultimately break in favor of bulls. Nifty can remain in range for some time. This range is broadly between 7772 and 7940. Every dip is buying opportunity. This is a difficult market short sell Nifty unless it gives us clear indication. I am bullish. Lets see how it works.  

Check the levels marked on chart below

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Nifty analysis for 20 Apr

Nifty Analysis for 29 April Globally markets are trading in red. SGX Nifty is suggesting gap down open. For swing and intraday traders the trend is down. Short selling can earn good bucks. If Nifty breaks below 7820, target can be 7718.  Resistance is near 7866 and 7897. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Sell Federal Bank for a target of 45, stoploss 47 Sell Reliance Industries for a target of 975, stoploss 1015 Buy SAIL for a target of 49, stoploss 45.6 Recent gainers recommended by us Adani Ports up 9.5% from buying price Berger Paint up 11% from buying M&M Financial Services up 32% from buying price (Booked) SKS Micro Finance up 11% from buying price.

Free  Webinar on Stock Market Investment Strategies Free Webinar on Stock Market Investment Strategies. Learn to pick multi-bagger stocks. Don't just invest- take informed decision. I will also cover Nifty/Market view for year 2016. Attend this seminar to learn simple methodologies used in share market investing/trading. Date: 30 April 2016 Time: 5:00pm to 7:00pm Mode: Online through Webinar Click here to register Call me on 09371444875 for more details

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Stock Analysis Bharti Airtel - potential gains of 10%

Bharti Airtel is one of the largest telecom services provider in India.

Stock is trying to break its current resistance of 370. Today stock has closed near 373.

This breakout has come with good volumes- whatever may the reason be.

The momentum is can take the stock to its next resistance near 405. One can buy and hold Bharti for target of 405 in nest 15-20 trading sessions. Maintain stoploss near 349.

Bharti Airtel: Buy

Trade Type: Positional

Target: 373

Stoploss: 349

Current Price: 373

Buying can be done at current level as well as near 460-450 levels if it corrects a bit from current level.

As can be seen on weekly chart, stock has broken out of earlier high near 370. NO major resistance till the level of 405

NIfty Analysis for 28 Apr

Nifty Analysis for 28 April Broadly Nifty is in uptrend. However now trading in a range. This range is between 7940 to 7990. We shall get clear signal if Nifty breaks this range on either side. We can expect this Nifty to break above 7990 as Nifty is in uptrend. Markets can be choppy due to expiry. No trade in Nifty unless it gives clear signal of breakout on either side. Major resistance is 8088. Support is near 9718 Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Buy Bharti Airtel for a target of 400, stoploss 349 Buy Oil India for a target of 335, stoploss 315 Sell ICICI Bank for a target of 240, stoploss 250 Recent gainers recommended by us Adani Ports up 12% from buying price Berger Paint up 11% from buying M&M Financial Services up 32% from buying price. SKS Micro Finance up 10.5% from buying price. Kwality Dairy up 9.5% from buying price

Free  Webinar on Stock Market Investment Strategies Free Webinar on Stock Market Investment Strategies. Learn to pick multi-bagger stocks. Don't just invest- take informed decision. I will also cover Nifty/Market view for year 2016. Attend this seminar to learn simple methodologies used in share market investing/trading. Date: 30 April 2016 Time: 5:00pm to 7:00pm Mode: Online through Webinar Click here to register Call me on 09371444875 for more details

Nifty Analysis for 27 Apr 16

Nifty Analysis for 27 April Yesterday was classic example how up-trend rallies deceive short sellers. As I had mentioned in my weekly newsletter, it is difficult to trade corrections when in uptrend. Well, if you would have created longs on breakout beyond 7910 as mentioned yesterday, its time to book the profit. Expect markets to trade choppy due to expiry today. Some profit booking on yesterday’s longs can come. Wait patiently don’t trade unless markets move beyond 7978. An alternative trade can be to buy near support at 7938. Check the chart enclosed. Check Nifty veiw for the week here. Nifty 15 min Chart

Free  Webinar on Stock Market Investment Strategies Free Webinar on Stock Market Investment Strategies. Learn to pick multi-bagger stocks. Don't just invest- take informed decision. I will also cover Nifty/Market view for year 2016. Attend this seminar to learn simple methodologies used in share market investing/trading. Date: 30 April 2016 Time: 5:00pm to 7:00pm Mode: Online through Webinar Click here to register Call me on 09371444875 for more details   Swing/positional trades for the day: Buy Idea for a target of 130, stoploss 115 Buy Maruti for a target of 4020, stoploss 3690 Buy Canbank for a target of 235, Sstoploss 204 Recent gainers we have recommended. These stocks are also part of Prime Cash- Model Portfolio M&M Financial Services up 30% from buying price. SKS Micro Finance up 11.5% from buying price. Kwality Dairy up 9.5% from buying price