Nifty View for Week 10-14 Aug

Read this report on our website Bonvista Financial Planners  

Well, nothing wrong with Bullish setup on Nifty chart. Last week Nifty sustained the gains. RBI policy was a non event.  

Technical Overview: Last week Nifty made high of 8606 and low of 8448. A range of around 158 points. Nifty is finding it difficult to cross a small hurdle at 8654. Nifty need to break this level to reach its next destination at 8800. A range-bound trading on Nifty for last 3-4 trading sessions creating stronger expectations of big move either side. Short term indicators are in overbought territory. This suggests that Nifty may take a small dip before moving further up. The lower levels can be upto first support level at 8527. If this level is broken Nifty may travel down to 8400. 

Short Term (Few days to  a Week) : Hourly chart on Nifty has developed negative divergence makes us believe that it may see a short deep. Aggressive traders can sell Nifty for a target of 50 points from current level.                                                      

Medium Term (Few weeks to a month): Would suggest to let Nifty settle at a support and then buy on dip. Dips are buying opportunities in current scenario.                                                                                        

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

View on important Sectorial Indices: 

Bank Nifty: BANKNIFTY seen reacting to resistance near 19100 as mentioned last week. Bank Index may trade with negative bias. It has support near 18500. 

CNX IT chart looks good for further upmove. It has support near 11490.                                         

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#Nifty #Banknifty moving down or up?

I hold my yesteeday's #view on #Nifty and #Banknifty.
Buying puts may offer god risk to reward today. However one need to keep in mind that this is short term view.
#Nifty remains in uptrend in medium and long term.

Booked profit of 14425 in APOLLOHOSP Buy Call.

   
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Nifty Swing levels to trade

Nifty is Trading near high point ànd a weakish resistance zone at 8590. A reaction is evident from yesterdays trading as Nifty could not close near its high.
We have support zone near 8527-8407 on 60 min chart.
Next daily support is at 8397.
Look to buy Nifty on deep from Swing perspective.

Aggressive Traders can look to buy 8500 Put for intraday trade.

Nifty view after RBI policy

Nifty 120 min chart is enclosed.
Nifty has 2 support areas shown on chart below.
First is between 8435-8408
Second is little larger between 8398-8321

I am meloderately Bullish on Nifty. Nifty can cover up from these zones.
One can buy Nifty with stop loss at 8320.
Alternatively buy Nifty 8700 Call at around 35.
For any queries write us on  support@ bonvista.in

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Recommendations for Week 3-7 Aug

For coming Week Bonvista Financial Planners Recommends: 

APOLLOHOSP (BUY): Buy APOLLOHOSP near 1360 for a target of 1400. Maintain stop loss at 1330 

CESC (SELL): SELL CESC near 565.25 for a target of 555. Maintain stop loss at 573 

DABUR (BUY): Buy DABUR near 293.30 for target of 299. Maintain stop loss at 288 

Above prices are spot prices and profit/loss calculated with 1 Futures lot. Entry price is considered as opening price of next trading day (Monday).