Nothing wrong with the bulls – Nifty View 16-20 May

Last week Nifty traded in a range with bulls in control throughout the week except the last day of the week. Disappointing CPI and IIP data caused some damage to ongoing positive sentiments. Global markets too were under pressure.  

Let's try to understand how to trade Nifty this week. 

Technical Overview: Last week Nifty made a high of 7916 and low of 7753 to close at 7815. That was a range of 163 points. We got opposite patterns on weekly and daily charts. A 'same open high' candle on Friday on daily chart suggesting bearish sentiments. At the same time nothing seem to be wrong with weekly chart as it has formed a 'Bullish Harami' pattern suggesting bulls in control. This setup suggest that though the markets can remain in pressure for one or two trading sessions, finally they can move higher. 

Supports are near  7777 (becoming weak) and next one is at  7740

Resistance near 7940 is becoming weak now.

Nifty needs to move beyond the band of 7750 and 7940 to give us a clear direction.

My View: My view of Nifty being in range has worked well. Still, Nifty could not come out of that range. The range may continue for some more time. So far this is buy  on dips market. Do not try to go short unless we get clear indication. In times to come Nifty chart will break out of current congestion zone.  Considering the current up-trend, lets expect it will break on higher side.    


Chart enclosed below to show the levels.

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Nifty analysis for 12 May

Nifty Analysis for 12 May Seemingly bulls want to take Nifty beyinf 7900. However, some global and domestic factors not supportive to this move making it take longer than desired. Critical level formed on Nifty level at 7892. If Nifty breaks this level, it’s a buy for target of 7940. Support is at 7825, hopefully this will not be broken. Buying can be done at this level. If Nifty breaks below 7820, go short for target of 7780. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Read this stock analysis – A midcap software company – on the verge of range breakout Recent gainers recommended by us SKS Micro Finance up 12% from buying price Berger Paint up12% from buying M&M Financial Services up 32% from buying price (Booked)

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Nifty Analysis for 11 May

Ammendments in India’s Tax treaty with Mauritius is causing panic in markets. As a result, SGX Nifty is down by almost 125 points. Indian Markets expected to open gap down. This is how one can trade Nifty for the day. A volatile day may not allow Nifty to be traded easily for the day. Wait patiently for initial hours, let the markes give us clear indication. If the volatility continues, avoid trading for the day. I expect gap down to be in the range of 7777-7718. This is a large Demand area on Nifty. Opening in this area can see some buying by the bulls. If you are aggressive trader – buy Nifty on gap down near zone as mentioned above for target of 7815. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Read this stock analysis – A midcap software company – on the verge of range breakout Recent gainers recommended by us SKS Micro Finance up 12% from buying price Berger Paint up12% from buying M&M Financial Services up 32% from buying price (Booked)

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Nifty analysis for 10 May

Nifty Analysis for 10 May Hope you  would have made good money on long call yesterday. For the day buy on dip (stay long) continues. However we may not get same momentum as that of yesterday. Bulls may prefer to take some rest before starting for the next rally again. It is difficult to trade short trades in this type of market, unless some unexpected bad event comes in. Stay long- buy near 7840-7850 levels for target of 7900 in couple of days. If  Nifty breaks below 7830, it can move down to 7780. This down move will offer us more buying opportunities. Click here to read Nifty view for the week. Nifty 15 min Chart    Swing/positional trades for the day: Buy SRF for a target of 1460, stoploss 1385 Buy Axis Bank for a target of 500, stoploss 460 Sell Ceat Ltd for a target of 995, stoploss 1050 Read this stock analysis – A midcap software company – on the verge of range breakout Recent gainers recommended by us SKS Micro Finance up 12% from buying price Berger Paint up12% from buying M&M Financial Services up 32% from buying price (Booked)

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Disclaimer: In the interest of our readers and subscribers, recommendations are prepared abiding to our highest standards & principles for providing advisory services. Subscribers understand that trading is inherently risky and can incur substantial losses. Bonvista Financial Planners or its promoters or its employees own no responsibility of the consequences of profit or losses incurred by acting on these recommendations. It is sole discretion of trader/subscriber/reader/user of these services to trade recommendations at his/her own risk

A midcap software company - On the verge of range brakout

Financial Technologies is one of the growing sectors. This software company is in the development of solutions for Financial Services and Banking sectors.
It has been there in the market since last 30 years.

The company is Nucleus Software Exports Ltd.

The technical chart is nicely placed on short as well as long term time frames.

On the monthly chart the stock is on the verge of breakout from a rounding bottom pattern. This breakout may take some time. However on the breakout the stock can double from the current levels.

Here I wish to focus on short term view. On 1 March the chart exploded out of its bottom to move up by almost 15% in one day. Since then chart is moving in a small range.

We know that ranges break on either side. In this case looking at the larger picture, there is high possibility that the chart will break on upper side.

Short term targets-
Target - 245
Stoploss - 195

Check the chart here for levels marked.

 

Nifty Analysis for 9 May

Nifty Analysis for 9 May Global cues are mixed for the day. On Friday we have seen recovery from bottom to form a hammerish pattern on daily chart. This pattern can help nifty push further up. Expect Nifty to trade with bullish bias. Strategy for the day is buy on dips till 7675. First resistance is near current level 7735, which will be taken out if Nifty gaps up by 20-25 points. Next hurdle is at 7775. Stay long. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Apollo Hospital for a target of 1355, stoploss 1310 Buy SBI for a target of 193, stoploss 178 Sell Biocon for a target of 590, stoploss 625 Recent gainers recommended by us SKS Micro Finance up 12% from buying price Berger Paint up12% from buying M&M Financial Services up 32% from buying price (Booked)

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Bulls ready to take charge? – Nifty View 9-13 May

Nifty is trading in red since last 3 weeks. It has been maintaining the range which I have been talking about. However Nifty is now trading near lower end of this range. Global scenario is not supportive to bulls so far.

It would be interesting to see whether bulls can take charge from this level.

Technical Overview: Last week Nifty made a high of 7890 and low of 7678 to close at 7733. That was a range of 212 points. Red Spinning Top candles formation on weekly chart since last 3 weeks suggesting neutral to bearish view. However now Nifty has reached a price which is a ‘make it or break it’ price, as Nifty has a support near 7663. If Nifty holds this level we can expect Nifty to continue its ongoing higher top higher bottom cycle. 

New resistance is formed near 7800 then at 7940. Supports are at 7663. If Nifty breaks 7663, there is possibility of it moving down to next critical level of 7570. Bearish territory starts, below 7570-7526   

My View: We know that medium term trend is up and short term trend is down. However Nifty is now trading near support. I expect Nifty to hold and rebound from this level. First hurdle is near 7800. If bulls can show some strength near these levels, we can consider that the correction is over and Nifty resumes its uptrend.    

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Check the levels marked on chart below

Nifty Analysis for 6 May

As I had mentioned, Nifty tried to give a some upside yesterday. Long target given yesterday achieved.   For the day global scenario is not encouraging for bulls. If Nifty breaks below 7697, bulls have reasons to worry. Sellers can take advantage by selling Nifty below 7697. It can give targets of 7620. If Nifty sustains above 7700, one can go long near 7700-7720 for target of 7760. Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Buy Bajaj Finance for a target of 7280, stoploss 7030 Buy L&T for a target of 1320, stoploss 1240 Sell Ultratech Cement for a target of 3050, stoploss 3180 Recent gainers recommended by us SKS Micro Finance up 12% from buying price Berger Paint up12% from buying M&M Financial Services up 32% from buying price (Booked)

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Disclaimer: In the interest of our readers and subscribers, recommendations are prepared abiding to our highest standards & principles for providing advisory services. Subscribers understand that trading is inherently risky and can incur substantial losses. Bonvista Financial Planners or its promoters or its employees own no responsibility of the consequences of profit or losses incurred by acting on these recommendations. It is sole discretion of trader/subscriber/reader/user of these services to trade recommendations at his/her own risk

Nifty Analysis for 5 May

Nifty is curretnly trading in Dmand Zone(support). Stoploss for this zone is 7673. Lets expect Nifty to boune from this zone. Aggressive traders can buy Nifty for a target of 7750. Sell Nifty if it breaks below 7673 for a target of 7620 Click here to read Nifty view for the week. Nifty 15 min Chart   Swing/positional trades for the day: Buy Havells for a target of 341, stoploss 327 Buy Lupin for a target of 1600, stoploss 1575 Sell Ambuja Cement for a target of 208, stoploss 218 Recent gainers recommended by us SKS Micro Finance up 12% from buying price Berger Paint up12% from buying M&M Financial Services up 32% from buying price (Booked)

Premium Product Prime Cash A model portfolio Click here to check detailed performance Plans: Half Yrly – Rs 7000 and Yrly- Rs 10000 Features PRIME CASH PORTFOLIO: Concentrated Product, focused approach Keep it simple. Follow the framework. Long only, wealth creation portfolio 31% returns in last Financial Year. Trade with a portfolio approach- trade all the calls. We shall guide on position sizing time to time Unique On-line Trading Advisory System maintains all the recommendations. Login ID and Password will be provided to subscribers No need to watch markets during the day No action to be taken during the day. All buy/sell at the start of the day Spare only 10 mins for the day Very low risk as no F&O calls in this portfolio

Nifty Analysis for 3 May

Nifty Analysis for 3 May

Nifty continues its sluggish movement downwards. Bears are not able to exhibit the force in movement, suggesting us probable buying activity at lower levels by bulls.

Sell Nifty if moves near 7845.

Sell Nifty if breaks below 7788

Buy Nifty if moves down near 7720

Buy Nifty on Breakout beyond 7860

Click here to read Nifty view for the week.

Nifty 15 min Chart

Swing/positional trades for the day:

Buy Nectar Life Sciences for a target of 45, stoploss 37

Sell Bank of India for a target of 87.5, stoploss 92.50

Buy Titan for a target of 376, stoploss 359

Recent gainers recommended by us

Adani Ports up 8.5% from buying price

Berger Paint up 7% from buying

M&M Financial Services up 32% from buying price (Booked)

SKS Micro Finance up 16% from buying price.

Bottom-Fish this stock for 50% gains in couple of months

Its a small cap pharma company having its manufacturing unit at Tarapore near Mumbai. The parent company is in diversified businesses like logistics, exports, chemical and healthcare.

Promoters holding in the company is more than 70% and company has no debts. This stock is current trading at P/E of 20. Broadly fundamentals are in place.

I am talking about Anuh Pharma (NSE- ANUHPHR).

Lets have a look at the Technicals of this stock.

Stock is trading near 206 levels. It had broken out of long trading range in the month of June 2014. The level when it broke was around 155. The stock multiplied 4 times after it broke out to register high of 618 in July 2015. Most of us missed this opportunity.

The stock has been consistently falling since then to register a low of 159 in April 2016. This is exactly the same price of  breakout level which I mentioned above.

Resistance becomes support if it is broken. The resistance (range) was broken in June 2014 is now expected to act as strong support. You can see the stock moved up with good volumes in last 2 days and now trading near 206 ( as on 29 Apr 2016).

Consider buying this stock at current level and on dips till 160 levels.

Stoploss: 150
Target 1: 300
Target 2: 500    

Expect stock to give 50% returns in next 203 months. The stock can double in a year.

Check the chart below:

Nifty Analysis for 2 May

Nifty is expected to open in red today. There is a support on Nifty chart near 7800. So if Nifty gaps down by 50 odd points, it can move up to test levels near 7850 in early hours of trade. For Nifty to sustain its upward momentum, it needs to cross hurdle of 7865. This seems to be difficult for the day. One can sell Nifty if it moves up near 7850 for a target of 7800. Bigger selling opportunity is if Nifty breaks below 7788. In that case it can target of 7720. Click here to read Nifty view for the week. Nifty 60 min Chart   Swing/positional trades for the day: Sell Bajaj Finance for a target of 6650, stoploss 7050 Sell Granules for a target of 129.50, stoploss 139 Buy Petronet for a target of 272, stoploss 258 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.

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