Market View For Week 7-11 July 

Consolidation is followed by rally (big move) and vice versa. This move is evident from the charts of this week. We had said last week that markets can give us the either direction by the end of the week. The direction is up and moving. Markets have closed at their all time high at 7751. This suggest that here is still some up move left. During early week expect markets to maintain the direction. On 10th July Union Budgets is a big event. The day of budget markets usually experiences high volatility                                                                              

Technical Overview: The Bullish Hammer pattern on daily chart and a Bullish candle on Weekly chart are  indications of further up move. Since we are trading at all time high we have no resistance level to set the target. However a good move of 100 points from here can be expected. The gap at 7650 is acting as a good support.              

Short Term (Few days to a Week) : Our strong support now emerges at 7650. The markets may experience some big movements in next week. This create good trading opportunities for short term and intra day traders. We expect markets to trade in positive territory in coming week. The Budget day closing will give us further indications.                      

Medium Term (Few weeks to a month): After the descent move we may experience some kind of consolidation after a weeks time. For positional and swing traders this is time to book profit  and wait for further signals. By the end of this month we shall get clear direction for medium term. Till then traders will have good trading opportunities.                            

Long Term (Few months to Year): Bullish view is maintained. We may experience unprecedented investment opportunities in year/s to come. Every dip is buying opportunity for long term investor. 

Nifty Trading View: Intraday buy on dips near intraday supports are suggested in Nifty. The daily levels are given on this website on homepage.  

                                                                                                                               

 View on Sectorial Indices:  

We expect Financial Services and Banks to do well in coming week. Pharma, IT might be in consolidation. FMCG can experience some correction. 

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Recommendations of the week: 

ABIRLANUVO (Buy) - Buy Aditya Birla Nuvo near Cmp of 1398 for target of 1450. Maintain stop loss at 1365 

ASHOKLEY (Buy) - Buy Ashok Leyland at CMP of 36 for target of 37.5. Maintain stop loss at 35. 

RELIANCE (Buy) - Buy Reliance Industries near CMP of 1032 for target of 1060. Maintain Stop loss at 1000.                         

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

Market View For Week 30 June-4 May 

This is disappointing market for traders. Of course markets are not in our control. We have to follow what it offers us.Since last two weeks we have been saying that markets are in consolidation. This is expected to continue in the week to come. Last week high was 5693 and low was at 7441.  

Technical Overview: The Doji pattern on weekly chart hints at equal fight between bulls and bears. Nifty is still holding our support level of 7450 by closing above this level. A consolidation is evident on daily and Weekly charts. This consolidation is a preparation for big move. In a week or two we can experience a big move either side.                                                      

Short Term (Few days to a Week) : The support level given in this letter the last week are still intact. However this support has become weak and can be broken. The markets may remain choppy. The end of coming week might hint at the upcoming direction. Support at short term is between 7436-7400. Resistance is in range of 7570-7585. Intraday traders will get some opportunities. Swing traders should hold for the time being                                                                                       

Medium Term (Few weeks to a month): Nothing much has happened during last week. Nifty need to correct for healthy up move. However this correction may not come immediately. The strong support if this correction comes is at 7000.    

Long Term (Few months to Year): Bullish view is maintained. We may experience unprecedented investment opportunities in year/s to come. Every dip is buying opportunity for long term investor. 

Nifty Trading View: Trade Nifty based on intraday charts to catch only small moves till it give clear indication of the direction. This trading can be difficult as well as frustrating. 

                                                                                                                               

 View on Sectorial Indices:  

It has broken resistance and is offering buying opportunities. Pharma, IT, FMCG, Infra and Media are bullish and are offering buying opportunities.  

Bank Nifty is consolidating with negative bias. This is expected to continue for the week to come. 

Wait and watch is maintained on all other indices. 

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Recommendations of the week: 

DABUR (Buy) - Buy Dabur near Cmp of 186 for target of 190. Maintain stop loss at 183 

GLENMARK (Buy) - Buy Glenmark Pharma at CMP of 569.65 for target of 584. Maintain stop loss at 564 

INFY (Buy) - Buy Infosys near CMP of 3223 for target of 3290. Maintain Stop loss at 3160                         

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

Market View For Week 23-27 June 

 Nifty is in consolidation. This consolidation may continue till markets get a trigger for movement either way. This move can be either side. We had hinted at choppy nature of the market in our letter last week. Last week bulls made an attempt to break above but failed after making high of 7663. The closing near the low of the week at 7511 suggest that there can more downside. Given the fact that markets are in long term bull phase, we can consider the downside to be limited.    

View: The next big trigger is Budget in the next month. Expect the range-bound trading with a negative bias till then. This market is not offering many short selling opportunities. Hence trade is to go long on dips. 

Short Term (Few days to a Week) : The support level given in this letter the last week are still intact. We expect Nifty to hold this support in short term. On Thursday in coming week there is F&O expiry. The markets may remain volatile during this period. Support at short term is between 7484 and 7474. Resistance is in range of 7620-7660. Very few trading opportunities would be offered in this period. 

Medium Term (Few weeks to a month):Narrow ranges are broken on either side after consolidation. We are in consolidation. We can expect a big move on either side once the consolidation is over. We can not predict the direction of the move. However, being in bull phase, we are inclined towards a bullish move. The strong support emerges in the range of 7430- 7360           

 Long Term (Few months to Year): Bullish view is maintained. We may experience unprecedented investment opportunities in year/s to come. Every dip is buying opportunity for long term investor. 

Trading View: Avoid Trading during this week 

                                                                                                                               

 View on Sectorial Indices:  

Pharma and IT are trading very near to their resistance. Buy on breakout of this resistance. FMCG has consolidated but trading near its support. A low risk long trade in FMCG can be made. Media stocks are looking good on chart. Longs can be initiated in these stocks for the week to come.  

Other Indices are not offering great opportunity and one should wait patiently for the opportunities to come. 

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Recommendations of the week: 

BATAINDIA(Buy) - Buy Bata near Cmp of 1184.55 for target of 1215. Maintain stop loss at 1150 

BHARATFORGE(Buy) - Buy Bharat Forge at CMP of 580 for target of 590. Maintain stop loss at 570 

DISHTV(Buy) - Buy DIshTv near 54.85 for target of 56.5. Maintain Stop loss at 54                          

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