NIFTY 09 May Plan ahead

9 thg 5, 2016

Market Bytes 09-May-2016
Nifty futures: On our Fridays Market bytes edition we discussed that 7700-05 will hold a key base for the markets. This got respected pretty well despute a gap down opening. This further rep inforced the level. We discussed that the range of 7700-7900 is going to probably hold fort for coming sessions. On the upside immediate hurdle lies at 7850. so the idea will be to look at the base of 7700 and target the levels of 7830-50 in the swing or intraday day play.
overall not much of a plan change from last plan.
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10 thg 5, 2016

Ghi chú

Market Bytes 10-May-2016
Nifty futures: Yesterday was pretty straight forward day in terms of price movements and the planned levels. With the base being confirmed we discussed a long trade with targets of 7850 range. The pace of the movement ensured the swing targets being met even on an intraday basis. In fact we made a top just below the 7930 levels.In fact on an intraday pullback low was made at about the 7850 levels before the next surge.
For the coming session it will be prudent to look for pull back trade on the retracements of say about 7850-30 levels with stops below 7800 odd. Upside swing hurdle remains at 7930 and a clear of that level this time around could mean new swing highs for the benchmark. It will be fun to evaluate the chart set up if the 7930 get tested and to look for a contrarian trade on highs. Markets have run up too fast so some pullbacks would be decent trade too.
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11 thg 5, 2016

Ghi chú

Market Bytes 11-May-2016
Nifty futures: Is looking forward to a gapdown opening thanks to non technical reasons- Change in taxation norms for mauritius based investments. Quick analysis on that one: The good part is clarity in avoidance of retrospective taxation, + sufficient window for compliance negatives- lack of clarity in derivatives taxation norms.
coming back the the markets- This probably brings us back to bang in the middle of the trading range of 7700-7900 that we discussed. SO anything in dips to 7760 odd is a great scalping and swing trading opportunity. On the upside 7850 will hold a hurdle and shuold be a long side ternd decider for today and near term opportunities.
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13 thg 5, 2016

Ghi chú

Market Bytes 13-May-2016
Nifty futures: So far has played out the trading idea of long from swing lows with stops at 7700 zones for long targets of 7900 range. we also discussed that 7930 odd is a swing hurdle. this was tested in close yesterday and failed to clear. Today in the opening bell the contrarian traders got rewarded. On the downside until 7850-30 range holds now the swing long should be possibility at lower levels. Whether we will be able to clear 7930 odd in coming sessions may be decided by the pleothora of banking results today; specially the PSU banks. On the upside if we manage to clear 7930 odd a good swing trade for 8100-50 range may be on. Similiary on the downside if we move below 7830 odd we will be back in the thick of the range zone. Not to criticize that thoough, we all got a fantastic pullback trade in past few sessions. so in the range pullback trading does work wellif one sticks to the plan.
#nifty #nseindia #sensex #stock #mauritius tax