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NIFTY- Possible Trade for Today- 02-06-2022With the index unable to hold on to higher levels yesterday we saw the prices moving down through out the day. The last 30 minutes witnessed some serious upmove which took the index above 16500 and closed above 16500. Today being weekly expiry one could see the index moving closer to 16360 levels on the downside if 16480 -16460 does not hold. On the upside the index can test 16580-16610. Any breach above that can push the index to higher levels. Important levels to watch out for Bullish above 16610 Upside levels - 16680/16730 Bearish below 16580 Downside levels - 16520/16480/16420/16380 Disclaimer: Center for Research in Financial Markets and Economy (C- FAME) is an initiative of the School of Business & Management at Christ Academy Institute for Advanced Studies, Bengaluru. The views presented here are for educational purposes only. C- FAME or the author does not take any responsibility for the trades initiated based on the view presented here.
NSE:NIFTY
by binuppaul
NIFTY- Possible Trade for Today- 27-05-2022After witnessing continuous selling in the forenoon session, the market offered a pleasant surprise when it went past 16100 and closed near to 16200. While the rally was fueled by strong shorts booking their profits and weak ones covering their losses, the move from the days low to the close can be viewed as mildly positive. While Bank Nifty managed to break its recent strong resistance zone, Nifty is still trading below the recent resistance zone of 16360-16400. In the lower time frame we can see price momentum divergence and this could indicate the possibility of a minor downward move. For the day we expect the market to trade between 16360 and 16060. Any breach of the boundary mentioned could see price continuing in the direction of the breached boundary. If rejection candles are found near the levels mentioned one may go long in ATM options targeting a move in the opposite direction. Possible Upside Levels - 16260/16320/16360 Possible Downside Levels - 16120/16060 Disclaimer: Center for Research in Financial Markets and Economy (C- FAME) is an initiative of the School of Business & Management at Christ Academy Institute for Advanced Studies, Bengaluru. The views presented here are for educational purposes only. C- FAME or the author does not take any responsibility for the trades initiated based on the view presented here.
NSE:NIFTY
by binuppaul
Bank NIFTY- Possible Trades on 27-05-2022Making a massive rally of more than 700 points in the second half on monthly expiry, Bank Nifty has successfully managed to break above the recent strong zone 34700-34800. While the Nifty Bank did close above 34800, one can observe price- momentum divergence in the shorter time frame and this could indicate the possibility of a correction. If the correction does happen it can be used as an opportunity for adding to long positions closer to 34700-34800 levels. The immediate upside targets or Bank Nifty can be 35360-35580-35660. For the day and next expiry we maintain the view that Bank Nifty is likely to trade between 35660- 34700. Trades can be taken closer to either of the boundaries looking for a move to the next boundary. One may profit by buying ATM Calls or Puts when the price comes near to the price boundaries mentioned above. Levels for the day and immediate expiry Upside levels - 35360/35580/35660 Downside levels - 35050/3492/34810/34720 Disclaimer: Center for Research in Financial Markets and Economy (C- FAME) is an initiative of the School of Business & Management at Christ Academy Institute for Advanced Studies, Bengaluru. The views presented here are for educational purposes only. C- FAME or the author does not take any responsibility for the trades initiated based on the view presented here.
NSE:BANKNIFTY
by binuppaul
NIFTY Reclaims 17100- Levels to Watch for Weekly ExpiryNIFTY opened on a positive note and traded strongly in the positive side throughout the day. In the intraday chart the index made a triple bottom near 17150 levels and that could act as the strong support for the expiry. On the upside immediate resistance may come near 17260-17300 levels. Tomorrow being expiry day we may see volatility. However the broad range seem to be 17000 to 17260 for the weekly expiry. If in the open if the range mentioned is challenged by a gap down or gap up then it is wise to sit on the sidelines and wait for the market to stabilize. Otherwise trading near the boundaries once the boundaries are respected at least in 15 minute candle could prove to be profitable. Important Levels are marked in the chart. Disclaimer: Center for Research in Financial Markets and Economy (C- FAME) is an initiative of the School of Business & Management at Christ Academy Institute for Advanced Studies, Bengaluru. The views presented here are for educational purposes only. C- FAME or the author does not take any responsibility for the trades initiated based on the view presented here
NSE:NIFTY
by binuppaul