NPKiran

NPKiran

Short Targets: T1 - 44050 T2 - 43500 Short Covering Levels: SC1 - 44600 SC2 - 45000 We can know the levels before hand but it is the intraday chart pattern that decides how these levels will be achieved, so be careful with the VIX and premium decay while dealing with option buying, current expiry is 4 day week due to holiday on Aug'15

NPKiran

My previous idea: Wait for Nifty 50 to break 19450 on downside for any fresh short trade As expected Nifty lived a choppy trading session on Friday to break 19450 Idea for 14th and beyond: Chart from 19300-19600 in last week display good buying and definitely not just a short covering rally Keeping this point in view 19350/19300 is crucial...

NPKiran Updated 

Nifty is trading inside the range 19800-19300 in last 5 session More precisely at the middle of the range within 200+ range from 19400-19600+ Nifty should move to either of the range boundaries 19800 or 19300, either for a breakout or reversal So far to move on the down side, last 5 trading sessions created many support levels which may not give opportunity for...

NPKiran Updated 

Nifty made a strong bullish setup before expiry Open inside 19540 - 19620 zone becomes a buy on dip scenario Open above 19620 will be a quick short covering rally with dip not less than 19620 Upside targets range from 19740 to 19800 Nifty become weak only below 19500 and will become a short market once 19400 break decisively

NPKiran

Bank Nifty is still in bearish flag pattern Bank Nifty need to breakout and sustain above 45200 for targets 45800 on upside Breaking 45000 will make it bearish with larger targets on down side though not immediately for tomorrow expiry

NPKiran Updated 

Flip Level 19550 19545 is swing high in down wave from 19800 to 19300. As long as price is below this level Nifty will be in selling pressure Friday trade couldn't write off this level at any point of time during the day though looked pretty pumped all through the session Gap up trade above 19550 R1 19600 R2 19680 Gap down trade below 19500 S1...

NPKiran

Resistance is aging in Fin Nifty before expiry, a good gap up open will bring some value to 20500-20600 CE values On the downside 20200 is very good support not just for the expiry but to determine if there will be an immediate upward momentum or consolidation It is more likely to remain a writers expiry tomorrow in Fin Nifty and towards the EOD we may see...

NPKiran

Mini Trend: Bearish with LHLL pattern Good range of 300pts from19900-to-19600 is made as base for Bears Bears will have control as long as the price remain/close inside this range Breakdown of 19600 can yield 19450 either Friday or Monday

NPKiran Updated 

Breaking 19530 will give targets at least 200pts higher and breaking 19230 will trigger distribution

NPKiran

If we compare intraday charts of previous and this week, it is easy to list down the main difference Previous Week: price bounced on every support level steady and smooth increase in price This Week: price didn't bounce from support levels price took dive from every resistance level created during intraday price moved higher either due to global...

NPKiran

Profit booking may happen again till 45000, what happens next can only drawn from updated chart. Safe to leave it alone until next moves are made clear

NPKiran

So far Nifty 50 giving only scalping moves and first hour trade indicating an upside target in the range 19600/19700 provided 19230 is intact