NiftyEOD Chart, 29-05-09

This is for education purpose only and may not be useful for trading

Trend is up with stoploss at 4100. Recent gap is 5th gapup.
Weekly resistance: 4500. Next res 4650.
Options are very expensive with 4500 strike price priced at 370 for call and put.

NiftyEOD Chart, 28-05-09

This is for education purpose only and may not be useful for trading

Trend is up with stoploss 4000-3700. Recent gap is 5th gapup.
Strong resistance at 4460 (monthly/ weekly charts).
Any correction shd intially get limited to RSI supports (red line; EOD chart).

NiftyEOD Chart, 27-05-09

This is for education purpose only and may not be useful for trading

Trend is up with stoploss 4000-3700. Recent gap is 5th gapup.
Strong resistance at 4460 (monthly/ weekly charts).
Any correction shd intially get limited to RSI supports (red line; EOD chart).

NiftyEOD Chart, 26-05-09

This is for education purpose only and may not be useful for trading

Trend is up with stoploss 4000-3700. Recent gap is 5th gapup.
Strong resistance at 4460 (monthly/ weekly charts).
Any correction shd intially get limited to RSI supports (red line; EOD chart).

NiftyEOD Chart, 25-05-09

This is for education purpose only and may not be useful for trading

Trend is up with stoploss 4000-3700.

Recent gap is 5th gapup.

Strong resistance at 4460 (monthly/ weekly charts).

NiftyEOD Chart, 22-05-09

This is for education purpose only and may not be useful for trading

Trend is up with stoploss 4000-3700.
Due to high VIX, buying options is not recommended.
Recent gap is 5th gapup.
Strong resistance at 4460 (monthly/ weekly charts).

NiftyEOD Chart, 21-05-09

This is for education purpose only and may not be useful for trading

Trend is up with stoploss 4000-3700.
Due to high VIX, buying options is not recommended.
Recent gap is 5th gapup.
Strong resistance at 4460 (monthly/ weekly charts).

NiftyEOD Chart, 20-05-09

This is for education purpose only and may not be useful for trading


Trend is up with stoploss 4000-3700.

Recent gap is 5th gapup.

Strong resistance at 4460 (monthly/ weekly charts).

NiftyEOD Chart, 19-05-09

This is for education purpose only and may not be useful for trading

NiftyEOD Chart, 14-05-09

This is for education purpose only and may not be useful for trading

Markets at lower end of range with 3500 still holding. In addition,
RSI supports are also holding (red line, EOD charts).
As written earlier, the trend will reverse if this level breaks.
The 2 day swing has already given an exit...

NiftyEOD Chart, 13-05-09

This is for education purpose only and may not be useful for trading

Volatile day....the trading range is 3500-3730.
Given the high volatility in the markets, avoid buying options.
From the start of this month, we have been writing both OTM calls and puts as the pure risk premium for ATM strikes is roughly 150 points....this is great considering the fact that this will vanish by expiry.
If you are long, keep 3500 as SL.

If you are short, keep 3730 as SL.
In between, do nothing.

If you feel compelled to do something, then write 3800 calls and 3500 puts...you can still earn 170 points (keep funds for hedging).

NiftyEOD Chart, 12-05-09

This is for education purpose only and may not be useful for trading


Markets bounce off RSI supports and are back to recent highs.


While the bounce was along expected lines, the extent of rally was not expected.

The recent highs are at 3720 and crossover above this will be bullish. At the same time, caution or tight stoplosses are called for given the high volatility in the markets.

NiftyEOD Chart, 11-05-09

This is for education purpose only and may not be useful for trading



Markets break 3600 in future and force an exit on long positions.
Cluster Island Reversal confirmation required a big gap down opening today.
This did not happen though markets eventually broke supports. Now next support is at 3500 levels. We may also near RSI supports on EOD charts.
Short term trend is down with stoploss / reversal at 3700.

NiftyEOD Chart, 08-05-09

This is for education purpose only and may not be useful for trading



Buy signal holds with SL at 3600 (fut; gap).

Option writing points to support at 3400 and resistance at 3800.

Futures charts point to possible "cluster island reversal". A gap down opening next week will be the confirmation.

NiftyEOD Chart, 07-05-09

This is for education purpose only and may not be useful for trading

Buy signal holds with SL at 3600 (fut; gap).

Option writing points to support at 3400 and resistance at 3800.

NiftyEOD Chart, 06-05-09

This is for education purpose only and may not be useful for trading

Buy signal holds with SL at 3600 (fut; gap).

Above 3520, markets can rally to 3520+(3520-3300)=3740. Today, markets reached3720 and sold off and retested recent supports.

Option writing points to support at 3400 and resistance at 3800.

NiftyEOD Chart, 05-05-09

This is for education purpose only and may not be useful for trading



Buy signal holds with SL at 3600 (fut; gap).

Above 3520, markets can rally to 3520+(3520-3300)=3740.

Option writing points to support at 3400 and resistance at 3800.

NiftyEOD Chart, 04-05-09

This is for education purpose only and may not be useful for trading

Buy signal today as nifty crosses and closes above 3520...

Above 3520, markets can rally to 3520+(3520-3300)=3740.