Nifty Spot - Divergence in both Weekly and Monthly Charts

Murrey Math and Options data based position

F&O Cues

F&O Cues Updated.

Nifty Spot EOD Chart

Review of Pre-Market Levels

Nifty Spot [6198 - 6199 - 6212 - 6235]
6304                  Day Bear Stop Loss 
6181                  Week Trend Decider Level
6241                   Day Bull Stop Loss


As given in the Pre-market as above Nifty Spot range was given as

6198 - 6235

and above 6235 Nifty was never comfortable and eventually tested the level as well (Low for the day 6234.15).

Now nifty is closing much below the significant Chinese Wall of  Resistances between 6260-6270.
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Banknifty Spot [10898 - 10900 - 10922 - 10962]
11126                 Week Trend Decider Level
11113                 Day Bear Stop Loss 

10930                 Day Bull Stop Loss

As given in the Pre-market as above Banknifty Spot range was given as

10898 - 10962

and above 10962 Nifty was never comfortable and eventually tested the level as well (Low for the day 10922).

The F&O cues can give significant hint for trading the day and these rules have to be little flexible for Mondays and the next day to expiry for a Month.

Update

Market internally weak, upmoves are being used for shorting it seems.

3 P.M

High Risk Option Calls for the Week - Reposting Yesterday's Call

6200 CE - Call for the Week
If unable to cross 149, one may write this call Option for the Week closer to 149 only.
Buy above 117 S/L - 95 Target 130 / 149 / 184 / 254  (This Call Active)

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6300 PE - Call for the Week
If unable to cross 166, one may Write this Put option for the Week Closer to 166 only.
Buy Holding above 97 S/L - 85 Target 150 / 166 / 199 / 264  (Stop Loss Hit)
Or
Buy between 55-65 S/L - 39 Target 85 / 97 /150 / 166 /199 / 264 (This Call Active)

Update

Exit Nifty calls given today.

Update

The movement as expected has started now towards EOD.  Nifty Spot has big resistance between 6260-6270 once again. An upmove requires  Higher Highes for trend continuation.

Update

Nifty has saved it's stop losses for both calls. 

2 P.M

Update

Now Nifty Future is in the specified buy zone 6240-6253.  I will be off for an hour.

Update

Neither Nifty Spot  nor Banknifty Spot have broken either the Bull Stop Loss or the Bear Stop Loss Provided in the Pre-Market Levels.  Market in Neutral Zone.

Update

Nifty moderating the OB situation.  Upmove if happens today, is likely towards last hour.

Banknifty Future Call

Buy Banknifty Future @cmp 11030 S/L Sustaining below 10982 Target1 - 11086 / Target2  - 11139 / Target3 -  11153

12 Noon

Nifty Future Update

Morning Nifty Future chart it was mentioned that Nifty Future's Strong Support zone is between 6240-6253 and Nifty Future may be bought in this range with 6230 as S/L for 6280 / 6300+.

11 A.M

Update

Trade in small quantity as I am expecting a downmove sometime this month.  Nifty is also getting Overbought.  Quick Profit booking is always a must.

Nifty 6300 CE Buy Call

Buy Nifty 6300 CE between 106-116 S/L 100 Target1 - 143, Target2 - 149, Target3 - 171.

Nifty Hourly Chart as on 10.30 A.M 14th Jan, 2014

Banknifty CE11000 Buy Call

Buy Banknifty CE11000 260-270 Range S/L 230 Target1 - 304 / Target 2 - 341

Update

Nifty and Banknifty Key Values Updated.

10 A.M

Nifty Future Retracement Table

Nifty future should get support between 6240-6253 and resistance zone between 6282-6312 and Major resistance is at 6358.

                         Banknifty Future has huge resistance between 11000-11250

Pre-Market Levels For 14th January , 2014 Working

Nifty Spot [6198 - 6199 - 6212 - 6235]
6304                  Day Bear Stop Loss 
6181                  Week Trend Decider Level
6241                   Day Bull Stop Loss

Nifty Future (6178/81 - 6217 - 6253/63 - 6351 as Par FnO cues)
6335                     Sell All
6316-6326            Sell Zone / Crucial Weekly Target 6316
6280-6282            Stiff Resistance
6263-6274            Support / Resistance
6252                     Buying Level
6240-6249            Good Support / Buy Zone
6233-6238            Strong Buy Zone / Sell Below
6219                     More Weakness below / Support
6206-6212            Buy All

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Banknifty Spot [10898 - 10900 - 10922 - 10962]
11126                 Week Trend Decider Level
11113                 Day Bear Stop Loss 
10930                 Day Bull Stop Loss

Banknifty Future (10861/66 - 10962 - 10094/11012 - 11166 as Par FnO cues)
11248-11293          Sell All / 11263  Week - T1
11206-11230          Stiff Resistance 
11100-11126          Strength Above / Crucial Weekly Target 11125
11002-11076          Support / Resistance
10968-11010          Support Zone / Buy Zone
10880-10914          Buy All / Sell Below