Nifty Outlook
It was a flat day on 5th november. Nifty again tries to reach its 200 ema level at 5340. It is showing good support at 5240 and below that 5160 this hard to break. Trend-line resistance stands at 5460 as you can observe in the daily and weekly charts below. This is very strong Trend-line resistance that Nifty unable to cross since one year from November 2010. That is the area where one can go for good amount of shorts with trend-line resistance as stop-loss.
Nifty Levels for the trading week starting Nov-8th-2011
5160 << 5240 << 5280 >> 5340 >> 5390 >> 5460
Indicators
Daily and weekly charts show positive move in indicators. No negative divergence as such.
Ichimoku chart
It shows resistance at 5514 in weekly Ichimoku charts and Daily charts it is already in buy mode.
Open Interest
Highest OI is building up in 5400CE and 5500CE. So the coming week is going to be a consolidation zone for Nifty from OI view point.
Daily Chart (click on the images to enlarge)
Nifty Daily OHLC Chart
Nifty Weekly Chart
Nifty Weekly Ichimoku Chart
Author of AnalystCalls. Have you checked my most viewed articles on how to download and configure Free EOD, IEOD & Real-time data of NSE, MCX into Amibroker? Here are the details [LINK] .
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Hi Priya,
your nifty preditction levels are so good. From October I got profits based on your prdiction level. your Ichimoku and smooth rsi superb. I didn’t have Ichimoku and smooth rsi in my amibroker. I search for this Afl Code in your AMIBroker AFL Section. Could you please post the Ichimoku and smooth rsi Afl Code with your parameters in Amibroker Afl Section. It will be helpful for me and your site followers also.
Thanks
Krish P.M
Thanks Krish for getting benefited from my Analysis.
Sure I will post the AFLs you asked for. Do share this site with your friends and let everyone get benefited.
This community is for everyone to learn and earn.
Regards
Priya
Hi Priya, please post one articles about ‘How we back testing different option strategy in Amibroker ? or their is any other back testing software where I test different option strategy ?
Thanks
Azad
Hi Azad, You can use OptionsOracle software. I generally use manual analysis if a stock comes to my observation and accordingly think of the suitable less risky strategy.
Software wont tell which is suitable.
It just may give you break-even idea and not more than that.
This break-even you can calculate in no time based on the difference of premiums and based on the type of spread.
Surely I will come up with an article regarding which option-strategy to choose and which stocks to prefer. Mean-while go through my article about Covered call and Put strategy..[LINK] It answers most of the basic fundamental queries of option-strategies.