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Nifty Trading View for the Year 2016

Nifty Trading View for the Year 2016

We are in the first month of 2016. We are all set for a great year with tweaked Nifty trading views. But the start of the trading sessions is not as great as for the retail traders’ wants. The last few days were a real topsy turvy ride for the day traders. Before we come to the real analysis of Nifty, I would like to let you know that I have a professional service for my followers where I send trade alerts on the Nifty option through WhatsApp. January has started as a dream month for our subscribers and we are in good gains till now. Check our performances below:

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Live Market Example

This Nifty chart is on the Amibroker platform but it is not necessary to use Amibroker. You can use this on other platforms also. For new traders, I suggest them to go with the discount brokers. At present, Zerodha holds the number one position among Discount Brokers in India. You can go with it, or there are other stock brokers also Upstox Pro, 5paisa, Stoxkart. So, just have a look at the graph below.

Now let’s concentrate on the Nifty hourly chart. In the hourly chart, we have seen a series of consolidation and then a channel breakdown yesterday. The indicators are showing bearish crossovers to confirm downside strength. Check the image below:

nifty trading techniques

Lets now check the daily chart of Nifty. We have seen the support breakdown happened below 7540. Bearish MACD (Moving Average Convergence Divergence) indicator shows the downside strength. Channel support on the daily chart comes around 7365 zone and this channel support is dynamic, i.e. will decrease with time.

Nifty trading techniques

Lets now check the weekly chart of Nifty. We have seen a confirmed support breakdown happened below 7540. Bearish Stochastics and MACD indicators (Moving Average Convergence Divergence) show the downside strength. Channel support on the weekly chart comes around 7020 zone and this channel support is dynamic, i.e. will decrease with time.

Nifty Trading Techniques Weekly Chart

Lets finally check the monthly chart of Nifty. The monthly chart support comes in 6357. Bearish Stochastics indicator and MACD (Moving Average Convergence Divergence) show the downside strength. Channel support on the monthly chart comes around 6109 zone and this channel support is dynamic, i.e. will increase with time. So only in the monthly chart, we are in an uptrend channel, rest daily and weekly charts show we are in a confirmed downtrend.

Nifty Monthly Chart 15012016
Nifty Monthly Chart 15012016

4 top Nifty Trading View for the First 3 Months of 2016

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  1. We are in a confirmed downtrend in daily and weekly charts. Short term players Nifty trading techniques should be to sell in rallies with a stop loss of 8000.
  2. Short term players, no bottom fishing, please.
  3. Long term uptrend in the monthly chart is still intact. So have an eye on good stocks those are out-performing the market, as in any bounce back these scrips will lead the show.
  4. Some stocks that can be really good to accumulate in further dips are – ASIAN PAINT (CMP 882.30), BPCL (CMP 930.60) and RELIANCE (CMP 1072.60). Grab them in sharp dips of Nifty. If you have some more stock ideas I would like to have your comment below the post.

Conclusion

So as you can see in this Nifty trading technique, you can secure an easy profit by using this technique. To prove the strategy I’ve given real examples from the market.

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