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Thursday, 30 January 2014

Nifty February 2014 series analysis forecast for 31 January 2014 - 30 Jan 2014

Hi,

After many twists and turns Nifty finally closed below 6100 on expiry day.

Entire series expiry can be tracked at http://nifty-expiry.tracknifty.com/ . 

Low turnover couldn't avoid today's fall. Low turnover are fragile enough to give proper support for support levels. Global cues were responsible for todays fall otherwise today Nifty was expected to trade between 6100 - 6200.

We are now in selling time band which will be in effect until 4th Feb 2014. This was mentioned on 26th January 2014 in forecast blog : http://nifty-forecast.tracknifty.com/ .

Downside target is 5962.

Feb 2014 series will expire above 6200

Arrange funds and wait for 5962 to be hit. I will also post trade in trade blog. http://nifty-trade.tracknifty.com/ .

Last trade hit stop loss today. Although on 29th Nifty hit 6170 giving gain of 40 points in futures. But 6200 wasn't hit and trade finally stopped out.

Nifty Feb 2014 series future should give a bounce on 31st January 2014.

Levels : 6125, 6108, 6050, 6000

Strategy for traders

Trader should use any bounce on 31st January 2014 or on 3rd Feb 2014 for short positions for Nifty spot target of 5962.



Anjum S Khan
admin@tracknifty.com
Admin/Analyst
TrackNifty.com