Dated :- 31.12.2013 (SUNDAY)

                                                             NIFTY  Spot :   6304

Hi,

Readers,

FIRST OF ALL

WISHING ALL OF YOU AND TO YOUR FAMILY

A VERY HAPPY AND PROSPEROUS NEW YEAR…..

Nifty is stuck in a range. And today, it again closed above 6300.

Now this closing above 6300 again in this week after a consolidation is important.

What this closing above 6300 means :-

It means that now the game is open.

NOW, Nifty till it is above 6200 -6220 level it can try to trade with +ve bias. Higher levels to watch from here on up side are 6370 and 6420.

And on the down side view is same as was mentioned in my previous blog.

That is :-

For Nifty 6200 - 6220 is very important level, below which the Nifty shall trade with –ve bias. Breakdown of Nifty shall be below 6150.

Trade accordingly.

Dated :- 29.12.2013 (SUNDAY)

                                                         NIFTY  Spot :   6313.8

Hi,

Readers,

Nifty remained in very small range of 65 points only in last week. Made a low of 6259 and high of 6325.

Now What  :-

View for Nifty is same as was mentioned in my previous blog dated Dec. 22, 2013.

That is :-

There are some times in the market when one has to wait for some time and play cautiously. This is that time.

Because this rebound has to go and sustain comprehensively above 6420 for this rebound to be effective. Multiple technical indicators are showing that crossing 6420 and sustaining above it is not easy for Nifty.

And if Nifty does not cross and sustain comprehensively above 6420 then it will be inclined to come down. For coming week 6200 - 6220 is very important level, below which the Nifty shall trade with –ve bias. Breakdown of Nifty shall be below 6150.

Do not be an aggressive buyer in Nifty wait for it to come down below 6200 when it will trade with –ve bias and below 6150 breakdown level of Nifty. Where there will be shorting opportunities. Trade accordingly.

Till than watch and step aside and wait for next course of action as & when it happens, it will be updated on the blog.

Dated :- 22.12.2013 (SUNDAY)

                                                        NIFTY  Spot :   6274.25

Hi, 

Readers,

Nifty did exactly the same as was mentioned in my last blog dated Dec. 15, 2013. As was mentioned, Nifty rebounded.

It was clearly mentioned in my blog that Nifty is poised for rebound and that bound will decide the fate of Nifty going forward.

Rebound was predicted in the blog in spite of a strong bearish reversal pattern (ISLAND REVERSAL PATTERN). And Nifty did actually rebounded and closed at the highest point of the week.

Now What  :-

Nifty rebounded up to 6284 and in general mind set of traders would be bullish.

But I would like to give a caution here.

There are some times in the market when one has to wait for some time and play cautiously. This is that time.

Because this rebound has to go and sustain comprehensively above 6420 for this rebound to be effective. Multiple technical indicators are showing that crossing 6420 and sustaining above it is not easy for Nifty.

And if Nifty does not cross and sustain comprehensively above 6420 then it will be inclined to come down. For next week 6200 is very important level, below which the Nifty shall trade with –ve bias. Breakdown of Nifty shall be below 6150.

Recommendation :-

Do not be an aggressive buyer in Nifty wait for it to come down below 6200 when it will trade with –ve bias and below 6150 breakdown level of Nifty. Where there will be shorting opportunities. Trade accordingly.

Till than watch and step aside and wait for next course of action as & when it happens, it will be updated on the blog.

Dated :- 15.12.2013 (SUNDAY)

                                                                      NIFTY  Spot :   6168.4

Hi,

Readers,

As it was clearly mentioned in my last blog that if Nifty closes below 6240, Readers should close all the long position and step aside.

Nifty closed at 6237 on Thursday and immediately on next day gave gap down open and maintained that gap and closed at 6168.4. It is always better to close the position on time. And the readers of this blog had the opportunity to exit at right time.

Now What  :-

Nifty is poised very interestingly at this point.

It has made an ISLAND REVERSAL PATTERN on daily chart. Which is a very strong reversal pattern and has the potential to force Nifty to go down. Which may happen or not time will tell.

This pattern will hold good till the time Nifty is closing below 6230. This pattern will fail once Nifty will give close above 6240.

But on an immediate basis Nifty seems to be taking support of 6070 to 6100 levels. Expect a small rebound in Nifty in coming days. This rebound will decide the fate of Nifty.

Important levels to watch for Nifty are :-

Level of 6240 on up side for rebound, which is very important level for multiple reasons.

Level of 6070-6100 around levels which seems to hold and force Nifty to rebound. Very short term charts of Nifty are showing that it is deeply oversold and can rebound any time.

Trade accordingly.

Dated :- 11.12.2013 (WEDNESDAY)

                                                       NIFTY  Spot :   6307.9

Hi,

Readers,

I am back from my religious trip.

Now What about Nifty movement :-

Nifty made new all time high on Monday Dec. 08, 2013 and today it is standing at 6307.9.

Nifty charts are showing that Nifty is in uptrend and trying to consolidate.

Till the time structure of Nifty is intact one should look to buy on dips.

If Nifty gives close below 6240 than exit the long position and step aside. And wait for next course of action.

Dated :- 03.12.2013 (TUESDAY)

                                             NIFTY  Spot :   6201.85

Hi,

Readers,

As was predicted by me in my blog dated Dec. 01, 2013 about DOW that it has made bearish pattern. DOW as has done the same and came down yesterday and started correcting.

Now taking cue from DOW other Foreign Market may also correct.

Nifty today has stalled at 6200 level to close at 6201.85 and gave a sign of fatigue.

It is recommended to close all long positions here and book profits.

Wait for the next course of action as the coming days are news heavy.

Till 6250 is not taken out on closing basis on upside Nifty will give correction.

Note Readers :-

I will be out town on a Religious Trip. And will update next blog on December 11, 2013.

Dated :- 01.12.2013 (SUNDAY)

                                                                          NIFTY  Spot :   6176.1

Hi,

Readers,

Last week Nifty gave good rebound which was the result +ve divergence in RSI. Which as was clearly explained in my last blog Dated Nov. 24, 2013 wherein chart was also attached showing +ve divergence.

Whenever the breakout of this +ve divergence pattern in RSI happens Nifty always rebound from there.

NOW WHAT :-

Till the time Nifty is closing above 6085 it will trade with +ve bias.

Thus keep trailing stop loss of your long position at 6085 closing basis. So that even if Nifty comes below 6085 one will be in profit.

For non professional traders and those traders who want to take less risk IT IS BEST  TO BOOK PROFITS AND STEP ASIDE and wait for next move to come. Till then play intraday only.

Nifty is still in a range. Broadly the range for Nifty for this week is 6025 - 6350

However corrections will keep on coming.

This is also not the time to be extra bullish in Nifty.

Only ride the trend and movement.

For Nifty 6230 – 6250 is important resistant area.

Keep booking the profits regularly in your long positions.

December month will be very volatile and news heavy.

Book profits on every rise in Nifty and wait for dips.

Till 6350 is not taken out comprehensively Nifty will remain in Range and will be very volatile.

Important point I would like to bring to notice to readers of this blog is that keep an eye on the chart of DOW which can prove to be spoil sport.

DOW has made one candle stick pattern called “GRAVE STONE DOJI” some technical analyst also call it “SHOOTING STAR”.

Interestingly DOW has made this pattern in BOTH DAILY AND WEEKLY CHARTS WHICH IS AN IMPORTANT CO-RELATION.

This candlestick pattern is bearish candle stick pattern. Breakdown of this pattern will inject correction in DOW which may force Nifty to correct. Historically correction in world markets also lead to correction in Indian Market also.

Dated :- 24.11.2013 (SUNDAY)

                                                       NIFTY  Spot :   5995.45

Hi,

Readers,

After sharp fall as was timely cautioned in my blog dated Nov. 19, 2013 Nifty chart is showing interesting chart patterns at present.

On one hand on daily charts Nifty is showing that it is on the verge of breaking down bearish head and shoulder(H&S) pattern below 5940. And co-incidentally downward sloping channel is also at 5930.

Thus 5930 becomes very important level. Close below this level will give bearish H&S breakdown and channel breakdown.

On other hand on hourly charts Nifty chart is showing that it is oversold at this point of time. Nifty hourly chart is also showing +ve divergence on RSI.

Which indicates that Nifty wants to rebound.

CHARTS ATTACHED.

This week is expiry week also thus volatility will be there.

For current week 6140 will be a very important level in case of rebound. 

DAILY CHART SHOWING
H&S PATTERN &
CHANNEL

HOURLY CHART SHOWIMG
+VE DIVERGENCE ON RSI

Trade accordingly.

Dated :- 21.11.2013 (THURSDAY)

                                                          NIFTY  Spot :   5999.05

Hi,

Readers,

In my last blog on Nov. 19, 2013 (Tuesday) it was advised to profit in all the long positions when the Nifty was at 6203.

Result is in front of you.

My prediction proved true and Nifty came down sharply 200 points from there in just two days.

I hope readers would have enjoyed the profits and timely caution.

Dated :- 19.11.2013 (TUESDAY)

                                                                 NIFTY  Spot :   6203.35

Hi,

Readers,

As was mentioned in my last blog that if Nifty crosses 6170 it will gain strength. Yesterday it did the same.

Today Nifty showed strength and was up only 14 points and closed at 6203.35.

NOW WHAT :-

Nifty close above 6170 should have given more strength to Nifty and it should have moved up with good pace.

But since Nifty was up only 14 points today which shows that the quality of strength which should have been there may or may not be there.

So, what does readers do:-

It is always better to be on safe side and protect profits first.

Whenever you have any indication of doubt you should first think of protecting profits first.

Since I do not write blog during market hours thus readers would not be able to get the idea what Nifty exactly is doing. Since readers of this blog are long from 5980 around levels. And some might have made further longs yesterday when Nifty went above 6170.

Thus readers of the blog are advised to book profits from all Longs in Nifty and step aside.

Enjoy the profit.

Dated :- 18.11.2013 (MONDAY)

                                                                    NIFTY  Spot :   6189.00

Hi,

Readers,

As was mentioned in my last blog that 6170 level is important for Nifty. And it was also mentioned that above 6170 do not short Nifty.

I predicted rebound in Nifty in my blog dated Nov. 12, 2013 in which it was mentioned that 5950 will hold and Nifty will rebound from there. And it has done the same.

NOW WHAT :-

Nifty has given close above 6170 level and those readers who are long in Nifty should keep strict stop loss in Nifty at 6110.

As the rise in Nifty is fast and the stop loss in Nifty is not far it is recommended to book part profit in Nifty and carry the balance position with strict stop loss of 6110.

Dated :- 17.11.2013 (SUNDAY)

                                                          NIFTY  Spot :   6056.15

Hi,

Readers,

As was mentioned in my last blog that Nifty has support at 5950 levels and is expected to rebound from there. Nifty did exactly the same, it made a low of 5972 and rebounded 130 points from there. It made a high of 6101 and closed at 6056.15.

I hope readers would have enjoyed the profits.

Now what :-

Till the time Nifty is closing below 6170 on daily charts this rebound should be treated as trading rebound only. Means that this rebound should be used to book profits in long positions.

 Because, till the time Nifty is closing below 6170, charts are showing that Nifty can come down any time.

But if it closes and stays above 6170 than the immediate downtrend would be arrested.

NUT shell :

6170 level is important to keep in mind.

Below 6170 do not be make long in Nifty.

Above 6170 do not be short in Nifty.

For next move on Nifty as and when it occurs Keep reading the Blog.

Dated :- 12.11.2013 (Tuesday)

                                                             NIFTY  Spot :   6018.05

Hi,

Readers,

It gives me immense pleasure to say that we predicted the top for this rally pin point.

 Exactly on DIWALI DAY it was mentioned in my blog that BOOK PROFITS in all long positions and close all long positions and take LAXMI HOME on MUHURAT day. It was also mentioned that correction in Nifty is coming.

Readers of this blog had the opportunity to exit all long positions when the NIFTY was highest.

Now what :-

As was mentioned in my last blog that 6100 to 6230 would be the battle ground of bulls and bears. Which proved to be true. After breaking 6100 Nifty fell nonstop to 6011 level and closed at lowest point of the day.

I hope readers would have enjoyed the profit.

Now the next support for Nifty is coming at 5950 - 5900 levels. From where rebound can be expected.

Enjoy the profits.

Dated :- 10.11.2013 (SUNDAY)

                                                                        NIFTY  Spot :   6140.75

Hi,

Readers,

As was mentioned in my last blog that the level of 6100 to 6230 will be a strong battle ground of bulls and bears.

The same is happening. Nifty is still in the battle ground and the tussle is on.

Nifty movement will be volatile.

Trade accordingly.

Dated :- 06.11.2013 (WEDNESDAY)

                                                                          NIFTY  Spot :   6215.15

Hi,

Readers,

It was clearly mentioned in my blog on DIWALI day that correction is coming and thus book profits from all long positions completely. I hope readers would have enjoyed the correction.

Readers of this blog had the opportunity to exit all longs at highest level of Nifty at 6342. Today Nifty is standing at 6215.

NOW WHAT :-

The level of 6100 to 6230 will be a strong battle ground of bulls and bears.

Nifty movement will be volatile.

Trade accordingly.