Dated :- 30.09.2013 (MONDAY)

                                                              NIFTY  :   5735.3

Hi,

Readers,

Refer to my blog on September 22, 2013 when the Nifty was at 6012 when it was mentioned in the blog that whatever the Nifty will do ultimate destination of Nifty is 5750 - 5800. Today Nifty has made a low of 5718.

As mentioned in my last blog yesterday on September 29, 2013 that the Nifty chart is showing weakness, Nifty did exactly the same. It fell 115 points today only.

I hope readers would have enjoyed the profits.

Keep booking profits on your short position regularly. Remember that coming days of Nifty may be full of volatility. The market is oversold at this point & a small rebound can come any time. 

Dated :- 29.09.2013 (SUNDAY)

                                                          NIFTY  :   5833.2

Hi,

Readers,

Nifty is chart is showing weakness. Another interesting thing in Nifty chart is that it is making Bearish Head & Shoulder pattern the breakdown of that is below 5800. The target of this Bearish head & shoulder pattern is 5500-5550. Chart attached.

Trade accordingly.

Dated :- 25.09.2013 (WEDNESDAY)

                                                                               NIFTY  :   5873.85

Hi,

Readers,

 Nifty moved as I had mentioned in my last blog dated September 22, 2013 when it was at 6012. It almost touched twice the level of 5800 mentioned in the blog and made a double bottom at 5811 in intraday charts and rebounded from there, and make a high of 5884 within no time to close at 5873.85.

 I hope readers would have enjoyed the profits even when the market conditions are very volatile.

Here are the quotes of my last blog :-

“Nifty on Friday has made bearish engulfing candlestick pattern. This week is an expiry week also, thus expect volatile movements in Nifty. The Nifty chart is showing that it is willing to come to 5750-5800 levels over the period of time. Even if Nifty gives small upside movement its destination is 5750-5800. After coming to 5750-5800 Nifty will decide, whether it wants to spend some time their or take a move (At that time the position shall be reviewed that what the charts are indicating).”

Keep reading the Blog for moves of Nifty as and when it happens & enjoy the profits.

Dated :- 22.09.2013 (SUNDAY)

                                                           NIFTY  :   6012.1

Hi,

Readers,

  

As was advised in last blog to play the volatility and do not take any positional call on the market as the overall trend is down and market is moving higher on back of positive news.

Thus in these kind of situations long positions are not justifies as even a single adverse news will give sharp fall. The result was also evident on Friday on adverse news from RBI. Also positional shorting was also not advised as it was mentioned that there were no clear signs of making short position. So, in these kinds of days the best thing one can do is to play volatility and book very small profits.

Good news whenever it comes is always expected and market waits for it to come. But... But… bad news always comes suddenly.

Result is in front of you, rise was fast and the decline was also as sharp as the rise was.

Remember as part of discipline one has to take positional call in the direction of the trend and when one takes a contra trend trade(i.e. against the trend) look to book profits at the earliest.

I had also mentioned that despite this big up move trend of Nifty has not yet reversed, and trends don’t reverse in abrupt fashion. Also, after 1000 points rally in Nifty do not expect the trend to reverse run through without making pattern. Even if it wants to reverse, it will make some pattern and consolidate.

Now What :-

Nifty on Friday has made bearish engulfing candlestick pattern. This week is an expiry week also, thus expect volatile movements in Nifty. The Nifty chart is showing that it is willing to come to 5750-5800 levels over the period of time. Even if Nifty gives small upside movement its destination is 5750-5800. After coming to 5750-5800 Nifty will decide, whether it wants to spend some time their or take a move (At that time the position shall be reviewed that what the charts are indicating).

  

Trade accordingly.

Dated :- 12.09.2013 (THRUSDAY)

                                                          NIFTY  :   5850.7

Hi,

Readers,

As was mentioned in last blog to book the profits and step aside. I hope readers would have booked profits.

Now What :-

Since market is showing volatile movement and the overall trend of the market is still not reversed (i.e. it is still down). And there is no clear sign of making short position as of now.

Thus keep playing the volatility and choppiness with low quantity and with the idea of small profits.

Note :- Remember one thing that till now the trend has not reversed. And also remember that whenever any trend reverses that does not reverse in abrupt fashion. It will make chart pattern and give trading opportunity.

Kindly Attention :-

I am out of town till September  19, 2013. Will be updating my next blog after 19^th  September.

Dated :- 09.09.2013 (MONDAY)

                                                           NIFTY  :   5680.4

Hi,

Readers,

As was mentioned in last blog Nifty showed reversal pattern and wanted to rebound, it gave reversal with volatility and touched 5688.

The technical pattern works !!!

Now What :-

Those who are long are advised to book profit on rise to 5750 – 5800 and step aside. However there is bullish head & shoulder pattern on hourly charts but it is always advisable to play the bear market rallies with utmost care & pick the profits.

Wait for the next course of action as and when it happens.

Note :- Overall long term trend of Nifty has not yet turned bullish and is still down and this reversal move should be treated as a technical rebound only.

Dated :- 01.09.2013 (SUNDAY)

                                                         NIFTY  :   5471.80

Hi,

Readers,

Nifty was very volatile in the last expiry week exactly what was mentioned in my last blog. Incidentally last week close was also at same level.

Nifty has made double hammer in weekly charts. It is a rare pattern which indicates that Nifty wants to give further rebound.

Also in daily charts Nifty is making Double bottom which is a reversal pattern.

Important Point to remember here is that overall trend of Nifty is down. This pattern should be viewed as rebound only. Trade accordingly.

Another important point is that these are the patterns which are in the making. Breakout of these patterns is yet to come.

For Nifty 5520 level is very important.

Nifty Above 5520 and stays above 5520 is a buy. But for this rebound, there is a condition that once it closes above 5520 it should not give close below 5450. If it closes below 5450 than this rebound pattern will fail.

Do not make long position till Nifty is below 5450.

But where to short ??? For this keep reading the blog it will be updated as and when it happens.

Nifty has to stay above 5520 to confirm this rebound and the target of which is around 5700 – 5750 levels. But remember in this move, try to book profits on every rise as the overall trend is down.

Nifty will give very small trading opportunities, watch for the level of 5700 for rebound and 5250 for downside for time consuming process. Nifty wants to consume some time in range. But in this time consuming process stock specific opportunities will be there.

Book small profits in Nifty as virtually daily opportunity will be there.

Trade accordingly and be nimble footed.

NIFTY DAILY CHART

SHOWING  DOUBLE  BOTTOM  PATTERN

NIFTY  WEEKLY  CHART

SHOWING  DOUBLE  HAMMER