Dated :- 30.01.2014 (THRUSDAY)

                                                        NIFTY  Spot :   6073.7

Hi,

Readers,

Nifty did exactly as was mentioned in my previous blogs.

I had been continuously maintaining the stand when the Nifty was above 6300 that Nifty will not cross 6420 and will come down.

Nifty made a low of 6027 today.

Like many times before, it gives me great satisfaction that I have again predicted the top for Nifty in advance.

Enjoy the profits.

Book profits for once.

Good profit in short period of time.

Keep reading the blog for Nifty’s move.

Dated :- 26.01.2014 (SUNDAY)

                                               NIFTY  Spot :   6266.75

Hi,

Readers,

FIRST OF ALL

HAPPY REPUBLIC  DAY

What a day to write today’s blog.

Which gives double pleasure one of Republic Day and the second of accurate prediction on Nifty once again like many times before.

Readers of this blog should note that I have been regularly maintaining the stand in my previous blogs that Nifty will not break 6420. And 6360 will act as major resistance. And Nifty did exactly the same.

This once again proves the point that Nifty movement can be predicted through technical analysis.

Nifty even after its many days of consolidation managed to touch only 6355 (could not break 6360) and came down sharply.

There were many technical indicators which were saying that 6420 will be very hard cookie to bite. And whenever this happens Nifty normally falls sharply.

I hope readers would have enjoyed my caution and the fact that Nifty will be inclined to correct & 6420 will not break.

Now What :-

Nifty has corrected as expected.

Now Nifty will trade with –ve bias below 6230.

Below 6150 further downside can be expected.

Remember in these kind of scenarios Nifty movement either becomes sharp or it becomes volatile.

Now on upside 6360 & 6420 will remain major resistance.

Enjoy the profits.

On Jan. 28, 2014(Tuesday) there is RBI policy. Keep watch of that also.

Dated :- 22.01.2014 (WEDNESDAY)

                                                           NIFTY  Spot :   6338.95

Hi,

Readers,

Nifty is still stuck around 6300 levels.

Nifty will trade with negative bias below 6230. As I have been regularly mentioning in my earlier blogs.

Today’s close of Nifty at 6338.95 is important.

As it is threatening the resistance level of 6360. This 6360 till now was acting as big resistance.

But this time Nifty movement is also accompanied by of Bank Nifty which is also making good patterns on hourly & daily charts (subject to confirmation).

Co-incidentally Nifty and bank Nifty both are threatening resistance levels at same time.

If they are able to break their respective resistance levels comprehensively than further upside movement can be possible. 

But that upside movement if at all it comes be used to trade only. Take profit and run away.

That movement should not be used to invest.

Trade accordingly.

Dated :- 19.01.2014 (SUNDAY)

                                                          NIFTY  Spot :   6261.65

Hi,

Readers,

Nifty moved exactly as was mentioned in my previous blog dated Jan. 12, 2014.

It was clearly  mentioned that 6420 will not break.

Nifty took the resistance mentioned in my blog at 6360.

Mostly all the stocks are coming down. Many of them are even showing bearish patterns.

Although Nifty is being held at this level by using very few index stock. Usually this kind of thing is described as Index Management.

Those readers who followed the blog would have gained & enjoyed my timely caution.

I am also enclosing snapshots of charts showing exactly the levels at which Nifty took resistance and support. On the basis of one of my analysis.

Chart no. 1.

Showing that Nifty is taking resistance & support on exactly the lines circled by me for readers.

Chart no. 2:-

Showing how Nifty gives respect to technical levels.

Weekly chart showing bearish Head & shoulder pattern the breakdown of which is below 6150.

Chart no. 3 :-

Bank Nifty Daily chart.

Showing Big Bearish Head & shoulder pattern in the making.

Breakdown is still to come.

Now What :-

Nifty is still in a range.

Do not be bullish.

Nifty is facing big resistance at 6360 as was mentioned by me in my earlier blogs.

Nifty will trade with bearish bias below 6230.

And below 6150 major level. Its structure will be further weak. And further lower levels can be expected on breakdown below 6150.

Trade accordingly & enjoy the profits.

NIFTY DAILY CHART
SHOWING HOW NIFTY IS TAKING RESISTANCE & SUPPORT AT LINES CIRCLED

NIFTY WEEKLY CHART
SHOWING HOW NIFTY IS GIVING RESPECT TO 6150
CLOSING WEEKLY BELOW WHICH BREAKDOWN OF BEARISH HEAD & SHOULDER PATTERN 

BANK NIFTY DAILY CHART
WHEREIN BIG BEARISH HEAD & SHOULDER PATTERN IN THE MAKING

Dated :- 12.01.2014 (SUNDAY)

                                                         NIFTY  Spot :   6171.45

Hi,

Readers,

  

Nifty moved exactly as was mentioned in my previous blog dated Jan. 05, 2014.

It was mentioned that the trend is down.

Nifty will be inclined to come down.

It was also mentioned that on higher side 6420 level will not break. Because there were many technical reasons for that.

And readers must have noted that Nifty made high of 6358 and came down sharply from there.

This indicates that the technical analysis have a definite depth.

It was also mentioned that Nifty’s down move in first half of the week will once again make Nifty oversold and will force Nifty to rebound from that level.

And it was also mentioned that any rebound up to 6250 and 6280 will be an opportunity to SELL.

Nifty fulfilled every thing mentioned in the blog.

Nifty went down in first four days of the week.

On Friday Nifty rebounded to 6240 (which was mentioned in my blog as selling opportunity). From there Nifty fell 80 points with in 75 minutes and made a low of 6162.

I hope readers would have enjoyed the profits.

NOW WHAT :-

Now Nifty has resistance at 6265 – 6360 & 6420.

Nifty has still not given breakdown of 6150 which I have been constantly mentioning in my earlier blogs.

Below 6150 Nifty’s structure will be more week.

Timely profit booking regularly is must. Because these trading ranges sometimes can be very surprising also.

Enjoy the profits.

Dated :- 05.01.2014 (SUNDAY)

                                                       NIFTY  Spot :   6211.15

Hi,

Readers,

Nifty did exactly the same as was mentioned in my last blog.

It was clearly mentioned in last paragraph of my previous blog that if:-

Nifty goes down from 6221 run through, without pausing at 6221, than Nifty will be deeply oversold and would rebound.

You must have observed, Nifty went down run through below 6221 & touched a low of 6171 and rebounded back to close at 6211.

The condition for this rebound was that, if Nifty goes down run through without pausing at 6221.

Because once the indicators become deeply oversold they do not allow Nifty to go down further without pause or rebound.

Again let me reiterate that the structure of Nifty has started becoming weak (subject to final confirmation).

At present Nifty is still holding support levels.

But it seems that Nifty is only showing that it is trying to hold support levels.

My repeated warning was do not be extra bullish and 6420 will be very difficult to take out.

And now looking at the technical indicators it looks that it is just a matter of time that Nifty breaks these support levels.

Now What :-

Nifty is still holding support levels.

Nifty structure has started becoming weak (subject to final confirmation).

Looking at the charts it looks that Nifty will not be able to cross 6420 without going down.

Rebound to 6250-6280 levels can be possible and if at all that happens, it will be shorting opportunity.

But remember shorting shall be done in controlled quantity as the Nifty is still holding support level of 6200 and 6150.

Another thing is that Nifty will be volatile while coming down and sharp swings can come.

Because if Nifty will come down in first half of next week than it will again be oversold.

Thus it is also advised to keep booking profits also.

As in technical analysis, it is “PAAP” to make loss in a trade which comes in grip.

Trades once identified and comes in grip should always be closed in profit only. Howsoever small it may be.

Because it is the conditions which decide the quantum of profit.

Trade accordingly.

Dated :- 02.01.2014 (THURSDAY)

                                                      NIFTY  Spot :   6221.15

Hi,

Readers,

Nifty did exactly the same as was mentioned in my last blogs.

It was clearly mentioned to be cautious. It was also warned number of times in my recent blogs that crossing 6420 is not easy for Nifty.

There are many technical indicators which indicate that crossing 6420 is very difficult.

On Dec.31, 2013 when Nifty closed above 6300 it was mentioned that Nifty can try to touch 6370.  And look, Nifty went up today and managed to touch only 6360 and fell down from there.

I hope readers would have enjoyed the caution given by me in my earlier blogs.

Where it was mentioned numerous times that this is not the time to be extra bullish.

Thanks for the overwhelming response send by readers to me. I write the blog only on the basis of whatever I see on charts.

Now What :-

There was intraday sell today when professional traders should have taken sell position and should have booked part profits in that also.

See, Nifty has closed above 6200-6220 support level mentioned by me many times in my earlier blogs. Nifty closed exactly at 6221 giving respect to support levels.

Nifty will trade with further –ve bias below 6200 and breakdown of Nifty will come when it shall trade comprehensively below 6150. Same as was mentioned by me in my previous blogs.

Those who know and understand the technicals should also watch that Nifty has started becoming oversold and if it breaks support levels run through from here without pausing. Than it will make Nifty more or deeply oversold. And we all know that deeply oversold Nifty usually pause or give rebound. Thus be care full for position sizing while planning the trades and do keep booking profits. Because rebounds sometimes can turn into short covering.