Dated :- 29. 06. 2014

                                                             NIFTY SPOT : 7508

 Hi,

Readers,

Nifty is still standing at around 7500 level.

In my previous blog dated June 26, 2014(Thursday) night  it was mentioned that this time probability of Nifty breaking below 7490 support is high. Which proved right also.

Nifty on June 27, 2014 (Friday) opened higher and went up, to make a high of 7537 and came down from there. Nifty did actually broke that level of 7490 and made a low of 7482 during the day. Those who would have shorted the Nifty on the basis of my previous blog would have made money.

But Nifty somehow even after breaking below 7490 did not given substantial breakdown, which was expected, and close above 7500. This is a sign of caution for bears. Because now June 27^th (Friday’s) resilience of Nifty of not breaking down comprehensively even after giving breakdown below 7490 enhances the importance of 7480 level.

 It is recommended that from now on do not sell Nifty until and unless that 7480 level is broken i.e. the level of 7490 has now shifted down to 7480 and importance remains the same.

If this 7480 now is not broken comprehensively than Nifty can again try to rebound.

Be cautious and look to sell only and only if 7480 is broken comprehensively that too with tight stop loss of only 40 to 50 points. If this 7480 is not broken than expect a rebound in Nifty & that rebound can be sharp.

Nifty structure requires close below 7480 for fresh breakdown. But sell trade can be taken during intraday below 7480 with small stoploss. Because now this 7480 when breaks cumulative and aggressive selling should come.

Trade accordingly.

 

 

 

 

Dated :- 26. 06. 2014

                                                                      NIFTY SPOT : 7493.2

Hi,

Readers,

See the power of technical analysis again. And also the power of analysis.

It was clearly mentioned in my previous blogs that 7490 is very very important level.

See, the Nifty gave a close at 7493.35 on June 23, 2014 and bounced from there to 7593.

And now today again Nifty came down from there and close at 7493.2.

Clearly given respect to analysis and to 7490 level.

I had been maintaining the view that a comprehensive close of Nifty below 7490, will open doors for correction.

This time the chart structure is such that probability of breakdown of Nifty below 7490 is high.

 If we talk about technical indicators then RSI and Stochastic and some other indicators are showing that breakdown is on the cards.

But remember that this is market and the beauty of it is that, it has the power and habit of throwing surprises.

Trade accordingly.

Readers of this blog would be happy that they got the proper and timely alert on June 09, 2014 when the Nifty was at 7650 i.e. highest. To book complete profits from all of thei long positions. Wherein it was clearly mentioned to book profits from all the long positions in Nifty.

Since then readers would have seen the results, that, Nifty is proving itself that the alert and analysis was accurate and has proved right.

Dated :- 22. 06. 2014

                                                                 NIFTY SPOT : 7511.45

Hi,

Readers,

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

It was mentioned that resistance for Nifty is at 7695-7703 area.

And on downside 7490 level will again be very critical.

Nifty went to 7663 and after taking resistance of 7695-7703 came down from there.

Readers should appreciate that I clearly alerted them in my blog dated June 09, 2014 that all the long positions should be closed. Moreover some might have felt that it was a contra call. See the results of that prediction.

Now What :-

Now Nifty is standing at 7511.45.

If Nifty breaks 7490 comprehensively on closing basis than Nifty may see further correction and the levels for that correction are 7400 and 7330.

However if Nifty somehow does not breaks this 7490 comprehensively then it shall again be locked in a range.

These are times when one should look for only trading & even look for shorting opportunities on comprehensive breakdown of 7490.

We have expiry in this week also. So, expect volatility to be there.

Dated :- 17. 06. 2014

                                                                    NIFTY SPOT : 7631.7

Hi,

Readers,

See the power of technical analysis.

Nifty did exactly the same as was mentioned in my previous blog. Wherein it was clearly mentioned that 7490 is very important & critical level for Nifty. And only & only if Nifty breaks this 7490 comprehensively then only 7420 is possible.

Look Nifty held that level showing the importance of 7490 & made a low of 7487 and rebounded from there to close at 7631.

Now what :-

Now Nifty has next resistance at 7695 – 7703 area. Once it breaks that resistance 7788 will be the next target.

Now on downside again this  7490 level will remain important support. Below which there can be a free fall to 7330.

Enjoy the profits.

Dated :- 14. 06. 2014                                 NIFTY SPOT : 7542.1

Hi,

Readers,

Again like every time before I have predicted the exact level from where Nifty shall start correction.

On June 09, 2014(Monday) itself I had mentioned to close all the long positions & step aside. Blog was updated during the market time at 10:30 a.m.. At that time Nifty was at 7650.

Look Nifty corrected around more than 125 points from there.

I hope reader would have enjoyed the profits. And would have also enjoyed the timely caution that this market is about to correct.

Now What :-

Now 7490 is a critical level. Only if Nifty breaks 7490 comprehensively & stays below 7490 then further downside to 7420 – 7400 can be possible.

Those who are short in Nifty, Part profits should be booked in the short position here and for balance position the trailing stop loss shall be 7680 closing basis. 

Enjoy the profits.

Dated :- 09. 06. 2014                                 NIFTY SPOT : 7649

Hi,

Readers,

At time time 10:29 a.m. Nifty is up more than 60 points.

Book complete profits in all long positions. And step aside.

Enjoy the profits.

Dated :- 08. 06. 2014

                                                               NIFTY SPOT : 7583.4

Hi,

Readers,

Nifty has given a breakout above upper end of the range of 7500.

Now Nifty has support at 7490 & resistance at 7670.

In my previous blog it was mentioned that 7370 and 7330 are very critical levels and break below these levels will make force Nifty to come down further.

Nifty touched 7360 & important point in that was that  Nifty touched this 7360-7370 level only for 5 minutes & gave a strong rebound from there.

This was clear indication that Nifty is taking support at 7370 & is in no mood to go below that. That strong buy signal given by Nifty made Nifty to go up more than 200 points in just two days.

What Now :-

Since the run up is so sharp it is recommended to book good profits here and trail only a small (very small)  long position with trailing stop loss of 7490.

Now Nifty has support at 7490 & resistance at 7670.

Below 7490 Nifty can go to 7400 – 7350 levels. Which will be duly updated on the blog if & as & when it happens.

Till then enjoy the profits.

Dated :- 04. 06. 2014

                                                                     NIFTY SPOT : 7402.25

Hi,

Readers,

In my previous blog dated it was clearly mentioned that 7150-7200 is very strong support area. At that time Nifty was at 7235.

As was mentioned in my previous blog, Nifty took that support and approached towards the upper end of the range at made a high of 7433.

I hope readers would have enjoyed the profits.

Now What :-

Now in Nifty 7470 to 7500 (which is also upper end of the range) is very strong resistance area and Nifty is likely to take this resistance.

On downside break below 7370 support will be first sign that 7470-7500 resistance is holding. And 7330 is very important level, break below 7330 comprehensively will indicate that Nifty wants to go to the lower end of the range. 

Remember the range is 7200 to 7500.

Trade accordingly.

Dated :- 01. 06. 2014

                                                                    NIFTY SPOT : 7229.95

Hi,

Readers,

There was only one trading day in between when I last updated my blog. In that too Nifty was down only 5 points. View on Nifty remains the same as was in my previous blog dated May 29, 2014 (Thursday).