Dated :- 26. 10. 2014

                                                                      NIFTY SPOT : 8014.55

Hi,

Readers,

Nifty moved as expected and almost hit all the upper targets mentioned in my earlier blogs. Nifty mad a high of 8031 on DIWALI day almost near to the target of 8050.

NOW What :-

Nifty’s this up move was expected and is good one. The level of 7830 was mentioned by me in my blog dated Oct. 19, 2014, that, till Nifty is above 7830 Nifty will have upward strength.

Charts and indicators are indicating that this move may prove to be good one if it devotes some more time here and holds 7830. Time will tell. But one point which is very important here is that in this move of Nifty from 7730 to 8014 body in candles are virtually missing and Nifty is moving up in gaps only. This is not a good signal. This shows that either this rebound may be weak and force Nifty to fill some of the gaps it has created in last 3-4 trading sessions. OR Nifty will again want to become range bound and want to spend some time in a range and play choppy and volatile. Ideally filling of some of the gaps it has created in last 3-4 trading sessions but not all is healthy for Nifty. If Nifty fills all the gaps and goes below 7830 then the strength in Nifty will vanish again.

Since we have expiry also in this week therefore choppy and volatile moves in Nifty may be expected.

Resistance for Nifty is at 8080-8160.

Support levels are 7940-7880-7830.

Dated :- 21. 10. 2014

                                                                      NIFTY SPOT : 7927.75

Hi,

Readers,

Nifty is trading above 7830. Which is a pivot point for Nifty as mentioned in my previous blog. It was mentioned that above 7830 expect rebound in Nifty and Nifty is doing the same.

Now What :-

Full profits should be booked from all the positional short positions.

Rather as mentioned in my previous blog that 7830 is very important level. Now Nifty will be inclined to go up till it is above 7830 for target of 7960- 8000 and 8050. Nifty has made a gap at 7820 – 7856, now till the time this gap is not filled on closing basis i.e. till Nifty did not close below that 7830 level Nifty will have upward bias.

Since we have Muhurat trading on DIWALI and holiday on Friday. Therefore the readers who had made even small long positions for very short term above 7830 on Monday – Tuesday should also book complete profits tomorrow.

Recommendation is to book complete profits tomorrow and enjoy DIWALI.

Dated :- 19. 10. 2014

                                                                   NIFTY SPOT : 7779.70

Hi,

Readers,

First of all HAPPY DIWALI to all of you.

May Goddess LAXMI shower all her blessings on all of you.

Nifty has stayed below 7800. Bank Nifty is breaking out on the charts. Coming week is also truncated week, wherein we have only first 3 days working and Mahurat trading on Oct. 23 (DIWALI).

Expect volatile and choppy moves.

As far as Nifty’s movement is concerned view is same as was in my previous blog i.e.

Nifty has given breakdown of bearish head & shoulder pattern on hourly charts. With breakdown below 7812. Thus for very short term i.e. for first three trading days of coming week consider 7830 to be pivot point. i.e. expect small rebound above 7830 because in that case it will be called failed Bearish Head & Shoulder pattern rebound.

And every time when ever Nifty comes below 7830 again & again consider that Bearish Head & Shoulder pattern is still on and pushing itself to be effective.

Overall various technical parameters are indicating that logical targets for Nifty on the downside are 7690, 7580 and 7460. These logical target levels are also support levels for Nifty, wherein 7460 is major support for Nifty.

On upside as mentioned in my previous blog also 7960 is very stiff resistance. And now 7893 will act as intermittent resistance.

Trade Accordingly.

Dated :- 16. 10. 2014                                 NIFTY SPOT : 7737.70

Hi,

Readers,

Like always before Nifty’s analysis is “Bang on Target” again.

It was clearly mentioned in my previous blog dated Oct. 12, 2014 that Ideally Nifty should break 7800 within 2-3 trading sessions. And look, today, i.e. on 3^rd trading session after my blog Nifty broke that 7800 level (yesterday Oct. 15, markets were closed). This 7800 level was broken like pack of cards and Nifty made a low of 7729 and closed at 7737. It was always on the cards and was signaling to be coming. I had been mentioning in my earlier blogs that this Nifty is inclined to come down.

Various technical parameters are indicating that logical targets for Nifty on the downside are 7690, 7580 and 7460. These logical target levels are also support levels for Nifty, wherein 7460 is major support for Nifty.

On upside as mentioned in my previous blog also 7960 is very stiff resistance. And now 7893 will act as intermittent resistance.

Trade accordingly and Enjoy the profits.

Dated :- 12. 10. 2014

                                                                    NIFTY SPOT : 7859.95

Hi,

Readers,

As mentioned earlier in my earlier blog dated Oct 08, 2014 that Nifty will be trading very volatile. Nifty remained choppy, up 120 points one day and down 100 points next day.

It was mentioned in my previous blog that if Nifty again closes below 7930, that will be the first indication that Nifty’s 120 point up move on Oct 09, 2014 was merely a short covering and it is not getting any follow through. And in that case more downside will open in Nifty.

Nifty closed below 7930, thus indicating that it has more downside till the time it is below 7960. That was the time to create short positions again. For downside to open, the ideal situation is that Nifty should breach 7800 level within next 2-3 trading sessions. If Nifty do not breach 7800 within next 2- 3 trading sessions then short positions should be closed and step aside.  

Because in that case, Nifty will be in a range of 7800 to 7960. Breakout on either side will again give trading opportunities.

On the other hand if Nifty manages to close above 7960 again, that will indicate that 7800 level is holding once again and Nifty is inclined to go higher. In that case even long positions would be justified for high risk traders.

It is expected that we may have another truncated week with elections in Maharashtra on Wednesday, it may be a holiday on Wednesday (depending upon the authorities). Next week will be news heavy, inflation numbers and opinion polls numbers will have their impact on markets. 

Dated :- 09. 10. 2014

                                                                   NIFTY SPOT : 7960.55

Hi,

Readers,

Since Nifty has closed above 7945. Even high risk traders book complete profits and step aside. And wait for next trade to come.

Now Nifty has resistance at 8020 and then 8050. Support is at 7880 which is also the level of gap which Nifty has made today.

Readers should also keep watch of 7930 level again. Any close below 7930 again will be first indicator that today’s short covering rally is not getting any follow through and more downside may be possible. Time will tell.

From tomorrow we are entering into result season also thus expect volatile moves.

Dated :- 08. 10. 2014                                 NIFTY SPOT : 7842.70

Hi,

Readers,

Nifty moved exactly as was mentioned in my yesterday’s blog. Today Nifty took the support of 7800. Nifty made a low of 7815 today and closed at 7842. See, major supports has the tendency that they normally hold for at least first time. 

Now Nifty movement is expected to be choppy. In coming days, as they say “butterfly in stomach” time is coming.

Thus it is recommended that only high risk traders who can handle the volatility should hold the balance of the short positions with the recommended trailing stop loss of 7945 closing basis. Other traders can book complete profits and step aside.

Support of Nifty is at 7800. If 7800 breaks then 7700 and 7580 are the logical targets. Nifty is also making bearish head & shoulder pattern on hourly charts.

Enjoy the profits and trade accordingly.

Dated :- 07. 10. 2014

                                                                NIFTY SPOT : 7855.45

Hi,

Readers,

This festival season has again brought sweets, flowers and blessings of GOD in the form of fall in Nifty. Which was accurately predicted well in advance on this blog.

It was clearly mentioned in my yesterday’s blog that Nifty should come down in next two days and if it does not come down then book complete profits. Nifty rewarded the analysis again.

Nifty fell further more than 100 points today and closed at 7855 after making a low of 7842.

 Now What :- 

Book more profits here. And for balance of short position further trail down the stop loss to 7945 closing basis.

See, when Nifty broke 7930 comprehensively today it never looked back and gradually kept on falling. This was the importance of 7930. I had been mentioning the importance of this 7930 level in my previous blogs.

Readers of this blog had the opportunity to short sell Nifty when it was highest. It is all God’s grace.

Enjoy the profits and trail the balance short position accordingly.

Next immediate support is at 7800.

Dated :- 06. 10. 2014                                 NIFTY SPOT : 7945.55

Hi,

Readers,

Nifty has moved in a small range. Last week was a truncated week and we had only 3 working days before 5 continuous holidays. Traders may well be in a holiday mood. But even then Nifty did not showed much strength and who so ever used sell on rise strategy made money.

Readers must be remembering that I mentioned the importance of 7930 in my previous blog. See, the importance of charts and importance of important levels. In all the 3 trading days in last week after my blog Nifty took support at 7930 (Monday low 7934, Tuesday low 7923, Wednesday low 7936).

Interestingly Nifty did not give a close below 7930 on any single day. Remember it was mentioned that close below 7930 short positions are safe. And till Nifty is closing above 7930 one should be alert and keep the trailing stop loss of 8050 for remaining short position.

Now What:-

Nifty gave a bearish breakdown of double top pattern and standing there. See, double top breakdown after a sustained rally is a bearish breakdown. Effect of it is, that, if it is real breakdown then it forces Nifty to come down. And if does not come down then it is a sign of utmost caution for those who are short in Nifty.

Now the charts are showing that if Nifty does not come down in next two trading days then it is prudent to book full profits in balance of short position in Nifty and step aside. Because in that case Nifty may force a sharp rebound fueled with short covering. There is an old saying that Good Warrior and Good player always understand which side the wind is blowing and which side it is expected to blow. (Hawa ka rukh)

Same applies to a trader wind is trend and chart analysis, when the wind is saying that Nifty should have come down and Nifty is refusing to come down then it means that some force is holding Nifty here.

Wait for maximum two more days if Nifty does not start coming down and does not close at least below 7930, then book complete profits and step aside. In that case Nifty may even take sharp rebound. Once Nifty closes below 7930 further trail the stop loss to 8010 closing basis.