Dated :- 30. 11. 2014

                                                                          NIFTY SPOT : 8588.25

Hi,

Readers,

Nifty moved exactly as was mentioned in my previous blog.

It was mentioned that 8570 – 8630 is the level where complete profits should be booked and step aside. Nifty made a high of 8617 and closed at 8588.

One should not be too much greedy.

Although Bank Nifty and PSU banks have given fresh breakouts on the chart but even then booking complete profits and stepping aside is safe and better strategy.

Wait and watch Nifty from the sidelines. Let the euphoria to settle down and wait for the next clear movement of Nifty which will be updated as & when it happens.

Enjoy the profits.

Dated :- 23. 11. 2014

                                                                    NIFTY SPOT : 8477.35

Hi,

Readers,

Nifty moved exactly as was mentioned by me in my previous blog.

It was clearly mentioned that till Nifty is holding 8320 only trade available in the ring for Nifty is to search for long side trades.

Nifty on Friday Nov. 21, 2014 broke the range with a bang and moved above 8470. Justifying the analysis that till Nifty is above 8320 look for only long trades.

Now What :-

Now Nifty has moved out of the range and closed above 8470. The trailing stop losses for Nifty should be raised to 8406 level closing basis.

Next resistance level for Nifty will be 8570- 8630. And these are the levels where one should book profits & step aside. I believe that in this market one should not be greedy and “Profit woh hai Jo ghar aa gaya”.

On the other side if Nifty some how, in any case, comes down and closes below 8406 then book full profit from all long positions and step aside. Then, that will be the time for reviewing the chart of Nifty for any possibility of even short selling Nifty. Time will tell.

We have expiry also in next week thus expect volatility.

Volatility index is standing at lowest level for long time now & expect volatility to increase in coming days.  

Dated :- 16. 11. 2014

                                                                         NIFTY SPOT : 8389.9

Hi,

Readers,

Nifty is still stuck in a small range. It tried to move out of this range but again went into the range.

Now what :-

Nifty is with the range of 8320 to 8408.

Breakout on either side will give trading opportunity.

Nifty is trading with bullish bias till it is holding 8320. Nifty is also making flag like pattern on daily chart. If Nifty breaks out on up side then Nifty should not take too much time to cross 8450-8470 if this breakout is real. However if even after breaking the range on the up side Nifty takes time to cross 8450-8470 then one should be cautious. Because then Red Flags should be raised about the strength of the breakout.

Till Nifty is holding 8320 only trade available in the ring for Nifty is to search for long side trades.

On the other hand if Nifty breaks below 8320 then it will mean that Nifty is taking resistance of 8430 is getting ready for correction.

Dated :- 11. 11. 2014

                                                                         NIFTY SPOT : 8362.65

Hi,

Readers,

Nifty is moving in a very small range of around 50 points for the last 5 days. Therefore justifying the decision of staying out as a right decision. It is these kind of grinding days which tests the patience of analysts & traders.

Current move of Nifty is indicating that intermediate top is nearby. It is just the matter of time & level where Nifty actually makes that top.

Another interesting & logical point I would like to mention here is that, when majority of participants wait for Nifty to move further 100 to 200 points where they will feel comfortable to short sell Nifty saying that risk reward ratio is good. Question is logical that, in that case, whether Nifty actually goes to that level or not? Time will tell whether it goes there or not or even surpasses it. If it listens to the general consensus then probability of even surpassing it and running further becomes more to surprise the consensus.

On the upside Nifty has resistance at 8390 - 8430 – 8470 – 8540.

On the downside Nifty has support at 8285 – 8240 – 8180.

Nifty chart is indicating that small grinding movement time may be getting over at least for the time being. In next two days it is expected to take a small move on one side. Initially expect that move to be around 100 points one side.

On the upside I had already mentioned the levels above. And on down side 8285 level is very important level. Because below that level many long positions will get be squared off.

Dated :- 09. 11. 2014                                 NIFTY SPOT : 8337.00

Hi,

Readers,

Nifty is virtually standing at the same level. On Nov. 02, 2014(date of my previous blog) it was at 8322 now today is it at 8337.

In my previous blog it was mentioned to book complete profits from all long positions and step aside. And “Jab DO Hathi Lad rahe ho to side mein reh kar dekna he achha.”

Today when Nifty is at 8337 the view is same. Till the time Nifty is not getting out of its euphoria heat, watch Nifty movement only by sitting on sidelines and wait for Nifty to give right and clear signals.

Dated :- 02. 11. 2014

                                                                    NIFTY SPOT : 8322.2

Hi,

Readers,

Nifty moved up as mentioned in my previous blog, that, this up move of Nifty may prove to be good one. Rather this move proved to be blasting one. Nifty is running rather flying up very fast.

Let me also accept that I expected & mentioned in the blog for Nifty to go up, but, I did not expected it to go up so fast. Also the last possible targets were expected to be 8150 - 8250. But Nifty was in a hurry to reach and break all the targets and even move higher and closed at 8322.2.

This may be a combination of euphoria & short covering.

Now What :-

Nifty is in euphoria mood. It is better to book complete profits from all long positions here and step aside. There is no point taking fresh long positions here even if Nifty may move few more points further. There is no harm missing some points of further move(may or may not be) when the risk is high.

Let the market complete this euphoria and have breather that will be the time to take fresh position. When the risk reward ratio is not favorable there is no point taking any trade.

“Jab DO Hathi Lad rahe ho to side mein reh kar dekna he achha.”

Some of my specifical analysis are indicating that this may be near to the top formation move for Nifty. Whether it is actually making top or not. Time will tell.

Better wait & step aside then to have an accident.