Dated :- 28. 12. 2014

                                                                  NIFTY SPOT : 8200.70

Hi,

Readers,

Kudos.

Nifty moved exactly as was mentioned in my last blog.

Nifty made a low of 8148 and closed at 8200.70.

Now What :-

Book full profit for once and wait for the next move to come.

Enjoy the profits & Keep reading the blog for next move as and when it happens.

Now wait and watch how Nifty will deal with the range of 8100 on the downside and 8300 on upside on immediate basis. Because Nifty seems to be giving respect to support levels. Time will tell. Now wait and see what Nifty does between 8100-8300. 

Dated :- 23. 12. 2014

                                                                  NIFTY SPOT : 8267.00

Hi,

Readers,

Kudos.

Nifty moved exactly as was mentioned in my last blog dated Dec. 21, 2014 pinpoint.

It was clearly mentioned that real test for Nifty’s rebound will be between 8330 to 8380. And this 8330- to 8380 is the level from where Nifty is expected to come down again. It was also mentioned that Nifty is sell on rise.

Last Blog Quotes:-

“Real test of this rebound will be at 8330-8380. Because these may well be the points from where Nifty may come down again.”

Look what Nifty did. It did exactly the same. It made a high of 8364.75 and fell more than 100 points from there to make a low of 8252.85. The fall was relentless and fast.

Now What :

I always say that when ever profit comes so fast one should think to protect it first. Book part profit here and keep the stop loss of cost for balance position and trail the same.

Enjoy the profits.

One point I would like to mention here also is that, with this fall in Nifty follow through is necessary. Balance short positions should be trailed keeping in mind that Nifty should close below 8230 within 2-3 trading sessions from now. If Nifty does not close below 8230 within 2-3 trading sessions from now then one should revisit the charts and think of protecting profits from the balance position also. Because in that case as per the technical parameters Nifty may try to rebound again.  

Dated :- 21. 12. 2014

                                                                   NIFTY SPOT : 8225.2

Hi,

Readers,

First of all Wishing my Elder brother a very “Happy Birth Day” today.

His Birthday is very auspicious day for me, He inspired me to write this blog and whatever I am today, He holds a very big hand in that.

Nifty moved exactly as was mentioned in my previous blog. Wherein it was mentioned that break below support of 8180 even 8000 is possible.

Nifty did exactly that and even made a low of 7961 and rebounded from there immediately.

Now What :-

Nifty is still considered to be an index which is sell on rise.

Nifty has resistance at 8250-8330 and 8380.

Real test of this rebound will be at 8330-8380. Because these may well be the points from where Nifty may come down again.

Also Bank Nifty is standing at important levels and it is the Bank Nifty which will decide the time, levels and future for Nifty.

Further course of Nifty’s move will be decided how Nifty deals with 8330-8380 levels which is major resistance. Whether Nifty will be able to even reach there or not, time will tell. This is the time to wait patiently and let Nifty speak its trade itself. With clarity of thoughts that :

1)   Nifty is sell on rise till now.

2)   Major Resistance at 8330 -8380.

3)   Good resistance at 8250.

4)   Nifty has made morning star reversal pattern on daily charts showing rebound may want to spend a little time here.

5)   Stochastic on daily chart is not favoring sell at present. Wait for stochastic to favor the sell trade.

6)   Bank Nifty is at critical level will decide the next move on Nifty.

    

     Since Nifty is sell on rise, this rebound in Nifty may fizzle out any time abruptly also. May even not test 8330. Time will tell. Nifty has to prove itself and break certain levels to make sure that the uptrend which is still intact is resuming again. Till it happens Nifty is sell on rise index.

Dated :- 14. 12. 2014

                                                                  NIFTY SPOT : 8224.10

Hi,

Readers,

Nifty almost achieved all the target on the down side which were mentioned in my earlier blog dated Dec 09, 2014.

It was mentioned that targets for Nifty can be 8290- 8180. Nifty made a low of 8216.

Nifty had biggest weekly fall after a long time.

Nifty is down more than 400 points from the high of 8627.

Fear has started to come into the minds of traders.

Even World Markets also are falling down as if there is no tomorrow.

Now What :-

Nifty has major support at 8180 levels and if this level is also broken then even level of 8000 can not be ruled out. Time will tell.

Now for the time being Nifty is sell on rise index and every bounce should be used for identifying selling opportunities.

Now 8400-8420 will keep on acting as major resistance area for Nifty and will keep ensuring that till Nifty is below 8420 it is for sure a sell on rise.

As I normally say that, when ever good profit comes so quickly one should grasp it with both hands. Greed is the biggest enemy in this market.

Strategy is to use rebounds to sell to keep risk reward ratio in favour.

Trade accordingly & Enjoy the profits that too god one in just one week.

Dated :- 09. 12. 2014

                                                                 NIFTY SPOT : 8340.70

Hi,

Readers,

KUDOs.

Nifty fell exactly as was predicted by me in my previous blog.

Like many times before this time also the exact time and level of start of correction was predicted and updated on the blog well in advance.

Nifty fell like pack of cards and is now standing at 8340 around 300 points below from the top of 8627. Within this it shed 200 points in just 2 trading days.

Keep booking profits.

Lower targets can be 8290-8180.

But one should also remember when the profit comes so quickly one should grasp it with both hands. Greed is the biggest enemy in this market.

In these kind of falls even small trading rebounds tends to be very sharp.

Now for the time being Nifty has become sell on rise index.

Keep booking the profits and enjoy the profit. 

Dated :- 07. 12. 2014

                                                                        NIFTY SPOT : 8538.30

  

Hi,

Readers,

In my earlier blogs it was mentioned to book complete profits between 8570 to 8630 level and step aside.

In the current week also, even after too much of euphoria Nifty was not able to even cross 8630.

Nifty is being held up to these higher levels by index management. In last 2 days thanks to ITC which contributed a lot to Nifty.

Now What :-

Nifty seems to be losing its momentum and the –ve divergences on Daily & weekly charts seems to be ultimately having its say now.

Looking at Nifty’s charts it seems that Nifty may be getting ready for correction.

For Nifty 8491 is important level and break below that level will force many traders to unwind their long positions.

Another important point I would like to refer here is that if & when Nifty breaks the above level of 8491 watch for ADX also, because many Technical indicators are saying that correction may be around the corner. But this ADX is showing otherwise till now.  Thus if ADX also supports the correction then it further gives confirmation that correction is real.

That correction will give the opportunity to make money by short selling.

On the upside now 8630 will continue to remain major resistance area for Nifty.

Trade accordingly and get ready for correction.