Dated :- 25.10. 2015

                                                                         NIFTY SPOT : 8295.45

Hi,

Readers,

Kudos again.

Nifty moved as mentioned in my previous blog. Nifty is moving up slowly and steadily.

Nifty almost hit the first target of 8338 by making a high of 8328 on Friday(Oct 23, 2015).

Now What :-

One should not be greedy. Now the time has come to book profit and step aside.

As I always say that “Profit Voh HAi Jo Ghar Aa Gaya”.

Greed is the biggest enemy in this market.

I believe that Tomorrow i.e. Monday Oct. 26, 2015 it may be the right time to book full profits and step aside. When to book full profit on Monday whether at open or later will depend on Nifty movement on Monday itself. It is expected that even better levels will be available for booking full profits on Monday.

My analysis is saying that 8400 to 8665 should act as major resistance area for Nifty.

Enjoy the profits. 

Dated :- 20.10. 2015

                                                                NIFTY SPOT : 8261.65

Hi,

Readers,

Nifty is moving as expected and today it has taken a small intraday dip upto 8229 also and then rebounded from there again to close at 8261.

Keep holding the balance part of long position with the trailing stop loss of 8118 closing basis. The next possible targets are 8338 and 8394.

Enjoy the profit.

Dated :- 18.10. 2015

                                                                  NIFTY SPOT : 8238.15

Hi,

Readers,

Kudos again.

View on Nifty was precise and accurate. It was clearly mentioned to use buy on dips approach till 7980 holds. It was also mentioned that 8050 and 7980 are major supports.

Nifty did exactly the same it made a low of 8088 giving an opportunity to buy and moved up from there and made a high of 8246 on Friday.

Nifty charts and indicators were showing strength and were clearly saying that till 7980 holds it wants to go up for the mean time.

When most of the traders were suspicious of Nifty strength and thinking that Nifty is tired and fatigued, readers of the blog would have been confident of buying and would be enjoying the up move.

Now What :-

Book part profit here and Keep holding the long position with the trailing stop loss of 8118 closing basis. The next possible targets are 8338 and 8394.

Immediately Nifty is not expected to close below 8118 on the lower side but, in case, it happens then book full profit and step aside.

Enjoy the profit.

Dated :- 11.10. 2015

                                                                     NIFTY SPOT : 8189.70

Hi,

Readers,

Nifty moved up exactly as was anticipated in my previous blog.

It was expected to touch 8200 till 7880 is protected. And Nifty crossed 8200 and made a high of 8232 to close at 8189. We expected Full body Candle this week and it actually made it. It was also mentioned that Nifty charts is showing strength.

But frankly I would like to mention here that it was also mentioned that Nifty charts are showing very good strength but my special indicators are not showing that level of strength. Normally those indicators either lead the strength or they go with the strength. But this time they were lagging in there move with the strength. Thus I mentioned in my previous blog that although Nifty chart is showing strength but I would like to wait for my indicators to get at par with strength with Nifty. In last 4 trading sessions Nifty is virtually standing in small range is the indicator that Nifty allowed time for those indicators to come at par with Nifty.

Now What :-

Now since Nifty has achieved one target of 8200 the next possible targets can be 8338 and 8394. Keep the trailing Stop loss for the long positions at 8103.

If Nifty goes run through to 8338 or above that level then close long positions and step aside. Because at that time Nifty would be in deeply overbought  zones  in smaller time frame charts. Which can cause sudden correction in Nifty.

On the down side 8050 and 7980 are still very good supports.

Since Nifty is in contraction zone for last 4 trading sessions expect expansion move of more than 100 points possibly in next 2-3 trading sessions. The doji formation by Nifty yesterday is also justifying expansion move.

What if Nifty does not go run through to around 8338 around levels and corrects from here. In that case till 7980 is protected on closing basis, Nifty will be considered to be buy on dips. This 7980 is very important support. This support level has risen from 7880 to 7980 now.

People or Traders may have forgotten two important patterns which Nifty is making. Those are :-

1)   The old Bearish Head & Shoulder pattern on weekly charts is still not nullified till now. Only one week close above it is not enough, it requires more efforts. It is still not nullified either in monthly charts.

2)   Nifty is also making a possible flag pattern on weekly and monthly charts, the breakout of it will be above 8520 around levels closing basis on weekly and monthly. It is very less likely for Nifty to give run through breakout of that pattern immediately. Till now we are not giving much importance to this pattern as of now but just keeping it as information. Because before giving breakout of this pattern it will have to nullify the bearish Head & Shoulder pattern first.

Trade accordingly.

The result season has also started and it can have its own impact on Nifty.

Dated :- 04.10. 2015

                                                                      NIFTY SPOT : 7950.90

Hi,

Readers,

Nifty moved up exactly as was mentioned by me in my previous blog dated Sept 27, 2015.

It was clearly mentioned in last paragraph that While spending time in the range if at all Nifty comes back to test around 7620 levels again. And then it makes some pattern and starts moving up then that move up can be given more weightage.

Nifty almost did the same it made a low of 7690 and bounced from there. It would have even went further down to touch 7620 but 50 basis point Rate cut +ve surprise by RBI helped it to move up and recover from 7690.

The analysis of Momentum indicators was also pin pointed perfect. They were not ready to go up immediately thus the down move of more than 170 points from 7870 to 7690 was first happened and after that Nifty went up. However if Nifty would have touched 7620 then the comfort level from the rebound would have been much more. But mere 70 points miss from 7620 does not mean that move is false. Nifty is moving as analyzed in my previous blog.

Now What :-

After a long time, As on today the charts are not giving clarity of the next move. Nifty is showing strength but the level of strength it showing is not present in indicators.

Chances are good that Nifty may break 8060 on the up side for once. But if so, then what next ?

After a long time the charts are not clear for the next move from here. Charts are showing that till 7880 is protected on the downside Nifty may well be getting ready to touch 8200. But some of my important indicators have still not turned positive. Since they have not turned till now, this becomes the time to wait for clarity.

I want to see the movement of Nifty for next couple of days to get more clarity.

Looks like that the next week can be full body candle week on either way. Let us see.