Dated :- 29.12. 2016                                 NIFTY SPOT : 8048

Hi readers,

Kudos again.

Nifty rebounded as expected.

it has taken a significant resistance at 8100.

Now at 8048 spot at 9.45 a.m.

book full profits from all longs and step aside.

Next trend will emerge in coming days after fresh confirmations.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 25.12. 2016                                 NIFTY SPOT : 7985.75

Hi readers,

First of all Marry Christmas to all.

Kudos again.

Nifty moved exactly as was expected and mentioned by me in my previous blog dated Dec 17, 2016.

Wherein it was mentioned that I am expecting move in Nifty on one side and it is Bank Nifty magic no. of 18484 which will give us pre hand information that which side Nifty is going to move.

Bank Nifty never even touched 18484 and remained below 18484 all the time in whole week. Giving the readers clear indication that Nifty is going to come down and breakdown will be on the downside.

In these scenarios when Bank Nifty guided the way there was clear short trade in Nifty even before 8050 breakdown. Even if, readers waited for the breakdown level below 8050 in Nifty they would have been able to short Nifty on Thursday morning.

Nifty gave the reward and made a low of 7942 and closed at 7985.

Giving profits to readers.

Now What -

Now book full profits from all the short positions and step aside.

From now onwards for the next few days at least I would not like to short Nifty and whatever it is good for I will look for buying possibilities where ever possible.

My target was around 7880 to 7900 in Nifty on the downside and Nifty has touched 7942.

I am not interested in playing further downside for next few days from here, Because for me 7880 is very important point and it is conjunction of few indicators also.

Charts are giving indications that Nifty may not have too much downside from here. Rather to phrase it differently Nifty is giving indications that downside in Nifty from here may be limited.

Also, 8053 in Nifty spot is coming to be very important and crucial level. This 8053 is also the confluence point of many indicators and the perfect trailing stop loss for short positions holder. In other words above 8053 shorts will start running to cover their short positions.

Thus above 8053 Nifty, it will be the first indication that Nifty is willing to rebound from here in coming days.

Till now from 8800 in Nifty we were recommending the readers to short Nifty continuously. But now onwards my charts are giving me indications that in the present technical setup fresh shorting from here may be risky affair. Thus refrain from shorting and watch Nifty movement. And if rebound starts coming then try to play that. Do not predict the point of rebound, let Nifty decide its level and let it cross 8053.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 17.12. 2016                                 NIFTY SPOT : 8139.45

Hi readers,

Nifty has moved in the small range in the whole week. Between 8230 to 8121.

Our decision to book full profits and step aside and wait for fed decision was proved to be good.

Dull markets are always best avoided.

Now What -

Now Nifty contraction period is about to become over.

I expect Nifty to take a move on either side in coming week.

For that Bank Nifty is the coming week will give a good pre hand indication that which side the contracting market is expanding.

I believe that for the coming week 18484 is very important for Bank Nifty below and above that, the direction can be assumed and expected.

And for Nifty the range is 8050 to 8230. Breakout or breakdown of this range on either side will mean that the next move of further 100 to 150 points will easily come.

I will be willing to play that range breakout on either side.

Stop loss of the range breakout is

Nifty spot 8108 closing basis on downside breakdown.

And 8178 closing basis on upside breakout.

Together with keeping in mind the bank Nifty important level mentioned above.   

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 11.12. 2016                                 NIFTY SPOT : 8261.75

Hi readers,

Nifty moved exactly as was mentioned in my previous blog dated Dec 04, 2016.

It was mentioned that Nifty has strong support at 7950 to 8000 and Bank Nifty at 18100 and key for the current week is held by Bank Nifty. If Bank Nifty does not fall further  and rather takes support and starts moving up we are willing buyer in both Nifty and Bank Nifty both.

Same happened in spite of all the bad news from all fronts Bank Nifty took support at 18100 on RBI policy day and started moving up.

I hope readers would have benefitted from the blog as they would have been able to buy.

Now What ;-

Remember that Nifty is still not out of the woods.

Do not stay or welcome more on this rally.

Book profits from long positions in both Nifty and Bank Nifty and step aside.

WHY I am saying to book profits and step aside.

Because

If we want to trail the long positions then the trailing stop los is coming at 8053 closing basis. It is wide enough around more than 200 point from current levels.

We do not want to keep such a large trailing stop loss. 

However, we wanted to book full profits around 8340. But simultaneously also we do not wanted to carry our long positions after Monday.  

Thus tomorrow book full profits and step aside.

We FOMC meeting in US also in coming week. Keep an eye on that also.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 04.12. 2016                                 NIFTY SPOT : 8086.80

Hi readers,

Nifty moved exactly as was mentioned in my previous blog dated Nov 27, 2016.

It was mentioned that I would like to play contra near the trading range level of 8000 to 8280.

Nifty first made a low of 8066 giving a buying opportunity and rebounded from there and after that made a high of 8250 giving selling opportunity and fell from there again and made a low of 8070. Thus Playing contra helped.

Readers would have liked the movement of Nifty and would have benefitted.

Now What -

Nifty has closed at 8086.

Now the level of 8188 closing basis will act as resistance for Nifty.

Till then expect Nifty to trade with -ve bias.

However, I would like to see Nifty's behavior on lower side around 7950 to 7980 levels. Because for me 7950 to 7980 around levels are important levels. Which has all the ingredients to act as important support.

This coming week is action packed week.

We have RBI Credit policy also and ITALY Referendum results in the start of the week.

Thus try not to carry any positions home in initial part of the week.

Now let us understand the Nifty outlook and expectations.

Actually problem area is Bank Nifty.

It has closed at 18247 and is showing weakness.

Key level for Bank Nifty is 18100 spot. Continuous close below this level will open gates for lower levels.

If Nifty take support around 7950 to 8000 levels and Bank Nifty around 18100 spot levels and starts rebounding from there and with the tail wind of positive or neutral news from ITALY and +ve news from RBI Policy with market. I would not hesitate in buying early also and will not wait for 8188 level to break. The stop loss in that case would be 7950 closing basis.

Point is, that, key for the coming week is with Bank Nifty as its ADX has reached 30.79 and RSI at 38. And key level at 18100. And at present it is showing weakness. If it negates its weakness and does not fall, rather starts taking support and starts rising then we do not have any problem in buying Bank Nifty and Nifty both.

Do not run for the trade, wait, watch and analyse the movement and then step in.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 27.11. 2016                                 NIFTY SPOT : 8114.30

Hi readers,

As expected Nifty is rebounding and taking support at 7900 level.

Nifty had become oversold at around 7900 levels. Readers would remember that in my previous blog dated Nov. 20, 2016 when Nifty was falling, it was clearly mentioned that at and around 7900 Nifty will become oversold and can rebound from there.

Now What ;-

Now in the coming week Nifty is expected to trade in the range bound manner. Range between 8000 to 8280.

The movement in the coming week is expected to be up and down days movement.

In the coming week I will look for contra trades possibilities where I will like to look for buying possibilities on dips for next 2- 3 days and will look for selling possibilities on rise from here in next 1-2 days for small profits and step aside. Keeping in mind the trading range mentioned above.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 21.11. 2016                                 NIFTY SPOT : 7929.10

Hi readers,

Kudos again.

Nifty has made a low of 7916 today.

Nifty has almost hit the target on the downside.

As I had mentioned in my yesterday's blog that book full profits below or around 7900 and step aside.

It was also mentioned that Bank Nifty will lead the fall. Look at the market today the fall was lead by Bank Nifty. Bank Nifty fell today as if there is no tomorrow.

Book full profits and step aside and enjoy the profits.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 20.11. 2016                                 NIFTY SPOT : 8074.10

Hi readers,

Nifty has again hit the targets for the week. It has made a low of 8048 and closed at 8074 on Friday. It was clearly mentioned in my previous blog that the targets for the week for Nifty are 8000 to 8100. Nifty has met that.

I also mentioned that keep an eye on ADX and 20 DMA.

ADX slope has moved up to 36.62 and Nifty is staying below 20DMA. Both are indicating that down trend is at its best.

I hope readers would have enjoyed the profits.

Now what ;-

Well the targets for Nifty are below 7900.

Till now not even a single day there was any threat to short positions and Nifty continuously kept on coming down and the short positions were always safe and secure.

One should keep in mind that Now in coming days time may come which may confuse or threat the short position holders.

Overall analysis is, that, I expect Nifty to come down further and that, down move is expected to be lead by Bank Nifty.

Thus book partial profits here and trail the balance short position with the tightest possible stop loss of 8140 Nifty spot on intraday basis for the lower targets of below or around 7900. Where one should book full profits and close the position and step aside.

Because at that point Nifty will reach the oversold area and from there rebound will not be ruled out.

The best case scenario is that Nifty should break this 2-3 days consolidation on downside again and crack the level of 8000 run through. For this best case scenario to play out Nifty should not even cross 8140.

Thus readers can look to play this best can scenario and trail balance the short positions with trailing stop loss of 8140 intraday basis.

If Nifty breaks 8140 in coming week then it is expected to be in the range bound move. The coming week is also expiry week thus play accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

 Dated :- 14.11. 2016                                 NIFTY SPOT : 8296.30

Hi readers,

Last week was very eventful and very volatile.

I hope readers would have enjoyed it.

Because this kind of volatility can be played only by profession traders and other's just loose money in that.

Events were of big magnitude from Demonetization of currency in INDIA to the TRUMP's win in U.S. and thus the movement and volatility was also big.

Now What ;-

Now after the big moves Nifty may take a breather for a day or two in coming week. Nifty will ultimately try to test again 8000 to 8100 types levels. It is expected to do so by gradually coming down in zig zag manner.

Use the rallies to sell till the Nifty is below 8550 for the lower targets of 8100 to 8000.

Keep an eye on the 20 DMA and ADX on daily charts. Nifty is below 20 DMA and slope of ADX has reached to the level of 28 now.

DO not try to be bullish on markets till the time charts do not support that bullishness.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

 Dated :- 06.11. 2016                                 NIFTY SPOT : 8433.75

Hi readers,

Here is the big candle as was mentioned by me in my previous blog on last Sunday.

That I was expecting big red candle and when we expect it to come down the big red candle is here. The candle is of around 250 points in Nifty. It is a good fall in one week.

Nifty has hit all the targets.

This is the power of technical analysis.

It is all GOD'S grace.

Now what -

Now we have the U.S. elections in coming week.

Thus it is better to be at the sidelines and wait the election results.

Strategy is to stay on the sidelines and watch the U.S. election results.

Because it is expected that U.S. elections may keep the markets highly volatile. And we do not want our profits to be eaten up by abrupt volatility.

Keep reading the blog for the move in Nifty as and when it happens.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

 Dated :- 03.11. 2016                                 NIFTY SPOT : 8484.95

Hi readers,

Kudos again.

Here are the technical's at work.

Nifty exactly hit the target today.

Our target was 8470. Nifty made a low of 8476 today.

Bang on.

This is the power of technical analysis.

It is all GOD's grace.

As mentioned in my previous blog dated Oct. 31, 2016 when the targets are met book full profits and step aside.

I hope readers would have booked full profits today.

Enjoy the profits.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

 Dated :- 31.10. 2016                                 NIFTY SPOT : 8629.20

Hi readers,

My warm wishes to all.

Hope everyone would have enjoyed DIWALI  and I pray to GOD that

MAA LAXMI should shower all her blessings on all of us.

I could not give you DIWALI wishes yesterday as I am out of town and will be reaching back in few days.

View on Nifty is still the same.

Nifty has started showing more weakness and now the strategy for coming week  should be that look for selling possibilities till Nifty is below 8742  and the targets for the downside would be 8470 to 8435. And at or around those targets book full profits and step aside. Obviously volatility would also be high there.

This 8742 has become crucial level and stiff resistance.

In the coming week I expect good body candle on weekly charts.

Thus till Nifty is below 8742 look for selling possibilities and above that expect Nifty to be in a range again. In that case the range will be 8850 to 8640.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.