Dated :- 30.01. 2016                                 NIFTY SPOT : 7563.55

Hi,

Readers,

Nifty moved exactly as was mentioned by me in the previous blog dated Jan. 23, 2016.

Nifty stayed within very tight range in all days till Thursday and daily it was testing 7480 an important level mentioned in my previous blog. On Friday  as expected Nifty moved up and once it broke the level of 7480 conclusively it took off and closed at 7563.

Overall Nifty stayed in the range mentioned in my previous blog respecting the levels mentioned in that.

Now What :-

Once Nifty has crossed 7480 comprehensively then the next possible levels for Nifty are 7650 to 7700. In case of run through move to 7700 Do not try find fresh buying possibilities around & above 7700 because that may not be the right time.

Nifty has made morning star pattern on weekly charts which is considered bullish reversal pattern. But, as per me the quality of that morning star pattern is low. Thus, I would not give much importance to that pattern as of now and would give more stress to other patterns and indicators.

On the downside 7400 will remain important support level and till this 7400 is protected for next week Nifty will remain buy on decline i.e. for next 3-4 trading sessions.

Trade accordingly.

 Dated :- 24.01. 2016                                 NIFTY SPOT : 7422.45

Hi,

Readers,

Nifty took support at 7241 ultimately and bounced from there.

Thanks to ECB and thanks to Mario Draghi on his statement of more possible stimulus on ECB’s next meeting. It triggered sharp rebound.

This 7260 around area was very strong level which was likely to be defended but frankly when Nifty was falling like nine pins even 7150 was not ruled out. That was why I wrote in my earlier blog during the market, that, when 7150 is not ruled out then one should not take chances and wait before buying even if Nifty is approaching 7260. As in such kind of fall Nifty has the habit of overshooting the targets. It seldom reverses from the dot targets. Nifty closed at 7276 on Thursday and on Friday Draghi rally moved markets.

Now What :-

The well awaited rebound has come. For the next truncated week Nifty is expected to move in the range between 7240 to 7540. We have expiry also in the coming week with holiday on Tuesday. Within that range 7480 is another important level. Nifty has to give close above this level to show that rebound is sustaining.

In the coming week Nifty is expected to stay in the above mentioned range.

Trade Accordingly.

 Dated :- 20.01. 2016                                 NIFTY SPOT : 7306

Hi,

Readers,

Nifty is heading towards 7260. But the indicators are still not giving clear buy signals.

Thus, to be on a safer side I consider that it is better not to buy & stay out and enjoy the winters.

Better safe than sorry.

 Dated :- 17.01. 2016                                 NIFTY SPOT : 7437.80

Hi,

Readers,

Nifty moved exactly as was mentioned by me in my previous blog dated Jan. 10, 2016.

Wherein it was mentioned that more lower levels in Nifty are coming.

Same happened Nifty kept on falling and made a low of 7425.

It was also mentioned that it is a special pattern and in this pattern Nifty will keep on falling run through and it will not bother for oversold situation. Look, the same happened Nifty did not cared at all of the oversold situation.

It is all GOD’s grace.

I still maintain Nifty continues to be sell on rise and final lows are still pending. May sounds scary but it is the fact.

More music is pending.

If I say in polite and soothing words then 7000 and below level are pending to be achieved in next couple of months.

It was also mentioned that after first few days of fall in the previous week Nifty would want a relief/rebound and the same happened we had fast rebounds of 200 points and 150 points on Wednesday and Thursday respectively in last week. Although both rebounds end up being intraday The indicators wanted relief they got that in the shape of those relief rallies. Previous week’s low was made on Tuesday only i.e. 7425 and when nifty fell again on Friday after rebounds it touched 7427. In any case in run through falling markets rebounds has the habit of lasting for two or two and half days. Nifty did the same in its own style.

Now What :-

Now as I always say “Profit Who HAi jo Ghar Aa Gaya”.

I believe that it is the time that short positions should be closed for once on Monday and step aside (on Monday Nifty is expected to come down). Around 7350 it is ideal level to book full profit but one should not be rigid with a particular level of dot 7350. This 7350 means around 7350, it is an indicative level. On Monday 7350 may or may not come, In any case short position should be closed on Monday.

Although the targets for this move was expected to be 7258. But one should not wait for the exact levels. This market does not always oblidge pin pointed levels.

Although Nifty will stabilize for once at and around levels mentioned above but I do not want to pre decide the level to predict.

One thing which can be done is to look for relief/rebound around 7260 if at all that comes. The timing of the relief/rebound before 7260 comes will be decided during the live markets during the day. I do not want to predict that level in advance because one should not try to do that. Just play as the charts say.

Enjoy the profits.

Trade accordingly.

 Dated :- 10.01. 2016                                 NIFTY SPOT : 7601.35

Hi,

Readers,

Nifty moved exactly as was mentioned by me in my previous blog dated Jan. 03, 2016.

Wherein it was mentioned that Nifty is not fulfilling the condition of crossing 7997 and if it does not cross that level than Nifty will come down to 7800 and even lower levels.

Same happened,

This is all God’s Grace.

Nifty cracked fast and made a low of 7556. Honestly the fall was expected, but not by such furious pace. But, this is markets for you which decides it pace itself.

Now What :-

Now till the time Nifty is below 7830 it is sell on rise. Also there is a gap in Nifty daily chart, gap will stay till Nifty is below 7721. Now, that is also another important level for Nifty.

Although Nifty is oversold, but, in current pattern my analysis is that this current scenario is the exception of oversold situation. That is there are times when one should not give much weightage to the oversold position, current situation is one of that only.

Current fall is standard signature pattern of Nifty fall happened in past also. Indian markets have followed this pattern pin pointed in past also.

Expect lower levels in Nifty and keep selling on rise.

But, Remember that whatever lower levels we are expecting in Nifty should come in this coming week only and then I expect rebound for once or relief rally. Thus it is recommended that short selling should be done only in first few days of the coming week and after that one should not have short position. Because then rebound or relief rally is expected.

Trade accordingly.

 Dated :- 03.01. 2016                                 NIFTY SPOT : 7963.20

Hi,

Readers,

First of all

HAPPY NEW YEAR TO ALL.

May GOD Bless you and fulfill all your Dreams in this year 2016.

Nifty moved within the range as was mentioned by me in my previous blog.

And Nifty is still within that range.

Now What :-

As I have mentioned in my previous blog also that Nifty has to move above 7997 as early as possible for continuing to maintain my bullish stance on Nifty. Failing which Nifty can easily give away 100 – 170 points or even more which will be pain full to traders.

Now the time has come when one should not be complacent. Book most of the profits on Monday, Tighten the stop losses to 7903 for balance position.

The overall view is that for further move up Nifty has to cross and close comprehensively above 7997 within next very few trading sessions. If Nifty does not do that than there are high chances that 7800 or even below levels can be visited again.

In any case I am interested in Nifty long position only for next 2-3 trading sessions. That  too if Nifty crosses and closes above 7997 run through and non stop from here.

If the above does not happen than I would like to book full profit in Nifty and step aside.

Trade Accordingly.