Dated :- 14.02. 2016                                 NIFTY SPOT : 6980.95

Hi,

Readers,

Kudos again.

As mentioned by me in my blog dated Jan. 17, 2016 that below 7000 levels in Nifty are going to come in couple of months. Here are the Quotes of my that blog:

“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.”

This is all GOD’s Grace.

Nifty came below 7000 level and made allow of 6869 that too fast and furiously.

Now there is complete blood on the street. Traders are scared and portfolios are butchered. It is pity but hard fact.

Nifty will go below 7000 was certain on my charts, But let me be very frank also, that, Nifty will achieve those targets so fast and in such a furious fashion even I did not anticipated that. This is market for you, It fulfills the analysis and reaches the destination, but decides its own way/road to reach there. Nifty fell almost 650 points in a single week. Just imagine the intensity of the fall.

The pessimism or weakness was so severe that Nifty was not able to cross even 7541 on the upside which was very very critical level for rebound to sustain. And remember that it was also the level below which Nifty gave fresh breakdown. Well known saying in technical analysis “Changing of polarities Support points becomes resistances and vice versa”.

As soon as Nifty broke the lower end of the range mentioned in my previous blog dated Feb 07, 2016 at 7320 fall became more furious and non stop.

This is the power of technical analysis that it gives you clear insight that which side of the trade one should be.

Now What :-

Now although Nifty short term charts have become deeply oversold and this 6800 to 6860 levels are also very important levels. They can provide support to Nifty for once.

But can we say that Nifty has made a bottom at 6869 and will reverse.

Well on my charts as on today there is no such indication and I still consider Nifty to be sell on rise. May Sound scary to readers but I can not do anything charts are still saying that only. And further lower levels in Nifty are not ruled out. Well sell on rise means that only.

I believe in my charts and till the time they do not give me signal of reversal Nifty will remain sell on rise for me.

After such a massive fall rebounds keep on coming. Keep playing those for very small profits and let the market settle down.

Trade accordingly and from now till Budget try to trade less. Because now volatility is likely to increase.