Dated :- 27.03. 2016                                 NIFTY SPOT : 7716.50

Hi,

Readers,

Nifty moved as expected and as was mentioned in my previous blog.

Wherein it was mentioned latest by Monday or 7680 level which ever is earlier I would not be a buyer. Nifty made a high of 7700+ on Monday and after that in next two days daily it showed intraday corrections.

Now What :-

View is more or less the same as was mentioned in my previous blog. The only small difference is that the resistance area has shifted on the up side by 15-20 points (Previously 7608to 7823 now 7661 to 7842). Which is a minor variation and given also.

I still believe that I would not be a buyer in Nifty. As per my analysis correction should be near by. Thus, I would like that correction to come first or let my charts give buy signal.

I am again repeating my lines from previous blog : Overall in few days time I still maintain that on my charts 7661 to 7842 is expected to act as major resistance area and major tussle area. That area will be the real test of this movement of Nifty. Till that area is not taken out decisively on closing basis I do not expect Nifty to stand up.

Frankly I want Nifty to take resistance in my this resistance area and start correction to 7427 or below levels. That would be the ideal situation for Nifty.

Trade Accordingly.

Dated :- 20.03. 2016                                 NIFTY SPOT : 7604.35

Hi,

Readers,

Nifty moved in a small range in most part of the last week.

It is still moving in the contraction zone and on Friday it tried to move out of the zone and managed to close at 7604. This boring range bound movement of Nifty has further reduced the range to 7480 to 7613.

Next week is truncated week also & only first 3 days are working.

Even if Nifty tries to breakout of the range on the up side one should be cautious as this breakout is in resistance area (mentioned in my previous blog and again mentioned in last paragraph of this blog also)with long holidays after that.

Chartically Nifty’s current setup does not provide any opportunity of carrying positions home before long long week end (Neither long nor short positions).

And I am not interested in taking fresh long position around 7680 type levels or after tommorrow whichever is earlier because of the reasons mentioned above. Nifty is currently standing at 7604.

Thus, This is the time to enjoy the holidays and stay out. And to play only on Intraday basis.

Overall in few days time I still maintain that on my charts 7608 to 7823 is expected to act as major resistance area and major tussle area. That area will be the real test of this movement of Nifty. Till that area is not taken out comprehensively I do not expect Nifty to stand up.

Frankly I want Nifty to take resistance in my this resistance area and start correction to 7427 or below levels. That would be the ideal situation for Nifty.

Enjoy the holidays.

 Dated :- 13.03. 2016                                 NIFTY SPOT : 7510.20

Hi,

Readers,

Nifty moved exactly as was expected. It was mentioned in my previous blog dated March 07, 2016 when Nifty was at 7485 that let the Nifty settle down after mammoth rally. Nifty moved in small range of just 125 points between 7424 to 7540 throughout the last week and stayed there only.

Now What :-

Nifty is in a contraction zone/range of say 7400 to 7550.

This contraction is going to be end soon and in coming days we can expect around 150-200 points move either side from current levels of 7510. Obviously move above or below the contraction range is required for that.

Overall I still maintain that on my charts 7608 to 7823 is expected to act as major resistance area and major tussle area. That area will be the real test of this movement of Nifty. Till that area is not taken out comprehensively I do not expect Nifty to stand up. In the coming week if in case Nifty enters deep into this resistance zone mentioned above one can also look for shorting possibilities.

Trade accordingly.

 Dated :- 07.03. 2016                                 NIFTY SPOT : 7485.35

Hi,

Readers,

HAPPY MAHASHIVRATRI.

Kudos again.

Nifty moved exactly as was mentioned by me in my previous blog dated Feb. 28, 2016.

Wherein it was clearly mentioned that be a buyer till Nifty is closing above 6960 and 7412 is expected. On Feb. 28 Nifty was at 7029.

Same happened. Nifty even moved much ahead of target and made a high of 7505 on Friday.

The analysis was bang on!!.

This is the power of technical analysis.

It is all GOD’s grace.

Now What :-

Now when the target is exceeded and Nifty made a high of 7505 that too very quickly.

It is prudent to book full profits and step aside.

Profit who hai jo ghar a gaya.

Now wait for Nifty to settle down after its mammoth rally.

Till than enjoy the profits.

On my charts 7608 to 7823 is expected to act as major resistance area and major tussle area. That area will be the real test of this movement of Nifty. Till that area is not taken out comprehensively I do not expect Nifty to stand up.

Enjoy the profits.