Dated :- 29.05. 2016                                 NIFTY SPOT : 8156.65

Hi,

Readers,

Kudos again.

Nifty moved exactly as was mentioned by me in my previous blog dated May 22, 2016.

It was clearly mentioned that around 7670 + - few points Nifty can give sharp and surprise rebound. And in the week Nifty will give good handsome move on one side. This week will prove to be important for Indian and Global markets.

Same happened Nifty made a low of 7715 and moved up fast and sharply.

It posted a sharp & sharp move on the upside.

Frankly sharp move could come it was expected. But the actual move was so fast and furious, it was even beyond the expectation.

This is the power of technical analysis.

It is all GOD's grace.

Now What :-

Now the charts are becoming very interesting. The move on the upside from 6800 till now is virtually the mirror image of the fall that happened. Means the way Nifty came down from 8300 to 6800 it is rising in the same manner ditto mirror image from 6800 till now.

Bulls would try their hard and core hard to cross 8338 in the coming week because, if they succeed in that they would feel they have crossed the milestone.

Because while coming down we took exactly 16 weeks from 8300 to make a low of 6800 and the coming week is 16th week of the rise we are having from 6800 to till now. Thus to some extent this is important week as far as crossing or not crossing 8338 is concerned. If by chance say it is crossed in 17th week then it will loose significance.

But remember it is not easy also. Because 61.8% retracement of the fall from 9119 to 6825 is coming at 8243 and 66.67% retracement is coming at 8354.

Thus this 8250 to 8350 will automatically become the level where Nifty will face stiff resistance and will decide the further course of action. It will definitely trade choppy here and will give opportunity to make money both by selling also and by buying also.

Expect Nifty to face resistance around that level.

Nifty has given bullish breakout of inverted Head & Shoulder pattern above 8003. Generally People would be very excited with this pattern breakout, as its targets are 9200. But for me this breakout is not important and I am ignoring this breakout because the location of this pattern is not conducive and due to some other reasons also. Thus Nifty will have to make new pattern which I will consider as and if that happens. I am ignoring this Inverted Head & Shoulder pattern breakout for now.

Now I expect choppy and zigzag and volatile move in Nifty from here on, in next week.

Trade accordingly.

 Note :- All levels mentioned are Nifty spot always.

 Dated :- 22.05. 2016                                 NIFTY SPOT : 7749.70

Hi,

Readers,

Nifty moved exactly as was mentioned by me in my previous blog dated May 15, 2016.

It was mentioned that the earlier breakdown last week seemed to be false one and in the absence of follow through on Monday (May 16 2016) Nifty will bounce.

Same happened Nifty bounced back and made a high of 7940.

Now What :-

Now, Nifty has again given breakdown. And in this breakdown 7880 on the upside and 7670-7650 on the down side will be important levels to watch.

This week is going to be important week for our markets. And also for global markets.

Frankly I would like to watch the movement of Nifty around 7670 plus minus few points. Because this level can force a sharp and surprise rebound also. Although, it is not confirm on charts that, whether that rebound will come or not, that is why, I am saying that I would like to watch Nifty movement around that level.

Another important thing is that in coming week I am expecting full body candle either Green or Red. Means in this week I am expecting reasonable move on one either side.

In the current week we have expiry also. And we have introduction of new weekly options contract of Bank Nifty from May 27, 2016.

Trade accordingly.

  

Note :- All levels mentioned are Nifty spot always.

 Dated :- 15.05. 2016                                 NIFTY SPOT : 7814.90

Hi,

Readers,

Kudos again,

Nifty fell exactly as was mentioned by me in my previous blog dated May 12, 2016. Nifty fell as expected and made a low of 7784 and closed at 7814.

Hope readers would have enjoyed the fall.

Now What :-

Now, Nifty should break and close below 7780 within next two days preferable on Monday itself. Means follow through should come immediately otherwise close the short positions and step aside. Low risk traders may not wait till tuesday, they can look for follow through on the down side on Monday itself.

Why I am saying that without follow through move on the downside close the short positions for once. Because, I have an observation about Friday's fall. The fall which was expected to come did come, but, it was the fall of just 6 minutes. We had two bought's of fall, each of 3 minutes and each of around 40-45 points. Means the complete fall of Friday came in just 6 minutes rest of the day it was only sideways. No doubt volume was high in those 6 minutes.

This says that one should be vigil and in the absence of follow through on the downside in next day or two. One may think of booking full profits in short positions and leave these 60-70 points till 7750. Because those can be tricky in the absence of follow through on downside  immediately.

In that case look for selling again below 7750. Because below 7750 Nifty is in a sell zone.

Trail the stop loss to 7897 Nifty spot closing basis.

Enjoy Trading.

Note :- All levels mentioned are Nifty spot always.

 Dated :- 12.05. 2016                                 NIFTY SPOT : 7900.40

Hi,

Readers,

Kudos again,

Nifty moved exactly as was mentioned by me in my previous blog dated May 08, 2016.  When Nifty was at 7733 it was mentioned I will be a buyer in Nifty.

Same happened, Nifty moved up and made a high of 7916 today in just four days and closed at 7900.40.

Readers would have enjoyed the profits.

Now What :-

Now the time has come to book full profits from Nifty long position and close them for once.

Now it is only close above 7953 when I will think of taking long position in Nifty again.

Rather till Nifty is below 7953 I will look for selling opportunities in Nifty for lower levels.

Enjoy the profits and enjoy trading.

Note :- All levels mentioned are Nifty spot always.

 Dated :- 08.05. 2016                                 NIFTY SPOT : 7733.45

Hi,

Readers,

Nifty moved exactly as was predicted in my previous blog dated May 02, 2016.

Wherein, it was mentioned to hold the balance short positions created at 7870 Nifty spot with the very tight stop loss of 7902.

Nifty made a low of 7678 and closed the week at 7733.45.

By the Grace of Almighty and your blessings, Like always before this time also the starting point of correction was accurately predicted in advance on the blog.

Readers would have enjoyed the profits.

Now What :-

Book full profits & close all the short positions in Nifty.

Nifty's movement when it was coming down was slow and it has taken the support of 7650 at 7678 twice which can lead to rebound from here.

Now for at least next two days, I would like to look for buying possibilities.

Strategy is to book full profits from short positions. Because I always say "Profit Woh Hai Jo Gha Aa Gaya".

For at least  next two trading sessions, till 7650 is protected on closing basis I would like to look for buying, wherever possible for a trading bounce from here.

Enjoy the profits.

Note :- All levels mentioned are Nifty spot always.

 Dated :- 02.05. 2016                                 NIFTY SPOT : 7805.90

Hi,

Readers,

Kudos again,

Nifty fell today also as predicted and as was mentioned in my previous blog.

Nifty today made a low of 7777.30 has closed at 7805.

Now this is the time to book part profit and trail the balance position with a small trailing stop loss of 7902 closing basis Nifty spot.

Enjoy the profits.

Date 01-05-2016                                                Nifty Spot 7849.80

Hi,

Readers

Nifty moved exactly as was mentioned in my previous blog line to line.

Now Nifty has given the breakdown as predicted in my previous blog.

Nifty made a low of 7788 after breaking 7870.

Keep holding the short position with the stop loss of 7930 Nifty spot.

Enjoy the profits.