Dated :- 31.07. 2016                                 NIFTY SPOT : 8638.50

Nifty is moving in narrow band.

The view is still the same.

And there is no need to change the view as of now.

Keep holding the short position with the stop loss of 8787 on closing basis.

As and when Nifty closes below 8480 trail the stop loss of 8676 closing basis as final stop loss.

Trade Accordingly.

Note :- All Levels are Nifty spot levels always.

 Dated :- 24.07. 2016                                 NIFTY SPOT : 8541.20

Nifty moved on expected lines in previous week.

It went down to 8476 (i.e. below 8480) and then again to 8496 but did not closed below 8480.

Nifty is giving opportunity to book part profits around 8480 and resell it again at higher levels.

Now What :-

The view is still the same.

I expect Nifty to move towards lower levels in coming days.

Keep holding the short position with the stop loss of 8787 on closing basis.

As and when Nifty closes below 8480 trail the stop loss of 8676 closing basis as final stop loss.

Trade Accordingly.

Note :- All Levels are Nifty spot levels always.

 Dated :- 17.07. 2016                                 NIFTY SPOT : 8541.40

As mentioned in my previous blog dated July 14, 2016 that I will be looking for selling possibilities, Nifty gave the selling opportunity by giving a rise till 8594 on Friday(July 15, 2016).

Now What :-

I expect Nifty to come to lower levels in coming days.

The actual stop loss is 8676 closing basis. But to avoid the volatility I would like to keep the stop loss at 8787 closing basis and wait for Nifty to come down.

As and when Nifty closes below 8480 book 1/3rd part of profits and keep the stop loss of 8676closing basis as final stop loss for the balance 2/3 of the position.  In that case the stop loss will become either free or very small i.e. negligible one.

    

Enjoy the trade.

Note :- All Levels are Nifty spot levels always.

 Dated :- 14.07. 2016                                 NIFTY SPOT : 8519.50

Today Nifty made a high of 8550 and closed at 8519.

Till now we have been waiting for the trading opportunity to come.

I have been mentioning that I will not be buying now and wait patiently for the sell opportunity to come.

Now I believe that intermediate top is not far away.

Now, I will look for selling opportunities because my charts are indicating that Nifty is preparing itself for lower levels.    

Hence, no point carrying any long positions.

It may be very surprising for readers because generally people on the street are highly bullish.

But I am writing, what charts are giving indication of.

Readers please note that whatever I am writing as on today is on the basis of the charts as on today.

However, Major macro news events both Global and Domestic and the passage of GST and appointment of new RBI Governor which Market may take positively as far as cutting rate are concerned and Very Important results which are about to come in 2 - 3 days of Index heavyweights can force us to change our view. But standing as of now the view is mentioned above. We will review it if and when the need be.

Date and time of updating the blog 14-07-2016 at 08.41 a.m.

 Dated :- 10.07. 2016                                 NIFTY SPOT : 8323.20

Kudos again,

Nifty closed this week  almost at the same level of the last week. Last week it was closed at 8328 and this week it has closed at 8323.

Nothing kind of the week it was. Nifty moved in a small range in all days of the week.

That was why I mentioned in my previous blog that wait and watch the movement of Nifty for the week.

Now What :-

Now in the coming week still there is no clarity on the charts.

For the coming week I would like to caution the readers that I still do not want to buy Nifty other that for intraday trades.

Below 8280 there is a probability of a sell trade and lower levels of 8200 and 8150 and further lower are possible.

Wait for the clarity to come this week.

Note :- All levels are Nifty spot levels.

 Dated :- 03.07. 2016                                 NIFTY SPOT : 8328.35

Kudos again,

Nifty managed to settle the expiry at 8287 and closed the week at 8328.35.

Now since Nifty has closed above 8313 which was our trailing stop loss for the balance of the short positions created before BREXIT at and around 8230 - 8250  levels. I hope readers would have closed there short positions by now i.e. on Friday.

Readers should remember that in my previous blog I mentioned that Nifty is sell on rise till it gives two days close above 8313. However short positions should be trailed with the trailing stop loss of one day close above 8313 closing basis. Now Nifty has closed above 8313. Readers would be sitting on sidelines.

Readers should now wait for the price action on Monday. If Nifty closes below 8313 on Monday and Monday itself then they can short Nifty again with the stop loss of the high it has made on Monday or again close above 8313 which ever is earlier.

Means Stop loss is high of Monday on intraday basis or  close above 8313 again whichever is earlier.

This trade will be only on the premise that the condition of two days close above 8313 is not fulfilled. In that case sell on rise is still on.

See, this strategy will be initiated only at closing time on Monday or during the day if it seems that Nifty is expected to close below 8313.

This trade is only on the premise that if the condition of two days close is not fulfilling then let us again have the short positions on. Let the market move the way it wants to move. Let it happen on its own.

If it closes above 8313 again on Monday then just step aside and watch Nifty movement this week.

Another important point I would like to share is that in the last five days Nifty has moved slowly and steadily on one side i.e. up. It has not given any roaring and big up move on any of the five days, it was just 40-60 points types move daily. Means in technical terms no big body candle was made.

Now, the charts are indicating that in next 2-3 days there are high chances of  around 100 or more than 100  points move on either side in a single day. Get ready for that.

I believe that there are high chances of it coming on Monday or Tuesday itself.

Thus Mondays open and close will automatically become very important for technical terms.

Now wait for the next course of action and watch the Nifty's movement for this week carefully.