Dated :- 31.10. 2016                                 NIFTY SPOT : 8629.20

Hi readers,

My warm wishes to all.

Hope everyone would have enjoyed DIWALI  and I pray to GOD that

MAA LAXMI should shower all her blessings on all of us.

I could not give you DIWALI wishes yesterday as I am out of town and will be reaching back in few days.

View on Nifty is still the same.

Nifty has started showing more weakness and now the strategy for coming week  should be that look for selling possibilities till Nifty is below 8742  and the targets for the downside would be 8470 to 8435. And at or around those targets book full profits and step aside. Obviously volatility would also be high there.

This 8742 has become crucial level and stiff resistance.

In the coming week I expect good body candle on weekly charts.

Thus till Nifty is below 8742 look for selling possibilities and above that expect Nifty to be in a range again. In that case the range will be 8850 to 8640.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

 Dated :- 23.10. 2016                                 NIFTY SPOT : 8693.05

Hi readers,

Nifty is trying to settle down from the rebound and closed at 8693.

Now for the next week, Nifty is expected to be in a range. Range is expected to be between 8600 to 8827.

Now the first good support comes at 8630 and the second major support is at 8580.

On the upside resistance lies at 8780 and 8827.

Range bound and volatile move is expected in coming week from Nifty. Where Nifty is expected to give up and down days.

Nifty is stuck between 20 DMA at 8652 and 50 DMA at 8709.

Expect volatile moves in Nifty.

Try to trade less in this week because the volatility and up and down moves will kill the profits. Rather enjoy the DIWALI FESTIVAL. Some times trading less or no trading is a profitable approach. One should not be a compulsive trader.

Enjoy the festival season.

 Dated :- 18.10. 2016                                 NIFTY SPOT : 8677.90

Hi readers,

Kudos again.

Here is the rebound.

And here is the special indicator at work.

Nifty rebounded sharply and everybody is surprised but it was predicted in advance in my previous blog dated Oct. 16, 2016 day before yesterday.

Rebound was on its way and the writing was on the wall.

It was clearly mentioned that Nifty is making such a pattern that below 8532 It should fall sharply within minutes without wasting any time run through. If it does not happen then my special indicator is placed in such a way that it will force Nifty to rebound. It was also mentioned that if Nifty does not fall quickly and sharply below 8532 then exit the short positions immediately because in that case Nifty will rebound.

Nifty did broke 8532 on Monday at around 12.00 noon and spent too much time below that and even closed below 8532 at 8520. It was clear cut indication that Nifty is not fulfilling the conditions of fall since Nifty did not fell sharply below 8532 and spent more than half day below 8532. It was taking too much time which my special indicator will not tolerate and Nifty was forced to rebound. Rebound was inevitable.

It is all God's Grace.

This is the power of technical analysis.

Readers were able to book full profits from there short positions when Nifty was at the lowest level  and were able to enjoy the rebound by making most of it.

Pin point analysis.

Now do not forget to book full profits quickly in this rebound and step aside and wait for this rebound to settle down and enjoy KARVA CHAUTH tommorrow.

Enjoy the profits.

 Dated :- 16.10. 2016                                 NIFTY SPOT : 8583.40

Hi readers,

Nifty came down in last week as expected. I have been writing constantly in my blog that Nifty has made such a pattern that it will come down because it has made an intermediate top.

Now What -

Now Nifty is on the verge of breaking bearish head and shoulder pattern on daily charts. Close below 8540 will confirm the breakdown of that bearish head and shoulder pattern.

On the upside 8730 will continue to act as very stiff resistance.

At present the pattern Nifty is making, the fall should have been sharp and severe. Since the fall is slow the Readers should note that the coming week is going to be important week for short term traders. Because one of my special indicator is placed at such a location which happens in case of breakdown and that too full and sharp breakdown but Nifty is coming down slowly.

Now Nifty should either in next few days fall sharply run through and give breakdown of the bearish head and shoulder pattern and match that indicator or otherwise my special indicator will force Nifty to give a trading rebound.

I am not at all sounding bullish. I am only saying that my indicator has gone to such a location and waiting for breakdown to happen now either breakdown should come fast or else it will force trading bounce which will again be a selling opportunity.

The strategy is to look for fresh selling possibilities if Nifty stays below 8532  for some time expecting sharp fall with the small stop loss of close above 8600. If the sharp fall does not come below 8532 then in that case also exit the short position without waiting for stop loss level. Because in that case Nifty may rebound that will be a selling opportunity again.

Crux is to sell again when Nifty stays below 8532 for some time for a run through fall or otherwise wait and watch Nifty's movement because in that case Nifty can bounce also and that bounce will be a selling opportunity.

Trade accordingly.

   

 Dated :- 10.10. 2016                                 NIFTY SPOT : 8697.60

Hi readers,

I was out of town thus could not write the blog yesterday. just reached back today.

Thus writing the blog during the market today.

Nifty is not falling as expected and the readers are sitting in profits.

Thus it is better to book full profits here and step aside and enjoy the festivals.

Happy DUSSEHRA.

Blog is written today. i.e Monday at 9.44 a.m.

 Dated :- 02.10. 2016                                 NIFTY SPOT : 8611.15

First of all

"HAPPY NAVRATRAS TO ALL"

May "Godess Durga" shower her blessings on everyone of us.

KUDOS again, Nifty fell exactly as was mentioned by me in my previous blog. Nifty hit all the targets for the week on the lower side.

The level of 8781 which was mentioned by me in my previous blog dated Sept. 25, 2016 acted as the magical level and when Nifty went below 8781 it never looked back and it kept on falling. It was clearly mentioned in my previous blog that 8781 will act as trend decider and if Nifty goes below it then go short. Same happened.

It was also mentioned that Do not expect this expiry week to be dull one, rather expect this expiry week to be action packed week. See how action packed the week was.

This is the power of technical analysis.

It is all God's Grace.

Readers would have enjoyed the fall in Nifty and profits.

Now What :-

As I always say that Profit Woh hai jo Ghar Aa gaya.

Book part profits here at least 2/3rd of the quantity profits should be booked here.

And keep the balance short position open with the wild stop loss of 8950 closing basis.

Even with this stop loss the trade will end up in profits as readers would be booking around or more than 200 points profits in 2/3rd part so the balance 1/3 part can be kept open with the stop loss of around 170 points from cost. And since the Oct. expiry had 40 points premium thus the effective stop loss shall be of 130 points only from the cost for the balance 1/3 rd quantity. Short positions has the benefits of roll over premium.

Why we want to trail 1/3rd part of the position in spite of the fact that handsome profits are there. Because the pattern Nifty is making is signaling that the level of 8968 which Nifty has touched in its current move might prove to be the top for the present upmove. Also   :-

          1. The trade will still be in profits even if by chance Nifty close 

              above 8950. And we can exit even earlier also if Nifty starts 

              showing any major upside strength.

         

          2. The structure Nifty and Mid cap Index and some other charts

              has made are important structures and patterns together

             with the combination of various indicators. And we want to 

             play those bearish structures and if they continue they will

             open the downside further.

Because the pattern Nifty and some other indexes has made are good bearish pattern. Till the time Nifty does not nullify those patterns and structures, we would expect that downside in Nifty will remain open and it will be vulnerable to downside risks. 

The pattern gets violated at 8894 closing basis. But after adjusting it with other corresponding levels of some other charts, indicators and safety factor the stop loss level of 8950 closing basis comes to be the best stop loss to trail Nifty for downside. Stop loss may seems to be long from here but from the cost it is virtually 130 points and it is for only 1/3rd quantity and after the RBI policy we will think of trailing it down to a smaller one.

Also do remember that we have RBI policy on Oct. 4, 2016 where the rate cut hopes are high. Thus the volatility also justifies to book 2/3rd profits and trail the balance 1/3rd part with the above mentioned stop loss.

Another observation I would like to share with readers that Nifty has taken support at 8555 which is very important support level. It is the conjunction point of support from 3 channels all are around 8560 level. Where 3 channels combine that becomes important level together with the fact that 8520 to 8550 was previous important support. Thus for once Nifty respecting these levels is very much justified. Real test will be when Nifty breaks it 2nd time and closes below 8550.

Enjoy the profits and trade accordingly.

  

Note :- All Levels are Nifty spot levels always.

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