Dated :- 29.12. 2016                                 NIFTY SPOT : 8048

Hi readers,

Kudos again.

Nifty rebounded as expected.

it has taken a significant resistance at 8100.

Now at 8048 spot at 9.45 a.m.

book full profits from all longs and step aside.

Next trend will emerge in coming days after fresh confirmations.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 25.12. 2016                                 NIFTY SPOT : 7985.75

Hi readers,

First of all Marry Christmas to all.

Kudos again.

Nifty moved exactly as was expected and mentioned by me in my previous blog dated Dec 17, 2016.

Wherein it was mentioned that I am expecting move in Nifty on one side and it is Bank Nifty magic no. of 18484 which will give us pre hand information that which side Nifty is going to move.

Bank Nifty never even touched 18484 and remained below 18484 all the time in whole week. Giving the readers clear indication that Nifty is going to come down and breakdown will be on the downside.

In these scenarios when Bank Nifty guided the way there was clear short trade in Nifty even before 8050 breakdown. Even if, readers waited for the breakdown level below 8050 in Nifty they would have been able to short Nifty on Thursday morning.

Nifty gave the reward and made a low of 7942 and closed at 7985.

Giving profits to readers.

Now What -

Now book full profits from all the short positions and step aside.

From now onwards for the next few days at least I would not like to short Nifty and whatever it is good for I will look for buying possibilities where ever possible.

My target was around 7880 to 7900 in Nifty on the downside and Nifty has touched 7942.

I am not interested in playing further downside for next few days from here, Because for me 7880 is very important point and it is conjunction of few indicators also.

Charts are giving indications that Nifty may not have too much downside from here. Rather to phrase it differently Nifty is giving indications that downside in Nifty from here may be limited.

Also, 8053 in Nifty spot is coming to be very important and crucial level. This 8053 is also the confluence point of many indicators and the perfect trailing stop loss for short positions holder. In other words above 8053 shorts will start running to cover their short positions.

Thus above 8053 Nifty, it will be the first indication that Nifty is willing to rebound from here in coming days.

Till now from 8800 in Nifty we were recommending the readers to short Nifty continuously. But now onwards my charts are giving me indications that in the present technical setup fresh shorting from here may be risky affair. Thus refrain from shorting and watch Nifty movement. And if rebound starts coming then try to play that. Do not predict the point of rebound, let Nifty decide its level and let it cross 8053.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 17.12. 2016                                 NIFTY SPOT : 8139.45

Hi readers,

Nifty has moved in the small range in the whole week. Between 8230 to 8121.

Our decision to book full profits and step aside and wait for fed decision was proved to be good.

Dull markets are always best avoided.

Now What -

Now Nifty contraction period is about to become over.

I expect Nifty to take a move on either side in coming week.

For that Bank Nifty is the coming week will give a good pre hand indication that which side the contracting market is expanding.

I believe that for the coming week 18484 is very important for Bank Nifty below and above that, the direction can be assumed and expected.

And for Nifty the range is 8050 to 8230. Breakout or breakdown of this range on either side will mean that the next move of further 100 to 150 points will easily come.

I will be willing to play that range breakout on either side.

Stop loss of the range breakout is

Nifty spot 8108 closing basis on downside breakdown.

And 8178 closing basis on upside breakout.

Together with keeping in mind the bank Nifty important level mentioned above.   

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 11.12. 2016                                 NIFTY SPOT : 8261.75

Hi readers,

Nifty moved exactly as was mentioned in my previous blog dated Dec 04, 2016.

It was mentioned that Nifty has strong support at 7950 to 8000 and Bank Nifty at 18100 and key for the current week is held by Bank Nifty. If Bank Nifty does not fall further  and rather takes support and starts moving up we are willing buyer in both Nifty and Bank Nifty both.

Same happened in spite of all the bad news from all fronts Bank Nifty took support at 18100 on RBI policy day and started moving up.

I hope readers would have benefitted from the blog as they would have been able to buy.

Now What ;-

Remember that Nifty is still not out of the woods.

Do not stay or welcome more on this rally.

Book profits from long positions in both Nifty and Bank Nifty and step aside.

WHY I am saying to book profits and step aside.

Because

If we want to trail the long positions then the trailing stop los is coming at 8053 closing basis. It is wide enough around more than 200 point from current levels.

We do not want to keep such a large trailing stop loss. 

However, we wanted to book full profits around 8340. But simultaneously also we do not wanted to carry our long positions after Monday.  

Thus tomorrow book full profits and step aside.

We FOMC meeting in US also in coming week. Keep an eye on that also.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 04.12. 2016                                 NIFTY SPOT : 8086.80

Hi readers,

Nifty moved exactly as was mentioned in my previous blog dated Nov 27, 2016.

It was mentioned that I would like to play contra near the trading range level of 8000 to 8280.

Nifty first made a low of 8066 giving a buying opportunity and rebounded from there and after that made a high of 8250 giving selling opportunity and fell from there again and made a low of 8070. Thus Playing contra helped.

Readers would have liked the movement of Nifty and would have benefitted.

Now What -

Nifty has closed at 8086.

Now the level of 8188 closing basis will act as resistance for Nifty.

Till then expect Nifty to trade with -ve bias.

However, I would like to see Nifty's behavior on lower side around 7950 to 7980 levels. Because for me 7950 to 7980 around levels are important levels. Which has all the ingredients to act as important support.

This coming week is action packed week.

We have RBI Credit policy also and ITALY Referendum results in the start of the week.

Thus try not to carry any positions home in initial part of the week.

Now let us understand the Nifty outlook and expectations.

Actually problem area is Bank Nifty.

It has closed at 18247 and is showing weakness.

Key level for Bank Nifty is 18100 spot. Continuous close below this level will open gates for lower levels.

If Nifty take support around 7950 to 8000 levels and Bank Nifty around 18100 spot levels and starts rebounding from there and with the tail wind of positive or neutral news from ITALY and +ve news from RBI Policy with market. I would not hesitate in buying early also and will not wait for 8188 level to break. The stop loss in that case would be 7950 closing basis.

Point is, that, key for the coming week is with Bank Nifty as its ADX has reached 30.79 and RSI at 38. And key level at 18100. And at present it is showing weakness. If it negates its weakness and does not fall, rather starts taking support and starts rising then we do not have any problem in buying Bank Nifty and Nifty both.

Do not run for the trade, wait, watch and analyse the movement and then step in.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.