Dated :- 26.02. 2017                                 NIFTY SPOT : 8939.50

Hi readers,

Nifty has moved up in the last week and made a high of 8982 and closed at 8939.50

In spite of the fact that Nifty is stretched on smaller and daily charts still it is moving up. This is a sigh of strength.

Nifty has gone up in previous week and the readers of the blog would be sitting on the side lines as we were not interested to play the upside in previous week as it was supposed to be risky.

That was why I had mentioned in my previous blog that sell only on the sign of weakness. That sign never came in the previous week. The sign of weakness wass below 8780 only. Today when we are standing at 8939 that level of 8780 is far away. Thus as on today Nifty seems to be crawling up slowly.

Now What -

Frankly speaking the coming week is dicey and important one.

Because the kind of set up Nifty is having now, it is important to see, that, whether Nifty closes above 8903 on Tuesday or not.

In the coming week I will look for buying possibilities till Nifty is above 8880 with the stop loss of 8856.

And in the coming week I will like to take each day as a fresh day. Means I would like to close the position on the same day.

 Because in the coming week many levels are coming and becoming important. As till it is above 8880 try to buy. Also I want to see that whether Nifty is closing above 8903 on Tuesday or not etc. etc.

I believe that the coming week should be volatile and important. Nifty is showing strength that too when it is stretched. It is a rare phenomenon.

Thus take each day as a fresh day.

Because below 8880 smaller time frame charts can also force Nifty to give correction as it is stretched.

In Nut shell, till Nifty is above 8880 in the coming week look only for buying possibilities for small profits and close the position same day. And below 8880 look for small selling possibilities and close the position on same day.

After Tuesday if Nifty give close slightly above 8903 say upto 8920 around level and then after that goes below 8880 then in that scenario when readers will be looking for small selling possibility then they can hold that sell position with the stop loss of 8920. Provided that the day it goes below 8880 after Tuesday it should also close below 8850 on the same day.

Difficult week to trade into, but to be on the right side remember the level of 8880 as a trend decider level for Nifty till Nifty is above it do not try to sell and below 8880 refrain from buying.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 19.02. 2017                                 NIFTY SPOT : 8821.70

Hi readers,

Nifty has moved exactly as was mentioned in my previous blog dated Feb. 12, 2017.

It was clearly mentioned that professional traders can even look to buy Nifty on the lower end of the range of 8715 to 8820. Nifty went down to the lower end of the range and made a low of 8713 and then went up. It was also mentioned that the kind of pattern Nifty is in, it has the tendency to cross the previous high and move higher.

Thus readers were given the level of 8908 which was possible and Nifty made the high of 8896 almost hitting the target.

Readers would have enjoyed the surprise up move in Nifty as it was on expected lines for us as we had the upper target of 8908 for the last week.

Now what -

Readers would be remembering that we were interested to buy till Nifty is above 8715  in the previous week and Nifty obliged us, as the pattern  usually makes new high greater than previous week's high and the same happened.

Now in the coming week I will avoid to buy Nifty.

As the pattern as on today together with indicators does not give much confidence to buy for coming week. Even if Nifty wants to move up from here it had to do time correction and stay here and consolidate.

I will leave any further upside for coming week rather will be look for selling possibilities below 8780 and wait for confirmation below 8740.

If Nifty adds some points more further from here on the upside then I will stay on the side lines and wait patiently for my levels to come.

Nifty has again made long doji pattern on weekly charts.

Now in the coming week below 8780 will be the first sign that Nifty might shed further 100 to 150 points. Although the confirmation for that will come below 8740. Below 8780 keep looking for selling possibilities in Nifty with the stop loss of 8863 closing basis. I will keep using this strategy again and again.

I would like to mention here also that this week is an expiry week also thus Nifty can be volatile also and if it goes below 8780 in first two days then readers should be ready that due to volatility smart money may not allow Nifty to go below 8740 immediately and then try to cross 8863 to surprise traders. Thus keep the quantity in control.

The way to overcome this volatility is that either take the trade and let the stop loss hit and again take the trade below 8780 and again wait for confirmation below 8740 within 3-4 hours of the trade OR take the trade below 8740 only.

Professional traders can keep on looking at the level of 8780 as important level for coming week and keep looking for selling possibilities below 8780 again and again with the stop loss of 8863.

Remember that the confirmation for sell trade is below 8740 but to take the first mover advantage I have given the level of 8780 being first sign of weakness.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 12.02. 2017                                 NIFTY SPOT : 8793.55

Hi readers,

Nifty has moved in the previous week as expected.

It made a high of 8814 by Tuesday and after that in rest of the week it traded with the -ve bias and ultimately it closed at 8793.55.

During the week it gave two boughts of correction of 100 points on Tuesday and Wednesday and made a low of 8715.

In the last week Nifty was not expected to go up and it did that only.

It was also mentioned that Nifty will be in sell mode if it goes below 8698. But it respected the level of 8698 as it took support twice at 8715 and 8724.

Reader would have been benefitted as they would not have been feared by the sharp correcting moves on intraday basis as they were expected to come.

Now What -

Now in the current week since Nifty has saved itself in the last week it has made Doji pattern on the weekly charts.

And in spite of the fact that on the daily charts it is stretched but still this kind of patterns has the tendency to cross the recent highs, which is 8822, it has made and thus Nifty hitting 8908 around level is not ruled out.

And now for Nifty to come down sell will only be triggered only below 8715 with the stop loss of 8840.

In this week till Nifty is above 8715 it will give both the opportunities to buy and sell because now 8908 on the up side is not ruled out, it may or may not come.

In nut shell sell Nifty below 8715 for lower targets with stop loss of 8840. Also remember that the day it goes below 8715 it has to close below 8698 also otherwise the sell is not triggered. Else till it is above 8780 the probability of 8908 is not ruled out.

Professional traders can play on both sides in Nifty as the range for them will be 8823 to 8715. They can even look for Buying on the lower side of the range for small profits.

Trade accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.

Dated :- 05.02. 2017                                 NIFTY SPOT : 8740.95

Hi readers,

Nifty has moved up on expected lines and it has given respect to the Island reversal pattern mentioned in my previous blog, as it took support at 8537 near to the Island reversal pattern on budget day. Readers would be remembering that Island reversal pattern is on till Nifty is closing above 8480. Actually the pattern is placed with the gap between 8480 and 8494. Thus Nifty taking support of the pattern on budget day is heartening and important.

Now What -

Now Nifty is still looking good.

But I would like to caution here also as now it is the time to be on your toes.

The kind of pattern Nifty is in we want to have run through move in Nifty. Without any pause and not much downside.

The beauty of this kind of pattern is that Nifty very rarely makes two big red candles. Means consecutive back to back two down days are not made by Nifty normally, and thus, At any point of time we get the signal that it is about to make two down days on closing basis exit the long positions and step aside.

Therefore, one thing is, that, 8650 on the down side is going to be very important support on closing basis.

As I mentioned above that I would like to be cautious also here is that I am interested in playing further up move in Nifty for next two days only that too if it goes up run through without going down. As the charts are getting stretched which means that we should be on our toes. Correction in Nifty is also near by.

Now the all important point is what to do.

Keep in mind the level of 8698 till then Nifty is above it look for buying.

Also the comfort zone of buying is above 8752.

As any up move has to be run through means if Nifty moves above 8752 it has to move fast up towards 8840.

If it is not moving fast up and goes below 8698 exit the long position and even look for selling below 8698 with the stop loss of 8752 Nifty spot even on intraday basis.

In any case I am a buyer only for next two days or till 8840 is achieved which ever is earlier. Book full profits and step aside in Nifty.

Because after that the stretched charts can force Nifty to correct.

Strategy is 8650 closing basis is final trailing stop loss of long positions and we want to trail it further to very tight level of 8698.

Since the condition of move up from here has to be fast and run through we want Nifty to stay above 8752 always.

At Any point of time Nifty goes below 8752 be vigilant because it is then trading is non comfort area. And exit long position at 8698 and step aside.

Below 8698 Nifty may correct further.

Also at or around 8840 or latest by Tuesday in case of a run though move step aside because after that Nifty may correct as it has started getting stretched.

Trade Accordingly.

Note - ALL THE LEVELS ARE OF NIFTY SPOT ALWAYS.