11 February 2016: Nifty Elliott wave analysis: Will support at 7200 hold? It need to hold yesterday’s low of 7177 to see any bounce.

You must read previous articles and watch the given chart carefully to understand this article completely.

For 11 February 2016: -

niftyOn 10 February 2015: FII Net Sold – INR 751.33:  DII Net Sold – INR – 196.92

Yesterday’s dent was banking collapse. NPA concern remains governing for banking sector. We saw a good bounce for intraday about 90 points but this got sold at higher levels. Technical charts were suggesting for support at 7200-7230 levels. It got a closing in the same range. Big question is that will it move higher from here or will it fall more. If breaks and sustain then 7100 is also possible.

For today’s trading session, I am expecting market to open with gap down although it may not be as big as reflected by SGX Nifty. We are now just few trading sessions away from Union Budget. Market may try to take a call for budget. Budget moves are usually counter long term trend. Hence, it may be up this time.  If it has to bounce then time is on and levels are also on. Be cautious.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – Nifty Future has shown some respect for 7200 but this has not shown any good sign of recovery. Bounce came as expected in second half but after a dip. For today’s session opening goes around yesterday’s low. If it shows respect for 7190 then we can expect another possible bounce. If not then some more pain left for market. Do not short lower levels after gap down.

S&P 500 (USA) – It took a jump to move above 1875 but slipped to see lower close. I have already said for not to buy these bounce unless it spends time above 1875. It is hard to say how many attempts it will take to hit or break 1875 levels. My call is to buy only and only if it can sustain above 1875 levels. So far, trend is down in limited range. 


10 February 2016: Nifty Elliott wave analysis: Banks are bleeding. Who will take care about NPA? NIFTY Support -7230!!!

You must read previous articles and watch the given chart carefully to understand this article completely.

For 10 February 2016: -

niftyOn 08 February 2015: FII Net Sold – INR 84.56:  DII Net Sold – INR – 279.49

From past few years, I kept raising my points on corporate loan default. It is just burning tax payers money. Now, time has come to disclose the big names unless this trouble can be disastrous. Bank Nifty is expected to give a big dent to Nifty. I must say that big names on banking sector are still in denial mode of trouble. This is definitely not good.

For today’s trading session, I am expecting market to open with big gap down. I am expecting easy drag on banks and rate sensitive stocks. Nifty can come near to 7240-7230 support levels. I will not prefer to short this fall as this may have short life. I am expecting a bounce from low around 7230.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – Do not short at the opening around 7260 which is indicated by SGX Nifty. I suggest avoid shorting although technical charts are saying for steep fall below 7230. I am considering 7230-7200 as key support for reversal.

S&P 500 (USA) – This jump continues from the support of 1825 levels. I do not think that we can expect strength unless it goes above 1870-1875 levels. I am not advising long from these levels. Do not try to catch falling knife. Global market is not in any big mode of recovery. On long term chart we cannot see big recovery in near term. I am talking about a recovery of 8-10% which is not looking possible. 


09 February 2016: Nifty Elliott wave analysis: Failure at 7530 can result 7200 easily. This time it can try to break 7000!!!

You must read previous articles and watch the given chart carefully to understand this article completely.

For 09 February 2016: -

niftyOn 08 February 2015: FII Net Sold – INR 84.56:  DII Net Sold – INR – 279.49

Yesterday, it has broken 7450 then we saw a steep 100 points dip. More important is that it has failed on dot 7530 resistance levels. How was that? We never opt long in this trap. Now I am expecting the retest of recent long. Relief rally has died brutally.

For today’s trading session, I am expecting market to open with big gap down. We may not see even 50-33% retrenchment of this gap down. Do not try to catch the falling knife.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – The way it has cracked below 7450 we cannot see easy recovery anymore. Although recovery remains tough since first January itself. Below 7300, we can see 100 points more for intraday. We are active on 7200 put.

S&P 500 (USA) – It hit 1828 yesterday itself before last hour bounce. This took support at our mentioned level of 1825-1800 range. I am still confident that sooner or later 1800 levels will have to break. So the time is on. For today’s session it may try to retest 1828 levels again. If things go the way I am anticipating then S&P should break 1800 levels by this week only. Do not opt long. 


08 February 2016: Nifty Elliott wave analysis: If gap down can sustain 7450 levels then 7530 is still a possibility.

You must read previous articles and watch the given chart carefully to understand this article completely.

For 08 February 2016: -

niftyOn 05 February 2015: FII Net Sold – INR 606.83:  DII Net Sold – INR – 706.02

I was expecting 7500 and it came. From a level near to 7500 we may have a chance of pullback. This pullback seems to come in the form of gap down as suggested by SGX nifty. This gap down should not make market bearish so far. I believe that it can able to move towards 7530 after a gap down start. Is a top coming near to 7530? I must say that it is litmus test.

For today’s trading session, I am expecting market to open with small gap down. It may be around 7450 but nothing to be panic. This gap down may not sustain at lower levels. I believe for 7530. It may come by today or by tomorrow then a possible top. Top at 7530 is just an indication and it is too early for confirmation.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – I should analyse my study from the possible opening point at 7480-7870. I believe for support at 7460-7450 levels. It this does not break then bounce is very obvious. Below 7450 I will have no hope for bounce. Time is on to act.  

S&P 500 (USA) – It has failed to sustain above 1915 and eventually came at 1880. Shall we be bearish again? Well, something is not right. Technical charts are suggesting that if it can sustain below just 1870 then we may have reasons to believe for a move towards 1825 to 1800. One should prefer to be bullish above 1915 at least. No long till then. 


05 February 2016: Nifty Elliott wave analysis: As long as it respect low of 7350 and staying above 7400 it may be up for intraday trend. Target intact at 7500!!!

You must read previous articles and watch the given chart carefully to understand this article completely.

For 05 February 2016: -

niftyOn 03 February 2015: FII Net Sold – INR 357.13:  DII Net Sold – INR – 144.78

Logically this is saving support at 7360-7350 levels. Technically, Nifty may try to hit levels of 7500 as long as it is saving 7360-7350 levels. We need to note that we can still see volatile moves. It can fluctuate in both directions as of past few trading sessions. There are many sectors which are still trading lower.

For today’s trading session, I am expecting market to open with small gap up. If this does not fill the gap then we may see 7500+ levels. It may not be easier but possible. Today is the last trading day of the week. We may see some decisive moves. I am biased for long for the day.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – I need to say that technical indicators are not supportive and hence we see volatile on both sides. Nifty may get intraday support at 7390 and at 7360. On higher side if it can sustain above 7460 then we can expect levels of 7500 or nearby. I am assuming that market will give some gap up opening today which may not be filled.

S&P 500 (USA) – My study remain same for the day. This is making chart more interesting. Technically, above 1915 it will be played by bulls again. It will get intraday support at 1905-1900 levels. Be prepare, we may see another hit towards 1945 now. It may come within few days. I prefer long above 1915 with smaller possible stop loss. 


04 February 2016: Nifty Elliott wave analysis: If 7360can earn respect then 7500-7530 may be possibility again.

You must read previous articles and watch the given chart carefully to understand this article completely.

For 04 February 2016: -

niftyOn 03 February 2015: FII Net Sold – INR 357.13:  DII Net Sold – INR – 144.78

I quoted for support at 7360 and it hit a low at 7350 to close at 7360. I still consider that Nifty is on good support now. I am seeing a bounce in the market. It can hit 7460 to 7500 or somewhere in this range. If yesterday’s low has some respect then market may move higher for two days including today.

For today’s trading session, I am expecting market to go up only. Consider support at 7350 and use every dip to buy. Unfortunately it is going to be gap up now.  After gap up, I will wait for some dip to act on long. My choice to buy is definitely not banking stocks. Weak horse never wins the race. Pharma stocks are my favourite.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – I will trade long today and tomorrow. I will use intraday dip to buy only ignoring all technical indicators. It is one such rare time where charting technical indicator and wave theory has different views and I am going with by wave theory based buy. Let us see if this can work. My stop loss at 7360 and target is 7530.

S&P 500 (USA) – It got another bounce from lower levels to see an intraday gain of 40 points from the bottom. This is making chart more interesting. Technically, above 1915 it will be played by bulls again. It will get intraday support at 1905-1900 levels. Be prepare, we may see another hit towards 1945 now. It may come by this week itself. It means by tomorrow. 


03 February 2016: Nifty Elliott wave analysis: So, how was 7610 and how many has added short? Logical target is 7360 and then 7200.

You must read previous articles and watch the given chart carefully to understand this article completely.

niftyFor 03 February 2016: -

On 02 February 2015: FII Net Sold – INR 113.98:  DII Net Sold – INR – 323.23

It has broken 7500 levels and low hit at 7428. I have already given a hint for shorting on rise. Take a note that 7610 was first anticipated by us and it acted perfectly. So if it goes the way I am seeing then we can expect 7200 as short term target. This target may come sooner or later.

For today’s trading session, we may get a down opening. This downside opening may not fill and it may go to hit many lower levels. Technical charts are advocating for a target around 7360. If it opens around those levels then fall can extend towards 7300 also.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty February future – We added some put options for positional deal and deal with short on Nifty Future in last hour of trade. This gave well. Technical chart are suggesting for first around 7400 levels. If it breaks those levels then one can expect further 60-70 points fall by intraday only.

S&P 500 (USA) – It has broken 1915 and we saw a fall of around 1% from that levels and this goes on expected line. I have already said yesterday that below 1915 it will invite around of selling and futures are indicating same. Technically, as long as it is staying below 1945 it will try to hit 1860-1850 levels. Intermediate resistance will be at 1915 levels.