23 February 2017: Nifty Elliott wave analysis: Expiry day and Nifty may take a move towards 9000. Make or break???

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

23 February 2017: -

On 22 February 2017: FII Net Sold – 259.21 INR Crs:  DII Net Bought – INR – 917.97 Crs

We got close above 8900 and hence my expectation for 9000 is still on. Given chart has a triangle breakout on higher side. A rising wedge is usually dangerous but definitely not above the peak. It is a general sense that as long as it is above 8900 we can expect higher side. We have derivative expiry today so nothing can be firm.

For today’s trading I am expecting Nifty to open on flat to positive note with trading support at 8900-8880 levels. Well, it is a wild expectation that if we get short covering then Nifty can go on striking distance of 9000 levels. Global strength is a key factor. Almost all global market is firm and hence Indian market run. Take a note that one sided rise always contains a greater degree of risk. Let us see how expiry goes.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty March future – I hardly traded index this month. March future is expected to give 9000 mark today. I am definitely not going to be active for today also on index due to derivative expiry unless it gives short covering rise. Technical support is at 8930-8910 levels. Let us see if this can hit 9000 today or not.        

BANK NIFTY March future – We have reasons to expect 21000 levels right now. If it can sustain above 21000 then we can see some good move on higher side. If short covering moves comes then it must be more impressive than Nifty. If one wants to be active on long side then Bank Nifty may prove to be better instrument. 



22 February 2017: Nifty Elliott wave analysis: it is still firm and living on the possibility of hitting 9000 marks in this expiry.  

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

22 February 2017: -

On 21 February 2017: FII Net Sold – 1435.76 INR Crs:  DII Net Bought – INR – 1535.44 Crs

It has done 8900 levels and closed on some better note. So far it is looking like to hit 9000 levels. We can expect a short covering based rise near to expiry. Technical support should not be the concern as momentum is still stronger.

For today’s trading I am expecting Nifty to open on flat to positive note. We can expect trading support at 8880 and then at 8830. I am expecting a rise to continue near to expiry. Global strength is key and fuel. Will Nifty ever go in correction mode? Answer is simple; correction will come only at some unexpected time. I am not in anticipation mode. My expectation for the day is 9000 now.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty March future – Have a look, it may open around 8950. We do expect the possibility of 9000 today. We get it or not on dot is different point. A rise is expected. Technical support is at 8900 and I strongly say that one must avoid shorting. Use dip to buy. Only concern is that trading move will be limited to just few minutes. That minutes can be in first hour or last hour.       

BANK NIFTY February future – My view remains same. It was looking to give 21000 and it is inching closer. Let it come. One thing is sure that above 21000 it will go furious and rise may be rapid. I can repeat that it is banking index which going to give good support. Technical support will come in the range of 20600-20500 levels. It is great so far. 



21 February 2017: Nifty Elliott wave analysis: Nifty is in the striking distance from demanded 8900 levels.

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

21 February 2017: -

niftyOn 20 February 2017: FII Net Sold – 433.38 INR Crs:  DII Net Bought – INR – 827.90 Crs

Slowly and steadily Nifty has moved towards the demanded 8900 levels. Market may be in limited range as currency and debt market are closed due to municipal election in Mumbai. Well, technical charts are demanding 8900 and next course of action will be decided only after seeing the reaction at 8900. Can it challenge 9000 before expiry?   

For today’s trading I am expecting Nifty to open on flat to positive note. We can expect trading support at 8830 and then at 8800. On higher side 8900 is decisive levels. Cross above 8900 may give a quick fire 8940 levels. Well, I am not expecting this much action today. It may be dull to slow to steady in limited range.

Do not deal in the market if it remains in a range.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – I still 8900 which is expected to hit by today. I have no take on what is going to happen next. Wait-watch and then trade, if it can stays above 8900 levels. It may not be easy as it is looking as of now. Let us see. Technical support is at 8840-8830 levels.      

BANK NIFTY February future – My view remains same. It is looking better than Nifty. It has closed above 20500 and that’s also a fresh move with a save at 20000 levels. In normal circumstances it must be very first sign of 21000. If unexpected does not happen then I will expect 21000 on Bank Nifty. It is looking stronger than Nifty now. In down side it will support at 20300 and then at 20000.   



20 February 2017: Nifty Elliott wave analysis: Nifty demanding 8900 before expiry. A level which will act as make or break.  

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

20 February 2017: -

On 17 February 2017: FII Net Bought – 8043.17 INR Crs:  DII Net Sold – INR – 5631.91 Crs

Will it challenge 8900von Nifty? Logic says yes that it should hit. Technical are also supportive but this zone is proven as a zone of most stiff resistance so far. I still bet for 8900 before any great up or down further. Will correction hit anytime sooner? Answer is simple that if correction has to come then it will come in unexpected way.

For today’s trading I am expecting Nifty to open on flat to positive note. As there are so many dull sessions so it is very hard to predict which day it will break. So far it looking up and looking to hit 8900 levels. I am not very firm due to the possibility of choppy moves. As we are in derivative expiry week so I am expecting that it should give some great direction this week.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – Near to expiry I am not expecting Nifty to run with great premium. Just for once or at least for once 8900 is the figure with is on demand. The time is on. Technical support for today’s trade will be at 8800 levels and expected levels to come is 8900. Let us see.    

BANK NIFTY February future – It has closed above 20500 and that’s also a fresh move with a save at 20000 levels. In normal circumstances it must be very first sign of 21000. If unexpected does not happen then I will expect 21000 on Bank Nifty. It is looking stronger than Nifty now. In down side it will support at 20300 and then at 20000.   



16 February 2017: Nifty Elliott wave analysis: Nifty has support at 8700 levels. Will this support work?

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

nifty16 February 2017: -

On 15 February 2017: FII Net Bought – 225.84 INR Crs:  DII Net Bought – INR – 248.98 Crs

It failed at 8830 and slipped. Well, this is confirming a resistance developing at 8830. Nifty is in the vicinity of 8700 support levels. Below 8700 we can expect support at 8660 and then at 8600. One must not be impulsive for trading. This can convert in to weakness. Take a note that stopping at 8830 must have a meaning that market wants to give us a message.  

For today’s trading I am expecting Nifty to open on flat note. Afterward, market will get support at 8700. Well, I cannot claim that market can give respect to 8700 support or not. If this breaks 8700 then we can see immediate fall towards 8660. Although, it is not looking easy to expect such break but I have warning signs and one has to be cautious. Remember, rally in stock market never goes in straight line and same is true for fall.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – One must have a look for support at 8720 to 8700 levels. It is likely to open around 8750-8760 levels which is not so hopeless node to start. It is going to be interesting to see how will react afterward. Technical support is there on lower side. Will it work? Will we again see selling from higher end?   

BANK NIFTY February future – Bank Nifty is a hope for Nifty and it is still on optimistic note. I cannot name any sign of weakness unless it goes below 20000 levels. Just the way, Nifty closed below 8740. Well, if market goes on revival then Bank Nifty will cone to give good support to the market sentiment. There is no point to trade short.  



14 February 2017: Nifty Elliott wave analysis: Nifty needs to surpass above 8830 supply zone. Will it make it today?

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

14 February 2017: -

On 13 February 2017: FII Net Bought – 306.76 INR Crs:  DII Net Sold – INR – 171.70 Crs

Well, I quoted yesterday,” It is fair to talk about 8900 as a good possibility. Market momentum will decide if we can get 9000 or not.” Well, 8820-8830 is turning as a supply zone. Charts are reflecting that if it is unable to cross above 8830 zone we may see some kind of pause. Next course of action will be decided on break out if comes. Is 8900 or 9000 a compulsion? No, it is not. Will it come? It may come, it’s not unavoidable.

For today’s trading I am expecting Nifty to open on positive note as indicated by SGX Nifty. It is happening on regular basic.  Technical support is still at 8700-8740. I am not very active in trading in these kinds of days as it may be forced trade. Take a note that from past six trading sessions market is on neutral mode. Let us see if this break on higher side or else.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – There is no need to change analysis for today. 8900 is still a possibility? Yes, it is in the race. As global indices are highly up so we can expect market to remain up. After opening it will get support at 8820-8800 levels for intraday. Let us see what it can hit.   

BANK NIFTY February future – Nothing great to change in my analysis. It is comparatively tired but still in the race. We long as it is above 20000, I have reasons to believe for 21000 levels. It looks as buy in dip. Technical signal can be neutral to up only as there is no sign for shorting which can sustain for even three days. Top is sooner or many new top to come? We will get this answer by this week and this is only confirming thing. 



13 February 2017: Nifty Elliott wave analysis: This consolidation may challenge many higher levels if it can sustain above 8660!!!

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

nifty13 February 2017: -

On 10 February 2017: FII Net Bought – 504.51 INR Crs:  DII Net Sold – INR – 224.76 Crs

We are into a great week. Nifty is close to 8800 with many hopes and some fear. Well, so far it is looking all up and there is no down signal. It has respected support of 8740 to 8700 levels. It is fair to talk about 8900 as a good possibility. Market momentum will decide if we can get 9000 or not. We may get some soft short signal during intraday session but most of them misguide only. Take a note that until and unless it does not slip below 8660 there cannot be meaningful signal for weakness.

For today’s trading I am expecting Nifty to open on positive note as indicated by SGX Nifty. It is primarily due to massive rally in global market. From past one month Nifty is out performing global indices. Even now all global futures are up and hence I am expecting a good day for bulls. Simple, expect 8900 at least and support to come at 8740-8700 levels.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – There is no need to change analysis for today. 8900 is still a possibility? Yes, it is in the race. As global indices are highly up so we can expect market to remain up. After opening it will get support at 8820-8800 levels for intraday. Let us see what it can hit.   

BANK NIFTY February future – It is comparatively tired but still in the race. We long as it is above 20000, I have reasons to believe for 21000 levels. It looks as buy in dip. Technical signal can be neutral to up only as there is no sign for shorting which can sustain for even three days. Top is sooner or many new top to come? We will get this answer by this week and this is only confirming thing. 



10 February 2017: Nifty Elliott wave analysis: As long as it is saving 8660, it may take attempt for 8900. Weekly close is important.

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

nifty10 February 2017: -

On 09 February 2017: FII Net Bought – 356.63 INR Crs:  DII Net Sold – INR – 379.63 Crs

We saw a bounce from the zone of support which was at 8740-8700 levels. We have passed four days in this range with flip flow. Market may not move much even today. Shall I still expect 8900? Yes, as long as it is above 8660 it has every chance of hitting 8900 levels.

Up is up but we can able to see a saturation of rally sooner from this levels but the last move must be sharper.

For today’s trading I am expecting Nifty to open on flat to positive note. Technical support remains same in the range of 8740-8700 levels. We may see conflicts in intraday signals as those are heavily over bought. Next five waves initial may not be easy but not completely impossible. I can say one thing about surely that the next top will be unpredictable. Let us see what is coming on Friday.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – There is no need to change analysis for today. 8900 is still a possibility? Yes, it is in the race. If it has to see 8900 then the beginning may start from today. Technical support for intraday trading is at 8800 to 8780. One can prefer to buy in any dip. Well, if market gives feeling to tiredness then avoid any trade. Do we have such chance? Yes, we may have.  

BANK NIFTY February future – Yesterday was first day after many weeks that Bank Nifty was looking tired on intraday chart. Will bulls try to buy fresh? I must say that it has to find new levels to extend. 20700 – 21000 will be the levels that we can talk about to invite fresh bulls. Technical support is at 20000 levels. This index is not looking as strong as Nifty now just based on yesterday’s close. 



09 February 2017: Nifty Elliott wave analysis: Post policy days – if market does not get tired then 8900 must be the next possibility.

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

nifty09 February 2017: -

On 08 February 2017: FII Net Sold – 127.69 INR Crs:  DII Net Sold – INR – 166.82 Crs

Well, if I ignore the knee-jerk reaction then 8740 got respect yesterday. It has at least closed with a bounce. Technical up trend remains intact. It is likely to take a move towards 8900. I can say that shorting is just not possible for short term unless it breaks 8660. Technical support is too far from current levels. It is suggesting that if dip comes it will be bought by bulls.

Something will come to stop this rally sooner but this has not come yet and so it is up and remains up.

For today’s trading I am expecting Nifty to open on flat to positive note. Technical support is at 8740-8700 again for intraday. Idea should be to buy in dip and trade long. There is just one thing that can stop one form trading and that can be the limited trading range. Very next leg can push Nifty towards 9000 to challenge.

Warning sign must be here from February top. It may prove to be a counter trend rally on long term count.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – 8900 is still a possibility? Yes, it is in the race. If it has to see 8900 then the beginning may start from today. Technical support for intraday trading is at 8800 to 8780. One can prefer to buy in any dip. Well, if market gives feeling to tiredness then avoid any trade. Do we have such chance? Yes, we may have.  

BANK NIFTY February future – A down towards 20100 and then a close above 20300 keep bank Nifty in the race. It may challenge the levels of 21000 sooner or later or may be close to those. It nifty to make a new all-time high then 101% Bank Nifty will be better than Nifty.  



08 February 2017: Nifty Elliott wave analysis: Policy day – trend will remain up as long as it is above 8740!!!

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

nifty07 February 2017: -

On 06 February 2017: FII Net Sold – 201.13 INR Crs:  DII Net Bought – INR – 1620.03 Crs

I discussed about the levels of 8740 and its importance. It was down yesterday and now we are RBI policy day. One day down cannot be named as weakness. Nifty is on support but 101% these are the days of extreme caution. Remember, many tops used to come in February. If top comes in February then mostly it turn to be high point of the year. Momentum is strong but litmus test of momentum will take place now.

I still repeat for long term view, “It’s simple, either a new five way to start or double top.”

For today’s trading I am expecting Nifty to open on flat note. Two important supports for Nifty now are 8740 and 8660 which can save market from any bigger jerk. Rest depends on RBI policy outcome. I strongly believe that RBI will not disappoint the market. If that’s so then I have fair reason to believe for some higher levels. Well, what’s if RBI disappoint?

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – Up or down , trend will remains intact as long as Nifty Future at least respect 8740. Its policy day so we should not deal much. Let us see the outcome. On higher side 8900 may also be a possibility if market like policy outcome.

BANK NIFTY February future – Time has come justify this rally. Will RBI goes in line with trend which is set up by BANK NIFTY trend? From technical charts, I am in favour of positive or pleasant news. At least market   should respect the outcome. Shall we bet 21000? I cannot say for such bigger target but charts have some hint for bigger up trend. Well, with this high move, it may make a final top. So, be carefulllll… 



07 February 2017: Nifty Elliott wave analysis: Can Nifty challenge 9000? If it does then it will challenge for new all-time high too.

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

nifty07 February 2017: -

On 06 February 2017: FII Net Sold – 403.52 INR Crs:  DII Net Bought – INR – 449.52 Crs

Wow!!! 8800, here I need to think. Well, 101% I was not expecting anything even close to 8800 just a month back. The things have changed. I was not able to update yesterday’s article but left a message on twitter with a possibility of 8900 by this week. Shall we expect more? There are two ways opening form this point. One is reflecting from the given chart which is showing for extension of this wave which can challenge no only 9000 but it may challenge for a new all –time high. If that’s the case then there will be no great fall in the year 2017. Second point is more important, the next top will be very crucial if it fails to break for new all-time high. It will be named as double top on long term chart. In that case, if it comes then 2017 will be year of fall. Well, whatever comes we will came to know by this month itself. I am not in hurry to decide anyone of the two given way. A double bottom like formation with second bottom below 7900 was misguiding?

It’s simple, either a new five way to start or double top.

For today’s trading I am expecting Nifty to open on flat note. Two important supports for Nifty now are 8740 and 8660 which can save market from any bigger jerk. It does not look like we can get fall by today or tomorrow but a profit taking deserves. Intraday down side may be an opportunity to trade long and add long. I still believe that 8900 is on the online.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – Well, there is no point to talk for immediate fall unless it closes below 8740. So it is looking up for 8900 to 8940 levels. Why not, it can challenge 9000 levels too. Too sharp up moves run with big risk and that is something one need to be careful. Fall will not come with warning so stop loss must be on job. Higher levels may come.

BANK NIFTY February future – It came very close to 20500 and it is at a crucial juncture. The next thing that we can talk now can be 21000+ levels and then only we can think about higher levels. Technical set for Bank Nifty is looking much better than technical set up for Nifty. If rally has to come then it will be much greater on Bank Nifty. Technical support is at 20300-20200 levels and down side may be opportunity to trade long but I have no great idea about stop loss.  



03 February 2017: Nifty Elliott wave analysis: As long it is respecting 8660 we can expect extension of rise. Will it fail at some point?

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

nifty03 February 2017: -

On 02 February 2017: FII Net Bought – 108.59 INR Crs:  DII Net Sold – INR – 110.89 Crs

Support of 8660 is still maintaining and it has closed almost on dot around 8740. It has almost done 76.4% retrenchment. Can it extend more? Yes, as long as it holds above 8660 we can expect extension only. Technical charts are giving every reason for a pause to fall but there is no single confirmation. Moreover, we are in February month.

For today’s trading I am expecting Nifty to cool off little in first half. It will again take support before 8660 and it may take one more attempt to move higher in second half to challenge a close above 8740. It is going to be interesting. If it starts recovering in second half then it will have opportunity to trade long. If it breaks 8660 then we can have opportunity to trade short.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – A good budget saved the market but it is almost silent at higher levels and market to decide its next course of action. Technical support is at 8680-8660. As long as it holds these levels it will prefer to move higher levels. At some point it will violate one support. Well, so far there is no single violation.  

BANK NIFTY February future – No great change in levels and analysis for Bank Nifty. 20000 has done and trend based momentum target may be looking towards 20300-205000 levels. Shall I expect more momentum? Let me tell you that in a euphoric rise top used to come at the time when least people expect about it. Today may be such day. I may have less chance to trade long without any price correction. 



02 February 2017: Nifty Elliott wave analysis: It was a great budget, not inspired by politics. Technical support of Nifty is at 8660 levels.

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

02 February 2017: -

On 01 February 2017: FII Net Bought – 92.73 INR Crs:  DII Net Bought – INR – 1133.74 Crs.

I am keeping market reaction at one side and I felt that this is a good budget. It has not surprised negatively before election in many states. Stock market has already given its reaction. It has pre budget rally and it has rally on budget day. Well, now budget has done and historically it will not have reactions for more than one two days.

 

For today’s trading I am expecting that market will take a pause. Fibonacci retrenchment has given resistance in the zone of 8700 to 8740 levels. It is 78.60% retrenchment. Yesterday was a great reaction towards budget and normal market dynamics suggesting for price correction against this momentum. I am not saying for immediate shorting. There is a support at 8660 and as long as it holds 8660 we cannot expect a signal for weakness.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – A simple level – 8760. Have a look for this. If it crosses then we can expect another furious up wave (or extension of wave). Technical support is at 8660-8680 levels. On way of looking in to it is can it extend gains from nearby support of 8680-8660 to a 100 points rise? Well, today is the litmus test.

BANK NIFTY February future – 20000 has done and trend based momentum target may be looking towards 20300-205000 levels. Shall I expect more momentum? Let me tell you that in a euphoric rise top used to come at the time when least people expect about it. Today may be such day. I may have less chance to trade long without any price correction. 


 


01 February 2017 :

GoodMorning, there is no analysis for budget day.
day has come for 400-500 points of range for NIFTY.
Best of Luck!!!


31 January 2017: Nifty Elliott wave analysis: My word of caution is extreme for today, just a day away from budget.

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

nifty31 January 2017: -

On 30 January 2017: FII Net Bought – 607.36 INR Crs:  DII Net Bought – INR – 40.04 Crs

What to observe from upcoming union budget? Normally, budget has no greater impact for more than one two days. Well, I have something which market will definitely look for. This is Long term capital gain tax and the definition of long term capital gain.

The second important point is service tax structure. We almost know that there is a possibility of big hike in service tax. Both may have adverse impact on market. If finance minister surprise market positively then only market can head higher. If it head higher then we need to talk about 9000. Charts are not supportive for 9000 so sooner. In adverse impact we can easily see a wash out of 300 points of Nifty.

For today’s trading also I am expecting market to open in line with SGX Nifty and immediate support should be at 8600 levels. It is looking like another gap down but it will not get any great follow up. Market will be either nervous or it may see dull trade in waiting mode. I see a higher chance of waiting mode.

Event is big and event is going to historical. What am I expecting from budget? Truly, I am expecting nothing. Budget is just a sentimental factor. It has nothing to do with dynamics.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – I have nothing great to change from my previous analysis. It can take support at 8600 kind of levels but I am not sure if it can be good to enter in to trade now. It has higher chance of turning choppy in 30-40 points of zone. Just stay away of big move does not start on down side.   

BANK NIFTY February future – I am keeping my study unchanged for Bank Nifty. Is 20000 still reachable. Yes it can but it may have a possibility of missing. Today is decisive day if bulls like to buy the dip. If it fails then 20000 may not come sooner. Immediate technical support is at 18600-18500 kind of levels which is too far. How far this is, we will see this today. One thing- do not prefer to trade long.  



30 January 2017: Nifty Elliott wave analysis: Budget week – if today’s gap down sustains then this can turn into “CAUTION”.

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

30 January 2017: -

On 27 January 2017: FII Net Bought – 211.77 INR Crs:  DII Net Bought – INR – 482.52 Crs

Union budget 2017 is coming this week. Pre budget rally has done? Now, market has to be realistic to enter in to budget. Technical target on upper is done or not? It is a big question. Right now I can see that SGX Nifty is trading in red. This gap down is crucial.

What I can say about gap down is this, “If a gap down coming after multiple day of rally and market maintains the gap till close then it has higher chance of becoming the medium to short term top.”

For today’s trading also I am expecting market to open in line with SGX Nifty and immediate support should be at 8600 levels. I can equally quote that market is far far away from the technical level of panic. Hence, it is too early to say about a top although chances are there.

Event is big and event is going to historical. What am I expecting from budget? Truly, I am expecting nothing. Budget is just a sentimental factor. It has nothing to do with dynamics.

This remains part of my article. We may be under bear market till 31st March 2017 and what I am talking is a pullback of bear market on medium term wave count. Someone asked me if global market is up how can Indian market be down? Well, that’s the way and that’s what Elliott wave has convinced me.

I am just writing my view and I am least interested in learning or sharing so please do not make sure request.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

Strategy for Nifty February future – 8700 to 8740 was crucial and seems market is about to turn cautious now. If gap down sustain then it may give up many good points. If it breaks 8600 then we have chance to see a slide up to 8500 to 8470 levels. Can we get this kind of big moves before budget? I cannot say exactly.

BANK NIFTY February future – Is 20000 still reachable. Yes it can but it may have a possibility of missing. Today is decisive day if bulls like to buy the dip. If it fails then 20000 may not come sooner. Immediate technical support is at 18600-18500 kind of levels which is too far. How far this is, we will see this today. One thing- do not prefer to trade long.