Wishing you and your family a very Happy and prosperous Diwali 2017.

regards,

Praveen Kumar

n


09 October 2017: Nifty Elliott wave analysis: Do not try to trade narrow trading sessions. Expect resistance emerging on higher side above 10000.

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

niftyAnalysis 09 October 2017: -

On 06 October 2017: FII Net Sold – 1040.40 INR Crs:  DII Net Bought – INR – 1239.74 Crs

Shall we still expect big for directional move? My answer remains same. One can expect intraday swing but over trend is still directionless. Technical momentum indicators are still showing that market may not head anywhere. 100 points plus or 100 points minus does not matter for this range.

SGX nifty is down right now which is nullifying major part of last trading sessions gain. This kind of moves is likely to continue till Diwali.  

For today’s trading session, Nifty is likely to open on negative note. Expect trading support at 9900 levels after opening. On higher side 10000 levels is still a key resistance which market is trying to break many times in past and broken also. Still buyers were not very active above 10000 Nifty, suggesting that market is in search of fresh buyers and that’s missing.

Do not trade level wise as those may not be very accurate in a range bound sessions. Its my expectation that trading ranges are going to be very narrow and moves are limited to some small patches of times, like, only in the first 30 minutes or in last 30 minutes or in that way only.

Simply, money is not very active now.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

Strategy for Nifty October future – Above 9900, it has a chance of coming to 10000 and it has done. Now, can it advance much above 10000? Well, I do not think in that way. It may give up and try to settle near to 9900 levels. This is based on many momentum indicators study. On higher side, 10020-10040 is a zone of resistance.  

BANK NIFTY October future – My study remains same. This index is my prime concern that it is showing weakness with great consistency. Even if it opens higher then also I do not see much possibility of trading higher. Even for October future I suggest that we may not have too many great support below 24000-23800. This index is sustaining at edge. Do not prefer to trade long. If possible just avoid this index till expiry. This may shock in any side. Technical resistance will be at 24400-24500



03 October 2017: Nifty Elliott wave analysis: Massive gap up opening coming. Warning sign- do not add long on gap up.

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

niftyAnalysis 03 October 2017: -

On 29 September 2017: FII Net Sold – 1546.86 INR Crs:  DII Net Bought – INR – 2064.63 Crs

Nifty is not doing much after making a double top and a double bottom formation. One can say that top was higher. Still, it is just not sufficient to say that this higher level was safer enough to name as higher top. So far market is looking to go on side wise direction due to festival mood which used to continue till Diwali.  

It is just not better to participate for anything on index for positional kind of trade as moves are expected to be limited to very limited. As long as 9680 holds I cannot say that market is going to open wider on down side.

For today’s trading session, Nifty is likely to open on strong to positive note. Technical support may be at 9750 before 9680. If it opens higher and stays higher then I strongly suggest waiting for opportunity to short which may come anytime. As of now, I cannot specify any levels for such activities. Take a note that market is already going to eat opportunity for rise due to gap up opening which can be as strong as 60-80 points. So be on the safer side.

There is no single sectoral indices which can come to rescue index. Bad shape economy has very higher valuation for stock price. Just stay away from investment too.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

Strategy for Nifty October future – It is likely to open at 9880 which is going to be too big in this kind of circumstances and eating all possible opportunity. It may not expect much beyond those levels due to multiple resistances arising above 9900 levels. So, I will look for an opportunity to trade on short side but only if I can see a possible weakness. So it is still a speculative call.

BANK NIFTY October future – This index is my prime concern that it is showing weakness with great consistency. Even if it opens higher then also I do not see much possibility of trading higher. Even for October future I suggest that we may not have too many great support below 24000-23800. This index is sustaining at edge. Do not prefer to trade long. If possible just avoid this index till expiry. This may shock in any side. Technical resistance will be at 



27 September 2017: Nifty Elliott wave analysis: Even the bounce before expiry may not have great meaning unless it stays above 9948.

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

niftyAnalysis 27 September 2017: -

On 26 September 2017: FII Net Sold – 1915.54 INR Crs:  DII Net Bought – INR – 1537.10 Crs

Well, Nifty hit a low around my expected support of 9800. It may be giving you sign of revival but this revival may not have much life. A truncation is usually a pattern which can spread a state of confusion amongst bulls and bears both.

My view is simple that market may not go much above before Dipawali. There may be the impact of festival season. It is looking like Nifty may not be in the mood to cross 10100 to 10200 levels immediately in near future.

For today’s trading session, Nifty is likely to open on strong note as indicated by SGX Nifty. Does this have big meaning? My view is that it may be coming to misguide you. I have pivotal point which is at 9948 levels. If this can surpass this levels and sustain then only I may think to trade long. Else I may prefer to just ignore the bounce or recovery whatever one says.  

There is no single sectoral indices which can come to rescue index. Bad shape economy has very higher valuation for stock price. Just stay away from investment too.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

Strategy for Nifty October future – We may have expiry impact and I may not be very keen to trade. We may see some odd bounce but there is no great sign to trade long. I like to see weakness to emerge at top. Will it come? I anticipate that it can come. Let us see. Technical support is at 9900 while moving on higher side 9980-10000 may act as resistance.

BANK NIFTY October future – This index is my prime concern that it is showing weakness with great consistency. Even for October future I suggest that we may not have too many great support below 24000-23800. This index is sustaining at edge. Do not prefer to trade long. If possible just avoid this index till expiry. This may shock in any side. 



25 September 2017: Nifty Elliott wave analysis: “Truncation” played its role and fall may intensify sooner. Meaningful support = 9800.

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

niftyAnalysis 25 September 2017: -

On 22 September 2017: FII Net Sold – 1241.73 INR Crs:  DII Net Bought – INR – 521.17 Crs

It was expected truncation in the market. I was expecting this to happen at new all-time high. If I am right then one can notice a great support line given in the chart. This support line has crucial meaning. Once it starts trading below that support line one can expect market to crash by good magnitude.

It does not matter how it goes, market is not going to be comfortable much above 10100 levels. What Elliott wave is saying? We can see maximum of 10400 levels. We have witnesses one correction and then a bounce. We are going to see such move next.

For today’s trading session, Nifty is likely to open at dull note and then we can see further sell off mode. It is going to in the range of 9850-9800 levels sooner. Those who went short on truncation call must be enjoying a lot. Do not opt taking long even if such signals comes. Either do not trade or trade short side.

There is no single sectoral indices which can come to rescue index. Bad shape economy has very higher valuation for stock price. Just stay away from investment too.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

Strategy for Nifty September future – Be fair, we can see fall of 100 points more. It has to hit 9850-9800 levels before expiry. On higher side no levels is safe. This is compact analysis which is suggesting staying away from long. It looks like we may see a Diwali which can go in favour of bears.

BANK NIFTY September future – I have already expressed my view that market may not be comfortable at this kind of market. We saw a fall afterward. I must quote that Banking index is weaker than expect. It has technical support at 24000 levels and then we do not have too many supports to save from fall. This is 101% going to be very critical. 



20 September 2017: Nifty Elliott wave analysis: Even after new all-time high it may remain dull.

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

niftyAnalysis 20 September 2017: -

On 19 September 2017: FII Net Sold – 1719.62 INR Crs:  DII Net Sold – INR – 77.68 Crs

It is true that Nifty is above its previous all-time high but market is not showing the kind of momentum which was expected from earlier. We are now entering in to festival season in Indian and this month used to be dull historically.

What can we expect now? To be fair, I am not in the great mood to participate in market. It has a scope of rise for 200-250 points more but chances are high that market may top out afterward. This is going to be key for next trading strategy. Technical support must be at 10000 levels.

For today’s trading session, Nifty is likely to open at dull note and I have no great expectation from the day. It may be dull and may remain in the range of 30-40 points. 10100 levels may be trading support but it is very unlikely to test those. Do not trade in dull market.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – I am expecting market to open on dull note around 10150 levels. It may be here and there in just few 30-40 points of range. I was expecting 10200+ levels but it seems that market may not deliver those. Equally, do not trade short unless some strong sell emerges?

BANK NIFTY September future – It is trading at 25000 levels. I am not very keen to trade in this kind of market. Technical charts may be looking to favour bulls but momentum may be supportive for long time. Ideally, it is going to be undue risk for trading which I like to avoid. Simply, do not trade. 



15 September 2017: Nifty Elliott wave analysis: Expect shyness again near all-time high. It may be a truncation.

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

niftyAnalysis 15 September 2017: -

On 14 September 2017: FII Net Sold – 1334.23 INR Crs:  DII Net Bought – INR – 793.31 Crs

As expected we are witnessing resistance at higher end again. It is a psychological resistance near to all-time high. Technical charts are suggesting that this meaningful resistance may take down market again. Alter sense is also true that above 10150 it can shoot up for next 200-250 points higher. As of now I am taking the cue for down side which should be a possibility.

For today’s trading session, Nifty is likely to open at negative note as indicated by global market. Technical resistance will be at 10150. It can get support around 10000 marks which should be tested. If it stars trading below 10000 marks then it can fall for few more levels which may be near to 9900 but that may happen next week.

There is no much sense to be on long side with crossover of previous top.   

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – I picked soft short trade yesterday and holding it for today. I am keeping a smaller possible stop loss above previous all-time high. Now, if it can break 10000 marks then I can expect more down side. If I stopped out then only I will think to be on long side. for the day I am expecting a down side or indication of down side.

BANK NIFTY September future – there is no great change in study. It has a high at 25200 on index which is almost 400 points or 2% away from current levels. Technical support is still at 24000 kind of levels for September Future.  Moving on higher side the life time high is still a resistance mark. I am not suggesting to go for trade on this index as it contains higher degree of rick of being truncated. 



13 September 2017: Nifty Elliott wave analysis: Market may take attempts for New All-Time high. Will it succeed?  

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

Analysis 13 September 2017: -

On 12 September 2017: FII Net Sold – 1230.74 INR Crs:  DII Net Bought – INR – 1313.08 Crs

As it is shown in graph market is trying its best to challenge its all-time high. It is definitely going to be interesting to see how it is going to react now. Technical challenges must emerge anytime. If it does not then market can surely able to extend more above new all-time high. I am not very confident on rally any more. It has almost done and this sharp reaction must be the part of final attempts.

For today’s trading session, Nifty is likely to open at flat to some positive note. Patterns remain same. It tries to achieve new all-time high and it is expected to make such attempt even today. Will it succeed? I have no take on this. I just like to see how it is going to shape up. There are many stocks which are under performing and specially banking index and hence I am not very confident for rise to extend much.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – I am still not picking traded on Nifty and I will not. Technical resistance can emerge at 10130 to 10150 levels. It is likely to be a dead day before taking a big move. I suggest to be on side line.

BANK NIFTY September future – It has a high at 25200 on index which is almost 400 points or 2% away from current levels. Technical support is still at 24000 kind of levels for September Future.  Moving on higher side the life time high is still a resistance mark. I am not suggesting to go for trade on this index as it contains higher degree of rick of being truncated. 



12 September 2017: Nifty Elliott wave analysis: Can it able to see much momentum above 10000? I doubt.

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

Analysis 12 September 2017: -

On 11 September 2017: FII Net Sold – 392.52 INR Crs:  DII Net Bought – INR – 877.37 Crs

Well, we are finally on 10000 marks and this is the highest possible zone which I have anticipated few days back. I am still advocating that market may not move much beyond 10000 levels on higher side. This may go range bound in this zone. If this is the right shoulder then this kind of moves is much anticipated but it may find it tougher to remain high.

For today’s trading session, Nifty is likely to open at flat to some positive note. Technical patterns are suggesting that today we may see some domination by bulls which must be purely based on momentum which it has created yesterday but resistance are very likely to emerge very sooner. It is advisable not to be long unless market takes out its all-time high.

Alter sense, if market makes a new all time high then momentum can take Nifty towards 10400 levels.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – I am still not picking traded on Nifty. There is no sign of weakness and I am not sure about rise unless it takes out all – time high. For today’s session we can expect resistance at 10060 to 10080 levels and support lies at 9960. I am not favouring trades today.

BANK NIFTY September future – Is it showing same kind of momentum as of Nifty? No, it is not. I strongly advise not to participate in this 100-150 kinds of up move which is used to get in these days. Remember it has not to many supports in down side below 24000-23800. One can say that it is much higher than those supports but it is not safe to be long on top in any way. Be on side line.  



08 September 2017: Nifty Elliott wave analysis: It is still giving signs of possible truncation near 10000 marks on Nifty. A recovery turning weak.

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

Analysis 08 September 2017: -

On 07 September 2017: FII Net Sold – 564.00 INR Crs:  DII Net Bought – INR – 245.32 Crs

Is this market going anything? No, it’s in a range which was anticipated. A flat channel is visible in the chart also. I am strongly recommending that one should avoid this kind of zone for any kind of directional trading activity.

It just turned shy near to 10000 Nifty levels and this is not new. Even if market goes above 10000 then also it will not have any great room to move up.  One must note that there is a possible formation of H&S pattern on daily chart. This is going to be the formation of right shoulder.

For today’s trading session, Nifty is likely to open at flat note. This may not able to attract much activity even in the last trading day of the week. Now, it is safer to avoid market. If I have to make a choice then I will prefer to take short deals at top. This is just my tentative view as I am not participating on index right now.  

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – I do not find any great reason to trade on Nifty or any other bluechip index. All are alarming and dead. It will face resistance at 10000-10020 levels with key technical support at 9930 and then at 9880. Things may be critical but as of now it is dead flat and seems that market is resting for taking fresh moves.

BANK NIFTY September future – I do not need to change my views and study on Bank Nifty. I was not confident on this index in recovery and still my views remain same. If market has to crack then we can expect some substantial impact on this index. Technical levels of support may be just at 24000 and then at 23800 but we may not have too many good support in down side. if this index starts sliding then it can see a possible dip of 1000 points in near future. 



05 September 2017: Nifty Elliott wave analysis: Truncating at top may be the first sign of fall. 10K is stiff resistance now.

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

niftyAnalysis 05 September 2017: -

On 04 September 2017: FII Net Sold – 873.91 INR Crs:  DII Net Sold – INR – 49.10 Crs

Happy Teacher’s day to the market. The best for us.

It just turned shy near to 10000 Nifty levels. It was already quoted yesterday that in spite of great technical signal market were not looking to go much higher. Rising slopes are not steeper as past as shown in the chart. Technical signals are not also that firm which is used to be. Few weeks back when Nifty was at 10100 levels, I have quoted that days of easy rise has gone.

So far, market is showing some respect for the 9900 support levels but frequent test of this support will go in favour of bears. One must note that there is a possible formation of H&S pattern on daily chart.

For today’s trading session, Nifty is likely to open at negative note which may be in line with global indices. For today I am not too optimistic for the bulls. Yesterday’s move for the test of 9900 was not a good sign to be on long side anymore. If I am correct then we may expect many such dicey moves in the days to come.

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – It is not showing any kind of strength at top. Anything below 9930 will not be good sign for trading support. Technical support will be at 9880 kind of levels and that’s also looking critical. We may see the opening for short trade very time sooner. One can expect stiff resistance moving on higher side.

BANK NIFTY September future – I was not confident on this index in recovery and still my views remain same. If market has to crack then we can expect some substantial impact on this index. Technical levels of support may be just at 24000 and then at 23800 but we may not have too many good support in down side. if this index starts sliding then it can see a possible dip of 1000 points in near future. 



4 September 2017: Nifty Elliott wave analysis: Do not expect much great upside even if it crosses 10k marks this time.

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

Analysis 04 September 2017: -

On 30 August 2017: FII Net Sold – 832.81 INR Crs:  DII Net Bought – INR – 731.72 Crs

It was a great closing on Friday’s session. Nifty surpass above 9925 and came very near to 10000 levels. Now, there is some news about North Korea again which is giving some global unrest. Well, whatever be the geopolitical situation but Nifty technical is suggesting that we have developed the support at 9950-9925-9900 in down side which used to be the resistance while it was moving up.

Big question – Shall I buy for positional in anticipation of fresh up wave. My answer is same that market is out of the time where is used to move much. Even if rise comes it may be limited in upside for this week. I can expect maximum of 10050-10100 levels on higher side. Technical support is at 9900 levels.

For today’s trading session, Nifty is likely to open at negative note which may be in line with global indices. Technically, we may expect an upside attempt from the support of 9950-9925. I cannot bet if this can sustain on higher side. Technical indicators are not that firm as of past time crossing 10000 marks.

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – It is likely to open at 9980 and that’s also impressive. We may see some dip and if dip comes and it shows sign of strength then only one can go for long trade. If it fails then simply ignore the day. It is likely to take support at 9960-9950 zone where one can opt soft long with stop near 9930.

BANK NIFTY September future – There is no great chance irrespective of what’s happening on Nifty, Bank Nifty is dull. It is currently trading at 24400 levels. Now, it is expected to take a support at 24200 on closing basis. If it has to get up move then also it will face resistance at 24700 zones. Well, I strongly expect a stiff resistance at 24700 zones. 



31 August 2017: Nifty Elliott wave analysis: Expiry may not be interesting in term of range but will be directive for next week. Resistance = 9925-9950


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

Analysis 31 August 2017: -

nifty

On 30 August 2017: FII Net Sold – 12.46 INR Crs:  DII Net Bought – INR – 290.78 Crs

We have derivative expiry today. I have already quoted that it will be difficult for Nifty to break the trading range of 9800-9900. So far, extreme points go from 9925 to 9750 but mostly remain in range. My views for market remain same. This is undergoing in the formation of right shoulder.

It has n-line support in the range of 9800-9750 and this is saving market. There is a fair chance that it can sustain these supports for some more days before making the decisive direction. One can opt swing trading support.

For today’s trading session, Nifty is likely to open at flat note. Will this do anything much? I think and assume that it is going to be dull and waste kind of expiry. If market under the effect of expiry then, it will make the move dicey and unpredictable. One can expect trading support at 9840-9800 levels which moving on higher side it may get an extreme point 9925-9949 kind of levels.

I prefer to be on side line on expiry day. Direction may favour bears but from higher end. I am definitely looking for scope to enter in to index trading position but there is hardly any scope. Sooner or later a fall may begin.

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – It is likely to open above 9910-levels. It has resistance at 9950 levels. The key point is that market is going to be dicey and bearish at any point of time. To be fair, I may avoid market on expiry day but we may see scope for entry on short side. this is going to be interesting for next week of trades.

BANK NIFTY September future – There is no great chance. It is currently trading at 24400 levels. Now, it is expected to take a support at 24200 on closing basis. If it has to get up move then also it will face resistance at 24700 zones. Well, I strongly expect a stiff resistance at 24700 zones. I will prefer long trade on this index only if this can surpass this levels. 



28 August 2017: Nifty Elliott wave analysis: Expiry week demands caution. Do not be blindly bullish.


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

Analysis for 28 August 2017: -

On 24 August 2017: FII Net Sold – 696.93 INR Crs:  DII Net Bought – INR – 1044.36 Crs

Well, we are on derivative expiry week after a long week end. As expected last week was limited for trading as index remains in the range of 100 points. Once again technical cues are not greatly in favour of wide trading zone. Derivative expiry can be the only hope for some fire work.  

Expiry factors may favour bulls as it has saved 9700-9685 support zone so hope for higher side is still alive although I do not think that market may see easy test 10000 marks for this week. I can still quote that market is not going to show further great sign of correction as long as it is above 9700-9685. If it breaks 9700-9685 then we can expect further slide of 400-500 points of Nifty so I am very calculative.

For today’s trading session, Nifty is likely to open at higher note but big question is that will it sustain the rise. Can it able to cross 9900 marks. There are many such questions and answer is not very clear. I am expecting market to test 9900 marks for this week and which should come on Monday itself. Well, I am not going to be very bullish from 9900 without seeing the reaction.

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty September future – It is likely to open above 9920 levels. It can surpass higher levels and it is expected to test 9950 kind of levels. Further moves depend on the kind of volume generating at those levels. In the lower side it will get support at 9860-9840 zone. This zone remains critical. There is a possibility of too many swings in this zone.

BANK NIFTY September future – It is currently trading at 24400 levels. Now, it is expected to take a support at 24200 on closing basis. If it has to get up move then also it will face resistance at 24700 zones. Well, I strongly expect a stiff resistance at 24700 zones. I will prefer long trade on this index only if this can surpass this levels. 



23 August 2017: Nifty Elliott wave analysis: Do not prefer to trade long on flip flop trade. H&S on development.


nifty

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

Analysis for 23 August 2017: -

On 22 August 2017: FII Net Sold – 828.69 INR Crs:  DII Net Bought – INR – 435.05 Crs

Fine, I said on Monday that market has less room to trade on long side. I was right. Since then I have restricted my activity on index. Nifty is resting near 9800-9750 levels. Well, even if bounce comes there is a chance of getting sold at higher levels.

Have a look on the chart where we can see the development of H&S pattern. Possible n-line is at 9685. Here is a firm words, if it breaks and start trading below 9685 then we can see the possibility if 9300-9200 as the logical target on down side. If this happens then it would name as almost 10% correction. I must say that we can now on such possibility.

For today’s trading session, Nifty is likely to open at higher note but I am not firm for top to sustain. I have not added any trade yet on index. What I believe is that Nifty may not get of this 100 points range easily. It does not matter what technical is saying I need a concrete signal to trade which may be short on top. Let us see how it comes.  

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty August future – If I take 9800 as a mean price then, 50 points above or below does not matter. This market is not decided to take a direction. Soon it will take. I can see the possible short trade on the development of H&S pattern but that’s not easy to deal right now. May be, I will not trade today also unless I see weakness on top.  

BANK NIFTY August future – This index will be key for bears, if this can sustain below 23900-23950 levels. Will it break and sustain? I am repeating that we have limited support if it sustain below 23900 levels. This can see some big hammering by bears on lower side. who knows in worse case it may get support after fall of 1000 points. Its too alarming. 



21 August 2017: Nifty Elliott wave analysis: 9700-9685 is a support but market is likely to be range bound for first half of this week.

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

niftyAnalysis for 21 August 2017: -

On 18 August 2017: FII Net Sold – 2182.12 INR Crs:  DII Net Bought – INR – 584.59 Crs

Last week we saw a bounce from nearer to 9700 and then hit a high at 9900 levels. Now is it resting in the mean zone? Well, I am expecting a choppy week. Market may enter in the days of dull trades. Technical support of 9700 will remain valid. Equally, I am not sure if it can see easy cross of 10000 levels.

I suggest that activity should be limited in choppy zone. If one look at the chart then one sense that market may be forming a H&S pattern on daily chart.

For today’s trading session, it is expected to open around 9850 levels. If I have to pick a direction for trade then I will prefer to pick a long trade but not for the target much above 9900. As I said if it have to pick but I am not going to pick trade on index. If one has to think about great trend break out then one need to wait for sustained trading above 9900 levels.

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty August future – It is expected to open around 9850 levels. I will not opt trading on index right now. I have a view that market may undergo a range bound mode. It may not break 9800 on lower side and equally it may not see easy break on higher side either. This study may be valid for 2-3 trading sessions. Let us see if we can get a direction for even 50 points.

BANK NIFTY August future – I have already forecasted that this index will not do much near 24000. This index is not stable as Nifty. I will avoid this index for trading long. I must remind that trading supports are not very frequent if it breaks 24000 levels. This index is on threatening levels. Perhaps the reason that I am not picking long trades. 



16 August 2017: Nifty Elliott wave analysis: If it saving at 9700 then second compulsion for long is to trade above 9800.

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

niftyAnalysis for 16 August 2017: -

On 14 August 2017: FII Net Sold – 1638.83 INR Crs:  DII Net Bought – INR – 1619.17 Crs

After a fall of 400 points we saw a breather from the low of 9685 which was just nearby 9700 levels. So far I am considering it as breather although it may see revival. Basics of technical analysis are suggesting that today market may advance and recovery should last at least as long as 9870-9900 + levels.

Shall we opt trading long now? Well, this recovery is not giving me great comfort so far to trade on long side. I am sitting on side line to see the strength. It is safer to wait for strength. If I have to take biasing then it may be on long side but we should avoid trading on soft biasing trend.

For today’s trading session, it is expected to open around 9780-9770 levels. If this can sustain on support line then we can expect strength on higher side. It is suggesting that move above 9800 will have better conviction for a move towards 9850-9870 levels. Let us see if this happens. It is for sure that days of easy rise is over. If one has to trade long or short then timing and picking is very important.

Top are still expected to come at 10400 but I am not too firm now. I was bullish from 9000+ and I will take market part wise. Firstly, I am focusing if this recovery can go around 10000 levels or not. First cross of 10000 was important but now it is more important to see the second attempt.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is an unusual and healthy phenomenon.

Strategy for Nifty August future – It is expected to open around 9800 levels. I will opt trading long with many terms and conditions. If it can sustain tall above 9800 then only we can expect for fresh 50-70 points on higher side. If it just trading below 9800 then bears may be back at any moment. Do not trade on tug-of-war king of situation.

BANK NIFTY August future – 24000 is a support and I am looking market reaction at this levels. It has bounced from 23944 levels. Well, approximately it has make at that level. This index is not stable as Nifty. I will avoid this index for trading long. I must remind that trading supports are not very frequent if it breaks 24000 levels. 



11 August 2017: Nifty Elliott wave analysis: The last hope support is at 9700. If it breaks this supports too then pain can be even worse.

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