31 August 2016: Nifty Elliott wave analysis: Its WoW rise with all possibility of hitting 8800 levels. Further rise will come with great risk.

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

niftyFor 31 August 2016: -

On 30 August 2016: FII Net Bought – INR 390.63 Crs:  DII Net Bought – INR – 485.14 Crs

I was in wait mode for adding short in spite of all weakness. Here comes shocker for bears. Breakout of narrow triangle formation goes on higher side. I am saved but I missed this rise in the name of caution. Well, I will not take out the word of caution. As far as Nifty is above 8700, there is no question of any weakness. In fact, market can shock you at higher side but definitely not at lower supports as supports are too many in frequent intervals.

For today’s trading session I am expecting market to open on flat to negative note but there is no great chance of any weakness. I see higher chance of consolidation on these levels or some more rises. I have anticipated earlier as 8880 as August month target which seems to be in action.  I have quoted earlier also that support for Nifty to come at 8540. Let us see how it will shape up today.

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 September future – So, triangle has played its role again. When it was looking for dip it took U turned and washed all shorts. I am not short on Nifty yet and I may have a plan to give from all such odd trades. Market may have chance to move higher again. It may looks to hit 8840-8860 levels too. I am strong on my call that rise may be very risky from current levels. If market can shock bears then it can shock bulls too.

BANK NIFTY – It has saved 19200 and moved towards 19500 levels. Technically above 19600 we can expect a move towards 20000 levels. Will it happen in reality or will it miss by smaller margin. Technically, call for rise is still applicable although this index is not convincing me to much extent. Those who can afford risk can trade long on this index.  



30 August 2016: Nifty Elliott wave analysis: No great answer so far for possible profit taking but be cautious on long deals. Profit taking is near.

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

For 30 August 2016: -

niftyOn 29 August 2016: FII Net Bought – INR 286.52 Crs:  DII Net Bought – INR – 17.49 Crs

Have a look at the pattern generating on Nifty chart. This is turning narrowing triangle and it stay in the range from past 45 days. This kind of zig-zag move is most unfavourable pattern to trade. It is not that the range is small but it is because of the reason that it can behave unpredictable way at each end on the anticipation of breakout or break down. Analysis is simple I do not want to add short at lower end unless it breaks 8540 levels with conviction.

For today’s trading session I am expecting market to open positive as shown by SGX Nifty as opening cues. This may happen backed by global cues. Technical charts are suggesting that it may again hit levels of 8650 kind of levels again. It is not easy to predict up or down. My anticipation is still same. Market should go down for once from higher side. Will it break 8540 sooner? Do not be active on Index unless strong signal emerges. There is a lot of noise as technical signal.

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 September future – I do not see reasons to trade on Nifty future yet. It took a bounce yesterday in second half but width of the triangle may go narrow. On other hand it is not breaking higher or lower than the width. If I have to opt trading then I may opt shorting on rise. Technical resistance can emerge at 8700 and then at 8750.

BANK NIFTY – This index is working as cushion for blue chip index. It is saving fall as well as it is limited rise. Let us see how it trade today. My study and levels remains same.  Avoid present breakout now for long. It has definitely not displaying the kind of strength which I was expecting above 19200. Fine, as long as it is above 19200 I may not opt shorting. Well, but below 19200 I will definitely think to short this very seriously. Technically, 19600 may remain untested. We will see resistance emerging at each higher level. 



29 August 2016: Nifty Elliott wave analysis: Overall trend – bearish this week for technical and Elliott wave target 8400-8300!!!

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

For 29 August 2016: -

niftyOn 26 August 2016: FII Net Bought – INR 341.35 Crs:  DII Net Bought – INR – 266.43 Crs

I have already warned for a possible breakdown kind of situation which can be treated as mini correction. In on-going process we can expect market to head towards 8400-8300 levels. Nifty will face hurdle at 8600-8700 for medium term. This week trend is looking down. My preferred trade will be on short side on index for whole this week. Use pullback to short only. Do not buy.

For today’s trading session I am expecting market to open flat or little lower. We can expect sell off mode confirming below 8540 itself. On charting structure we can see a triangle break down as mentioned. Usually this kind of pattern favours bears. If follow up selling goes on then we can see a wild target on down side. Take a note that we do not any near term trigger for market to remains up.

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 September future – I turn active on 8500 put. Well, I may opt to hold this for some time. Technically, Nifty will see stiff resistance at 8660 to 8680 levels. I must say that this kind of heavy premium value will not sustain for longer this month. I will just prefer any pullback to short Nifty September future at suitable levels. Take a note that suitable levels may not come immediately. Wait and watch before adding shorts.

BANK NIFTY – This index is convincing me that we may have very limited rise on higher side even after breakout situation it is not moving higher. Let us see how it trade today. My study and levels remains same.  Avoid present breakout now for long. It has definitely not displaying the kind of strength which I was expecting above 19200. Fine, as long as it is above 19200 I may not opt shorting. Well, but below 19200 I will definitely think to short this very seriously. Technically, 19600 may remain untested. We will see resistance emerging at each higher level. 



25 August 2016: Nifty Elliott wave analysis: Bullish formation Vs Bearish formation? Avoid trade on expiry day.

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

For 25 August 2016: -

niftyOn 24 August 2016: FII Net Sold – INR 39.28 Crs:  DII Net Bought – INR – 129.18 Crs

I normally do not trade expiry day and today it turn special to avoid. Nifty is forming narrowing wedge formation and this is definitely not a good situation. Market used to take unpredictable turn in all such moment. Market will face resistance at 8670-8700. In the lower side it will get support at 8600-8580. I strongly suggest avoiding such market.

For today’s trading session I am expecting market to open or flat note. After that it has higher chance of trading flat. If things favours then market can see a possible fall but this time I am giving possibility as 50-50 for bulls and bears each. If this market were looking for a fall then it should have given fall by yesterday only but it has closed on high point. This is showing that bulls are giving their best.

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 September future – We will see market opening above 8700 but I will not prefer to trade today. It is equally true that in normal circumstances it is said to be bullish but wedge formation is also alarming. Technical charts are suggesting for support at 8650- 8640 levels but support is too far. On higher side 8750-8760 is still achievable.

BANK NIFTY – This index is convincing me that we may have very limited rise on higher side even after breakout situation it is not moving higher. Let us see how it trade today. My study and levels remains same.  Avoid present breakout now for long. It has definitely not displaying the kind of strength which I was expecting above 19200. Fine, as long as it is above 19200 I may not opt shorting. Well, but below 19200 I will definitely think to short this very seriously. Technically, 19600 may remain untested. We will see resistance emerging at each higher level.

 



24 August 2016: Nifty Elliott wave analysis: Avoid long near top. Nifty can see a possible breakdown anytime today or tomorrow.

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

For 24 August 2016: -

niftyOn 23 August 2016: FII Net Bought – INR 0.19 Crs:  DII Net Sold – INR – 451.87 Crs

Yesterday a bounce came from 8580 but this is still not convincing that we are left with strength. We have lower high and higher low on chart which is called wedge formation at top. This is usually a sign of possible reversal in trend. We have derivative expiry of this month contract tomorrow. Market may turn odd anytime. I believe that this may go in favour of bears this time. If short covering denies then a fall is very much possible either today or tomorrow with a possible price target of 8500 or below.

For today’s trading session I am expecting market to open near yesterday’s low, if not then near 8600. If this can break and sustain below 8580 then we can see a possible sell off today. I have already issued a strong warning of “CAUTION” yesterday for bulls which will continue for today also.

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 September future – We will start near or below 8680.  We can see a possible support at 8640 levels. It is not easy to say if it can make or break. If it can sustain below 8640 then there may a big sign for shorting for a possible dip of 60-80 points very quickly. I do not say that one can chose option for trading long.

BANK NIFTY – Same levels and my study and levels remains same. Avoid present breakout now for long. It has definitely not displaying the kind of strength which I was expecting above 19200. Fine, as long as it is above 19200 I may not opt shorting. Well, but below 19200 I will definitely think to short this very seriously. Technically, 19600 may remain untested. We will see resistance emerging at each higher level. 



23 August 2016: Nifty Elliott wave analysis: Once again, avoid trading long till expiry. Technical support ofr Nifty is at 8600.

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

For 23 August 2016: -

niftyOn 22 August 2016: FII Net Bought – INR 300.50 Crs:  DII Net Bought – INR – 52.50 Crs

This dip from higher levels makes some sense before derivative expiry but we not able to draw a decisive point for correction. Technical charts are suggesting for price correction from the resistance 8700 to 8750 levels. Well, but we cannot specify a time line for this correction. This market has to go under correction or it may turn choppy. I want market to break lower as it is not breaking higher but this is just my desire. I do not see a technical signal yet.

For today’s trading session I am expecting market to open on flat note. My word of caution is still stronger for bulls. This is not a time to trade long on higher side as we have seen multiple time slip form higher levels. In the lower side if it can break below 8600 then we can see a good price correction. Will it come? It is not impossible. Let us see.

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 September future – We may have dull start but we may not get decisive start for the day. Technical resistance will emerge at 8710-8720. I am expecting a decisive price correction. I want to see the signal for start of correction. If this can happen then today may be the start day. Blow 8750, correction will begin.

BANK NIFTY – For Bank nifty my study remains same. Avoid present breakout now for long. It has definitely not displaying the kind of strength which I was expecting above 19200. Fine, as long as it is above 19200 I may not opt shorting. Well, but below 19200 I will definitely think to short this very seriously. Technically, 19600 may remain untested. We will see resistance emerging at each higher level. 



22 August 2016: Nifty Elliott wave analysis: Do not trade long on expiry week. A MINI correction is about to start.

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

For 22 August 2016: -

On 19 August 2016: FII Net Bought – INR 409.94 Crs:  DII Net Bought – INR – 106.19 Crs

I still stick on my point that we are almost near the top and a price correction. Market looks to head for better opening. This may not able to add strength to the market. I believe that Nifty will face massive resistance at 8700 or higher levels. It may max hit 8750 before a correction. so it may be in the position where risk can go just 1%.

For today’s trading session I am expecting market to open on positive note but if market remains up then I will prefer to avoid. We are on derivative expiry week. I will plan to trade short only for this week. My shorts may be introduced at suitable levels. Technically, a correction is deserved and wave charts are saying that time is very close. I am issuing a strong word of “CAUTION” for bulls.

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 August future – We may have dull to negative start but we may not get decisive start to trade. If market remains choppy then avoid today’s trading session. I am expecting resistance at 8710-8720 levels. If it does not make at high then a dip is possible around 8620 as a target. 

BANK NIFTY – It has definitely not displaying the kind of strength which I was expecting above 19200. Fine, as long as it is above 19200 I may not opt shorting. Well, but below 19200 I will definitely think to short this very seriously. Technically, 19600 may remain untested. We will see resistance emerging at each higher levels. 



19 August 2016: Nifty Elliott wave analysis: It may be dull end for the week but Bank Nifty is on breakout mode.   

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

For 19 August 2016: -

nifty

On 18 August 2016: FII Net Bought – INR 162.17 Crs:  DII Net Sold – INR – 14.42 Crs

If we see the charts on broader sense then one can see that it is almost of 78% retrenchment of long term fall which we have seen from 9100 to 7800 almost. I named this as long term corrective wave B on which I was extremely bullish from 8000. Although I picked many investment stocks in dip around 7000 levels. Take a note that I am still firm on my long trend as down only unless it really turn strong after crossing past all time high.

For today’s trading session I am expecting market to open on negative note as suggested by SGX Nifty. This may not be the time to trade as we have higher chance to see a choppy trade on higher levels. Technical trading charts are still bullish irrespective the signals from long term charts. How to trade today? One can expect resistance at higher levels. Trading support will be at 8620. I may prefer to avoid today’s market unless I get some strong signal to trade. If Bank Nifty supports then Nifty can extend as high as 8880 levels.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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 August future – We may have dull to negative start but we may not get decisive start to trade. If market remains choppy then avoid today’s trading session. I am expecting resistance at 8710-8720 levels. If it does not make at high then a dip is possible around 8620 as a target.  

BANK NIFTY – It has crossed above 19200 and shown better strength. It has almost gained over a percentage. This makes this index on breakout mode and hence I am optimistic about Nifty too. Charts say that as long as it is above 19200 we can a possible strength up to 20000 or some nearby levels. How will it come?  



17 August 2016: Nifty Elliott wave analysis: My conviction may be less but I will prefer to trade long only.  

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

For 17 August 2016: -

niftyOn 16 August 2016: FII Net Bought – INR 684.73 Crs:  DII Net Sold – INR – 108.98 Crs

This is definitely an odd pattern to trade where index used to get support at lower levels and equally facing resistance at higher levels. Well, this is part of trading life. Technical charts are still suggesting that we will live in same range. I am still optimistic for attempt for some more rises. My conviction may be less this time. Wave pattern is still giving some hint for rise and hence I have traded long in the last trading session.

For today’s trading session I am expecting market to open on negative note as suggested by SGX Nifty. Suppose market stay range bound near lower levels then I will not participate index trading for today. We have already traded long in the last trading session. My view is that we can expect support in the range of 8590-8550 levels. Market may use to see frequent pull back.  

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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 August future – I still use the word of optimism. Technical charts are advocating for some more bullish attempts. I bought Nifty future @ 8620 yesterday and booked my profit at 8665. It may be small 45 points but good enough for the day. Take a note that we will again get support at 8610 and the next support may be at 8580. Will I buy again?   

BANK NIFTY – I still repeat, unless it go above 19200 I prefer to avoid. My study remains same. It is saving support at 18400 by long way although recovery form bottom was not as good as nifty. Still, support is working so far. Technical charts are saying that if t saving 18400 then do not short. On higher side 18700 is a decisive level for bulls. If it breaks the resistance on higher side then we can expect another bullish attempt but that also may not be impressive. In all, this index is still not my favourite for trading. I focused on Nifty only. 



16 August 2016: Nifty Elliott wave analysis: Buying is suggested in dip for 8750-8800 as this week target.

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

For 16 August 2016: -

On 12 August 2016: FII Net Bought – INR 1203.71 Crs:  DII Net Sold – INR – 392.47 Crs

Current trading pattern favours bulls so much right now. It has saved 8550 and turned for the next bullish move towards 8900 as possible target. I have traded one long last week and I have planned to buy for this week too. I want some intraday pullback to add my long and I feel that we may get.

For today’s trading session I am expecting market to open on positive note. 8550 will turn out to be a good support for the week and 8630 will be good intraday support. On higher side it can hit 8750 levels by this week. I still suggest buying the dip on support and buying at the time of strength. Buying opportunity may come today or it may come tomorrow. Wait for right time to add buy. Do not opt shorting.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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 August future – I do not have any position now. Technical charts are still strong on long side. I will prefer to buy on support on intraday dip. Technical support will emerge at 8650 and then at 8610. I have planned to buy and hold for 2-3 days to get a good target. I will not buy on rise. There is no question on shorting in normal circumstances.  

BANK NIFTY – I still repeat, unless it go above 19200 I prefer to avoid. My study remains same. It is saving support at 18400 by long way although recovery form bottom was not as good as nifty. Still, support is working so far. Technical charts are saying that if t saving 18400 then do not short. On higher side 18700 is a decisive level for bulls. If it breaks the resistance on higher side then we can expect another bullish attempt but that also may not be impressive. In all, this index is still not my favourite for trading. I focused on Nifty only. 



12 August 2016: Nifty Elliott wave analysis: So far, 8550 support is working. If it works then small recovery is possible today before long weekend.

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

For 12 August 2016: -

On 11 August 2016: FII Net Bought – INR 608.35 Crs:  DII Net Sold – INR – 621.65 Crs

We got a low at 8540 on Nifty and then a bounce. It is encouraging pattern and hence I moved out of my short deals. Well, it is still not above 8600 and hence it is just my optimism and I have less support from technical to say a buy although I have added long in dip. If it can sustain above 8620-8630 kind of levels then we can expect some recovery.

For today’s trading session I am expecting market to open on flat note. It will take support at 8550-8540 levels. We may see a possible recovery at current levels. If things can sustain above 8620-8630 then we may see an attempt of revival. Remember, market will go on long weekend as we have holiday on Monday. Avoid trading on choppy moments. It may go choppy too.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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 August future – I came off my shorts and I have added long in dip. I am expecting a day of recovery today. Technical support is at 8590. On higher side it needs to see it sustaining above 8650 to say words of recovery. It may not be great trading day due to long weekend. Technical charts are giving very early sign of buy but it still requires more confirmation.

BANK NIFTY – It is saving support at 18400 by long way although recovery form bottom was not as good as nifty. Still, support is working so far. Technical charts are saying that if t saving 18400 then do not short. On higher side 18700 is a decisive level for bulls. If it breaks the resistance on higher side then we can expect another bullish attempt but that also may not be impressive. In all, this index is still not my favourite for trading. I focused on Nifty only. 



11 August 2016: Nifty Elliott wave analysis: It has broken 8600 and panic can start any moment now. Below 8550, it can hit 8500!!!

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

For 11 August 2016: -

niftyOn 10 August 2016: FII Net Bought – INR 412.56 Crs:  DII Net Bought – INR – 747.27 Crs

I have already warned for this fall. Nifty has broken below 8600 and now it is on the break of 8550 too. This may be first sign of profit taking. Option statistic is suggesting that fall can extent on follow. Today is the follow up day. If bears can able to give follow up of this fall then I am expecting a test towards 8500 levels sooner. It may come even by today. So far, global market is strong and saving Indian market.

For today’s trading session I am expecting market to open on flat note. If Nifty can break 8550 then we can expect market to extend its profit taking mode towards 8500 levels. On higher side 8600 may act as stiff resistance on rise. I am sensing that it has done medium term top. It requires more confirmation. If I am right then expiry can go around 8400-8300. Market looks tried for fresh rise.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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 August future – I am maintaining short from Monday’s higher levels of 8745 and since then I am sitting silent. I can just guide what shall be done for the day. My study is suggesting me that 8640 may difficult to cross now. If this happens then we can hope for a move towards 8530 sooner. It looks like below 8570, we can get those levels. In my view market has already entered in a mode to exhibit panic.

BANK NIFTY – This is also on expected way. Technically, failure of 19200 can cause 18400 and we are almost 250 points away form 18400. If market goes weaker again then we can expect the test of such levels sooner. It may hit 18400 by this week itself. It means it can come either by today or by tomorrow. Do not short from lower levels. If one wants then shorting can be done from higher levels only.   



10 August 2016: Nifty Elliott wave analysis: Near to 8750 resistance levels, market may not be safe for bulls. PANIC if breaks 8600!!!

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

For 10 August 2016: -

On 09 August 2016: FII Net Bought – INR 144.15 Crs:  DII Net Sold – INR – 610.15 Crs

Well, FIIs flow is slowing down and we are almost on resistance levels. Market is on crucial wave based resistance and this may be the time to consolidation with a down move. If I am right and market breaks 8600 then it may turn to be medium term top. I used to say that most top used to come near to policy day and it may be one such. So far, it is not so weak but weak enough to hold my short.

For today’s trading session I am expecting market to open on positive note to fate note. Keep your eye on 8600 levels which looks too far. If it can break 8600 then we can expect market to go lower and move lower. On higher side 8750+ levels may be tougher to cross. Well, what about the possibility of 9000 which I talked earlier? I am accepting that possibility is fading now. Remember, I was bullish from 8000 levels onwards. It’s too big rally with ease.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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.

To take good advantage join paid services.

Strategy for Nifty August future – I am maintaining short from Monday’s higher levels. We saw the dip yesterday but recovered in last hours of trade. I still believe that 8760-8765 will act as resistance for today’s trade. Market may consolidate but it may not go higher easily from current levels. Market deserves a short attempt but with caution. If it can move above 8765 then I will come off from my short deals. Confident sell will come below 8630 levels which is too far.  

BANK NIFTY – I do not have any take on it. It is on resistance and I do not think that it can show strength unless it go above 19200. Bank Nifty is my concern and it remains my concern. It has failed to deliver. This may be the reason that I am shy to hold my long. If market goes weaker then we can expect a decisive down anytime sooner. Technically, if it fails at 19200 levels then do not attempt from long from higher levels. Before RBI policy 19200 may be crucial and critical. 



08 August 2016: Nifty Elliott wave analysis: Today, high may be final. Expect a profit taking after gap up ahead of RBI monetary policy.

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

For 08 August 2016: -

niftyOn 05 August 2016: FII Net Bought – INR 435.63 Crs:  DII Net Sold – INR – 616.32 Crs

I have added long on Nifty future in the last trading session for just one gap up and which I believe that I will get today. 8710+ may the levels which may be on hunt. I will definitely give up my long with today morning based on my wave chart which I have uploaded. What kind of pattern in this? This is just a bulls attempt to break resistance.

For today’s trading session I am expecting market to open on positive note but higher levels will be dicey. Anything above 8710 may not be safe. I strongly suggest not adding fresh position above 8710-8730 levels. If rise has to come then risk-reward ratio may not in favour of bulls. Those who have added long on Friday or Thursday are on good note. We added on Friday.  8650 is a trading support. I am expecting market to see a dip either from 8710 or 8730 or from 8750. Let us see where will I give by long first.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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.

To take good advantage join paid services.

Strategy for Nifty August future – I have added long at 8660 and I am prepared to give up my long on this morning itself. Technically, 8750-8760 may be levels from where I may expect a dip. Farewell of Mr. Rajan tomorrow will not be great. I do not hope for any rate cut by him. Market may go nervous today and tomorrow. Bulls should stay not go buy buying today and tomorrow. Trading support is only at 8660.

BANK NIFTY – Bank Nifty is my concern and it remains my concern. It has failed to deliver. This may be the reason that I am shy to hold my long. If market goes weaker then we can expect a decisive down anytime sooner. Technically, if it fails at 19200 levels then do not attempt from long from higher levels. Before RBI policy 19200 may be crucial and critical. 



05 August 2016: Nifty Elliott wave analysis: As long as it is saving 8500, I am optimistic but it is the time to be extremely cautious.

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

For 05 August 2016: -

niftyOn 04 August 2016: FII Net Bought – INR 559.49 Crs:  DII Net Sold – INR – 527.11 Crs

Well, market has entered in the phase where it is not responding on good news. Yesterday’s trade was one such example. This kind of pattern used to come on top. I must say that it has technical support in the zone of 8500-8460. Medium term chart is suggesting that as long as it is above 8500-8460, up trend remains intact.

For today’s trading session I am expecting market to open on positive note but noting is sure after opening. It may react the same way like yesterday. Only good part is that it has saved 8500 levels and that is a hope. Technically, I am still on optimistic but 101% it is the time to be caution. Today is concluding trade for the week and this may not be good for bulls. if it move above 8580 then we can hope for revival.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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.

To take good advantage join paid services.

Strategy for Nifty August future – I am not participating on this dip although I have predicted this. Reason is simple that I do not want to be easily bearish on market. It is looking to take opening around 8630 as suggested by SGX Nifty and this will open the hope alive for bulls. It can save 8600 an sustain above 8640 then a move is likely towards 8700+. Be cautious as a bull too.

BANK NIFTY – Finally, it hits my feared levels of 18400 on the failure of 19200. It was concluded based on Wave chart. Now, support if it breaks 18400 then? Well, answer may be a pleasure for bulls. We can see further strong dip towards 18700 levels. It is looking like to face resistance at 18700-18800 for today’s trading session even on rise. 



04 August 2016: Nifty Elliott wave analysis: Today is “THE MOST DECISIVE DAY” on wave chart. A close below 8500 can spoil bullish formation !!!

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

For 04 August 2016: -

niftyOn 03 August 2016: FII Net Bought – INR 578.17 Crs:  DII Net Sold – INR – 800.75 Crs

8700 may turn to be critical. I am not following the news flow. GST or no GST but it seems that market has factored GST at this price. My call is simple that I will be hesitant as long as it is below 8550. Well, market may take a higher opening. I will plan to trade long only if it can sustain well at higher levels. If it fails then I must avoid trade just like yesterday.

For today’s trading session I am expecting market to open on positive note and then it may go here and there only. I gave a decisive support at 8550. As long as market is below this level, I do not think that it can go in favour of bulls in ways. Let us look at Elliott wave conclusion. On news flow day, it is giving a sign of top. Question is – Will 8700 remains untouched now? It should not be chances are fading now.

Today is “THE MOST DECISIVE” day.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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.

To take good advantage join paid services.

Strategy for Nifty August future – I have not participated yesterday and I have no great plan to deal today either in very first half. Technically, above 8620-8630 it can regain momentum but it will not be easier to cross those levels. Do not get trap on news flow. Wait for market to sustain then only to trade long. In any case if it gives close below 8550 today then it can destroy bullish formation.

BANK NIFTY – I used to say that this index was a threat and it turned reality. It has stopped the rising pattern on Nifty. Technically, 18400 is still a support. If it has to move up then 18400 must be saved. As long as it is saving 18400 we can hope for re-test of 19200 but all depends on today’s close. I must be a cautious buyer if I find enough signals to buy. 



03 August 2016: Nifty Elliott wave analysis: Nifty has decisive support in the range of 8580-8550. Wave based resistance is @ 8700 !!!

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

For 03 August 2016: -

niftyOn 02 August 2016: FII Net Bought – INR 536.27 Crs:  DII Net Sold – INR – 383.23 Crs

Elliott wave chart is showing for resistance at higher levels. The levels of 8700 are turning to be decisive. Technical charts are also justifying for resistance but this is too early to say that market will correct. I expect that it can just consolidate before giving next trigger for trade. Bank Nifty was my concern and it is still my concern.

My anticipation is that we may see levels of 8900 at least by this week before any final profit taking. In that way one should just think to buy in every possible dip. As long it is above 8550 kind of levels bulls are safer.

For today’s trading session I am expecting market to open on negative note and then it may go here and there only. if possible avoid trading unless it give some strong signal to trade. You must keep an eye on support levels of 8580-8550. I can hope that it will not break.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

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.

To take good advantage join paid services.

Strategy for Nifty August future – I have exited my long at 8700 levels which I bought at lower levels. I took a safer exit and then moved out of market as it was giving sign of weakness for trading. Well, it will open down today and hence I have no point to short. Well, I am not sure but I may opt to add long at lower levels with caution.

BANK NIFTY – I am keeping my study same for Bank Nifty. I was concerned for Bank Nifty and we saw a dip. I was worried about this kind of situation where Nifty try to sustain but Bank Nifty gave a dent. Technically 18700 is a support but I am advising strong caution in this zone. If this breaks 18700 on decisive note then 18400 will be next big support to talk about.