28 September 2016: Nifty Elliott wave analysis: Do not short from low before expiry. I may be off the trade near to expiry.

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

For 28 September 2016: -

niftyOn 27 September 2016: FII Net Sold – INR 155.76 Crs:  DII Net Bought – INR – 90.67 Crs

Well, we got a fall from higher levels again. I have already said that one should not short from lower levels. We got short from higher levels and it was fruitful short. If I am going right then I am expecting dip again. Have a look at low at yesterday’s levels. It was 8690. I have already forecasted for support at 8680. If it breaks 8680 then we can get some fruitful dip for bears. Will it come?

For today’s trading session I am expecting support at 8680 and this may be final before expiry. I must say that if market has to fall then it should fall today. We may not able to see fall tomorrow. I am very cautious towards my short deal before expiry. If I am saying that this is the beginning of wave “C” on long term wave count then 101% it will bring confusion. It’s just a hallmark.

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 October future – SGX Nifty is giving a hint for flat start. I am short from yesterday and I will close my short now. I may not be aggressive on shorting. It will not be aggressive on shorting from lower levels unless it breaks 8720 successfully. On higher side 8800 will be meaningful resistance. Let us see how it shapes before derivative expiry.

BANK NIFTY – Well, risk-reward was not favourable but we still see levels of 19500 and this is completion of one target. Now, if this can sustain below 19500 then we can able to see a crash towards 19300 – 19200 levels too. Technically, this sell may go greatly in favour of bears. Do not pick the falling knife.  



27 September 2016: Nifty Elliott wave analysis: Do not short from low before expiry. I may be off the trade near to expiry.

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

For 27 September 2016: -

niftyOn 26 September 2016: FII Net Sold – INR 206.40 Crs:  DII Net Sold – INR – 113.35 Crs

Yesterday’s low turned to be 8715 and this turns out to be very close to the decisive support of 8680. Will it hit or miss before expiry? I usually do not prefer to trade expiry days or nearby and hence I may opt to stay away from trading. I can participate only if I can get concrete signal. Well, this is my comfort zone to pick a trade.

For today’s trading session I do not have great clue where will this market open. I have few short positions which I will prefer to unwind. Technical support may emerge at 8680 levels and this may turn to be decisive. A recovery may hit if this support works. Traders must go on caution due to derivative expiry. Near to the support of 8680 and derivative expiry, I do not suggest much to trade.

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 – SGX Nifty is giving a hint for flat start. I am short from yesterday and I will close my short now. I prefer to make a switch to October month trade but I will prefer to go on wait and watch mode for some time.  One should check my twitter handler to see intraday updates. Revised levels will be updated.

BANK NIFTY – I am already off to my trade of short on this index as expiry is very close. I am just making my position lighter.   We may expect BANK NIFTY to crash near to 19500 but this is largely an expectation. It may take some more time to come. One must avoid shorting from lower levels. If one has not shorted on rise then there is no point to short at 19700 for just 150-200 points. Risk – reward ratio may not be favourable.

 



26 September 2016: Nifty Elliott wave analysis: A crucial expiry week – 8600 is still my expectation. Check my long term wave count.

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

For 26 September 2016: -

niftyOn 23 September 2016: FII Net Bought – INR 299.98 Crs:  DII Net Bought – INR – 496.14 Crs

Well, Nifty has not gone above its previous short term high of 8969 levels. Last week we have not seen anything above 8900 levels. Now, this is confirming that 9000 may remain untested in near term. I plotted long term wave count in my snap. One can go through that. Its manual wave count and I followed maximum possible rule for wave counting.

This is saying what I had projected many months ago. Read the last paragraph. The moment is gone above 8000, I said for levels near to 9000 and then a possible toppy formation. We are in the phase of confirmation.

For today’s trading session I am expecting market to open on weaker note. Now we are sitting with huge short from higher levels. We have stock future, Nifty future, Nifty option, Bank Nifty and what’s not. Well, I may prefer to light my position by today only in first half. I am expecting levels neat to 8780 first then we can expect 8740 levels. Can we expect 8600 by expiry? Not impossible.  

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 – From the levels of 8875, we have recommended short to our subscribers and added short me too. We have 8800 put also. I will prefer to unwind my partial position on gap down. If my shorts work then I can expect levels of 8740 too. Well, days are limited before expiry but I cannot close my possibility of hitting 8600 levels.  

BANK NIFTY – BANKNIFTY has suitable levels near to 20100 levels for adding short trades. Who even has added must light their position in today’s gap down? I still say that technical charts are governing target for 19500 levels. On higher side 20100-20200 may the stiff levels of resistance. I cannot deny bull’s attempt for revival at lower levels but we cannot say that it can sustain easily. Some of my subscribers has added short from 20100 levels.      



23 September 2016: Nifty Elliott wave analysis: DO NOT LONG. Nifty can turn weak below 8830-8820 support levels.

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

For 23 September 2016: -

niftyOn 22 September 2016: FII Net Bought – INR 336.87 Crs:  DII Net Bought – INR – 310.35 Crs

Just turn shy again at 8900 even after bullish gap up opening. Well, it has sustained with gain and this is well and good. Technical charts are still saying for resistance at 8900. In my view, we may expect that this may turn to be another trap. Global trend has governed trend on Nifty. From here till expiry market may give many surprises. I feel that upside surprise has already come and now it may be turn for surprises to come at lower levels. I must be clear that there is no such great signal and it is just my expectation.

For today’s trading session I am expecting market to open on flat note in spite of gain in US market last night. Technically if Nifty can break below 8830-8820 then only we can think for some meaningful fall. On higher side it has already developed resistance at 8900 levels which may not be easier to cross.

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 – Well, based on technical chart we cannot say that it has generated sell signal but we have such possibility. I strongly suggest avoiding long trade at these resistance levels. Technical charts are saying for the possibility of sell signal below 8840 levels. If it starts trading below 8840 then we can expect levels of 8780 in one go. Let us see what comes on last trading day of the week.

BANK NIFTY – I can say that if charts are right then zone of 20100 to 20200 may be the zone for shorting with small and suitable stop loss. Remember that we have RBI’s policy coming in few weeks and market anticipation is growing. Some geopolitical development may hamper market sentiments. My expected target may be near to the zone of 19500.     



22 September 2016: Nifty Elliott wave analysis: Consolidation will continue again in the range of 8850-8740 with opening at higher end. 

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

For 22 September 2016: -

niftyOn 21 September 2016: FII Net Bought – INR 183.85 Crs:  DII Net Sold – INR – 230.59 Crs

Market has moved on silent note in last trading session after giving up form higher levels. US market has moved sharply higher in last hour of trade. This can lead higher opening in Indian market. It just mean that Indian market is going to hit 8850 levels again which remains the higher end of the range. Decisive support remains at 8740 which is working so far. I am still anticipating that Indian market is looking tired at higher levels.

For today’s trading session I am expecting market to open on firm note due to gain in US market. Technical charts are still not suggesting for a move any kind of breakout situation as market may remain in this range itself. We will have derivative next week. I strongly suggest that traders should not participate in market at these levels after higher opening.    

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 have not got so firm signal so far now. Technical charts are still suggesting that market may remain in the range. It can take opening above 8850 but we cannot expect further gain. I expect market to retrench its gap up sooner. Strong caution is advisable at higher levels. Let us see how market react at higher side.

BANK NIFTY – It just came at 19750 and closed little higher. Technical charts are suggesting that market will still remain in the range. Market may see higher opening due to rise in US market. I have already said that 20200 is a resistance hence this will also be avoided after higher opening. This may be decisive up this time. We may get some sign of top formation now.    



21 September 2016: Nifty Elliott wave analysis: It can take some more time before a big dip. Trend reversal support on Nifty is at 8685.

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

For 21 September 2016: -

niftyOn 20 September 2016: FII Net Sold – INR 1146.93 Crs:  DII Net Bought – INR – 777.52 Crs

This down turn has got some silence but it has higher chance to head lower in coming days. Price charts are suggesting that a strong sell signal will emerge below 8685 and resistance is expected at 8855 levels. This range of 165 points may not give much opportunity to trade for direction although there may be many possible swings. Once it breaks 8685 then we may expect some unexpected levels. We are almost 90 points away form a decisive and trend reversal support.

For today’s trading session I am expecting market to open on soft note. I am quoting two important supports; one is at 8740 and next to come at 8685. Can we see the break of second? If yes then we can see a painful dip for which many traders may not be prepared. Well, at least do not trade long as of now on indices. If one wants to buy then one can opt stocks to trade long where one may get many options.

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 can still repeat that technical set up is favouring sell mode but we cannot say when will hit in big way. Before slipping in a big way it may turn range bound to choppy and may be one more bounce to wash out weak bears. I am considering this rise as an attempt by market to washout weak bears. Wait for a firm sell signal which will come below 8770.

BANK NIFTY – It is just here and there near 19850. If we can see break below 19750 on decisive way then we can see a possibility of 19500. Market may be optimistic about rate cut next months but those things may not be that easy. One must avoid any kind of positional long although we may get some intraday swings out of which many should be on short side.  



20 September 2016: Nifty Elliott wave analysis: Some dead movement is expected in market now. I will wait till the break of range.

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

For 20 September 2016: -

niftyOn 19 September 2016: FII Net Bought – INR 205.38 Crs:  DII Net Sold – INR – 252.28 Crs

Monday turn dull and we have not seen great follow up of trade. Nifty has closed above 8800 but somehow it looks to open below 8800 with this morning as gain was not so great in US market overnight. I am seeing silence in global trend. This kind of situation may not fit to trade. Well, I am still optimistic for short opportunity very sooner. I am intact with my price target of Nifty at 8600 levels.

For today’s trading session I am expecting market to open on soft note. This can lead selling if further weakness continues. I am seeing 8770 and 8740 as crucial support for the day. I am not on any trade after booking my 8800 put which may not be great decision as there may be gap down. My decision is based on time decay in second half on option.

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 can still repeat that technical set up is favouring sell mode but we cannot say when will hit in big way. Before slipping in a big way it may turn range bound to choppy and may be one more bounce to wash out weak bears. I am considering this rise as an attempt by market to washout weak bears. Wait for a firm sell signal.          

BANK NIFTY – I need to repeat that 20200 is most stiff resistance which gas failed in rise on Friday too. Technically, I am still hoping for market to hit levels of 19500 sooner or later. I am advising strong caution on this sectoral index. One can use higher levels plus weakness to add short for this week too. As I said earlier that if market is preparing for long term top again then we may have every chance to see steep fall this week, A decisive one. 



19 September 2016: Nifty Elliott wave analysis: My expectation is for the test of 8600 for once before expiry.

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

niftyFor 19 September 2016: -

On 16 September 2016: FII Net Bought – INR 660.59 Crs:  DII Net Sold – INR – 213.13 Crs

Friday was interesting trading session. It has followed the read map as suggested. We saw a high just above 8840 and then slipped to hit 8750 levels. Once it breaks 8750 we can expect rapid dip. Technically, this market is just not too weak to claim for another aggressive short. I posted the chart which is showing for the exact required gap fill. What should be next? I am feeling for a major fall on some day this week.

For today’s trading session I am expecting market to open in the flat note near 8780 and then we can expect immediate support at 8750. Real big trade on short side will emerge once it breaks below 8750 and sustain. We have ten trading sessions before expiry and my expectation is a test of 8600 for once. Can we get this? If yes then also it may not be that easy.

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 have added 8800 put opting near to most perfect levels in the zone of 60-55. I have not touched Nifty future yet for trade. If this favours the trading situation then I will prefer to trade short on any kind of rise. Market may slip over 2% at least this week. Technical charts has developed structure which is not favouring bulls at all.         

BANK NIFTY – I need to repeat that 20200 is most stiff resistance which gas failed in rise on Friday too. Technically, I am still hoping for market to hit levels of 19500 sooner or later. I am advising strong caution on this sectoral index. One can use higher levels plus weakness to add short for this week too. As I said earlier that if market is preparing for long term top again then we may have every chance to see steep fall this week, A decisive one.

 



16 September 2016: Nifty Elliott wave analysis: A gap up will bring 8800 on Nifty. A stiff resistance @ 8840 is applicable.

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

For 16 September 2016: -

On 15 September 2016: FII Net Bought – INR 345.42 Crs:  DII Net Sold – INR – 456.91 Crs

Yesterday turn to be third dead intraday session after a massive gap down. Now, for today’s session market is expected to take a gap fill up which I was expecting from past three days. I booked my shorts and goes on waiting mode. This rise came in line with technical cues. Technical charts were giving hint for a bounce towards 8800 which we will get today. Take a note that if market goes flat and dead at higher levels then we may see a formation of sell signal which can be stronger than the past one.

For today’s trading session I am not expecting market to open around 8780 and then immediate resistance at 8800 levels. I am expecting a test or cross of 8800 levels on higher side for once. My anticipation is for a firm sell signal near or before 8840. Note it very strongly that will 8840 it may be on buy mode. Friday is going to be very interesting.  

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 – Once again, we have not traded Nifty in choppy market. It is going to take a gap up and it can be a strong gap up. I am expecting a move towards 8860 if it can holds 8800+ levels. I am not sure if I opt trading long. Well, my prefer can be shorting from higher side.        

BANK NIFTY – A retrenchment towards 20200 can provide good opportunity to trade on short side.  It may not able to extend more on higher side. Technically, we can expect this move to go up and then it will create a short signal on higher side. Time is on for fresh bears but be cautious one need to conclude for top formation after gap up. I am least interested in buying this index. If I have to buy then Nifty may be my choice. 



15 September 2016: Nifty Elliott wave analysis: Sit side-line if market remains choppy. Do not be compulsive short seller.

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

For 15 September 2016: -

niftyOn 14 September 2016: FII Net Sold – INR 477.33 Crs:  DII Net Sold – INR – 8.53 Crs

After a massive gap down, market has traded flat for two trading sessions and refusing any recovery. Well, this cannot be sign of recovery although basics of technical analysis suggests for at least partial recovery to fill gap. So far, there is no such sign and hence I am sitting on side line for index activity. My view is that Nifty is bounce to hit 8600 sooner or later. May be this week or may be next week. It does not matter if it comes with a bounce or come with no bounce.

For today’s trading session I am not expecting anything great to happen on index. We can expect technical support in the zone of 8700 to 8675 levels. On higher side 8780-8800 levels is a zone of resistance. If market remains in range then just avoid Nifty for trading. We may get many stock specific reading activities. One must be note that this market is not good for long term buying as I am getting a hint that rise has done for now. It is long term corrective wave B which ended near 8950. So, a dip can be painful.

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 – Well, if you think by reading above that I will be a compulsive long then please hold on. Above was long term view for a consequence of wave B. For trading, we may have trading support at lower levels. Hence, I am not short for fresh from past two days. I shorted at 8930 and booked at 8760. Now, wait and watch for next trading opportunity. Short? Long? Short? Long? Short? Long? Short? Long?       

BANK NIFTY – As long as it is below 20000 to 20100, we can expect levels of 19500 but this is just a raw analysis. We need to refine with timing as timing in more important. I must say that 19500 will not come in one go or easily. So far, my view is that one can use higher end to short depending on market momentum as higher levels are assumed to be for shorting. 



12 September 2016: Nifty Elliott wave analysis: My “MOST WARNED GAP DOWN FALL” is about to come with Monday’s opening. Do not short fresh without bounce.

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

For 12 September 2016: -

niftyOn 09 September 2016: FII Net Sold – INR 315.24 Crs:  DII Net Sold – INR – 328.26 Crs

Last paragraph of my article remains the part of my study from past many months. I was bullish from levels of 8000 and remain bullish till 8750 then I suggested all that market may take time but will slip. 9000 may be the levels where we will face resistance and we saw exactly same moves. In the Friday’ trading session we had added shorts on Nifty Future finally after long waiting. We have added short on stocks future from Thursday itself. We have added 8500 put on Nifty. I like to see the price today.

For today’s trading session I am not expecting anything. Its all knows after seeing bloodbath in US market. If you do not have shorts then just log off the terminal. It is strongly advisable not to short in gap down. I suggest adding short on some strong bounce. This may be of 100 points on Nifty from low of the day.

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 – My effective short deal on Nifty future is from 8935 levels and I am about to get 200 points over night. My last deal on nifty future was on 24 August. I waiting so long and act on time. I may prefer to book my profit for once but I will surely plan to short on bounce. Let us see where can I book and where can I add short again.       

BANK NIFTY – It has is definitely going to break 20200 in gap down and I am expecting 19800-19600. I do not suggest shorting in gap down. If bounce comes around 20000 then it will be a short. I am strongly suggesting that market may head for intraday recovery after such brutal gap down.    



09 September 2016: Nifty Elliott wave analysis: Will Friday factor works for Nifty now ahead of physiological resistance of 9000?

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

For 09 September 2016: -

nifty

On 08 September 2016: FII Net Bought – INR 111.41 Crs:  DII Net Sold – INR – 587.43 Crs

It is facing resistance at higher end. This rise is stronger and it may just a pause seeing the momentum. Take a note that this has happened near 8700 levels too but market has advanced. Well, it may have greater chance of making a top around current levels but we need a good confirmation. What can be good confirmation? It may be a strong sell off or nearly 100 points in just one day. We are still missing such kind of day to name top as final top. A side wise market is not a sign of shorting yet.

For today’s trading session I am expecting market to open on flat note but situation is once again same. Nifty is likely to face resistance at 8960 to 9000 levels. I am seeing a possible reversal but so far it is my hope and I am unable to see good and concrete 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 am still inactive on Nifty future to deal. This sort of odd 30-40 points has no great meaning for trade. Technically, if Nifty September future can break levels of 8930-8920 then only we can able to see first sign of weakness form current levels. If not then we cannot think to trade long either. Today is Friday and let us see if Friday factor works.     

BANK NIFTY – I am no great take on bank nifty. It has surpassed 20000 marks and came near to 20500 kind of levels. Technically it may go near to levels of 20800 levels. It is banking index which is giving great push to blue chip index in past few trading days. There is no sign of topping yet. The momentum continues we can see levels of 21000 also very easily.  



08 September 2016: Nifty Elliott wave analysis: Today is eighth day from the low of 8542 levels. A reversal is very close.  

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

For 08 September 2016: -

niftyOn 07 September 2016: FII Net Bought – INR 854.06 Crs:  DII Net Sold – INR – 768.55 Crs

Nifty knocking the door for 9000 levels but this can turn as psychological resistance although it has technical meaning too. This market is not giving sign for top but top has to come at some point. If top forms around 9000 or before then we can see correction in a week time itself. This may come by next week. Momentum and money flow is key driver and that suggests that market may not give up so easily. Still I say one should avoid long. This is too dangerous level.

For today’s trading session I am expecting market to open on flat note but I am not in the position to say for up or down. This market can higher chance for truncation very soon. May be today or may be tomorrow or may be sometime next week. Remember, this may be wave based resistance which used to some near the completion of wave. If I am right then 9000 is the most crucial level for top. Today will be eighth day form the low of 8540. A reversal is likely to come.

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 – Once again, I am inactive on Nifty future deals. Time is very close for price correction but we cannot spot out a dat. We have higher chance of seeing a price correction by second half of September month trade. Technical support is at 8920-8930. If this can break then we can see possible price taking to begin. On higher side 9000 has yet to be tested?    

BANK NIFTY – I am no great take on bank nifty. It has surpassed 20000 marks and came near to 20500 kind of levels. Technically it may go near to levels of 20800 levels. It is banking index which is giving great push to blue chip index in past few trading days. There is no sign of topping yet. The momentum continues we can see levels of 21000 also very easily.  



07 September 2016: Nifty Elliott wave analysis: Again, now Nifty can extend its possible target around 9000 levels.

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

For 07 September 2016: -

niftyOn 06 September 2016: FII Net Bought – INR 1438.72 Crs:  DII Net Sold – INR – 268.21 Crs

Uptrend sustained from past six trading sessions. We almost saw 400 points of rise from the low of 8543 levels. It gave us perfect sense that steam has left in the market for uptrend. It may try to challenge 9000 levels too and this may happen by today or tomorrow. In this kind of momentum we advise caution at higher levels for bulls but equally this is not the market o trade short. It is just going to burn unnecessarily.

For today’s trading session I am expecting market to open on strong traditionally. Afterward it may try to challenge 9000 levels before reacting. Please the read the last paragraph which is the part of my article from past many months. I have quoted for the possible point for the end of long term wave B, i.e. it can be at 9000. So, I am just avoiding this kind of odd few percentages of rises. I am not claiming yet for correction but I wave goes the way I had anticipated earlier then after making a top our index will go under a correction and the intensity can definitely shock you.

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 have no point to say that any correction can hit this week. Market can either be up or choppy. I am avoiding these levels to trade on higher side on index especially while stocks are attracting me more. It looks like to hit 9000 levels or may be higher above this.   

BANK NIFTY – It has surpassed 20000 marks and came near to 20500 kind of levels. Technically it may go near to levels of 20800 levels. It is banking index which is giving great push to blue chip index in past few trading days. There is no sign of topping yet. The momentum continues we can see levels of 21000 also very easily.  



06 September 2016: Nifty Elliott wave analysis: Nifty is likely to knock 8880 levels. Strong caution is advised.

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

niftyFor 06 September 2016: -

On 02 September 2016: FII Net Bought – INR 231.19 Crs:  DII Net Bought – INR – 134.88 Crs

Nifty has closing at 8800+ levels in the last trading session. I have anticipated for two figures to be claimed as top, one is at 8820 and another can be 8880. SGX Nifty is giving a hint that we may visit levels of 8880 too. So as far as present pattern is concerned, nifty is on strong up trend. This was result of a consolidation pattern which has saved support of 8500.

For today’s trading session I am expecting market to open on strong to very strong note with all expectation of great outcome. Market will see a top formation from extreme of optimism. I am very sure that market will through a shocker to bulls this week. I strongly advise strong caution for overnight long position. I am not interested in participating in long trend. I will add safer instrument on short side via adding put option. Market may punish me to a little before rewarding.

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 – It looks like Nifty Future will open above 8900 levels. Well, then I have no point to suggest to trade on any further long. I will just maintain distance from market as of past few days. If I see weakness then only I can come for trade.  

BANK NIFTY – Slowly it is on the knocking door at 20000 levels. Today may be the day that we will see 20000 on bank Nifty but from here euphoria may end any time and may be at any levels. Technically, we may not have many things left on the table after 20000 levels. If it does not may a top here in few days then we may see brutal extension of this rally. In that case market will go extremely bullish with many unexpected target. I have no trade on this index. 



02 September 2016: Nifty Elliott wave analysis: Once again same view, from a high of 8820 we can see a profit taking up to 8700!!!

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

For 02 September 2016: -

On 01 September 2016: FII Net Sold – INR 301.51 Crs:  DII Net Bought – INR – 308.16 Crs

I have quoted for resistance at 8820 and that works. Nifty has failed on higher end but this is just not enough to say that market gave sell signal on daily chart. Well, but hourly chart has given a sell. I can repeat what I have said yesterday that Nifty can see a profit taking and may come around 8740-8700. I still believe the same. Today is the last trading day of the week.

For today’s trading session I am expecting market to open on soft note. Nifty will face resistance at 8820 levels. In the down side I see the possibility of 8740-8700. It just suggests that market may see a drop of 1% from current levels. Take a note that higher levels are a trap for bulls. Do not prefer to go buy mode at higher levels.

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 suggested for a sell signal yesterday at 8835+ levels. It took a fall but those came in just last 40 minutes of trade which I suggested a sell signal in morning minutes. This market was so dull at top. You can expect this kind of moves again. Below 8780, we can see a fall towards 8750-8730. Friday fever may give a sell.

BANK NIFTY – I am looking for a pullback possibility. It can see a profit taking which can drag Bank Nifty towards 19500 levels. It came with a high above 19800 levels and this is what I was anticipating once it is above 19200. It took an attempt to move towards 20000 levels. This may play a hide and seek game near 20000 levels. Do not prefer to trade long at higher levels. 



01 September 2016: Nifty Elliott wave analysis: From 8820, it should be a pullback time with possible target in the range of 8740-8700.

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

niftyFor 31 August 2016: -

On 31 August 2016: FII Net Bought – INR 854.19 Crs:  DII Net Bought – INR – 847.70 Crs

Nifty first wave were from 6826 to 7584 and that gave a possible length of 5 waves. Fibonacci retrenchment suggested that rally could extend to 261.8% of first wave and that 261.80% came on dot at 8819 which was yesterday’s high. Well, I am not saying that this is a sell signal but it is definitely a land mark resistance. It deserves a profit taking from this level.

For today’s trading session I am expecting market to open on soft note. Nifty can come around levels of 8750-8700 in the name of profit taking. I am expecting that Nifty should not go much beyond 8820 from now onwards and hence it will be a defined resistance. Indian market is on firm up trend but that doesn’t mean that correction will not come. This fall may be just the part of correction. let us see if this correction comes against the strong momentum.

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 was expecting 8840-8860 and we got that range too but there after also we do not see any great sign of profit taking. Market seems to be under consolidation mode although technical signal of a mild profit taking is on and it must get confirmation by today itself. Let us see if it comes or not. Market is running on with high risk-reward ratio.

 


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