Book Profit on L&T Call - Update on 11- Nov

Nifty is on the Channel Support - Expecting Breakout today

L & T - Possible Head and Shoulder Pattern

Due to Office work cannot able able to send the post since long time.
I will try to send the predication atleast one or twice in the week.
Happy Trading !!!

 

L & T FuturePositional Short Call ...

Nifty's Way Ahead - Digging out the Possibilities in Short term

Since last few days... Nifty is in cosolidation zone and not moving in either of the direction. It difficult to analyse in this consolidation period. But trying to find out the possibilities of the Nifty move ahead in the shorter term and possible targets......


Possiblity 1 - Wave B as an Triangle and Break down today .....

Possiblity 2 - Zigzag Wave Formation from Top 5833 as in ABC.

Possiblity 3 - Head & Shoulder Breakout

Possiblity 4 - Bullish View - Expanding Leading Diagnal

 

IFCI Future - wait for Traingle Breakout

Nifty Intraday Call - 40 Points profit in a 1 hour

40 Points profit in Nifty Future in just 1 Hour. NF made High till 5715. As per our target booked the profit @5710.

For More details .. Please refer below....

Happy Trading and Mint Money!!!

Yogi
Yog Money Asha

Nifty Intraday Call Update - 1:25pm

@1:25pm - Second Target Acheived. NF made a top @5715. Book profit Partial or all.
 If want to wait for 3rd target then trail the SL to 5675....
________________________________

Nifty Inraday Call Update - 1:00pm

@1:00pm - First Target acheived Now NF@ 5795... Hold and wait for 2nd target..... Trail the SL - 5660

________________________________

Nifty Intraday Call @12:35pm

Buy NF @5670 (Current Level) with strict SL - 5652 for Tgt - 5690/5710/5750.

________________________________

Nifty Inraday Call Update - 1:00pm

@1:00pm - First Target acheived Now NF@ 5795... Hold and wait for 2nd target..... Trail the SL - 5660 

________________________________

Nifty Intraday Call @12:35pm

Buy NF @5670 (Current Level) with strict SL - 5652 for Tgt - 5690/5710/5750.

Nifty Intraday Call @12:35pm

Buy NF @5670 (Current Level) with strict SL - 5652 for Tgt - 5690/5710/5750.
 

Target Aceived -- Update : Infosys Buy Call

Infy Future made a High 2571 near to our 2nd target 2574 and acheived our intraday target.  

I am still holding Infy as a positional call as Infy Daily Chart gives Positive Divergence.
Last time negative divergence seen on 21 sept and 3rd October, since then this is the 1st positive divegence on daily Chart.

In the morning i took the position since  i have observed the +ve div on the Hourly chart for intraday position and now since it reflects in the daily chart ... i am continue to hold the position for another 1or 2 days.
Let us wait and watch tomorrow's move.

Happy Trading and Mint Money!!!

Yogi
YogMoneyAsha


 

Infosys Buy Call

Buy call on Infosys @2489 SL 2458 Tgt - 2536, 2574, 2614.

 

Weekly Update for 8 Oct 2012

• As per the Hourly Chart seen above, for me it looks we have still in the 4th wave of the extension wave 5 of the 3 rd wave on the higher degree.
• So, i am still bullish as per above chart.
• But important support need to watch for this week is 5730, if this breaks then we can have support 5640 which invalidate the 5 wave extension as seen in the chart. Then it can assume that we have completed 5 wave of the 3 wave of  the c wave of the B wave on higher degree.
• But if Nifty 5640 breakdown then there have the strong support of the 5550.  
• If Price will not break the 5730 then it is dam sure that we are in the 4 wave of the wave 5 extension. same seen in the chart.
• Wave 4 could be the flat or triangle. mostly triangle as first wave is stiff down movement.
• If this is the same way happen then very difficult to trade in this week. Option will erode all the money for all option series except 5800 CE and PE.  
• Let us see how the prices unfold in the next week.... then we will get more clue to ride on the same.

Happy Trading!!!
Yogi
Yog Money Asha

Nothing to worry and Fear ... Nifty Down 90 points in first 35 min

Nifty Blasted and Drift Down 91 points in first 35 minute... But don't worry until it breaks below 5710 .... 5710 is lakshman rekha ....
 

Gap Up today as expected ..Also Cup and Handle Target Achieved Today

Time: 10:25am

As expected, Nifty is opened with gap up of 13 point today. We expected this yesterday itself immediately during market closing yesterday.

Also, We aceived target 5820 of the cup and Handle pattern seen yesterday on 5 min chart of the Nifty future. Refer the chart below....

 

Expects a Gap-up opening tomarrow 4/10/2012 .. Why? Details tomarrow ...

Cup and Handle pattern in 5 min chart of Nifty Future

Time - 3:20pm
If last candle close above this then Buy target for tomarrow. Tgt - 5810/20.



EOD - 3:40pm

Decisively Close the last candle above the blue horizontal line, so it will be the breakout for the 5 min chart .... we will see 5810-5820 tomarrow.

 

Beware of October 2012 - Sensex Moves

Beware of October 2012 -

• Maximum times sensex was down on October month in the history of 23 years.
• 1:3 ration fevers for Bears in October.
• Major Chances was downside on this year 2012.

How we should identify and get benfit from this ? 

• Currently, market is in the intermediate bull phase and making new top for every minor upmove comes.
• Momemtum indicator are showing negative divergence on the daily/hourly charts. This was initial sign of reversal.
• Also, as i mentioned in earlier post - this upmove rally is seen on lower volume.
• But when this reversal will happen ? Not sure, but i would expect the next week is the reversal week for this upmove.
• If we found reversal on the daily chart in the coming days of next week(1st week of Sept) then we should go for short position cosidering the Bear October.
• If you dont found reversal in the coming days. Don't attempt for Short.
• So, wait and watch and then act accordingly. (Sabra ka phal mita hota hai). 

Happy Trading!!!
Yogi

Short Term Buy Call - Bharti Airtel

For 27 Sept 2012 -
Buy Bharti Airtel Future near@263, SL - 260 for the tgt - 281.

 

Market reverse and on the way to 5th wave

As per expectation given in the last chart, market open the gap up and started its 5th wave on the upside. if we SGX nifty chart, its made bottom 5529 on 5min chart and reverse from there on the upside.

How long is this upside? not sure as of now but tgt looks as of now 5704/5730/5820...

Please note that this is the last wave up as per the bearish view in mind ...and market will reverse from that target to down towards 5200/4050 as an impulsive move.

Lets wait and watch!!!
Happy trading!!! 

Attempting to Evalute Correction and reversal point for 5th up wave ahead

Stop Loss Hits on the same day

Short Term/ Intraday Call

Buy nifty future @ current price 5610 and 5600CE @59.50.... with SL - 5599.. Tgt - 5634/5646/5660. 

Weekly Nifty Study Update - 15 Sep 2012

Weekly Nifty Study Update - 15 Sep 2012

I missed this fantastic upmove correcetive rally after covering my all long position due to lack of proper study. But nevermide, Share Market is the only place where you will get multiple opportunity to make money at all the times. For this only thing we want is wait, watch and grab the opportunity.
Shradhha and Subhuri ... Sai baba ki Jai....

Here is the my weekly study update -

Trend line, Channel, Elliott Wave Study -

*             Currently Nifty Close is 5573 and Made high @5593 as per Weekly Nifty LOG chart.

*             Last Candle Given Strong Breakout above the Channel , so expects  price will be move on upside if the this is not the false breakout. we should get the confirmation in the coming week.

*             Now there Price is enter into the strong the resistance zone shown in the above chart with upper sky blue lines.

*             It looks Nifty is still in the correction of the last up move rally from 2227 low to 6341 High. As per New wave analysis, Correction always take minimum same or more time than previous impulsive wave. Pink Vertical lines shows the period and 2 pink line is the same time which the correction wave should take minimum and maximum will the double of the impulsive wave time period.

*             As per the Elliott wave label, since we are in the correction, it has to be in the ABC pattern and i have labeled as per the above. So, Nifty is in the B wave right now and C wave down is still pending. So as per the Elliott wave analysis this is not the strong up move rally.

*             So, we can say that current rally is the c wave rally of the Wave B label in the Red Color.

*             What was the target for this internal C wave? Not sure .. But there are couple of resistance shown in the chart like.. 5580,5630,5650,5720,5850......

*             If Nifty reverse from this resistance then what was the Target for the C wave down? it could be the 4050, 3940, 3730....

*             Green Vertical line shows the period of the corrective move of Wave A (Wave A completed in 42 weeks) , And Equal amount of time is already completed on the path of B wave (now it is 56 weeks completed) ... so we should took the reverse path any time once the price target gets reached. but to be noted that Wave B can go till 84 weeks.

*             One more observation was the GAP in weekly chart seen in between 3721 to 3907 and this could be the target of Wave C down.

We will take a look now on the indicators for the weekly chart....

RSI -

 

 

*             RSI Showing the Strong Channel Breakout same like Price Chart.

*             Positive divergence seen on the RSI as RSI is move above the last high but price is still not break the last top price.

MSCD -

*             Positive divergence seen in the MSCD.

*             Currently, MSCD is moving into the blue channel. Price will get reverse or stabilize when MSCD reached to the upper trend line of the channel in Blue color.

STC -

 

*             Positive Divergence seen in the STC.

*             STC is already given SELL signal on overbought zone in the two weeks before but in the last week it looks it changing its path again towards overbought zone.

Volume - 

 

*             Decrease in  Volume seen in the Corrective wave from the last top 6341.

*             Check Last three Candle in the Price Chart and Volume Chart.. It looks me the Negative divergence.

*             Price Breakout seen on the Low Volume, so question comes in mind that whether this breakout is true or false?  Usually, Low volume High Price predict that the Low price strength and price should correct in coming days.  Lets watch ......

 

Nifty Study on Daily Chart -

*             As per the Elliott wave label, Nifty is in the Correction wave of B in red and b wave in Blue color.

*             After the X label, the move from 5628 to 4756 is the a wave unfolded as wxy three wave.

*             The move from 4756 till current is the process of b wave which have complex correction as wxy.

*             Y wave will have another abc inner wave labeled in small red color. and we current up is the c wave of Y wave.

*             Once the Y wave will get complete, Nifty will start Major rally of Down move as C wave in Red color.

*             Why i consider this current wave b is corrective wave (move from 4756 till now), because b wave in blue already took equal and more time than the previous down move of wave a and still wave a top is not breached.

*             What was the target for the c of b wave? There are couple of the resistance level mention in the weekly chart study.

*             In the current c wave, we are in the 3rd wave, so another up move still left till the resistance level mentioned.

*             No divergence seen on the RSI.

*             RSI is just entering into the overbought zone.

*             RSI is moving into the channel as seen in the daily chart above and still yet to touch the upper trend line of the channel.

*             No divergence seen on the MACD on daily chart.

*             MACD is in the positive zone.    

*             MACD is near the resistance of the trend line moving to the down.

*             STC is in the over brought zone.

*             No Sell signal found on the STC, so price can move up till the STC in the over brought zone.

*             Corrective wave b up move rally is having the LOW volume. So it's another confirmation that we are in the corrective phase. so in short, wait for the wave b to complete and then short    aggressively  for the C wave down which could be the stiff down movement. This signal we          will get on the month of October and November month. Let's wait and watch.

 

Nifty Study  - Hourly Chart

*             Hourly Charts of nifty shows wave c progress on the upside.

*             We can easily labeled the five impulsive wave on the upside and Nifty is in the 3rd of iii wave.

*             Whenever waves are in the impulsive move then we always found the gaps and the same seen as above hourly chart.

*             It is very difficult to say the target of this wave c as iii wave is extended one.

*             Currently wave iii is near to an end and corrective wave iv will start. so it is not advisable to long to play out the wave v. it's better to wait to complete the wave v (if wave v is not extended) /wave y / wave B, then look for opportunity to short for wave C.

*             If wave v is extended then we can look for longs to play for extended wave v otherwise wait for the wave B to complete as said above point.

*             Wait for the reversal signal to go short. Now this is not the time, so advice to wait and watch for to complete this up move and reversal signal on daily or weekly chart.

Happy Investing !!!.

Yog Money Asha

 

Covered All Long positions

Covered all my Long positions and will wait and watch for tommarrow move.
Nifty is on the support place where both (Long & Short) view can be possible, so i have removed all my position with minor profits.

My probable choice now was the Short as it looks we already completed B wave and C wave is ongoing which was the 5 wave impluse in downside. C1 and C2 is completed today and we are C3 which was the strongest wave on downside and hence tomarrow move will be strong move on the downside.

Upside possibility can't be ignore as Nifty is still didn't break the major support line. In the bullish scnerio we fill that b of B wave completed today and we are on the c of B wave. But this was less preferred one and b of B wave corrected more then 138% Fib ration which was rare case.  

Booked Partial Profit NF@5280 and 5300CE@68

Booked Partial Profit NF@5280 and 5300CE@68

Strong Buy NF@5255, Added few more Options 5300CE @58

Strong Buy NF@5255, Added few more Options 5300CE@58

I consider today Fall is opportunity to Add few more position as i still consider the Strong Bull Call.... Let's Wait and Watch... Daily And Hourly RSI still on the Support Trend line. If this break i will cover all my position....

 

Strong Call - Buy Nifty Future 5272 or Option 5300 CE @ 68

Positional Call for 2-3 days only ....
Strong Call - Buy Nifty Future 5272 or Option 5300 CE @ 68
SL - 5245, Target - 5350
 

Observation on RSI and Nifty Long term Chart - Update 2

Observation on RSI and Nifty Long term Chart - Update 2

Please refer the original 1st thread -

RSI and Nifty Weekly Chart - Update 1

 

Nifty Update - 29th August

Nifty Observation: -

Tomarrow is the expiry fot the August month. Today as well good move on downside But we have already removed all our short yeterday with good profit, so no worries.

Today I could observed the +ve Divergence with price on RSI, MSCD and Stocksticks Oscillator which tell me that tomarrow will be minor correction on upside and then move down near to the todays low as per EW label seen in the following chart.

So let us watch tomarrow move before going for any predication. But if nifty price is moving down and breaks the todays low @5288(LOG) then it could be the last wave count as a 5 wave. So it might be the good time to look for the + ve divegence on the Hourly chart to firm on our view that Nifty will correct the complete down rally from 5458 to tomarrows low. This correction in the form of ABC pattern on upside. So Lets Wait and Watch!!!

 

Covered all Positional Short calls today- Details.

Squared Off Exiting Position NF @5325 and Squared off 5400 put @ 78

Just now ... Squared off  Exiting Position NF @5325 and Squared off  5400 put @ 78 Big profit today ... Details later ....

EURUSD 23 Aug_Hourly - On the Right Track

Nifty Daily View - Support Tendline getting weaken

Nifty Daily View - Support Tendline getting weaken.

 

Observation on RSI and Nifty Long term Chart

Long Leg Doji on Daily Chart of the NIFTY

Long Leg Doji found on Daily Chart of the NIFTY which could be result the reversal of the last uptrend and will start down rally from tomorrow. This is valid only if price will not break the top if the Doji which was 5417(per LOG Scale Chart).

Details of the Doji Candle stick Pattern:

The Doji is a powerful Candlestick formation, signifying indecision between bulls and bears. A Doji is quite often found at the bottom and top of trends and thus is considered as a sign of possible reversal of price direction, but the Doji can be viewed as a continuation pattern as well.

A Doji is formed when the opening price and the closing price are equal. A long-legged Doji, often called a "Rickshaw Man" is the same as a Doji, except the upper and lower shadows are much longer than the regular Doji formation.

The creation of the Doji pattern illustrates why the Doji represents such indecision. After the open, bulls push prices higher only for prices to be rejected and pushed lower by the bears. However, bears are unable to keep prices lower, and bulls then push prices back to the opening price.

Of course, a Doji could be formed by prices moving lower first and then higher second, nevertheless, either way, the market closes back where the day started.

In a Doji pattern, the market explores its options both upward and downward, but cannot commit either way. After a long uptrend, this indecision manifest by the Doji could be viewed as a time to exit one's position, or at least scale back. Similarly, after a long downtrend, like the one shown above of General Electric stock, reducing one's position size or exiting completely could be an intelligent move.
It is important to emphasize that the Doji pattern does not mean reversal, it means indecision. Doji's are often found during periods of resting after a significant move higher or lower; the market, after resting, then continues on its way. Nevertheless, a Doji pattern is a great sign that a prior trend is losing its strength, and taking some profits might be well advised.

Nifty Weekly Update for 21 Aug 2012

Nifty Weekly Update for 21 Aug 2012:

Why I am preferring the Bearish view on Nifty?

*             As per EWP, Nifty had completed the 5th wave with 5 internal wave @5417(as per LOG CHART), If we consider bearish count then also we have completed the a-b-c(w)-(x)-a-b-c(y) @5417 pattern and Thereafter price started in the down move.   (only concerned here is that another a-b-c  complex pattern can be in effect as Z wave).

*             As per Daily Chart, Price breaks the Upmove Channel and heading down, which result the weakness in the current upmove.

*             As per the Candlestick Pattern, Long Leg Doji seen on the daily chart which act as reversal of the last trend (uptrend).

*             RSI and MACD indicator showing the negative divergence which looks weakness. Price is making new high but Indicator is not breaking its previous high.

*             Stochastic Oscillator shown sell signal on overbought zone and heading lower 80%.

If nifty will go down (bearish view) then what could be the targets for the downmove?

There could be many scenario can happen like diagonal pattern, contracting triangle,  or 5 wave impulsive down move.  Currently i will consider the 5 wave downmove if price will breaks 5181 and heading lower which is lower trendline support.

We will look for this as how the prices unfold further.

If tomorrow, prices are heading upward and breaks the top 5419 then still this view is valid till 5440 and this was the major hurdle for the nifty. I will change this view only after the price crosses 5440/5450 and moving higher.

Happy Trading !!!


S&P500 Index will start downmove as C wave

Took Short Position in Nifty Future @5419.

Took Short Position in Nifty Future @5419. SL - 5450 1st Tgt - 5324 (SureShot), 2nd Tgt - 5275, 3rd Tgt - 5170.   

Brought 5400PE Nifty Just Now

Brought 5400PE Nifty @42.50 Just Now. Target and SL later ... Strong Call.

EURUSD_14_Aug_Hourly

See How we are on the right track.... Let us watch further .....

Exit the Nifty Short position today @5332

Booked the short position profit today @5332. Total Profit 33 Points.
Also, Square off the Buy put call @58. Total Profit 7 points.
Very difficult to trade... Market is in the range bound...

 Lets wait for the next entry.

EURUSD_09Aug_Hourly

See How EURUSD is moving as per our last predictions..... 1st Target achieved but shortfall to 2nd target and starting retracement for the last up rally.
Then in the downmove exactly took the 1st support and now in the way to take 2nd support.
After taking the 2nd support @1.2271, we expect that it will start his upmove again which was the strong 3of3. Lets us watch. All the Best.

Took Nifty Short Position:

On Daily Chart, Nifty Future broke the yesterday low of 5345.5 and made new low @5332, and Close @ 5365. So as per bias theory, sentiment is negative.

So, as per the yesterday's and todays observation, I took the short position @5362. Similarly, Took Buy position in Put Option 5300 @50.90

All the Best!!!

Update 08 Aug:

Today Nifty is again moved up and made high 5393.55 but couldn't sustain and came down and close @5357.

Observation : -
On daily Chart, It showing the bearish candle stick pattern as Hammer at the top which was usually reversal point of the upmove rally.
Similarly as yesterdays said, there was strong -ve divergence shown in the RSI and MACD indicator.

This predicts to me that Nifty will start move down from here.. Let us watch ...

Update : Stay Short on Nifty

I felt that it was the flase breakout on upside. Nity future have broken the last high of 5358 and made new high as 5362 as per LOG chart.
On daily Chart, even if the Nifty break last top but RSI indicator is not break its last top, Predicts as Strong Negative divergence.
So, I still strongly feel that Nifty will start a move to downside as "C" as per the chart shown below.
Major Support Zone - 5164. If this support is not break then Our view will not be so bearish and we have to change the count. Let us watch !!!

Nifty Strong Short Call 08 Aug - Hourly

CMP Nifty future is 5334. Short Nifty here with 5350 as SL, Target will be 5270 (Immediate Intraday), Positional Target will be below 5000.

Study as below - Let us see How Waves unflod in the coming days...

EURUSD_03Aug_Hourly

Nifty Weekly Chart Report 7 July 2012

Nifty Weekly Chart Report 7 July 2012: -

Nifty future currently @ 5286

* Nifty is into the B Wave correction in upward direction and correcting the Down rally from High 6341 to Low 4534. 

*  On the movement of B wave, it looks nifty is already completed the wave a & b and we are currently into the  final leg of c wave.

* As per the chart,  we are getting the target below.

                *  as per the projection by ab wave, target will be 5849.

                * as per the C wave internal 123 Fibo level, target  will be 5870.

                * as per the Fibo time/price wise, target will be 5820 on 29 Sept 2012.

Back to the Blog again....

Target Achieved @nifty Future 4848. 51 point Gain. CMP Nifty furture is 4835

Nifty Intraday SHORT Call

CMP Nifty Future 4901 Short Nifty @4901 with 4917 as stop loss, For Target @ 4848.

Update: Buy Call of Nifty today 3 May 2012

Stop Loss Hits on 14 Points. Wait for next call.

Nifty Buy Call - 3 May 2012 10:23am

CMP Nifty Future 5212 with Stop Loss - 5198 for Target - 5280/5300/5320.  Risk Reward Ratio is 1:4

Update Nifty Analysis for 2 May Short Call

Nifty Intraday Chart 2 May 2012 - 15 min
* We are in the channel and looks as an Impluse as per the above diagram.
* Today we trade for c wave under 4 wave.
* If that was correct then in next 2 days we will see the 5 wave rally.
* In 5 wave, wait for the good trade that is inner 3 trade wave. we will monitor and update the blog accordingly.
* Happy Learning and Happy Trading!!!

Update: Nifty Short Call - Target Achieved - Gain 46 Points

CMP nifty Future - 5239. Target Achieved. Gain of 46 Points today. Cheers...

Nifty Short Call @10:56am 2 May 2012

CMP Nifty Future - 5295 Short Nifty @5295 with Stop loss @ 5312 for Target - 5240/ 5230/5220.

Nifty was down 2.25% today. What a good move? Nifty is on the expected path which we have predicted earlier .. Please refer the backdated the feeds for the same. Cheers...

Todays Target Acheived

Nifty Future Made a low 5225. Our call @ 5340. Fantastics 115 Points movements.
Even CMP Nifty future Price @ 5270. 5340 - 5270 = 70 Points Earns in itraday Call. Cheers!!!

20 Apr - Nifty Morning View

CMP Nifty future - 5340.

Nifty Open in Gap down of 15 points. Now trading @5340 while writing this note.
Price is coming down the support line and so i would expect the down rally on the nifty.
My Intraday Call is short nifty future @5340 for the target - 5315 with SL - 5348

Daily Nifty Analysis 19 Apr - Very Crucial Day tomarrow 20 Apr 2012

Nifty Analysis on 19 Apr 2012 - Daily WXWYZ form

·         This WXYXZ wave pattern is one of the possibility.

·         Strong point  - We looks X-Z wave inside is abc pattern and we are still in the b wave or it may got completed today, and it will move to c wave format which will complete the Z end point as per the EW wave.

·         RSI is given the Triangle Breakout which have the resistance @5400.

·         Weak Point – we have seen the breakout yesterday which was still holding today and end of day it moving in the upper side.

·         But also seen in the daily Chart the reversal candlestick bar on the top of the breakout which is the Hammer at the top. So, If nifty is moving the downside from the current closing price then we can assume the breakout of Wednesday is the false which was sustain on the same day.

·         So, Possibility is downside as per this assumption.

·         Lets us see on Friday 20 Apr 2012 which I feel the crucial day for the coming days for identifying the trend.

Nifty Analysis on 19 Apr 2012 - Daily ABCDE Diagonal form:

·         This is possible ABCDE triangle Diagonal Pattern.

·         Weak Point– It looks we are still in the 4 wave correction pattern. Pattern Beakout seen as false as price is reversed from the breakout.  So rare chance to move upward.

·         We are still not break the last high 5377 which was the D point. We are still in the E wave which was subdivide in the flat at inner side wave.

·          We might seen the gap down opening tomorrow and nifty slide towards down to E point which will complete the 4 Wave in the outer side.

·         Strong Point to move upwards – Nifty is already given the breakout Diagonal breakout and moving ahead which could find the resistance @5400.

·         5 min wave also shown downside as per the chart.

Overall – Even if it is the strong bullish sign, I will see strong Sell Sigh as well. So Tomorrow will be the crucial day for trend decisive for the next major move.

Daily Nifty Analysis 17 March 2012

Nifty is at very crucial stage as we will get to know the market move tomarrow.
As per the credit policy, reverse repo had a cut of 50 basis point which good news for the market today.
But as per Elliott wave we are still below the upeer trend line.
If Nifty opens above the trend line then we will see sharp upmove tomarrow as we are currently @ resistence level.
It looks to be we are still doing the abc pattern under B wave.
Let us watch tomarrow to get the idea of the next few days market move.
Happy trading!!!

Nifty Daily Analysis (15 Min Nifty spot Chart): CMP Nifty Spot – 5232.70

Nifty Daily Analysis (15 Min Nifty spot Chart): CMP Nifty Spot – 5232.70

·        As I mentioned in the 13 April Analysis, Nifty is in the C wave. C wave will 5 wave internal structures.

·        So, In the C wave have made the 1 wave target @5183.65 and complete day spend in making the 2 wave correction in the upper side. And I suspect this will be the end of 2 wave.

·        Why 2 wave completed – as 1) We have did the abc Flat correction. 2) 2 Wave retrace 38% of 1 wave. 3) Flat correction is in the proper channel and currently Price is  reached the resistance of the channel.

·        If tomorrow market opens and cross the resistance of 5235 then wave 2 will have different target. But I feel chances are less as the above reason.

·         Tomorrow is the Tuesday – a Big day usually heavy movement and it is important day as Monetary policy announcement.  So it is expecting the down rally if market open below 5160 as we will going to complete the 3 wave tomorrow.

·        Let us see tomorrow and watch. Happy learning!!!

Nifty Analysis -13 April 2012

1 Hour Nifty Chart – CMP Nifty Spot  – 5198.50

·        As predicted in the last communication, Nifty open Gap down in the next day but moving in the upper trend, which confirms that B wave have different target.

·        Accordingly wave b completed today (which is exactly 61% of wave a)

·        Currently Wave c is ON and have lower target between 5140 -5110. This will comlete the Wave E in the leading Diagonal. Also Wave (4) expected the same target.

·        And Wave (5) will begin from that. Let’s see how the Nifty will move in the next week.

Nifty Analysis for 10 April 2012

Nifty Spot Movement - 1 min Chart on 10^th April 2012: -

·

·   As mentioned in the last post, we may see the zigzag or Triangle today. There is triangle seen today in the blue line as per the diagram.

·        That way we have completed the b wave today. Tomorrow if nifty open up gap up then we will see b wave have upper target which I feel the rare possibility.

·        If nifty Open gap down which could be the major possibility tomorrow, then We will Nifty will down will try to make c wave.

·        This c wave will have 5 internal structures which might take next 2-3 days to complete. Target will be 5130-5120.

·        So, Lets watch for nifty level for next 2-3 days.

·        Happy Learning. Cheers!!!

   

Nifty Analysis 9 April 2012

Nifty Spot Movement - 1 min Chart on 9^th April 2012 but in Broader View: -

·        The above chart shows trend line in various colors but I would like to show that how the prices are taking the support and Resistance and acting as short term price or trend reversal.

·        These are actually Channels and Triangles. Nifty spot prices are moving inside the triangle shown in the RED color which I am looking at Ending diagonal pattern as per EW theory. Currently Nifty is in the E wave in the ABCDE pattern.

·        Ending Diagonal Pattern – All waves has internal 3 wave structure i.e abc

·        Ending Diagonal can be seen after the major moves (Specifically after 3 waves). Ending Diagonal usually seen in the 4 or 5 Wave of the Impulse 5 wave pattern. But it is not necessary as book say it can be observed in the B wave of the corrective 3 wave pattern.  

·        So where we are now and where Nifty will go tomorrow or in the rest of the week.

** As per the chart we are in the E wave which again expecting 3 wave corrective (abc) pattern.

** Today We have completed the a wave. Why a wave completed?

     As we retrace 61% of D Wave.

     As we completed 5 wave internal structure of a. Also, another possibility came up that since a is the 5 internal structure then we will should see the zigzag or triangle pattern.

    Now since we have completed a, it should correct to upward and has to made b which I am assuming 5380/5300/5320.

    Then, price should reverse from wave b and has to make C in the down word direction. C and E target has to be same approximately 5130/5110.

·        Let’s watch tomorrow’s movement. Happy Learning!!!