Nifty Update - 1st Sign of reversal seen yesterday while closing... Let book the profit on the Channel break today

Positive Divergence seen on the Hourly chart,
Price retraced almost 76.4 % from the top.

Let watch !!!

Nifty Update for 31 July - One of the important day to watch to confirm the trend in either direction

Today Nifty made a low of 5747.60 and close at 5760.85

Will Nifty Fill the Previous GAP between 5700 - 5749 or will it reverse the current down move?
- Few of the Important points to note and take the decision for tomorrow -
In Favor of Bears -
- Nifty still maintain the Lower High Lower Bottom formation on daily chart and no sign of reversal
- Moving Average - 10 EMA is touch or crossing 21 EMA; Tomorrow will confirm the exact clarity.
- RSI is not supporting for reversal.
- Tomorrow if price break down side and if try t fill the previous gap then there is more chances to reach to 5684.

In Favor of Bulls -
- Nifty is @ important level near 5750; made a low 2 points below then expected resistance of 5750 but close above 5760.
- Nifty retraced almost 38.2% of the previous up move from 5566 to 6093. Most of time price should reverse from the position.
- Also, Nifty price is near the Support line of the rising wedge.
In the past, Market always respects the 26 day time cycle line and Price always reverse from the 26th day ( +1 or -1 day) and tomorrow
is the day of the 26 day of trend reversal as shown above.
- A hammer at the bottom is seen in Hourly Chart after down move which is sign of potential reversal. Let watch

I always suggest to keep the strict stop Loss whenever you already in huge profit.
Lets Watch, All the best!!

Daily Chart :

Hourly Chart :

Nifty Update for 30 July - Continue to trail the stop loss 5920

Our Short initiation @ 6020, now almost 190 point profit in a just 3 days... What to do now ?
We don't know when market will take turn but we need to systematic approach to ride the trend. So please consider 5920 as stop loss. You can book the partial profit if you trade in multiple lot.

We can see in the below chart 5750 -5800 is the Resistance zone area for this down move from 6093.
Support should act as resistance now. If the nifty break below 5750 then there could chance of free fall.
But its very early to say as Nifty has to face series of resistance now.
Happy trading!!!

Yogi

As per prediction, Target Achieved for Nifty - update for 26 July 2013

As mentioned yesterday Nifty update, Prices falls below 5905. Also, it didn't respect the Lower Support line of the Channel which indicate Nifty turns into aggressively to down.
We already in the profit of 120 points on Nifty in 2 days.
Now the strategy is to keep trail the stop loss and ride on the bear market.

1st Target Achieved for DLF Call for 26 Jul 2013

1st Target Achieved as mentioned on 22 July Buy Call on DLF.
DLF price made a high 177.90 today reversed to open price. Keep the partial buying continue for 2nd target. Happy Trading!!!

DLF Buy Call 169
Partial Profit @ 1st Target - 9 points * 1 Lot (1000) = Rs. 9000/-

Nifty Update - 24 Jul 2013 - Profit booked

Nifty reached to our nearest to  our target 6093 yesterday. we have booked the profit on this level. Lets wait for the Short Call now.

Buy Call on 7th July @ 5850 

Booked partial on 19th July @ 6050

Sold completely on 23th July @ 6082

Profit - 232 points on Nifty. Happy Trading!!!

Nifty Update - Trail the Stop Loss - 23 July 2013

 It looks the up move(5566- 6057) strength is becoming slow day by day which indicate me corrective rally but still respect the stop loss level...  I will suggest here to Trail the Stop to 6002. Expecting Gap up action today to reach our 2nd target 6100. If it fails to do so, then please book the profits below 6100.

DLF - Buy Call - 22 Jul 2013

Buy DLF @ 169 with Stop Loss 162 for Target 178, 189

RCOM - Buy Call - 19 July 2013

Buy RCOM now trading @ 145 with Stop Loss 140 for  Target 156, 168

























Update - Stop loss Hits today 22 Jul 2013 @ 140

1st Target Achieved on Nifty, Book partial Profit and Trail the Stop Loss further

RCOM - Sell Call 14- July- 2013

RCOM - Sell below 142 with SL 145.50 For Target -135

Update - 19 July 2013 9:32am  - 
Call not activated as RCOM doesn't came below 142 as of now. 

Sensex Weekly View - Looks One more upside is still pending

Sensex Weekly view - 6th July 2013

Sensex Sharp reversal from 18,467 force us to relabel the chart as below and looks that one more leg is pending on upside. Lets us check ...

Nifty Update for 14- July- 2013

We are very accurate in pointing the breakout on upside as per the update given on 7- July. Nifty is made a high 6019 and close 6017 which is very close to our 1st target 6050. let us see if

Nifty reached to our projected target today or not.

Nifty Update 7-July-2013

Buy Nifty near 5850 with Stop Loss 5750 for target 6050, 6100, even more....
Suggested to buy on every dips till the stop Loss 5750. 5750 is the laxman rekha... Happy trading !!!

Perfect Elliott Wave Relationship in Nifty Downmove