30 September 2015: Nifty Elliott wave analysis: Shocking policy saves possible fall on stock market. A follow up takes will decide market direction. Will bank reduce cost of capital?

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

For 30 September 2015: -

On 29 September 2015, FII Sold INR – 1112.59 Crs and DII Bought INR 876.20 Crs

A good policy is the one which gives shocks. It means that good policy have to be the one which people can remember as make impact on economy as well as on the mind of the people. After a long it was first one such policy and presented by the one. His name is Raghuram rajan.  

Well, this kind of shock policy making is known to have a very risky affair. This policy may be useless if banks does not reduce significant rate to pass on to the costumer. So far, I do not see much action from banks except SBI and Andhra Bank. In my view RBI will go on wait and watch mode for next 5-6 months. Will banks reduce cost of capital for business?

For today’s trading session, I have simple take. I look for resistance again at 7900 to 7940 levels. Unless Nifty crosses above 7940 we cannot assume much impact moving forward. Today is the follow up day by funds after home work. If FIIs refuse to buy then result can be a fall again. No levels as of now.        

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Strategy for Nifty September future – I cannot say exactly how market will react. It depends on many factors now. It has typical resistance at 7920 and then at 7970 levels. Very soon market will digest this rate cut and it will go in parallel to global market.

S&P 500 (USA) – We got pause at 1870 levels. Is this fine enough to say for a mini bounce before further big sell off? Somehow charts are suggesting that some more fall might possible as of now. I am expecting a test of 1850 too by this week. Weak bounce may not have good trading opportunity. I predict for a phase of fear till fed finally act on rate hike. 

30 September 2015: Stock Chart Analysis for intraday: TATASTEEL, ANDHRABANK and MARUTI

TATASTEEL (201.40)

Buy above 205/SL 203/ Target 209-212|| Sell below 199/ SL 201/ Target 193-190

ANDHRABANK (67.55)

Buy above 69/SL 68/Target 71-72||Sell below 66/ SL 67/ Target 64-63

MARUTI (4682.30)

Buy above 4710/SL 4690/Target 4760-4800||Sell below 4660/SL 4680/Target 4620-4600

29 September 2015: Stock Chart Analysis for intraday: TATASTEEL, DLF and TATAMOTORS

TATASTEEL (209.25)

Buy above 214/SL 212/ Target 220-222|| Sell below 208/ SL 210/ Target 200-196

DLF (129.55)

Buy above 134/SL 132/Target 138-140||Sell below 128/ SL 130/ Target 124-122

TATAMOTORS (285.00)

Buy above 292/SL 288/Target 300||Sell below 282/SL 286/Target 270-260

29 September 2015: Nifty Elliott wave analysis: Any negative outcome of RBI policy can push Nifty in the range of 7600-7500. My long term target is 6500!!!

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

For 29 September 2015: -

On 28 September 2015, FII Sold INR – 650.01 Crs and DII Bought INR 505.59 Crs

I have already said that is it breaks 7800 in one-two days then a panic sell off is very likely. How it came? Today is RBI’s monetary policy review and market has factored some kind of rate cut, cannot say how much basic points. This suggests that market is ready for a dip.

Remember one thing that no one can deny that Indian market is sustaining below 7940 which is n-like of H&S pattern. Longer it sustain below 7940 higher will be threat for fall. I still stick on my price target of 6500 on Nifty.

For today’s trading session, we are going to see a big gap down. Then market will wait for RBI policy. If market takes policy as reason for further sell off then Nifty will trade in the range of 7500-7600 by today itself. I see today as “BACK TUESDAY”.     

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Strategy for Nifty September future – I was expecting this kind of odd trades. A fight goes between fear and optimism. Before fear won, it eat my stop loss on Nifty Future shorts but we still have long on 7500 Put which can give a better reward. Nifty Future may open around 7700. There is nothing much to trade after that but I warn for a possibility for Nifty to go negative by 200-250 points by close.

S&P 500 (USA) – It is hitting 1880 as expected. I have forecasted levels below 1900 on fed decision day. Here it is on. Now traders will feel heat for a move towards 1500-1475 on S&P. At one time I was thinking will this October go choppy but now it is giving all signals that it will be a big negative month. It may be hard to believe but one can expect levels below 1800 very soon in this month itself. 

28 September 2015: Nifty Elliott wave analysis: decisive short term resistance will emerge at 7940-8000. Trading resistance is at 7900-7940. Sell on rise mode.

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

For 28 September 2015: -

On 24 September 2015, FII Sold INR – 115.10 Crs and DII Bought INR 50.67 Crs

Expiry goes on better than expected note. Above 7850 makes the expiry dull on close basis for month to month. I cannot consider any good outcome from expiry day levels. Nifty will face resistance near to 7940. If it does not fall then this market will go choppy for next few weeks. Scope of fall is still alive.

Remember one thing that no one can deny that Indian market is sustaining below 7940 which is n-like of H&S pattern. Longer it sustain below 7940 higher will be threat for fall. Today will be the first day for the beginning for new derivative series. Most of the time, it used to be bad.

For today’s trading session, we may expect a soft to positive start but higher levels has least chance to sustain. Nifty will face resistance at 7900 or 7940. In the down side it may see some panic sell off again if it breaks 7800 which is very likely within one –two day.    

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Strategy for Nifty September future – We may expect some initial rise today. In the process of rising index one can opt shorting for a substantial dip. Nifty may not find it easier to move above 7940 levels if opens around 7900 also. No higher levels can be safe.

S&P 500 (USA) – It hit a low of 1908 on Thursday night before bouncing on Friday. Well, even after bounce it is not looking strong enough to say a buy. I still consider that US market will face resistance at higher side. Simple charting is suggesting that US market will face stiff resistance at 1930-1945 levels. Break below 1900 is very likely by this week. 

28 September 2015: Stock Chart Analysis for intraday: TATASTEEL, LT and CEATLTD

TATASTEEL (215.15)

Buy above 218/SL 217/ Target 224-226|| Sell below 213/ SL 215/ Target 208-205

LT (1462.45)

Buy above 1475/SL 1463/Target 1500||Sell below 1454/ SL 1463/ Target 1430-1420

CEATLTD (1273.55)

Buy above 1284/SL 1274/Target 1299-1310||Sell below 1259/SL 1269/Target 1240-1230

24 September 2015: Nifty Elliott wave analysis: Avoid trading on expiry day if it goes positive. Worse case scenario- 7720 may be on test again!!!

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

For 24 September 2015: -

On 23 September 2015, FII Sold INR – 1330.12 Crs and DII Bought INR 891.36 Crs

I exited my shorts when Nifty was trading below 7800 and that has given us a great save from odd intraday bounce. We are on expiry day today. We have no more position as forward. I usually do not like to trade a expiry day.

There is no great change in my short term and long term view. This market will face much resistance on higher side. Just like August and September one can expect another dip in the month of October too. I still say that September month is still better than what I was expecting. Based on wave chart 7300 and then 6800 will be a possibility for next month.

For today’s trading session, we may see soft opening. If global indices exhibit any kind of weakness then it will act as catalyst for expiry day for Indian market. In worse possibility yesterday’s long of 7720 may be tested. Only in that case we may opt to trade. If market trade dull to positive then avoid the day.   

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Strategy for Nifty September future – My fair expectation for expiry is below 7800. It may trade few points here and there but it should be around 7800 or below 7800. There is just handful of expectation for further up. Assume if it sustain below 7780 then it can open scope for 7710-7700. Can it go much lower?   

S&P 500 (USA) – Yesterday was a soft day in US market and there should not be any change in conclusion. US market has two more trading sessions. I still expect that 1900 is a possibility which I am talking since last Friday. Technical trading resistance is at 1950. Do not expect any easy recovery and hence it is of no great use to buy dip. 

24 September 2015: Stock Chart Analysis for intraday: GEOMETRIC, KOTAKBANK and LT

GEOMETRIC (135.00)

Buy above 136/SL 135/ Target 142|| Sell below 133/ SL 134/ Target 129-128

KOTAKBANK (658.65)

Buy above 664/SL 659/Target 675-680||Sell below 652/ SL 657/ Target 640-635

LT (1495.30)

Buy above 1502/SL 1494/Target 1524||Sell below 1486/SL 1494/Target 1470-1460

23 September 2015: Nifty Elliott wave analysis: We got violent dip as the impact of rising wedge. Expect more panic sell off towards 7540. nifty

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

For 23 September 2015: -

On 22 September 2015, FII Sold INR – 1052.24 Crs and DII Bought INR 378.26 Crs

Well, yesterday’s drop was indicated well by a rising wedge which I had mentioned from past few days. From nowhere indices dropped over 2% when traders were expecting 2%. If I am right then this sell off is just not about one day. It should see extension for at least three days in a row. This gives me a sense for fall till expiry day tomorrow.

Based on Elliott wave chart market under go in phase 5 for minute count. The most logical target will be a new short term low which means that 7540 need to be violated. Big question is when can this happen. Will it be by this month only? I still stick on my view that Nifty can hit 6500 irrespective of any possible recovery.

For today’s trading session, we may see flat opening to soft opening. If global situation goes worse then we can expect another round of panic sell off. Where is technical support? Do not break your head in that as many supports may violate sooner. I simply expect a break or test of 7540. Still, 250 points more to go.  

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Strategy for Nifty September future – We introduces our short from near to 7950 and it hit around 7780 by last minutes. One can expect resistance to emerge around 7830-7850 levels even if bounce comes. If panic comes then one can expect further 2% big dip. Get ready for heavy action for today and tomorrow.  

S&P 500 (USA) – This is a fine fall. We can digest with low of 1929 but I still expect that low for the week may go around 1900. I expect another heavy gap down today also although future may not indicate that. I still stick with my long term target around 1475-1500 levels. Even 100 points of bounce from any level may help to change the long term direction. Take a note that all that can happen by this year itself. 

23 September 2015: Stock Chart Analysis for intraday: TATASTEEL, TATAMOTORS and HINDALCO

TATASTEEL (220.10)

Buy above 223/SL 221/ Target 228|| Sell below 218/ SL 220/ Target 213-210

TATAMOTORS (315.80)

Buy above 318/SL 315/Target 324-330||Sell below 313/ SL 316/ Target 305-300

HINDALCO (73.20)

Buy above 74.50/SL 73.75/Target 76||Sell below 72.50/SL 73.25/Target 70

22 September 2015: Nifty Elliott wave analysis: 7900 holds and hope turn less for big fall. If not this week then market may undergo a period of choppiness.

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

For 22 September 2015: -

On 21 September 2015, FII Bought INR – 154.87 Crs and DII Bought INR 104.08 Crs

Based on pattern I still hope for a dip but time is running short. If market fails to fall by this week then we may go under a choppy period. It may be named as consolidation and it is hard to predict the outcome of consolidation as of now.

In some sense we can say that once again Fed decision to hold the rate has saved the market. Technical chart has a rising wedge formation which has lesser history of failure. I can conclude that fall may be unavoidable if it breaks and close below 7900 just for one trading session.

For today’s trading session, we may see flat opening. On higher side 8000 and 8055 will be the point of resistance. In the downside 7940 and 7900 will be the levels for support. We are in a short week and moving close to expiry. Last trading day of the week will be expiry day too.

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Strategy for Nifty September future – It almost hit 7900 in morning minutes but after that it moves higher for whole day. This has denied the possible weakness. I am not active on Nifty Future yet although I bought some put which is almost running on no cost. This is just a gamble. I may not opt to trade today also if market refuses to fall. Let this rising wedge pattern clear with conclusion.

S&P 500 (USA) – Post fed decision to hold rates seemingly sending another mode of choppy period if S&P failed to fall by this week. I still have some hope for movement for this week but time is running short. If this fails then we may undergo at least two choppy months ahead. Even if it turn choppy then also  long term trend is down. 

22 September 2015: Stock Chart Analysis for intraday: CEATLTD, PFC and TECHM

CEATLTD (1260.15)

Buy above 1266/SL 1256/ Target 1300|| Sell below 1244/ SL 1255/ Target 1230-1220

PFC (244.10)

Buy above 246/SL 244/Target 251-253||Sell below 241/ SL 243/ Target 236-234

TECHM (567.50)

Buy above 572/SL 568/Target 580-584||Sell below 563/ SL 567/ Target 555-550

21 September 2015: Nifty Elliott wave analysis: Unfilled gap and trade below 7940 will cause a move towards newer low of the month.

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

For 21 September 2015: -

On 18 September 2015, FII Bought INR – 643.51 Crs and DII Bought INR 415.09 Crs

I was just not comfortable with rise in market. In spite of significant premium loss on Nifty Put option, I prefer to hold. I got the desired reward in last half of the day. More important is the subsequent sell off in US market. A word of optimism says that RBI should cut its rate. Well, I do not expect such when monsoon goes bad to worse.

Based on technical chart I still feel that we are about to get a most unwanted pattern by bulls in the form of gap down. Here is condition – if gap down goes below 7940, it may remain unfilled. Below 7940, it can test 7850 too. If it closes in this way then expiry may happen at lowest point of the month. The low point of the month is 7540 so far.

For today’s trading session, we may see gap down. Do not prefer to trade long in dip. It may not be possible to expect easy recovery. Below 7940 it can hit 7850. Will it happen by just today only? Yes, it may be.

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Strategy for Nifty September future – Simple way is that below 8000 levels, it can hit levels of 7900. I had anticipated this on Friday itself. It looks like to happen in gap down. If this happens then we have reasons to believe for a move towards 7860-7850 also. Do not buy the dip.

S&P 500 (USA) – It hit a high around 2020 on Fed decision day and now closed below 1960. All just has happened in less than 24 hours. It is showing the desired and talked weakness by us earlier. Historically, last week of September is known to be the worse week of the year. Will it be again? It yes then I have reasons to believe for levels below 1900. 

21 September 2015: Stock Chart Analysis for intraday: TATASTEEL, HINDUNILVR and LT

TATASTEEL (228.10)

Buy above 232/SL 230/ Target 236-238|| Sell below 226/ SL 228/ Target 223-220

HINDUNILVR (797.85)

Buy above 805/SL 798/Target 815||Sell below 792/ SL 798/ Target 782-775

LT (1540.60)

Buy above 1548/SL 1540/Target 1564-1570||Sell below 1532/ SL 1540/ Target 1510

18 September 2015: Nifty Elliott wave analysis: It may challenge levels above 7940 but it may not sustain. No euphoric rise is expected even after ‘No rate hike’ by US Fed.

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

For 18 September 2015: -

On 16 September 2015, FII Sold INR – 337.27 Crs and DII Bought INR 423.81 Crs

It was believed earlier that if fed does not hike rate then global market would rally. Well, I cannot see any indices go in rally mode. This may be perhaps market sensing less conviction for pause mode by fed any further on long run. Before adding anything further I can say that US fed wants some idea situation for rate hike by use of so many conditions. Those conditions fulfilling in reality is just impossible. The way I feel is that no one wants to take a blame of rate hike. So, as of now it is indefinite period of zero rate.

Based on technical chart I still feel that recovery may go in last phase. Closer resistance is at 7940-7960 levels.

For today’s trading session, we may see just a little higher opening. I have few puts but just few days left for expiry. My idea has not work for big dip but I still advise caution from long at current levels. Even a small jerk in global market can cause further big sell off. This may come as soon as next week itself. Believe it that Fed has done its best.

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Strategy for Nifty September future – I took long on 7700 put from Wednesday which may gave up a big part of premium but I am on limited risk side. Looking on reactions on fed outcome I will decide for the next course of action. I still feel that market may not cross 7980 levels so easily so sooner. A negative close today will confirm for big dip next week.  

S&P 500 (USA) – It should be noted that it was straight 55^th Fed meeting which goes with ‘no rate change’. Well, it was just first such meeting when outcome came in favour of bulls but net result goes in favour of bears. This is what we said on Wednesday. Now, fed makes this meeting as no event but the way we saw sell off we can see brutal extension next week. I maintain my price target at 1900 in post fed meet days. 

18 September 2015: Stock Chart Analysis for intraday: HEXAWARE, AUROPHARMA and TCS

HEXAWARE (236.20)

Buy above 240/SL 238/ Target 245|| Sell below 235/ SL 237/ Target 228-225

AUROPHARMA (693.20)

Buy above 701/SL 696/Target 715||Sell below 688/ SL 694/ Target 675-665

TCS (2550.35)

Buy above 2565/SL 2555/Target 2580-2600||Sell below 2540/ SL 2550/ Target 2500

16 September 2015: Nifty Elliott wave analysis: Above 7880 it can challenge for 7940 but top will not sustain and closing may go negative.

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

For 16 September 2015: -

On 15 September 2015, FII Sold INR – 910.85 Crs and DII Bought INR 480.50 Crs

A small inverse H&S has formed on chart with n-line at 7850 levels. I gave resistance as 7880 for last trading session and we saw dip from same levels. Right now backed by rise in US market we may see a higher opening. If this opening comes around 7880 then we may see some attempt by market to stay higher. Based on Elliott wave theory I can say that this rise will not sustain by close. Now have a holiday tomorrow and this is something which came on some odd time. Friday can be a big big gap down.

Time is on and clock is ticking for the possible big dip. This kind of trading pattern used to come once in eight years. On broader view, Nifty is just making attempt to test to n-line again. Technically, failure of this will cause a dip towards 6500 levels. Remember, I am talking about big 1300-1400 points of wash out. Although, I used to trade long for trading then also, I cannot hide this fact.

For today’s trading session, we may see higher opening. This opening can take Nifty towards 7900-7940 if it can sustain tall above 7880. I strongly warn for caution at higher levels, especially near 7940. If it react at higher levels then closing may go in negative.

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Strategy for Nifty September future – I took long on 7700 put from yesterday. Even after gap up I have plan to hold by long on put. I am open to average it out to hold for Friday. We have ample profit from options in past two weeks. Nifty future has hurdle at 7940-7950. I strongly expect a reaction in second half which can give levels below 7800 too.

S&P 500 (USA) – It is coming close to 1990-2000 levels backed by bull’s optimism. Whole world is waiting for fed next meeting. I strongly feel that outcome should be negative for market. Take a note that I am not saying weather rate hike will come or not, I saying for just negative outcome. Chart patterns are shaping for a dip. By Friday, S&P can be below 1900 levels. 

16 September 2015: Stock Chart Analysis for intraday: HEXAWARE, TATASTEEL and GAIL

HEXAWARE (243.05)

Buy above 246/SL 244/ Target 250-254|| Sell below 241/ SL 243/ Target 233-230

TATASTEEL (229.15)

Buy above 233/SL 231/Target 238-242||Sell below 228/ SL 230/ Target 224-220

GAIL (290.05)

Buy above 293/SL 291/Target 300||Sell below 287/ SL 289/ Target 280-275

15 September 2015: Nifty Elliott wave analysis: Above 7850-7880, it may challenge 7940 but this may turn as a trap for bulls.

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

For 15 September 2015: -

On 14 September 2015, FII Bought INR – 58.75 Crs and DII Bought INR 183.90 Crs

A small inverse H&S has formed on chart with n-line at 7850 levels. Nifty has closed above this. Now we have two patterns, both are H&S but have opposite nature. This gives me a sense for another test of n-line. It may move more higher but all these moves are to confirm resistance. A resistance is at 7940 and then at 8000 levels. Fall is imminent.

Time is on and clock is ticking for the possible big dip. This kind of trading pattern used to come once in eight years. On broader view, Nifty is just making attempt to test to n-line again. Technically, failure of this will cause a dip towards 6500 levels. Remember, I am talking about big 1300-1400 points of wash out. Although, I used to trade long for trading then also, I cannot hide this fact.

For today’s trading session, we may see soft opening to silent opening. As long as it is above 7850 do not try shorting. One should wait for clear signal to trade. On higher side 7940 is something which looks as achievable but I am not participating on this move.   

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Strategy for Nifty September future – I have no position as of now. I am just interested to take a break if this market is choppy and I will try to plan for my moves just before fed decision. This market can be extremely volatile anytime. Do not think that fall is over. Well, as long as it is above 7850 I will not short but I am least interested in buying either. It looks like a trap formation with pattern.

S&P 500 (USA) – It is choppy to down as expected. I do not see any big reason to try S&P for this week just before US fed decision. How will it go ahead? I equally have a view for shorting index on the view of post fed decision. If nervousness has to come then it will favour bears. There is no point to add long. Based on chart, I can see the possibility of 1835-1800 in short term. 

15 September 2015: Stock Chart Analysis for intraday: TATASTEEL, SBIN and RELCAPITAL

TATASTEEK (241.80)

Buy above 245/SL 243/ Target 250-254|| Sell below 237/ SL 239/ Target 233-230

SBIN (235.25)

Buy above 237/SL 235/Target 242-245||Sell below 233/ SL 235/ Target 228-225

RELCAPITAL (353.35)

Buy above 356/SL 353/Target 365||Sell below 348/ SL 351/ Target 340-335

14 September 2015: Nifty Elliott wave analysis: 7850 levels are still a tougher resistance. Do not get tempted for buying in current week fall.

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

For 14 September 2015: -

On 11 September 2015, FII Sold INR – 754.27 Crs and DII Bought INR 411.43 Crs

Friday’s high was 7864 and then a close below 7800 again. This is just a retreat at 7850 levels on Nifty which is a quoted resistance. US fed will decide about rate hike this week. I am expecting some nervousness in market before mega event. You may ask what’s if hike doesn’t come. Well, firstly charts are not saying that. Secondly, even most optimistic people will not deny the possible rake hike sooner. If not now then next time but surely it is coming by this year itself.

Time is on and clock is ticking for the possible big dip. This kind of trading pattern used to come once in eight years. On broader view, Nifty is just making attempt to test to n-line again. Technically, failure of this will cause a dip towards 6500 levels. Remember, I am talking about big 1300-1400 points of wash out. Although, I used to trade long for trading then also, I cannot hide this fact.

For today’s trading session, we are going to see a silent opening. We will again see ample resistance to emerge at higher levels in the range of 7850. Below 7750 we can see some steep fall which will be a combination of off-loading by bulls and panic sell off.  

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Strategy for Nifty September future – Nifty September future may prove to be a wild one by expiry. For today’s session one can expect resistance at 7850-7860-7870 levels. In the down side 7760 may be crucial trading support. Below 7760 it can hit 7700 levels too. A soft hearted trader should not trade for this week.

S&P 500 (USA) – This is “the most” crucial week for US market and hence for global market too. I have two important resistance points for this week trading. One is at 1975 and net is at 2000. I may have a plan to add short on any one of these two figures. We must have some early signs and indication on chart for the timing of free fall mode. Do not get tempted at any level for this week if you are trying to be bullish. 

14 September 2015: Stock Chart Analysis for intraday: HEXAWARE, LT and BPCL

HEXAWARE (246.80)

Buy above 250/SL 248/ Target 255|| Sell below 245/ SL 247/ Target 240-238

LT (1602.95)

Buy above 1618/SL 1609/Target 1650||Sell below 1594/ SL 1604/ Target 1570-1560

BPCL (850.55)

Buy above 858/SL 582/Target 875-880||Sell below 845/ SL 851/ Target 830-825

11 September 2015: Nifty Elliott wave analysis: A bounce from 7700 will deserve a resistance at 7850. Some relief will come above 7850 but that will be “The Strong Points for CAUTION”.

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

For 11 September 2015: -

On 10 September 2015, FII Sold INR – 121.19 Crs and DII Bought INR 66.60 Crs

For yesterday I was expecting a fall and we got that. Good part was that it has not broken the low which it has tested on 25^th August, i.e. 7667. Eventually it has moved higher to name it has “U” turn. I exploited both moves using options. I strongly suggest that traders need to be very cautious from unwanted outcome for bulls. Patterns may looks for recovery but betrayal for bulls will be a possibility on every rise.

Time is on and clock is ticking for the possible big dip. This kind of trading pattern used to come once in eight years. On broader view, Nifty is just making attempt to test to n-line again. Technically, failure of this will cause a dip towards 6500 levels. Remember, I am talking about big 1300-1400 points of wash out. Although, I used to trade long for trading then also, I cannot hide this fact.

For today’s trading session, we are going to see a silent opening. We will again see ample resistance to emerge at higher levels in the range of 7850. Above 7850 it may give some relief to bulls but that will again be the sign of caution. At some suitable points I will add short.

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Strategy for Nifty September future – We took a long on Nifty 7900 call from 73 levels which has already closed at 120 levels. Now, I may opt to book profit on this trade and I may go on side wise mode rather than going to fresh long. Higher chance is that it will see betrayal at higher levels again. Do not stand with long on weekend.

S&P 500 (USA) – Well, I consider these moves as small attempt to save market by bulls. After few months people would regret why not they have shorted in the zone of 1950-2000. I still believe that bull’s attempt towards 1990-2000 is providing an opportunity to add short. Do take a note that before mega event of this decade, i.e. the September fed meeting, market may go choppy to nervous. I do consider this is going to be “THE most crucial fed meeting” and betting on outcome as “Negative” which can trigger 20-25% sell off. 

11 September 2015: Stock Chart Analysis for intraday: MARUTI, LT and TATASTEEL

MARUTI (4301.45)

Buy above 4320/SL 4299/ Target 4360-4380|| Sell below 4270/ SL 4290/ Target 4230-4200

LT (1615.35)

Buy above 1626/SL 1618/Target 1650||Sell below 1599/ SL 1609/ Target 1570-1560

TATASTEEL (240.20)

Buy above 243/SL 241/Target 248-250||Sell below 237/ SL 239/ Target 230-226

10 September 2015: Nifty Elliott wave analysis: How was 7840? A dot top and now prepare for drop. If it breaks 7700 then do expect 7540 again to be on screen.

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

For 10 September 2015: -

On 09 September 2015, FII Sold INR – 452.13 Crs and DII Bought INR 1194.58 Crs

I got my target at 7840 and being a disciplined trader I took my profit. It gave good money when traders were under panic mode and shorting market. Now near at 7840, we go long at 7600 put from 73 levels. I like to see where I can book this today. I am expecting something good.

We got two day of rally and today will be third day from 7540 low point of Nifty. If this market is bearish then we get 8^th day reversal on fall but for rise reversal may come either on 3^rd day or on 5^th day. As of now it looks like we are getting reversal on 3^rd day.

For today’s trading session, we are going to see another gap opening but this time it will be in favour of bears. One should expect support to emerge at 7700. If this support violate then we can expect panic mode to return. I am expecting some choppy sessions before fed minutes on 18^th September 2015.

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Strategy for Nifty September future – I booked 175 points on profit on my long trades then added 7600 put. If a thing goes in our favour we can expect this doubling. Well, as it can be gap down after a gap up then this pattern can again generate a sell. If this sells go wild. Yes it may but I may not be greedy to wait to book profit on put.

S&P 500 (USA) – I was expecting a resistance to emerge around 1990. Check the high for last trading session. It is on dot at 1988 and then a fall. What a fall was this? It fell from 1988 to straight at 1942. Those who were brave enough to short have got a great return. Technically, it can come around 1920 to 1900 levels. Take a note that charts are showing for 1474-1500 as target for medium to long term. 

10 September 2015: Stock Chart Analysis for intraday: DLF, TATAMOTORS and HINDUNILVR

DLF (122.50)

Buy above 125/SL 124/ Target 128-129|| Sell below 121/ SL 123.25/ Target 118-116

TATAMOTORS (344.90)

Buy above 350/SL 345/Target 360||Sell below 342/ SL 346/ Target 334-330

HINDUNILVR (803.05)

Buy above 810/SL 804/Target 824-830||Sell below 796/ SL 801/ Target 784-778