30 November 2015: Nifty Elliott wave analysis: One can still expect rise if Nifty maintains levels above 7940. Probable target is 8000.

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

For 30 November 2015: -

On 27 November 2015: FII Net Sold – INR 519.25:  DII Net Bought – INR – 900.48

Close near 7940 is still in favour of bulls. I have already quoted that this is n-line of H&S pattern but here comes a possible buy emerging on MACD. This makes me to believe for a bullish week. This may be volatile but overall trend seems to be bullish only. Based on charting above 7900-7940 levels we may think to get 8000 levels on Nifty.

For today’s trading session, I am expecting market to open on silent note. As long as it is standing above 7920-7900 we can hope for rise. My first probable target is 8000 on Nifty. It may come today or tomorrow. This market is buy-in-dip for trading.

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Strategy for Nifty December future – Nifty Future may not open on positive note but we can see buying coming from lower levels again. On higher side if it can sustain above 7990 then one can see this instrument moving towards 8020-8030 levels.  

S&P 500 (USA) – It is dead as expected and I do not change my study. This is not so good as per trade near 2100 is concern. It may advance or it may not advance and that’s the reason I do not used to buy at 2100 levels. Technically market is still in no trade zone. As long as it is above 2070-2060 we can say this level to hold. On other side it can see a possible dip from higher levels. It seems that recovery has done but that’s my speculation only. 

30 November 2015: Stock Chart Analysis for intraday: LT, RELINFRA and LUPIN

LT (1365.00)

Buy above 1375/ SL 1367/ Target 1400||Sell below 1357/ SL 1365/ Target 1340

RELINFRA (431.95)

Buy above 435/SL 431/ Target 448|| Sell below 426/ SL 431/ Target 418-415

LUPIN (1812.70)

Buy above 1818/SL 1809/Target 1836-1848||Sell below 1799/SL 1808/Target 1780

27 November 2015: Nifty Elliott wave analysis: December series may open on good optimistic note. Technical support for the day is at 7850.

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

For 27 November 2015: -

On 26 November 2015: FII Net Sold – INR 398.10:  DII Net Bought – INR – 948.98

This is an optimistic expiry for bulls. FII has not participated long in cash market yet. Still closing near 7900 is good so far. Technically, as long as Nifty is standing above 7850 we can expect this rise to extend around 7940 which is my target so far on up side. Closing above 7940 will generate a trading break out situation. Have a look on MACD which is close to give a buy. Remember, a buy at n-line may not be greatly reliable. If you look at broader sense then we can see a range bound market only.

For today’s trading session, I am expecting market to open on silent note. As long as it is standing above 7850 we can hope for rise. For the day I have view for long on selected stocks specially auto. I have already picked M&M and Tata Motors from Diwali day. For index trading one can think to buy dip.

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Strategy for Nifty December future – Nifty Future may not have great trade for today too. Opening may go around 7930 but afterward it may give up a good amount of premium compare to spot levels. Technical support is at 7900 levels. On higher side one can think to buy if it can stand well above 7950.

S&P 500 (USA) – It is dead as expected and I do not change my study. This is not so good as per trade near 2100 is concern. It may advance or it may not advance and that’s the reason I do not used to buy at 2100 levels. Technically market is still in no trade zone. As long as it is above 2070-2060 we can say this level to hold. On other side it can see a possible dip from higher levels. It seems that recovery has done but that’s my speculation only. 

27 November 2015: Stock Chart Analysis for intraday: RELIANCE, RCOM and TATAMOTORS

RELIANCE (988.65)

Buy above 994/ SL 989/ Target 1005-1015||Sell below 982/ SL 988/ Target 970

RCOM (74.55)

Buy above 75.75/SL 75/ Target 77-78|| Sell below 73/ SL 73.65/ Target 71-70

TATAMOTORS (424.40)

Buy above 428/SL 424/Target 435-440||Sell below 417/SL 422/Target 409-405

26 November 2015: Nifty Elliott wave analysis: I am changing my expiry day target. It can dead flat near 7850 itself.

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

For 26 November 2015: -

On 24 November 2015: FII Net Sold – INR 540.12:  DII Net Bought – INR – 532.13

We have derivative expiry today. Past three trading sessions has not moved much from 7850 levels. This is showing enough confusion amongst trading direction. This may go against the possible big move on expiry day. I am expecting a dead flat expiry with majority of move to come in last hours of trade. Even if 7800 or 7900 has to come then also it may come in rapid quick trades. I suggest limiting yourself from index trading.

For today’s trading session, I am expecting market to open on positive note. Afterward we may not see any move on either side till noon session. Technical support is in the zone of 7820-7800. On higher side 7880-7900 may act as stiff resistance. As opening may come around 7850 so the deal on expiry goes 50:50.

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Strategy for Nifty November future – Nifty Future may not have great trade in choppy days. Technical support is still at 7820-7800 levels but equally there are signs for the break of this support. If it opens around 7850 levels then it may go in no trade zone. I will touch December future from today onwards and levels will be updated during trading hours.   

S&P 500 (USA) – It is dead as expected and I do not change my study. This is not so good as per trade near 2100 is concern. It may advance or it may not advance and that’s the reason I do not used to buy at 2100 levels. Technically market is still in no trade zone. As long as it is above 2070-2060 we can say this level to hold. On other side it can see a possible dip from higher levels. It seems that recovery has done but that’s my speculation only. 

26 November 2015: Stock Chart Analysis for intraday: RELIANCE, ITC and LT

RELIANCE (967.70)

Buy above 971/ SL 965/ Target 980-985||Sell below 959/ SL 965/ Target 945-940

ITC (335.90)

Buy above 338/SL 336/ Target 345-346|| Sell below 333/ SL 335/ Target 328-325

LT (1341.55)

Sell below 1330/SL 1339/Target 1310-1300||Buy above 1352/SL 1343/Target 1370

24 November 2015: Nifty Elliott wave analysis: Possible derivative expiry can go in the zone of 7760-7740 levels.

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

For 24 November 2015: -

On 23 November 2015: FII Net Sold – INR 35.37:  DII Net Bought – INR – 90.28

A typical trade came at crucial level of 7850. Worse part is that this choppy move came just before derivative expiry. I feel that with a high at 7905 one wave of rise has done for trading and next move is looking to be down. I have a expiry target in the zone of 7760-7740 levels which is well 100 points down from current levels.

For today’s trading session, I am expecting market to open on silent to negative note. Technically the downside support is still at 7825-7800 for the day too. If this support violates then we can see a rapid 50-60 points of fall. Bulls may not find things greater.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – Nifty Future may not have great trade in choppy days. Technical support is still at 7820-7800 levels but equally there are signs for the break of this support. This can give a chance to trade on short side. I am not on long for the day and I will search for the possibility of trading short side.  

S&P 500 (USA) – This is not so good as per trade near 2100 is concern. It may advance or it may not advance and that’s the reason I do not used to buy at 2100 levels. Technically market is still in no trade zone. As long as it is above 2070-2060 we can say this level to hold. On other side it can see a possible dip from higher levels. It seems that recovery has done but that’s my speculation only. 

24 November 2015: Stock Chart Analysis for intraday: TATASTEEL, ITC and RCOM

TATASTEEL (224.45)

Buy above 228/ SL 226/ Target 232-234||Sell below 221/ SL 223/ Target 218-215

ITC (337.25)

Buy above 341/SL 339/ Target 345-346|| Sell below 336/ SL 338/ Target 332-329

RCOM (65.10)

Buy above 66.50/SL 65.80/Target 68-69||Sell below 64.25/SL 65/Target 62-61

23 November 2015: Nifty Elliott wave analysis: After 7900 done, expect a choppy week ranging between 7800-7900.

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

For 23 November 2015: -

On 20 November 2015: FII Net Sold – INR 94.09:  DII Net Bought – INR – 610.16

I talked for 7900 levels last week and we got this level Friday. Afterward we saw a sharp price correction in last hour but closing still goes above 7850 levels. So the support of 7825-7800 is still valid for this week. Remember, we are on derivative expiry week with one holiday on Wednesday. This may makes market jittery. I am expecting a choppy week and range may contract.  

For today’s trading session, I am expecting market to open on silent to positive note. Technically the downside support is still at 7825-7800 for the day too. On higher side it will try to achieve for 7900+ levels. I opt to trade on buy in dip for first half of the week.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – Try to reserve trading activity on index. This week may not be great. Firstly, range should be small secondly, uncertainly rule before expiry. If I have to guess for expiry closing levels then I can say that it can be here and there near 7850 itself. For today’s trade, try one long in dip for intraday.

S&P 500 (USA) – It hit a high at 2097 and then closed at 2089. It is just confirming the resistance of 2100 levels. I must say that I never try to be bullish at 2100 levels. I still believe that some more rises may come early this week itself. If market has to correct then it will go under correction in last part of the week. I am not reasons to be on short side right now. There may be a possibility of 2110 too. A 1% rise from Friday’s close may left on chart. 

23 November 2015: Stock Chart Analysis for intraday: RELIANCE, M&M and DLF

RELIANCE (946.85)

Buy above 952/ SL 945/ Target 962-967||Sell below 939/ SL 944/ Target 928-924

M&M (1315.25)

Buy above 1325/SL 1318/ Target 1340-1350|| Sell below 1304/ SL 1312/ Target 1290-1285

DLF (102.25)

Buy above 104/SL 103/Target 108||Sell below 99/SL 100/Target 95-93

20 November 2015: Nifty Elliott wave analysis: Expect another positive day to close week on good note. Decisive resistance is 7860-7870.

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

For 20 November 2015: -

On 19 November 2015: FII Net Sold – INR 343.18:  DII Net Bought – INR – 233.82

We got a perfect reversal in trend. There is still one thing missing. Nifty needs to move above 7860. If this happens then we can expect some good up move. Good part is that Nifty has closed above 7830 and this may itself be a trigger. One must note that this is a pullback towards n-line again on long term chart.

For today’s trading session, I am expecting market to open on silent note. Global market is silent right now after two days of rise. Technically as long as Nifty is above 7800 levels we can expect rise anytime. Today is the last trading day of the week and we have derivative expiry next week. We may get a short covering rise. Will this come?

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – Positive divergence is still on play. Based on technical chart, Nifty Future needs to go above 7880 levels to claim for further gain. I hope for this to happen. Technical support is at 7800-7990.

S&P 500 (USA) – This is a silence but good part is that this silence is above 2075 levels. This makes sense for bulls. I still believe that sell signal may not come sooner. I was bullish for this week and today is last trading day. As long as it is above 2075, bulls are safe. Equally I do not buy S&P at or above 2100 levels. Let us see how it shapes to close on weekly note. 

20 November 2015: Stock Chart Analysis for intraday: DRREDDY, M&M and HCLTECH

DRREDDY (3281.10)

Buy above 3305/ SL 3280/ Target 3380-3400||Sell below 3261/ SL 3285/ Target 3220

M&M (1292.10)

Buy above 1301/SL 1291/ Target 1330-1340|| Sell below 1274/ SL 1284/ Target 1250

HCLTECH (873.95)

Buy above 880/SL 874/Target 900||Sell below 864/SL 870/Target 856-850

19 November 2015: Nifty Elliott wave analysis: A reversal of yesterday’s fall is coming. Support at 7680 and expect 7800+

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

For 19 November 2015: -

On 18 November 2015: FII Net Sold – INR 768.46:  DII Net Bought – INR – 759.26

Yesterday’s slip from top was something which I was not anticipating. I am taking this as a wash out mode for weak bulls. As of now SGX Nifty is up by 70 + points. This is showing that market may try to attend the higher levels again. I am definitely not short. In between market has picked auto stocks as out performer. I am betting on auto stocks for a good rise if recovery continues. This is short term call.

For today’s trading session, I am expecting market to open around 7800 levels. If it stands well above 7800 then we can again expect market to retest 7860 and then 7900 again. One should note a positive divergence emerging on RSI. Market took a dip on global concern as people say but I do not see anything changing big in just one day.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – I still say that it is not a good way to short on positive divergence. If Nifty future opens on positive strong note that it will not give any chance to bears. Let us see if opening goes above 7800 and then can it able to sustain. If this happens then today may be a big positive day to reverse yesterday’s fall.  

S&P 500 (USA) – I have anticipated for some silence before but US market goes for violent rise. Based on technical chart this up move is still justify as 2045 support zone holds. Once again 2100 may be on litmus test. Will it hit and give a breakout or will it see profit taking from 2100 levels. I am at least not going to be on short side for this week and this is only reason for me to be on buy side. 

19 November 2015: Stock Chart Analysis for intraday: TATAMOTORS, M&M and HCLTECH

TATAMOTORS (406.25)

Buy above 408/ SL 403/ Target 415-420||Sell below 399/ SL 404/ Target 390-388

M&M (1278.30)

Buy above 1286/SL 1278/ Target 1305-1320|| Sell below 1266/ SL 1275/ Target 1250

HCLTECH (845.65)

Buy above 854/SL 848/Target 870-880||Sell below 838/SL 845/Target 825-820

18 November 2015: Nifty Elliott wave analysis: I still expect 7900 to come by this week. Support stand at 7790-7780.

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

For 18November 2015: -

On 17November 2015: FII Net Sold – INR 492.45:  DII Net Bought – INR – 783.02

My anticipated target range was 7850-7900. It hit a high at 7860. My expected range is still broad which is based on the fact that market may trade range bound on higher end. I must say that yesterday’s close was on decent note. As long as it is above 7790 we can expect further extension.

For today’s trading session, I am expecting market to open on negative note as suggested by SGX Nifty. Well, an intraday recovery is expected. To some extent market may try to achieve the levels of 7900 sooner or later. Still most part of the trading session can be dull. We can hope that market may turn dull if it stays in negative. Ignore sell signals in confusion.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – I say a buy signal at 7750 which is still continuing. As long as it is above 7800-7790 we hope this trend to continue for a move above 7900 levels. I may opt to ignore intraday sell signal if it comes. Most of those can be misguiding.

S&P 500 (USA) – I have quoted for a move towards 2060+. It has done with a high at 2065 and then slipped to close at 2050. This is still a fine move. To some extent we may feel that bounce has done. Market will trade choppy today on anticipation of next move. It can be up or down but chances are bright that market will hold support at 2045 for rest of this week. Upcoming three trading sessions may be dull. It is on no trade period.

18 November 2015: Stock Chart Analysis for intraday: HINDUNILVR, CEAT and TATASTEEL

HINDUNILVR (798.30)

Buy above 805/ SL 799/ Target 817||Sell below 792/ SL 798/ Target 780-775

CEAT (1056.00)

Buy above 1067/SL 1058/ Target 1100|| Sell below 1049/ SL 1058/ Target 1030-1020

TATASTEEL (234.55)

Buy above 236/SL 234/Target 245-250||Sell below 231/SL 233/Target 227-225

17 November 2015: Nifty Elliott wave analysis: So we got expected mini bounce. My expected target is in the zone of 7850-7900.

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

For 17 November 2015: -

On 16 November 2015: FII Net Sold – INR 1051.26:  DII Net Bought – INR – 661.71

I have already said for this recovery yesterday itself. We took a long on index option as we bought 7800 call on safer note. Our long came at 60-62. Well, on Nifty spot I am expecting levels of 7850-7900 as minimum target for this recovery. Why this long trade signal came from low? Simple answer is that if H&S makes multiple shoulders from n-lime then almost same number of pullback used to come. Current pullback came with same behaviour which can die on n-line again which is at 7940.

For today’s trading session, I am expecting market to open on positive note and it may remain bullish as long as it can stay above 7825-7800 levels. I will remain on buy side on my anticipated long trade target above 7900 on nifty.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – From a level of 7750, a buy signal came for mini bounce we are living in that mini bounce zone. Can this bounce convert to a big bounce? Yes, it can. I am expecting 7900+ levels. I do not suggest making short attempt for the day although today is litmus test day. If follow comes for bulls then market should close on day’s high again.

S&P 500 (USA) – I have already said that we have a chance to see a recovery from lower levels and here it comes in its own fashion. US Futures were down yesterday which we were on trade but it has closed on handsome note. Technical charts are justifying for a move towards 2060 and then even 2075 are also possible.  So call is to hold your long unless a fresh sell signal emerges. Remember its already from much lower levels. 

17 November 2015: Stock Chart Analysis for intraday: M&M, KOTAKBANK and LT

M&M (1287.25)

Buy above 1290/ SL 1280/ Target 1320||Sell below 1269/ SL 1277/ Target 1250

SBIN (248.30)

Buy above 250/SL 248/ Target 256-260|| Sell below 245/ SL 247/ Target 240

LT (1357.10)

Buy above 1365/SL 1357/Target 1380-1390||Sell below 1340/SL 1348/Target 1310-1300

16 November 2015: Nifty Elliott wave analysis: Take a support of 7680 as key for this week for a mini bounce.

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

For 16 November 2015: -

On 13 November 2015: FII Net Sold – INR 746.70:  DII Net Bought – INR – 70.89

I still believe that Nifty may be close to short term support. This support stands in the range of 7680. Once it has closed below 7750 then we have reasons to believe for 7700-7680. One can ask what the chances of hitting 7532 again are. I must say that sooner or later it will come and it will break too. It does not matter it come with a bounce or without a bounce.

For today’s trading session, I am expecting market to open on negative note and it may remain dead for most part of the day near low which may be around 7700 levels. My view is that it may take a small bounce in last half before close. There is nothing great on index but I have no good reasons to say for fresh shorts. A mini bounce may come this week.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – From a level of 7760 we may not have good chance of shorting unless a fresh sell signal emerges. Equally, below 7750 it will get a possible sell signal for further 50 points dip. Can we expect bounce? So far, it is tougher to say. One needs to wait for intraday development. Trading range may be small today on negative side. If goes positive then only we can hope some move.

S&P 500 (USA) – I have said for 2000 coming and it seems that a level close to 2000 may come by today itself. Remember, this was a sell near 2100 levels and it is almost on its target. Whoever has shorts should take their profit now. From low it may have a chance for some bounce. A mini bounce it expected from today’s low. Do not short now unless S&P slips below 1990. 

16 November 2015: Stock Chart Analysis for intraday: M&M, KOTAKBANK and LT

M&M (1251.40)

Buy above 1259/ SL 1250/ Target 1275-1290||Sell below 1240/ SL 1247/ Target 1225

KOTAKBANK (669.60)

Buy above 675/SL 669/ Target 990|| Sell below 664/ SL 670/ Target 654-650

LT (1331.20)

Buy above 1345/SL 1337/Target 1375||Sell below 1324/SL 1333/Target 1310-1300

13 November 2015: Nifty Elliott wave analysis: NIFTY – hope for support at 7750. If breaks 7750 then expect 7690-7680 too.

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

For 13 November 2015: -

On 11 November 2015: FII Net Sold – INR 11.93:  DII Net Bought – INR – 10.52

Few things one must note that Nifty is trading below n-line of H&S pattern. We may have multiple shoulder patterns coming but final destination is a big fall. Well, right now market is nearing to the support of 7750-7760 levels. If it breaks 7750 then we can expect next support around 7690 levels.

For today’s trading session, I am expecting market to open on negative note again as indicated by SGX Nifty. I have no trade yet on index due to holidays. Technically we have resistance at 7850 levels. As long as it is below 7850 we may have chance for slipping lower towards support at 7750 levels. We have concerning fall on Reliance. If Reliance gets support then only one can expect some revival from lower levels.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – From a level of 7760 we may not have good chance of shorting unless a fresh sell signal emerges. Equally, below 7750 it will get a possible sell signal for further 50 points dip. Can we expect bounce? So far, it is tougher to say. One needs to wait for intraday development. I must say that days are coming for bigger trading range again.

S&P 500 (USA) – A sell signal emerges below 2080 and then hit a target around 2045. All has happened in just two trading sessions. In my previous updated I have already quoted for a move around 2000 levels. Well, even 2045 is historically a support. So we are practically one a make or break levels. If makes then a bounce if not then a fall to hit 2030 and then 2000. I must say 2000 is coming again, no matter how many bounce come from low. 

13 November 2015: Stock Chart Analysis for intraday: M&M, RELIANCE and TATAMOTORStm

M&M (1264.25)

Buy above 1275/ SL 1268/ Target 1300||Sell below 1254/ SL 1261/ Target 1240-1230

RELIANCE (928.45)

Buy above 935/SL 928/ Target 950|| Sell below 915/ SL 923/ Target 900-890

TATAMOTORS (411.30)

Buy above 414/SL 409/Target 424-430||Sell below 405/SL 409/Target 396-390

Wishing you and your family a very happy Diwali

My best wished for Diwali to all investing community,

I am presenting a view that from this Diwali to next Diwali many things are going to change. The first such change is the "Long term change in Elliott wave cycle".
We are already experiencing those.
I am not saying a full downside cycle.

10 November 2015: Nifty Elliott wave analysis: As long as it is saving 7760-7750, it can give buy from low but applicable resistance is at 8000.

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

For 10 November 2015: -

On 09 November 2015: FII Net Sold – INR 861.06:  DII Net Bought – INR – 621.18

I have quoted for support at 7760-7750 levels and we saw bounce from 7771 itself. So far this is good to say that market has saved and digested some odd. Question is how far this can go. Nearing to Fed meeting global market may see nervousness. One such nervousness hit yesterday in Wall Street.

For today’s trading session, I am expecting market to open on negative note again as indicated by SGX Nifty. I bought yesterday at low but not long on rise. As long as Nifty is below 8000 levels even short term trend is not up. Still I expect a trading support to emerge today also. It can take support near or around 7825-7800 levels. If this happens then some festival based stocks may see buying. Right now Tata Motors kind of stocks looks good for rise.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – Opening will go around 7860-7850 levels and immediate support will emerge at 7820 levels. If this happens then we may have a long trade opportunity before Muhurat trading. On higher side 7940-7950 is a resistance. Can trading range go bigger? Yes, we have a bright possibility to see a bigger trading range this week.

S&P 500 (USA) – I have quoted for support at 2080-2070 levels. Yesterday night it has seen a fall to hit a low at 2069 and then bounced. This bounce may keep bears little shy. Technically one more close below 2080 will trigger sell. So today’s trading is very crucial. If bounce comes to keep it above 2080 then 2100 may be on hunt. If not then a possible sell signal is coming. I do not buy at 2100.   

10 November 2015: Stock Chart Analysis for intraday: RELIANCE, LT and TATAMOTORS

RELIANCE (961.25)

Buy above 965/ SL 959/ Target 978-980||Sell below 954/ SL 960/ Target 942-938

LT (1359.05)

Buy above 1366/SL 1358/ Target 1390-1400|| Sell below 1348/ SL 1357/ Target 1330

TATAMOTORS (411.75)

Buy above 414/SL 409/Target 424-430||Sell below 405/SL 409/Target 396-390

09 November 2015: Nifty Elliott wave analysis: End on Modi magic. Market to test the levels of 7800-7750 now.

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

For 09 November 2015: -

On 06 November 2015: FII Net Sold – INR 219.17:  DII Net Bought – INR – 39.45

Here comes big disappointment from Bihar. A back to back two Major losses for Prime Minister. He lost both Delhi as well as Bihar which was knows as heaven for BJP. It’s time to accept reality. This is definitely something which market would not like. Just see how n-line of H&S pattern came in to effect as market may take a big gap down today. Based on chart it could have been an easy conclusion that below 7925-7900 it can challenge 7800-7750. I have already quoted this on Friday although I have no taken risk of forwarding.

For today’s trading session, I am expecting market to open on negative note. Take a note that unfortunately market is on a level where H&S pattern may take its effect. Note that we are almost on n-line of that bigger H&S pattern. Nifty can see 7800-7750 too by today itself. On higher side 7880-7900 will be resistance for rebound. Take a point – 7760 can be a possible support.

As much lot size is increasing in a big way from today one can expect less participation by retail traders. I am strongly criticizing this sort of havoc lot size. This is an attempt to keep small traders away from market and giving leverage to big players. It invites unhealthy activities in market.

Index may not give flavour to trade.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty November future – Opening will go around 7820 levels which are well 170-160 points negative. In such days I do not prefer to trade. If recovery does not come from 7820 then one can expect further dip towards 7760 levels.

S&P 500 (USA) – As suspected US market turned choppy at 2100 levels. I am keeping my study unchanged. I have already suspected this kind of move hence I have decided to trade long only above 2135. Now it has bright chance of showing dull and unpredictable move near 2100 levels. It may spend many days. Equally a good sell signal will emerge below 2080 levels at least. If someone wants to take hourly chart signal then yes it has a sell around 2110.    

09 November 2015: Stock Chart Analysis for intraday: SBIN, TATASTEEL and TATAMOTORS

SBIN (343.00)

Buy above 346/ SL 343/ Target 354||Sell below 340/ SL 343/ Target 334-330

TATASTEEL (220.25)

Buy above 224/SL 221/ Target 230|| Sell below 218/ SL 221/ Target 213-210

TATAMOTORS (396.15)

Buy above 403/SL 400/Target 410-413||Sell below 391/SL 394/Target 384-380

06 November 2015: Nifty Elliott wave analysis: Now, as long as it is below 8030 expect dip only for support at 7900. If fails then 7800-7750 is also possible.

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

For 06 November 2015: -

On 04 November 2015: FII Net Bought – INR 33.16:  DII Net Sold – INR – 74.90

I was expecting the support of 8000-7990 to work but it failed to hit my expected trading range of 7960. Once again majority of dip goes to hit in last hour of trade. The next meaningful support range will be at 7940 to 7900 levels. I am expecting some silence again in market before Muhurat trading.

I need to accept that looking on the previous H&S pattern I am keeping my reservation from this up move although room may left for rise. I still consider that upcoming few months are very critical for global indices. The first impact of H&S is coming in line with my expectation. These are zigzag bounce in between the pattern.

For today’s trading session, I am expecting market to open flat and then a dull day. This kind of dull days must be avoided to trade. If I have to trade then I will look for support at lower end. Take a note that unfortunately market is on a level where H&S pattern may take its effect. Note that we are almost on n-line of that bigger H&S pattern. If Bihar election goes against ruling NDA government then Nifty can see 7800-7750 too by next week itself.

As much lot size is increasing in a big way from today one can expect less participation by retail traders. I am strongly criticizing this sort of havoc lot size. This is an attempt to keep small traders away from market and giving leverage to big players. It invites unhealthy activities in market.

Index may not give flavour to trade.

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Strategy for Nifty November future – Indian market has seen a drag from past 10 trading sessions. We may have a possibility of mild recovery from lower end. To be fair, I cannot deny the possibility of 7800 also before Dilwali day if market does not take support. Wave theory is saying for a bounce-followed by sell off.

S&P 500 (USA) – As suspected US market turned choppy at 2100 levels. I am keeping my study unchanged. I have already suspected this kind of move hence I have decided to trade long only above 2135. Now it has bright chance of showing dull and unpredictable move near 2100 levels. It may spend many days. Equally a good sell signal will emerge below 2080 levels at least. If someone wants to take hourly chart signal then yes it has a sell around 2110.    

06 November 2015: Stock Chart Analysis for intraday: BATAINDIA, LT and TATAMOTORS

BATAINDIA (464.65)

Buy above 471/ SL 466/ Target 482||Sell below 459/ SL 464/ Target 450-440

LT (1368.95)

Buy above 1380/SL 1372/ Target 1410|| Sell below 1359/ SL 1367/ Target 1330

TATAMOTORS (404.00)

Buy above 407/SL 404/Target 416-418||Sell below 399/SL 403/Target 390-386