29 January 2016: Nifty Elliott wave analysis: First day of the new derivative month. Expect resistance at 7500.

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

For 29 January 2016: -

On 28 January 2015: FII Net Sold – INR 961.82:  DII Net Bought – INR – 394.22

This is fairly a dull expiry and I was not anticipating this kind of silence on expiry day. It is still a notable point that Nifty has not crossed 7500 yet. Equally it is not below 7400 levels either. I still expect a move towards 7500 before downside. Well, this is just anticipation. Once it breaks 7400 then it will take out all possibility of 7500 levels.

For today’s trading session, we may get a flat opening but I prefer to trade short on bounce. My choice for second half will be shorting. If I have to short then I will after 1 pm only. If selling comes in second half today then it will be brutal. My expectation is if it goes below 7400 then dip can be sharp.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty February future – Today is the first day of current month. Technically 7480-7490 is a turning out to be key resistance. On higher side crossover of 7490 may not be easy.  If it comes then only we can expect a 50-60 points move. Below 7400 it will be played by bears only.

S&P 500 (USA) – Market is expected to be in range for now. Technical charts are suggesting that trading range can be 1875 to 1915 for the time being. I am expecting another possible down move to start with a top somewhere near to 1915 levels itself. Whatever up side is coming may be the time for exit from tempted long. So far, not a great short signal. 

28 January 2016: Nifty Elliott wave analysis: 7500 is a challenge so far. If breaks from near to 7500 then 100 points dip is possible for second half.

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

For 28 January 2016: -

On 27 January 2015: FII Net Sold – INR 366.93:  DII Net Bought – INR – 499.99

I have added yesterday that as long as it is above 7400 we can expect 7530 levels. Today is the most suitable say to hit 7500+ levels. Well, today is derivative expiry too. Technically, if it does not breaks 7500 then we can see selling from higher levels. Looking on current pattern we can say that if fall has to come then it will come in second half only.

For today’s trading session, we may get a higher opening but I prefer to trade long on dip only. My choice for second half will be shorting. If I have to short then I will after 1 pm only. if selling comes in second half today then it will be brutal. My expectation for expiry is below 7400.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – We have derivative expiry today and my view point is that if Nifty can sustain 7490 kind of levels then we can see a fresh addition of 50 points. Can it see fall in last hour again? Well, chances are here again. If it has to fall then it will fall by today also and that’s in second half. I do not see any threat for first half. Still, for second half we can see a fall of nearly 100 points.

S&P 500 (USA) – I cannot say that it was entirely unexpected. Keep news flow on one side and justify this move by technical charts. It can be seen that we saw a profit taking after 100 points rebound. I used to say that on long term chart first bounce is only a reaction not a reversal. It hit a high at 1915. Now to move up it has to stay above 1915. If it fails then it will break 1812 levels sooner or later. 

27 January 2016: Nifty Elliott wave analysis: Even before expiry it need to sustain above 7400 to see 7530.

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

For 27 January 2016: -

On 25 January 2015: FII Net Sold – INR 91.15:  DII Net Bought – INR – 307.89

We have derivative expiry tomorrow. We hardly saw anything positive for bulls for this month. This point is definitely against bulls before expiry. Still, nifty is in heavily oversold zone. I strongly believe that as long as Nifty is above 7400 we may see downside support emerging. This applicable as long as it is above 7400 levels.  

For today’s trading session, we may get a higher opening but I prefer to trade long on dip only. gap up may not sustain. The downside must see a support at 7400. Below 7400 it will see pain again. My logical target is still in the zone of 7530-7535 levels.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – We have derivative expiry this week and my view point is that if Nifty can sustain above7470 kind of levels then we can see a fresh addition of 50 points. Can it see fall in last hour again? Well, chances are here again. If it has to fall then it will fall by today also and that’s in second half. I do not see any threat for first half.

S&P 500 (USA) – I do not need to change my study. S&P is above 1900. This is my expected move on S&P which goes above 1900. Have a look. It has a low at 1812 and now it is above 1900 in very short time span. I feel that more bounce has left in the market. Can it reach 1945? This is something which is going to be interesting. So far, I am expecting up week. My logical target for this recovery is 1945 with trading support at 1875. If it has to reverse then reverse point can be only at 1905. Today is decisive day. 

25 January 2016: Nifty Elliott wave analysis: As long as it is above7410 it can hit 7530. One fall is possible today in second half.

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

For 25 January 2016: -

On 22 January 2015: FII Net Sold – INR 769.83:  DII Net Bought – INR – 915.60

This is going to be a short week before as we have holiday tomorrow. So far, bounce is great. Close above 7410 is great for Nifty. As long as Nifty is above 7410 we can expect a move towards 7535-7530 levels, previous low of the market. Without a doubt, the dent will put its impression on recovery too. Hence, recovery may be slow or dull anytime.  

For today’s trading session, we may get a higher opening but I prefer to trade long on dip only. I want this market to retrace if some gap up comes. I am still not sure about the closing. We must note that we have just one green candle so far. We need to see follow up buying.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – We have derivative expiry this week and my view point is that if Nifty can sustain above7470 kind of levels then we can see a fresh addition of 50 points. Can it see fall in last hour again? Well, chances are here again. If it has to fall then it will fall by today also and that’s in second half. I do not see any threat for first half.

S&P 500 (USA) – This is my expected move on S&P which goes above 1900. Have a look. It has a low at 1812 and now it is above 1900 in very short time span. I feel that more bounce has left in the market. Can it reach 1945? This is something which is going to be interesting. So far, I am expecting up week. My logical target for this recovery is 1945 with trading support at 1875. 

22 January 2016: Stock Chart Analysis for intraday: BHEL, AXISBANK and LUPIN

BHEL (143.10)
Buy above 144/ SL 142/ Target 148-150||Sell below 139/ SL 141/ Target 135-132

AXISBANK (409.15)
Buy above 413/SL 409/ Target 424-430|| Sell below 405/ SL 409/ Target 396-392

LUPIN (1685.90)
Buy above 1705/SL 1690/Target 1735-1750||Sell below 1675/SL 1685/Target 1660

22 January 2016: Nifty Elliott wave analysis: One can expect recovery before derivative expiry now. High possibility for 7240 to remains as short term bottom.

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

For 22 January 2016: -

On 21 January 2015: FII Net Sold – INR 1747.23:  DII Net Bought – INR – 1267.74

So far 7240 has acted as good support which was confirmed yesterday. We saw a dip yesterday too from higher levels but fall got saved at 7250 itself by saving 7240 levels. Technically we can expect a recovery. Hint can be seen on SGX Nifty too.

For today’s trading session, we may get a higher opening but I prefer to trade long on dip only. Take a note that unless Nifty closes above 7400 we cannot name 7240 as short term bottom. We saw massive happening in banking stocks which may undergo some good recovery. I need to warn that current pattern is something which may cause another round of sell off after few days of recovery.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – We have derivative expiry next week and today is last trading day of the week.  If it opens around 7360 then I like to wait for dip. Thing is that it is on buy mode from lower levels. Once again it is not easy to see what that lower level can be. I hope for a close above 7400 today.

S&P 500 (USA) – We saw a wider range in last trading session but closing was still on better note compared to what has happened in last days. Technically threat is not over yet. These are concerning levels based on charting. On other hand market is heavily oversold in short term and hence the possibility of bounce is very bright. 

21 January 2016: Nifty Elliott wave analysis: Will Nifty respect 13^th day bottom of 7241? Yes it can!!!

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

For 21 January 2016: -

On 20 January 2015: FII Net Sold – INR 1324.69:  DII Net Bought – INR – 1383.14

It looks like it hit a short term bottom on 13^th day itself. We got recovery in very last 30 minutes trade. Before that it was too painful for bulls to see market. Question is still alive. Will this recovery sustain? I was definitely not confident yesterday. Now looking in to SGX Nifty, it seems that Nifty is almost 2% higher from yesterday’s low.

For today’s trading session, we can say opening around 7365 levels. This is definitely encouraging but I warn from the possibility of this opening get sold at high. One intraday sell off is bound to come and that will decide if we can say yesterday’s low as bottom or not. Wait for opening. 7240 was crucial and critical.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – Nifty Future opening may go around 7360 and this is something we can say that it is good for bulls. Technically if it can extend rise above 7400 then it can good. I will prefer to buy one intraday dip. I do not know at which levels.

S&P 500 (USA) – Before getting a bounce, S&P goes to hit 1812. Well, closing for Wall Street was encouraging but it came too late. This recovery should not end in one or two days. I am expecting the extension of this recovery towards 1915 to 1945 levels. It has still a long way to go. Meaningful support is only at 1812 to 1800 levels. 

20 January 2016: Nifty Elliott wave analysis: Today is 13^th day from the top of 7972 levels. A reversal must be very close for short term. Support – 7365-7335!!!

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

For 20 January 2016: -

On 19 January 2015: FII Net Sold – INR 857.70:  DII Net Bought – INR – 1386.83

Today is 13^th day from the top of 7972 levels. We saw a bounce yesterday but right now SGX Nifty is running in a gap down mode. It does not make too many sense but we cannot expect sense every time from stock market. We have two technical supports on Nifty. One is at 7365 and next is at 7335. It is hard to anything if market extend its fall.

For today’s trading session, we can say opening around 7365 support levels. After that we will see support at 7335 levels. There is no question of technical resistance as it is opening on a mode where it has to decide for support first.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – Nifty Future opening may go around 7360 and this is something which may be below yesterday’s low. Note that we saw a recovery yesterday. This will wash out yesterday’s gain. After that support will be only at 7330. I do not suggest any shorting after this kind of gap down.

S&P 500 (USA) – S&P closed near 1880 and future is still down. It is down in a critical way this morning. Is it saying market do not want to take support even now? Well, if this is the case then history is in making. Based on wave theory we have every reason to expect a technical bounce from or before 1860. I am still under doubt but strongly believe that it should come anytime now. Does not matter what futures are doing. 

19 January 2016: Stock Chart Analysis for intraday: BHEL, AXISBANK and LUPIN

BHEL (142.10)
Buy above 144/ SL 142/ Target 148-150||Sell below 139/ SL 141/ Target 135-132

AXISBANK (373.20)
Buy above 378/SL 375/ Target 384-390|| Sell below 366/ SL 369/ Target 355-354

LUPIN (1702.55)
Buy above 1715/SL 1705/Target 1735-1750||Sell below 1685/SL 1695/Target 1660

19 January 2016: Nifty Elliott wave analysis: Nifty next meaningful support will come at 7200 only. tomorrow is 13th day.

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

For 19 January 2016: -

On 18 January 2015: FII Net Sold – INR 1203.84:  DII Net Bought – INR – 1122.80

It goes more than 8% fall from the top of 7972 which was tested on very first trading day of the year. Since then it is down and only down. Today is 12^th day from the top of 7972. Based on Fibonacci series tomorrow may be the day for the desired recovery to begin. It is equally true that market is very heavily oversold. Based on technical charts we can say that only meaningful support below 7320 will be at 7200.  

For today’s trading session, we may see a flat opening but there is no optimism. Take a note that market has not seen any panic low yet even after such a big sell off. So market may slip further. First strong sell goes below 7530 and then below 7430.  

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – Nifty Future goes near 7360 which was expected levels below 7420. Now, will it hit 7300 too? I must say that it has every chance of hitting that level too. This market to truncate at lower pattern at some point but that point is still beyond the scope of prediction. It may not be easy trading day for bulls.

S&P 500 (USA) – This is definitely too much. There is no great sign of recovery yet even after fall of 200 big points. This is alarming too. Whatever sign of recovery comes that dies on very next day. This kind of pattern is indecisive. Hence, we need to see three day recovery in a row to say that market is in path of recovery. We can just hope that recovery should come this week. 

18 January 2016: Nifty Elliott wave analysis: If support does not work at 7430 then 7360 is next possibility.

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

For 18 January 2016: -

On 15 January 2015: FII Net Sold – INR 1123.79:  DII Net Bought – INR –688.84

The flip flop continues and market closed on weaker note on Friday’s session. Close near to 7430 is invoking possibility of further break down. This is definitely alarming and giving a possible panic. Nifty almost sold 550 points this year so far without any meaningful energy.

For today’s trading session, we may see a flat opening. This opening may get support at 7360-7380 levels. There is no big sign of recovery so far. I must say that unless Nifty closes above 7630 we cannot say that recovery can sustain. Well, we are 200 points away form that levels now. I am not taking any call before opening today.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – it has broken 7500 and goes for straight sell off of 60-70 points. This is concerning as sell off came in second half with close at lowest point. Let us see if it can take support at 7430-7420 levels. If not then 7360 cannot  rule out.

S&P 500 (USA) – This is definitely too much. There is no great sign of recovery yet even after fall of 200 big points. This is alarming too. Whatever sign of recovery comes that dies on very next day. This kind of pattern is indecisive. Hence, we need to see three day recovery in a row to say that market is in path of recovery. We can just hope that recovery should come this week. 

18 January 2016: Stock Chart Analysis for intraday: RELIANCE, DLF and RELINFRA

RELIANCE (1073.30)
Buy above 1082/ SL 1075/ Target 1100-1111||Sell below 1063/ SL 1070/ Target 1050-1045

DLF (99.65)
Buy above 102/SL 101/ Target 105|| Sell below 98/ SL 99/ Target 95-94-93

RELINFRA (492.90)
Buy above 501/SL 496/Target 515-520||Sell below 486/SL 491/Target 475-470

15 January 2016: Nifty Elliott wave analysis: If we can see close above 7630 then only we can name 7425 as short term bottom.

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

For 15 January 2016: -

On 14 January 2015: FII Net Sold – INR 1221.97:  DII Net Bought – INR –1526.22

Well, as expected, it has opened down yesterday and then took a recovery to challenge 7630 on higher side but missed. I still repeat that for bulls 7630 is a crucial level where market is trying for form multiple tops. In the down side 7425 has proven to be good support which was much near to mentioned 7430 levels. Can I expect recovery? Yes, we can.

For today’s trading session, we may see a flat opening. This opening may get support at 7500 levels. I expect another day with solid intraday rebound to challenge 7630 levels. I like to see weekly closing to conclude for the magnitude of recovery for next week. We may see short term bottom at 7425 but this is not a final bottom. Market can move to hit 7800 but a deeper cut will come later.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – Now a day I am not forwarding trades. Technical charts are justifying the support again at lower levels. At the strength of lower levels we will opt to trade long. I cannot pin point the support for long. I expect this to emerge in the zone of 7500. Let us see.  

S&P 500 (USA) – It’s great to see a bounce from 1890.  I must repeat that as long as it is staying below 1945 treat will not over. So far, we can name it as a pullback after brutal sell off. Although, I am strongly optimistic for a remarkable pullback. Let us see how it closes for the week. If it can close above 1945 then we may expect good rebound next week.

15 January 2016: Stock Chart Analysis for intraday: LUPIN, INFY and TATASTEEL

LUPIN (1717.50)

Buy above 1725/ SL 1710/ Target 1760-1780||Sell below 1705/ SL 1716/ Target 1680

INFY (1133.00)

Buy above 1145/SL 1133/ Target 1170-1180|| Sell below 1119/ SL 1129/ Target 1100-1090

TATASTEEL (238.75)

Buy above 241/SL 239/Target 246-48||Sell below 235/SL 238/Target 229-226

14 January 2016: Stock Chart Analysis for intraday: INFY, RELIANCE and TATAMOTORS

INFY (1083.40)
Buy above 1091/ SL 1082/ Target 1110-1130||Sell below 1072/ SL 1082/ Target 1055-1050

RELIANCE (1076.85)
Buy above 1082/SL 1075/ Target 1100-1110|| Sell below 1069/ SL 1075/ Target 1060-1050

TATAMOTORS (364.60)
Buy above 369/SL 366/Target 380||Sell below 363/SL 366/Target 358-355

14 January 2016: Nifty Elliott wave analysis: Will 7425 act as short term bottom? Today is the day for confirmation after gap down.

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

For 14 January 2016: -

On 13 January 2015: FII Net Sold – INR 75.90:  DII Net Bought – INR –618.79

We got such a smart intraday recovery yesterday and even that will not help us from a big gap down today. All this has to happen due to bad global cues. DJIA has slipped by 2% last night. How to read the chart now? Well, yesterday’s low of 7425 will act as decisive support. I do not think that Indian market can be as bad as US indices.

For today’s trading session, SGX Nifty is giving a strong hint for gap down. I will be buyer from lower levels again. We have every signal to buy from the support of 7425. Once again we may get a good recovery. I must remind that a perfect bottom formation or signal of reversal is still missing due to absence of follow up.  

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – Thankfully we have booked our long in last 15 minutes and it was planned exit due to missing conviction for forward. US market proved us right. Fine, we may opt to buy again. I cannot say the levels to act. It will depend on intraday development but do not short after gap down.

S&P 500 (USA) – How many times we see S&P cracking 60 points from its high point in intraday session? It’s very rare. This kind of weakness is definitely alarming. Most panic bottom used to form in this kind of scenario but technical formations has other words. We have wide gaps between supports. One is at 1850 and other is at 1800 levels. Will it recover now or will it hit to break all barriers? One thing is clear that S&P will hit 1550-1500 by this year itself. 

13 January 2016: Nifty Elliott wave analysis: Real strength will emerge above 7630 only. Support = 7480!!!

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

For 13 January 2016: -

On 12 January 2015: FII Net Sold – INR 1319.24:  DII Net Bought – INR – 900.99

Yesterday’s sell off has pushed Indian market again. Well, I still believe that this is not the time to opt shorting in anyway. Market is extremely oversold. Bounce is expected in this range which should come as relief rally. As long as it is above 7480 we can hope for recovery. Even if it breaks 7480 then also it can get support at 7430 levels.

For today’s trading session, SGX Nifty is giving a strong hint for gap up. Worse part is that major fall came as gap down and it looks like recovery will begin with gap up only. If gap up sustain then take this as trend reversal for short term. Above 7630 we can fairly expect 7800-7850 levels.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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

Strategy for Nifty January future – I am still focusing on relief rally at this level. It took support in my expected range of 7500 but did not show any power for rise. If it opens around 7600 then one must for some time or some dip to see strength. Hope it will not break further.

S&P 500 (USA) – I do not need to change study. It is moving towards 1945. It hit near to 1900 levels again but we see a bounce. This is still enough to say for a bounce. We need to see for more recovery. On higher side it needs to revive above 1945 levels to claim for any big meaningful recovery. 1900 may just be the last hope. If it breaks 1900 then we can see a possibility of 1870 to 1850 levels. I repeat, it’s extremely oversold as of now. A bounce deserve. 

12 January 2016: Nifty Elliott wave analysis: I still expect for more bounce but real strength can emerge above 7630 only.

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

For 12 January 2016: -

On 11 January 2015: FII Net Sold – INR 1319.24:  DII Net Bought – INR – 900.99

It was just too interesting session yesterday. Nifty hit a low around 7495 and then bounced. We saw a dip again in the mid of the session due to sudden sell off in China. In the last hours, bulls came again. So, what is next? Is it almost a DOJI?

For today’s trading session, we may see flat to small down opening. Market is expected to be dead till 11 am. I strongly believe for a positive day afterward. Bears have a figure, 7630, if Nifty can sustain above 763 then we can see a dead cat bounce. Take a note that we are not too far from big wounds.  Hence, support is still at 7500-7480 levels.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

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Strategy for Nifty January future – I am still focusing on relief rally for the day to continue. It can save 7540-7530 levels to bet on relief rally. If not then it can be go to hit 7500-7490 may be the next figure to talk about. Let us see what is about to come. No one can be confident on any call right now. This is a phase of panic for traders. Deal in some suitable options as futures can be wild anytime.  

S&P 500 (USA) – It hit near to 1900 levels again but we see a bounce. This is still enough to say for a bounce. We need to see for more recovery. On higher side it needs to revive above 1945 levels to claim for any big meaningful recovery. 1900 may just be the last hope. If it breaks 1900 then we can see a possibility of 1870 to 1850 levels. I repeat, it’s extremely oversold as of now. A bounce deserve. 

11 January 2016: Nifty Elliott wave analysis: A gap down should followed by technical recovery for whole day. Support 7500-7480!!!

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

For 11 January 2016: -

On 08 January 2015: FII Net Sold – INR 1236.95:  DII Net Bought – INR – 1003.99

It has closed with a small green on Friday’s session which gave a sense that Indian market were better than other indices. Still, SGX nifty is saying that it was a technical pause. This makes no great sense. Pattern on technical charts are extremely burning. It is giving many hints for brutal targets. Are those really coming? Yes, it may come but as of now Indian market deserves a technical correction which should give levels of 7700 at least for once.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

For today’s trading session, we may see a gap down and a brutal gap down. If it opens near 7500 then a technical recovery should govern the day. I just cannot short this market which is oversold of this magnitude.

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Strategy for Nifty January future – I am focusing on relief rally for the day. It can save 7500 levels to bet on relief rally. If not then it can be go to hit 7450-7400 may be the next figure to talk about. Let us see what is about to come. No one can be confident on any call right now. This is a phase of panic for traders. Deal in some suitable options as futures can be wild anytime.  

S&P 500 (USA) – No support can work here. It is looking to hit 1900 levels. This is perhaps the worst start for the year. This is extremely oversold now and market looks as it has revaluated itself. If this is the case then also a bounce deserve from levels near to 1900. This is just too tough to handle even by bears. I warn that no recovery can sustain anymore after a year of consolidation. Bigger dip may hit. 

08 January 2016: Nifty Elliott wave analysis: A relief rally or a black Friday? Last hope – 7530!!!

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

For 08 January 2016: -

On 07 January 2015: FII Net Sold – INR 1051.74:  DII Net Sold – INR – 190.86

This is just third time in past more than one and half year that Nifty has closed near 7550 levels. A big warning sign has emerges. It can do much damage in coming months. Have a looks at the weekly chart posted. How horrible it can be. You can expect a relief rally anytime but final destination is too bad.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

For today’s trading session, we may see a gap down or flat mode. Today is the most suitable day to expect a relief rally if it can save 7530. Let us see.

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

Strategy for Nifty January future – I am focusing on relief rally for the day. It can save 7530 levels to bet on relief rally. If not then it can be another black Friday and 7450-7400 may be the next figure to talk about. Let us see what is about to come. No one can be confident on any call right now. This is a phase of panic for traders. Deal in some suitable options as futures can be wild anytime.  

S&P 500 (USA) – It looks like what I was expecting for December is coming in January. It has broken all possible supports. It has broken even 1960 to hit almost 1940. Its heavily oversold in current zone and a bounce deserve. It is crystal clear what is coming this year for stock market. A massive consolidation for whole 2015 and showing warning sign from very first day in 2016. Is 1550 coming? 

07 January 2016: Nifty Elliott wave analysis: Chinese woes can cause another big gap down. Next support – 7650- Heavily oversold.

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

For 07 January 2016: -

On 06 January 2015: FII Net Sold – INR 352.42:  DII Net Bought – INR – 13.19

Relative performance is one thing which net down side is another thing. Nifty has closed will fall for three days in a row and almost breaking every possible intraday supports. Now once again Chinese worry can overshadow all possibilities of relief rally. Chinese market is down by 7%. All global indices are bleeding.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

For today’s trading session, we may see a gap down as most global indices or indices futures are down again.  One can expect this to take support around 7650 levels only. Do not buy unless a strong buy emerges. There is no great chance of shorting index after 80-100 points of gap down. Do not trade.

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Strategy for Nifty January future – One can expect another bleeding opening and no possibility to jump on trade on either side. This says that market is on panic mode. Over sold hourly chart may drive support at some levels which are not known yet. One thing is clear that Nifty may not have chance to break 8000 easily sooner.

S&P 500 (USA) – It goes on 1990 and now it is concerning. It is breaking regular trading pattern. Right now US indices futures are down again by 1% on Chinese Woes. I can say one thing that it is heavy oversold in short term and hence a relief rally is expected. Will come from 1990 or will it come from 1960. Only time can answer but definitely “a big warning” sign of on for long term trend. Warning is for those who are still considering long term trend as up. I am not amongst those. 

07 January 2016: Stock Chart Analysis for intraday: BAJAJHIND, RELIANCE and TATASTEEL

BAJAJHIND (19.45)

Buy above 19.85/ SL 19.60/ Target 21||Sell below 19.20/ SL 19.45/ Target 18.75-18.50

RELIANCE (1032.20)

Buy above 1039/SL 1032/ Target 1060|| Sell below 1025/ SL 1032/ Target 1010-1000

TATASTEEL (268.75)

Buy above 272/SL 269/Target 277-282||Sell below 266/SL 269/Target 260-256

06 January 2016: Nifty Elliott wave analysis: If do not hold at 7760 then 7700 may be next possibility.

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

For 06 January 2016: -

On 05 January 2015: FII Net Sold – INR 352.42:  DII Net Bought – INR – 13.19

Yesterday’s closing is definitely not a good one. Indian market was showing relative strength. Mid cap has shown buying but overall technical levels for Nifty remains concerning. I still believe that 7760 is a key support. Below 7760 we can expect support around 7720-7700 levels. Unless strong sign of bounce come I do not suggest bottom hunting.

Positive divergence on MACD verses H&S pattern goes on fight. We saw another right solder formation with top around 7980 and that’s concerning. On long term chart 8000 may remain tough resistance. I still have enough doubt which will play for this month. To be fair, if H&S play then one can expect nifty crashing towards 7200 to 7000 levels.

For today’s trading session, we may see a gap down as most global indices or indices futures are down again.  One can expect this to take support around 7720-7700 levels only. Do not buy unless a strong buy emerges.

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

Strategy for Nifty January future – I still do not consider for recovery so far based on closing levels. It seems that 7750 will also violate for today and then it can try to take support around 7720 kind of levels. Shall we buy bottom? One must wait for real time analysis as its falling knife so far.

S&P 500 (USA) – I do not need to change my study. 1990 support is still valid. I have already said that it has multiple time support at 2000-1990 levels. Last night, S&P bounced from 1989 levels which is just on dot support. Technical charts are suggesting that this recovery will have life as long as S&P sustained above 2000 levels on closing basis. Remember, most short term bottom forms with a panic. 

06 January 2016: Stock Chart Analysis for intraday: RELCAPITAL, CENTURYTEX and TATASTEEL

RELCAPITAL (461.30)

Buy above 467/ SL 461/ Target 474-480||Sell below 458/ SL 463/ Target 448-444

CENTURYTEX (597.40)

Buy above 603/SL 598/ Target 613-618|| Sell below 592/ SL 597/ Target 580

TATASTEEL (274.30)

Buy above 277/SL 274/Target 282-285||Sell below 269/SL 271/Target 265