29 February 2016: Nifty Elliott wave analysis: Be ready for wild move on Budget day. A trend decider – if Budget disappoints then 6800-6750 is a possibility.

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

For 29 February 2016: -

On 26 February 2015: FII Net Sold – INR 695.37:  DII Net Bought – INR – 784.14

I do not know what is coming for budget but I know one thing for sure that market is just giving a last chance to ruling government to move with reforms. If they fail this time too then take a strong word of caution. So far, nothing big has done so far in past two years.

For today’s trading session, I am expecting a flat to negative start and then Nifty will dance on budget speech. If it has to fall then also it will fall in post budget hours. Technical never has big meaning on such days. Still, if I have to give then I give important to 7080-7090 levels – if market fails to cross this then a dip is possible towards 6950.

A disappointing budget can give 6800-6750.  

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 March future – Who like to trade Budget day? It has better to take a holiday and watch Budget. Do not expect anything great unless it advance above 7130 levels. In the downside 7000 is a support. One can expect slip if it breaks 7000 levels.

S&P 500 (USA) – US index blue chip S&P is playing flip flop at 1945. I advise a caution with positive biasing. My concern is that if it is not sustaining above 1945 then it may give us a misguiding buy signal. I will prefer to buy only if this can sustain well above 1945 on price wise and time wise too. Logical target for upside is 2000 with support at 1930. 

26 February 2016: Nifty Elliott wave analysis: Do not buy anything before Union Budget on Monday. A disappointment can cause 6800-6750 levels on Nifty.

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

For 26 February 2016: -

On 25 February 2015: FII Net Sold – INR 1465.68:  DII Net Bought – INR – 806.97

Stock market never likes a populist budget and so it was Rail budget presented yesterday. Once again it was a talkative budget with no roadmap for funding. I am expecting this trend by NDA government to continue for Union Budget too. Indian economy desperately needs a reform based budget with hard decisions. Clock is ticking for Indian economy with back to back fourteen months slide in export figures.

For today’s trading session, I am expecting a gap up opening as suggested by SGX Nifty after a good rise in US market. As of now, Nifty will face resistance at 7100 levels before budget. If budget disappoint on Monday then one should prepare to see as bad as 6800 to 6750 on Nifty which may be a most likely situation.

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 March future – I want to go bearish before Union Budget. I may opt to buy few out to money put in today’s rise. The most crucial hurdle for Nifty will be at 7070 and then at 7100 levels. If it goes above 7100 then I will go to play a gamble and will buy some out of money put for Monday. I have no intension to trade Nifty future today. Let us see on signal.

S&P 500 (USA) – I said for buy in dip and it has crossed 1945 level. This makes a short term buy on S&P. As long as it is above 1950 we can expect levels of 2000 to be tested. I do not recommend short easily as long as it is above 1945 levels. Let us see if this breakout can get a good confirmation today. If this happens and follow up buying hits then we can expect a good next week. 

25 February 2016: Nifty Elliott wave analysis: If market does not like Rail Budget then expiry can go around 6900.  

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

For 25 February 2016: -

On 24 February 2015: FII Net Sold – INR 730.99:  DII Net Bought – INR – 605.88

I have already warned for the possibility of 7000 levels. Now what an eventful day we have. We have derivative expiry today and we have Rail budget too. What shall we expect? Take strong views – current ruling party has not done anything to economy and they have last chance. This is a talkative government (when past was mote government) and will do nothing. I have no great hope. Let us see what they deliver.

For today’s trading session, I am expecting a flat opening. We may see some rise on optimism in first half. I believe that budget speech will bring reality and charts are suggesting for dip only. I see expiry going towards or near to recent low. Below 7000, just SELL it.

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 March future – I am dealing March Future now. Technically, it has support at 7000-6980 levels. Well, if it breaks these levels then we may see further massive sell off towards 6900 levels. On higher side bulls attempt will come by first half only as they know that this is crucial level.  

S&P 500 (USA) – Have a look on how support works? 1890 has saved on Wall Street last night and we saw a bounce of nearly 40 points from those levels. Hence, it was said for buy in dip. What to conclude from here after? Well, 1945 is something which will not take out so easily. Market need to add much strength on higher side to cross. I will prefer to buy either from 1890 or above 1945.  

24 February 2016: Nifty Elliott wave analysis: Below 7100, do not buy at all as it can hit 7000 levels too.

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

For 24 February 2016: -

On 23 February 2015: FII Net Sold – INR 289.66:  DII Net Bought – INR – 257.93

Wave theory gave a caution signal at 7260 and we got a dip of more than 100 points. This reflects the importance of wave theory in any kind of market. Now from 7100 levels, we are on second make or break level. If it can make then we can see fresh rise. If it slips below 7100 then a dip is very much possible which can drag Nifty below 7000 too.

For today’s trading session, I am expecting a flat opening. The time is on for the test or break for 7100. If it stays below 7100 then one must avoid long. Dip can be sharp and impressive. I am expecting levels of 7000 also if it breaks 7100. One can take that upcoming Union Budget may be disappointing for market.

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 March future – I am dealing March Future now. Technically, it has support at 7110-7100 levels. Well, if it breaks these levels then we may see further massive sell off towards 7000 levels. On higher side bulls attempt will get some meaning only if this can stand above 7170 which is not going to be easier.

S&P 500 (USA) – This is expected dip from 1945. This makes a sense as it may represent a desired consolidation. US market charts may not have any big sell signal sooner although buy signal is also not so impressive. Market may undergo consolidation mode. If I have a choice then I will favour buy on dip. My views are applicable for global trend too. 

23 February 2016: Nifty Elliott wave analysis: Avoid long if this fails @ 7260. A good rally can extend above 7260 only.

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

For 23 February 2016: -

On 22 February 2015: FII Net Sold – INR 656.93:  DII Net Bought – INR – 597.87

I have already quoted for a possibility of 7260 yesterday on twitter. Well, it was very close but not crossed yet. So for today we may see first meaningful resistance at 7260 levels. There is a development on chart. We can see a slow rising wedge pattern formation. Wave theory suggests that we HAVE to be CAUTIOUS now.

For today’s trading session, if it can stand above 7260 then it is fine. If not then avoid long from this levels. Well, in term of support market can make multiple attempts for long as long as it is above 7200 levels. We are close to expiry and I am expecting expiry on higher note before union budget. This is my hope.

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 March future – I am dealing March Future now. Technically, if this can stand above 7300 only we can expect extension of gain. Today may be a decisive day. I strongly suggest that one can trade long only on strength.

S&P 500 (USA) – We got the most expected 1945 levels on S&P. I said this possibility clearly when it has saved 1800 levels. It turned a great recovery so far. Now it is next level of challenge to surpass 1945-1960 levels. Will it happen? Well, it is not going to be easy in anyway. Equally it is a tougher resistance to cross. If it can cross then it can save market for medium term. If it fall from here then it can be again a tough time bulls.  

19 February 2016: Nifty Elliott wave analysis: Expect sidewise to positive day to end the week. Decisive crossover point is 7230.

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

For 19 February 2016: -

On 18 February 2015: FII Net Bought – INR 418.64:  DII Net Bought – INR – 712.12

So far this goes the way I was expecting. We saw intraday dip but it has not broken 7100 levels anyways. As long as it holds 7100 we have reasons to believe for higher crossover. I am expecting a stiff trading resistance at 7230. If it has to cross then today or Monday should be decisive day. I am seeing today’s session as choppy one.

For today’s trading session, I am expecting market to open on flat to lower. Any downside will get support at 7125-7100 levels. On higher side we may expect resistance at 7210-7230. If it can manage to surpass 7230 then we can see a massive short covering rise. I still believe for 7500 till budget day.

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 – If opening goes around 7160 then it will be mid-way for trading. Technical charts are saying that it will go on 50-50 mode. We can expect support at 7120-7100 levels. I will opt buy if it find situation favourable for rise.

S&P 500 (USA) – This is what I have expected, few choppy sessions. I would not mind this choppy trend if market has to move higher to cross 1945. One can consider 1915 as key support. Trend can be side wise to positive as long as it holds 1915 levels. If it breaks 1915 then situation will again go in favour of bears only. cross above 1945 may be decisive but may not be an easy one.  

18 February 2016: Nifty Elliott wave analysis: Rebound from lower levels. I still expect my target as 7500+ levels.

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

For 18 February 2016: -

On 17 February 2015: FII Net Sold – INR 560.00:  DII Net Bought – INR – 384.53

I have already quoted yesterday for bounce from lower support. We saw Nifty going below 7000 and then rebounding back to close above 7100 levels. We added long at 7000 levels itself. I hope you must have added those.

For today’s trading session, I am expecting market to open on higher note. Now I am expecting levels of 7200 as of now. I am expecting levels of 7500 before Union budget. So, we should see a decisive crossover of 7200 levels. It will get this crossover by today or tomorrow.

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 – SGX Nifty is showing for start around 7180 levels. I would not surprise if this surpasses 7200 in initial minutes itself. It will be decisive to see a crossover of 7230 to claim for further strength. I am expecting this crossover. It may come by today or by tomorrow. If it fails then I will turn cautious.

S&P 500 (USA) – As expected, we got levels of 1930 now. I am expecting a level of 1945 as of now. Market may show sign of tiredness at these levels. It will be better if market can able to spend time at these levels without any remarkable fall. Technical support will stand at 1915 levels. If it can close above 1945 then we can expect 2000 levels again before getting another top. 

17 February 2016: Nifty Elliott wave analysis: Expect technical support at 7000-6990 as decisive support. A three day rise should come anytime.

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

For 17 February 2016: -

On 16 February 2015: FII Net Sold – INR 964.19:  DII Net Bought – INR – 590.73

One day of joy vanishes in a day for bulls. Nifty has almost washed all its technical support for intraday in second half. So far, SGX Nifty is giving some sign of relief but not looking so impressive. Is it like market is sensing a poor budget? This may be true. Technical charts are not saying that we can see fresh downside from here onwards.

For today’s trading session, I am expecting market to open on cautious note. If market can sustain higher then market should advance towards breaking 7200 levels. Upcoming three trading sessions may be very crucial. I am expecting support in the zone of 7000-6990 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 February future – It hit near 7042 as low which is very shocking to see. I am expecting support at 7000 levels. One can again expect a pullback if it can sustain above 7100 levels. Take a note that I am considering opening near 7080 levels as indicated by SGX Nifty. I was hoping for a strong pullback before budget and I am still expecting same.

S&P 500 (USA) – It came at 1895. This is expected in line with my expectation. Technically, if it can stay beyond 1900 then we can expect most prominent target towards 1945 levels. We may see some intermediate resistance at 1915 levels too. This market is seems to be buy in fall. Threat may not be over yet on long term trend but a short term bottom may be close before a up move. If this works then 1809 remains a short term bottom. 

16 February 2016: Nifty Elliott wave analysis: I still bet for 7500 before budget day or on budget day. 7100 can be maximum possible pullback if comes.

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

For 16 February 2016: -

On 15 February 2015: FII Net Sold – INR 1311.59:  DII Net Bought – INR – 1987.45

Global market goes on good opening for this week and it was even better for Indian market. It has closed well above 7150 levels. I am sensing for a pre-budget rally which has started from yesterday itself. It can extend well towards 7500 levels.

For today’s trading session, I am expecting market to open with gap up again as given by SGX Nifty. Technical charts are suggesting that it may see a small pullback from the levels of 7200. Use all pullbacks to buy only. I do not see the possibility of 6900 anymore in this quarter itself.

Market will do well from any pullback which can come for intraday. It will be so good if it can give a pullback towards 7100 levels. I strongly suggest buying any intraday pullback. Well, will pullback come? There is no such guarantee. GAP opening is something which is always a nightmare for intraday traders.

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 – One can start opening at 7200 levels. So it another gap up and this makes things so unpleasant for intraday traders. Wait for some pullback before acting for intraday. I can just hope to get one intraday pullback but it may not be big one.

S&P 500 (USA) – This bounce came in with my expectation. Now, it is looking to move beyond 1875 then it can cross 1900 levels too. I am firm on my view that S&P has capacity to retest 1945 in this recovery before any fresh selling. It seems that we are just in mid-way of this recovery.  My call is buy the pullbacks if comes as long as it is staying above 1825. 

15 February 2016: Nifty Elliott wave analysis: A respect for 6850 may drive a significant price recovery towards 7500+ levels again.

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

For 15 February 2016: -

On 12 February 2015: FII Net Sold – INR 398.37:  DII Net Bought – INR – 545.07

I have expected support at 6850 and saw some good reversal from same levels. Can this rebound extend today also? I am expecting this to extend. We may get levels of 7100 firstly. SGX Nifty is showing for a mammoth positive start today.

For today’s trading session, I am expecting market to open with gap up due to massive sell off past week. I expecting this gap up to remain unfilled and a recovery can extend for whole this week. Time is on for bulls to expect something from union budget next week. Technical support after opening should be at 7030-7000 levels.

I am ready to buy a panic bottom. Still my low for the year may not have done yet. I still believe for 6000. The way it came I may expect 5500 too. Let us see the recovery which can give a better idea.

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 – One can start opening at 7080 levels. A full 100 point gap up. One should wait for some price correction to buy. It should not break 7000 in any case. My favourite levels for buying may be around 7030 levels. A big recovery expected this week.

S&P 500 (USA) – This bounce came in with my expectation. Now, it is looking to move beyond 1875 then it can cross 1900 levels too. I am firm on my view that S&P has capacity to retest 1945 in this recovery before any fresh selling. It seems that we are just in mid-way of this recovery.  My call is buy the pullbacks if comes as long as it is staying above 1825. 

12 February 2016: Nifty Elliott wave analysis: A big recovery is coming next week after today’s low. NIFTY support = 6850

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

For 12 February 2016: -

On 11 February 2015: FII Net Sold – INR 1112.66:  DII Net Bought – INR – 1222.12

7000 levels have broken so sooner and so easier. This shows disbelief in Indian market now. We are unable to see any single good result. If UPA was paralysed in term of reforms then NDA is also no better. Well, I do not think that politics can be supportive in anyways.  

For today’s trading session, I am expecting market to open with gap up due to massive sell off yesterday. I see the gap has least chance to sustain on higher side. I feel that Nifty should not break 6850 levels easily. We are bound to see a rebound. I may be interested to the dip it goes around 6900.

I am ready to buy a panic bottom. Still my low for the year may not have done yet. I still believe for 6000. The way it came I may expect 5500 too. Let us see the recovery which can give a better idea.

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 – At least I was no expecting this to come so sooner. Technically, if Nifty future sustain below 7000 levels then it can be short again. It may try to make another low today also. Do not trade long easily. Well but I may opt to trade long if I can see 6900 levels. It is for sure that a big recovery is coming sooner.

S&P 500 (USA) – It came at 1809 and then took an intraday rebound. This makes sense. US market has shown better strength from meaningful support at 1800. Take a note that 1800 is the support for a massive rebound on wave formation. If it can maintain 1800 then my first target is at 1875 and then next will be at 1945. Expect better second half for the month. 

11 February 2016: Nifty Elliott wave analysis: Will support at 7200 hold? It need to hold yesterday’s low of 7177 to see any bounce.

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

For 11 February 2016: -

On 10 February 2015: FII Net Sold – INR 751.33:  DII Net Sold – INR – 196.92

Yesterday’s dent was banking collapse. NPA concern remains governing for banking sector. We saw a good bounce for intraday about 90 points but this got sold at higher levels. Technical charts were suggesting for support at 7200-7230 levels. It got a closing in the same range. Big question is that will it move higher from here or will it fall more. If breaks and sustain then 7100 is also possible.

For today’s trading session, I am expecting market to open with gap down although it may not be as big as reflected by SGX Nifty. We are now just few trading sessions away from Union Budget. Market may try to take a call for budget. Budget moves are usually counter long term trend. Hence, it may be up this time.  If it has to bounce then time is on and levels are also on. Be cautious.

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 – Nifty Future has shown some respect for 7200 but this has not shown any good sign of recovery. Bounce came as expected in second half but after a dip. For today’s session opening goes around yesterday’s low. If it shows respect for 7190 then we can expect another possible bounce. If not then some more pain left for market. Do not short lower levels after gap down.

S&P 500 (USA) – It took a jump to move above 1875 but slipped to see lower close. I have already said for not to buy these bounce unless it spends time above 1875. It is hard to say how many attempts it will take to hit or break 1875 levels. My call is to buy only and only if it can sustain above 1875 levels. So far, trend is down in limited range. 

10 February 2016: Nifty Elliott wave analysis: Banks are bleeding. Who will take care about NPA? NIFTY Support -7230!!!

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

For 10 February 2016: -

On 08 February 2015: FII Net Sold – INR 84.56:  DII Net Sold – INR – 279.49

From past few years, I kept raising my points on corporate loan default. It is just burning tax payers money. Now, time has come to disclose the big names unless this trouble can be disastrous. Bank Nifty is expected to give a big dent to Nifty. I must say that big names on banking sector are still in denial mode of trouble. This is definitely not good.

For today’s trading session, I am expecting market to open with big gap down. I am expecting easy drag on banks and rate sensitive stocks. Nifty can come near to 7240-7230 support levels. I will not prefer to short this fall as this may have short life. I am expecting a bounce from low around 7230.

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 – Do not short at the opening around 7260 which is indicated by SGX Nifty. I suggest avoid shorting although technical charts are saying for steep fall below 7230. I am considering 7230-7200 as key support for reversal.

S&P 500 (USA) – This jump continues from the support of 1825 levels. I do not think that we can expect strength unless it goes above 1870-1875 levels. I am not advising long from these levels. Do not try to catch falling knife. Global market is not in any big mode of recovery. On long term chart we cannot see big recovery in near term. I am talking about a recovery of 8-10% which is not looking possible. 

09 February 2016: Nifty Elliott wave analysis: Failure at 7530 can result 7200 easily. This time it can try to break 7000!!!

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

For 09 February 2016: -

On 08 February 2015: FII Net Sold – INR 84.56:  DII Net Sold – INR – 279.49

Yesterday, it has broken 7450 then we saw a steep 100 points dip. More important is that it has failed on dot 7530 resistance levels. How was that? We never opt long in this trap. Now I am expecting the retest of recent long. Relief rally has died brutally.

For today’s trading session, I am expecting market to open with big gap down. We may not see even 50-33% retrenchment of this gap down. Do not try to catch the falling knife.

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 – The way it has cracked below 7450 we cannot see easy recovery anymore. Although recovery remains tough since first January itself. Below 7300, we can see 100 points more for intraday. We are active on 7200 put.

S&P 500 (USA) – It hit 1828 yesterday itself before last hour bounce. This took support at our mentioned level of 1825-1800 range. I am still confident that sooner or later 1800 levels will have to break. So the time is on. For today’s session it may try to retest 1828 levels again. If things go the way I am anticipating then S&P should break 1800 levels by this week only. Do not opt long. 

08 February 2016: Nifty Elliott wave analysis: If gap down can sustain 7450 levels then 7530 is still a possibility.

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

For 08 February 2016: -

On 05 February 2015: FII Net Sold – INR 606.83:  DII Net Sold – INR – 706.02

I was expecting 7500 and it came. From a level near to 7500 we may have a chance of pullback. This pullback seems to come in the form of gap down as suggested by SGX nifty. This gap down should not make market bearish so far. I believe that it can able to move towards 7530 after a gap down start. Is a top coming near to 7530? I must say that it is litmus test.

For today’s trading session, I am expecting market to open with small gap down. It may be around 7450 but nothing to be panic. This gap down may not sustain at lower levels. I believe for 7530. It may come by today or by tomorrow then a possible top. Top at 7530 is just an indication and it is too early for confirmation.

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 – I should analyse my study from the possible opening point at 7480-7870. I believe for support at 7460-7450 levels. It this does not break then bounce is very obvious. Below 7450 I will have no hope for bounce. Time is on to act.  

S&P 500 (USA) – It has failed to sustain above 1915 and eventually came at 1880. Shall we be bearish again? Well, something is not right. Technical charts are suggesting that if it can sustain below just 1870 then we may have reasons to believe for a move towards 1825 to 1800. One should prefer to be bullish above 1915 at least. No long till then. 

05 February 2016: Nifty Elliott wave analysis: As long as it respect low of 7350 and staying above 7400 it may be up for intraday trend. Target intact at 7500!!!

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

For 05 February 2016: -

On 03 February 2015: FII Net Sold – INR 357.13:  DII Net Sold – INR – 144.78

Logically this is saving support at 7360-7350 levels. Technically, Nifty may try to hit levels of 7500 as long as it is saving 7360-7350 levels. We need to note that we can still see volatile moves. It can fluctuate in both directions as of past few trading sessions. There are many sectors which are still trading lower.

For today’s trading session, I am expecting market to open with small gap up. If this does not fill the gap then we may see 7500+ levels. It may not be easier but possible. Today is the last trading day of the week. We may see some decisive moves. I am biased for long for the day.

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 – I need to say that technical indicators are not supportive and hence we see volatile on both sides. Nifty may get intraday support at 7390 and at 7360. On higher side if it can sustain above 7460 then we can expect levels of 7500 or nearby. I am assuming that market will give some gap up opening today which may not be filled.

S&P 500 (USA) – My study remain same for the day. This is making chart more interesting. Technically, above 1915 it will be played by bulls again. It will get intraday support at 1905-1900 levels. Be prepare, we may see another hit towards 1945 now. It may come within few days. I prefer long above 1915 with smaller possible stop loss. 

04 February 2016: Nifty Elliott wave analysis: If 7360can earn respect then 7500-7530 may be possibility again.

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

For 04 February 2016: -

On 03 February 2015: FII Net Sold – INR 357.13:  DII Net Sold – INR – 144.78

I quoted for support at 7360 and it hit a low at 7350 to close at 7360. I still consider that Nifty is on good support now. I am seeing a bounce in the market. It can hit 7460 to 7500 or somewhere in this range. If yesterday’s low has some respect then market may move higher for two days including today.

For today’s trading session, I am expecting market to go up only. Consider support at 7350 and use every dip to buy. Unfortunately it is going to be gap up now.  After gap up, I will wait for some dip to act on long. My choice to buy is definitely not banking stocks. Weak horse never wins the race. Pharma stocks are my favourite.

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 – I will trade long today and tomorrow. I will use intraday dip to buy only ignoring all technical indicators. It is one such rare time where charting technical indicator and wave theory has different views and I am going with by wave theory based buy. Let us see if this can work. My stop loss at 7360 and target is 7530.

S&P 500 (USA) – It got another bounce from lower levels to see an intraday gain of 40 points from the bottom. This is making chart more interesting. Technically, above 1915 it will be played by bulls again. It will get intraday support at 1905-1900 levels. Be prepare, we may see another hit towards 1945 now. It may come by this week itself. It means by tomorrow. 

03 February 2016: Nifty Elliott wave analysis: So, how was 7610 and how many has added short? Logical target is 7360 and then 7200.

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

For 03 February 2016: -

On 02 February 2015: FII Net Sold – INR 113.98:  DII Net Sold – INR – 323.23

It has broken 7500 levels and low hit at 7428. I have already given a hint for shorting on rise. Take a note that 7610 was first anticipated by us and it acted perfectly. So if it goes the way I am seeing then we can expect 7200 as short term target. This target may come sooner or later.

For today’s trading session, we may get a down opening. This downside opening may not fill and it may go to hit many lower levels. Technical charts are advocating for a target around 7360. If it opens around those levels then fall can extend towards 7300 also.

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 – We added some put options for positional deal and deal with short on Nifty Future in last hour of trade. This gave well. Technical chart are suggesting for first around 7400 levels. If it breaks those levels then one can expect further 60-70 points fall by intraday only.

S&P 500 (USA) – It has broken 1915 and we saw a fall of around 1% from that levels and this goes on expected line. I have already said yesterday that below 1915 it will invite around of selling and futures are indicating same. Technically, as long as it is staying below 1945 it will try to hit 1860-1850 levels. Intermediate resistance will be at 1915 levels.   

02 February 2016: Nifty Elliott wave analysis: 7610 is still a decisive resistance and support exists at 7500 levels.

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

For 02 February 2016: -

On 01 February 2015: FII Net Bought – INR 253.88:  DII Net Sold – INR – 535.70

I was expecting a pause at 7610 levels and it has shown the pause near same level for first day of the month. I am still not saying that it can be a final top before fresh sell off. Just one red candle is not a sell. Based on support we can conclude that so far market is up as long as it holds 7500 levels. I still have warning for 7610. Failure at 7610 is not good. Market may make another attempt to break higher.

For today’s trading session, we may get a flat opening but market is not looking to give good trading range. Do not trade if range limits in 20 points. I still believe that market will short respect for 7530-7500 as support zone. Once again, if it turns weak at 7610 then it is a sell.

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 – I repeat, no signal can be strong for short unless it go below 7500. Problem is that market is almost 1% higher compared to meaningful support. I believe that market is looking for support at 7530-7500 levels but with equal magnitude it will face resistance at 7610. Shall we short on rise? I am sure that most contrarian trader will be active at 7600+.

S&P 500 (USA) – Us market may undergo in the mode of consolidation and it is up as long as it is above 1915. Decisive cross over is expected to be above 1945 levels only. The range of 1915 to 1945 will give limited trading opportunity. I favour buy as long as it holds 1915. It has chance of hitting lower again if it breaks and sustain below 1915 levels.  

01 February 2016: Nifty Elliott wave analysis: First logical target is at 7610. It can be make or break levels for the week too.

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

For 01 February 2016: -

On 29 January 2015: FII Net Bought – INR 571.70:  DII Net Bought – INR – 240.02

First day of the derivative month was a good one after red January month. It gave breakout above 7500 and above 7530 as well. The next logical target is expected to be at 7610 levels. If this target has to come then today is the best time to hit. Be on the fair side, it can able to hit 7800 marks too if it can see few close above 7610 levels. If it has to fall then we may see higher selling any time after hitting 7610 on failure.

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 – I must say that closing above 7500 itself is so encouraging. We can expect opening around 7600 and then we may go for one more buy mode for intraday in a dip. Still a condition, low should not go around 7540-7530 support to maintain a buy. If it breaks 7500 by anyway then it may be first signal for bad February month.

S&P 500 (USA) – I must say that it is delayed move. It gave a signal for 1945 few days back but it is hitting 1945 after a mild down day. So far it is good. Cross above 1915 has generated the target of 1945 and it travelled this long distance in a just a day. I cannot say to buy immediately. As long as it is above 1915 it is a buy or if it can spend time above 1945 then also it is a buy. It is safer to buy from levels nearer to 1915 to maintain better risk reward ratio.