31 March 2016: Nifty Elliott wave analysis: Can we expect expiry to end at 7800 +? I see a possibility if it can stay above 7750.

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

For 31 March 2016: -

On 30 March 2015: FII Net Bought – INR 1442.47:  DII Net Sold – INR – 396.90

It was a great rally yesterday lead by banking index. Eventually, Nifty closed near to meaningful resistance of 7750. We have derivative expiry today. We can see tremendous volatility today. Logical charting conclusion is a buy above 7750. If it can spend time above 7750 then we can see levels of 7850 to 7900. This target of 7900 levels may take some time to hit but it is definitely a possibility once it closes above 7750.  

I still keep my words of caution. Take a note that 7650-7670 will act as zone of resistance. Only if it can surpass above 7670 then only I can opt to buy for retest of 7740. Failure @ 7670 will be a sell on rise again. As we are near to expiry so I will take real time call only.

For today’s session, I am expecting a flat start. Today is derivative expiry and I may not prefer to be very active as I least prefer to trade expiry day. If I have to pick a trade then I will prefer to pick a long if it can spend time above 7750 levels.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

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 April future – I am not very keen to trade but I feel that it can move advance. I am expecting expiry to come near to 7900 but that’s my hope on certain conditions. A bullish breakout can give such levels. Technical support is at 7750. Below 7750 I will not remain bullish.  

BANK NIFTY – A logical resistance is at 16150 where it has closed yesterday. I am not saying short. It can give a conditional buy. If it can spend time above 16150-16200 levels then it can see further 2% gains. I am expecting a level of 16500-16600 levels. It is true that this rise came after Mr. Mallya’s proposal of paying Rs 4000 crs to bank. We are near to next credit policy and today it derivative expiry day. Be careful. 

30 March 2016: Nifty Elliott wave analysis: Support 7570 is working so far. Can it take “U” turn from this support?

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For 29 March 2016: -

On 23 March 2015: FII Net Bought – INR 2042.94:  DII Net Sold – INR – 2494.44

Nifty got sold at top again to close near 100 DMA support. I have already quoted for support at 7570 which has not broken yet. We have derivative expiry tomorrow and market set up for a gap up today. It may not be a big one but definitely a meaningful one.

I still keep my words of caution. Take a note that 7650-7670 will act as zone of resistance. Only if it can surpass above 7670 then only I can opt to buy for retest of 7740. Failure @ 7670 will be a sell on rise again. As we are near to expiry so I will take real time call only.

For today’s session, I am expecting positive start. It may be in the zone of 7650-7670 itself. After opening it need to maintain support at 7630. If not then a dip may hit. This time 100 SUPPORT and 7570, all may be tested.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

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 seeing a possible resistance to come at 7670-7680 levels after a gap up. If this can spend time above resistance then only it can be a buy. Based on pure charts, it can turn a SELL either @ top or the break below 7630-7620 levels. What’s coming a day before expiry?

S&P 500 (USA) – It turned a great day on Wall Street last night. It has crossed 2045 and moved by 10 points more. I had a conviction for 2100 levels from past few days. Only thing is that this rise was expected next week. No worry if it comes earlier. As of now I am seeing the possibility of 2100. It may come by this week or next week. 

29 March 2016: Nifty Elliott wave analysis: My call “SELL @ TOP” worked yesterday and it can work even today. Technical resistance = 7650-7670!!!

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

For 29 March 2016: -

On 23 March 2015: FII Net Bought – INR 2042.94:  DII Net Sold – INR – 2494.44

So it make a top in very first minutes yesterday and then kept on falling till last. This is what we have predicted for yesterday. Once again 7730-7750 will not take out so easily. Today is Tuesday of the expiry week and expiry effect may come in full form.

I advise strong precaution to trade on both sides. Do not take any move guaranteed. I was expecting 7600 in price correct which has done yesterday itself and we are out from out shorts now. I may opt to short again today but I am not fully convinced yet. Still, most likely that I will add short again today.

For today’s session, I am expecting flat to little positive start. 7650 is the level to watch out for resistance. Lower side support comes at 7570. Below 7570, get ready to see 7500. Take a note that 7530 support may not have meaning now.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

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 may make a switchover to April month series. If I have to trade March Future then I will look for resistance to come at 7690-7700 levels. This may be a suitable level to short. It is too early to say if I can opt shorting or not but most likely I may opt shorting. If this works then we may see another 100 points dip from intraday high. Now, predict the top????

S&P 500 (USA) – I already have a view that US market will undergo consolidation till March end. It goes in the same way with positive biasing but almost a flat closing. This kind of trading pattern will continue for this week. I do not see any major trading opportunity. Important is the upcoming range. If it can close above 2045 then 2090-2100 can be a possibility.   

28 March 2016: Nifty Elliott wave analysis: Failure at 7730-7740 can cause “A SELL” @ top. Can it cross to give higher expiry?

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

For 28 March 2016: -

On 23 March 2015: FII Net Bought – INR 976.91:  DII Net Sold – INR – 1022.58

Welcome after a long weekend. We are in derivative expiry week. I have already quoted for the resistance of 7730-7740 in past two trading sessions. Equally, if it can successfully surpass the given resistance then 7800-7900 is a also possible. Technical charts are suggesting that market may go on decisive mode. I must say that failure at higher levels can itself drive a Sell signal.

So far, I am anticipating softness near resistance at 7730. I am impressed with strength in many stocks. Have look on stocks like Tata Steel, which were at 200 few weeks back and now it is at 300+. I am not a buyer on index now in general case. If it can surpass 7740 then only I can think to trade long.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

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 – We may expect opening around 7700-7690 only. It will face technical resistance at 7740-7750. Once again, question remains same, can it cross 7740-7750. My answer remains same. If it failed at 7740-7750 then it can generate a sell. A sell for the target towards 7600. Somehow, global cues looks dull.

S&P 500 (USA) – I am keeping my study same. Market is looking under consolidation mode before any decisive move. It is still likely to move towards 2100 as long as it holds 2030 levels. I am seeing a rise after consolation but for long term direction this market is exit on any rise. Trades may not be easy as range can be small. We may see the ending of March 2016 at 2030 levels.

23 March 2016: Nifty Elliott wave analysis: Longer it sustain above 100 DMA, it can give 7900 also on or before expiry day.

  

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For 23 March 2016: -

On 22 March 2015: FII Net Bought – INR 1095.44:  DII Net Sold – INR – 930.37

Today is the last trading day of the week and market will open directly on Monday with expiry week. This fact can restrict market from going higher. It is equally true that as long as Nifty is staying above 100 DMA we can expect a UP and may be a very UP expiry.  

So far, I have anticipated for 7800 on rise but I must add that if market gets desired fuel then 7900 may also be possible. I have a strong view that market will make a top with rate cut.

For today’s trading session, Market may open flat but with dull trade. I do not prefer to trade today. Technical charts are saying for an up move to sustain as long as 7650 levels. I still expect 7800 but I have no idea about timing due to holidays.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

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 – We may expect opening around 7730 only. It will face technical resistance at 7740-7750. If it can surpass 7740-7750 then one can expect 7800 levels on higher side. Technical support should emerge at 7650 levels. Shall we buy dip? Well, only time can answer. One thing is for sure that if it miss 7740-7750 on higher side then it is a sell for some limited gain. Alter sense is buy above 7750.

S&P 500 (USA) – I am keeping my study same. Market is looking under consolidation mode before any decisive move. It is still likely to move towards 2100 as long as it holds 2030 levels. I am seeing a rise after consolation but for long term direction this market is exit on any rise. Trades may not be easy as range can be small. 

22 March 2016: Nifty Elliott wave analysis: I anticipate a top with Rate cut in next monetary policy. 7800 is a possibility before event.

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

For 22 March 2016: -

On 21 March 2015: FII Net Bought – INR 1396.33:  DII Net Sold – INR – 618.77

Has market discounted a 50 basic point rate cut in next monetary policy review? Well, no one knows the answer exactly. I can anticipate one view – A top with rate cut. Now, next question is what can be a possible Nifty value at top? This is tough but traders always need to hunt for this kind of value.

My anticipation is that no top can go higher than 7800 as of now. Remember we have a very short week. This makes me feel that market will either go range bound of may see some selling from higher in zigzag manner.

I have anticipated for a possibility of 7700+ once it stays above 7630 and we got that desired move.

For today’s trading session, Market may open flat but we will see massive resistance emerging at higher end. Interesting is that – Is it crossing 100 DMA or will it top at 100 DMA.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

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 – We may expect opening around 7700 only. It will face technical resistance at 7740. If it can surpass 7740 then one can expect 7800 levels on higher side. During trading hours we may get signal – either we can buy above 100 DMA or we can short below 100 DMA. Do not opt easy contra deals as it may be misleading.

S&P 500 (USA) – I am keeping my study same. A up as long as 2030 holds. It is good to see S&P moving above 2045 with ease. Technical charts are suggesting that a move towards 2100 may come. A trading correction may hit but all such may turn to be opportunity to buy. I must say that 2030 is a level below which traders should avoid long for caution. Next quarterly earnings will be a decider for rest of the year. I must say that I still intact on my long term direction which is down and this rise is one strong bounce for exit.   

21 March 2016: Nifty Elliott wave analysis: 7700 is a destination if it can stays above 7630 for some time.

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

For 21 March 2016: -

On 18 March 2015: FII Net Bought – INR 1712.62:  DII Net Sold – INR – 403.37

Well, rate cut on saving should have been highlighted by media group but no one has focused. Is this the way to recovery NPA??????????????????????????????????

Government is definitely cooking something nasty. It has no sense and please keeps me out from any illogical political logic. It has nothing to do with bond yield. Indian economy will not get any good out of these steps. I am sure NDA leaders would have opposed all such steps if these decisions would have taken during UPA tenure.

Based on wave chart, a topping pattern may emerge anytime. On other charting sense based on moving average suggests me that if Nifty manages to close above 7630 then a move towards 7700 is strongly possible.

For today’s trading session, Market may open higher a little. I will not prefer to buy in first half in any case. While if Nifty stays well above 7630 till second half then I will opt to trade long.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

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 – We may expect opening around 7630 as reflected by SGX Nifty. Unless it goes above 7650, I do not think that bulls can play it brave way. Let it settle higher for first half and if it can sustain above 7650 then only think to buy.

S&P 500 (USA) – It is good to see S&P moving above 2045 with ease. Technical charts are suggesting that a move towards 2100 may come. A trading correction may hit but all such may turn to be opportunity to buy. I must say that 2030 is a level below which traders should avoid long for caution. Next quarterly earnings will be a decider for rest of the year. I must say that I still intact on my long term direction which is down and this rise is one strong bounce for exit.   

18 March 2016: Nifty Elliott wave analysis: Will it cross 7600 or will it die before 7600? Today we will get answer.

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

For 18 March 2016: -

On 17 March 2015: FII Net Bought – INR 744.49:  DII Net Sold – INR – 168.38

We saw intraday dip of 100 points from higher levels leaving bulls stunned in last minutes of trades. I must that this may have happened due to resistance of 100 DMA. I was expecting this. I am not too negative but I still expect price correction with consolidation. As long as 7400 holds on Nifty spot, short term direction will remains up.

For today’s trading session, Market may open higher backed by rise in US market. Shall we buy? My answer is no. 7470 may act as good trading support while 7600-7630 is a key resistance. Trading opportunity will be on weaker side for short. Wait for intraday signal of weakness. Expect nervousness from some levels. I feel that market has done with expectation of rate cut.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserve to be part of everyday article.

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 – We may expect opening around 7530-7540. Unless it goes above 7600, I do not think that bulls can play it brave way. If it give up early gain then we may have good chance of slide but only if short signal emerges. Let us see.

S&P 500 (USA) – It took out 2030 resistance we saw a very healthy gain on Wall Street. It has a chance of hitting 2075 levels. Please take a note that 2045 is a mild resistance area based on charting. It had a multiple time support at 2045 when it was higher few months back. Now, that support may act as resistance but so far direction looks up.  

17 March 2016: Nifty Elliott wave analysis: 7400 has turned as “U” turn support. Do not remain bullish @ 100 DMA, i.e. 7630.

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

For 17 March 2016: -

On 16 March 2015: FII Net Sold – INR 625.58:  DII Net Sold – INR – 680.16

I have strongly quoted for the short term support at 7400 and Nifty took a “U” turn from 7405. We unwind our short and opt long on few out of money call options. It looks like we turn lucky with support at 7400 levels. I am must add, I will give up long in time by today itself.

For today’s trading session, Market may open at 100 DMA which is running at 7629 levels. This is prime reason that I am not much interested to buy again. There is a talk and strong hope of rate cut in next monetary policy review. Take a note that if these turn shy at 7630-7650 then an intraday profit taking is expected.

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 not active on index future now. We worked on out of money call options but we will give us today. If possible, I may opt shorting near 7650 with some small stop loss. Let us see if this works but firstly I have to give up my out of money call options. I must say, I am expecting a strong rate cut.  

S&P 500 (USA) – I am not on trade on this index as quoted earlier. I am waiting for 2030 to be taken out. It has shown multiple sign of this cross over in past few days and it may able to surpass. This is just a hope. If this happens then we can expect a move towards 2070-2085 levels. This is best past of US market, a reliable recovery used to come on the time when people want it.    

16 March 2016: Nifty Elliott wave analysis: 7400 is a short term support. If breaks then we may see troubles for index.

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

For 16 March 2016: -

On 15 March 2015: FII Net Sold – INR 54.01:  DII Net Sold – INR – 302.31

A high goes at 7583 and then also we saw a fall from high. This suggests that we may not see fresh buyer at higher levels. I still quote that technical support is at 7400 levels. I still believe that Nifty not see easy cross for bulls for next rising wave.

For today’s trading session, we may see opening around 7480-7490 levels itself. We may see immediate resistance at 7530 levels. Will it see traditional sell off from higher levels. If it breaks and sustain below 7450 then we may expect levels of 7400 levels. General market direction may be –Down from top.

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 still keeping by view bearish for index or choppiness near 7550 resistance levels. Market may remain positive for first half but we may see selling in second half. I will prefer fresh shorting if it gives sign of weakness.

S&P 500 (USA) – Well, this goes with the suggested roadmap. Technically, 2030 is still a stiff resistance irrespective of news flow. Question is will it break the barrier? There is no question of if. As long as it stays in the range of 2000-2030 we may not see any direction. If possible then traders should avoid US indices due to range bound activity. Wait for fresh break out.   

14 March 2016: Nifty Elliott wave analysis: Once again 7550 is crucial and critical “Make or Break” levels.

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

For 14 March 2016: -

On 11 March 2015: FII Net Bought – INR 378.36:  DII Net Sold – INR – 432.81

So far, bulls are giving their best to break 7530-7550 resistance levels. If it fails then market may change direction. If not then also we may not have much steam left in the market. It can extend max to 7600 levels.  It may be looking strong but this may be misguiding.

For today’s trading session, we may see opening around 7530 levels itself. We may see immediate resistance at 7550 levels. Do not be bearish unnecessarily.  Technical charts are suggesting that above 7550 it can extend some gain. My long term study remains same as of past few months.

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 –7550-7560 is made or breaks levels. Below 7470-7460, we may expect dip after higher opening. One should wait for the sign of weakness from higher levels. If this desired signal fails to come then it may generate a buy eventually. I may be a buyer but I will look for opportunity to be on short side on weakness.

S&P 500 (USA) – This good move came at a point when bulls might have lost their patience. S&P is going to hit 2030 levels. Well, one can a price correction will be very much expected from current levels. Equally, if this can stand above 2030 then a possible move towards 2060 is expected. So 2030 should act as make or break levels. 

11 March 2016: Nifty Elliott wave analysis: I hope 7547 remains a short term top. I opt sell on rise but not to remains short above 7550!!!!

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

For 11 March 2016: -

On 10 March 2015: FII Net Bought – INR 1063.11:  DII Net Sold – INR – 598.03

We saw almost 100 points intraday dip from top. I have already quoted about the importance of 7550 in last trading session. We saw a top at 7547. Well, it seems that it should a short term top but we need a confirmation. I believe that if market closes in red today then we may see a turn around. Take a note that 7400 is still a short term support. As long as it holds 7400 we can expect multiple bounce from low. Above 7550, do not remain bearish.

For today’s trading session, we may see opening around 7490 as hinted by SGX Nifty. I believe that market may not hold this kind of levels for long for today. If it sustain below 7460 then one can expect a move towards 7400. Can we get this? This is still under doubt.

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 – We may see opening around 7490 and we may get a sell signal in first hour itself, if it can able to make crucial top. Do not try to speculate the index for few days. 7550-7560 is made or breaks levels. Below 7470-7460, we may expect dip. Friday factor may govern.

S&P 500 (USA) – We saw a dip and then a last hours recovery. This makes sense to the support of 1960. As long as it holds 1960, bulls will not give up so easily irrespective of events. Now the time is still for dull trade in the zone of 1960 to 2000. I strongly believe that the range of 2000-2030 is a zone of stiff resistance and will not cross sooner. My call is short from high, may be from 2000+

10 March 2016: Nifty Elliott wave analysis: Multiple resistances above 7530. It may not be easy to cross but it’s not short as of now if stays above 7550.

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

For 10 March 2016: -

On 09 March 2015: FII Net Bought – INR 462.86:  DII Net Sold – INR – 823.56

A hit above 7530 and a close above 7530 have forced me to believe for some more upside left. In true sense, if this manages to stay above 7530 then it may be short term buy breakout. I am still saying that we need more confirmation. It may not be easy to sustain above 7550 either. Let us see.

For today’s trading session, we may see opening around 7520. This suggest that if this sustain below 7490 in first half then we may expect big sell off in second half. Still, I do not suggest for shorting as of now but we may take a deal during trading hours.

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 – We may see opening around 7525 and we may get a sell signal in first hour itself. Do not try to speculate the index for few days. 7550-7560 is make or break levels. Can we get a short at top? Who knows?

S&P 500 (USA) – So far, it goes as per my road map. It has saved 1960 and trying to make hit for 2000 levels. This level may turn as flop flip flop zone. I still consider that 1960 is a good support to deal but I am not too confident for buy either due to multiple resistances at 2000-2015-2030 marks. Hopefully, up side may have some steam left but levels may not be too big.  

09 March 2016: Nifty Elliott wave analysis: First sell signal is failure at 7530 itself. If breaks 7440 then we may see 200 points dip in few days.

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

For 09 March 2016: -

On 08 March 2015: FII Net Bought – INR 775.07:  DII Net Sold – INR – 1341.51

So how was 7530? It worked in last trading session as a dot. This makes sense. Yesterday’s low is the last hope. Technical charts are suggesting for short at current levels. We have already added shorts. I am expecting a target of 7250-7225 zone based on wave target. Although, this sell signal will get better confirmation below 7440.

For today’s trading session, we may see opening around 7450. This suggest that if this sustain below 7440 in first half then we may expect big sell off in second half. Still, I suggest shorting every rise. Stop loss can be at 7530 or little higher.

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 – We may see opening around 7420 and we may get a sell signal in first hour itself. Do not try to buy index for few days. If this slips with strong sell signal then we may see a dip of 200 points in few days.  

S&P 500 (USA) – I have already said yesterday not to buy as it may turn to sell anytime. It has turned to sell yesterday and I am expecting a least target around 1960 levels. Remember, if it breaks 1960 then we may see lot of pain coming back again. So far, it’s has moderate sell signal but this can intensify anytime. Just short the rise. 

08 March 2016: Nifty Elliott wave analysis: Resistance is still applicable at 7500-7530 and we may see a price correction from here.

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

For 08 March 2016: -

On 04 March 2015: FII Net Bought – INR 671.57:  DII Net Sold – INR – 533.10

Market is going to open after a long weekend. In my view my expected levels of 7500 has done and market may turn soft any moment. One must note that 7500-7530 will offer stiff resistance. This suggests that we may not have good range for upside immediately without any price correction.

For today’s trading session, we may see opening around same levels as of last trading session. I have already said on Friday that this may be last ride for rise. Technical support will stand at 7425-7400 levels. A possible sell signal will emerge on break and close below 7400 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 March future – We may see opening around 7470 but it may not be sign of strength. I am expecting stiff resistance at 7500 levels. Let us see if this breaks from higher levels as I am expecting. This may be opportunity to add short. So far this is an anticipation.

S&P 500 (USA) – This hit the levels of 2000 and the desired target has done. Technical charts are advocating for a price correction. If things goes in favour of bulls then it will not going to break 1960. This is just study based support which should not break. I have already quoted for resistance in the zone of 2000-2015. Do not plan to buy the dip immediate as it may turn to be a strong sell any moment. 

04 March 2016: Nifty Elliott wave analysis: Nifty to test 7500-7530 resistance mark by opening itself. A correction may hit from high.

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

For 04 March 2016: -

On 02 March 2015: FII Net Bought – INR 1437.50:  DII Net Sold – INR – 593.67

Once it is above 50 days moving average then it may not see easy dip. Well, but one has remember the important of 7500-7530 resistance mark. It is nothing but the previous short term low which may act as resistance now.

For today’s trading session, we may see last rise for trading purpose. It cannot be said if this rise can sustain. I strong suggest avoiding rise to trade long now unless it surpass well above 7530. One correct is due and it deserves. It can come anytime.

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 – We may see opening around 7470 but it cannot sustain. Volume is turning thin. Technically, it has moving towards extreme resistance now. One should avoid trading long from 7500 levels. Correction may hit from higher levels.

S&P 500 (USA) – Now, it is in the striking distance from 2000 levels. This is the time to go cautious. If S&P has to undergo price correction then it can come from 2000-2015 resistance zones. It is not going to be easier any more. Even if it has to go higher then also it will go under time consolidation. In short, brave bulls have done their work. Now, it is turn for second bull. 

03 March 2016: Nifty Elliott wave analysis: Nifty may challenge 50 DMA range. Expectation is open for 7400-7425.

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

For 03 March 2016: -

On 02 March 2015: FII Net Bought – INR 1437.50:  DII Net Sold – INR – 593.67

Nifty is suddenly looking to move near to the 50 days moving average. Hence, I am expecting levels near to 7400-7425 as of now. Technical set up looks too bullish to believe. Technical support will remains at 7300 levels from now. Expect two days of rise more from here onwards too.

For today’s trading session, we may expect another gap up backed by SGX Nifty. Gap up may limit intraday gain but overall trend remains bullish. We may see an intraday dip due to overbought hourly chart. I suggest buy in dip.

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 – SGX Nifty is suggesting that opening can go around 7420. Market is still moving on expectation of rate cut. It is looking as 7410 will take out on gap up. If that happens then I suggest to wait for intraday dip to buy. Take a note that if it slips below 7320 in any dip then avoid long.

S&P 500 (USA) – It is moving towards 2000 levels. It seems that in upcoming two trading sessions it will achieve levels of 2000. We can think about profit taking only after that. Short term trading support will remains at 1960 and no threat of this up trend as long as it is staying above 1960.  

02 March 2016: Nifty Elliott wave analysis: Another big gap upcoming, it can extend to 7400 levels too before profit taking.

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

For 02 March 2016: -

On 01 March 2015: FII Net Bought – INR 2912.59:  DII Net Sold – INR – 829.59

A possible rate cut has driven market and it went up again after budget day. There are talks of 0.50% rate cut this year. Technically, Nifty has crossed 7100 and entered a zone of strength. We got 50 points gap up and then further 150 points more. Now, it is ready to take almost 100 points gap up today. So practically, we may see opening above 7300 levels. This push me back from trading activity due to sharp move with gaps. Still, I prefer to buy in dip.

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 – SGX Nifty is suggesting that opening can go around 7330. Market is expecting rate cut. It has crossed 7130 and got the desired boost. From 7330, I do not see reasons to act. It’s heavily over bought in price term in very small time. If a dip has to come then 7410 will act as resistance.

S&P 500 (USA) – Well, it has saved 1930 and crossed 1945 yesterday. Eventually it went to hit almost 1980. It is coming towards expected 2000 levels. Technical set up is showing possibility for a move towards 2000 levels. I am expecting trading support at 1975 and short term support at 1960. Think – if this can cross above 2000 levels then what can be levels. 

01 March 2016: Nifty Elliott wave analysis: It is only the possibility of Rate cut which saves market. If does not come then 6850 will repeat.

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

For 01 March 2016: -

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

Well, the media is presenting this is not “a budget” this is “the budget”. This is not making sense. I do not see anything impressive. It may not be productive for stock market. Multiple taxations remains a concern but lot more we were looking for a road map for improving economy. Take a strong note that no one is caring about falling export. They just want to present positive to hide prime concern. Refuelling PSU banks? Again? Is this a way to spend tax payer’s money? I always have been the strong critic of this idea.

Another strong point is – imposing TAX on PF money. Just think – government has not spent the money collected by Education cess. This amount is somewhere near to 1.40 lakhs. In short, I say that this budget is not going to save market. It has saved a disaster which count has happened on bad budget. Give only that much value. Only good thing is that it is not as bad as it could have happened. If crude price would not have fallen so much then you cannot even imagine the situation but that day has to come sooner or later. Whoever is giving IDEA to this government is again like the one UPA has. Remember Mr. Montek Singh Ahluwali.

For today’s trading session, I am expecting a flat to positive start. If you think that a good budget has saved market then I must inform you that market has reacted on the possibility of bank rate cut. Nothing else. If the desired rate cut does not come sooner then market will surely react to hit or break 6850 again. I will look for another resistance at 7100. If it can cross and sustain only I can think to be buyer.

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 – SGX Nifty is suggesting that opening can go around 7060. Market is expecting rate cut. Will bank rate come? This is where market is betting. Let us see if it comes or RBI governor deny again. Technical support is at 7000 and resistance is at 7130. Unless it cross above 7130, I see less reason to buy.  

S&P 500 (USA) – This is definitely a point of concern. An intraday top at 1959 and then closing came near 1930. Technical charts are suggesting for a fresh possibility of fall if this breaks 1930. I have already said yesterday that market is showing a lot of hesitation in staying above 1945. It looks like market is missing booster for 2000.