29 July 2016 - Unable to update pre-market analysis due to heavy rain fall in my area. Still,my levels are same as yesterday!!!

29 July 2016 - Unable to update pre-market analysis due to heavy rain fall in my area. Still,my levels are same as yesterday!!!
Please refer to my previous article, dated 28 July 2016.
I still see resistance at 8655-8680 !!!

28 July 2016: Nifty Elliott wave analysis: Do not trade on expiry day. Take holiday!!!

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

For 28 July 2016: -

On 27 July 2016: FII Net Bought – INR 404.69 Crs:  DII Net Sold – INR – 152.47 Crs

Well, so we are on derivative expiry day and market may remain up and dull. Market has given sign of correction but it never gave any follow up of trade on correction. Technically, 8650+ levels may remain a tougher resistance before hitting 8700 levels. I must say that market will be unpredictable on expiry day. I feel that correction should come but that will come only if it can break 8570 kind of levels. Those levels are still far away.

I am not changing my view for today too. Levels remains same as of yesterday.

For today’s trading session I am expecting market to open on positive note but it will face resistance at 8650 levels. In the lower side 8570-8560 should be support. We can expect some heavy resistance on higher side. It may not find it easier to cross resistance of 8650. Well, it is derivative expiry and one propelling force can destroy all resistance. This force can be short-covering. Will it come? I do not know yet.  

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty August future – I prefer to stay away from trade in normal circumstances. I like to see how it reacts after opening hours. If it fails to rise then a decisive fall may come before expiry. I am extremely cautious before derivative expiry. I must save my trades from any kind of short covering. No rally can be more enjoying that short covering. If fall has to come then it can come below 8610 only.

BANK NIFTY – This turned as laggard compared to blue chip index. This is my only worry point but I am still optimistic. Good decisive cross over point is 19200. It has slipped again before 19200 and my worry continues. Technical charts are saying to avoid this index as long as it is below 19200. From near to this levels, this index is not safe for bulls. 

27 July 2016: Nifty Elliott wave analysis: 8650 may as resistance now. Derivative expiry can go higher only if it can see short covering.

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

For 27 July 2016: -

On 26 July 2016: FII Net Bought – INR 670.89 Crs:  DII Net Sold – INR – 418.29 Crs

I feel that market is facing resistance at higher levels near to derivative expiry. Remember that this is 700 points old rise. At some point and at some stage, it has to face resistance. We have derivative expiry tomorrow and market may go in unpredictable mode. It has shown early sign of tired move in second half yesterday. In general, I prefer to avoid trading near to expiry.

For today’s trading session I am expecting market to open on positive note but it will face resistance at 8650 levels. In the lower side 8570-8560 should be support. We can expect some heavy resistance on higher side. It may not find it easier to cross resistance of 8650. Well, it is derivative expiry and one propelling force can destroy all resistance. This force can be short-covering. Will it come? I do not know yet.  

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty August future – I came off my long yesterday at 8685 levels and then we saw fall in second half. We have added short yesterday at 8665+ levels before seeing fall. I like to see how it reacts after opening hours. If it fails to rise then a decisive fall may come before expiry. I am extremely cautious before derivative expiry. I must save my trades from any kind of short covering.

BANK NIFTY – This turned as laggard compared to blue chip index. This is my only worry point but I am still optimistic. Good decisive cross over point is 19200. It has slipped again before 19200 and my worry continues. Technical charts are saying to avoid this index as long as it is below 19200. From near to this levels, this index is not safe for bulls. 

26 July 2016: Nifty Elliott wave analysis: I will not surprise to see expiry happening at as high as 8800? We got expected breakout at 8600.

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

For 26 July 2016: -

On 25 July 2016: FII Net Bought – INR 891.01 Crs:  DII Net Sold – INR – 67.89 Crs

I have added long in last trading session in Nifty August month future and few stocks futures. All gave us good before close. I put up a logic that once it is above 8600 then we will live on the edge of short covering and I think that we got that. I added long before 8600 on the anticipation of cross over 8600. The way it is going we have possibility of another good rise today. So where will we see derivative expiry?

For today’s trading session I am expecting market to open on positive note. The first logical target that I am anticipating is at 8700 with support around 8600-8580. I suggest staying long will expiry. I will not surprise to see expiry happening at 8800 levels. I have already quoted that on the break of 8600 we can see 8800. Is the time on now? Remember, I am bullish on this market from the day we got the breakout at 8000.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty August future – It has crossed higher resistance and we were able to see the higher close. I am impressed enough to rate it as a buy. Technical charts are justifying the possible target of 8750. Let us see what is coming. We have added long from 8625. If time favours then I will definitely hope for a move towards 8800 levels before expiry. Do not short.  

BANK NIFTY – This turned as laggard compared to blue chip index. This is my only worry point but I am still optimistic. Good decisive cross over point is 19200. Once it starts trading above 19200 then we can hope for a sharp move towards 20000 on Bank Nifty. I do not follow fundamentals or news flow. I listen what charts are saying. If it is saying buy then I am on buy. 

25 July 2016: Nifty Elliott wave analysis: Nifty is still looking tired but some decisive direction can emerge anytime now.

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

For 25 July 2016: -

On 22 July 2016: FII Net Bought – INR 437.78 Crs:  DII Net Sold – INR – 365.67 Crs

We spend full 10 days in the same range and market has entered in to expiry week. Market is still on consolidating mode. I am not very keen in trading as market is just in range and almost turned unpredictable for next direction. I still see a possibility of correct but it looks like market was looking for time correction only. In that case we may see fresh up move to begin sooner. I like to wait before adding fresh trades.

For today’s trading session I am expecting market to open on flat note. Nifty is still facing hurdle at higher levels near 8600 levels. Today will no different day. Hopes are on side line but strong bulls are not entering in market. Market may prefer to wait for decisive move. Let us see if it can break the range of 8600 to 8470. Whichever side it breaks, we can get a great move in that direction by this week. It can be 200 point up or 200 points down.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – Higher resistances are still applicable and we are now about to see the possible price correction. Let us see if we get or not. At the break of 8490 it will slide towards 8410-8400 levels. Strong caution is advised at higher levels. Will it able to surpass higher resistance levels as it is far up from support.

BANK NIFTY – It has broken 18700 and showing sign of weakness. As long as it is staying below 18700 we cannot expect strength on Nifty. The next and most crucial support will be at 18400 levels. This is going to be decider now. Technical charts are suggesting that if it breaks 18400 then profit taking can be bigger than expected but I do not see any such great possibility yet. I may have better opportunity on Nifty.   

22 July 2016: Nifty Elliott wave analysis: Nifty looks tired near 8600 and this tiredness can be converted in to weakness on this Friday.

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

For 22 July 2016: -

On 21 July 2016: FII Net Bought – INR 420.22 Crs:  DII Net Sold – INR – 372.40 Crs

Once again it has failed to hit levels of 8600 and corrected as expected. This force to say that this consolidation goes bigger than expected and hence we need to say that market is finally looks tired. In this case we think for significant price correction. My take is that market is tired. My second take it that if it breaks 8470 then price correction can go as low as 8400.

For today’s trading session I am expecting market to open on flat note. Today is Friday and market did nothing in past eight trading sessions. We can expect some slide today as suggested by historic cycle. Technical support is in the zone of 8480-8460. Will it finally? This is going to be interesting. If this happens then we can say that market has top at 76.40% of retrenchment.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – Higher resistances are still applicable and we are now about to see the possible price correction. Let us see if we get or not. At the break of 8490 it will slide towards 8410-8400 levels. Strong caution is advised at higher levels. We have already added short in the last trading session.

BANK NIFTY – I was expected this and hence I advised caution at higher levels. Now, it is near 18700. Support if it breaks 18700 then we can see some sharp fall on bank nifty. This is something which can disturb blue chip index too. So finally, we need to add that one must avoid any kind of long trade unless it go above 19200 levels. Let us see what kind of price correction we are about to get. 

21 July 2016: Nifty Elliott wave analysis: Do not trade a side wise market. If market has to break higher then it must come through short covering only.

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

For 21 July 2016: -

On 20 July 2016: FII Net Bought – INR 215.21 Crs:  DII Net Sold – INR – 45.45 Crs

As expected it remains a range. It is again hitting upper end of the resistance levels. We are eventually near to 8600 levels. Will it break higher or will it remains under consolidation? This is a billion dollar question. It can hard to trade. I suggest sitting on side line. Note that if we can see good crossover of 8600 then only we can think for fresh extension of this rally. If this happens then we can see levels of 8700+ before expiry. If it fails then we can see a dip around 8470-8460 first.  

For today’s trading session I am expecting market to open on flat note. The zone of 8470-8600 will not give any direction of trade. I must be clear that we may not have any chance of breaking this range sooner. Equally, there is no great signal to short either. I still believe that Nifty can take a surprise swing of 200 points sooner or later before expiry. It can be up or down.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – On higher side 8620 will act as resistance and 8550 will act as support before any decisive up or down here. I suggest not trading in this zone. If this can surpass above 8620-8630 then we can expect levels of 8680-8700 on the account f short covering. Will short covering come? Let us see.

BANK NIFTY – I am keeping study remains unchanged. This is expected reaction on levels above 19000 but this is not giving any good chance to correct. Remember, that as long as it is above 18700, I cannot suggest shorting. This is sectorial index and may perform better than blue-chip index. On higher side it will face resistance at 19100 levels. I like to see if it can recover from lower support or will it break the support. 

20 July 2016: Nifty Elliott wave analysis: Returning from 8470, may create a buy for another test of 8600 levels.

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

For 20 July 2016: -

On 19 July 2016: FII Net Bought – INR 548.90 Crs:  DII Net Sold – INR – 377.43 Crs

It has tested the support range of 8480-8460 with a low around 8470 before bounce. I unwind my short deals and goes on side line. I am expecting that market may spend time in this range and clearly it is refusing to go down in the absence of any trigger. For today, no up or no down.  

For today’s trading session I am expecting market to open positive to flat note. Once again support will lies in the zone of 8480 to 8460 levels. On higher side I rate as 8600 as only possible resistance. Whatever has to come, it is for sure that market will not easily cross 8600 levels so easily. Today is another day. Let see what’s coming. I am saying for a possible short at top? May be not, this time.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – Opening is expected around 8550 levels. After that it will get support at 8520-8500 on dot levels. I like to trade only on dip. If it works then today may be the day to trade long from lower levels for a rise of 30-40-50 points on higher side. Technically, market direction is still sidewise. If it sustain below 8490 then only we can expect a sustained profit taking. Else, this market is in the hand of firm bulls.

BANK NIFTY – I am keeping study remains unchanged. This is expected reaction on levels above 19000 but this is not giving any good chance to correct. Remember, that as long as it is above 18700, I cannot suggest shorting. This is sectorial index and may perform better than blue-chip index. On higher side it will face resistance at 19100 levels. I like to see if it can recover from lower support or will it break the support.

19 July 2016: Nifty Elliott wave analysis: Decisive support for Nifty will be 8500>8480>8460!!! Will it fall more?

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

For 19 July 2016: -

On 18 July 2016: FII Net Bought – INR 599.09 Crs:  DII Net Sold – INR – 439.09 Crs

Well, we have again seen reaction from levels of 8600 and seen profit taking. This is what I talked about. I am still anticipating this correction to go on substantial note. The most critical support will be in the range of 8480-8460 zone. So far, one can say that market may try to wash weak bulls. On higher side market has already faced tremendous resistance at 8600 levels.

For today’s trading session I am expecting market to open higher near 8520 levels. We have just one logical resistance so far and that is just at 8600 levels. The time is on and we can see correction going deeper any moment. These 60-70 points cut cannot be named as correction. It is more like time based consolidation. Let us see what is coming. This may turn to be big opportunity to be on short side. All eyes are on GST and corporate earnings. Both will not be easily in favour of market.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – Opening is expected around 8530 levels. After that it will get support at 8500 on dot levels. I like to trade only on dip. If it does not fall then I will avoid trading at these levels. I am expecting levels of 8480 levels. On higher side it will face resistance at 8560 to 8600 levels.

BANK NIFTY – This is expected reaction on levels above 19000 but this is not giving any good chance to correct. Remember, that as long as it is above 18700, I cannot suggest shorting. This is sectorial index and may perform better than blue-chip index. On higher side it will face resistance at 19100 levels. I like to see if it can recover from lower support or will it break the support. 

18 July 2016: Nifty Elliott wave analysis: High chance of consolidating week ahead. 8600 should invite profit taking sooner or later.

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

For 18 July 2016: -

On 15 July 2016: FII Net Bought – INR 1461.26 Crs:  DII Net Sold – INR – 1033.97 Crs

Nifty has just turned shy near 8600 levels and this is what I was expecting. So far, it is looking to consolidate near the resistance of 8575. It may see some profit taking in this range in this process of consolidation. Technically, as long as it is above 8460 we cannot see any brutal sign of reversal. It may not fall below 8460 so easily but profit taking is a part of rising market too.  All eyes must be on monsoon session of parliament now.

For today’s trading session I am expecting market to open higher near 8550-8560 levels. Afterward it will see resistance emerging at 8600 levels. Do not attempt fresh long unless it go above 8600 levels. I am sure that we may see profit taking this week but I am unable to spot exact time. Let us see what is coming. Try to restrict your activity if fall does not come.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – Opening is expected around 8570 levels. After that it will get support at 8530 levels. I do not see much chance of trading on long side unless short covering rise hit. Below 8530 we can expect profit taking to emerge. Technical charts are suggesting that it should face resistance at 8600-8610 levels. Do not try adventurous long unless it go above 8610-8620 resistance marks.

BANK NIFTY – It has done 19000 levels which were expected and now it may see profit taking but there is no such sign yet. This is suggesting me to be very cautious. Well, if it has a choice to be compulsive long then it is definitely my choice to buy banking index only. Technical support is at 18700. As long as it is above 18700 we cannot see any decisive profit taking. 

15 July 2016: Nifty Elliott wave analysis: Will Nifty surpasses 8575-8600 marks without correction? If yes then a short covering rise can hit.

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

For 15 July 2016: -

On 14 July 2016: FII Net Bought – INR 869.84 Crs:  DII Net Sold – INR – 874.15 Crs

Nifty moved forward and coming near to 8575 levels. I am expecting a pause or a correction from levels nearer to 8575 but so far, we have no single trace of price correction so far. This suggests me that market will move towards 8600 at least. Suppose if it can sustain above 8600 then we may see possibility of short covering rise.

For today’s trading session I am expecting market to open higher near 8600 levels. I am definitely not going to be active anymore on long side unless I get some real strong buy signal. If weakness comes then we can see some good action on Friday. If not today then a price correction is coming very next week. Be cautious at higher levels.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – Opening is expected around 8600 levels. After that it will get support at 8580 levels. I do not see much chance of trading on long side unless short covering rise hit. It is a known fact that most top used to come with short covering rise and no rise can be better than short covering rise. Let us what comes. I am not interested to be very active.

BANK NIFTY – It has moved above 18700 and hence it gave life to Nifty even. Above 18700 Banknifty has every chance of going near 19000 levels. For today’s trade Bank Nifty will get support at 18700 levels now. Let us see how will Bank Nifty will react at 19000 levels. I advise strong caution at these levels. Although price correction may not be big, but big enough to test patience.   

14 July 2016: Nifty Elliott wave analysis: Are we close to get a reversal? If yes, then it is a reaction at 8575!!!

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

For 14 July 2016: -

On 13 July 2016: FII Net Bought – INR 290.53 Crs:  DII Net Sold – INR – 654.73 Crs

I have already talked for a possibility of correction from the vicinity of 8575. Nifty hit a high at 8560 and then corrected. Big question is that will this correction continues. As per momentum is concern, I can say that correction will not last longer and sooner market may come back to its uptrend. As of now, we can either see price correction or time consolidation. Whatever comes, it must be healthy for market.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to soft and then we may have decisive resistance at 8480 levels. If it breaks 8480 levels then we can expect levels of 8400 also. This may not be move for a day. It may take time to come. Although we have higher chance that market will undergo time consolidation. Resistance on moving higher side will be at 8575 levels.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

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Strategy for Nifty July future – Opening is expected around 8510 levels. Afterward it will get support at 8480-8490 levels. If it can sustain below 8480 then we can expect profit taking for a move towards 8400 levels. On higher side it will face two resistances; one is at 8550 and next is at 8590. I am expecting pressure day today.

BANK NIFTY – We got expected resistance at 18700 levels. This is not so weak so far. The zone of 18700-18400 will just keep this under time consolidation only. this may not provide opportunity to trade on short or long side. If it breaks 18400 then only we can expect levels of lower side, may be 1800. Let us see what comes, up, down or consolidation.  

13 July 2016: Nifty Elliott wave analysis: 13th Day reversal may come today from higher levels. Caution advised for all long trades.

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

For 13 July 2016: -

On 12 July 2016: FII Net Bought – INR 1155.80 Crs:  DII Net Sold – INR – 610.57 Crs

We saw almost 600 points on Nifty at one go from 7930 to 8530 almost. This rally is 12 days old and today is 13^th trading session. Now, we may have a condition. If price correction has to come then it may come in a day or two before fresh wave of attempt. It is logical too. If nifty has to 9000 levels then a price correction will be healthy.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to open positive to flat. Afterward it will face resistance at 8575 levels. I am expecting a price correction to begin either by today or from tomorrow. Remember, I am not saying that it is my compulsion to expect correction. This correction may not able to truncate the uptrend. It is just a price correction against sharp rise.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

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Strategy for Nifty July future – Opening is expected around 8550 levels. Afterward resistance will emerge at 8580-8590 levels. There may be meaning to add short from higher levels today with caution stop loss. Below 8480, we can expect correction intensifying. Are we going to get such correction where Nifty future can hit 8400? I expect and I hope for so.  

BANK NIFTY – 19000 will be reality sooner but one pullback is expected on Bank Nifty although it has gone up with good consolidation. I am expecting a good short term support to emerge at 18200-18100 levels. After that a strong rally can hit to give 19000 as reality. So far, stop trading long from 18700 levels ahead of a possible price correction. 

12 July 2016: Nifty Elliott wave analysis: 8500 will be on hunt now. Remember, Fibonacci target is at 8575!!!

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

For 12 July 2016: -

On 11 July 2016: FII Net Bought – INR 1155.80 Crs:  DII Net Sold – INR – 610.57 Crs

We may see opening around 8500 levels on nifty now. Technical charts are suggesting that market may surpass 8500 levels and 8575 may be on hunt by this week itself. The time for big move is still on and we are getting those anticipated moves. Do not make shorting in this kind of market where tops are too far to form. I have already talked for the possibility of 9000 levels. It must come much sooner than expected.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to open positive to very strong positive. Remember I am expecting as big as 9000 very sooner. Nifty has sustained well above 8400 without any sign of pullback. Technically it can move higher and higher. Participation from banking stocks are encouraging.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – One should prepare for another gap formation. Add long and hold long moves will continue. SGX Nifty is suggesting for opening in the range of 8520. If it can sustain above 8520 then we can see short covering rise towards 8600+. Prefer for this.

BANK NIFTY – Finally, moves above 18100 has started. Now I see the possibility to hit 19000 levels. Technical charts are suggesting that 19000 will come sooner than my expectations. I market favours then 20000 is also within reach. Opss!!! 20000? Yes, I am right in my words. I may prefer to boost my expectation and desire. Greed will key for Indian market. Medium term charts are suggesting that 17770 will not break so easily now. 

11 July 2016: Nifty Elliott wave analysis: Kick off to touch for 8500 will start on Monday morning. Just long as long as 8300 holds.

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

For 11 July 2016: -

On 08 July 2016: FII Net Bought – INR 330.62 Crs:  DII Net Sold – INR – 512.67 Crs

I am already emphasizing that Nifty has good potential to move towards 8500 and I feel that it will see a kick off start today. It has already maintained levels above 8300 in good extent. Longer it stays above 8300 we can see a move towards 8500 or higher. We have some call options on index to carry on.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to open positive to very strong positive. Remember I am expecting as big as 9000 very sooner. I am definitely encouraged by current move. If it can maintain gap up then we can expect a very strong rise. It is strongly suggested that traders should avoid any kind of shorting in search of any weakness. If weakness comes then I may able to give first hint. So far, there is nothing like that.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – gap up formation is something which is tougher to deal. We have some options as carry forward. Still, I can suggest that one can prefer to add long in any intraday dip. By closing minutes it can go on much higher notes. One cannot expect dip beyond 8380 in normal case. Let is see how big today’s rise can be.

BANK NIFTY – This is not participating the way I was expecting for but my view is a buy above 18100. I believe that above 18100 we may able to see as big as 19000 on Bank nifty. I can say that it is a good breakout after a proper consolidation which does not show much confusion. This reflects that bank Nifty can lead the upcoming rally. The possibility of big rally remains alive as long as it holds 17400 levels. Use dip to buy. I will be happy to see some price correction to add long. 

08 July 2016: Nifty Elliott wave analysis: No change in analysis. Rise is still expected after the end of this consolidation. Target – 8500 minimum.

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

For 08 July 2016: -

On 07 July 2016: FII Net Sold – INR 299.51 Crs:  DII Net Sold – INR – 159.98 Crs

I am not surprised by yesterday’s choppiness at all. It was expected and market is consolidating before moving up further. This uptrend will remain intact as long as Nifty is standing above 8280-8250 support zone. This is up and well up. My expected move it towards 8500-8575 levels. This move will come by today or tomorrow.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to open flat to positive and if any price correction comes then also it will be opportunity to trade long only. Technical support stands at 8280-8250 levels. This price action is suggesting that market has multiple supports at lower levels. Good consolidation will give good price rise. On higher side anything above 8400 will trigger good move. Momentum once come will continue for many days more. I have nothing much to change in my previous analysis.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – Study remains same. It goes on consolidation in last trading session. Technical charts are suggesting that 8300 will act as good support and if this comes then it will be an opportunity to add long. Well, will these levels come? I do not think so. Anything above 8424 will trigger a short covering rally. Market is expected to open at 8350 levels. If I find intraday strength then I will prefer to add long. Take a note that the day it gives closing above 8400, we will get short covering rally on very next day. Prepare for this.

BANK NIFTY – This is not participating the way I was expecting for. This is my only worry point for Indian market. I believe that above 18100 we may able to see as big as 19000 on Bank nifty. I can say that it is a good breakout after a proper consolidation which does not show much confusion. This reflects that bank Nifty can lead the upcoming rally. The possibility of big rally remains alive as long as it holds 17400 levels. Use dip to buy. I will be happy to see some price correction to add long. 

07 July 2016: Nifty Elliott wave analysis: Consolidation is good. Technical support remains in the range of 8280-8250.

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

For 07 July 2016: -

On 05 July 2016: FII Net Bought – INR 265.63 Crs:  DII Net Sold – INR – 447.48 Crs

Indian market has much better relative strength against global indices. Technical charts are suggesting that 8250 may not break easily in this month of trade. This is giving me a conviction for a move towards higher levels. My first view point as target is 8575 which I am expecting sooner. I strongly suggest keeping a stop loss and buying in any dip. This weekly closing may be a decisive one.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to open flat to positive and if any price correction comes then also it will be opportunity to trade long only. Technical support stands at 8280-8250 levels. This price action is suggesting that market has multiple supports at lower levels. Good consolidation will give good price rise. On higher side anything above 8400 will trigger good move. Momentum once come will continue for many days more.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – It goes on consolidation in last trading session. Technical charts are suggesting that 8300 will act as good support and if this comes then it will be an opportunity to add long. Well, will these levels come? I do not think so. Anything above 8424 will trigger a short covering rally. Market is expected to open at 8350 levels. If I find intraday strength then I will prefer to add long. Take a note that the day it gives closing above 8400, we will get short covering rally on very next day. Prepare for this.

BANK NIFTY – This is not participating the way I was expecting for. This is my only worry point for Indian market. I believe that above 18100 we may able to see as big as 19000 on Bank nifty. I can say that it is a good breakout after a proper consolidation which does not show much confusion. This reflects that bank Nifty can lead the upcoming rally. The possibility of big rally remains alive as long as it holds 17400 levels. Use dip to buy. I will be happy to see some price correction to add long. 

05 July 2016: Nifty Elliott wave analysis: Every correction is opportunity to buy. Expect as big as 9000 levels by Next month. Mammoth rally ahead.

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

For 05 July 2016: -

On 04 July 2016: FII Net Bought – INR 182.28 Crs:  DII Net Bought – INR – 377.45 Crs

Market goes under consolidation. This gave us a good sense of some price correction which is a need. I do not think that any price correction can take out 8300 to 8250 support so easily. I am waiting for this price action. I am strongly optimistic for a bigger price action on higher side.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to open flat to negative and if any price correction comes then also it will be opportunity to trade long only. Technical support stands at 8280-8250 levels. This price action is suggesting that market has multiple supports at lower levels. Good consolidation will give good price rise.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – It open firm and it remains up. Technical charts are suggesting for extension of rise. Well, one price correction is due but there is no sign of such correction coming. Even if it come for 100 points then also trend will remains up. Biggest the price correction higher will be magnitude of rise. Opening it expected to be flat but trend is expected to remains strong. I strongly suggest to buy in dip.

BANK NIFTY – This is not participating the way I was expecting for. This is my only worry point for Indian market. I believe that above 18100 we may able to see as big as 19000 on Bank nifty. I can say that it is a good breakout after a proper consolidation which does not show much confusion. This reflects that bank Nifty can lead the upcoming rally. The possibility of big rally remains alive as long as it holds 17400 levels. Use dip to buy. I will be happy to see some price correction to add long. 

04 July 2016: Nifty Elliott wave analysis: Trend will remain up even in 100 points of price correction. Buy in dip.

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

For 04 July 2016: -

On 01 July 2016: FII Net Sold – INR 187.51 Crs:  DII Net Bought – INR – 907.05 Crs

The best part of Friday’s trading session was that it has never sustained below 8300 marks. What I am watching now is the close above 8340 which will invoke another remarkable rise. We have not seen any correction from last six trading days. Still pattern is very strong. I strongly suggest that Nifty has great potential this time to hit 8575-8600 levels. No correction factor favours bulls only. This is showing relative strength of bulls that ignored all possible bad news.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to open flat and if any price correction comes then also it will be opportunity to trade long only. Technical support stand at 8280-8250 levels even if it breaks 8300. Let us see what is going to happen.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – It open firm and it remains up. Technical charts are suggesting for extension of rise. Well, one price correction is due but there is no sign of such correction coming. Even if it come for 100 points then also trend will remains up. Biggest the price correction higher will be magnitude of rise. Opening it expected to be flat but trend is expected to remains strong.

BANK NIFTY – This is not participating the way I was expecting for. This is my only worry point for Indian market. I believe that above 18100 we may able to see as big as 19000 on Bank nifty. I can say that it is a good breakout after a proper consolidation which does not show much confusion. This reflects that bank Nifty can lead the upcoming rally. The possibility of big rally remains alive as long as it holds 17400 levels. Use dip to buy. I will be happy to see some price correction to add long.

01 July 2016: Nifty Elliott wave analysis: It may be now GET-SET-GO for a great next big rally !!! Use dip to add long.

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

For 01 July 2016: -

On 30 June 2016: FII Net Bought – INR 1107.42 Crs:  DII Net Sold – INR – 190.76 Crs

It has done 8300 on expiry day and nothing could have been better expiry than this one irrespective of all adverse news flow of last few days. If it can sustain above 8300-8340 then we can think for the next great target of 8575 as the next big hunt which was quoted from past many days in last paragraph.

After looking to this structure and then way market has refused to break below 8000 even in panic we can say that market is preparing something big. This big think can be as big as 9000-9100 levels of Nifty. I see such great possibility hence bears must be cautious.

For today’s trading session I am expecting market to remain soft. We may get some retrenchment of this sharp rise and we should plan to utilize to add long on dip. Suppose if fall does not come and it breaks 8340 on higher side then we can expect target good target and hence long should be added in that case too. One need to be brave to trade long.

Do not misinterpret. I gave a long term trend as down from more than a year back. Nifty hit 9119 and then I issued for a long term top. Nifty hits a low at 6825 on Budget day this year. After such down side, wave theory had suggested for comparable recovery with three big possibilities for retrenchments, first to come at 50% at 8000, 61.80% at 8250 and 76.40% at 8575.

101%, I retain my view for long term trend down but that does not says that we cannot interprets for short to medium term of recovery. This recovery was bound to come and it is coming to make a wave [B]. Now, just imagine the magnitude of wave [C]. Higher the retrenchment, bigger fall will hit in future. If this wave [B] tries to end up near 9000 then 9119 may not be visible for many years. So, where is my long term target on Nifty? Well, it is in the zone of 6000-5500.

To take good advantage join paid services.

Strategy for Nifty July future – I was not expecting much beyond 8280 and it has surprised me on expiry day although it was not so big rise after opening. It is important to note that it is maintaining all gap up. This is just one unhealthy pattern, perhaps only worry point. Using this also, I will wait to for dip to add long to hold my long for few days. Will I add today or next week? It will depends on how it comes.

BANK NIFTY – I believe that above 18100 we may able to see as big as 19000 on Bank nifty. I can say that it is a good breakout after a proper consolidation which does not show much confusion. This reflects that bank Nifty can lead the upcoming rally. The possibility of big rally remains alive as long as it holds 17400 levels. Use dip to buy. I will be happy to see some price correction to add long.