You must read previous articles and watch the given chart carefully to
understand this article completely.
For 04 May 2016: -
On 03 May 2016: FII Net Sold – INR 755.28 Crs: DII Net Bought – INR – 484.64 Crs
In my language the time is ON as 7750 has broken. Longer it sustain
below 7750 we can expect a panic fall. If panic fall does not come then also it
will always live with the threat of panic sell off. This makes market uneasy
for bulls. Hope readers took the advantage. I repeat the following two liners.
My key expectation is – NIFTY can HIT 7400 by MAY month series and
hence I am holding my shorts. Worse possible target can be 7200 too.
For today’s session, market may take a gap down opening. I am
expecting opening fairly below 7750 and the next logical target is 7600-7530. I
experiment my own trades and I am on hold for my short deals which I took from
the resistance of 7980 and added when Nifty was breaking 7900 on downside from higher
side.
I hope it gave you the value of following paragraph which remains the
part of my daily analysis.
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 May future
– I am holding my shorts from 7950 and that’s makes me safer now. I am not even
making frequent deals. If I have to pick intraday trade today then I will pick
a short trade. I am not willing to book my short but that depends on the
possibility of recovery.
BANK NIFTY – It has broken
16750-16800 levels and then 400 points of crack down. This makes a meaning. For
today’s trading session I must inform you that BANK NIFTY is making a short
signal two days after Nifty makes a short. From the levels of 15400, I have a possible
target of 15000 for the day itself. Let us see. I have no deal on BANK NIFTY
yet. I am happy with my Nifty short.
