23 June 2017: Nifty Elliott wave analysis: It is almost confirming that 9710+ levels may be the top for mean time. A brutal correction is possible.

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

Analysis for 23 June 2017: -

On 22 June 2017: FII Net Sold – 198.68 INR Crs:  DII Net Bought – INR – 455.21 Crs

I am now more firm on my call of price correction. It does not matter if we fail to see broad range in the month of June so far. Range may open any time and if not then we can expect broader range in July month. Well, it is looking to see fall sooner.

It has almost confirmed the possibility of fall when bull best effort failed at top after making a newer higher high. It has failed to attract new buyers. Now, based on chart we have “The most crucial support” is at 9570 levels on Nifty. Break of this support will give great indication of upcoming fall. It should happen sooner or later.

Shall we talk about the possibility of 10% correction? Take a note that this rally is shaper and even quicker than my expectations. Historically, this kind of rally may have a possibility of profit taking wider than expected. Shall it be bought at dip? Yes, why not. I am not focusing on bigger price correction first and I will be the first buyer at the possible bottom.

For today’s session, I am expecting market to open on negative side again. Now it is going to test the support of 9570. Take a note that that so far it was tested resistance and now it should start testing supports as bulls may feel tired. Suppose if it breaks 9570 today, i.e. on Friday then we may have possibility of price correction in the following week.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is a usual and healthy phenomenon.

Strategy for Nifty June future – I added more shorts yesterday in Index as it was opportunity. Now, I have just one take. I am going to wait with short deals. My first threshold point is at 9570. On higher side 9700-9720 has already proven resistance. Market does not seem to have buyers at top. Let us see.

BANK NIFTY June future – I have already quoted that this index is not weak and it has almost tested 23900. Will it give some strong sign of shorting? I can say that this is the index which is stopping me from aggressive shorting. What would have been if this also gives strong sell? It has thresh hold support at 23400 and that’s too far. 

21 June 2017: Nifty Elliott wave analysis: Fine!!! 75% chances are that 9710 may remain top for some time. A strong price correction is close before fresh up move.

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

Analysis for 21 June 2017: -

On 19 June 2017: FII Net Sold – 312.84 INR Crs:  DII Net Bought – INR – 477.13 Crs

Well, I am focusing on crucial momentum and making few studies on volume. I have noticed that money is flowing towards some selected stocks and broad based rally is exhausted. I may be wrong but I am getting hint that market may undergo MONSOON SELL off mode. It may be the trend which used to set up in June. It has not fallen so far for this month and time is turning crucial to very crucial as the clock is ticking.

101%, now I am not long in the market. I added few shorts as indicated in my past article and I picked short on Nifty Future at 9680 as quoted earlier.

From 9000 to 9700 was a good run and if some correction comes then it should be welcome. It is not going to change the direction but it may be the time of “meantime price correction” to the limited extent. What can be the magnitude of price fall? Will it be the time for 10% correction? Take a note that it may be too early to say but I cannot deny such chances. My shorting put in best possible risk reward ratio and waited long for this.

For today’s session, I am expecting market to open on negative side. On higher side 9700 will be the zone of resistance. It deserves an attempt for short on higher end with disciplined stop loss which should just above 9715 levels. It is same as of my past take. I have already added my shorts above 9680 and I may be flexible towards stop loss. Let us see.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is a usual and healthy phenomenon.

Strategy for Nifty June future – As I have already added short on index so I am biased now. I am just going to keep this short on positional basis. Let us see what can be the possible value of fall. If it breaks 9570 then I may be the position to revise stop loss which put to in the guarantee mode for no loss. So, all I am waiting is to see how and when will it break 9570.

BANK NIFTY June future – I have already quoted that this index is not weak and we saw a price of 23700 and now this may feel the heat any moment. Well, this is still not as concrete as Nifty. This is my anticipation that Bank Nifty will not cross 23800-23900 marks very easily anymore. Still, I am not very sure. I may get a better hint today.   

19 June 2017: Nifty Elliott wave analysis: Will June month also remains DULL? Opps!!! That’s turning very to trade in that case.

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

Analysis for 19 June 2017: -

On 16 June 2017: FII Net Sold – 764.48 INR Crs:  DII Net Bought – INR – 890.91 Crs

We are on very crucial junction on price wise and time wise. We are in the month of June and just seven more trading sessions has left. Market is moving in narrow range and so far, I hardly see any possibility of great moves. Why is this so?  

Do not break your head and no one can do anything about it. It is safer to be with market and market message is no clear so far. I still take cues from crucial technical which is giving a possibility of price correction.  

I should rather say that it is on critical side. If RSI breaks the support of 50% marks then bears will see some activity. From 9000 to 9700 was a good run and if some correction comes then it should be welcome. It is not going to change the direction but it may be the time of “meantime price correction” to the limited extent.

For today’s session, I am expecting market to open on positive side as indicated by SGX Nifty. I am not on any big take. Technical support is at 9570, break of which can give price correction. On higher side 9700 will be the zone of resistance. It deserves an attempt for short on higher end with disciplined stop loss which should just above 9715 levels. It’s just a possibility not a concrete signal for trade.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is a usual and healthy phenomenon.

Strategy for Nifty June future – I am expecting traded to go around 9650 levels. This move can extend more on global firm cues. Well, it has not great sign to trade so far but this time I am going to take a test for fall from higher levels. My favourite spot for shorting can be 9680 with stop loss above 9715. Hardly 35-40 points. This is just a plan so far and execution may differ.

BANK NIFTY June future – This is still impressive and stopping me to do any big adventure on shorting side. Hence, I said that shorting is just a plan and execution depends on real time signal. Somehow I cannot say that bank Nifty is weak as of now. So if market does not fall then Bank Nifty may impress bulls. It is not reacting much at 23500 levels. It has good technical support at 23200. Will it respect this support? This support is 1% away from current levels. Well, do not touch this index unnecessarily.  

15 June 2017: Nifty Elliott wave analysis: First time this is turning heavy on rise with technical indicators. Caution requires-support 9570!!!

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

Analysis for 15 June 2017: -

On 14 June 2017: FII Net Sold – 161.13 INR Crs:  DII Net Bought – INR – 71.65 Crs

Well, today is 15^th June and we have passed half June month with no great move on upside. June is usually a month of heavy volatility and negative biasing. So far, we have not seen anything great. It was just a little up. Big question is what can we expect from rest half of the month.

Will it be dead? Will it be negatively volatile? Will it be positively volatile? To be honest, we cannot predict with good accuracy as indicators are not moving much. If it have to rate the biasing then it is unfortunately on negative side.

I should rather say that it is on critical side. If RSI breaks the support of 50% marks then bears will see some activity. From 9000 to 9700 was a good run and if some correction comes then it should be welcome. It is not going to change the direction but it may be the time of “meantime price correction” to the limited extent.

For today’s session, I am expecting market to open on negative side. I have no trade on index and I may opt to wait for long. Well, I may rather opt shorting too but my expectation on negative side is not too much. One can expect 100 to 150 point of down side maximum if it has come.

I can say that first sign came from sectoral performance. Under performance goes critical and hence I believe that some money may be pulled from bluechip index too. Before you think that I am bearish then let me update – I am firm on my target of 10000 on Nifty. This will just be the meantime price correction which is a usual and healthy phenomenon.

Strategy for Nifty June future – Yesterday’s dead session was indication of this kind of weakness for opening quote. If you are a bull then stay away from market for next 15 days. The next 15 days may not be in favour of bulls as of now. So far, it looks for the down side towards 9500-9440 levels. Let us see how much correction comes.  

BANK NIFTY June future – Somehow I cannot say that bank Nifty is weak as of now. So if market does not fall then Bank Nifty may impress bulls. It is not reacting much at 23500 levels. It has good technical support at 23200. Will it respect this support? This support is 1% away from current levels. Well, do not touch this index unnecessarily.  

13 June 2017: Nifty Elliott wave analysis: If bearish June factor has to rule then first indication may come this week. Advising caution, support 9570!!!

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

Analysis for 13 June 2017: -

On 12 June 2017: FII Net Sold – 169.24 INR Crs:  DII Net Sold – INR – 63.11 Crs

Welcome back. I am coming after long time and I see the market where I left. It is dead from past 11 trading sessions. Once again people might start thinking that this may be the sign of weakness and June factor is also in line. Still I can suggest that the possibility is that market may not fall. So far, high point is only at 9709 and we are at 9616.  

We are heading towards second half of the month and I am advising caution as June used to be the month in favour of bears. Still, there is no great technical indication for toppy so far. Medium term technical support is at 9440 which is too far from current levels.

For today’s session, I am expecting market to open on gap on higher side as indicated by SGX Nifty. This may soon knock the door on higher side. It is strongly advisable not to add any kind of shorting as long as Nifty spot is staying above 9570 levels. I am expecting the retest of 9700+ levels sooner. I will be cautious if it breaks 9570 anytime from now but I do not think that it is going to happen easily or in normal circumstances.

Sectoral performance may go on flip flop mode time to time but overall buyers are still interested in market price. Pricing looks expensive but it is still attracting buyers. Can we expect reversal? Well, if this happens then it will be least expected. So far, nothing is suggesting for reversal but caution call is always alive.

Caution note is clear – first one has to watch for weakness on small cap and mid cap indices. Before top, there may be the days where mid cap and small cap indices will be negative and blue-chip index will maintain flat to positive note. I will look on small cap and mid cap index to compare relative under performance.

Strategy for Nifty June future – It is looking like to open around 9640-9650 levels and this must be considered as good opening. Well, I am still quoting a point as 9570 on Nifty June future too. If it breaks then it may be first sign of trading fall. On higher side a pause towards 9700 and not crossing 9710-9720 may result lack of buyers at higher end. Even if the fall comes, this may not able to chance market direction in medium to long term.   

BANK NIFTY June future – I cannot see any nearby possibility of big fall but rather it may register some profit taking from higher end. It is still trading at 23500. To be on the safer side, traders should avoid this index. If June factor has to rule in reverse way the way I am expecting then it can see the beginning by this week only. I will stay away from this index meantime and I will focus on nifty. Bank Nifty June future has support at 23200 for trading and this is 1% far from here. This index is turning heavy above 23500 irrespective of Nifty resilience. 

02 June 2017: Nifty Elliott wave analysis: Looks like my anticipated big up-day is coming today. 9700-9750 is a possibility.

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

Analysis for 02 June 2017: -

On 01 June 2017: FII Net Sold – 517.31 INR Crs:  DII Net Bought – INR – 171.65 Crs

I have already talked about a violent day which should give a big trading range. It seems there is no big waiting and it is coming today. We have technical break point at 9650. Once it can sustain above 9650 then we can expect 9700+ levels. Only question left is that you have long or not. It is the perspective of choice. Technical support in this up move is too comfortable which is at 9570-9530 zone. Traders can and traders should afford this risk.

Medium term support is still at 9440 and 9370 levels. There is nothing which I can quote as sign of threat. Technical up trend looks to sustain and we are not close to any kind of top yet. Fresh break out used to come in every 8-9 trading session at the max. It is an indication of strong money flow.

For today’s session, I am expecting market to open on gap up mode which can be as big as 40-50 points by global thrust. Suppose if it opens around 9670 and sustain then even 9630 will act as trading support. There is one big possibility that market remains firm throughout the day and goes towards 9750 levels.

3-4 days technical support will be at 9570 and 9530. If it can sustain above 9650, then we can see some better buy from fresh money. One must watch Bank Nifty very closely.  It can outperform Nifty very sooner any day and anytime.

Sectoral performance may go on flip flop mode time to time but overall buyers are still interested in market price. Pricing looks expensive but it is still attracting buyers. Can we expect reversal? Well, if this happens then it will be least expected. So far, nothing is suggesting for reversal but caution call is always alive.

Caution note is clear – first one has to watch for weakness on small cap and mid cap indices. Before top, there may be the days where mid cap and small cap indices will be negative and blue-chip index will maintain flat to positive note. I will look on small cap and mid cap index to compare relative under performance.

Strategy for Nifty June future – I can say that even yesterday was an opportunity to enter long. If one has then one can keep some suitable stop loss to hold. If trade range widen then we can see better return in the month of June or in this rise. It is going to be interesting Friday today. Above 9670-9680 one can expect fresh and 50 point more on upside.  

BANK NIFTY June future – I like to retain my analysis as of yesterday. This can give better return in strength which used to come in extreme of one sided move. Technical support is at 23100-23000. I am still eager to see how it is going to react at 23500 levels. Let us see. I am anticipating a violent up day which should be very close. Just hope violent moves will not favour bears.   

01 June 2017: Nifty Elliott wave analysis: We may be very close to a violent to open big trading trade. Up or Down? Yet to get great confirmation.

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

Analysis for 01 June 2017: -

On 30 May 2017: FII Net Bought – 1048.53 INR Crs:  DII Net Sold – INR – 939.54 Crs

I have already hinted earlier also that choppy trading sessions are very much possible. Today may be another such day. I cannot name these choppy session as sign of any kind of profit taking. This is just not hinting that money flow can end. We saw many instance earlier also where market goes in this way.

I can quote two important supports, one is at 9440 and then at 9370 levels. I do not think that it can break 9370 so easily. 

For today’s session, I am expecting market to open on flat to positive note. We may expect resistance at 9650 and that’s also because it was yesterday’s high point. Cross above 9650 will indicate a run towards 9700 levels. I will prefer to buy in dip for intraday session. We may be close to a violent session ahead which can open big range for June month.

Intraday technical support will be at 9570 and 9530. If it can sustain above 9650, then we can see some better buy from fresh money. Remember, we saw better performance by Bank Nifty yesterday. Do not look economy data much seriously. Those used to come but market has already discounted those.

Sectoral performance may go on flip flop mode time to time but overall buyers are still interested in market price. Pricing looks expensive but it is still attracting buyers. Can we expect reversal? Well, if this happens then it will be least expected. So far, nothing is suggesting for reversal but caution call is always alive.

Caution note is clear – first one has to watch for weakness on small cap and mid cap indices. Before top, there may be the days where mid cap and small cap indices will be negative and blue-chip index will maintain flat to positive note. I will look on small cap and mid cap index to compare relative under performance.

Strategy for Nifty June future – Well, so far, all intraday dips were bought by money and so we can say that money were right. Following the same trend I can quote that 9590-9580 may be a good intraday support to trade on long side. Will it hit 9700-9720 levels? Ideally, it should take a hint and even cross over is possible. A violent session is waiting and I can just hope that it must favour bulls. This is my anticipation.

BANK NIFTY June future – Why I am saying to buy this index even on flat days. This can give better return in strength which used to come in extreme of one sided move. Technical support is at 23100-23000. I am still eager to see how it is going to react at 23500 levels. Let us see. I am anticipating a violent up day which should be very close. Just hope violent moves will not favour bears.