31 July 2017: Nifty Elliott wave analysis: Expect choppy trades and this can be max for correction. trend remains up and prefer to be long from support.

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Analysis for 31 July 2017: -

On 28 July 2017: FII Net Sold – 223.12 INR Crs:  DII Net Sold – INR –424.67 Crs

I gave my expectation of 10100 for expiry day and it worked well. I have presented a wave extension chart which is saying that we have a support at 9940 levels. It may not be easy to see the break below 9940. On higher side I am expecting a room for 10400.

This week may not be great as market is expected to be on side near after hitting historical levels. I booked my long on my desired levels above 10100 and now I am again going on waiting mode.

Do not take choppy sessions as a sign of weakness as it may try to hit higher levels again very soon.

I am maintaining my bullish instance from 9000 onwards. Length of the rally should be from 9000 to 10400 levels. It hardly matters if this magnitude goes 1400 points exactly or goes as 1300 points or 1600 points. Call was bullish above 9000 and so far it is pity successful.

For today’s session, I am expecting market to open flat to positive note again. As long as Nifty is above 9940 one can easily maintain bullish instance. I am not the mood to take trades on index as of now after booking good gain in July months but my view is bullish. I usually prefer to wait before bullish again. Suppose if it breaks 9940 then also it can get support around 9830 levels. These are definitely the levels where bearish calls are hard to take.

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction. 

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 an unusual and healthy phenomenon.

Strategy for Nifty August future – SGX Nifty is still above 10000 marks and it just maintains the mood. After a breather it can again take a big rise in this month of trade too. Who knows if this can hit 10400 by this month. I have no call for the day, just taking holiday form trade. I am expecting a choppy trade today.  

BANK NIFTY August future – 25000 have done and I am taking a breather now. Technical support is now at 24800 to 24600. I am not going to take trade on it as first priority although I will take first signal from this index. Be prepare, we can expect as high as 27000 levels on this index. It is just a view we can expect further signal to trade. 

27 July 2017: Nifty Elliott wave analysis: One can expect as high as 10100 on Nifty on derivative expiry day.

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Analysis for 24 July 2017: -

On 26 July 2017: FII Net Sold – 60.60 INR Crs:  DII Net Sold – INR – 676.61 Crs

I am just able to provide short analysis. It has broken 10000 on higher side with ease. Today is derivative expiry day and this is a suitable day to see short covering rise. If this happens then we can see levels of 10100 by today itself. What a remarkable rise from 9448 to this level.

Just do not opt shorting even on weakness. Remember, wave extension is suggesting that we can see as big as 10400 levels on Nifty and possibly without any correction. 

26 July 2017 :

Heavy rainfall in my area from past five days. Unable to update article due to limited connectivity. I am still bullish. 

24 July 2017: Nifty Elliott wave analysis: I still maintain my view for 10000 on Nifty. Hit or miss but must be close to that.

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Analysis for 24 July 2017: -

On 21 July 2017: FII Net Bought – 12.90 INR Crs:  DII Net Sold – INR – 147.66 Crs

9930 is not too far. I can say that weekly closing was better than expected note. I have already quoted on twitter that market can again trap bears and it is doing the same. I hardly see anything meaningful to be bearish. Cannot it cross above 9930? Yes, it can do this very easily. I still feel that Nifty can strike 10000 marks anytime to make history. It is just the psychological hurdle that market need to surpass.

Once again I repeating that market may be nervous towards the higher levels but those are unpredictable and unnecessary to trade. I am firm that market see advance by denying all sell signal which it used to do in these days.

I am maintaining my bullish instance from 9000 onwards.

For today’s session, I am expecting market to open flat to positive note again. We have two important trading support at 9870 and then at 9830. Take a note that market may not fall to that much level. I am expecting 1000 on higher side anytime this week. This must be impressive if comes. We may see hit or miss at 10000 levels. Well, at least it must come close to those figures.

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction. 

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 an unusual and healthy phenomenon.

Strategy for Nifty August future – Right now, SGX Nifty is trading at 9960+ levels. Needless to say that if I am claiming 10000 on Nifty then Nifty August future will see 10000 levels first. I suggest just be bullish with suitable stop loss and prefer to buy in dip around support. Technical support will be at 9900 levels. On higher side it can hit 10040 too.

BANK NIFTY August future – Well, it came very close to 24500 and this is more impressive than Nifty. In fact it is this index because of which I am claiming my views of 10000 marks on Nifty. In my view, this index will again take a lead. I would not be surprised to see levels of 25000 also on this index. Is there is any warning sign? One cannot claim such as long as it is hitting higher levels day by day. 

20 July 2017: Nifty Elliott wave analysis: Any-day and anytime Nifty can come around 10000 marks.

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Analysis for 20 July 2017: -

On 19 July 2017: FII Net Bought – 1046.65 INR Crs:  DII Net Sold – INR – 12.48 Crs

My desired bounce came with great conviction. Can we expect nervousness before 10000? Yes, it can be nervous but chances are higher that bulls will win to achieve 10000 marks on higher side. I am expecting that it can happen anytime. A recent low was 9792 which will act as threshold in meantime. As long as this support works before 9700 one can expect this bounce to continue.

My strategy is simple, I am buying every dip and making exit on nervousness on index but sooner I am going to take risk my long trade on index. Take a note that there is no sign that index is going to make top even at 10000 marks. One can expect another euphoric rise which can cable enough to take nifty as high as 10400 levels although this is not a claim.

I am maintaining my bullish instance from 9000 onwards.

For today’s session, I am expecting market to open flat note with optimism. I have reloaded my long on index as conviction was strong from sectoral index like banking. Now, once again I will hope for my desired 10000 marks. Technical support will be at 9850-9830 levels. My suggestion is to buy in every dip.

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction. 

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 an unusual and healthy phenomenon.

Strategy for Nifty July future – It is likely to open above 9920 levels and then I am expecting a move towards 9960 and then towards 10000 levels. We can expect historical rise any day. Take a note that we can see a short covering based rise very soon which will be enjoyed by bulls. Do not short on any weak sell signal and those contain high risk.  

BANK NIFTY July future – This index is steadier and now taking it’s a move towards my expected 24500 levels. I am now turning more aggressive on this index. It is not likely to break 24000 with ease. Technical signals are in favour of bulls and pattern is expected to extend. There may not be any easy top sooner and hence long is suitable trade. 

19 July 2017: Nifty Elliott wave analysis: As long as 9700 holds on Nifty, up trend will remain intact. Its just a nervousness before 10000.

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Analysis for 19 July 2017: -

On 18 July 2017: FII Net Bought – 317.44 INR Crs:  DII Net Sold – INR – 975.01 Crs

We have got just one day of fall and many started saying for top. Well, this is just not going to be as easy as one think. It is a predicted nervousness before 10000 marks. Remember, it still has potential to surprise market men. Hence, do not go short. I took my profit day before yesterday as quoted and now I am waiting mode.

I want to pass the market if it fall and it can fall little more but technical support will definitely emerge at 9700 levels. Take a note that 9700 levels is still too far and this correction came just due to overdone nature.

For today’s session, I am expecting market to open moderate note with optimism. If it shows strength then I will reload my long on index. Just see that Banking index is still stronger.

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction. 

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 an unusual and healthy phenomenon.

Strategy for Nifty July future – SGX Nifty is saying for opening around 9870 and then we can expect support at 9830-9800 levels. As long as Nifty holds 9700 there are no great convincing short trades. On higher side market can surprise traders anytime. Do not short as market will have potential to take “U” turn.  

BANK NIFTY July future – Now, as this is still around 24000 levels so we can say that strength in market dynamics is very much stronger. Technical buy is still applicable but buy in strength. I am still expecting the levels of 24500 to be tested and this is going to be historical. 

17 July 2017: Nifty Elliott wave analysis: Hit 10000 today. If not today then also it must come this week.

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Analysis for 17 July 2017: -

On 14 July 2017: FII Net Sold – 673.56 INR Crs:  DII Net Sold – INR – 136.27 Crs

9913 was Friday’s high and it is very likely to open above that marks. In that way we may enter in to the striking distance from 10000 marks. I have already said from last week itself. This is definitely an impressive rise. It is not that I am saying that market may top at 10000 levels. It may just be a psychological resistance. From technical point of view 10000 should be a sign of trouble. We can expect some pause near to that and then we can see fresh wave of buying.

The length of this rise should be around 550 points. Take a note that this rise is coming from 9450 levels itself and it must have trapped many habitual bears.

For today’s session, I am expecting market to open above 9913 levels and this it should take a run for 9970-10000 levels. I do not know if 10000 can be reality today or may turn shy near those levels but I am already long from very comfortable levels and so I will prefer to see a crossover of 10000 marks by this week itself. It is going to be a historical week.  

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction. 

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 an unusual and healthy phenomenon.

Strategy for Nifty July future – Once again, Friday’s small price retrenchment was an opportunity to buy. Technically, 10000 is my expected level for this week. If things go favourable then we can expect Nifty to extend more but anything above 10000 is my optimism. I am not denying that depending on market view I may book my good profit anytime specially, if it gives sign of profit taking near 10000. Well, I will not be short.

BANK NIFTY July future – I do not need to change my view. It can outperform Nifty now. It has done 23800, it was most awaited. Now, true wave extension is suggesting me for the target of 24500 which is really too big to talk about. Will it come? I do not know but I am sure for one thing that market will take approach towards such target sooner or later. In down side it may not break 23700-23600 easily.   

14 July 2017: Nifty Elliott wave analysis: Any day and at any time one can expect 10000 on Nifty.

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Analysis for 14 July 2017: -

On 13 July 2017: FII Net Sold – 59.15 INR Crs:  DII Net Bought – INR – 279.13 Crs

Well, frankly, right now technical is in heavily favour of bulls and it is giving all hint of making a history. Yes, I am talking about the possibility of hitting 10000 marks anytime. There will be one bigger day to achieve this.  

This run starts from 9450 levels and running with good conviction. We are very close to an exciting short covering rally as I am sure many shorts would have been in the system.

For today’s session, I am expecting market to open on firm note again and it may start the day above 9900 levels and then one can notice euphoria. Technical support will be at 9830 and this trading support will not break so easily. On higher side I am eyeing for just one target and that is 10000 first. Let us see when it will come? It will come or not?

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction. 

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 an unusual and healthy phenomenon.

Strategy for Nifty July future – I have nothing great to add more as I have already expressed my views for rise with great possibility of hitting 10000. Technical support should emerge at 9830 levels. There is a strong warning if you are thinking to add short. It is better to be off to trade than adding shorts. I am not denying the possibility of correction but it can give you more pain before falling.

BANK NIFTY July future – It has done 23800, it was most awaited. Now, true wave extension is suggesting me for the target of 24500 which is really too big to talk about. Will it come? I do not know but I am sure for one thing that market will take approach towards such target sooner or later. In down side it may not break 23700-23600 easily.   

13 July 2017: Nifty Elliott wave analysis: Day by day conviction is more for 10000 on Nifty. Next target may be 10400….

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Analysis for 13 July 2017: -

On 12 July 2017: FII Net Bought – 361.25 INR Crs:  DII Net Sold – INR – 330.58 Crs

It was expected and it gave closing very near to 9830. As it was above 9800 and so it was not choppy and now it is all set to hit 9900 marks. It is the level which was talked by least people when it crossed 9000 marks. Why should not I talk about the possibility of 10000 marks? I hardly care if it hit or miss but levels will come very near to those.

I have not talked about this earlier but like to quote now. It was always in my mind after 9000. The levels that I am expecting as top before meaningful correction is ((1 0 4 0 0)) on Nifty.

For today’s session, I am expecting market to open on firm note again as indicated by SGX Nifty. It is very likely to hit 9900 levels today. Take a note that longer it stays above 9700 higher will be the possibility to hit 10000 marks on Nifty. Use any dip to buy only. I can say that Nifty is extending its range in July although historically it used to be June month.

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction. 

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 July future – I have nothing more to say I came back to work on Monday and we are almost going to see 200 points gain on long side. Let us see if it can able to cross above 9900 marks today or not. Above 9900 or at some it will invite a pleasant short covering rally. Do not short even on weakness as those may not last longer.

BANK NIFTY July future – I talked most about 23800 on July month contract and it is very likely to hit those levels now. Be the buyer. Very next logical target can be around 24500. Something must come to outperform Bank Nifty now. It can happen anytime and at any moment. You can expect 23500-23700 as a zone to be strong support. 

12 July 2017: Nifty Elliott wave analysis: If not above 9800 then it will be choppy day. Long it stays above 9700 higher will be possibility for 10000 marks.

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

Analysis for 12 July 2017: -

On 11 July 2017: FII Net Bought – 182.05 INR Crs:  DII Net Bought – INR – 335.75 Crs

High goes at 9830 and that was impressive but closing was different. Markets will definitely going to take another attempt for rise but right now we may expect a pause. A pause is unwanted but it remains the feature of the rise from 9000 onwards.

Take a note and keep in mind, longer it stays above 9700 higher will be possibility of 10000 marks to be tested. All this may happen in the month of July only. Strategy should be to buy in dip.

For today’s session, I am expecting market to open on stable note with another possibility of testing 9830 levels. Will it surpass 9830? This is beyond the scope of technical now. One should not worry about this. It will happen sooner or later.

One thing is clear that you may not get any easy shorting this market. Market dynamics is denying any big price correction and this is not happening for the first time. Correction will come and definitely come but not right now. My expectation is that we are far away from any meaningful (10%) correction.  

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 – SGX Nifty is giving opening to be around 9800+ levels. We can expect higher levels but if it fails at 9800 then it will be choppy. Avoid trading in that case. So, trade only if market shows strength. If it goes below 9800 then it should be better to take holiday.

BANK NIFTY June future – I still stuck with my figure of 23800 levels and hence my study remains same. I am still expecting 23800 and not only that we can expect even 24000 levels. Be the buyer of this kind of rise. It has yet to see a firm buyer to hit this index. In any down side it will have good technical support at 23400 levels. Just imagine if Bank Nifty start over performing then what kind of levels is possible.  

11 July 2017: Nifty Elliott wave analysis: 9800 must be the reality today. Then, I will bet for 9900 to 10000.

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

Analysis for 11 July 2017: -

On 10 July 2017: FII Net Sold – 102.27 INR Crs:  DII Net Bought – INR – 894.57 Crs

We got 9782 on Nifty. Technical gave a hint in the last week of trade itself and hence I quoted for the possibility of 9800 by yesterday itself. I still feel that we can expect exact crossover of 9800 by today only. Remember, new all-time has no resistance on higher side. Hence, we can expect more extension unless something happens unusual.

Can we expect 10000 by July month itself? It is not impossible but this rally is going too fast. Fine, this is what we call the euphoria of a bulls run. It is equally true that this rise is not the kind of rally which we used to get in past. Participation is not coming from every stock of every sector. Money goes on selective stocks. This is the part of market dynamics.

For today’s session, I am expecting market to open on stable note with great possibility fresh extension of rise. First thing is to watch market reaction at 9800 levels. It is my gut feeling that if it can extend tall above 9800 then we can expect 9900 to 10000 marks by this month itself. I do not have concrete reasons to say for 10000 but I have seen market overdoing in past. This time also is developing same structure. No one can justify the targets of levels of overdone of a wave. 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 – So we got a one sided rise once it has crossed 9720. Isn’t it? Well, it gave a good time in first half to buy. The result of good buy came as massive rise in next half. Technical charts are still justifying for the fresh rise. Today is the time when it will open above 9800 for the first time and then it will invite fresh rise. I wise if it could invite some short covering rise. I will enjoy more of this rise.

BANK NIFTY June future – My instance it clear. I am still expecting 23800 and not only that we can expect even 24000 levels. Be the buyer of this kind of rise. It has yet to see a firm buyer to hit this index. In any down side it will have good technical support at 23400 levels. Just imagine if Bank Nifty start over performing then what kind of levels is possible.  

10 July 2017: Nifty Elliott wave analysis: 9710 may be challenged today. Strength above 9710 will guide Nifty towards 9800+

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Analysis for 10 July 2017: -

On 07 July 2017: FII Net Sold – 522.08 INR Crs:  DII Net Bought – INR – 720.08 Crs

I am writing almost after two weeks. I gave a correction call and we saw a low around 9450 and then market has bounced. All were in line with my expectation. Thing is what is coming next. Well, as of now market seems to be stable again. We can conclude that Nifty has tried its best to make a base around 9450 and if that is so then correction may have been done. I am not fully convinced as this call has yet to see confirmation.  

We are in striking distance of 9710. My view is not to buy here. I will rather wait to see how will it react above 9710 and then I will plan to participate. I was away from market in past two weeks and hence I will take my time before adding position.

I must be clear that it has saved important 9450 levels which have saved market from any possible bigger correction. Shall we talk about range to open in July? Market has not expended in June the way I was expecting. I have two simple figure – 9200 will come first or 10000? I am sure 75% people will believe for 10000 marks.

For today’s session, I am expecting market to open on stable note with great possibility of hitting or making a newer all-time high. Technical support will be at 9620-9600 levels with rock bottom support at 9570. Once it start trading above 9710 with great conviction, market will talk about 9800.

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 have to add positions for myself but I like to wait and watch before dealing after long vacation. It looks like above 9720 levels it can be in the hand of strong bulls. Well, nothing goes easy in trading. Technical support is at 9630-9610. My call is buy the strength not the dip this time. Let us see how it comes.

BANK NIFTY June future – I have said for threshold support at 23000. It took a test and then bounced. In fact this index was the key and suggested that this instrument can save market. It is good to see that it has done with expectation. I am ignoring all news flow regarding banking stocks and then also I can see that this index has great potential to outperform. How much can we expect? Right now, technical support is at 23400-23300. On higher side it can hit great levels like 23800.