25 October 2017: Nifty Elliott wave analysis: Look like 10400 must be on hunt- A well forecasted Elliott wave based target. Do not be long from here. It can be trap!!!

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Analysis 25 October 2017: -

On 24 October 2017: FII Net Sold – 1306.76 INR Crs:  DII Net Bought – INR – 592.28 Crs

The “W” is about to get a higher edge with a possible strong gap up today. I have already said for the top coming either at 10250 or at 10400 will hardly matter. Definitely I am not very active at these levels but it seems that higher side of my expectation will must come now. It was quotes yesterday too, “Trading range seems to be 10200 on higher side which can extend maximum towards 10400 (which is not very likely to happen) and on lower side 9700 may be base which may extend towards 9600 levels.”

So, as long as direction is up by great momentum, I will not prefer any shorting in any case. Can we see an easy top now? Well, only time can answer but we may see such possibility.

For today’s trading session, Nifty is likely to open on positive note as indicated by SGX Nifty and it is going to be heavily positive. I strongly advise to go on side line after such strong opening. If you do not have open long position then there is nothing to deal for fresh from such critical higher levels.

Just one level for the day and it is 10400, a well forecasted levels based on Elliott wave chart which was given at the beginning of this year.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

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.

Strategy for Nifty November future – A simple view – does not be active for intraday or positional. It can easily trap you. This rally is not well supported by all stocks. Technical support after opening will be at 10300 levels. On higher side, shall we work out for levels above 10400? Let us see.  

BANK NIFTY November future – This index is something which is definitely stopping me from all possible long trade on index. I am considering this as a key sign of future that is about to come. Technical support is at 24000 to 23600 levels. On higher side no great momentum is possible unless it go above 24800 levels which are already too far. 

24 October 2017: Nifty Elliott wave analysis: Market to go in sidewise mode for long time. It may be in the range of 9700-10200.

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Analysis 24 October 2017: -

On 23 October 2017: FII Net Sold – 81.51 INR Crs:  DII Net Bought – INR – 307.84 Crs

I prefer to be in side-line before Diwali. My prediction is that market may go in range for next 30-40 trading sessions. My bases of above statement are two major things. First is based on charting. One can notice for formation of a “W” pattern whose track record is good. This pattern, once develop, used to result a phase of indecisiveness. Second key point that I am not trying to be bullish is the underperformance of Bank Nifty. In fact Bank Nifty is trading in a narrowing triangle.

Trading range seems to be 10200 on higher side which can extend maximum towards 10400 (which is not very likely to happen) and on lower side 9700 may be base which may extend towards 9600 levels.

So market may make top but I will not prefer to be long anymore.

For today’s trading session, Nifty is likely to open on positive note as indicated by SGX Nifty. Technical support for intraday session may be at 10140 to 10100 levels. I need to be clear, even if it looks like market is in the higher side of the specified range then also I do not think that we can opt shorting easily. We may see expiry effect that can make market mixed.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

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.

Strategy for Nifty November future – We are moving close to expiry day for October month series. Technical charts are looking to be in favour of bulls but that is based on hourly chart. My anticipation is that market may move up more till tomorrow followed by a fall on derivative expiry day.

BANK NIFTY November future – I stick on my studies which I am presenting from past many weeks. This index looks weaker than Nifty. I have a strong caution on this index. One must avoid this index for any kind of long activity. It has stiff resistance at 24500-24700 levels. In the downside we will not have too much support expect 23600. 

09 October 2017: Nifty Elliott wave analysis: Do not try to trade narrow trading sessions. Expect resistance emerging on higher side above 10000.

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Analysis 09 October 2017: -

On 06 October 2017: FII Net Sold – 1040.40 INR Crs:  DII Net Bought – INR – 1239.74 Crs

Shall we still expect big for directional move? My answer remains same. One can expect intraday swing but over trend is still directionless. Technical momentum indicators are still showing that market may not head anywhere. 100 points plus or 100 points minus does not matter for this range.

SGX nifty is down right now which is nullifying major part of last trading sessions gain. This kind of moves is likely to continue till Diwali.  

For today’s trading session, Nifty is likely to open on negative note. Expect trading support at 9900 levels after opening. On higher side 10000 levels is still a key resistance which market is trying to break many times in past and broken also. Still buyers were not very active above 10000 Nifty, suggesting that market is in search of fresh buyers and that’s missing.

Do not trade level wise as those may not be very accurate in a range bound sessions. Its my expectation that trading ranges are going to be very narrow and moves are limited to some small patches of times, like, only in the first 30 minutes or in last 30 minutes or in that way only.

Simply, money is not very active now.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

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.

Strategy for Nifty October future – Above 9900, it has a chance of coming to 10000 and it has done. Now, can it advance much above 10000? Well, I do not think in that way. It may give up and try to settle near to 9900 levels. This is based on many momentum indicators study. On higher side, 10020-10040 is a zone of resistance.  

BANK NIFTY October future – My study remains same. This index is my prime concern that it is showing weakness with great consistency. Even if it opens higher then also I do not see much possibility of trading higher. Even for October future I suggest that we may not have too many great support below 24000-23800. This index is sustaining at edge. Do not prefer to trade long. If possible just avoid this index till expiry. This may shock in any side. Technical resistance will be at 24400-24500

03 October 2017: Nifty Elliott wave analysis: Massive gap up opening coming. Warning sign- do not add long on gap up.

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

Analysis 03 October 2017: -

On 29 September 2017: FII Net Sold – 1546.86 INR Crs:  DII Net Bought – INR – 2064.63 Crs

Nifty is not doing much after making a double top and a double bottom formation. One can say that top was higher. Still, it is just not sufficient to say that this higher level was safer enough to name as higher top. So far market is looking to go on side wise direction due to festival mood which used to continue till Diwali.  

It is just not better to participate for anything on index for positional kind of trade as moves are expected to be limited to very limited. As long as 9680 holds I cannot say that market is going to open wider on down side.

For today’s trading session, Nifty is likely to open on strong to positive note. Technical support may be at 9750 before 9680. If it opens higher and stays higher then I strongly suggest waiting for opportunity to short which may come anytime. As of now, I cannot specify any levels for such activities. Take a note that market is already going to eat opportunity for rise due to gap up opening which can be as strong as 60-80 points. So be on the safer side.

There is no single sectoral indices which can come to rescue index. Bad shape economy has very higher valuation for stock price. Just stay away from investment too.

I still like to quote that Elliott wave extension has a target of 10400 but will it hit or not it cannot be said.

Alter sense, if market makes a new all-time high then momentum can take Nifty towards 10400 levels.

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.

Strategy for Nifty October future – It is likely to open at 9880 which is going to be too big in this kind of circumstances and eating all possible opportunity. It may not expect much beyond those levels due to multiple resistances arising above 9900 levels. So, I will look for an opportunity to trade on short side but only if I can see a possible weakness. So it is still a speculative call.

BANK NIFTY October future – This index is my prime concern that it is showing weakness with great consistency. Even if it opens higher then also I do not see much possibility of trading higher. Even for October future I suggest that we may not have too many great support below 24000-23800. This index is sustaining at edge. Do not prefer to trade long. If possible just avoid this index till expiry. This may shock in any side. Technical resistance will be at