30 November 2017: Nifty Elliott wave analysis: 10400 resistances remains crucial till now. A fall is likely towards 10200.

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

Analysis 30 November 2017: -

On 29 November 2017: FII Net sold – 859.27 INR Crs:  DII Net Bought – INR – 771.07 Crs

We are on derivative expiry day. Quoted resistance of 10400 is still on its task as Nifty is turning shy to cross this resistance mark. It has just played here and there at 10400 but never be decisive at this point. I usually do not trade on derivative expiry day as it used to be unpredictable

I may not opt to trade but my biasing is towards bears. Market may head towards 10200-10100 again in coming few days.

For today’s trading session, Nifty is likely to open on negative note as indicated by SGX Nifty. I am sure that it will not give easy cross above 10400 and it may give an intraday sell signal at top. If this goes the way I am expecting then this expiry may go on big negative. Still, I suggest that take this as view as expiry day used to be unpredictable. Even I may not opt to trade on soft signals.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – those who has added shorts on higher side may have a pleasant day. Technically a trade below 10300 may push for shorting. I took a long from 10100 and booked above 10350 and this suggested soft short to my traders. On higher side it will face resistance at 10360-10380

BANK NIFTY November future – I am not active on this index since stimulus. In my view it is not going in the expected way although it is up. It is giving signs of tiredness which may be an early indication of weakness. There are many banking which is not in parallel with this index. 25800-26000 is a zone of resistance and it may fail to see a crossover. Today may be big day for bears. 

27 November 2017: Nifty Elliott wave analysis: Be cautious on derivative expiry week. 10400+ is still a meaningful resistance.

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Analysis 27 November 2017: -

On 24 November 2017: FII Net sold – 416.28 INR Crs:  DII Net Bought – INR – 427.63 Crs

We are on derivative expiry week and we saw a hit on 10400 on Friday’s session. I still stick on my view that this should be maximum possible stretch for rise. I have quoted for the fall on expiry week when month began. Now, the time has come for extreme caution.

Technical resistance above 10400 will be only at 10490 but I do not think that market has enough steam. If market is heading higher then we has good participation from global market only.

For today’s trading session, Nifty is likely to open on negative note as indicated by SGX Nifty. Suppose if it fails to stay above 10400-10404 then we can take a confirmation for a possible slide this week. Even if market rises I will not prefer to participate. Threshold support will be at 10300-10280 levels.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – As of now SGX Nifty is showing for opening around 10380 and this is going to give us immediate resistance at 10420-10430 levels. If cracks below 10350 then we can expect some rapid slide. This study is applicable till expiry day. Be cautious due to derivative expiry this week. Market can be brutally volatile.   

BANK NIFTY November future – I am not active on this index since stimulus. In my view it is not going in the expected way although it is up. It is giving signs of tiredness which may be an early indication of weakness. There are many banking which is not in parallel with this index. 25800-26000 is a zone of resistance and it may fail to see a crossover.  

24 November 2017: Nifty Elliott wave analysis: 10400 is proving to be a meaningful resistance. 101% caution required.

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

Analysis 24 November 2017: -

On 23 November 2017: FII Net Bought – 73.22 INR Crs:  DII Net Bought – INR – 222.21 Crs

So far, form a bounce of 10100 levels we are witnessing meaningful resistance at 10400 levels. I am advising a strong caution at these levels. Unless it goes above 10400 we may fail to see momentum at higher side. We may see a possible signal of weakness form higher levels very sooner. If it does not come then I will prefer to avoid trades.

Nifty has all- time high at 10490 which was just short of 10500 levels. This may prove to be top the top but significant signals has yet to come.

For today’s trading session, Nifty is likely to open on flat note. Afterwards it will face resistance again in the zone of 10350 to 10400 levels. We may see first signal of weakness if Nifty can sustain below 10300 levels. It may be a dead session if it fails to fall.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – I have nothing great to add. One must avoid adding long at these levels as it is a zone of resistance. Yesterday’s low of 10300 may be the clear zone of support. Below which it will give a fresh signal trade on short side.  

BANK NIFTY November future – I am not active on this index since stimulus. In my view it is not going in the expected way although it is up. It is giving signs of tiredness which may be an early indication of weakness. There are many banking which is not in parallel with this index. 25800-26000 is a zone of resistance and it may fail to see a crossover.  

21 November 2017: Nifty Elliott wave analysis: Do not be long from higher side after gap up opening.

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Analysis 21 November 2017: -

On 20 November 2017: FII Net Sold – 358.74 INR Crs:  DII Net Bought – INR – 613.00 Crs

After bounce from 10100 levels, I am advocating to restrict the buy trade again near the resistance 10350-10400 levels. This market may not do anything great on upside. It is bound to be restricted. I am still firm that sooner or later correction of magnitude 400-500 points may hit. Well, I still cannot quote for timing. So far, market is about to be side line if it prefer to stay above 10300 levels.

Nifty has all- time high at 10490 which was just short of 10500 levels. This may prove to be top the top but significant signals has yet to come.

For today’s trading session, Nifty is likely to open strong to positive note backed by strong global cues. I am suggesting that if market opens around 10350 levels then do not prefer to trade as misguiding signals may emerge. This is certainly not going to be buying above 10350 as we may see continuous resistance emerging at higher side.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – I took one long trade and now I am out of it. I am not going to touch it again from higher levels. It may have a logical resistance at 10360-10400 levels. This zone may not take out easily by Nifty. If a correction has to hit again then what can be better levels than 10400 from higher side.

BANK NIFTY November future – It is giving another feeling of breakout and in fact saving blue-chip index at higher levels. 26000 is going to be psychological resistance and this may be another tougher levels to cross. Technically, this index is still looking stronger but money flow and risk-reward ratio is not suggesting a trade from this levels. Just stay away from long. It may pinch you for some time but this is what technical charts are suggesting. 

17 November 2017: Nifty Elliott wave analysis: Rebound target can be extended above 10320 levels. Can it have enough momentum to hit for new all-time high?

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Analysis 17 November 2017: -

On 16 November 2017: FII Net Sold – 447.42 INR Crs:  DII Net Bought – INR – 847.45 Crs

I have already predicted for the bounce of 150 points which came yesterday and whatever target has left yesterday will be done by this morning opening quotes. The next extended target for the bounce is at 10320+ levels.

From this point we have two possibilities. First is, we can see Nifty moving in line with global market and Nifty can hit a new all-time high again. Second possibility is that it can go in parallel with Fibonacci retrenchment and it can see resistance at or just above 10320. If this happens then we can need to the indication for a big price correction of around 400-500 points.

I must say that correction is inevitable and it will come sooner or later. Today is crucial to see the resistance.

For today’s trading session, Nifty is likely to open strong note backed by strong global cues. If you have bought the index yesterday and then you have reasons to smile. If you have missed then simply do not trade.  

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – As suggested, it rebound and opening is likely to be around 10350 levels. I may prefer to book my profit on long position at higher levels. I am not very keen to buy for 10400 but I must accept that it can hit levels above 10400.  

BANK NIFTY November future – It is not decisive yet for trades. This is just a dead index so far. Neither responding to fall nor rise. This is turning to be critical on time chart. I see a possibility. If index has to break for down side then Banking index may see more hammering and it is just throwing confusion before fall. There is no such technical indication yet for selling. I am waiting for such signals. 

16 November 2017: Nifty Elliott wave analysis: A rebound is possible as it has done downside technical target of 10100 almost.

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

Analysis 16 November 2017: -

On 15 November 2017: FII Net Sold – 381.42 INR Crs:  DII Net Bought – INR – 869.09 Crs

It was well expected fall towards 10100 levels. I was expecting this from the recent top. Now, the next big thing is that weather it will retrace the fall or will it fall in one go. In that respect, today is the decisive day. I see a high chance of retracing the fall. This bounce may be for 100-150 points of fall at the max and then real fall may begin for almost 400-500 points.

Above is my tentative view for 8-10 trading sessions and hence I can say that it will see a volatile expiry or a fall near expiry.

For today’s trading session, Nifty is likely to open on flat note to positive note and supports are expected in the range of 10100-10080 levels. If it breaks then be ready to see 10000 levels. Is there any point to buy? Yes, if it gives signals for strength for rebound then one can buy with stop loss below yesterday’s low.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – Will it be the day for rebound? A simple view is that if it has to rebound then today must be the best day. At least it needs to save yesterday’s low.  Rock hard support will be at 10100. I may be buyer for the bounce now. My target can be 10270.

BANK NIFTY November future – This is just a dead index so far. Neither responding to fall nor rise. This is turning to be critical on time chart. I see a possibility. If index has to break for down side then Banking index may see more hammering and it is just throwing confusion before fall. There is no such technical indication yet for selling. I am waiting for such signals.

14 November 2017: Nifty Elliott wave analysis: Longer it sustain below 10240, higher will be chance of further fall.

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

Analysis 14 November 2017: -

On 13 November 2017: FII Net Sold – 233.56 INR Crs:  DII Net Bought – INR – 268.77 Crs

It fell from higher levels as expected. This pattern is suggesting that even stronger bulls are giving up at higher levels. This may be prime concern for index rather than anything on technical side. Levels may not be so threatening yet but nature money is showing concern.

I have already advocated for price correction of 150-200 points and we got those. Now, 10240 must be the make or break levels. Longer it sustain below 10240, higher will be the chance of further fall. What can be the levels that we should expect now? Well, it can be 10100 to 10000 levels. It can be 10000 levels in worse case but again this may take its own time as there is no big trigger for wider moves now a day.

For today’s trading session, Nifty is likely to open on flat note. Immediate technical support at 10200 to 10180 levels which I am expecting to be tested. If slips further then we can see the levels of 10100 very sooner.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – SGX Nifty is trading flat but this scenario may chance after opening. Technical charts are saying for make or break levels with this morning itself. It may see more slide if it sustain below 10220. It may either make from this support or it may break this support. Whatever is going to happen but it should happen quicker.

BANK NIFTY November future – I am already saying for resistance at 25700-25750. This index is dead so far and moves are just dicey. Sooner it will also give up, till that time analysis remains same. That’s the reason I said earlier that market reacted in timid way to capital infusion. Resistance of 25700-25750 is still applicable. As long as it is below this level it is strongly suggested not to trade. I cannot say that we have weak signal yet. I am not dealing on this index yet. 

10 November 2017: Nifty Elliott wave analysis: Make or break support at 10250-10240. If breaks 10240 then it will be interesting.

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

Analysis 10 November 2017: -

On 09 November 2017: FII Net Sold – 713.75 INR Crs:  DII Net Bought – INR – 231.25 Crs

I still stick on my points. Nifty levels nearby 10450 are for sell as resistance emerging at 10500 and a possible target is nearby 10240 to 10250. Well, this range invite many too and fro movement. The big question is what if it breaks 10240 levels. I must answer. Break below 10240 will open a room for fall towards 10000 levels. Will such easy fall possible. Technical indicates are giving clues that this may be an easy and tradable falling. Hence I keep my biasing for shorts from higher levels with suitable stop loss.

150-200 points of price correction may not be sign of weakness. This is just a usual reaction which used to come on this kind of top formation which came on daily basis. Such pattern of making newer top every day is on pause from past three trading sessions. Tops used to come like this only.

For today’s trading session, Nifty is likely to open on negative mode. This may invite support around 10250-10240 which is going to be make or break levels. Will it rebound from such support again? Who knows, it is beyond the scope of predication hence trade with caution when such levels comes.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – SGX Nifty is trading with loss this morning confirming my view that market is for sell at higher levels. I am keen to watch reaction at 10250 levels. I have soft short from higher level which I may be in mode to book as trading range in narrow. If it breaks 10250 then it will be interesting.  

BANK NIFTY November future – I am already saying for resistance at 25700-25750. Even though Nifty was stronger we have not seen any strength in Bank Nifty. That’s the reason I said earlier that market reacted in timid way to capital infusion. Resistance of 25700-25750 is still applicable. As long as it is below this level it is strongly suggested not to trade. I cannot say that we have weak signal yet. I am not dealing on this index yet. 

08 November 2017: Nifty Elliott wave analysis: Pattern of sell off-pull back is likely to continue in the range of 10500 to 10240.

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Analysis 08 November 2017: -

On 07 November 2017: FII Net Bought – 461.47 INR Crs:  DII Net Sold – INR – 2046.07 Crs

This was expected price correction. If one sees this from the intraday high, this correction came from 10485 which were nearer to the resistance if 10500 and then low came at 10340. I can repeat that significant support is at 10240. So, it still has room to see some more correction.

150-200 points of price correction may not be sign of weakness. This is just a usual reaction which used to come on this kind of top formation which came on daily basis.

It seems that market is in mood to buy all possible dip but price retrenchment is advising strong caution. We may not be close to any big price correction but overall market is heavily over bought and this can limit the price rise.

For today’s trading session, Nifty is likely to open on flat to positive note. The meaningful resistance is still only at 10500 levels. It may see pullback after yesterday’s sell off but such sell off may hit again to get the target around 10240. This may take 2-3-4 days time.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – SGX Nifty is suggesting that Nifty can open at 10400+ levels. It has resistance at 10450-10500 levels. Now, technical support is at 10350. Unless it goes below 10340, we cannot have point to consider shorting. On higher side resistance is applicable.

BANK NIFTY November future – Even though Nifty was stronger we have not seen any strength in Bank Nifty. That’s the reason I said earlier that market reacted in timid way to capital infusion. Resistance of 25700-25750 is still applicable. As long as it is below this level it is strongly suggested not to trade. I cannot say that we have weak signal yet. 

07 November 2017: Nifty Elliott wave analysis: 10500 is the next resistance but market is not looking weak on momentum.

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

Analysis 07 November 2017: -

On 06 November 2017: FII Net Bought – 576.27 INR Crs:  DII Net Sold – INR – 263.84 Crs

It turned shy near at 10500 but it is not weak as it was anticipating. This is a sign of strength. I equally suggest that market may not have any big room for going up. Still, it is not down either. In my view, market may not come down easily but it will give many dull moves even at newer all-time high.

Global market is still firm and saving any possible correction but we may be close to a small trading correction of 150-200 point on Nifty. Indication of confirmation has yet to come.

It seems that market is in mood to buy all possible dip but price retrenchment is advising strong caution. We may not be close to any big price correction but overall market is heavily over bought and this can limit the price rise.

For today’s trading session, Nifty is likely to open on flat to positive note. I cannot consider medium term and long term caution for trading call. Call is simple, it has resistance at 10500 but it can surpass above 10500 then we can expect some more extension on higher side.  

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – SGX Nifty is suggesting that Nifty can open at 10500+ levels. It has resistance at 10530 levels. If it can withstand above 10530 then we can see some more impressive rise towards 10600+ levels. Now, technical support is at 10460. Unless it goes below 10460, we cannot have point to consider shorting.

BANK NIFTY November future – Even though Nifty was stronger we have not seen any strength in Bank Nifty. That’s the reason I said earlier that market reacted in timid way to capital infusion. Resistance of 25700-25750 is still applicable. As long as it is below this level it is strongly suggested not to trade. I cannot say that we have weak signal yet. 

06 November 2017: Nifty Elliott wave analysis: I am not keen to buy above 10400, a long awaited wave based target has already done.

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

Analysis 06 November 2017: -

On 03 November 2017: FII Net Sold – 9690.84 INR Crs:  DII Net Bought – INR – 33.40 Crs

Welcome, I took a longer compulsive break due to some unavoidable personal reason. Market is definitely not same where I left. It is making newer all-time high day to day. We saw infusion of money to banks by government of India. I can say one thing that “W” was desperately needed a fundamental news flow and market got that.  

What’s my take now? I need to clarify that News of capital infusion to public sector banks is not so small but how market is responding. This is not the kind of boost which index should have got. It should have added few more hundreds point more. So comparatively it is less.

Market has timid response as it is already too high. So my point is still that market is expensive. My anticipated wave target has done at 10400. Anything above this is extension. This may add more time based extension but price based extension may not be great.

For today’s trading session, Nifty is likely to open on flat note. I am on observation mode right now. Charts are suggesting that Nifty may take a test of 10500 levels but this is looking more like a resistance. If this is going to be resistance for today then it may be a very crucial resistance for whole this week. If Nifty break below 10400 then we can be in the mode of small price correction of 100-150 points.

I am not going to be greatly bullish anymore as I was bullish from 9000 and now I am expecting side wise to correction time. 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 – SGX Nifty is suggesting that Nifty can open at 10430 levels. It has rock hard resistance at 10485 – 10500 levels. If bears dominate then we can see a price fall towards 10350-10300 levels. If I have to pick a trade then I may pick a bearish trade for today.

BANK NIFTY November future – Well, if you would have asked me earlier that what would have been a levels after 2.11 Lkhs crores capital infusion then my answer would have been 3000 points of Bank Nifty. Question is how it has responded? This is not the firm response. It is just the response which is saving banking stocks. It can save index for 3 to 6 months. For today 25700-25750 is going to be trading resistance.