30 July 2018: Nifty Elliott wave analysis: As expected it hits a new life time and expected to hit 11450 levels.

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

Analysis for 30 July 2018: -

On 27 July 2018: FII Net Bought – 738.05 INR Crs:  DII Net Bought – INR – 406.12 Crs

Well, it was first indicted by reverse H&S pattern that Nifty is going to hit all-time high. Now based on the same pattern we can expect target around 11450 levels. Market goes with conviction and it is moving to higher day by day.

Once again a big question is how long this continues. My answer is simple that market will see a significant correction within a year of time. So far enjoy the rise as long as it holds. Money flow remains supportive but such levels equally demand great amount of caution.

For today’s trading session, market is expected to open higher as indicated by SGX Nifty. Broader participation suggests that market will sustain at these levels for some time. Nifty will get good support at 11170-11200 levels for some time. As long as it holds 11170 we can expect market to remains higher. First logical target based on technical analysis is 11450.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty August future – Nifty August SGX future is trading at 11330 which is a good opening at this time. Technically as long as it is staying above 11270 for the day we can expect market to advance only. Charts and momentum indicates are giving for a move towards 11450-11500 levels before correction. Cautious long is a trade.

BANK NIFTY August future – I was expecting Bank Nifty to hit around 27500 and it did it successfully. Technical moves are giving hit got the test of 28000 also. Sectoral indices are stronger than Nifty and in case of the possibility of profit taking also it will give first reaction. So far it looks like Bank Nifty will rise till 28000 Let us see.

18 July 2018: Nifty Elliott wave analysis: Nifty can challenge a new life time high anytime. It’s a matter of time.

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

Analysis for 18 July 2018: -

On 17 July 2018: FII Net Sold – 673.99 INR Crs:  DII Net Bought – INR – 840.06 Crs

Market hit a high at 11078 and then a profit taking took it down to 10926 levels. After profit taking it has again started with upward journey. Now for today’s trading session market will be strongly backed by stable global cues. So it has every chance of hitting 10080 on higher side. Only technical resistance that I can see is at 11172 levels which is life time high for Nifty.

Recent low of 10926 is a threshold support for Nifty. As long as it holds 10926 we can say that Nifty has every chance to come near its all-time high.

For today’s trading session, market is expected to open higher. Technical momentum is on bullish side as this rise is going to be backed by a correction. It has first technical resistance at 11080 levels. Trade long on your selective stocks with profit support.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty July future – Nifty July SGX future is trading at 11050 which are going to be a good opening. In any intraday pullback it is a buy with stop near 11000 marks with a possible rise towards 11100 levels. One should not prefer shorting at any stage of trading today.

BANK NIFTY July future – It finally surpassed the levels of 27000 marks which I was expecting since many weeks. Bank Nifty has a technical level to be tested as next key level is going to be 27400-27500. We can expect technical support at 26800 as key support for today’s session. I am not very to trade this index but if I have a choice then I would like to buy the dip.

11 July 2018: Nifty Elliott wave analysis: Nifty can challenge 11000 marks anytime.

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

Analysis for 11 July 2018: -

On 10 July 2018: FII Net Sold – 20.73 INR Crs:  DII Net Bought – INR – 293.96 Crs

Even after lots of flip flop market goes in favour of reverse H&S pattern. It hit a high near to 10960 levels. This is impressive closing. I always insist to watch for follow up of trade. We got breakout yesterday with volume and conviction. If follow up of rise comes then 11000 is just a figure. Can we expect some psychological resistance? It used to come and it’s unavoidable. It has no great technical importance.

Technical support will be at 10860 levels. A level with was resistance earlier, now become support.

For today’s trading session, market is expected to open with moderate loss of 25-30 points due to sharp fall in US market future but it should hardly affect as long as fall does not extend. I have a warning. If fall extend then only we can expect pause or pullback on Nifty. Else, Nifty is strong enough. I am expecting rise and Nifty can extend close to 11000 marks.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty July future – Nifty July SGX future is trading at 10930 which are not too bad in this scenario. Technical support is in the zone of 10870-10850 levels. I am expecting the test of 11000 to 11020 levels sooner or may be today itself. Well, Reverse H&S pattern can result a test of all-time high. Let us see what’s coming today.

BANK NIFTY July future – It was also close to 27000 levels. I am expecting this index to be stronger then nifty if strength comes. Technical support is at 26800 to 26700 levels. Cross above 27000 may result some quick fire gain towards 27200+ levels. Caution requires if support starts breaking although such in very unlikely to happen.

05 July 2018: Nifty Elliott wave analysis: Once again pattern may go to retest the power break out of Reverse H&S pattern. Stiff resistance @ 10860, caution required.

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

Analysis for 05 July 2018: -

On 04 July 2018: FII Net Sold – 284.58 INR Crs:  DII Net Bought – INR – 611.01 Crs

After few days of flip flop trade market is ready to challenge reverse H&S pattern again. Technical resistance will be at 10860 but that is also too far as of now. Charting trend line and momentum indicators are suggesting for one more attempt to execute reverse H&S.

Technical support will be at 10720-10700 levels. As long as Nifty is staying above 10700 we can expect strength. Market is heading for decisive mode. If it breaks higher then it will go higher else it may again truncate at higher levels. Good monsoon goes in favour of bulls. So far, monsoon progress is favouring market movement.

For today’s trading session, market is expected to open on positive note. Market may show initial strength but this strength may not see great revival at higher levels. Support if it fails at top then possible levels may be at 10820 or at 10860 levels. Caution required at higher levels.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty July future – Nifty July SGX future is trading at 10770 which are showing for possible initial strength. It is expected to test 10820. The next possible move will be decided on the reaction at this level. Technical support will be at 10740 levels. If it breaks 10740 levels anytime then it will be early sign of weakness.

BANK NIFTY July future – It has proven that 26000 to 26200 are decisive support and it is maintained by market. It was a hope for Nifty and still it is maintaining strength. Technical support for the day will be at 26200 for the day with expectation for the move towards 26600 to 26700 levels. Can it hit 27000 sooner? If it has to then it will give some indication today.

03 July 2018: Nifty Elliott wave analysis: Technical resistance is at 10700-10720 levels. Strength is not expected easily.

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

Analysis for 03 July 2018: -

On 29 June 2018: FII Net Sold – 157.15 INR Crs:  DII Net Bought – INR – 2262.83 Crs

Well, market goes below the crucial support of 10700 levels and hence shown weakness from expiry day itself. Normally, reverse H&S pattern used to take time to perform. Suppose if it fails then it shows the degree of resistance at N-line. On that basis, charts have developed two resistances, one is at 10700 and other is at 10860 levels.

10680 have already played an important role. It used to give some shocker fall below that level. Do we have chance to see 10400 levels? If such question is coming in mind then it may be the possibility.

For today’s trading session, market is expected to on soft note and afterward market trend will be decided by follow up trades. Chances are higher for fall. Market is expected to face resistance at 10700 + levels. Technical will be at 1600 to 10580 levels. Sooner, we may have warning sign too remember, reverse H&S will be effective only above 10860 levels.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty July future – Nifty July SGX future is trading at 10650 which are showing stability after fall but the threat is not over yet. As long as it is trading below 10710-10720 levels it can again take a downward turn. If I have preferred to trade then I may opt shorting at resistance levels. If it closed below 10580 then we may have first signal for 10400

BANK NIFTY July future – Close to 26200 levels Bank Nifty future may try to show some strength but this strength may overcome by weakness on blue-chip index. It looks like it is going to take support at 26000 and then at 25800 levels. If hope is bank nifty then threat is also bank nifty.

27 June 2018: Nifty Elliott wave analysis: Caution required a day before expiry. 10710-10680 is decisive support for Nifty.

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

Analysis for 27 June 2018: -

On 26 June 2018: FII Net Sold – 538.40 INR Crs:  DII Net Bought – INR – 238.05 Crs

We are just a day away from derivative expiry of this month trades. Nifty is still hanging with reverse H&S pattern. This pattern is not going conclusive for the expected rise so far. It is facing hurdle at 10860 levels. We have technical support in the zone of 10710 to 10680 and this is the point of hope. So far market has not violated the support in any day.

At least I do not prefer to be bearish for the day. Rise against Reverse H&S pattern with come in to effect only above 10850. It has missed in first attempt. One high was at 10929 and another at 10893. It is interesting to see the next.

For today’s trading session, market is expected to on soft note with possible support at 10710 and at 10680. As long as it is maintain 10680, we cannot prefer to trade short either. It may be a bear trap zone. I am expecting final outcome as a bounce. It does not matter when it will come.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June SGX future is trading at 10750 which are showing stability after sudden fall in US indices future. Technically, market is still looking stable at support of 10700 levels. As long as it holds the support of 10700-10680, it has scope for bounce. What if it breaks? Well, that will be first sign of trouble.

BANK NIFTY June future – Practically, Bank Nifty did nothing yesterday. It closed near 26600 and there cannot be change in analysis. In fact, this index is not on focus right now. As long as it is maintain above 26400, we can hope for a bounce for 27000 kinds of levels. Once it crosses 27000 then we can hope for few more new levels. Let us see what is coming till expiry.

25 June 2018: Nifty Elliott wave analysis: It is going to be very interesting expiry week. 10860 is challenging levels.

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

Analysis for 25 June 2018: -

On 22 June 2018: FII Net Sold – 1343.44 INR Crs:  DII Net Bought – INR – 1105.76 Crs

Global indices are still not very supportive. Nifty is still showing better relative strength. Nifty sport level of 10860 is still challenging to empower reverse H&S pattern. Well, the pattern is so strong that we can expect some good rise on crossover but till that it may play tug of war.

At least I do not prefer to be bearish for the day. Rise against Reverse H&S pattern with come in to effect only above 10850. It has missed in first attempt. One high was at 10929 and another at 10893. It is interesting to see the next.

It is not giving up at supports as money used to hit at support and showing strength.

For today’s trading session, market is expected to open negative under the effect of US future. Well, I am not expecting opening to that bad as SGX is showing. It should ideally open well above 10800 levels and then it should prefer to challenge 10860 levels. I maintain my positive view for the day and hence for the week but I like see 10860 first.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June SGX future is trading with a loss of 50 odd points. Opening should not be so bad. I am expecting trading support at 10760 and then at 10710. I may prefer to trade long I it can see calculative risk and a possibility of desired bounce which I am hoping. I am expecting 10860 levels. Let us see.  

BANK NIFTY June future – It gave my desired bounce. 26800 have already achieved on Friday and the next big task is to cross above 27000 levels. Will it cross? It needs good support from blue-chip indices. Trading support should be at 26600 and it is expected to open around the same levels. Afterward I am expecting improvement to hit 27000.

20 June 2018: Nifty Elliott wave analysis: Relative strength is due to Reverse H&S pattern. Hope DJIA does not crack further.

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

Analysis for 20 June 2018: -

On 19 June 2018: FII Net Sold – 1324.92 INR Crs:  DII Net Bought – INR – 653.68 Crs

Nifty is relatively better than what US indices has done in past 24 hours. I have already updated yesterday on twitter that I am sensing a bear trap formation. It looks like I am right although I am not claiming with great conviction. SGX Nifty is showing almost a dead start when DJIA future is trading with a loss of 300 points.

Hence, I have reasons to expect improvement. At least I do not prefer to be bearish for the day. Rise against Reverse H&S pattern with come in to effect only above 10850. It has missed in first attempt. One high was at 10929 and another at 10893. It is interesting to see the next. Will it make or will it break? If it goes in favour of bears then it will definitely be a brutal one.  

For today’s trading session, market is expected to open flat. Afterward I am expecting support at 10710 to 10680 levels. I hope it will not break lower and hence it may be opportunity to trade long with caution. My concern is that what if DJIA cracks further. Hope it does not.  

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June SGX future is trading flat. Well, it is fine so far. I am expecting trading support at 10700 and then at 10670. I may prefer to trade long if it can see calculative risk and a possibility of desired bounce which I am hoping. If it breaks below 10670, then recovery may not come sooner and market will go under deep panic mode.

BANK NIFTY June future – I have already discussed the importance of the support of 26200. It has demonstrated those. If it makes at 26200 then it may see a recovery of around a percentage. If it does not then next two supports are 26000 and 25800. I do not prefer to trade this index due to higher risk.

18 June 2018: Nifty Elliott wave analysis: Still a zig-zag moves on N-line of H&S pattern. It can be decisive anytime. Up or Down?

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

Analysis for 18 June 2018: -

On 15 June 2018: FII Net Sold – 1524.74 INR Crs:  DII Net Bought – INR – 561.01 Crs

Practically, Nifty is facing hurdle at 10850 zones as it has failed to sustain above 10850 even after great intraday attempt. I have already quoted past week as a crucial week but it has not given any cue for a tradable short term trend. In that way we need to watch out for the development for today also.

Global cues are not very good; in fact it is trading weak right now. SGX Nifty is already trading below 10800 levels. I am not expecting a great trading session today. It may just hand like last half of the past week. Unless clear signal emerges one should stay away from trading activities.

For today’s trading session, market is expected to with a loss of 30-40 points somewhere. I am still not turning negative on this market yet. If it sustain below 10800 then there cannot be point to be long on the market. Technical support stands at 10750 and then at 10710. Let us see.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June SGX future is trading near 10786 levels right now. This is just not a favourable start at this point of time. Technical charts are looking for this confusion mode to continue even for today. I am not suggesting trades for today. It is avoidable day. Prefer to sit on side line it takes out N-line on decisive way.

BANK NIFTY June future – It is also hanging on support of 26400 levels.  If it fails to respond the support at 26400 then we can expect this index to trade near 26200 which may be opening quotes. Technical charts are suggesting that at 26200 it is also for avoided. So, nothing looks great on index to deal with the beginning of this week.

14 June 2018: Nifty Elliott wave analysis: One flat day should not change too much but caution required at 10850 levels.

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

Analysis for 14 June 2018: -

On 13 June 2018: FII Net Sold – 70.77 INR Crs:  DII Net Bought – INR – 486.78 Crs

Nifty spot hit a high at 10893 and they profit taking hit. Well, as it has given up its gain yesterday and forms a bearish candle, picture has changed a little. US market took a dip on the fear of two more rate hike this year. Technical charts may not be bearish immediately. Still, market is the best analyst.

We have an impulsive high at 10929 and I was expecting profit taking near those levels. In spite of all possible negative factors, we have one positive factor that reverse H&S pattern is still applicable on chart. Bank Nifty is also above its crucial 26400 marks. I have no great reason to go on contra deals. Some patterns of confusion used to come in this kind of expected breakout.

For today’s trading session, market is expected to open on near 10825 levels as shown by SGX Nifty which may not be very great to expect much from market. I still say a confused movement may be in favour of bulls as long as it is saving 10800 levels. I may not prefer to trade for intraday today.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June SGX future is trading near 10820 levels right now. Well, this may not be start where I can say that we can go long but this is definitely on support levels. Up trend is still intact and we cannot say that a flat day has changed picture too much.  

BANK NIFTY June future – I am keeping analysis same for Bank Nifty.  Bank Nifty should have strength above 26400 and it saved 26400 yesterday. We got the expected up move. Now, for today’s session this index will have a great hope. If market has to go on break out mode then Bank Nifty has to perform a lot. Technical support still lies at 26400 levels. On higher side 27000 marks will be challenging.

13 June 2018: Nifty Elliott wave analysis: Once again, be cautiously optimistic. Above 10850 levels we can expect good moves.

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

Analysis for 13 June 2018: -

On 12 June 2018: FII Net Sold – 1168.88 INR Crs:  DII Net Bought – INR – 1327.45 Crs

Nifty is knocking the door of 10850 levels too many times. As it has already said earlier too that decisive break above 10850 will push market to a secular upside trend. We are already in a decisive week right now. Who knows if this can give decisive break by today itself? I am cautiously optimistic.

I retain my views. Once it stands above 10850 then we can expect near to all –time high. So far this is a zone where bulls can be optimistic but be cautious at make or break levels. Can it reverse from here betraying bulls? Well, that’s what cautious is all about. 

For today’s trading session, market is expected to open on near 10825 levels as shown by SGX Nifty which is going to be better start compared to yesterday’s start. Once it starts trading above 10850 we can expect market to expand higher in quicker than expected time. If rise comes then it can large as it is make or break levels.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June future is expected to start at 10825+ levels. I do expect technical support at 10780 levels as of now for today’s trade. Although we can expect confident moves once it goes and stands tall above 10860 levels. I will prefer to trade long above 10860 levels. Let us see if we can get a chance.

BANK NIFTY June future – Bank Nifty should have strength above 26400 and it saved 26400 yesterday. We got the expected up move. Now, for today’s session this index will have a great hope. If market has to go on break out mode then Bank Nifty has to perform a lot. Technical support still lies at 26400 levels. On higher side 27000 mark will be challenging.

12 June 2018: Nifty Elliott wave analysis: Nifty 10850 is just too critical for the day. Make or Break?

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

Analysis for 12 June 2018: -

On 11 June 2018: FII Net Sold – 1156.77 INR Crs:  DII Net Bought – INR – 1062.82 Crs

I quoted levels of 10800 to 10850 in my yesterday’s article. It’s a zone of resistance which is N- Line zone for reverse H&S pattern. It took a dot high at 10850 and then gave up. This makes 10850 levels a very critical one. I can say that it is a make or break levels. Big question is will it able to cross above 10850 levels. Reverse H&S pattern will be applicable above 10850 levels only.

Once it stands above 10850 then we can expect near to all –time high. So far this is a zone where bulls can be optimistic but be cautious at make or break levels. Can it reverse from here betraying bulls? Well, that’s what cautious is all about.  

For today’s trading session, market is expected to open on near 10770 levels as shown by SGX Nifty. Once it makes above 10850 then only one can be confident. Till that time it may invite dicey moves. Trading support will be at 10740 and then at 10710. Let us see what’s coming for the day.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June future is expected to start at 10770+ levels. Afterward we can expect a technical trading support at 10740 and then at 10710 levels. It hit the way I was expecting 10850 yesterday but then it gave us almost everything. This makes the day out from the bull’s grip. Let us see. If possible avoid trades on dicey days.

BANK NIFTY June future – Bank Nifty should have strength above 26400 but this is not delivering same kind of strength. Well, as long as 26400 holds one can hope but I am little sceptical at this point of time. So, I will avoid this index also. Suppose if it goes below 26400 then just assume that market is not making at tops. What’s goanna happen if it truncate at top?

11 June 2018: Nifty Elliott wave analysis: The most crucial week for Nifty. Making above 10800 can be great push!!!

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

Analysis for 11 June 2018: -

On 08 June 2018: FII Net Sold – 222.50 INR Crs:  DII Net Bought – INR – 459.44 Crs

When it was looking like to break on down side it revived. Now we have almost a reverse H&S pattern visible on daily chart. If this pattern works then we can expect a new all-time high. Technical patterns are looking for supportive on stock price. I am expecting this week to be dominated mostly by bulls.

Although I am talking the possibility of new all-time high but that does not mean that one can be aggressive on buying. This rise will see great limitation on higher side. On other hand it yet need to see close above 10800-10850 levels. If that starts happening, then only we can expect rise. So this is a crucial week.

For today’s trading session, market is expected to open on firm note with possible immediate support at 10710-10680 levels. On higher side I am expecting two import points, one is at 10800 and other is at 10850 levels.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June future is expected to start at 10770+ levels. Afterward we can expect a technical trading support at 10740 and then at 10710 levels. On higher side, we can expect 10850 levels on fair note. I am expecting some intraday dip which can be good opportunity to buy. One should be cautious on decisive time.

BANK NIFTY June future – Bank Nifty is not looking as impressive as Nifty. Important point is that it is above the most crucial threshold of 26400 levels. As long as it is above 26400 we can expect a move towards 26800 to 27000 levels. If 27000 have to come then we can expect this figure to come by this week only. good support is at 26200 levels.

05 June 2018: Nifty Elliott wave analysis: Nifty goes on alarming trades. Looks like we are on short term top !!!

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

Analysis for 05 June 2018: -

On 04 June 2018: FII Net Bought – 2354.03 INR Crs:  DII Net Sold – INR – 712.41 Crs

I do consider the high of 10760 as expiry day misguidance. As it was well short from 10825 resistance mark hence we saw almost a brutal fall after a positive start. This kind of moves used to happen after expiry. Today is crucial as it may again indicate the retest of support of 10440-10400 marks.

This fall may not have good chance of getting support on 10400 levels as waves may indicate the possible extension. If this happens then we can expect a possible great indication of a great dip. This may be the dip of life time. Be aware and stay away from any kind of investment.

For today’s trading session, market is expected to open negative note. Immediate next support will be at 10580 levels. Technical charts will be in the support for the possible target of 10500 for intraday. Expect a big day. On higher side 10660-10670 will act as zone of resistance.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June future is expected to start at 10580+ levels and this may turn out to be bear gap down opening. We may not see gap fill up. If this happens then day may end up near or below 10500 levels.

BANK NIFTY June future – Bank Nifty remains volatile than ever in recent days. Technical levels 26200 have some great importance but it will take down in gap down opening. The next big levels of support will be at 25800 levels. No levels can be safer at higher side. I have a view that Bank Nifty will hit more if great dip starts.

01 June 2018: Nifty Elliott wave analysis: A decisive Friday if market wants to take a new top to form this month.

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

Analysis for 01 June 2018: -

On 31 May 2018: FII Net Sold – 15.31 INR Crs:  DII Net Sold – INR – 266.02 Crs

All-time high for Nifty is at 11171. I am not very convinced with the move yet but it’s a truth that if Nifty wants to make a new all-time high then it has start closing above 10825-10850 levels in first few days of trade of this month. Can it happen? It is interesting to see the coming days. If it does not then a brutal fall must be in waiting. Sooner, market is going to take a direction for traders.

Momentum indicators are still in favour of bulls and looking to dominate. I need to say that market may try to adjust today with the rise of expiry hours.

For today’s trading session, I am expecting a positive to flat start which is itself going to be great thing after such a fall on DJIA. Technical support is immediate now at 10710-10680. As long as it is maintaining levels above 10710 we can expect a technical move towards 10780 and then 10825. Let us see how will market close today.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – After a flat to positive start Nifty June future will take support at 10700 levels. If I have to pick a trade then I will prefer to trade on long side from lower levels with possible stop loss at 10680 levels as Nifty future may try to move towards 10825 levels sooner. This rise may extend till early next week.

BANK NIFTY June future – Bank Nifty will prefer to knock for 27000 marks right now. Active traders can look for an opportunity to trade long side. Still, it is strongly suggested to add long in intraday dip only. Stop loss can be near to 26500 levels so one needs to wait for good dip. It looks like market will advance after a dip and also it may try to trap bears.

31 May 2018: Nifty Elliott wave analysis: Expect volatile expiry with few odd swings. Do not prefer to trade.

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

Analysis 31 May 2018: -

On 30 May 2018: FII Net Sold – 1286.91 INR Crs:  DII Net Bought – INR – 492.36 Crs

Well, we are on derivative expiry day. Has the month done too much? My answer is “no”. This was not traditionally known May month. Looking in to past two days of trade I feel that only hallmark for the day is going to be volatility. It can be on both sides, up and down. I am expecting trading range to be

Momentum technical indicators are looking to be little in favour of rise but I ignore all such signal for expiry day. I just avoid trading on expiry day due to unwanted swings.

For today’s trading session, I am expecting a positive kick off trade for the market. This may be just boosted by big rise in US market. It is going to be interesting to see how long it is going to shape up after one hour. Technical support will be at 10580 to 10570 levels. On higher side 10690-10710 will be trading resistance.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – SGX Nifty is showing for the start at 10650 levels. This is something where I just prefer to avoid fresh trade. It can take either way; it has possibility for 10700 levels as well as 10600 levels. It is just at mid points. Risk reward ratio is just 50-50 so expiry day may not be greatly in favour of trade. Although it seems that biasing is towards rise.

BANK NIFTY May future – Bank Nifty is still not looking comfortable. It has not shown the same strength as of Nifty. Technical support for Bank Nifty will be at 26100 levels. On higher side 26400 levels are going to be decisive. Let us see how it will react on 26400+ levels. If it can sustain above 26400 then we can see fresh addition of rise. I just think that even if strength comes then also it will not have great life.

30 May 2018: Nifty Elliott wave analysis: What a reaction at the resistance of 10710-10720 levels!!! Expect fresh dip today and tomorrow.

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

Analysis 30 May 2018: -

On 29 May 2018: FII Net Sold – 407.33 INR Crs:  DII Net Bought – INR – 578.38 Crs

Market shaped itself very well as projected by technical studies. It saw a bounce and then a dip. Now technical charts are suggesting fir the retest of support of 11440 and that is well 200 points from current levels. We are just a day away from derivative expiry of this month contract.

I already gave a word of caution from higher levels. If one has added short near the resistance which emerged later as top then they can prefer to hold short trades with proper stop loss till expiry. I can see a violent expiry this time.

For today’s trading session, I am expecting a lower as indicated by SGX Nifty. It may open near 10550 levels. We can expect two important trading support, one is at 10500 and then at 10440 levels. After opening, Nifty will face resistance at 10610 to 10640 levels. Do not opt trading long for today and tomorrow. One can focus on banking stock for trading opportunities.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – My suggest was for caution at top and words came true. Although I was not expecting such a sharp fall immediately. I can say that market has done something yesterday which I was expecting for today. Gap down is another spoiler. If one haven’t short from yesterday then one cannot initiate trade today.

BANK NIFTY May future – Bank Nifty looks alarming. If this starts falling then one can expect this to rest only at 25800 levels. There are no levels safer at higher side. Suppose if it opens at 26000 levels then risk reward will be much higher. Let us see where will it open and how much can it fall.

29 May 2018: Nifty Elliott wave analysis: Caution continues near the resistance of 10710 resistance mark.

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

Analysis 29 May 2018: -

On 28 May 2018: FII Net Sold – 795.06 INR Crs:  DII Net Bought – INR – 1017.65 Crs

I am not negative yet on market after a bounce of almost 300 points from the bottom. So far so good and bounce gave hope to the traders. To me the charting points are very important. As of now, 10710 are going to act as crucial resistance. If it can able to stand tall above 10710 then we can expect 10780-10800 levels.  Although I believe that bounce may not sustain if it fails at 10710 levels.

Good part of the trade is that we will get clarity by a day or two. Hence I wrote the word “caution”. A dip of nervousness may be at this point which can pull the market down.

For today’s trading session, I am expecting a lower opening which may not be too bad. After opening we can expect support at 10600 levels. I am not saying yes or no for long trade. One must watch the momentum and support. If Nifty tend to take support at 10600 or before then only I can think to trade long for intraday else I may pass the day for clarity on chart. Is it making at 10710 resistances or giving up? That’s the question.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – Nifty future to about to open at 10670 levels. This is not going to be bad opening but it just reacting at resistance at 10710 levels. Meaningful support is only at 10600 levels that are can make market volatile in case of fall. So, my preference is to buy in dip with stop loss just below 10600. Well, as I said I may ignore the day for trade for better clarity in trades. Buy call is just my view.

BANK NIFTY May future – Bank Nifty goes better than Nifty and that’s what I was expecting in bounce. In fact, banking stocks provided good trading support. Now, it is hits a high at 26675 and so it is extremely over bought in trading chart. I can expect some price correction but wait. This is not a call to trade short. If one wants to trade short then one must wait for the day. Today, we can see bounce from low. Hence, I am not on trade for the day.

25 May 2018: Nifty Elliott wave analysis: Litmus test for bounce will come today. Cautiously optimistic.

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

Analysis 25 May 2018: -

On 23 May 2018: FII Net Sold – 311.11 INR Crs:  DII Net Bought – INR – 789.78 Crs

We got the expected bounce. It was technical in nature which intraday traders must have enjoyed. Real test of bounce will come today. The biggest challenge on the chart is at 10560 levels on Nifty, a previous support will become resistance.

Now, it is the time to be concerned on Oil price. I rarely watch TV but I watched last night. I heard someone connecting higher oil price with development, so called Vikash. It is damn stupid logic. If a thing goes like this then economy has to pay a lot. So far, stock market has not reacted at all with higher energy oil price. At some point, Stock market will react.

If I connect the current pace of rise on oil price and compare with all time high then if it touches all time high again then we have to pay Rs 200-250 per Litre for Petrol.

For today’s trading session, I go with caution and I am expecting the extension of the rise which started yesterday. Technical support will be at 10480-10460. As long as it is above 10460, there is no point of shorting. On higher side we can expect first meaningful resistance at 10560. The next move will depend on the nature of market at 10560.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – Nifty future to about to open at 10515 levels. This is sufficient high to expect strength. It may take a dip before rise and then traders should prefer to trade long in dip with stop loss somewhere near to 10460. If it breaks 10460, then market to go on reverse mode again. Remember that market has yet to react with higher oil price sooner.

BANK NIFTY May future – Bank Nifty bounce sharper than expected and it came to 26000 levels. For today’s session we can expect technical support at 25800 levels. On higher side we can wait to see for 26100 levels. I am not very convinced for great extension of recovery hence I am going to trade limited and I will this index for long.

24 May 2018: Nifty Elliott wave analysis: Eighth day reversal is possible today. Hence, I may play for bounce.

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

Analysis 24 May 2018: -

On 23 May 2018: FII Net Sold – 311.11 INR Crs:  DII Net Bought – INR – 789.78 Crs

So far, it goes so good with great intraday dip which took Nifty below 10440 as expected. Technical set up is still in favour of bears even after big hammering on index without much great reason. This might be the reflection of market undertone which is definitely not very confident. This used to be my words from past many months that confident money is not participating in market since long hence market has limited up move.

What are the chances of bounce? Well, today is the eighth day from the top of 10929. If it has to bounce then we have no better day than today.

For today’s trading session, I will either sit on side line of trade on long side with suitable stop loss. My strong terms and conditions is that Nifty must stand above 10400 for me to go long. I will play with my usual stop loss of 30 points. I am going to trade as per wave indicated. If it works then I should expect a bounce of 100 points from today’s low. This bounce may have life till tomorrow at least. I must repeat that sooner or later market will head towards 10000.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – Nifty future has almost over done in very short term chart and a bounce deserve. As said above I am just preparing to play for bounce on a condition that as long as it is saving 10400. Let us see where it opens and where can we able to buy with conviction.   

BANK NIFTY May future – Bank Nifty goes to the low of 25550 levels and it was almost 250 points down from the recommended figure of 25800 levels. Now for the day I am expecting at least on attempt for reversal. I must repeat that this is going to be bounce which is just technical in nature after over sold zone. It arises due to long sell off of nearly 1400 points. Expect 25800 in bounce.   

23 May 2018: Nifty Elliott wave analysis: Yesterday’s low must be respected to see any pullback in the market. If breaks then no possibility of pullback.

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

Analysis 23 May 2018: -

On 22 May 2018: FII Net Sold – 1651.63 INR Crs:  DII Net Bought – INR – 1496.83 Crs

Intraday bounce hit yesterday but died near 10560 which were expected in the line. For today’s session market may take another attempt. In doing so market need to respect yesterday low of 10490. We are living on the edge of another possible fall if it breaks 10490. It can easily give up fresh 40-50 points in very short time.

On higher side Nifty will face resistance at 10555-10560 levels.

For today’s trading session, my views remain same. Either it can revive but such chances are not so bright. For shorting on trades on index one can wait for the break of yesterday’s low. On other way it may give sign of weakness like yesterday from the top. I need to be fair. Nifty may try to take a race towards 10400 levels if sell off begins with fresh money.  

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – Nifty future took support at 10500 yesterday. For today’s session it may get a flat opening. Now, suppose if it breaks lower on nervousness then it will generate a short signal below 10500 for the quick fall of 40-60 points. This may be opportunity for traders.  

BANK NIFTY May future – I am keeping study for Bank Nifty remains same. It is playing around 25800 support levels and this may give first sign of pullback. This may be more impressive than Nifty if pull back comes. Time is on for pullback but take caution. If it breaks below then who knows it can again slip shaper. Sooner or later this will fall but for the time being I am eyeing for pullback.

22 May 2018: Nifty Elliott wave analysis: It slipped below 10555 and next likely support will be at 10440. Even a little pullback wouldn’t help much.

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

Analysis 22 May 2018: -

On 21 May 2018: FII Net Sold – 496.03 INR Crs:  DII Net Bought – INR – 1190.56 Crs

This was expected and it closed much below 10555. This is a clear sign of threat but looks like it has over done in short term. From euphoric impulse, we are on sixth day today. Even if pullback comes then also it may not sustain. Question is, can we expect pullback? My answer is that we can expect at least one such attempt and what can be better than today when global market is doing well.

I am expecting attempt for 10555+ levels today and then once again market can exhibit weakness at some higher point. It may not be safer to short without pull back.

For today’s trading session, market is likely to take moderate to flat opening with possibility of pullback with can take this to some higher levels near 10555. I am not very firm for today’s trade. If it shows weakness near top above 10555 then only can plan to trade short else market may reflect some strength. Be careful for trades. All possibilities are open.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – Nifty future once again goes the way I was expecting and slipped faster once it broke 10600 levels. Now, it has trading support at 10500 and the break will give 10440 levels. I would rather prefer to trade short on rise if it gives signs of weakness near top. Let us see if it comes.

BANK NIFTY May future – It is playing around 25800 support levels and this may give first sign of pullback. This may be more impressive than Nifty if pull back comes. Time is on for pullback but take caution. If it breaks below then who knows it can again slip shaper. Sooner or later this will fall but for the time being I am eyeing for pullback.

21 May 2018: Nifty Elliott wave analysis: Final Support is at 10555-10560. In case, it gave up gap up then test of 10560 is very likely.

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

Analysis 21 May 2018: -

On 18 May 2018: FII Net Sold – 166.15 INR Crs:  DII Net Bought – INR – 149.58 Crs

Whole last week went in favour of bears. Nifty has closed below 10600 levels with low at 10589. The very next and the most important support are at 10555 levels as quoted on the given chart. Technical set up is suggesting that one should not opt shorting now unless it breaks 10555 levels on decisive note. Right now, SGX Nifty is pulled due to sharp rise in Dow Jones Futures.

It was suggested last week that Nifty has support decisive support near at 10560. Time has come to test the support.

For today’s trading session, market is likely to take gap up under the effect of SGX Nifty which is running parallel to the DJIA Future. This may not be the reality for Indian market. Suppose if it opens higher and then starting giving up again then it can test levels near to 10555. If it maintains gap up like 10630 then this can be other way around. Monday is decisive for the week. I am warning again that May month fall has bad history.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – Nifty future goes the way it was predicted. Now, things are looking to get a higher opening of odd 30-40 points. If it can manages to maintain this gap up then only it can give a turnaround story but this may not be likely. I suggest waiting and watching for the day before hitting trades. If it goes below 10600 then 10555 is very likely.

BANK NIFTY May future – It hit my suggested levels of 25800. Just see how easily it can give up 1000 points in a week. This is the true reflection of market undertone. Now, keep an eye on 25800. This may be nasty if it breaks. To me, charts of BankNifty is weaker compared to Nifty. I am keeping this point under observation. Avoid adventures.

18 May 2018: Nifty Elliott wave analysis: Support for Nifty is at 10600-10560 and then a possible panic fall. (To save fall-today must be positive close)

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

Analysis 18 May 2018: -

On 17 May 2018: FII Net Sold – 830.94 INR Crs:  DII Net Bought – INR – 428.92 Crs

I have updated for the fall to be steeper one the break of 10700. Nifty goes in the same way. Today is Friday and market is not shaping well to get support at lower levels. Fibonacci based retrenchment is showing that market can extend its fall towards 10560 levels too.

I can expect some trading support at 10600 and then it can get next support at 10560 levels. This is definitely alarming on charts although this warning sign is not visible on momentum side. This kind of pattern deserves caution.

For today’s trading session, market is likely to take another soft opening. Technical charts have a sense that it can get support 10600 levels after losing support at 10700. There are many momentum technical indicators which are indicating that this fall can turn nasty sooner. Remember, May fall of this kind has a bad history if it get support of momentum. I cannot deny such situation.

Avoid any kind of investment as market is still looking expensive.

Strategy for Nifty May future – Nifty future has seen almost 200 points of fall. It is likely to open around 10670. Afterward we can expect trading support at 10650. Break below 10650 will give you a quick fall of 30-50 points. On higher side it will face resistance at 10720-10740 levels.

BANK NIFTY May future – I have already quoted for the possibility of 26000 which turned a reality yesterday. Now, technical charts are shouting for the next support at 25800. I am firm on my view that this index may be in trouble in near future. Impulsive and short term rise can be utilized for trading purpose only. A nasty fall will come sooner !!!