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.