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

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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.

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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.

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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.