23 March 2016: Nifty Elliott wave analysis: Longer it sustain above 100 DMA, it can give 7900 also on or before expiry day.

  

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

For 23 March 2016: -

On 22 March 2015: FII Net Bought – INR 1095.44:  DII Net Sold – INR – 930.37

Today is the last trading day of the week and market will open directly on Monday with expiry week. This fact can restrict market from going higher. It is equally true that as long as Nifty is staying above 100 DMA we can expect a UP and may be a very UP expiry.  

So far, I have anticipated for 7800 on rise but I must add that if market gets desired fuel then 7900 may also be possible. I have a strong view that market will make a top with rate cut.

For today’s trading session, Market may open flat but with dull trade. I do not prefer to trade today. Technical charts are saying for an up move to sustain as long as 7650 levels. I still expect 7800 but I have no idea about timing due to holidays.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty March future – We may expect opening around 7730 only. It will face technical resistance at 7740-7750. If it can surpass 7740-7750 then one can expect 7800 levels on higher side. Technical support should emerge at 7650 levels. Shall we buy dip? Well, only time can answer. One thing is for sure that if it miss 7740-7750 on higher side then it is a sell for some limited gain. Alter sense is buy above 7750.

S&P 500 (USA) – I am keeping my study same. Market is looking under consolidation mode before any decisive move. It is still likely to move towards 2100 as long as it holds 2030 levels. I am seeing a rise after consolation but for long term direction this market is exit on any rise. Trades may not be easy as range can be small. 

22 March 2016: Nifty Elliott wave analysis: I anticipate a top with Rate cut in next monetary policy. 7800 is a possibility before event.

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

For 22 March 2016: -

On 21 March 2015: FII Net Bought – INR 1396.33:  DII Net Sold – INR – 618.77

Has market discounted a 50 basic point rate cut in next monetary policy review? Well, no one knows the answer exactly. I can anticipate one view – A top with rate cut. Now, next question is what can be a possible Nifty value at top? This is tough but traders always need to hunt for this kind of value.

My anticipation is that no top can go higher than 7800 as of now. Remember we have a very short week. This makes me feel that market will either go range bound of may see some selling from higher in zigzag manner.

I have anticipated for a possibility of 7700+ once it stays above 7630 and we got that desired move.

For today’s trading session, Market may open flat but we will see massive resistance emerging at higher end. Interesting is that – Is it crossing 100 DMA or will it top at 100 DMA.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty March future – We may expect opening around 7700 only. It will face technical resistance at 7740. If it can surpass 7740 then one can expect 7800 levels on higher side. During trading hours we may get signal – either we can buy above 100 DMA or we can short below 100 DMA. Do not opt easy contra deals as it may be misleading.

S&P 500 (USA) – I am keeping my study same. A up as long as 2030 holds. It is good to see S&P moving above 2045 with ease. Technical charts are suggesting that a move towards 2100 may come. A trading correction may hit but all such may turn to be opportunity to buy. I must say that 2030 is a level below which traders should avoid long for caution. Next quarterly earnings will be a decider for rest of the year. I must say that I still intact on my long term direction which is down and this rise is one strong bounce for exit.   

21 March 2016: Nifty Elliott wave analysis: 7700 is a destination if it can stays above 7630 for some time.

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

For 21 March 2016: -

On 18 March 2015: FII Net Bought – INR 1712.62:  DII Net Sold – INR – 403.37

Well, rate cut on saving should have been highlighted by media group but no one has focused. Is this the way to recovery NPA??????????????????????????????????

Government is definitely cooking something nasty. It has no sense and please keeps me out from any illogical political logic. It has nothing to do with bond yield. Indian economy will not get any good out of these steps. I am sure NDA leaders would have opposed all such steps if these decisions would have taken during UPA tenure.

Based on wave chart, a topping pattern may emerge anytime. On other charting sense based on moving average suggests me that if Nifty manages to close above 7630 then a move towards 7700 is strongly possible.

For today’s trading session, Market may open higher a little. I will not prefer to buy in first half in any case. While if Nifty stays well above 7630 till second half then I will opt to trade long.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserves to be part of everyday article.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty March future – We may expect opening around 7630 as reflected by SGX Nifty. Unless it goes above 7650, I do not think that bulls can play it brave way. Let it settle higher for first half and if it can sustain above 7650 then only think to buy.

S&P 500 (USA) – It is good to see S&P moving above 2045 with ease. Technical charts are suggesting that a move towards 2100 may come. A trading correction may hit but all such may turn to be opportunity to buy. I must say that 2030 is a level below which traders should avoid long for caution. Next quarterly earnings will be a decider for rest of the year. I must say that I still intact on my long term direction which is down and this rise is one strong bounce for exit.   

18 March 2016: Nifty Elliott wave analysis: Will it cross 7600 or will it die before 7600? Today we will get answer.

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

For 18 March 2016: -

On 17 March 2015: FII Net Bought – INR 744.49:  DII Net Sold – INR – 168.38

We saw intraday dip of 100 points from higher levels leaving bulls stunned in last minutes of trades. I must that this may have happened due to resistance of 100 DMA. I was expecting this. I am not too negative but I still expect price correction with consolidation. As long as 7400 holds on Nifty spot, short term direction will remains up.

For today’s trading session, Market may open higher backed by rise in US market. Shall we buy? My answer is no. 7470 may act as good trading support while 7600-7630 is a key resistance. Trading opportunity will be on weaker side for short. Wait for intraday signal of weakness. Expect nervousness from some levels. I feel that market has done with expectation of rate cut.

A reader has suggested deleting the paragraph given below. I must say that these are long term charting view with warning sign and hence it deserve to be part of everyday article.

Let me clear what weekly charts are saying. A full 1500 points of fall is possible from 7500 levels. I have no idea if it gives 100% result what it is showing on theory but the target lies near 6000. Sorry, if words hurts you but this is what I feel. I do not see Nifty going at 8000 anymore in easier way.

It looks like H&S pattern is taking its effect. Well, if H&S pattern goes on its true mode then 7200-7100 is the possibility. Meantime Nifty is over sold for short term and intraday chart. This says that market may ignore MACD positive divergence and sooner or later it will hit 7200-7100 levels. After that 6500 will be the figure which people will talk about.

Please visit our ‘intraday updates’ to get further updates or to take good advantage join paid services.

Strategy for Nifty March future – We may expect opening around 7530-7540. Unless it goes above 7600, I do not think that bulls can play it brave way. If it give up early gain then we may have good chance of slide but only if short signal emerges. Let us see.

S&P 500 (USA) – It took out 2030 resistance we saw a very healthy gain on Wall Street. It has a chance of hitting 2075 levels. Please take a note that 2045 is a mild resistance area based on charting. It had a multiple time support at 2045 when it was higher few months back. Now, that support may act as resistance but so far direction looks up.