Nifty

Time to liquidate Short term trading positions on Index!

Nifty has been range bound in recent sessions after it gives a first tick of movement. But in such a course it has given a perfect move on 5 Wave theory! Nifty is currently into a 3rd Wave of a minor trend and its expected to end this Wave within next 2 sessions. Technically, Nifty is about to resist …

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Nifty

Bottom is yet away!

Hello Readers! Finally after a long break am back to my blog. Nifty has crossed 10000 mark in pretty short time and so the correction which has kicked off is gonna be more sharp and deep from current close of 9837. Lets have a look at the Nifty daily chart! So if we mark our recent …

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Nifty

Nifty closed below two strong supports!

Nifty Continued with is volatility throughout the week but Evening star pattern on Weekly charts and Bearish Engulfing pattern on daily chart which i mentioned in my last post : “Nifty near to triple Support” are still Valid.  Additionally , Two supports out of three which were crucial for the week has been breached on Friday …

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Nifty

Nifty near to triple Support

Nifty has been pretty range bound since last two expires with slowly pinching new high but since this monday we have got some signs of profit booking. Since my last two posts i was awaiting a small profit booking on the index and finally this week has given some strong signs of downside move.  Though …

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Nifty

After daily chart, Weekly follows for bearish reversal on Nifty

Nifty had been quite volatile in last few sessions between 9400-9500 but during this course, as as expected in my last post: Is Doji Indicating a false breakout? , Doji did confirm bearish reversal pattern “Evening Star”  on daily chart. What did confirm Doji? ….Red candle on 18th May which closed 50% below green candle just prior to Doji and another red candle …

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Nifty Nifty Bank

Is Doji Indicating a false breakout?

Nifty managed to close above 9500 for the second day which made some traders over confidence for some more long trades…but STAY CAUTIOUS! In my last post (Range volatility expected but find sector specific moves) i mentioned to WRITE  9200 PE and 9500 CE , surely you might be in loss for M2M in CE writing but wait.  Open interest …

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Nifty

Was it a Wave 4th truncation today at 9120?

Nifty has been in consolidation since UP election results on 14th March which is almost a month now. We have been consolidating strictly between 9000-9250 but with strong stock specific movement. On the other side Nifty Bank has been out performing by holding 21500 level since quite a long time. Looking at Nifty daily chart , as …

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Nifty

Friday was just a speculator profit booking

Nifty has been on a dream run since start of 2017 but Friday’s last 30 mins shook long term traders and many of them squared-off longs in fear .After studying fall on chart , it seems it  was just a speculator’s profit booking as still we havent got any clear pattern of strong reversal on charts. So as …

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Nifty

Better late than Never!

Good evening Readers. Last 3 weeks have been pretty much of a rally and it was difficult to say we wont get any correction until we opened gap up after UP results on  this Monday. Many of my blog followers would have felt they lost money as i was bearish on Nifty since my last post …

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