First Update of 2016 !!!

An update on the same old chart posted in March 2015 with two long term scenarios explained above and below 8135.  The scenario of Nifty below 8135 level has been unfolding and Nifty closes for the first time in 52 weeks below 7000 level and likely to face resistance @ 7365 and the second bearish target of 6555 is just 400 points away.  It will be a short on rise scenario for the next 2-3 months until and unless the volatility index (VIX) does not fall below 20 levels and brings stability to the prices.  The volatility tends to go berserk in a highly confused market with panic setting in. 

Happy trading !!!

Second Update - 2016

Volatility index contained below 20 and Nifty creeps up from the lows of 6825 in February towards 7950 so far and now likely to attempt 8050-8135 based on the results of the top players.  Happy trading !!!

BREXIT AND AFTERMATH 

Further to the earlier update, the Volatility has breached the level of 20 in the aftermath of the Brexit vote and the instant reaction of the market to drop into an indecisive phase.  Once again, it can be observed that the technical level of the 8135 in the market is once again into the picture and Nifty is weaving around this level as a pivot.  Happy trading !!! 

NIFTY DECEMBER 2015 SERIES !!!

NIFTY 50 - enters the December series after getting support @ 7725.  There is no major change in the support/resistance levels of Nifty levels since March 2015 and the bulls will hope 2015 year closing around 8400+ levels after facing resistance at levels of 8800-8400-8135 levels to finally take support at 7550-7750 levels.  The key level remains 8135 spot price.  Happy trading !!! Wish all the blog readers very HAPPY 2016 in advance  :) :) :) 

NIFTY OVERVIEW - APRIL 2015 - OCTOBER 2015 !!!

NIFTY VIEW FOR NEXT 45 DAYS: LEVEL OF 8135 IS IMPORTANT LEVEL ON DOWNSIDE BREAK OF WHICH WILL CONFIRM THE BEAR TARGET. DEAD CAT BOUNCE UP TO 8545 IF SUSTAINED THEN BULLS MIGHT ENTER THE MARKET BIG TO TAKE IT PAST THEIR TARGET OF 9120 AND 9705 ON CLOSING BASIS. ONLY TRIGGER FOR BULLS IS EXPECTATION OF GOOD AND STRONG CORPORATE RESULT SEASON BEGINNING APRIL 9TH AND ENDING IN THE NEXT 45 DAYS !!! HAPPY TRADING !!!

NIFTY CONTINUES TO TRADE AROUND THE MAJOR BREAK DOWN LEVEL OF 8135 SINCE APRIL WITH RETRACEMENT UP TO 8845 AND LIMITED DOWNSIDE.  THE VIEWS EXPRESSED IN APRIL AND TARGETS IN CHART REMAIN VALID EVEN 60+ DAYS AFTER POSTING THIS VIEW.  THE POWER OF TECHNICAL LEVELS ON LONGER TIME FRAME IS UNFOLDING NOW AFTER A YEAR OF BREAKOUT BETWEEN MARCH 6, 2014 (Nifty 8400) to  MARCH 4, 2015 (Nifty 9119 high).  HAPPY TRADING !!!

NIFTY ENTERS THE MONTH OF SEPTEMBER CRACKING UNDER GLOBAL CUE PRESSURE GIVING A NEW LOW OF 7670 AND NOW BOUNCING BACK .  LEVELS OF THE CHART POSTED IN THIS POST STARTING FROM APRIL ARE PROVING TO BE HOLDING VERY WELL AND NOW ONLY CLOSE ABOVE 8135  SPOT PRICE WILL BE CRUCIAL FOR BULLS.  IN A CRACKING MARKET SUPPORT LEVELS ARE HIGHLY VULNERABLE TO BREAKING DOWN.  LEVEL OF 7345 IS THE ONLY LIKELY SUPPORT LEVEL BELOW 8135.  A TRADING RANGE BRACKET IS GETTING FORMED AND MOST LIKELY BE 7345-8135/8350 FOR SEPTEMBER SERIES !!!

NIFTY ENTERS OCTOBER SERIES AND GIVING A NEW LOW OF 7539 IN SEPTEMBER AND FACING RESISTANCE @ 8055.  REVERSAL LEVEL FOR OCTOBER REMAINS 8135 WHICH HAS PROVED TO BE A GOOD PIVOT POINT DEVELOPED OVER THE PAST 6 MONTHS.  RESULT SEASON STARTS AFTER OCTOBER 10TH AND RBI RATE CUT EXPECTED ON SEPTEMBER 29TH CAN TAKE NIFTY PAST 8135 TOWARDS 8545.  SEPTEMBER 29TH RBI POLICY REVIEW WILL BE VIEWED VERY CAREFULLY BY THE MARKET BEFORE BREAKING THE 8135 BARRIER.  HAPPY TRADING !!!

Happy 2015 !!! Nifty January 2015 series Overview !!!

WISH ALL READERS OF MY BLOG A MERRY CHRISTMAS AND PROSPEROUS  HAPPY NEW YEAR !!!

January 2015 Series Overview:

The December series began with the highest life time close of 8588 and then corrected substantially towards the lowest close of 8029.8 and now ends the series just above the important level of 8174 after filling a few gap up and gap down openings. January 2015 is likely to be an even bigger eventful month with just one level being of interest to both bulls and bears - 8310. Above 8310, Nifty should make new highs around 8800/8900 with the result season due in the middle part of January. Before that , till around January 5th, some range bound levels between 8150-8310 can be expected. Below 8150, a quick fall/visit to 7725/7655 cannot be ruled out to test the 233-day EMA/SMA levels as the year is almost getting over and testing longer term moving average of 233-EMA/SMA will be an appropriate bottom to begin the new year with. Happy trading and Wish you and your family a VERY HAPPY 2015 !!!

December 2014 Nifty Series - Poised to make yet another new high !!!

As we enter the last month of the most bullish year in Indian market, the Nifty is poised to begin the last month December series of the year with yet another new high to continue with the break out trend that began from last December. Hope the December turns out to be the best month to remember in 2014 ! Merry Christmas !!! Happy trading !!!

Nifty November series - Opens with another breakout !!!

The November series begins with break out above 8180 levels on spot price and Nifty poised to touch 8500 levels now with this break out. The year 2014 has been a year of break outs and the important level on time cycle have been marked on the time cycle grid. Happy trading and enjoy this very strong bull run !!!

Happy Diwali

I WISH A VERY HAPPY AND PROSPEROUS DIWALI TO ALL READERS OF MY BLOG ! 

GOD BLESS AND TAKE CARE !!!