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NIFTY SPOT CONTINUES TO REMAIN IN A TIGHT FLAT RANGE & MOST LIKELY THIS TIGHT RANGE BOUND BEHAVIOR OF NIFTY WILL CONTINUE TILL EXPIRY OR TILL THE END OF THIS YEAR. MONDAY 24TH DECEMBER SAW NIFTY SPOT HIGH OF 5871 & LOW OF 5844, A VERY TIGHT RANGE OF ONLY 27 POINTS EVEN LOWER THAN LAST WEDNESDAY 19TH DECEMBER RANGE OF 29 SPOT NIFTY POINTS. FOR WEDNESDAY 26TH DECEMBER, SPOT NIFTY HAS NOT ONLY TO BREACH MONDAY 24TH DECEMBER HIGH OF 5871 SPOT & 5877 FUTURE LEVELS BUT ALSO HAS TO SUSTAIN ABOVE IT BY CLOSING A 30 MINUTE CANDLE ABOVE IT TO SHOW A GOOD MOVE UPWARDS. EVEN BREACHING AND SUSTAINING ABOVE SPOT NIFTY LEVEL OF 5866 OR 5872 FUTURE LEVELS COULD GENERATE SHORT COVERING TO PROPEL NIFTY UPWARDS. SIMILARLY ON THE LOWER SIDE, SLIDE OF SPOT NIFTY BELOW 5844 OR FUTURES BELOW 5854 COULD BE THE EARLY SIGNAL FOR FURTHER FALLS.

FOR INTRADAY TRADING ON WEDNESDAY 26TH DECEMBER, ONE MAY TRADE LONG IN CASE NIFTY FUTURES BREACHES AND SUSTAINS ABOVE 5873 & MORE LONGS BE ADDED IN CASE NIFTY FUTURES BREACHES AND SUSTAINS ABOVE 5885. SIMILARLY ON THE LOWER SIDE IN CASE NIFTY FUTURE FAILS TO BREACH OR MORE IMPORTANTLY FAILS TO SUSTAIN ABOVE THESE LEVELS THEN ONE CAN BOLDLY TRADE SHORT & MORE SHORT BE ADDED SHOULD NIFTY FUTURE FAILS TO HOLD 5850 TO 5848 SUPPORT ZONE. FAILURE TO HOLD THE CRITICAL SUPPORT OF 5850 TO 5848 FUTURE ZONE(5840 SPOT) MAY SEE NIFTY SLIDING TOWARDS 5838 FUTURES(5828 SPOT) OR TOWARDS 5826 FUTURES OR 5815 SPOT NIFTY LEVELS TO AGAIN SHOW A SOLID BOUNCE UPWARDS.

FOR INTRADAY TRADING PURPOSE ON MONDAY 24TH DECEMBER FOR MONDAY OR FOR ANY DAY DURING THE TRUNCATED WEEK, BESIDES THE MONTH & YEAR END WEEK, THE FACTOR THAT WILL INFLUENCE THE MARKET IS THE CLOSING OF SPOT NIFTY AROUND 5848 BELOW THURSDAYS LOW OF 5881. THE CANDLE OF WEDNESDAY WAS A 7TH NRB WITH HIGH AT 5939 & LOW AT 5910. ALTHOUGH ON THURSDAY NIFTY SPOT MADE A LOWER LOW AT 5881 YET IT MOVED UP TO CLOSE AT 5916 ABOVE 5810 SPOT, THE LOW OF THE 7TH NRB OF WEDNESDAY. HOWEVER ON FRIDAY NIFTY SPOT MADE A LOW OF 5841 AND WAS MADE TO CLOSE AT 5848 MUCH BELOW 5910 SPOT, THE LOW OF THE 7TH NRB . ALTHOUGH IT WAS A WELL COORDINATED MOVE BY DOW OPERATORS WHO HAD MANIPULATED DOW FUTURES TO REMAIN LOW AT 165 TO 170 POINTS NEGATIVE DURING THE ASIAN TRADING HOURS ON FRIDAY TO GENERATE

MARKETS ARE IN EXTREMELY BULLISH MODE. JUST LOOK FOR A DECLINE TO GO LONG. THE DECLINES MAY COME IN THE FORM OF OLD FINANCIAL CHANNELS PLANTING OLD & HARASSING STORIES TO PULL THE MARKETS DOWN FOR THEIR OWN ENTRY AT LOWER LEVELS. LAST WEEK NIFTY FUTURES HAD MADE A HIGH OF 6003 ON 11TH DECEMBER. MOST LIKELY NIFTY WILL MOVE UP TO TEST THE HIGHS OF LAST WEEK.. ON TUESDAY IN SPITE OF NO RATE CUT & IN SPITE OF FINANCIAL CHANNELS TRYING THEIR BEST TO DEPRESS THE MARKETS, NIFTY FUTURES STILL WENT UP FROM THE LOW OF 5838 TO A HIGH OF 5950 TO FINALLY CLOSE THE DAY AROUND 5930 FUTURE LEVELS.

FOR WEDNESDAY A DECLINE BELOW 5912 FOLLOWED BY 5903 WILL AGAIN MAKE NIFTY FUTURES WEAK. HOWEVER, FOR INTRADAY TRADING PURPOSE, SLIDE OF NIFTY FUTURES BELOW 5909 FOLLOWED BY 5900 CAN BE SHORTED FOR QUICK GAINS

FOR MONDAY’S INTRADAY TRADING PURPOSE, ALTHOUGH TECHNICALLY THE CLOSURE OF FRIDAY LOOKS HIGHLY BULLISH, DO NOT BE SURPRISED TO SEE DOW FUTURES DISPLAYING NEGATIVE VALUES TO PULL DOWN ASIAN MARKETS AND OPERATOR INFECTED SGX NIFTY MAY SHOW MILDNESS OR NEGATIVE FIGURES TO INDUCE A NEGATIVE OPENING TO THE WEEK. OLD FINANCIAL CHANNELS WILL NOT HESITATE TO PLAY THEIR NASTY GAME OF PULLING OUT OLD HARASSING NEWS TO DEPRESS THE MARKET OPENING.

AS PER ELLIOT WAVE, NIFTY MOST LIKELY WILL PAUSE FOR A FEW DAYS BEFORE BLASTING OFF AGAIN TOWARDS NEW LIFE TIME HIGHS EARLY NEXT YEAR. FOR THE COMING WEEK ENDING 14TH DECEMBER, SPOT NIFTY LEVEL OF 5838 WHICH WAS THE LOW OF 6TH DECEMBER, CAN BE KEPT AS STOP LOSS TO BUY ALL DECLINES TOWARDS THIS 5838 SPOT NIFTY LEVELS. A DECISIVE BREACH OF THIS CRITICAL SPOT LEVEL OF 5838 ON ANY DAY MAY BE BOLDLY USED BY INTRADAY AND SHORT TERM

INDIAN MARKETS ARE EXTREMELY BULLISH. JUST PRAY FOR A DECLINE TO BOLDLY BUY AND ADD ON TO THE LONG POSITIONS FOR GREAT GAINS IN NEAR FUTURE. EXPECT ANOTHER GAP UP ON FRIDAY & IN CASE GAP UP IS NOT THERE THEN WAIT FOR AN INTRADAY DECLINE TO BUY & BUY ONLY. AS LONG AS NIFTY FUTURE IS ABOVE 5944 BUY ONLY WITH AN INTRADAY STOP LOSS BELOW IT TO REVERSE FOR SHORTS. SIMILARLY ON THE HIGHER SIDE NIFTY FUTURE TURNS MORE STRONGER ABOVE 5999 TOWARDS 6013 & 6025 OR HIGHER LEVELS. FAILURE ON THE PART OF NIFTY FUTURES TO BREACH 5999 OR 6013 CAN BE SHORTED BY HAVING REASONABLE STOP LOSSES FOR QUICK INTRADAY GAINS. NIFTY FUTURES MAY APPROACH 6300 IN NEXT FEW WEEKS ONLY, EITHER DURING EARLY JANUARY 2013 IN CASE IT DOES NOT COME BY END OF DECEMBER 2012.

NIFTY AFTER TWO DAYS OF PAUSE ON MONDAY & TUESDAY, BLASTED OFF WITH A GAP UP ON WEDNESDAY AND MANY MORE OF SIMILAR UP MOVES ARE IN STORE FOR INDIAN MARKETS IN THE NEAR FUTURE THAT ENCOURAGES MEDIUM TO LONG TERM INVESTORS TO LOOK FOR AN INTRADAY DECLINE TO BOLDLY BUY AND ADD TO THEIR LONG POSITIONS FOR GREAT GAINS IN THE MARKET FRIENDLY MONTH OF DECEMBER. TRADERS MAY HAVE A STOP LOSS BELOW FUTURE LEVEL OF 5925 AND BUY THE DECLINES TO SEE 6000+ LEVELS IN THE NEXT DAY OR TWO.

FOR THURSDAY’S INTRADAY TRADING PURPOSE, EXPECT ANOTHER GAP UP & IN CASE GAP UP DOES NOT COME THEN ONE MAY SEE MARKETS RISING AFTER INITIAL SLUGGISHNESS TO MOVE UP AND BREACH WEDNESDAY’S HIGH OF 5958 FUTURE LEVELS. A DECISIVE BREACH OF 5960 FUTURE LEVELS INITIALLY FOLLOWED BY 5968 MAY SEE MASSIVE SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS 5977 TO 5985 LEVELS IN QUICK TIME TO BE AT THE STRIKING DISTANCE FROM THE PSYCHOLOGICAL LEVEL OF 6000 FUTURE LEVELS. ONCE NIFTY FUTURES MANAGES TO SUSTAIN ABOVE 5977 TO 5985 ZONE THEN THERE IS EVERY POSSIBILITY OF TESTING THE 6000 FUTURE LEVELS EARLY.

SIMILARLY ON THE LOWER SIDE, FAILURE TO BREACH 5960 TO 5969 FUTURE ZONE MAY BE BOLDLY USED TO RUTHLESSLY SHORT THE MARKETS FOR QUICK GAINS ON THE DOWN SIDE BY HAVING A STOP LOSS ABOVE THIS ZONE TO REVERSE FOR LONGS. NIFTY FUTURE FINDS STRONG SUPPORT AROUND 5929 BELOW WHICH 5920 TO 5915 IS THE NEXT SUPPORT ZONE TO BRING BACK THE BULLS FROM ALL DIRECTIONS TO PROTECT THE 5900 FUTURE LEVELS.

NIFTY IS GOING TO BEHAVE EXACTLY SIMILAR TO THAT WAS SEEN ON TUESDAY 4TH DECEMBER. SO, THERE IS NO CHANGE TO WHAT WAS WRITTEN BELOW FOR 4TH DECEMBER. BUYING MAY BE PLANNED AS NIFTY FUTURE APPROACHES 5890 AND AGAIN AROUND 5870. SIMILARLY SELLING MAY BE PLANNED IN CASE NIFTY FUTURE FAILS TO BREACH 5945 WITH STOP LOSS ABOVE 5960. ON FURTHER RISE TOWARDS 5975 TO 5980 FURTHER SHORTS MAY BE PLANNED. MOST LIKELY NIFTY WILL HAVE RANGE BOUND MOVE FOR ANOTHER DAY OR TWO WITH A NEGATIVE BIAS BEFORE BLASTING OFF TOWARDS MUCH HIGHER LEVELS IN DECEMBER.

NIFTY FUTURES AFTER THE BIG RISE FOR 3 DAYS LAST WEEK, IS LIKELY TO REMAIN RANGE BOUND SIMILAR TO MONDAY WITH A BULLISH BIAS. INTRADAY SUPPORT FOR NIFTY FUTURE IS GOING TO BE AROUND 5888 TO 5880 BELOW WHICH I MAY SLIDE TOWARDS FRIDAY’S LOWS OF 5868 TOWARDS 5860 FROM WHERE ONE MAY EXPECT A SOLID BOUNCE AGAIN IN NIFTY FUTURES. SIMILARLY ON THE HIGHER SIDE SUSTAINING ABOVE 5933 TO 5936 MAY LIFT NIFTY FUTURES TOWARDS 5947 TO 5953 ABOVE WHICH EXPECT ANOTHER RISE TOWARDS 5965 OR HIGHER LEVELS. A DAY OR TWO OF FLAT PAUSE AFTER THE BIG RISE OF LAST WEEK ARE WELCOME SIGNS FOR THE BULLS AND MEDIUM TO LONG TERM INVESTORS SHOULD BOLDLY BUY THE INTRADAY DECLINES AND HOLD FOR GOOD GAINS WITH STOP LOSS BELOW THE FUTURE’S LEVEL OF 5858.

FOR MONDAY’S INTRADAY TRADING PURPOSE, HAVE STOP LOSS BELOW THE CRITICAL FUTURE ZONE OF 5898 TO 5888 AND BOLDLY GO LONG ON EVERY INTRADAY DECLINE TO ONLY QUIT IF THIS CRITICAL FUTURE ZONE OF 5898 TO 5888 IS BREACHED TO GO SHORT BELOW IT. SUSTAINING BELOW 5888 MAY SEE NIFTY FUTURES SLIDING TOWARDS 5872 LEVELS BELOW WHICH FRIDAYS GAP LOW OF 5868 OR 5858 SHOULD SEE THE HEFTY BULLS COMING BACK IN FULL VIGOR TO LIFT NIFTY FUTURE TOWARDS NEW YEARLY HIGHS. SIMILARLY ON THE HIGHER SIDE, NIFTY FUTURE WHICH HAS CLOSED AROUND 5906 ON FRIDAY MAY FIND INITIAL RESISTANCE AROUND 5929 FOLLOWED BY 5940 TO 5945 LEVELS ABOVE WHICH ONE MAY EXPECT NIFTY FUTURES TO RISE TOWARDS 5959 OR EVEN HIGHER LEVELS.

WITH THE COMING WEEK BEING THE EXPIRY WEEK AS WELL AS HE MONTH ENDING WEEK THAT TOO BEING A TRUNCATED ONE WITH WEDNESDAY 28TH NOV BEING A HOLIDAY, ONE SHOULD BE REASONABLE SURE THAT OPERATORS WILL HAVE NIFTY CLOSING BELOW THE EARLIER MENTIONED LEVEL OF 5700 TO HAVE SUFFICIENT UP SIDE SPACE FOR NIFTY TO MOVE UP DURING THE MONTH OF DECEMBER. SO, EVERY DECLINE MAY BE BOLDLY BOUGHT INTO AND BOLDLY HELD FOR GREAT GAINS IN THE NEAR FUTURE. THE INDICATORS IN THE DAILY CHARTS ARE HIGHLY OVERSOLD THAT SUGGEST UP SIDE TO MUCH HIGHER LEVELS AFTER THE OPERATOR ACHIEVE THEIR NOV EXPIRY TARGET OF SUB 5700. TRADERS & INVESTORS MAY KEEP A CLOSE WATCH ON THE FUTURE LEVEL OF 5665 TO 5670 . THE CANDLE OF 15TH & 16TH NOV HAD FORMED A RED HAMMER & AN OUT SIDE WRB WITH THE 16TH NOV MOTHER CANDLE

FOR FRIDAY’S TRADING PURPOSE ONE MAY SEE THURSDAY’S HIGH OF 5657 BEING BREACHED BUT IT WILL BE TOUGH TO BREACH THE CRITICAL LEVEL OF 5665. HOWEVER SHOULD NIFTY FUTURE MANAGE TO DECISIVELY BREACH 5665, MEANING IF IT HAS A 30 OR 15 MINUTE CANDLE CLOSING ABOVE IT, THEN ONE WILL SEE SOLID SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS 5700 LEVELS. IT CAN BE ON ANY DAY IF NIFTY FUTURES DECISIVELY CLOSES ABOVE 5665. SIMILARLY ON THE LOWER SIDE IN CASE NIFTY FUTURE DOES NO HOLD MONDAY 20TH NOV HIGH OF 5616 & SUSTAINS BELOW IT, THEN HERE IS EVERY POSSIBILITY OF NIFTY FUTURE SLIDING MORE & MORE THROUGH OPERATORS’ ACTION TO CONTEST LAST WEEK 17TH NOV FRIDAY’S CLOSING OF 5580 FUTURE LEVELS. THE RISE OF INDIAN MARKETS FOR 2 CONSECUTIVES DAYS MUST HAVE ANGERED

NIFTY FUTURE AFTER 6 CONSECUTIVE DAYS OF NEGATIVE CLOSINGS, BROUGHT A SIGH OF RELIEF BY GOING +VE ON WEDNESDAY, THANKS TO THE ADVANCE ACTION BY THE BULLS ONE DAY AHEAD OF THE THANKS GIVING HOLIDAY IN U.S.. IT IS INTERESTING TO NOTE THAT ON NON OF THESE 6 NEGATIVE DAYS NIFTY CLOSED BELOW THE CONFLUENCE OF THE SUPPORT LINES ALTHOUGH IT HAD BREACHED THE SUPPORT LINES ON INTRADAY BASIS TO TRIGGER STOP LOSSES OF WEAKER HANDS. ALTHOUGH, AS LONG AS NIFTY FUTURE REMAINS BELOW THE MAGIC LEVEL OF 5665, IT WILL CONTINUE TO BE UNDER THE CONTROL OF BEARS, YET THE MAGIC LOW MADE BY NIFTY FUTURES ON TUESDAY 20TH NOV AT 5555.55 MAY REMAIN A SYMBOLIC

FOR INTRADAY TRADING ON WEDNESDAY AS LONG AS NIFTY FUTURES SUSTAINS BELOW TUESDAY’S HIGH OF 5616, BOLD & RUTHLESS SHORTING MAY BE DONE ON EVERY RISE OF NIFTY FUTURES TOWARDS 5616 BY HAVING A REASONABLE STOP LOSS ABOVE 5636 FUTURE LEVELS TO REVERSE FOR GOING LONG. INITIAL RESISTANCE MAY BE EXPECTED AROUND 5599 FOLLOWED BY 5608 ABOVE WHICH NIFTY FUTURES MAY MOVE UP TOWARDS 5625 FOLLOWED BY 5636 THAT MAY ENCOUNTER BARRAGE OF SHORTS IN CASE NIFTY FUTURE MOVES UP BY FLUKE TOWARDS 5636.

SIMILARLY ON THE LOWER SIDE ONE MUST BE PREPARED TO SHORT BOLDLY IN CASE NIFTY FUTURE FAILS TO SUSTAIN ABOVE 5616 TO 5626 OR EVEN FAILS TO APPROACH 5616 TO SEE LOWER LEVELS OF 5566, 5555 AND 5544 THAT MAY SEE BULLS COMING BACK TO GO LONG BY HAVING A STOP LOSS BELOW 5530 FUTURE LEVELS. ALL TRADERS AND INVESTORS MUST KEEP IN MIND THAT THE PRESENT RANGE BOUND & TIGHT MOVE OF THE MARKET IS A FULL SCALE MANIPULATION BY EXTERNAL OPERATORS & MARKETS WILL BE KEPT SUPPRESSED TILL THE NOVEMBER MONTH EXPIRY IS OVER. MEDIUM TO LONG TERM INVESTORS MAKE FULL USE OF THIS MANIPULATORS ACTION TO QUIETLY ADD TO THEIR LONG POSITIONS FOR GREAT GAINS IN THE MEDIUM TO LONG TERM. MOST LIKELY EITHER A BOOM HAS BEEN MADE ON TUESDAY 20 NOV OR WE ARE VERY NEAR TO A BOTTOM.

FOR TUESDAY 20 NOV, ONE MUST EXPECT A BIG GAP UP OPENING IN CASE DOW WHICH IS AROUND 150 POINTS UP NOW AT 9 P.M. IST, DOES NOT CHANGE TO AS USUAL LOWER GEAR AFTER THE CLOSURE OF EUROPEAN MARKETS IN HIGHLY BULLISH CONDITION. NIFTY FUTURES MAY FIND INITIAL RESISTANCE AROUND 5630, SUSTAINING ABOVE WHICH MAY SEE NIFTY FUTURES MOVING UP TOWARDS 5640 TO 5645, ABOVE WHICH ANOTHER BOUT OF SHORT COVERING MAY SEE NIFTY FUTURE RISING TO EYE FOR FRIDAY’S HIGH OF 5665. A FAILURE TO BREACH AND MORE IMPORTANTLY SUSTAIN ABOVE ANY OF THESE LEVEL MAY SEE RUTHLESS SHORTING THAT WILL FORCE BULLS TO BE SHUNTED OUT TOWARDS SUB 5600 LEVELS AGAIN.

SIMILARLY ON THE LOWER SIDE FAILURE TO BREACH 5625 INITIALLY OR 5645 LATER, MAY SEE NIFTY FUTURES FALLING TO LOWER LEVELS OF 5600 , 5586 OR EVEN 5577 OR EVEN 5566, THAT MAY SEE BULLS COMING BACK WITH FULL VIGOR FROM THESE LOWER LEVELS TO PUSH THE BEARS AWAY. IT IS WISER TO WAIT FOR A DECLINE TO TAKE A BUY TRADE FOR GOOD GAINS. SIMILARLY MEDIUM TO LONG TERM INVESTORS SHOULD BUY THE DECLINES FOR VERY GOOD GAINS IN THE MEDIUM TO LONG TERM AS THE LIKELY TARGETS FOR END OF THE YEAR MAY BE 6000 NIFTY LEVELS.

FOR INTRADAY TRADING ON MONDAY, ONE SHOULD EXPECT A GOOD RETRACEMENT BOUNCE AND AN INITIAL FLAT OR WEAK OPENING MAY BE BOUGHT FOR GOOD INTRADAY GAINS. 5603 FOLLOWED BY 5636 ARE THE CRITICAL FUTURE LEVELS BREACH OF WHICH MAY SEE GOOD SHORT COVERING AT EACH STAGE. HOWEVER A FAILURE ON THE PART OF BULLS TO LIFT NIFTY FUTURES ABOVE THESE LEVELS OR EVEN ABOVE 5600 FUTURE LEVELS CAN BE RUTHLESSLY SHORTED BY HAVING REASONABLE STOP LOSS ABOVE THESE LEVELS FOR GOOD GAINS ON THE DOWN SIDE. IN CASE OF A FLAT TO MILDER OPENING BELOW 5586, SHOULD NIFTY FUTURE MANAGE TO BREACH AND SUSTAIN ABOVE 5600 THEN ONE MAY GO LONG FOR QUICK GAINS TOWARDS 5612 OR EVEN 5624 OR EVEN HIGHER FUTURE LEVELS.

SIMILARLY ON THE LOWER SIDE, A FAILURE TO BREACH AND SUSTAIN ABOVE 5600 FUTURE LEVELS MAY SEE NIFTY SLIDING TOWARDS FRIDAY’S LOWS OF 5570 SUSTAINING BELOW WHICH 5555 FOLLOWED BY 5544 FUTURE LEVELS ARE A CERTAINTY TO THREATEN 5530 TO 5525 FUTURE LEVELS TO SEE THE BALANCE OF THE CASTRATED BULLS TURNING AS BEARS TO SEE NIFTY SLIDING TOWARDS MUCH LOWER LEVELS IN NEXT FEW DAYS AS CAN BE SEEN IN THE CHART ABOVE. THE PRESENT SLIDE IN NOVEMBER MONTH IS THE RETRACEMENT TO THE BIG RISE FROM 6TH SEPTEMBER LOWS & THESE OPERATOR DRIVEN MOVEMENTS IN NO WAY HAMPER THE LONG TERM MEGA BULLISHNESS OF INDIAN MARKETS & BUYING THE DECLINES FOR GOOD MEDIUM TO LONG TERM GAINS SHOULD BE THE MOTTO OF INVESTORS.

NIFTY FUTURE SO FAR HAD 4 CONSECUTIVE DAYS OF LOWER CLOSINGS AND 5 CONSECUTIVE DAYS OF LOWER LOWS AS CAN BE SEEN IN THE DAILY EOD CHART OF NIFTY FUTURE ABOVE. THE HAMMER FORMED WITH ITS LOWS AT THE LOWER BOLLINGER BAND AS WELL AS AT THE 50 DAY EMA BRINGS HOPE FOR THE BULLS FOR SOME RETRACEMENT BOUNCE. LAST WEEK ENDING 9TH NOV, NIFTY FUTURE HAD CLOSED AT 5720 WITH A WEEKLY LOW OF 5702. SO THERE IS A REASONABLE CHANCE OF A BOUNCE EITHER ON FRIDAY OR EARLY NEXT WEEK.

FOR FRIDAY’S INTRA DAY TRADING PURPOSE, NIFTY FUTURE MAY FIND INITIAL SUPPORT AROUND 5630 FOLLOWED BY THURSDAY’S LOWS OF 5620 SUSTAINING BELOW WHICH MAY SEE NIFTY FUTURE SLIDING TOWARDS 5605 OR EVEN 5600 LEVELS FROM WHERE GOOD BOUNCE MAY BE EXPECTED. SIMILARLY ON THE HIGHER SIDE ONE MAY EXPECT INITIAL RESISTANCE TO COME AROUND 5663 FOLLOWED BY 5673 TO 5677 SUSTAINING ABOVE WHICH MAY SEE NIFTY FUTURE MOVING UP TOWARDS 5688 TO THREATEN 5700 LEVELS. LONG TO MEDIUM TERM INVESTORS SHOULD BUY THE DECLINES FOR GREAT GAINS IN NEAR FUTURE

FOR THURSDAY’S INTRADAY TRADING PURPOSE, SPOT NIFTY FINDS INITIAL SUPPORT AROUND THE DIWALI DAY LOWS OF 5660 BELOW WHICH 5656 MAY PROVIDE THE REAL SUPPORT. FAILING TO SUSTAIN ABOVE THIS CRITICAL LEVEL OF 5656 MAY SEE SPOT NIFTY SLIDING TOWARDS 5645 FOLLOWED BY 5635 TO 5630 AND THEN TOWARDS 5620 SPOT LEVELS THAT MAY SEE THE BULLS CHARGING IN FROM ALL DIRECTIONS TO SHUNT THE BEARS OUT OF SIGHT.

SIMILARLY ON THE HIGHER SIDE IN CASE BULLS MANAGE TO PUSH NIFTY UP TOWARDS THE INITIAL RESISTANCE OF 5677 AND SUSTAIN ABOVE IT THEN ONE MAY NOTICE THE INITIAL BOUT OF SHORT COVERING BY THE WEAK BEARS TO PUSH NIFTY SPOT TOWARDS 5687 TO 5697 SUSTAINING ABOVE WHICH WILL TRIGGER MASSIVE SHORT COVERING TO PROPEL NIFTY TOWARDS 5707 INITIALLY AND IF BULLS ARE ADAMANT THEN EVEN HIGHER LEVELS OF 5717 TO 5722 MAY BE TESTED TO SEE NIFTY SPOT CATAPULTED OUT OF THE UPPER CHANNEL FOR MUCH HIGHER LEVELS. DOW WILL BE FORCED BY ITS OPERATORS TO REMAIN WEAK TO INDUCE NEGATIVE SENTIMENT FOR THE ASIAN MARKETS WHICH SHOULD BE MADE FULL USE OF TO BUY FOR GREAT GAINS IN THE MEDIUM TO LONG RUN.

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FOR INTRADAY TRADING ON MONDAY, THE LOWER CHANNEL SHOULD PROVIDE SUPPORT TO NIFTY AND THE +VE DIVERGENCE IN MACD HISTOGRAM INDICATES THAT THE UPWARD REVERSAL IS NOT VERY FAR OFF FROM THE PRESENT LEVELS. EVEN THOUGH THE HIGH PREMIUM ENJOYED BY NIFTY FUTURES AT 5722 COMPARED TO THE SPOT LEVEL OF 5686 LOOKS ALARMING, YET THIS CONTINUES TO GENERATE CONFIDENCE IN THE MINDS OF THE BULLS WHO ARE HOPING FOR AT LEAST THE RETEST OF OCTOBER MONTH HIGHS OF 5873 FUTURE LEVELS OR 5815 SPOT NIFTY LEVELS, WITHOUT KNOWING THE POWER OF THE VENOM INJECTED BY THE DOW OPERATORS INTO INDIAN MARKETS.

ON MONDAY NIFTY FUTURES WHICH HAD CLOSED AT 5725 LEVELS ON FRIDAY, MAY OPEN FLAT OR MILDLY UP TO INCH UP A LITTLE MORE TOWARDS THE CRITICAL LEVEL OF 5742 TO 5744 WHICH WAS THE LOW OF THURSDAY 8TH NOV. SUSTAINING ABOVE 5744 WILL TRIGGER INITIAL BOUT OF SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS THE NEXT CRITICAL LEVEL OF 5751 TO 5757 ZONE, ABOVE WHICH ONE MAY EXPECT MASSIVE SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS NEXT HIGHER LEVELS OF 5767 TO EYE FOR FRIDAYS HIGHS OF 5782.

SIMILARLY ON THE LOWER SIDE FRIDAYS LOWS OF NIFTY FUTURES AROUND 5707 TO 5702 CONTINUES TO BE A STRONG SUPPORT ZONE, A DECISIVE BREACH OF WHICH MAY SEE NIFTY FUTURE SLIDING TOWARDS 5696 TO 5692 ZONE, SUSTAINING BELOW WHICH WILL ATTRACT EVEN THE HARD CORE BULLS TO SHORT THE MARKETS FOR VERY QUICK GAINS TOWARDS THE DOWN SIDE LEVELS OF 5682 TO 5670 FUTURE ZONE THAT MAY ATTRACT THE CASTRATED BULLS TO RETURN TO BUYING BUT ONLY TO SEE NIFTY FUTURE MOVING UP BY 10 TO 20 POINTS AT THE MOST TO ADD SALT TO THE WOUNDS OF THE BATTERED BULLS.

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FOR THURSDAY’S INTRADAY TRADING, EXPECT A GAP DOWN OPEN INDUCED BY DOW OPERATORS WHO WILL ENSURE THAT ASIAN MARKETS FALL SO THAT THESE OPERATORS CAN BUY ASIAN MARKETS ON DECLINES. THIS WEAKNESS IN ASIAN MARKETS WILL HAVE A NEGATIVE IMPACT ON INDIAN MARKETS TO OPEN GAP DOWN TO BE FOLLOWED BY A BIG RISE. NIFTY FUTURES FINDS INITIAL SUPPORT AROUND 5784 TO 5774 BELOW WHICH IT CAN SLIDE TOWARDS THE SUPPORT LINE AROUND 5760 AS CAN BE SEEN IN THE INTRADAY CHART.

MOST LIKELY NIFTY FUTURES SHOULD BOUNCE UP FROM 5760 LEVELS. HOWEVER A FAILURE TO SUSTAIN ABOVE 5760 MAY SEE FURTHER FALLS AS WEAKER HANDS WOULD PREFER TO QUIT THEIR LONGS TO ALLOW EXTERNAL OPERATORS TO BUY. BELOW 5760 FUTURE LEVELS, NIFTY FUTURE MAY SLIDE TOWARDS 5744 FOLLOWED BY 5733 WITH VERY LOW VOLUME THAT WILL ENCOURAGE ONE TO BOLDLY BUY FROM HERE. AS LONG AS FUTURE LEVEL OF 5711 TO 5700 IS HELD BY THE BULLS, THIS DOW OPERATOR INDUCED FALL IS A VERY GOOD BUYING OPPORTUNITY.

THE OUTCOME OF THE PRESIDENTIAL ELECTION IN U.S. WILL PLAY A MAJOR ROLE FOR THE MOVEMENT OF MARKETS ON WEDNESDAY 7TH NOV. ALTHOUGH TECHNICALS INDICATE A SHARP UP MOVE , YET IT IS WISER TO WAIT FOR THE RESULTS TO BE OUT TO ENTER THE MARKETS. TILL THE RESULT IS OUT IT IS WISER TO BUY 5700 CALLS ON MARKET DECLINES AND HOLD THESE FOR GOOD GAINS WITH A REASONABLE STOP LOSS. MOST LIKELY FRIDAY 2ND NOV GAP LOW OF 5709 NIFTY FUTURE LEVELS SHOULD HOLD BELOW WHICH ONE CAN PLACE THE STOP LOSS AND BUY THE INTRADAY DECLINES.

DURING THE MONTH OF OCTOBER, NIFTY FUTURE HAD MADE A LOW OF 5613 WHICH INTERESTINGLY WAS MADE OUT OF COMPULSION ON THE LAST TRADING DAY OF OCTOBER ON 31ST OCTOBER. OCTOBER MONTH HIGH OF 5855 WAS MADE DURING THE FIRST WEEK OF OCTOBER ON 5TH OCTOBER. SEEING THE TECHNICALS AND THE WAY EVERY INTRADAY DECLINE IS BOUGHT INTO, THERE IS EVERY POSSIBILITY OF NIFTY FUTURES SHOOTING UP TO BREACH OCTOBER MONTH HIGH OF 5855 IRRESPECTIVE OF WHOEVER IS ELECTED AS THE NEXT PRESIDENT OF U.S.

FOR INTRADAY TRADING ON WEDNESDAY, TRADERS MAY USE THE SHARP VOLATILITY TO GO LONG AND ADD MORE LONGS ON INTRADAY DECLINES AS LONG AS NIFTY FUTURES SUSTAINS ABOVE 5700. NIFTY FUTURES MAY BE MADE TO OPEN AROUND 5788 TO 5790 SUSTAINING ABOVE WHICH MAY SEE SHARP UP MOVE TOWARDS 5808 FOLLOWED BY 5822. SUSTAINING ABOVE 5822 CAN SEE 5835 FUTURE LEVELS TO BE AT STRIKING DISTANCE FROM OCTOBER MONTH HIGH OF 5855 WHICH SHOULD BE CROSSED SHORTLY THIS WEEK. HOWEVER, AFTER THE OPENING GAP UP, IN CASE NIFTY FUTURE FALLS AND SUSTAINS BELOW 5755 THEN IT WILL TURN WEAK TO WEED OUT THE WEAKER HANDS BEFORE SHOOTING UP AGAIN. IT IS WISER TO WAIT FOR INTRADAY DECLINES (IF AT ALL IT COMES) TO GO LONG FOR GOOD GAINS IN NEAR TERM WITH A WIDER STOP LOSS BELOW THE FUTURE LEVELS OF 5700.

SO, FOR THE COMING WEEK BATTLE LINES ARE DRAWN BETWEEN THE BULLS AND THE BEARS WITHIN THE SPOT NIFTY ZONE OF 5722 AND FUTURE ZONE OF 5757 ON THE HIGHER SIDE AND 5633 SPOT & 5636 FUTURE ON THE LOWER SIDE. A BREACH OF NIFTY ON THE LOWER SIDE CAN BE BOLDLY SHORTED FOR MUCH LOWER LEVELS AS IN THAT CASE NIFTY MAY FALL TO TAKE SUPPORT ON THE MAJOR SUPPORT LINE COMING FROM THE LOWS OF 4TH JUNE AS CAN BE SEEN IN THE CHART ABOVE. DURING MONTH OF SEPTEMBER, SPOT NIFTY HAD MADE A LOW OF 5215 AND A HIGH OF 5735. DURING THIS MONTH OF OCTOBER NIFTY SPOT HAS ALREADY BREACHED SEPTEMBER MONTH HIGH OF 5735 TO MOVE UP TILL 5815. HENCE THERE IS EVERY POSSIBILITY THAT OPERATORS WILL PULL NIFTY FURTHER DOWN DURING THE REST OF OCTOBER TO COMPENSATE A LITTLE MORE OF THE NIFTY LEVELS FROM THE LOWS OF SEPTEMBER SO THAT THE OPERATORS CAN WEED OUT WEAKER HANDS AND TAKE SUITABLE LONG POSITIONS FOR THE NOVEMBER MONTH.

SO, BOLDLY SHORT & ONLY SHORT IN CASE SPOT NIFTY SLIPS & MORE IMPORTANTLY SUSTAINS BELOW 5633 AND BOLDLY GO LONG IF BY CHANCE DURING THE REMAINING DAYS OF OCTOBER MONTH NIFTY SPOT MANAGES TO BREACH 5723 TO SUSTAIN ABOVE IT. THE WEEKLY PERFECT DOJI & 7TH NRB MADE BY NIFTY WITH LOW OF 5633 AND HIGH OF 5723 WILL PLAY A MAJOR ROLE IN DECIDING WHICH WAY NIFTY SPOT WILL MOVE BASED ON THE BREACH & MORE IMPORTANTLY SUSTAINING ABOVE 5723 FOR THE UP SIDE OF 5633 FOR THE DOWN SIDE. WITH THE TRUNCATED WEEK COMING , THERE IS MORE LIKELY-HOOD OF A REPEAT OF RANGE BOUND CONDITION OF LAST WEEK WITH A NEGATIVE BIAS. WITH DOW OPERATORS PLAYING MERRY HELL WITH THE REST OF WORLD MARKETS BY SUITABLY MANIPULATING DOW & ITS FUTURES, THE CHANCES OF A DOWN SIDE BREACH IS MORE LIKELY TO WEED OUT WEAKER HANDS BEFORE THE MEGA BULL RUN RESUMES.

AS CAN BE SEEN IN THE DAILY CHART NIFTY HAS INITIAL SUPPORT AROUND THE FIRST CHANNEL LOWS OF AROUND 5636 TO 5630. THE BREACH OF THIS INITIAL CHANNEL LOWS CAN SEE NIFTY FALLING LIKE A STONE TOWARDS THE LOWER CHANNEL LOWS AROUND 5500 TO 5475 SPOT LEVELS AFTER SOME DELAY AROUND THE 50 DAY EMA AROUND 5530 SPOT. PRESENTLY 20 DAY EMA AROUND 5656 SPOT LOOKS PERFORATED TO ALLOW THE BEARS TO PIERCE THROUGH IT AND IF THE BULLS ARE DETERMINED NOT TO GIVE AN INCH BELOW 5630 SPOT LEVELS THEN THE BULLS CAN PUSH BACK THE BEARS THROUGH THE SAME PERFORATED 20 DAY EMA TO MOVE UP TOWARDS 5722 SPOT AGAIN TO MARCH UP TOWARDS THE OCTOBER HIGHS OF 5815 SPOT.

THE INDICATORS IN THE DAILY CHARTS LOOK OVERSOLD AND POSSIBILITY OF A GOOD BOUNCE MAY BE THERE AFTER THE DOW OPERATOR INDUCED GAP DOWN ON MONDAY. WITH THE DAILY STOCHASTIC LOOKING OVERSOLD, SO ALSO THE SAME OSCILLATOR IN THE INTRADAY 30 MINUTE CHART, AN INITIAL DOW INDUCED SLIDE TOWARDS 5640 TO 5630 WILL ATTRACT HEAVY BUYING FOR GOOD INTRADAY GAINS. NIFTY FUTURES WHICH HAD CLOSED AT 5684 ON FRIDAY, MOST LIKELY WILL OPEN GAP DOWN INDUCED BY THE FRIDAY 19TH OCTOBER 200 POINT ORCHESTRATED FALL IN DOW. NIFTY FUTURE WILL OPEN GAP DOWN BELOW OR AROUND THE CRITICAL FUTURE LEVEL OF 5660 & HAS INITIAL INTRADAY SUPPORT AROUND 5644 FOLLOWED BY 5633 THAT MUST SEE A GOOD RETRACEMENT BOUNCE FROM HERE. HOWEVER SUSTAINING BELOW 5630 TO 5625 MAY SEE NIFTY FUTURES FALLING FURTHER TO THREATEN THE 5600 LEVELS.

SIMILARLY ON THE HIGHER SIDE IN CASE OF A GOOD PULL BACK BOUNCE AFTER THE DOW INDUCED GAP DOWN, IN CASE NIFTY FUTURES CAN MOVE UP AGAIN TO BREACH AND SUSTAIN ABOVE THE CRITICAL FUTURE ZONE OF 5700 TO 5706, THEN ONE WILL OBSERVE MASSIVE SHORT COVERING TO PROPEL NIFTY FUTURES TOWARDS 5715 TO 5720 SUSTAINING ABOVE WHICH WILL BRING THE SECOND BOUT OF SHORT COVERING TO SEE NIFTY FUTURES MOVING UP TOWARDS 5735 TO THREATEN THE CRITICAL 5750 FUTURE LEVELS. LONG TO MEDIUM TERM INVESTORS MUST MAKE FULL USE OF THE EXTERNAL OPERATORS’ MANIPULATED FALL IN NIFTY TO BUY GOOD & FUNDAMENTALLY STRONG STOCKS FOR GREAT GAINS AFTER THE RESUMPTION OF THE MEGA BULL RUN TOWARDS NEW LIFE TIME HIGHS.

NIFTY BEHAVED EXACTLY AS WAS ANTICIPATED AND THE MOMENT FUTURES LEVEL OF 5676 WAS DECISIVELY BREACHED, MASSIVE SHORT COVERING PROPELLED NIFTY TOWARDS THE NEXT CRITICAL ZONE OF 5696 ABOVE WHICH ANOTHER BOUT OF SHORT COVERING TOOK NIFTY FUTURES TOWARDS THE EXPECTED LEVEL OF 5740 . AS OF NOW IT LOOKS THE BOTTOM MADE BY SPOT NIFTY AROUND 5630 WILL HOLD AND FROM HERE ON NIFTY CAN INCH UP TOWARDS THE HIGHS OF 5800+ LEVELS, THANKS TO THE FORMATION OF BULLISH WOLFE WAVES IN 2 HOURLY, HOURLY, 30 & 15 MINUTE CHARTS OF NIFTY FUTURES, THAT HAS THE TARGET OF 5800+ LEVELS FOR NIFTY FUTURES AS CAN BE SEEN IN THE HOURLY CHART ABOVE. HOWEVER ONE

NIFTY AS EXPECTED COULD NOT SUSTAIN ABOVE THE GIVEN CRITICAL LEVEL OF 5680 SPOT & AFTER OPENING WITH A GAP UP HIGH OF 5684 TO TRIGGER SHORT COVERING & INDUCE BUYING INTEREST, NIFTY SPOT CONTINUOUSLY FELL TO MAKE A DAY LOW OF 5633 BELOW THE TUESDAY’S LOW OF 5636 SPOT TO AGAIN MOVE UP DURING THE LAST HALF HOUR TO A HIGH OF 5666 TO FINALLY CLOSE AROUND 5656 SPOT LEVELS. ALTHOUGH OPERATORS’ VENOM CONTINUES TO STAY WITH THE MARKETS TO SEE FURTHER LOWER LEVELS THIS WEEK YET TECHNICALLY SPOT NIFTY SEEMS TO HAVE MADE A BOTTOM AROUND THE 5630 LEVELS .

WITH THE FORMATION OF PROMINENT WOLFE WAVES IN THE 60,30,15 & 5 MINUTE CHARTS, IT IS QUITE POSSIBLE THAT NIFTY MAY SWING UP FROM THE CURRENT LOWS

WELL, THE MARKETS ARE MOVING EXACTLY AS PER PREDICTIONS IN THE WEEKLY ANALYSIS BELOW WHERE IT WAS MENTIONED NIFTY WILL BE BROUGHT DOWN TILL 5636 SPOT LEVELS & ON TUESDAY 16TH OCTOBER NIFTY SPOT WAS BROUGHT DOWN TILL 5635.80 TO BOUNCE FROM THERE. NIFTY FUTURES WHOSE PREMIUM WAS HIGHER EARLIER TO TUESDAY ALMOST LOST ALL ITS PREMIUM AND TESTED 5638 VERY NEAR TO EARLIER GIVEN SPOT NIFTY LEVEL OF 5636. REMEMBER THIS MARKET IS ENTIRELY DRIVEN BY BOTH INTERNAL & EXTERNAL OPERATORS SPECIALLY DOW OPERATORS FROM U.S.. ON TUESDAY ALSO ONE WILL FIND DOW WHICH IS NEARLY 120 POINTS

AS EXPECTED NIFTY FUTURES COULD NOT CROSS THE CRITICAL 5720 TO 5725 LEVELS THAT SAW EVERY NOVICE TRADER EVEN INDULGING IN SHORTING THE MARKETS. NOW FOR TUESDAY IN CASE NIFTY FUTURE FAILS TO BREACH THE MAGIC LEVEL OF 5717 THEN SIMILAR MULTI BARREL SHORTING MAY BE DONE TO SEE BULLS BEING SHUNTED DOWN TOWARDS 5670 TO 5660 AND IN CASE NIFTY FUTURES FAILS TO HOLD 5656 MAGIC LEVELS THEN THE 2ND BOUT OF CARGO SHORTINGS BE INITIATED TO SEE MUCH LOWER LEVELS. HOWEVER IN CASE NIFTY FUTURES MANAGES TO BREACH THE MAGIC LEVEL OF 5717(OTHER THAN THE DECEPTIVE GAP UP LIKELY TO BE INITIATED

THE WEEK ENDING 12TH OCTOBER HAD A NEGATIVE CLOSING FOR NIFTY ON A WEEK ON WEEK BASIS. COMPARED TO THE PREVIOUS TRUNCATED WEEK ENDING 5TH OCTOBER WHEN NIFTY SPOT HAD CLOSED AT 5747, THE WEEK ENDING 12TH OCTOBER SAW NIFTY SPOT CLOSING AT 5676. THERE WAS ALSO A LOWER HIGH THIS WEEK WITH NIFTY SPOT MAKING A HIGH OF 5752 SPOT COMPARED TO ITS PREVIOUS WEEKS HIGH OF 5815 SPOT. BESIDES SPOT NIFTY HAVING CONFUSED THE ISSUE WITH THE 5TH OCTOBER MANIPULATED LOW OF 4888 SPOT, INTERESTINGLY NIFTY FUTURE MADE A LOWER LOW THIS WEEK AT 5676 COMPARED TO ITS PREVIOUS WEEK’S LOW OF 5718. ALTHOUGH THIS WEEK NIFTY HAS CLOSED NEGATIVE FOR THE FIRST TIME AFTER 5 CONSECUTIVE WEEKS OF +VE CLOSINGS, YET WHAT IS MORE ALARMING IS THAT THIS

THE BIG RISE IN NIFTY EVEN AFTER DOW’S OVERNIGHT FALL OF MORE THAN 100 POINTS GENERATED THE ELEMENT OF SURPRISE AFTER NIFTY MADE AN INTRADAY LOW OF 5636 SPOT BELOW WEDNESDAYS LOWS OF 5646 SPOT. AS REGARDS NIFTY FUTURES, AFTER MAKING A DAY LOW OF 5656 THE FUTURES MOVED UP LIKE TRACER BULLET TOWARDS THE GIVEN STOP LOSS LEVEL OF 5710 ABOVE WHICH EVERY ONE REVERSED AND TURNED A BUYER AS WAS INDICATED YESTERDAY. THE RISE OF NIFTY FUTURES TO A DAY HIGH OF 5749, THE TWIN HIGH OF 9TH OCTOBER PUTS THE BULLS IN THE DRIVER’S SEAT TO MOVE UP FURTHER AFTER A MINOR PAUSE ON FRIDAY. HOWEVER IN CASE NIFTY FUTURES ON FRIDAY MOVES UP TO BREACH AND SUSTAIN

AS WAS WRITTEN FOR YESTERDAY, DOW WILL BE MADE TO FALL FOR NEXT FEW DAYS AND NEWS EVENTS THERE WILL BE SUITABLY MANIPULATED TO SUPPORT DOWS FALL TO ADVERSELY INFLUENCE REST OF THE WORLD MARKETS FOR NEXT FEW DAYS. ONE WILL ALSO OBSERVE THAT AFTER THE CLOSURE OF EUROPEAN MARKETS DOW WILL BE ORCHESTRATED TO FALL MORE. SO, CONTINUE HOLDING YOUR SHORTS BOLDLY AND ADD MORE SHORT POSITIONS ON EVERY INTRADAY RISE AS LONG AS NIFTY FUTURES FAILS TO SUSTAIN ABOVE THE CRITICAL LEVEL OF 5710 TO REVERSE FOR LONGS ONLY ABOVE NIFTY FUTURE LEVEL OF 5710.

FOR NEXT FEW DAYS, LEVELS ARE NOT IMPORTANT & THAT ONE MUST TRADE IN THE SHORT SIDE OF THE MARKET IS MORE IMPORTANT. DOW WILL BE MADE TO FALL FOR NEXT FEW DAYS, SO HOLDING SHORT POSITIONS WITH A STOP LOSS ABOVE 5710

AS WAS INDICATED EARLIER, THE ADVERSE EFFECT TOOK ITS TOLL ON WORLD MARKETS ON TUESDAY & DOW FELL BY 110 POINTS ON TUESDAY NIGHT THAT WILL SEE ITS WHIPPING ASIAN BOYS SHIVER ON THE MORNING OF WEDNESDAY. AFTER THE MAKING OF AN INSIDE DAY BY NIFTY ON TUESDAY FOLLOWING THE BEARISH ENGULFING OF NIFTY FUTURES ON FRIDAY, IT REMAINS HIGHLY VULNERABLE TO FURTHER FALLS AND A SLIDE BELOW TUESDAY’S LOWS OF 5677 SPOT OR MONDAY’S LOWS OF 5666 SPOT NIFTY LEVELS, WILL INVITE EVERY TOM, DICK & HARRY TO TURN OUT BEARISH AND INDULGE IN CARGO SHORTING TO DRIVE INDIAN MARKETS

SO, FINALLY THE PAUSE ARRIVED AS WAS PREDICTED EARLIER, AND MOST LIKELY THIS PAUSE MAY CONTINUE FOR SOME MORE SESSIONS.AS LONG AS THE BEARISH ENGULFING HIGH OF FRIDAY AROUND NIFTY SPOT LEVEL OF 5815 IS NOT BREACHED ON A CLOSING BASIS, SHORT ON RISE WILL FAVOR THE TRADERS ALTHOUGH SOME INDIVIDUAL STOCKS WILL SHOW GREAT UPWARD MOVEMENT DUE TO THIS PLANETARY AS WELL AS THIS TEMPORARILY BEARISH TECHNICAL SET UP OF NIFTY.

FOR INTRADAY OR SWING TRADING OF NIFTY FUTURES, AS LONG AS NIFTY FUTURES SUSTAINS BELOW THE CRITICAL LEVEL OF 5788, ONE SHOULD NOT HESITATE TO

THE TRUNCATED WEEK ENDING 5TH OCTOBER SAW NIFTY CLOSING AT 5746 COMPARED TO ITS PREVIOUS WEEKS CLOSING OF 5703. THE WEEK ALSO SAW A HIGHER WEEKLY HIGH AND HIGHER WEEKLY LOW FOR NIFTY FUTURES (JUST DO NOT BOTHER FOR WHAT HAD HAPPENED ON FRIDAY 5TH OCTOBER, WHEN NIFTY SPOT WAS PULLED DOWN TILL 4888 BY BIG OPERATORS IN CONNIVANCE WITH THE EXCHANGE AUTHORITIES SIMILAR TO WHAT HAD HAPPENED TO NIFTY EXACTLY FIBONACCI 5 YEARS BEFORE ON 17TH & 18TH OCTOBER 2007. BE ABSOLUTELY SURE THE MANIPULATIVE ACTION OF FRIDAY WAS JUST A TESTER ROUND BEFORE THE ACTUAL BARRAGE IS TO BE FIRED & MORE OF SUCH MARKET MANIPULATION WILL

NIFTY CONTINUED WITH ITS UP MOVE AND AFTER OPENING GAP UP AROUND SPOT 5750, IT MOVED UP TO A DAY HIGH OF 5808 TO CLOSE AROUND 5787 MUCH ABOVE THE 8TH JULY 2011 HIGH OF 5740. THE BREACH OF TWIN 7TH NRBS HIGHS OF MONDAY AND WEDNESDAY PLAYED THE TRICK AND MASSIVE SHORT COVERING CATAPULTED NIFTY SPOT ABOVE THE 5800 LEVELS. NOW THE NEXT TARGET FOR SPOT NIFTY CAN BE AROUND THE 6TH APRIL 2011 HIGH OF 5944 WHICH IS THE TARGET OF THE INVERTED HEAD & SOLDER FORMATION AS WAS DEPICTED DURING EARLY SEPTEMBER. WHENEVER THE MARKETS MOVE UP THE CONTRARIAN FEELING OF CORRECTION ALWAYS COMES TO THE MIND AND TRADERS GET INTO SHORTING MODE TO BE TRAPPED AGAIN AND AGAIN.

SO, IT IS WISER TO HOLD THE LONGS AND ADD MORE LONGS ON DECLINES. AS LONG AS SPOT NIFTY DOES NOT CLOSE BELOW 27TH SEPTEMBER LOW OF 5640, NIFTY WILL MOVE UP & UP ONLY IRRESPECTIVE OF THE CONDITION OF ASIAN MARKETS OR THE HIGHLY OPERATOR INFECTED SGX NIFTY. SAFE TRADERS

Chart Reading Tips:

When 10 minutes EMA is above 34 minutes EMA it is an uptrend. Vice versa for a downtrend. When EMAs are conflicting it denotes a sideways market. 200 minutes MA slope denotes the longer term trend. If 200 minutes MA is rising, long term trend is up, vice versa for a down-trend. Keep Stoploss below recent swing low or keep Stoploss of Parabolic- SAR dots. Positive EMA crossover confirms the entries. Exit when RSI becomes overbought or use trailing Stoploss.

NIFTY CONTINUED WITH ITS UPWARD MOVE WITH ANOTHER HIGHER HIGH, HIGHER LOW AND A HIGHER CLOSING. INTERESTINGLY WEDNESDAY’S PRICE ACTION WAS ANOTHER 7TH NRB WITH JUST 28 POINTS SIMILAR TO MONDAY’S NARROW RANGE OF 29 POINTS AND AS LONG AS HIGHER HIGHS ARE MADE WITHOUT CLOSING BELOW THE LOW OF THE LAST BUT ONE DAY, THE UP MOVE IS LIKELY TO CONTINUE. SO AS LONG AS SPOT NIFTY IS NOT PULLED DOWN TO CLOSE BELOW THE MONDAYS LOWS OF 5694 SPOT, ONE MAY CONTINUE TO HOLD LONGS AND ADD MORE LONGS ON EVERY DECLINE BY HAVING THE STOP LOSS POINT BELOW MONDAYS LOWS OF SPOT 5694.

NIFTY SPOT HAD CLOSED AROUND 5719 ON MONDAY WITH A HIGH OF 5723 AND LOW OF 5694. WHAT IS MORE IMPORTANT FOR MONDAY’S LEVELS IS THAT NOT ONLY NIFTY HAS CLOSED AROUND THE HIGHEST POINT OF THE DAY AFTER THE INITIAL WEAKNESS DURING THE DAY BUT HAS FORMED A VERY NARROW RANGING BAR FOR ONLY 29 POINTS WHICH IS A 7TH NRB. THIS CRITICAL 7TH NRB HAS ALL THE POWERS IN IT TO SEE SPOT NIFTY SHOOTING UP LIKE A MISSILE IN CASE THE OPENING ON WEDNESDAY IS ABOVE 5735 SPOT NIFTY LEVELS THAT WILL CONFIRM A GOOD 123 UP TOWARDS 5800 LEVELS DURING THIS WEEK. HOWEVER A FAILURE ON THE PART OF

Basics of Stock Market

What is a stock ?

A stock is a partial ownership in a company or an industry, with rights to share in its profits. When an investor buys a stock of a company, he is called a shareholder or a stockholder of that company. The benefit of buying a share is that when the company profits, the shareholders also profit. The company distributes the profit among its shareholders, which is called the ‘dividend‘.

How do you make profits with stocks ?

But many traders make real profit in stocks using the market price of the stocks. Stocks are traded in the stock markets. The face value is the nominal value of the stock that is determined by the issuer of the stock. ‘Market price‘ of a stock is the price at which currently a stock is traded in the market. This price may be at premium or lesser than the ‘face value’ of the stock, depending on the company’s performance and prospects, investors’ interests in the company and a lot of other factors.

Market price of a stock keeps varying as traders trade the stock in the market. Traders often make money using these variations in the market price of the stock. Stocks are bought at lower market prices and sold at higher prices later. This is referred to as ‘long‘ positions in market terms. Similarly stocks can be sold at a higher market price and bought at a lower price later. Thiis is referred to as ‘short‘ positions in market terms. In these cases, the difference in the market prices at the time of buying and selling will be seen as profit by the traders.

What is the Stock Market ?

Basically it is an exchange place or a market that facilitates the trading of stocks. People participating in the stock markets range from some casual traders and investors who trade as a hobby, to large fund traders.

In India the most famous exchanges or markets are the Bombay Stock Exchange(BSE) and the National Stock Exchange (NSE). Globally there are many markets including the famous New York Stock (NYSE), NASDAQ, London Stock Exchange, Hong Kong Stock Exchange etc..

Any market can be thought of with two functionalities:

Primary Market: Here the companies and industries raise long term funds for their operations by issuing shares. Companies come up with an initial price, mostly with premium for the face value of the shares, which will be distributed to the investors. This is called the Initial Public Offer or the IPO.

Secondary Market : After a Company has finished its IPO, it is listed in the markets. After getting listed and issued shares to investors, the shares can then be sold to other investors in the stockmarket. Here the people can buy the shares at a current price as determined by other investors in the market.

What is the Demat Account ?

Like opening a bank account for doing your personal financial transactions, you have to open a Demat account to trade in the stock market. Demat account refers to Dematerialized account. This account helps you to buy and sell stocks without the need for physical paper shares.

A Demat Account is a must for trading the stocks these days. To open a demat account, you should select a Depository Participant (DP). These days most of the banks are also DPs. So you can contact any of the DPs with your identity, address proof and PAN documents for opening a demat account for a prescribed fee by the DP. The registered DPs are also listed in NSDL (http://www.nsdl.co.in/) and CDSL (http://www.cdslindia.com/) websites.

Who is the Stock Broker ?

Stock Brokers are members of the Stock Exchanges. Only these members can conduct transactions in the exchange on behalf of the individuals and companies. So if you want to buy or sell shares in the exchange, you have to contact a stock broker for doing so. This normally requires the individuals to open an account with the Stock Broker. So the individual becomes a client for the stock broker.

Once the client wishes to buy a stock, the broker would place the order in the stock exchange on behalf of the client. When the transaction is done, the broker places the price to the client. The client pays for the stocks he bought and the broker transfers the stocks into the demat account of the client by following the transaction and settlement procedures.

Essentials of Trading - Share Market Tutorial

Basics of Stock Trading

Where can I trade Stocks ?

Stocks are traded in the Stock Market or the Stock Exchange. In India, the two most popular exchanges are the Bombay Stock Exchange (BSE - Located in Mumbai) and the National Stock Exchange (NSE - Located in New Delhi).

Do I have to be physically present in the stock market to trade stocks ?

Not necessarily. You do not have to be physically present in the stock market to start trading. For trading in stocks, you can open an account with a Stock Broker, who is a registered member of the BSE or the NSE. Once you have opened the account, you can start trading in the stocks through your local Stock Broker. The Broker charges a fee called the Brokerage or Commission from you for every trade that you do in the stock market.

What is Online Trading ?

Online Trading is a fairly new and popular mechanism for trading Stocks, wherein the you can buy and sell the stocks over the Internet. With the flexibility that Online trading offers to the clients, this mechanism of trading has become hugely popular among the investors and traders in the recent times.

When you buy or sell stocks online, you will be interacting with an Online Stock Broker, in contrast to the Human Broker in the conventional trading system. The Online system places the orders on your behalf, gets them executed in the exchange and inform the order status to the clients. Like the older system of trading, a fee is charged as Brokerage or Commission for every trade executed using the Online system.

What other services are offered in Online Trading ?

Apart from providing a platform for trading stocks, many Online systems provide integrated packages that link your Trading account with your Bank Account.
This helps you to buy and sell stocks and get the money transferred to your Bank account in a hassle free manner.

Apart from this, many Online Systems also offer Stock Research and Tips from Market Analysts to the clients, over the Trading Platform. This will help you to choose and value your trade calls in the Stock Market.

Basics of Online Trading

How do I Buy / Sell Stocks with my Online Account ?

Buying or Selling stocks is done by placing ‘Orders‘. You can place a ‘Buy Order‘ to buy the stocks at a particular price. Similarly to sell a stock at a particular price, you have to place a ‘Sell Order‘.

Each Online platform has different ways to place these orders. But generally, all of these provide the following basic options when placing an order:

1. Option to choose whether you wish to Buy or Sell a particular stock

2. The name / symbol of the particular stock which you want to either Buy or Sell

3. The Number of stocks (Quantity) that you want to either Buy or Sell

4. The Price at which you would like to either Buy or Sell this stock.

After you have confirmed the order, it is placed in the Stock Exchange through the Online System. Your stocks are actually bought or sold once this order gets executed in the exchange.

What is a Limit Order / Limit Price ?

A Limit Order is a Buy / Sell order which you want to get executed at a pre-determined desired price. This is the most common type of order that investors and traders place in the market.

Buy Order with Limit Price

For example, if you want to buy the stocks of company ‘A’ at a price of Rs.300. However the current price of the stock might be higher than your desired price. But you feel that the price of this stock would come down sooner and reach Rs. 300. In such a case, you can place a Buy order with a limit price of Rs. 300. This means that you are instructing the system to buy the stocks of company A, only if the price reaches Rs. 300 or lesser.

So if a Buy Order gets executed with the Limit Price specified, then you could be assured that the actual price at which the stocks are purchased by you will always be either equal to or lesser than the Limit Price specified by you.

Sell Order with Limit Price

Similarly you may have the stocks of company ‘B’ in your demat account, which you would like to sell at a price of Rs.500. But currently the market price of the stock is lesser than 500 and you expect that sooner the price will reach Rs. 500. In such a case you can place a Sell order with a limit price set to Rs. 500. In this case, the stocks will be sold only if the price reaches Rs.500 or above.

So if a Sell Order gets executed with the Limit Price specified, then you could be assured that the actual price at which the stocks are sold by you will always be either equal to or greater than the Limit Price specified by you.

What is a Market Order ?

Market Orders are placed, when you are not concerned too much about the current price of the stock, but you want to get assured that the stocks are either bought or sold immediately. So a Market Order can be placed only during the Market Trading Hours. You cannot place a Market Order when the Markets are closed.

Market Order for Buying

For example, consider an instance where in you know the fact that company ‘A’ will be making a big announcement in the afternoon today and so the price of the stocks of this company will definitely rise after this event. So you are looking for buying this stock desperately now, irrespective of its current traded price. In such a case, you can place a ‘market order’ for this stock. This will place an order for buying the stocks at the Last Traded Price in the Stock Market. So the chances of buying the stocks increase, as you are trying to buy the stock very close to its Last Traded Price in the market.

Market Order for Selling

Similarly suppose that you know the price of stocks of company ‘B’ will go down later in the day when the company comes out with its Earnings report of Losses for the Quarter. So you would want to sell the stocks of this company immediately, before the price of the stocks fall drastically. In such a case, you can place a Market Order for Selling. This will place an order for selling the stocks at the Last Traded Price in the Stock Market. So the chances of selling the stocks increase, as you are trying to sell the stock very close to its Last Traded Price in the market.

Basics of Technical Analysis

What is Technical Analysis ?

Technical Analysis (TA) is one of the methods used to predict the movement of the price of a stock or an index in the future. The prediction is derived based on a careful analysis of the previous price movements of the stock or index. To put is simply, the future trend is derived based on the past movements of the stock.

Technical Analysis does not yield absolute results always. As is the case with any forecasting system, the TA can give you a hint on what might be expected. But the expectations might prove to be false in extreme market conditions.

So TA will not help you totally overcome the risks involved in the markets, but if used properly, it can help you to predict and take precautionary measures to a large extent.

What are Charts ? Why do we need them ?

Charts are graphical representations of the movement of the stock price or the index value, over a period of time. Along with the price or value, the charts can also be used to depict other related indicators such as the Volume or total traded quantity of stocks. Based on the stock prices or values, statistical indicators are used to obtain values, which can also be plotted on the charts.

Charts offer a very convenient way to visually analyze the movement of the stock price or value. Rising and Falling trends can be easily found out looking at the charts. Repeating Visual Patterns in the charts are also used to forecast the movement. Charts can also be used to spot and trace the effect of key events in the history of the price of the stock.

How are Charts Plotted ?

Financial Charts are generally 2D Charts. There are of course 3D and other higher dimensional charts used in advanced analysis.

The X-axis (Horizontal axis) is generally used to depict the Time Frame. The Y-Axis (Vertical Axis) is used to depict the price or the value that varies with time.

What are Technical Indicators ?

Technical Analysts often rely on some Statistical and Mathematical functions that are applied on the price or value of the stock. These are generally called as ‘Technical Indicators’ . The resultant values, after applying these functions to the price of the stock, are again plotted on the Chart. Analysts can get further hints from analyzing the movement of these indicator values.

There is no consensus or a prescribed set of indicators that have to be used. Each Technical Analyst uses a custom set of these indicators depending upon his / her Trading strategy.

Some of the most commonly used indicators include Relative Strength Index (RSI), Moving Averages (MA), Moving Average Convergence Divergence (MACD) and others.

Moving Averages

Moving Average (MA)

Moving Average is probably one of the most frequently used indicators in technical analysis. This is a statistical indicator which indicates the average movement of the price of the stock for a specified period. This can be calculated for any time series. Generally this will be used to indicate the overall movement of the stock price for the specified time frame range and thus smoothes out the short term variations and fluctuations.

Simple Moving Average (SMA)

The Simple Moving Average (SMA) is one of the simplest indicators to calculate. It gives the average price of stock over a specified period of time. Generally Moving Averages are calculated for the closing prices of the stocks at the end of the day. But you may also calculate for the High, Low, Close and even on the traded Volumes of the stock.

For example, the 9 period SMA gives the average closing price of the stock for the past 9 days. It is calculated as follows:

If P1 represents the price on day 1; P2 represents the price on day 2 and so on, then SMA for period n is calculated as follows:

SMA (for period n) = ( P1 + P2 + P3 + …… + Pn ) / n

So for example, if the close prices of a stock for 4 consecutive days are as follows: 120, 121, 122 and 123.

Then the SMA (for period 4) = (120 + 121 + 122 +123) / 4

So SMA (for period 4) becomes 486/4 = 121.5

Exponential Moving Average (EMA)

Exponential Moving Average (EMA) statistically applies exponentially decreasing weighting factor to the data. Thus EMA results in providing more importance to the recent variations in the data. So EMA reacts sharply to the recent data when compared to the SMA.

EMA for the Close price of a security is calculated as follows:

EMAc = (ClosePrice x Factor) + ( EMAp x (1-Factor) )

where:

EMAc = Current EMA

EMAp = Previous EMA

ClosePrice = Current Closing Price

Factor = 2 / (n+1) , where n is the period for which EMA is calculated

How to make profit with Moving averages

How to trade with Moving Averages ?

Moving Averages are particulary useful in identifying the direction of an uptrend or downtrend of stocks and markets in general. They are based on the previous data and hence are generally referred to as lagging indicators which help us in locating the trend and following on in the trend . Since they do not allow you to predict the trend, you have to use other technical indicators in conjunction with them during trading.

Generally, the most common way to trade with the Moving averages is this - If the price crosses above the moving average, it means that a buying interest has set in - and thus indicates a buy signal. Similarly when the price crosses down the moving average, it means that a selling pressure has set in - thus indicates a sell signal.

Although it helps in indicating the current trend, it does not indicate for how long this trend would continue or when does the reverse trend begin. So traders should be cautious about this when using the moving averages for planning trades. It is also important to consider the volume for the security in question before trading. Sporadic movements with low volumes can generate erratic signals.

Example :

Look at this chart of Reliance capital shown below. The bold yellow line indicates the price and the thin blue line indicates the 9-day Simple Moving Average of the Close price of this stock.

moving-average-example

As you can see from the above chart, when the price has crossed above the SMA, then it indicates that buying interest has set in. From then on, the stock price is on a rise with minor dips. The downtrend is indicated at the point after the price crosses down the MA line. This indicates a down trend and becomes a candidate for sell signal. As can be seen the prices come down in the downtrend.

Longer and shorter Moving Averages

Moving averages can be configured any period of your choice. The most common ones are 9 Day, 30 Days, 50 days and the 200 Day Moving averages. The longer the period, smoothing will be more. Thus in stocks which display a great deal of sharp glitches and breaks, longer moving averages would make sense, as smoothing would be better. Choosing short period moving averages in such cases would result in erratic signals.

Short trends are identified by short period MAs - like the 9 day and 15 day MAs. A medium term trend is given by the 30 - 50 day moving averages. 100 and 200 day moving averages can indicate the intermediate long term trends.

Trading with Moving average Crossovers

Plotting both long term and short term Moving averages for the same security can lead to crossovers. This can also indicate some trading signals in some cases. A buy signal is generally assumed if the short term moving average crosses over the long term moving average. Similarly a sell signal can be indicated when the short moving average falls down the long term moving average.

Example: Look at this chart of the stock ABB in the NSE. The bold yellow line signifies the price movement of the stock. The blue line is the 30 day EMA and the brown line is the 200 day EMA.

moving-average-crossover-example

As can be seen from the chart, when the short term MA i.e the 30 day EMA (blue line) crosses over the long term MA ( 200 day EMA - brown line), then an uptrend is identified and thus a buy signal is generated.

As indicated earlier, MA can help in identifying trends and can give late trading signals. When used with other technical indicators, they can be very helpful in determining trading strategies.

Relative Strength Index (RSI)

RSI Definiton and Calculation

RSI is a popular technical indicator that was developed by Welles Wilder. It is very popular because its very simple to interpret this indicator. It is an oscillator indicating the overbought and oversold conditions of the stock.

RSI is based on the comparison of the magnitude of the gain to the loss. It is the ratio of the EMA of Upward(U) and Downward(D) movements, which is then normalized to values between 0 to 100.

So, if

Pc represents the current Closing price

Pp represents the previous Closing price,

then on a day when the stock has closed up, U = Pc - Pp and D = 0

Similarly on a day when the stock has closed down, D = Pp - Pc and U = 0

Then EMA is calculated for U and D for a period n , represented respectively by EMAup and EMAdn.

Now RSI is calculated as follows:

RSI = 100 x (EMAup / (EMAup + EMAdn) )

How to make profit using RSI

How to trade with RSI ?

Generally a 14 period RSI is plotted for the close prices of the stock. RSI Value of 70 and above is considered to indicate that the stock is in Over Bought condition. Similarly an RSI value of 30 and below is considered to indicate that the stock is in Over Sold condition.

The Over Bought condition indicates that the stock price may be getting over valued and in the next trend may be a candidate for pullback in the downward direction. Similarly the over sold condition indicates that the stock may be getting under valued and in the next trend may be a potential candidate for a pullback rally in the upward direction.

Example : Consider this chart of the Infosys Technologies stock in the NSE:

rsi-example

The yello line at the top indicates the Close price of the stock over a period of time. The bottom line in torquoise blue indicates the 14 day RSI for the Close price of the stock.

As you can see in the chart, when the RSI values have crossed the 70 value, the stock enters the Overbought zone and becomes a candidate for pulldown thus giving a sell signal. Thus a downtrend in the price of the stock is seen after this condition.

Similarly when the RSI values have come below 30, the stock enters the Oversold zone and becomes a candidate for pullback thus giving a buy signal. Thus an uptrend in the price of the stock is seen after this condition.

However large surge and drops in the price of the stock will affect the RSI heavily and can lead to erratic buy and sell signals. So RSI should always be used in conjunction to other technical indicators to confirm the buy and sell signals.

NIFTY FOR THE WEEK ENDING 28TH SEPT CLOSED AT 5703 COMPARED TO ITS PREVIOUS WEEK’S CLOSING OF 5691. ALTHOUGH SUCH TYPE OF CLOSING BY JUST 12 POINTS UP ON A WEEKLY BASIS CAN BE CONSTRUED AS A FLAT CLOSE, YET THE FACT THAT NIFTY MADE A HIGHER WEEKLY HIGH , HIGHER WEEKLY LOW & A HIGHER WEEKLY CLOSING IS A CLEAR INDICATION THAT THE MEGA BULL RUN IS VERY MUCH INTACT AND THE EXPECTED OPERATOR INDUCED FALL LIKELY TO BE INFLICTED IN OCTOBER SHOULD ENCOURAGE THE FENCE SITTERS TO BOLDLY BUY FOR LONG TERM AND THE ALREADY LONG POSITION HOLDERS TO ADD ON TO THEIR LONGS ON EVERY DECLINE.

DUE TO EXPIRY CONSIDERATIONS, NIFTY CONTINUED TO REMAIN WEAK AND CLOSED AT THE EXPECTED LEVEL OF 5650. TRADERS & INVESTORS MUST KEEP IN MIND THAT THE WHOLE MARKET IS MANIPULATED BY A HANDFUL OF BIG EXTERNAL OPERATORS & SOME INTERNAL OPERATORS & NEVER EVER ANYTHING CAN BE DONE ABOUT IT. THIS MANIPULATION OF MARKETS WILL CONTINUE AND ONE HAS TO LIVE WITH IT. AFTER MAKING THE LAST FRIDAY’S HIGH OF 5720 SPOT NIFTY LEVELS, NIFTY IS IN THE PROCESS OF MAKING A PERFECT FLAG FORMATION AND TECHNICALLY THIS FLAG FORMATION AFTER THE BIG RISE FROM 20TH SEPT LOW OF 5535 TO THE 21ST SEPT HIGH OF 5620 IS A HIGHLY BULLISH SIGNAL FOR MUCH HIGHER LEVELS AND A BREACH

AS WAS WRITTEN YESTERDAY, DUE TO EXPIRY CONSIDERATIONS, NIFTY CONTINUED WITH THE RANGE BOUND MOVEMENTS WITH A NEGATIVE BIAS. WEDNESDAY SAW NIFTY MAKING THE 3RD CONSECUTIVE DAY OF LOWER HIGHS AND LOWER LOWS THAT ENCOURAGES ONE TO SHORT THE INTRADAY RISE AS LONG AS SPOT NIFTY FAILS TO CROSS LAST FRIDAYS HIGH OF 5720. EVERY INTRADAY RISE TOWARDS OR ABOVE 5700 SPOT LEVELS MAY BE RUTHLESSLY SHORTED BY HAVING A STOP LOSS ABOVE SPOT NIFTY LEVEL OF 5720 FOR GOOD INTRADAY GAINS. BEING EXPIRY DAY

DUE TO THE EXPIRY WEEK CONSIDERATIONS BEING IN PLAY, NIFTY CONTINUED TO TRADE IN A TIGHT RANGE OF 5710 ON THE HIGHER SIDE AND 5663 ON THE LOWER SIDE TO CLOSE AROUND 5672. TILL EXPIRY IS OVER ON 27TH SEPTEMBER, ONE WILL OBSERVE RANGE BOUND MOVE WITH A NEGATIVE BIAS. AS OF NOW THE EXPIRY IS LIKELY TO BE EITHER 5700 OR 5600. THE PRICE PATTERN SUGGESTS THAT THE BIG OPERATORS MAY PULL NIFTY DOWN FURTHER FROM THE PRESENT LEVELS TO HAVE THE EXPIRY AROUND 5600 LEVELS. HOWEVER THERE WILL BE MUCH BIGGER MOVEMENTS IN THE INDIVIDUAL STOCK PRICES OFFERING GREAT OPPORTUNITIES TO EARN HANDSOME GAINS IN THEM.

FOR TUESDAYS INTRADAY TRADING PURPOSE, SPOT NIFTY IS LIKELY TO BE RANGE BOUND AGAIN IN A TIGHT RANGE OF 5700 TO 5710 ON THE HIGHER SIDE & 5660 TO 5650 ON THE LOWER SIDE. SPOT NIFTY HAS INITIAL SUPPORT AROUND MONDAYS LOWS OF 5663 TO 5660 LEVELS SUSTAINING BELOW WHICH MAY EASILY SEE SPOT NIFTY SLIDING TOWARDS 5650 TO 5645 LEVELS. SIMILARLY ON THE HIGHER SIDE, SPOT NIFTY MAY FIND IT TOUGH TO BREACH 5696 TO 5700 ZONE SUSTAINING ABOVE WHICH ONLY ONE MAY SEE NIFTY MOVING UP IN STEPS TOWARDS 5705 TO 5710 FOLLOWED BY 5720. ONLY SUSTAINING ABOVE THE SPOT NIFTY LEVEL OF 5720 MAY GENERATE SHORT COVERING TO PROPEL NIFTY TOWARDS 5730 FOLLOWED BY 5740 LEVELS.

THE MARKETS CONTINUE TO REMAIN BULLISH TOWARDS NEW LIFE TIME HIGHS ABOVE 6300+ NIFTY LEVELS AS PART OF THE MEGA 3RD SUB WAVE OF THE MONSTER 3RD UP WAVE. USE EVERY CORRECTION TO BUY ONLY. HAVE TRAILING STOP LOSS AS THE MARKETS MOVE UP. SPOT NIFTY HAS INITIAL SUPPORT AROUND 5686 FOLLOWED BY 5666 & IF THE CRITICAL LEVEL AROUND 5666 DOES NOT HOLD THEN IT HAS STRONG SUPPORT AROUND 5630. NO CHANGE HAS BEEN MADE TO THE DAILY CHART ABOVE, AS THE MARKETS ARE MOVING UP EXACTLY AS PER THE LEVELS GIVEN IN THE CHART ABOVE. THE INVERTED HEAD & SOLDER AS GIVEN IN THE CHART ABOVE CAN SEE THE NEXT TARGET OF 5950 SPOT NIFTY LEVELS THAT WILL BE FOLLOWED BY NEW LIFE TIME HIGHS ABOVE 6357 WITH MANY PAUSES AND CORRECTIONS TILL SPOT NIFTY MAKES A NEW LIFE TIME HIGH.

ON THE HIGHER SIDE, SPOT NIFTY FINDS INITIAL RESISTANCE AROUND 5740 WHERE ONE MAY EXPECT SOME PAUSE THAT MAY SEE PITCHED BATTLE BETWEEN THE BULLS & THE BEARS TO REGAIN SUPREMACY. ONCE SPOT NIFTY BREACHES 5740 AND MORE IMPORTANTLY MANAGES TO CLOSE ABOVE IT THEN THERE IS NO STOPPAGE FOR SPOT NIFTY TOWARDS THE NEXT TARGET OF 5900+ LEVELS IN NEX FEW DAYS. LONG TO MEDIUM TERM HOLDERS MAY HOLD LONGS AND ADD LONG POSITIONS ON EVERY DECLINE AS LONG AS SPOT NIFTY DOES NOT BREACH 14TH SEPT OPENING GAP LOW OF 5530 ON A CLOSING BASIS. IN CASE SPOT NIFTY CLOSES ABOVE 5740 MORE LONGS BE ADDED TO SEE 5900 OR EVEN HIGHER LEVELS.

AS WAS WRITTEN BELOW FOR 18TH SEPT, INDIAN MARKETS TOOK A PAUSE AND AFTER 9 CONSECUTIVE DAYS OF MEGA RISE FROM THE 5TH SEPT LOW OF 5215 TILL 17TH SEPT HIGH OF 5650 SPOT NIFTY LEVELS, NIFTY CERTAINLY DESERVED A FEW DAYS OF PAUSE BEFORE RESUMING THE UPWARD MARCH AS PART OF THE MONSTER 3RD SUB LEG OF THE MEGA 3RD UP WAVE . ALTHOUGH HOLDERS OF SHORT POSITIONS MAY CONTINUE TO HOLD THE SHORT POSITIONS TILL SPOT NIFTY DECISIVELY BREACHES THE MONDAY 17TH SEPT HIGH OF 5650 & MORE IMPORTANTLY TILL SPOT NIFTY CLOSES ABOVE THE 22ND FEB SWING HIGH OF 5631, YET THE LIKELY INITIAL SLIDE ON THURSDAY 20TH SEPT SHOULD BE USED BY SHORT HOLDERS TO AT LEAST

NIFTY AS EXPECTED OPENED WITH A BIG GAP UP AND IN THE OPENING SECONDS ONLY REACHED THE DAY HIGH OF 5650 SPOT LEVELS MUCH HIGHER THAN THE CRITICAL SWING HIGH OF 5630. HOWEVER AFTER THE OPENING MINUTES NIFTY FAILED TO BREACH THE OPENING HIGH OF 5650 AND FELL TO MAKE AN INTRADAY LOW OF 5585 MUCH BELOW THE OPENING GAP LOW OF 5636. THREE MORE ATTEMPTS WERE MADE BY SPOT NIFTY TO BREACH THE CRITICAL RESISTANCE OF 5630 BUT IT FAILED ALL THE TIMES TO FINALLY CLOSE THE DAY AROUND 5610. NOW, SHOULD SPOT NIFTY FAIL TO BREACH THE CRITICAL 5630 & MORE IMPORTANTLY IF IT FAILS TO

LAST WEEK ENDING 14TH SEPTEMBER, AS EXPECTED NIFTY MADE A MONSTROUS UP MOVE TO REACH A WEEK ENDING HIGH OF 5587 FROM A WEEKLY LOW OF 5332 AND CLOSED THE WEEK AT 5578 WITH A GAIN OF MORE THAN 5% THAT TOO MUCH HIGHER THAN THE PREVIOUS WEEK ENDING 8TH SEPT HIGH OF 5366, LOW OF 5215 AND CLOSING OF 5358. THE MORE IMPORTANT FACTOR TO BE KEPT IN MIND IS THAT THE MONSTROUS WEEKLY GREEN CANDLE THAT WAS FORMED HAS PIERCED THE WEEKLY BOLLINGER BAND TO CLOSE THE WEEK MUCH ABOVE THE UPPER BAND FOR