NIFTY AS PER THE EXPECTATIONS REMAINED BULLISH AND MADE A HIGHER HIGH AT 5435 , HIGHER LOW AT 5394 AND A MUCH HIGHER CLOSING AT 5431 AROUND THE HIGHEST POINT OF THE DAY. THE EARLIER MENTIONED MONDAY’S DOJI HIGH OF 5275 PLAYED THE TRICK OF CATAPULTING NIFTY SPOT TOWARDS 5435 AND TUESDAYS OUTSIDE BAR LOW OF 5332 WILL BECOME A STRONG SUPPORT FOR NIFTY IN MAINTAINING THE UPWARD MOMENTUM. AS LONG AS SPOT NIFTY DOES NOT CLOSE
BELOW THIS 5332 THE TUESDAYS MOTHER CANDLE LOW OF THE OUTSIDE BAR SET UP, EVERY DECLINE TOWARDS IT MAY BE BOUGHT WITH A STOP LOSS BELOW THIS CRITICAL LEVEL OF 5332 TO REVERSE FOR SHORTS.
STARTING FROM THE 5TH SEPTEMBER LOWS OF 5215, NIFTY HAD THE LUXURY OF SIX CONSECUTIVE DAYS OF POSITIVE DAYS AND PERHAPS IS READY FOR A PAUSE FROM THE WEDNESDAY’S HIGHS OF 5435. THIS PAUSE MAY COME IN THE FORM OF A WELL CONCEIVED BULL TRAP OF WEDNESDAY’S ENDING WHEN NIFTY WAS MADE TO CLOSE AROUND THE HIGHEST POINT OF THE DAY, OR MAY BE MADE TO INCH UP A LITTLE MORE TOWARDS THE KISSING DISTANCE OF THE EARLIER 23RD AUGUST SWING HIGH OF 5449 TO SLIDE FROM THERE GENERATING THE FEAR OF A DOUBLE HEAD FORMATION (WHICH ALTHOUGH HAS ALREADY BEEN FORMED) WITH THE FEAR CONTINUING TILL FED ANNOUNCES THE OVER HYPED QE3 WHICH MOST LIKELY IS GOING TO DRAW BLANK ADDING TO THE AGONY OF THE BULLS. NOW THE THINGS HAVE COME TO SUCH A STAGE THAT EITHER THE FED OR THE ECB WILL MOVE THE MARKETS AND REST OF THE COUNTRIES IN THE WORLD HAVE NOTHING OF THEIR OWN TO MOVE THEIR OWN MARKETS. SO, BE READY FOR A WELL DESERVED PAUSE TO BE DEACTIVATED AGAIN BY THE FED ANNOUNCEMENT.
FOR THURSDAY’S INTRADAY TRADING PURPOSE, ONE MAY EXPECT A TIGHT RANGE BOUND MARKET WITH THE TRADERS LOOKING UPWARDS AS IF SOME NECTAR IS GOING TO FALL FROM THE HEAVEN IN THE FORM OF A FAVORABLE FED ANNOUNCEMENT. SPOT NIFTY FINDS INITIAL INTRADAY SUPPORT AROUND 5410 BELOW WHICH 5400 MAY HOLD . A FAILURE ON THE PART OF TIRED BULLS TO HOLD THE CRITICAL SPOT ZONE OF 5410 TO 5404 MAY SEE NIFTY SLIDING TOWARDS 5394 TO 5390 THAT MAY INJECT SOME VIGOR INTO THE BEARS TO SEE THAT FEAR IS GENERATED BEFORE THE FED ANNOUNCEMENT LATER IN THE NIGHT & PULL NIFTY FURTHER DOWN TOWARDS 5383 OR 5370 TO SEE A SOLID BOUNCE FROM THERE ON .
SIMILARLY ON THE HIGHER SIDE, IN CASE AN OPERATOR DRIVEN SLIDE SIMILAR TO WEDNESDAY FAILS TO PUNCTURE THE 5400 SPOT LEVELS THEN NIFTY MAY MAKE ANOTHER ATTEMPT AT THE CRITICAL 23RD AUGUST SWING HIGH OF 5449 TO GENERATE MASSIVE SHORT COVERING THAT MAY PROPEL SPOT NIFTY TOWARDS THE NEXT LOGICAL LEVEL OF 548 & THEN 5475 TO BE AT THE STRIKING DISTANCE FROM THE 14TH MARCH SWING HIGH OF 5499 SPOT TO SEE THE FINAL CONTEST BETWEEN THE BULLS & THE BEARS THERE, POSSIBLY ON 14TH SEPTEMBER OR EARLY NEXT WEEK SHOULD THE FED DRAW BLANK ON THURSDAY NIGHT WHICH AS OF NOW SEEMS MOST LIKELY. (THE TRADING LEVELS FOR NIFTY FUTURES ARE FOR SUBSCRIBERS ONLY)
TRADERS AND INVESTORS MUST KEEP IN MIND THAT THE MARKETS HAVE GONE UP CONSECUTIVELY FOR SIX TRADING DAYS AND ARE RIPE FOR A PAUSE AND CORRECTION THAT MAY BE DELIVERED IN THE FORM OF FED ANNOUNCEMENT. EVEN IF THE FED ANNOUNCEMENT ARE DIRECT AND FAVORABLE THAT IS CONTRARY TO THE AS USUAL CONFUSION, YET THE MARKETS ARE LIKELY TO PAUSE OR CORRECT A BIT AFTER THE INITIAL JUMP. HOWEVER THE MARKETS ARE OVERALL IN THE MEGA BULL RUN AS PART OF THE MONSTER 3RD UP WAVE AND EVERY DECLINE IS A GREAT BUYING OPPORTUNITY FOR MEDIUM TO LONG TERM. SO, EVEN IF THE MARKET PAUSES OR CORRECTS AFTER THE FED IT WILL BE TEMPORARY IN NATURE & SHOULD BE MADE FULL USE OF TO BUY ONLY.
BELOW THIS 5332 THE TUESDAYS MOTHER CANDLE LOW OF THE OUTSIDE BAR SET UP, EVERY DECLINE TOWARDS IT MAY BE BOUGHT WITH A STOP LOSS BELOW THIS CRITICAL LEVEL OF 5332 TO REVERSE FOR SHORTS.
STARTING FROM THE 5TH SEPTEMBER LOWS OF 5215, NIFTY HAD THE LUXURY OF SIX CONSECUTIVE DAYS OF POSITIVE DAYS AND PERHAPS IS READY FOR A PAUSE FROM THE WEDNESDAY’S HIGHS OF 5435. THIS PAUSE MAY COME IN THE FORM OF A WELL CONCEIVED BULL TRAP OF WEDNESDAY’S ENDING WHEN NIFTY WAS MADE TO CLOSE AROUND THE HIGHEST POINT OF THE DAY, OR MAY BE MADE TO INCH UP A LITTLE MORE TOWARDS THE KISSING DISTANCE OF THE EARLIER 23RD AUGUST SWING HIGH OF 5449 TO SLIDE FROM THERE GENERATING THE FEAR OF A DOUBLE HEAD FORMATION (WHICH ALTHOUGH HAS ALREADY BEEN FORMED) WITH THE FEAR CONTINUING TILL FED ANNOUNCES THE OVER HYPED QE3 WHICH MOST LIKELY IS GOING TO DRAW BLANK ADDING TO THE AGONY OF THE BULLS. NOW THE THINGS HAVE COME TO SUCH A STAGE THAT EITHER THE FED OR THE ECB WILL MOVE THE MARKETS AND REST OF THE COUNTRIES IN THE WORLD HAVE NOTHING OF THEIR OWN TO MOVE THEIR OWN MARKETS. SO, BE READY FOR A WELL DESERVED PAUSE TO BE DEACTIVATED AGAIN BY THE FED ANNOUNCEMENT.
FOR THURSDAY’S INTRADAY TRADING PURPOSE, ONE MAY EXPECT A TIGHT RANGE BOUND MARKET WITH THE TRADERS LOOKING UPWARDS AS IF SOME NECTAR IS GOING TO FALL FROM THE HEAVEN IN THE FORM OF A FAVORABLE FED ANNOUNCEMENT. SPOT NIFTY FINDS INITIAL INTRADAY SUPPORT AROUND 5410 BELOW WHICH 5400 MAY HOLD . A FAILURE ON THE PART OF TIRED BULLS TO HOLD THE CRITICAL SPOT ZONE OF 5410 TO 5404 MAY SEE NIFTY SLIDING TOWARDS 5394 TO 5390 THAT MAY INJECT SOME VIGOR INTO THE BEARS TO SEE THAT FEAR IS GENERATED BEFORE THE FED ANNOUNCEMENT LATER IN THE NIGHT & PULL NIFTY FURTHER DOWN TOWARDS 5383 OR 5370 TO SEE A SOLID BOUNCE FROM THERE ON .
SIMILARLY ON THE HIGHER SIDE, IN CASE AN OPERATOR DRIVEN SLIDE SIMILAR TO WEDNESDAY FAILS TO PUNCTURE THE 5400 SPOT LEVELS THEN NIFTY MAY MAKE ANOTHER ATTEMPT AT THE CRITICAL 23RD AUGUST SWING HIGH OF 5449 TO GENERATE MASSIVE SHORT COVERING THAT MAY PROPEL SPOT NIFTY TOWARDS THE NEXT LOGICAL LEVEL OF 548 & THEN 5475 TO BE AT THE STRIKING DISTANCE FROM THE 14TH MARCH SWING HIGH OF 5499 SPOT TO SEE THE FINAL CONTEST BETWEEN THE BULLS & THE BEARS THERE, POSSIBLY ON 14TH SEPTEMBER OR EARLY NEXT WEEK SHOULD THE FED DRAW BLANK ON THURSDAY NIGHT WHICH AS OF NOW SEEMS MOST LIKELY. (THE TRADING LEVELS FOR NIFTY FUTURES ARE FOR SUBSCRIBERS ONLY)
TRADERS AND INVESTORS MUST KEEP IN MIND THAT THE MARKETS HAVE GONE UP CONSECUTIVELY FOR SIX TRADING DAYS AND ARE RIPE FOR A PAUSE AND CORRECTION THAT MAY BE DELIVERED IN THE FORM OF FED ANNOUNCEMENT. EVEN IF THE FED ANNOUNCEMENT ARE DIRECT AND FAVORABLE THAT IS CONTRARY TO THE AS USUAL CONFUSION, YET THE MARKETS ARE LIKELY TO PAUSE OR CORRECT A BIT AFTER THE INITIAL JUMP. HOWEVER THE MARKETS ARE OVERALL IN THE MEGA BULL RUN AS PART OF THE MONSTER 3RD UP WAVE AND EVERY DECLINE IS A GREAT BUYING OPPORTUNITY FOR MEDIUM TO LONG TERM. SO, EVEN IF THE MARKET PAUSES OR CORRECTS AFTER THE FED IT WILL BE TEMPORARY IN NATURE & SHOULD BE MADE FULL USE OF TO BUY ONLY.
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