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
MAY EVEN HAVE THE ROVING STOP LOSS SHIFTED UP TO JUST BELOW THE 1ST OCTOBER LOW OF 5694 WHICH IS ALSO THE LOW OF THE TWIN 7TH NRB OF 1ST & 3RD OCTOBER AND RIDE THE BULL RUN TO REVERSE FOR SHORTS ONLY IF SPOT NIFTY CLOSES BELOW 5694. IF AT ALL A CORRECTION OR A PAUSE HAS TO COME, THEN IT MAY COME FROM MONDAY 8TH OCTOBER THAT MAY BE TRIGGERED BY DOW OPERATORS PULLING DOWN DOW BADLY ON FRIDAY NIGHT TO TRAP ASIAN MARKETS ON MONDAY MORNING WHICH HAS HAPPENED MANY TIMES IN THE PAST.DOW WHICH IS HIGHLY BULLISH ON THURSDAY MAY EVEN COME DOWN AFTER CLOSURE OF EUROPEAN MARKETS.
FOR FRIDAYS INTRADAY TRADING PURPOSE, SPOT NIFTY MOST LIKELY SHOULD BREACH THURSDAYS INTRADAY HIGH OF 5808 WHICH ALTHOUGH LOOKS LIKE A DEADLY NUMBER TO PUT THE BULLS OUT OF GEAR, YET TECHNICALLY NIFTY LOOKS SOUND ENOUGH TO HIT 5900+ LEVELS IN NEXT FEW DAYS BEFORE THE PAUSE SETS IN. IN CASE OF ANY INTRADAY CORRECTION, THE BULLS MUST HOLD 5778 SPOT IN ORDER TO STAY IN THE MARKETS FAILING WHICH THEY HAVE TO RUN TOWARDS 5764 OR TOWARDS THEIR ROVING HEADQUARTERS NOW SHIFTED TO THURSDAYS OPENING GAP LOW OF 5752 WHERE WAITING RESERVE BULLS ON THEIR HUNCHES MAY JOIN THE RUNNING IN BULLS TO CHASE THE BEARS AGAIN TOWARDS THURSDAYS HIGHS. SO, FOR THE BULLS TO SURVIVE, NIFTY SPOT LEVEL OF AROUND 5750 HAS TO BE PROTECTED .
SIMILARLY ON THE HIGHER SIDE ONE MAY OBSERVE A PITCHED BATTLE BETWEEN THE BULLS & THE BEARS WITHIN THE CRITICAL ZONE OF 5808 TO 5820 ABOVE WHICH ONE MAY NOT FIND ANY BEAR AT ALL AS THE BEARS MAY CONVERT THEMSELVES AS BULLS TO PUSH NIFTY TOWARDS 5840 OR HIGHER LEVELS IN SPITE OF THE WEEKEND PHOBIA OR THE FEAR OF DOW’S AS USUAL FRIDAY NIGHT KNOCK OUT PUNCH. AS WAS MENTIONED EARLIER IT WILL BE THE STOCKS & STOCK FUTURES THAT WILL GIVE HANDSOME GAINS DURING THE TRENDING MARKETS AND ONE SHOULD BOLDLY ACCUMULATE FUNDAMENTALLY STRONG BUT BADLY SUPPRESSED STOCKS FOR HANDSOME GAINS AS THESE WILL OUT-PERFORM THE MARKETS DURING THE BULL RUN AND SPECIALLY DURING THE PAUSE OR CORRECTIONS.
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
MAY EVEN HAVE THE ROVING STOP LOSS SHIFTED UP TO JUST BELOW THE 1ST OCTOBER LOW OF 5694 WHICH IS ALSO THE LOW OF THE TWIN 7TH NRB OF 1ST & 3RD OCTOBER AND RIDE THE BULL RUN TO REVERSE FOR SHORTS ONLY IF SPOT NIFTY CLOSES BELOW 5694. IF AT ALL A CORRECTION OR A PAUSE HAS TO COME, THEN IT MAY COME FROM MONDAY 8TH OCTOBER THAT MAY BE TRIGGERED BY DOW OPERATORS PULLING DOWN DOW BADLY ON FRIDAY NIGHT TO TRAP ASIAN MARKETS ON MONDAY MORNING WHICH HAS HAPPENED MANY TIMES IN THE PAST.DOW WHICH IS HIGHLY BULLISH ON THURSDAY MAY EVEN COME DOWN AFTER CLOSURE OF EUROPEAN MARKETS.
FOR FRIDAYS INTRADAY TRADING PURPOSE, SPOT NIFTY MOST LIKELY SHOULD BREACH THURSDAYS INTRADAY HIGH OF 5808 WHICH ALTHOUGH LOOKS LIKE A DEADLY NUMBER TO PUT THE BULLS OUT OF GEAR, YET TECHNICALLY NIFTY LOOKS SOUND ENOUGH TO HIT 5900+ LEVELS IN NEXT FEW DAYS BEFORE THE PAUSE SETS IN. IN CASE OF ANY INTRADAY CORRECTION, THE BULLS MUST HOLD 5778 SPOT IN ORDER TO STAY IN THE MARKETS FAILING WHICH THEY HAVE TO RUN TOWARDS 5764 OR TOWARDS THEIR ROVING HEADQUARTERS NOW SHIFTED TO THURSDAYS OPENING GAP LOW OF 5752 WHERE WAITING RESERVE BULLS ON THEIR HUNCHES MAY JOIN THE RUNNING IN BULLS TO CHASE THE BEARS AGAIN TOWARDS THURSDAYS HIGHS. SO, FOR THE BULLS TO SURVIVE, NIFTY SPOT LEVEL OF AROUND 5750 HAS TO BE PROTECTED .
SIMILARLY ON THE HIGHER SIDE ONE MAY OBSERVE A PITCHED BATTLE BETWEEN THE BULLS & THE BEARS WITHIN THE CRITICAL ZONE OF 5808 TO 5820 ABOVE WHICH ONE MAY NOT FIND ANY BEAR AT ALL AS THE BEARS MAY CONVERT THEMSELVES AS BULLS TO PUSH NIFTY TOWARDS 5840 OR HIGHER LEVELS IN SPITE OF THE WEEKEND PHOBIA OR THE FEAR OF DOW’S AS USUAL FRIDAY NIGHT KNOCK OUT PUNCH. AS WAS MENTIONED EARLIER IT WILL BE THE STOCKS & STOCK FUTURES THAT WILL GIVE HANDSOME GAINS DURING THE TRENDING MARKETS AND ONE SHOULD BOLDLY ACCUMULATE FUNDAMENTALLY STRONG BUT BADLY SUPPRESSED STOCKS FOR HANDSOME GAINS AS THESE WILL OUT-PERFORM THE MARKETS DURING THE BULL RUN AND SPECIALLY DURING THE PAUSE OR CORRECTIONS.
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