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
MARKETS FOR 7TH DECEMBER
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.
MARKETS FOR 6TH DECEMBER
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.
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.
MARKETS FOR 5TH DECEMBER
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.
MARKETS FOR 4TH 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.
MARKETS FOR 3RD DECEMBER
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.
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