bank nifty charts

a bearish WW pattern developing in BN  15min 10 day charts
sell on upmove tomm in 11750-70 range
trgts below 11350 in next 3 trading days

nifty views

on friday US markets closed with weakness and this may be was just in celebration by bears  of the biggest fall of 12% in DOW 25 yrs back and/but  may not see asian markets opening with a big gap down as crude and base metals were down which is always good for asian markets and especially for indian markets...
if nifty open flat with positive bias may move ns  up towards 5710-20 range again and then may see fall again in later part of day...dollar has already risen in anticipation of fall in US markets and may start retracing  from monday
or if open with a  small gap down opening then 5650 will be first support and then 5632-5623 range is very strong support if held then may again move up towards 5723-40 levels
if ns opens gap down on monday and breaks below 5630-5623 range in first 45-60min then expect ns to dip below till 5577 levls and if closes below 5600 will see nifty in red for next three days till friday...may dip towards 5544 till expiry and close expiry near 5580
after expiry fall may continue on friday which may see nifty dipping towards 5500-5490 range and from there a strong upmove till 6030 is expected by end of nov or max upto 2nd week of dec month

bank nifty 5 min charts

a bullish WW developing in BN charts

nifty views for next week

expecting nifty to be in positive zone for next 2 days...buy any dips at open near 5656-5664 range with sl below 5633
may trgt 5760-70 ns levels which will be great place to accumulate shorts with sl abv 5828 for trgts of 5580
expecting ns to trade in 5760-5580 in coming  week

5760 -5783 is stiff res range for ns in next week
for shorts created at 5760-70 safe traders can keep sl abv 5783...as if sustains abv 5783 will trgt 5810-15 range swiftly  again where they can create shorts
multiple lot traders can sart accumulating shorts 25% each at  5760 and 5783 and bal 50% at 5810...sl abv 5828 range

BULLISH WW IN NIFTY CHARTS

a small bullish WW in ns 2 day5 min charts
trgt 5710 in few min after open
sl is below 5656

nifty daily charts

expecting ns to trgt 5930-50 range till 11th-12th oct and then a big correction may setin towards 5400 levels
reforms have set the pace of upmove ,FIIs have been buying briskly since last few months
now will be turn of quarterly results to either put brakes on or keep the pace up
INFY results on 12th oct may decide the trend 
option buyers will have great opportunity as expecting strong volatility to start soon
expecting gone are the days of 30-35 point intraday nifty move
may see lot of 65-75 point intraday move days

strategy:
buy 5800pe near rs. 50  on upmove
buy 5800ce near Rs 50 on dips
trgt abv 170 this series

TIME TO BE CAUTIOUS

on friday huge addition was seen in 5800,5900 and 6000calls
5800 ce added near 17.5 lakhs in O.I
5900ce added...near 10.5 lakhs in O.I
and 6000ce added ...near 11.5 lakhs in O.I
total O.I in 5800,5900 and 6000ce is near 2 cr
whereas total O.I in 5700,5600 and 5500pe is near 1.7 cr
is it time to be cautious with longs???

MOREOVER WAS THE  FRIDAY FIASCO A TRAILOR?? ..
AND PICTURE ABHI BAAKI HAI MERE DOST

OR WAS IT JUST A TECHNICAL FAT FINGER ERROR???...

Gold could hit an all-time high of $2,400

Gold could hit an all-time high of $2,400 by next summer, driven up by a third round of quantitative easing in the US. The first round of QE in February 2009 caused the gold price to increase rapidly from a base of $900/oz – from which it has never looked back.

BlackRock fund manager Evy Hambro who invests in the precious metal and gold equities, predicted that QE3 could result in the gold price hitting US$2,400/oz by the middle of next summer.

In his gold report this week he said: “The gold chart has turned decidedly bullish with the 50-day moving average rising above the 200-day moving average. The last time this happened was in February 2009, which interestingly was shortly after the implementation of QE1. Then, gold was $900/oz and never looked back. Should we witness a similar rally, prices would be taken to $2,400/oz by midsummer next year – and $1,760/oz would be the new floor.”

source:email from friend