nifty update

today if ns closes below 6042 then carry shorts for monday

if closes abv 6048 then exit shorts will again do a new trade on monday

all levels are ns levels

NIFTY STRATEGY FOR NEXT WEEK

STRATEGY FOR COMING DAYS

TOMORROW SELL NIFTY ON ANY UPMOVE NEAR 6156-66 NS  RANGE WITH SL ABV 6200 NS

TRGTS 6020-10 RANGE

BUY AGAIN NEAR 6010-20 RANGE FOR TRGTS NEAR 6190-6200

SL BELOW 5970NS

NIFTY UPDATE

EXIT LONGS TAKEN YESTERDAY AT CMP 6102NS

FUT ARE TRADING AT PAR WITH SPOT PRICES AGAINST DISCOUNT OF 10-14PTS YESTERDAY

SELL NIFTY 6102NS CMP

SL ABV 6114NS

TRGT 6090-6077-6064

PROBABLE TRADING RANGE MAY BE 6064-6136NS LEVELS

NIFTY VIEWS

BUY NIFTY NEAR 6072NS LEVELS

SL BELOW 6054NS

TRGTS 6090-6112-6128

ABV 6128 MAY MOVE SHARPLY TOWARDS 6156NS

INFOSYS VIEW

INFOSYS MAY TARGET 2300 NEAR EXPIRY

SELL ON EVERY RISE TOWARDS 2370-80 WITH SL ABV 2390

TRGTS 2300-2280

BUY AGAIN ON DIPS NEAR 2300 WITH SL BELOW 2255

TRGTS 2350-2400-2450

NIFTY VIEWS

TOMORROW NIFTY MAY OPEN WITH NEGATIVE BIAS 

NEAR 5950NS AND MAY TRADE IN 5925-5995 RANGE 

INTRADAY

IF CLOSES ABV 5973NS THEN I AM EXPECTING A BIG 

GAPUP ON MONDAY AND NEAR 220 POINT UPMOVE 

FROM TOMORROW LOWS IN THIS SERIES ONLY

STRATEGY:BUY ANY DIP NEAR 5920-30 RANGE WITH 

SL BELOW 5896NS

TRGTS 5973-5995-6114-6134

NIFTY UPDATE

BUY WAS INITIATED IN NIFTY IN 6030-40 RANGE AS PER POST YESTERDAY

LOWS SO FAR IS 6036NS

CMP 6043NS

6026-6014 IS GREAT SUPPORT RANGE

SL BELOW 6010NS

BELOW 6014 SUPPORT AT 5970NS LEVELS

NIFTY VIEWS

TOMORROW ON WEAK GLOBAL CUES NIFTY MAY 

OPEN WITH SMALL GAP DOWN

IF OPENS BELOW 6074 THEN NIFTY MAY DIP 

TOWARDS 6030NS WHERE 21EMA IN DAILY CHARTS 

MAY LEND GREAT SUPPORT

IN LATER PART OF DAY SBI WILL DECLARE ITS 

RESULTS WHICH MAY GIVE TRIGGER TO UPMOVE IN

 NIFTY TOWARDS 6075-6103-6136

ABV 6136 BULLS MAY TAKEOVER AGAIN FOR TRGTS 

NEAR 6200-6209 TILL FRIDAY

BUY ALL DIPS NEAR 6030-40 RANGE WITH SL BELOW

 6010NS

NIFTY VIEWS

PINK LINES IS MAKING A BROADENING PATTERN

PROBABLY MAY RETEST LOWER T/L NEAR 6075 AND THEN MAY MOVE UP AGAIN TOWARDS UPPER T/L FOR TRGTS NEAR 6278-6314

TONITE US FED MEET MAY GIVE SOME CLUES FOR UPMOVE

SUPPORT NEAR 6075 FOR TODAY

ALSO A +WW DEVELOPING WHICH SHALL MAKE A LOWER LOW BELOW 6100NS AND THEN MAY MOVE UPWARDS TOWARDS 6150

ABV 6168 IF SUSTAINS THEN BULLS MAY RETURN AGIN WITH ALL THEIR STRENGTH

NIFTY VIEWS

EXPANDING TRIANGLE DEVELOPING IN 5 MIN CHARTS:

TOMORROW IF NIFTY OPENS FLAT THEN MAY TAKE STRONG SUPPORT NEAR 6136-6132 RANGE

BUY NEAR THIS RANGE WITH STRICT SL BELOW 6114NS 

TRGTS 6272-78 TILL THURSDAY

TOMORROW INITIALLY MAY MOVE UP TOWARDS 6172-76 LEVELS AND FROM THERE MAY DIP AGAIN TOWARDS 6136-32 RANGE

PROBABLE PATH:6172-6136-6195-6175-6272

wolves attacks on nifty

BEARS PROTECT KARO

WOLVES MAY ATTACK SEVERELY TODAY IN LATER PART OF THE DAY

TOO MANY +WW DEVELOPING IN 5 MIN CHARTS

BLUE LINES AND PINK LINES INDICATING DEVELOPING +WW

AND GREEN LINES ARE TRGTS

TRGTS 6175-6205-6235

SL BELOW 6126

THOUGH I GUESS NIFTY MAY NOT BREAK BELOW 6140 

CMP 6150

ACCUMULATE LONGS

INTRADAY NIFTY VIEWS

BUY NIFTY HERE CMP 6150

SL BELOW 6126

TRGTS 6175-6205-6235

THOUGH I GUESS NS MAY NOT BREAK BELOW 6140NS

probable path of nifty

probable path of nifty for next 12-15 sessions

resistance and long term support lines meeting near 6538 levels

5970 will be solid support

after ns reaches near 6538 levels expanding triangle will come into play

if could not break abv it decisively then may probably dip towards lower T/L  of expanding triangle below 5400 levels

this is just a guideline i am inferring from chart patterns and i may be totally wrong also

TRADING STARTEGY

TRADING STRATEGY FOR TOMORROW:

IF OPENS FLAT OR SMALL GAPUP THEN MAY MOVE 

DIRECTLY TOWARDS 6200-6205 RANGE 

SELL NEAR 6200-05 RANGE WITH SL ABV 6224NS



TRGTS 6160-56 RANGE(EXPECTED TIME NEAR 

12NOON +/- 30 MIN)

BUY AGAIN NEAR 6160-56 RANGE WITH SL BELOW 

6126


TRGTS 6187-6210-6235 NEAR EOD

MAY CLOSE NEAR 6225

nifty views

today ns closed exactly at 6170 levels(6169.9)

may open with a small positive bias tomorrow near 6176 and may broadly trade in 6235 and 6156 range

possibility of closing near 10 points below days high

if ns closes abv 5920 on friday then may expect another gapup on monday for trgts of 6290

strategy

buy all dips near 6156 with sl below 6128

trgts 6235-6290-6314 till wednesday next week

intraday nifty views

posted yesterday:

tomorrow nifty may open with a small gapup 

near 6167 and may trade in 6189-6126 range 

and probably may close near 6157 again......



..range so far is 6187-6128


today nifty has given a breakout abv upper T/L of a 

smaller expanding triangle pattern.......if its genuine 

breakout then may trgt 6314 next week .towards upper 

T/L of larger expanding triangle .......but.if it reverses 

from here towards lower T/L then may trgt 5970-90 

levels...breakout may be confirmed tomorrow if sustains 

abv 6210ns

now sell any upmove near 6190ns with sl abv 6215

trgts 6167-6154-6142

nifty views

tomorrow nifty may open with a small gapup near 6167 and may trade in 6189-6126 range and probably may close near 6157 again

a small expanding triangle is developing within a larger expanding triangle  in nifty 30min charts

6178-89 is res of upper trendline of smaller expanding triangle

and near 5970 is support of lower T/L

abv 6200 larger triangle will come into play with upper t/l near 6314  and lower T/L near 6000 and both willmove up as day passes

trade:sell near 6178-85 wit

h sl abv 6210

trgts 6167-41-26

exit shorts near 6130 and go long with sl below 6114ns for friday trgts near 6210-6243-6262

a small contracting triangle developing in 2 min charts 

or is it a bullish penant(flag) 

ht of pole is near 150 pts

abv 6120 and below 6104 will decide

will it be a reversal pattern or a continuation 

pattern?????

wait and watch

abv 6127 ns may trgt 6270

(6120+150=6270)

cmp 6114ns

nifty views

expecting ns to trgt 6111 levels today and may close near 6095-99 range

tomorrow may trade in 6060-6145 range

and friday may expect highs in 6178-90 range

i guess nifty wont stop till 6314 is reached next week

sl below 6050 now

buy all dip near 6060ns with sl below 6026

nifty views

tomorrow if ns opens near  6008 then go longs if sust abv 6008 for 5 min with 5970 as sl for trgts 6026-6058-6094(6110)

if ns trade abv 6026 then keep TSL at 6008 and trail

if trade abv 6058 then trail with 6026 and so on

if 5971 is protected then ns may move up towards 6314-6538-6644

if breaks below 5928 ns then may trgt 5798 

nifty charts

UPDATE

WEDNESDAY, MAY 8, 2013

nifty views

if tomorrow again open with gapup and sustains abv 6091ns then may even trgt 6127 where nifty may face some res

may see correction of near 140 points towards 5987 during start of next week 

if ns ends its correction near 5987 then may start another round of upmove

if breaks below 5972 then correction may get deeper 

THIS WAS VIEW POSTED ON BLOG LAST WEEK

WAS EXPECTING RES NEAR 6127 BUT NIFTY GOT RESISTED AT 6114NS

SO AS EXPECTED DID A 140 POINT CORRECTION TOWARDS 5974

WAITING EAGERLY HOW NIFTY UNFOLDS HER MOVES TOMORROW

IF MOVES AS PER MY EXPECTATION THEN MAY SEE NIFTY STOPPING ONLY AT 6314 IF SUSTAINS ABV 6118NS

nifty views

if tomorrow opens with a gapup abv 6000 then shorters ki vaat lagegi and the upmove can be fast and furious

i guess the correction for this upmove had been done today (140 pt correction was expected and done)

possibly tomorrow(or nextday) nifty may cover all its losses made today

its just a probability as of now and will update tomorrow during market

buy strongly if sustains abv 6016ns

Expanding Triangle (Elliott Wave)


This is a five-wave pattern in which the waves are constructed of three waves

The pattern emerges normally between one rising and one falling diverging lines. In this situation it is a continuation pattern and is merely an inverted standard triangle.

BROADENING PATTERN(MEGAPHONE)

Definition of 'Broadening Formation'
A pattern that occurs during high volatility, when a security shows great movement with little direction. The formation is identified by a series of higher pivot highs and lower pivot lows. A trendline drawn over the pivot highs and under the pivot lows frames out the widening pattern. It looks like a megaphone and, in fact, it is also known by that name. 

Investopedia explains 'Broadening Formation'
As the two trendlines diverge from the apex, the pattern resembles a reverse version of a symmetrical triangle. This pattern is considered quite rare, but is useful in helping technicians to identify swing trades, rather than a trend trades.

A Megaphone Top also known as a Broadening Top is considered a bearish signal, indicating that the current uptrend may reverse to form a new downtrend.


A Megaphone Top is a relatively rare formation and is also known as a Broadening Top. Its shape is opposite to that of a Symmetrical Triangle. The pattern develops after a strong advance in a stock price and can last several weeks or even a few months.


A Megaphone Top is formed because the stock makes a series of higher highs and lower lows. The Megaphone Top usually consists of three ascending peaks and two descending troughs. The signal that the pattern is complete occurs when prices fall below the lower low.

Underlying Behavior

The creation of the pattern reflects a period of time when bulls and bears are battling to gain control of the stock. The pattern occurs after the bulls have been charging and driving the stock price appreciably higher. During the formation of the Megaphone Top, however, bears are exerting increasing influence on the stock and causing it to set a series of lower lows. The increasing volatility eventually creates a sense of uncertainty, leads to profit-taking, and deters some of the bulls from making any further commitments.

The bears eventually triumph.

NIFTY VIEWS

ON MONDAY NIFTY MAY OPEN WITH A SMALL GAPUP 

OF NEAR 20 POINTS AND MAY TRGT 6140-45 SOON 

AFTER OPENING RANGE WHERE NIFTY CAN BE 


SHORTED FOR 6045-55 RANGE.....SL ABV 6155


RISK TAKERS MAY START ACCUMULATING LONGS 

FROM OPENING IF ABV 6118( THOUGH I EXPECT MAY 

OPEN ABV 6124)

ON MONDAY AFTER FIRST HR NIFTY WILL FAVOUR 

BEARS AND NEAR EOD MAY COVER SOME INTRADAY 

LOSSES THOUGH MAY CLOSE IN RED

TUESDAY MAY BE A GOOD DAY FOR BULLS AGAIN

MAY TRGT 6180-90 RANGE NEXT WEEK(POSSIBLE 

TILL TUESDAY)

LONGS MADE TODAY SHALL HAVE SL BELOW 6072

AND ANY MADE NEAR 6055 SHD HAVE BELOW 6012

NIFTY VIEWS

ANOTHER CHANNEL PATTERN CHARTS

MAY RETEST 6025NS AND IF DOES NOT BREAK BELOW IT DECISIVELY THEN MAY MOVE UP TOWARDS 6127-55 LEVELS AS SHOWN IN BLACK LINES

IF NS COULD NOT BREAK ABV 6077 SOON THEN MAY PROBABLY DIP TOWARDS 6055-6040-6025

INTRADAY NIFTY VIEWS

NS AT 6065CMP

MAY FACE IMMED RES NEAR 6077-

6080(PINK CHANNEL)

MAY DIP TOWARDS 6040 AGAIN TODAY TO TEST YESTERDAYS BOTTOM AND MAY MOVE UP TOWARDS 6103 NEAR EOD TODAY

IF DIP TO 6040 AND MOVES UP AGAIN WILL MAKE DOUBLE BOTTOM PATTERN

nifty views

if tomorrow again open with gapup and sustains abv 6091ns then may even trgt 6127 where nifty may face some res

may see correction of near 140 points towards 5987 during start of next week 

if ns ends its correction near 5987 then may start another round of upmove

if breaks below 5972 then correction may get deeper 

nifty intraday views

expecting following path in nifty till 1.15pm

6046(cmp)-6058-6041-6070(near 1.15pm)

shorts may be booked once below 6045

will sell again near 6070

NIFTY VIEWS

I WAS EXPECTING TODAYS MOVE TO HAPPEN ON MONDAY
SO MY VIEW OF TUESDAY MAY BE SEEN TOMORROW

MAY OPEN WITH A SMALL GAPUP TOMORROW

MAY FALL TOWARDS 6000-6010 RANGE INTRADAY AND IN LATER PART OF DAY MAY COVER ALL THE LOSSES AND MAY CLOSE NEAR TODAYS CLOSE NEAR 6045

TOMORROW HIGH MAY BE 6065-75 RANGE,BUT WILL IT COME IN 1ST HR AFTER OPEN OR IN LAST HR MOVE IT HAS TO BE SEEN TOMM

IF U SEE THIS RANGE OF 6065-75  AT OPEN THEN SELL WITH SL ABV 6091NS

TRGTS 6000+/-10PTS

BUY AGAIN NEAR 6000-6010
SL BELOW 5978NS

ON THURSDAY NS MAY TEST 6091NS AND MAY SEE START OF SOME CORRECTION THEREAFTER

tata steel call review

SUNDAY, APRIL 28, 2013

SOME STOCK VIEWS FOR NEXT WEEK

TATA STEEL HAS GOOD SUPPORT NEAR 303-304 RANGE

IF ANY1 WISH TO BUY NEAR THOSE LEVELS MAY 

KEEP SL BELOW 292

TRGTS 312-318-323

all targets done in tata steel

may test 333 soon

NIFTY VIEWS FOR MAY SERIES

TRADING RANGE FOR NEXT 2 WEEKS(FROM 6TH MAY TO 17TH MAY) IS 6091-5884 NS LEVELS

START ACCUMULATING SHORTS FROM 6070 NS TO 6090 NS RANGE  IN  NEXT WEEK

SL ABV 6140NS

TRGTS  MAY BE 5840 THIS SERIES(AND THAT MAY BE THE LOW OF THIS SERIES ALSO) IN WEEK STARTING FROM 20TH MAY

VIEWS FOR NEXT WEEK

MONDAY:MAY OPEN WITH SMALL GAPUP AND EXPECTING A GOOD  GREEN DAY WITH CLOSE NEAR DAYS HIGH,INTRADAY TRADING RANGE MAY BE 80-85 POINTS

5DEMA SHALL BE LONGS SL ON CLOSING BASIS AS OF NOW ITS 5929

TUESDAY:MAY OPEN WITH SMALL GAPUP AND THEN MAY SEE SHARP DIP  INTRADAY BUT WILL RECOVER ALL THE LOSSES BEFORE CLOSE AND MAY CLOSE NEAR MONDAYS CLOSE AGAIN ,INTRADAY RANGE MAY BE 70-75 POINTS

TUESDAY HIGHS MAY BE 10PTS MORE THAN MONDAYS HIGH

WEDNESDAY:AGAIN NEAR SAME TRADING RANGE OF 70-75 POINTS AS TUESDAY BUT WEDNESDAY HIGHS MAY BE 10-15 PTS MORE THAN TUESDAY HIGH BUT CLOSING SHALL BE BELOW TUESDAYS  CLOSE

NIFTY VIEWS

SELL NIFTY NEAR 6090-95 RANGE WITH SL ABV 6140

TRGTS 5950-5790

THOSE WILLING TO TAKE RISK MAY BUY SOME 5900/6000 PUTS NEAR  6040+ LEVELS AND IF NS MOVES UP TOWARDS 6090 THEN SELL IN FUTURES AS THERE IS POSSIBILITY THAT NIFTY MAY SHOW REVERSAL FROM 6040  LEVELS ALSO