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EARNING WAVE

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Trade recommendations based onTechnical Analysis and "The ELLIOTT WAVE PRINCIPLE" from SEBI Registered Research Analyst.

Technical Analysis is applied social psychology. It aims to recognize trends and changes in crowd behavior in order to make intelligent trading decisions. We believe that by recognizing current Chart pattern and identifying balance of power between bulls and bears, we can anticipate next direction. we can convert this information into profits with minimum amount of risk.

Nifty update for 22nd January, 2018

Friday Nifty and Banknifty bounced from day low and attempted final push towards resistance trendline. Nifty in throw over zone and formed negative divergence so it is highly vulnerable at this point of time. any time it can reverse again and come down below its throw over line. Below 10795 it can continue down. Upside resistance around 10900-10935-10940. Banknifty needs to hold above 26400 level to move higher but Negative divergence in broad indices posing threat to ongoing bounce. Even though nifty marked all time high, Sectoral indices like Metals, Realty, FMCG, AUTO ETC stayed below their highs. This is clearly indicating that this is not broadbased rally, only few stocks participating in this rally which is not going to sustain for longer period can be fizzle out soon. Midcaps, smallcaps, and sectoral indices closed flat at lower levels and likely to continue their downside journey. Hence, i am expecting huge volatility today with downside bias. Avoid taking fresh long positions.

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Nifty update for 19th January, 2018

Throw over Failed in Nifty charts. What's Next???

Yesterday, Nifty and Banknifty attempted and failed "throw over" a technical term as per Elliottwave, occurs at final stage of reversal. Both indices opened huge gap up but failed to hold higher levels, in last hour of trade, major indices witnessed sharp selloff at higher levels and came back to normal zone. Hence, i am considering that throw over done and Downside momentum resumes from current levels. In bullish case, indices need to cross yesterday's higher levels. But technically, after considering technical indicator parameters, its highly impossible at this point of time. Midcaps, smallcaps, and sectoral indices witnessed selling pressure and continued their downside journey. Hence, i am not expecting any meaningful bounce today. Today, nifty going to breakdown 10723-10666 support zone. Below 10666, we can get final confirmation of trend reversal. avoid taking fresh long positions.

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Investment Recommendations given in TV5 Money Live

COAL INDIA LTD

Date: 12-1-2018
Buy initiated around 308 for targets of 360/400 for Medium Term investment (for 6 month duration). Stoploss 260.

Cadila Health Care

Date: 21-12-2017
Buy initiated around 425 for targets of 460/520/545 for Medium Term investment (for 4-6 month duration). Stoploss 400.

Wockhardt

Date: 21-12-2017
Buy initiated around 840 for the targets of 1065-1100 for Medium Term Investment( for 4-6month duration). Stoploss 700.

Fortis

Date: 22-12-2017
Buy initiated around 143. Target 170/193 for Medium Term Investment( for 4-6 months duration). Stoploss 126.

Lupin

Date: 27-12-2017
Buy initiate around 880 for target of 1277 for Medium Term Investment(for 4-6month duration) Stoploss 800.

Sun Pharma

Date: 27-12-2017
Buy Initiated around 575 for target of 724 for Medium Term Investment (4-6months duration). Stoploss 470.

MANAPPURAM FINANCE LTD

Date: 01-01-2018
Buy Initiated around 123 for target of 169 for Medium Term Investment (4-6months duration). Stoploss 90

ADVANCED ENZYME TECHNOLOGIES LTD

Date: 02-01-2018
Buy Initiated around 308 for target of 575-625 for ONE YEAR TIME HORIZON Investment . Stoploss 235

Nifty update for 18th January, 2018

Throw over in Nifty charts. Don't be greedy at this point.

Nifty attempted "throw over" a technical term as per Elliottwave, occurs at final stage of reversal, happend yesterday. Banknifty which was laggard in touching upper resistance line , finally touched upper resistance trendline yesterday. Today, nifty has resistance around 10825-10850. Avoid getting too greedy at this point, as any time strong reversal can occur as majority of indicators showing negative divergence. My strong opinion that book profits in long positions and avoid fresh investments is good for traders/investors even good for mutual fund investors. Be prepared for sudden reversal which can happen today or tomorrow. Nifty can give confirmation of trend reversal by closing below10666. Sectoral indices also indicating top reversal. Nifty has given enough warning signals. Bulls be alert. Do not be greedy at current levels.

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Nifty update for 17th January, 2018

After Dragon Fly Doji, "SHOOTING STAR", Yesterday formed "BEARISH ENGULFING" ARE WE REACHED TOP?. Bulls Be Cautious.

After Friday's " Dragon Fly doji" and Monday's " SHOOTING STAR" formation, Yesterday nifty formed "BEARISH ENGULFING". This is in support of top reversal formations. Giving strong warning to Bulls that probably we reached upper resistance zone and its hard to move up further. Nifty has filled gap between 10690-10720. Today, next key level to watch is 10597. Closing below this levels means , we got confirmation of trend reversal and this selloff to continue further in coming days. Banknifty also formed bearish candle"DARK CLOUD COVER". Today key support level to watch is 25700, closing below this support means, Banknifty has reversed its trend. Most of the sectoral indices showing trend reversal patterns at higher levels and indicating that market wants to come down further. Hence, Investors/ Traders be cautious on holding long positions. Wherever possible book profits and keep stoploss order to protect long positions. India Vix also rising means high volatility to see from current levels. Be prepared for sudden selloff as market at high levels. Based on the present technical indicators, Personally in my view , today we may witness trend reversal by closing below 10600. next resistance at 10790-10816. next key support at 10500. Hence, longholders keep strict stoploss orders to long positions.

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Nifty update for 16th January, 2018

After Dragon Fly Doji, Yesterday formed "SHOOTING STAR", ARE WE REACHED TOP?. Bulls Be Cautious.

On Friday, nifty formed Dragon Fly doji and Yesterday formed " SHOOTING STAR" formation. Both candles giving strong warning to Bulls that probably we reached upper resistance zone and its hard to move up further. Nifty has made gap between 10690-10720. Today, close below this gap area gives confirmation of possible trend reversal. Banknifty too made all time high yesterday. Most of the sectoral indices showing weakness at higher levels and indicating their weakness to move higher from current levels. Hence, Investors/ Traders be cautious on holding long positions. Wherever possible book profits and keep stoploss order to protect long positions. India Vix also rising means high volatility to see from current levels. Be prepared for sudden selloff as market at high levels. Based on the present technical indicators, Personally in my view , today we may witness trend reversal by closing below 10690. next resistance at 10790-10816. next key support at 10610-10592. Hence, longholders keep strict stoploss orders to long positions.

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Nifty update for 15th January, 2018

Dragon Fly Doji at Resistance indicating Strong Reversal of Trend. Bulls Be Cautious.

On Friday, nifty opened higher than last three days high at 10682 and marked all time high at 10690 and from there it witnessed sharp fall to 100 points lower from day high. At closing again moved higher from 10592 to 10682. This momentum made" DRAGON FLY DOJI", A STRONG REVERSAL CANDLE , indicating that possible trend reversal today. To negate this candle , nifty must close above 10690 today. in other case any close below 10592 would confirm trend reversal.
From last three days nifty formed Hanging man pattern in 3 days and 4th day formed Dragon fly doji, Technically this is indicating bulls last their sense of direction. Personally in my view , today we may witness trend reversal by closing below 10592. Above 10690, next resistance at 10712-10720. next key support at 10520. Hence, longholders keep strict stoploss orders to long positions.

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Nifty update for 12th January, 2018

Hanging man at top.

Hanging man pattern in 3 days in a row. Indication of market looking for a major trigger to move forward. Only a big positive trigger can take nifty upward or else one negative trigger can leads to selloff from current levels. Today, INFY Results may trigger next direction in market. Technically, hourly charts indicating selling mode and daily charts showing overbought signals. Altogether, Unless nifty gets a strong positive trigger, next direction would be selloff towards 10520-10500. Resistance remains at 10660-10680. Midcap and Smallcap indices too moved flat but entered into sellmode. Hence, longholders keep strict stoploss orders to long positions. Today last day of the week , close anywhere below 10600 can confirm trend reversal for this week and can see more selloff in next week. Hence, today's key levels for Bulls is at 10600-10592 spot. Time Cycle indicating top reversal in this week. Fresh investments not advisable at current levels.

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Nifty update for 11th January, 2018

Hanging Man pattern working well. Upmove halted.

Hanging man pattern worked well and upmove halted in Nifty Banknifty Midcap50 and Smallcap Indices. All these indices confluencing in indicating that market correction in short term. 10660-10680 acting as stiff resistance and 10600 support breached intraday. Today nifty may heading towards 10545-10511. Yesterday's bounce from 10592 to 10640 can be treated as "BULL TRAP". Technical Indicators turned into sell mode. Hence today I am expecting significant correction in Market. One close below 10545 can indicate TREND REVERSAL and Bear can get more strength to drag index down. Hence, longholders keep strict stoploss orders to long positions. Time Cycle indicating top reversal in this week. Fresh investments not advisable at current levels.

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Nifty update for 10th January, 2018

Bounce in nifty halted. Is Trend reversed???

Nifty opened gap up and moved up to 10659. There it faced selling pressure and corrected to 10607. Around 10603 it found temporary buying support and closed at 10637. In daily charts, it formed 'hanging man candle', a symbolic indication of possible fullstop to ongoing upmove. Technical indicators also confirming this. On that basis, we can conclude that the bounce which begun from 10400 has reached its resistance zone and trend reversal is possible from current levels. Today we need to get confirmation by closing below 10600. Banknifty and Midcap index too formed top reversal candles in daily charts. Sensex too formed DOJI Pattern. Hence, all these indices correlating and indicating that market reached upper resistance zone and trend reversal is imminent. Only thing required is "confirmation of trend reversal", which we can get by today's closing below yesterday's low level.
Resistance at 10660-10680. Immediate support at 10600/10585/10500. One close below 10600 can indicate TREND REVERSAL and Bear can strike again to drag index down. Hence, longholders keep strict stoploss orders to long positions. Time Cycle indicating top reversal in this week. Fresh investments not advisable at current levels.

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Nifty update for 9th January, 2018

Nifty @ all time High. keep Stoploss Orders to Long positions.

Nifty opened gap up and moved up to 10631 closed at 10623. Nifty closed on edge of support trendline. One negative close can put full stop to ongoing bounce. As mentioned in last update, Negative Divergence formed in technical indicators and this can put pressure on trend reversal. Resistance at 10660-10680. Immediate support at 10600/10585/10500. One close below 10600 can indicate exhaustion of Bulls and Bear can strike again to drag index down. Hence, longholders keep strict stoploss orders to long positions. Banknifty too closed on the edge of support line. another negative close can confirm trend reversal. Resistance for banknifty at 25800. support at 25600 below this next key support at 25480. Time Cycle indicating top reversal in this week. Fresh investments not advisable at current levels.

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Nifty update for 8th January, 2018

Nifty @ all time High. Bulls be alert.

Friday Nifty marked all time high at 10566 and closed at 10558. By looking at various sectoral indices, investores/traders preferred to book profits at higher levels. Negative Divergence formed in technical indicators. In Nifty too Technical indicators showing negative divergence. Its possible to reverse at higher levels.Resistance at 10585-10609. Breaking and close below this 10500-10485 range means top reversal and downside momentum continues towards 10320. Time Cycle indicating top reversal in this week. Hence , keep strict stop loss to long positions. Fresh investments not advisable at current levels. Nifty options data indicating that 10600 stiff resistance.10300 is key support.Technically trend is weak.

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Nifty update for 5th January, 2018

Bulls attempted to take nifty above 10500 by holding 10400 support level. Nifty closed slightly above 10500 at 10504.
Are Bulls able to hold this level today also? not sure. Yesterday's bounce consists of 3 minor waves, as per ElliottWave, 3 waves are of counter trend nature. Hence, i believe that bounce from 10406 is counter trend move.
Technical indicators also not supporting this bounce, hence this bounce possibly short lived and can face selling pressure at higher levels.
Resistance remain at 10555-10600
As long as nifty trades below this 10555 range, downside momentum continues towards 10320.
Technically trend is weak.
Midcap50 index too in weak trend and may face selling pressure and likely to continue in downside.
Above 10555, nifty has stiff resistance at 10600. Technically SELL ON RISE market.

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Nifty update for 4th January, 2018

Bulls failed to take nifty higher even after opening gap up at 10482 nifty faced selling pressure again at 10503. From there most of the day traded below it and at closing bears dragged nifty down to 10429 before closing at flat at 10443.
One thing has cleared that Bulls lost 10495-10500 zone and today they may fight for 10409-10427 support level to hold.
On breaking this 10400 support, Bears can increase their selling pressure and can drag nifty further to 10353-10320 zone.
Resistance remain at 10495-10518
As long as nifty trades below this 10495-10500 range, downside momentum continues towards 10320.
Technically trend is weak and Bears controlling market.
Banknifty too traded weak and closed below key support 25350. Next key support for banknifty at 25245 and 25085.
Midcap50 index too faced selling pressure and likely to continue in downside today also.
To move upward, Bulls need to take nifty above 10500 level. Until that happens, down momentum continues.

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Nifty update for 3rd January, 2018

Yesterday nifty opened gap up and tested 10495. From there faced selling pressure and fall down to 10409. After that Wholeday traded in narrow range and closed flat at 10442.
Two day’s in a row nifty closed below key support 10495. Now this support become resistance for nifty.
As long as nifty trades below this 10495-10500 range, downside momentum continues towards 10325. Technically trend is weak and Bears controlling market.
Banknifty too traded weak and closed below key support 25350. Next key support for banknifty at 25245 and 25085. Midcap50 index too faced selling pressure and likely to continue in downside today also.
To move upward, Bulls need to take nifty above 10500 level. Until that happens, down momentum continues. Today’s closing is important to get next direction. Keep an eye on today’s closing level.

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Nifty update for 2nd January, 2018

On First day of New year markets closed with negative note. Nifty opened at 10532 and most of the day traded between 10519-10539 range and in last hour it broken this range and fall down to 10427 as mentioned in yesterday's update. Now, nifty broken crucial support level 10492, today its heading towards 10372-10320 zone. Major resistance remains at 10555-10585. Close below 10372 nifty can confirm that top is in place and its heading towards 10275. Banknifty too closed weak below its key level of 25322. Today it can head towards 25245- 25085. Resistance for Banknifty at 25680. Banknifty still weaker than nifty and can put pressure on nifty on downside. Advance Decline Ratio favoring Bears. Technically Sell on Rise market.

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Nifty update for 1st January, 2018

Wish you Happy New Year 2018

On Friday, Nifty opened at 10492 traded whole day in positive zone and closed at 10530. Still below the all time high point of 10552. Nifty formed wedge pattern from 10372 to 10552 which results in bearish outcome soon. Today 10485 spot acts as crucial support level, trading below this level means nifty heading towards 10427 and 10373. Resistance at 10552-10585. Close below 10427 gives more strength to Bears. Banknifty too closed in green just above crucial level of 25512. Today breaking this level means its heading towards next key levels of 25322-25245. Resistance for Banknifty at 25680. Banknifty still weaker than nifty and can put pressure on nifty on downside. Technically Sell on Rise market.

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Nifty update for 29th December, 2017

Yesterday Bulls tried hard to take nifty higher but failed at 10533 and from there selling pressure dragged nifty down to 10463 before closing at 10477. As mentioned in yesterday's update, Finally nifty brokedown 10480 and closed below it. As long as nifty trades below 10550 this down momentum to continue further towards 10427-10373-10325. Weekly close below 10427 gives more strength to Bears. Banknifty too closed below its crucial level of 25512 for 2nd consecutive day. Next key levels for banknifty at 25375-25245. Banknifty still weaker than nifty and puts pressure on nifty on downside. Advance Decline ratio supporting bears. Today also this downside momentum likely to continue. Midcap50 index likely to face selling pressure. Technically Sell on Rise market.

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Nifty update for 28th December, 2017

Yesterday nifty faced selling pressure at 10550 and corrected to 10469 before closing at 10490. This correction is expected in yesterday's update. Finally, nifty brokedown 10480 spot indicating that negative divergence is showing its impact. Nifty likely to correct up to 10380-10372 level today. Due to Futures and Options Settlement, we may witness huge volatility in nifty as well as banknifty index. Advance Declines Ratio favoring Bears. Last hope for Bulls support is at 10427 below that Bears get more strength and can drag nifty down to 10372. Resistance at 10545-10583 for today. Key support level to watch remains at 10427, below this level 10372 spot is crucial. Fresh Investments not advisable at this level. As mentioned yesterday, Bank nifty faced huge selling pressure and dragged nifty down. As banknifty closed below our crucial level of25512, this correction may continue till 25247-25083. Weakness in Banknifty can put pressure on Nifty to downward. Unless nifty crosses 10545 , downside momentum continues. Technically Sell on Rise market.

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Nifty update for 27th December, 2017

Yesterday, Nifty opened gap up at 10512 and traded most of time below 10480 and at the closing witnessed small bounce to 10545 before closing at 10531. As mentioned in last update, negative divergence in technical indicators clearly indicating that on going minor bounce not going to sustain at higher levels. Today nifty resistance at 10545-10583 range. Nothing changed in technical indicators. No strength in momentum. All these technical parameters indicating that market in final mature stage and medium term trend can turn into bearish any time soon. Hence its advisable to book profits in long positions, if any and be ready for market correction. Today key level to watch 10480, close below this level means this on going minor bounce ended and medium term correction to begin from current levels. Bank nifty too in similar pattern. No major changes in technical parameters and can witness correction. Key level to wacth 25512 spot. Once this support breaksdown then more selling pressure can drag banknifty till 25386-25252. Weakness in Banknifty can put pressure on Nifty to downward.

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Nifty update for 26th December, 2017

Friday, nifty opened gap up and traded whole day above 10444 and attempted to breakout 10500 and closed at 10493. In Technical Charts, negative divergence formation not giving full support to Bulls. Even though nifty touched new all time high on Friday, sustaining at higher level is question mark here. Resistance at 10500-10545 for today. Key support level to watch remains at 10444, below this level 10380 spot is crucial. FnO settlement and year end celebrations this week may result limited upside and lack of followup buying at higher levels. Fresh Investments not advisable at this cross road. Need to wait till market takes conclusive direction. Bank nifty too traded in narrow range. Today 25520 spot crucial support for Banknifty. Once this support breaksdown then more selling pressure can drag banknifty till 25386-25252. Weakness in Banknifty can put pressure on Nifty to downward. Unless nifty crosses 10500, downside momentum continues. Till then avoid taking fresh long positions. Technically Sell on Rise market.

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Nifty update for 22 December, 2017

Yesterday, Nifty traded in narrow range between 10473-10428 and closed at 10440. It appears that bulls lossing strength and Bears controling market. Unless nifty opens gap up above 10500 level, nifty today also likely to face selling pressure and moves lower towards 10380 and 10325. As mentioned yesterday, close below 10380 gives more strength to Bears. Today Bulls need to hold 10380 spot level to move upward. 10490-10500 remains strong resistance for Nifty. Bank nifty too traded in narrow range. Today 25520 spot crucial support for Banknifty. Once this support breaksdown then more selling pressure can drag banknifty till 25386-25252. Weakness in Banknifty can put pressure on Nifty to downward. Unless nifty crosses 10500, downside momentum continues. Till then avoid taking fresh long positions. Technically Sell on Rise market.

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Nifty update for 22 December, 2017

Yesterday, Nifty traded in narrow range between 10473-10428 and closed at 10440. It appears that bulls lossing strength and Bears controling market. Unless nifty opens gap up above 10500 level, nifty today also likely to face selling pressure and moves lower towards 10380 and 10325. As mentioned yesterday, close below 10380 gives more strength to Bears. Today Bulls need to hold 10380 spot level to move upward. 10490-10500 remains strong resistance for Nifty. Bank nifty too traded in narrow range. Today 25520 spot crucial support for Banknifty. Once this support breaksdown then more selling pressure can drag banknifty till 25386-25252. Weakness in Banknifty can put pressure on Nifty to downward. Unless nifty crosses 10500, downside momentum continues. Till then avoid taking fresh long positions. Technically Sell on Rise market.
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Nifty update for 21st December, 2017

Bearish Belt-hold in nifty.

As mentioned in last update, Nifty faced resistance at 10490 level and profit booking dragged nifty down to 10443 level. Bearish Belt hold pattern formed in daily charts, this is indicating that investor sentiment turned bearish at higher levels. Nifty can test 10345 level from here and close below 10345 further indicates that counter wave completed at 10490 and nifty downtrend resumes towards 10240-10142 in coming sessions. Hence, fresh long positions not advisable. short term traders can initiate fresh short positions with stoploss of 10500 spot. Incase, nifty crosses 10500 spot level, close short positions in nifty. Resistance at 10490-10500. Supports 10345-10240-10142. Banknifty much weaker than Nifty. Below 25520 spot, banknifty can continue fall towards 25386-25252. Bulls last hope 10345 level. Below this level, Bears can get more strength to drag nifty lower. Sell on rally market.
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Nifty update for 20th December, 2017

Are we heading for Correction?

Yesterday, Nifty surpassed previous high of 10444 and closed higher at 10463. Day high at 10472. Nifty did not cross 10490 recent high. Bank nifty too failed to cross recent high of 25953. By looking at this scenario, counter trend move from 10033 appears to be completed and Profit booking expecting at current levels. Unless nifty close above 10500 spot level, trend is down towards 10141-10033. Hence, fresh buying advisable only close above 10500. Trading below 10490 means nifty can face selling pressure and correct towards 10345-10320. Strong close below 10345 spot level can confirm that nifty heading towards 10141-10033. Hence, 10500-10345 range crucial for today to get confirmation on next move. Till then avoid taking fresh long positions. Technically Sell on Rise market. Banknifty more weaker than Nifty. .
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Nifty update for 19th December, 2017

High wave Candle-Indecision among Bulls and Bears

Yesterday, Nifty witnessed huge volatility as expected. Moved between 10074 to 10444 range. Almost achieved my 10056 target on downside. In daily charts, "High Wave Candle" formed which indicates indecision among Bulls and Bears regarding next move. Market to consolidate today with negative bias. Profit booking expecting at higher levels. Technically Sell on Rise market. Key level to watch today is 10345-10335 where nifty breakout yesterday. Closing below this 10345 level means its false breakout and head towards lower level of the range which is again at 10075-10030. Banknifty too witnessed huge volatility. Banknifty more weaker than Nifty. Bulls keep watch 10345 level. Below this level, Bears can initiate fresh short positions for lower level 10265-10145. Resistance around 10444-10490 spot. .
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Nifty update for 18th December, 2017

High Volatility due to Election results

Nifty exactly closed below the resistance line as shown in chart. Today high volatility expecting due to Election result counting. We can witness huge fluctuations in market. Technically, Sell on rise market. Key level on downside is 10140 spot level, below this level nifty likely to heading towards 10000. ON the upside 10348-10460 is resistance zone. Banknifty technically weak. Market discounted exit poll's BJP winning chances in election, Negative surprise can drag market down to below 10000. Investors and traders must be alert today.
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Nifty update for 15th December, 2017

Sell on every rally

Yesterday, Nifty tested 10142 spot and from there bounced higher to 10252. Technically major trend is still in downside but in short term we likely to see high volatility in market. Crucial resistance at 10328-10345. Nifty faces heavy resistance here. Every bounce faces selling pressure. Key point to note that, US markets appears to completed upmove and major trend can reverse to downside from current levels. Obviously it leads World Markets to downside. Traders better to prepare for huge volatility as VIX rised to 16.40. In Bear market sharp fall and sharp rise are common characteristics. Positional Downside targets remain intact at 10056-9945. Resistance around 10328-10345 spot. .
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Nifty update for 14th December, 2017

As mentioned in last update, Nifty closed gap area between 10197-10174 yesterday. Bears utilizing every bounce for short selling. I am reiterating this from past few days. Same thing happend yesterday too. Today, watch 10170 spot, staying below this level means nifty heading towards our projected levels 10119-10050. Recent high of 10326 acts as medium term top. As per my last update short position intiated in nifty below 10216 spot for 10121-10060 spot levels. Short traders can cover shorts at 10121 spot. Banknifty showing more weakness than nifty. Nifty Resistance around 10328-10345 spot. METALS, REALTY AND MIDCAP50 WEAK TODAY.
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Nifty update for 13th December, 2017

From past two days i suggested to build short positions in nifty with stoploss of 10328-10345 spot levels, for lower targets of 10121-10030. Nifty exactly reversed to lower yesterday. Evening Star formation formed in Nifty and Banknifty indices which is confirmed top reversal formation. This fall to continue further today also. Next immediate levels to watch are 10197-10174 gap area. Close below this gap area means, 10326 acts as medium term top and nifty again going to test recent low of 10036. Banknifty formed Evening Doji Star, which is more powerful Bearish reversal pattern than Nifty. Today, traders can initiate fresh short positions below 10216 spot for 10121-10060-10036 targets. Resistance around 10328-10345 spot. METALS, REALTY AND MIDCAP50 TOO TO TRADE WEAK TODAY.
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Nifty update for 12th December, 2017

Nifty and Bank Nifty both almost completed counter trend moves.

Bulls be alert!
Nifty and Banknifty both indices almost completed counter trend moves. From here, any time both indices can face huge selling pressure and resume downtrend. Next targets are recent lows of 10121-10030 and 24800 respectively. Utilize this bouce to build short positions. Resistance at 10328-10345.

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Nifty update for 11th December, 2017

As mentioned in last update, Nifty and Banknifty both indices almost completed counter trend moves. From here, any time both indices can face huge selling pressure and resume downtrend. On breaking 10216 spot level, traders can start build short positions in Nifty for lower targets 10121-10060-10036. Resistance around 10328-10345 spot. Utilize this bounce to exit long positions and build short positions.METALS AND MIDCAP50 TOO TO TRADE WEAK TODAY.
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Nifty update for 8th December, 2017

Nifty and Bank Nifty both almost completed counter trend moves.

Bulls be alert!
Nifty and Banknifty both indices almost completed counter trend moves. From here, any time both indices can face huge selling pressure and resume downtrend. Next targets are recent lows of 10030 and 24800 respectively. Utilize this bouce to build short positions.

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Nifty Mid-day update :7th December, 2017

Nifty achieved my 10151 target in nifty today. Banknifty not bounced as expected. Today, nifty must close above 10147 spot. Incase, it failed to close above this level, then fresh selloff can be seen towards 10000-9700. As it achieved minimum retracement level, it can resume impulsive downtrend again towards sub 10000 levels. Utilize this bounce to exit long positions and Build short positions. Maximum upside for nifty is 10261-10275.

Nifty update for 6th December, 2017

Will 10000 level holds??? or Breaks 10000 and moves more downside???

Yesterday, nifty closed below the low of the DOJI. Its the first warning to bulls that there is more downside ahead. Yesterday I was expected minor counter wave to 10151-10181 levels but Nifty broken 10069 and marked new day low at 10033.
In hourly charts, there is positive divergence which indicating that minor bounce is possible to 10151-10181 range. TRADERS CAN TAKE LONGS WITH YESTERDAY'S LOW AS STOPLOSS FOR MINOR BOUNCE. ON BREAKING YESTERDAY'S LOW, CLOSE LONG POSITIONS. In daily charts, no such divergence hence, keep watch on 10033-10000 zone as last hope for bulls. Below which we can expect much lower levels in nifty in days ahead. Trading below 10000 level means Bears got fresh strength to drag nifty much lower levels. Below 10000 level, nifty finds minor support at 9688-9650. Banknifty too in similar pattern, 24800 acts as key support for banknifty, trading below this level means bears can drag this index to 24250 in coming sessions. METALS, PHARMA, MIDCAP50 TOO BEARISH. Trading on last support line. Breaking yesterday's low means these sectors too heading much lowerside in coming sessions. Hence, BULLS BE ALERT. MAJOR TREND TURNED DOWN. ANY BOUNCE CAN BE SHORT LIVED AND UTILIZE EVERY RISE TO BUILD POSITIONAL SHORT POSITTIONS.

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Nifty Mid-day update :6th December, 2017

Nifty almost achieved my 10045 target in nifty today. today low 10051. One leg of selloff from 10400 to 10051 done. Now, minor counter wave as mentioned in today's morning update, begins from here towards 10151-10181. Kindly remember that, this counter wave bounce may be short life of couple of days. Use this bounce to exit long positions.

Nifty update for 6th December, 2017

IS RBI CREDIT POLICY FAVORS BULLS?? OR BEARS??

Yesterday, nifty formed DOJI pattern. Indecision among bulls and bears as today important event of RBI CREDIT POLICY. Will it favors bulls or Bears?
Technically, nifty in minor counter wave pattern which can give max upside to 10155-10175. Yesterday high was 10145, so there is one more attempt to 10155-10175 is possible. This is only one possibility, not necessary. Technically, nifty heading towards 9945 and lower. Hence, utilize every bounce to build short positions. Banknifty can bounce maximum to 25271, from there it may face selling pressure again to sub 25000 levels again. Technically Bears have upperhand over Bulls.

nifty

ALERT!!! BABY "BEAR" BORN IN NIFTY

BULLS BE ALERT. BABY BEAR BORN IN NIFTY DAILY CHART. INVESTORS STAY ALERT ON holding long positions as Baby bear born in nifty and major large cap stocks. It indicates this ongoing fall to continue further on downside. Bulls may face difficulty in protecting 10000 levels. Bears driving the market now. Utilize every bounce to exit long positions and buildup short positions.

Nifty update for 5th December, 2017

Where is nifty heading towards???

Yesterday, fall in nifty halted temporarily at previous low 10095 level. Today, downside journey resumes again towards 10002-9945. Every minor Bounce is a short selling opportunity. Bears likely to test 10000 crucial level today. Are Bulls able to defend crucial level of 10000 today???. Technically, Bears have upper hand over Bulls. Banknifty index also broken down range. It can also witness more selling pressure today. Main trend turned down so utilize every bounce to build short positions for coming sessions. Midcap, Metals, Pharma indices Weak and likely to face selling pressure today.

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Nifty update for 4TH December, 2017

Friday, nifty faced selling pressure at 10271 and broken 10200 easily. Below 10200 level, bears dragged nifty down to 10110 and closed at 10121. Entire 15days bounce from 16th November is retraced fully in just two trading sessions by Bears. My target of 10140 achieved. Resistance at 10325-10345. Next downside targets 10024-10002-9945. From hereon Every Bounce is an opportunity to exit long positions. Minor bounce expecting around 10002-9948 levels. Short sellers can book profits between 10024-9948 range, as one minor pull back possible. Traders keep remember that minor bounce is a possibility only. Its not necessary. We need to watch market reaction at 10000 before taking any conclusive decision. Long term Investors can book profits as more downside possible in coming sessions. Short term traders can utilize every bounce for short selling. Banknifty index also broken down range. It can face huge selling pressure at current levels. Avoid taking fresh long positions in Banking stocks.

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Nifty update for 1st December, 2017

Finally, nifty faced selling pressure and achieved my targets 10261 and 10230. Nifty closed well below 8 days of rangebound level. Resistance at 10346-10395. Minor DEAD CAT BOUNCE possible till 10315-10328. From hereon Every Bounce is a selling opportunity. Investors can book profits as more downside possible in coming sessions. Short term traders can utilize every bounce for short selling. Downside targets for nifty are 10140-10094. Banknifty index also broken down range. It can also witness Deadcat bounce today. Main trend turned down so utilize every bounce to build short positions for coming sessions.

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Nifty update for 30-11-2017

As mentioned yesterday, nifty finally broken down range and closed at 10361. Finally nifty came out of 8 days sideways range and broken down so we can see heavy selling pressure today onward. Next downside targets for nifty are 10320/10260/10232. Resistance at 10424-10435.Banknifty index also broken down range. It can also witness further weakness today. IT, METAL AND MIDCAP50 indices are weak and face more selling pressure today. Short term traders can initiate short positions at 10350 spot level for targets 10261-10230. Stoploss for shorts can be placed at 10415 spot. Close below 10261 today may indicate further selling pressure in coming sessions.

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Nifty update for 29-11-2017

Nifty opened at 10386 and made day high at 10409.Selling pressure at day high dragged nifty to day low at 10355 and finally closed at 10370. In daily charts, nifty made bearish candle and favoring bears to breakdown the till 10261. On breaking down 10350 spot level, this correction drags nifty further downside to 10261-10230. Resistance at 10424-10435.Banknifty index also made bearish formation. It can also witness further weakness today. IT index, Pharma and Realty index weak today. Market still trading in range bound in wedge pattern. Nifty has to break this pattern and move down decisively towards 10261. On firm close above 10435 only nifty turns bullish in short term. Short term traders can initiate short positions below 10350 spot level for 10261-10230.

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Nifty update for 28-11-2017

Nifty opened lower at 10364 and made day high at 10405 and closed at 10399.Market still trading in range bound in wedge pattern. Nifty has to break this pattern and move down decisively towards 10261. Resistance at 10415-10425 and key support at 10320, breaking this support nifty head to 10261 first and 10230-10189 next. Wedge pattern is in upward slope, hence most probably breakout comes in form of downside. Negative divergences too confirming this kind of momentum. Long position holders maintain strict stoploss. Short term traders can initiate short positions below 10320 spot level for 10261-10230.

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Nifty update for Monday 27-11-2017

Nifty opened at 10366 and made day high at 10404 and closed at 10389.Can we take this as break out of range and move higher from here???? Technically speaking, decreasing Volume not supporting this as calling breakout. Bounce from recent low 10094 to 10404 with is backed with declining volume indicating that this bounce is short term and major down trend can resume anytime. More over, Market reaction at day high at 10404 not as it should be. Taking into all these technical points, there is possibility for downfall in market. First downside target 10320 and then 10260-10230-10189. Resistance at 10395-10414.Friday, S&P announced its stance on Rating on India as status Quo.Today, we may see its impact on Market.

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Nifty update for FRIDAY 24-November-2017

BLACK FRIDAY OR ANOTHER FLAT FRIDAY?

Nifty formed three Doji's in a row. Huge supply coming at higher levels (10365-10374) and demand coming at 10312-10308 level. This kind of range usually breaks out by gap up or gap down openings on either side. Any breakdown of 10300 triggers huge selloff today towards 10230 and 10189 levels. On the other side, any breakout above 10375 can take nifty further high to 10395-10410. Hourly charts still in favor of Bears. Resistance at 10365-10395 zone. Advance Decline ratio 21:29 favoring Bears. Banknifty once broken down range intraday but closed inside of range. Below 25622 banknifty can fall further to 25488 and 25275. Investors keep strict stoploss. Until decisive breakout happens, Avoid taking fresh long positions.

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Nifty update for 23-November-2017

Are Bulls lost Hope?

By seeing yesterday's pattern, we can say that Bulls lost Hope. Technically, Bulls lost chance to move upward. Another day of flat trade. Whole day traded below resistance zone. This is indicating that 10350-10365 zone is strong resistance for short term. From here, Nifty to head towards 10261-10248 zone first. Resistance at 10350-10365-10395 zone. Below 10315 spot, traders can initiate short positions with 10350 stoploss for lower targets 10248-10189. Advance Decline ratio 23:27 favoring Bears. METALS, REALTY, PHARMA SECTORS WEAK TODAY.Banknifty trading rangebound from past four days, today it likely to break this range downward and put pressure on Nifty. Investors keep strict stoploss. Avoid taking fresh long positions.

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Nifty update for 22-November-2017

Where is nifty heading?

As mentioned yesterday, Nifty traded below key resistance zone 10350-10365. Closed at 10326. technically nifty closed near opening price. This is indicating indecision between bulls and bears. Nifty formed "inverted hammer" or " shooting star" pattern at resistance level. This may result in bearish outcome in today's session. Yesterday's high and low plays key role in deciding next direction. Incase today Bulls succeed to close above yesterday's high (10357.60) then it can move further higher resistance towards 10395. On the downside, if bears succeed to close below yesterday's low 10315, then nifty declines further towards, 10262 and 10189. Resistance at 10350-10365-10395 zone. Below 10315 spot, short positions can be initiated with 10350 stoploss for lower targets 10189-10050. Hence watch 10357 and 10315 levels today for further direction.Bounce from 10095 to 10357 is in counter trend pattern, so MORE CHANCES FOR this counter trend move can end abruptly soon and downfall continues soon.

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Nifty update for 21-November-2017

Nifty moved in completely range bound yesterday between 10261-10309 and closed below 10300 level. Pattern-wise counter trend move. Yesterday's candle indicating indecision among bulls and bears. Decisive move needed to break out this range for next direction. Pattern wise, nifty can drift to minimum 10226. As mentioned yesterday, close below 10246 level drags nifty further downside. Only close above 10350-10365 bulls may get active again. Hence, today's market action is key to next direction. Technically, market in favor of Bears. Close below 10246 today would confirm this. Today watch 10246 spot level, below this level nifty heads towards next key level 10189. Resistance at 10350-10365 zone. Below 10261, short positions can be initiated with 10350 stoploss for lower targets 10189-10050.

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Nifty update for 20-November-2017

Nifty completed 61.8% retracement around 10339 and Closed below 10292 as indicated on Friday. This is indicating that market in hurry to complete counter wave and preparing to resume downward journey again towards 10246 and 10189. Bank Nifty and other sectoral indices are in similar pattern. Bulls unable to cross 10350-10365 resistance on Friday, failed to utilize the gap up opening and closed below key support level of 10292. Clearly showing Bear grip on Bulls. Today watch 10246 spot level, below this level nifty heads towards next key level 10189. Nifty has gap between 10232-10268, Close below 10232 today fills the gap and this may be sign of bears grip over market and resume of downtrend. Resistance at 10350-10365 zone. supports 10246 and 10189. First sign of reversal may be filling the gap.Avoid fresh long positions.

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Nifty update for After gap up Open. 17-November-2017

Nifty completed 61.8% retracement around 10339 and Banknifty at the end of Wave E. Both indicating next direction towards downside. First sign of reversal may be filling the gap.

Nifty update for 17-November-2017

Nifty Opened with gap up and moved higher to 10230 before closing at 10214. Fresh shorts adviced for next lower targets 9970-9850 in coming sessions. As shown in chart, Nifty formed minor counter wave as wave 4 of 1. From here, it can move lower towards 10094 and then 9970. ON the upside Wave 1 low of 10267 would be first resistance. Today key level to watch on downside is 10094 recent low. breaking this low level means nifty resumed downfall and head towards 9970. Hence, 10267 and 10094 is the range to observe today. Other indices too in similar pattern.Its not at all a time to jump in for fresh long positions. Need to wait for clear signal.

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Nifty update Mid-day for 16-November-2017

Nifty in minor counter wave which has fulfilled at around 10200. Its giving good opportunity for short selling for next lower targets 9950-9850 coming sessions.

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