Nifty Analysis, Outlook and Trend for 13th Dec 2019

Medium Term Trend:  ↑ UP (Changes to down below 11550)

Building Strength: Nifty opened positive around 11945 levels and went on to touch 12K levels before some profit booking pulled it back slightly to 11960 levels. It closed at 11970 ( up 60 points).

In last update we had mentioned that " the way Nifty is trading , its likely that current correction is stretched a bit more but the overall trend remains on the upside and market could finish the correction anytime and at any level and start moving up".

However markets took support yesterday around 11850 and once again started moving up. When markets broke below 11850 it had given a clear positive divergences on the hourly chart which suggested that the end of this correction is probably near. That was a good enough indication to cover all the shorts ( thats exactly what we did). Markets indeed jumped from that levels and has given a followup buying today which is a strong indication that the correction is over and nifty is probably all set to touch higher level once again.

Overall if we see, the open interest in NF is abysmally low @1.4 crores and as per our observations no major/serious correction is witnessed when OI in NF is low . Apart from that we also witnessed one strong positive divergences on hourly charts which suggested a reversal on the cards. All these things are suggesting that Nifty is likely to touch higher levels ( 12100-12200-12300).

In Nutshell, overall trend of Nifty was always up and now it seems that the correction which started from 12150 levels got over yesterday and Nifty has opened a fresh move on the upside which can go on to touch 12200-12300 (even higher levels). However if Nifty start moving down again and start trading below 11900 levels then it would raise serious question mark about the sustainability of this rally so one needs to be careful if Nifty breaks below 11900 levels.

We keep guiding our subscribers as what needs to be done during live trading hours through regular whatsapp updates. To join us pls follow below link /drop an email to rahulrtn412@yahoo.com or whatsapp @ 9319321906 

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Nifty Trade Performance Summary

Nifty Trade Detail/Summary- Aug'2019 onwards

Note: all trades are genuine with precise entry/exit points provided. You may ref to below link for exact messages.

http://niftywaveindia.blogspot.com/search/label/Nifty%20Trades%20detail%2Fchat%20excerpts

Nifty Analysis, Outlook and Trend for 11th Dec 2019

Medium Term Trend:  ↑ UP (Changes to down below 11500)

Drifting Down: Nifty opened around 11900 and after trading around same level for most part of the day, it closed at 11860 levels. Down 70 points.

Once Nifty broke below 12K levels couple of days back, the probability of Nifty extending the corrective or sideways move, increased a little bit. We had mentioned that if 12075 is broken then 11850-11900 can be tested again. Today Nifty has closed around 11850 levels.

Now that we have closed around 11850 the chances of this correction extending a bit more from here is increased.Further weakness from here is likely to push Nifty further down to 11750-11700 levels. The fall we have seen from the highs of 12150 levels is too slow and marked with overlapping waves which is a clear sign of a corrective wave. Once this correction gets over ( and it can get over at anytime and at any level) Nifty will rise to hit a new high above 12100 levels. However it doesnt mean that we cannot fall lower from here. Nifty can still fall a bit more from here and drop to 11700-11750 levels and if that level fails to hold, a drop to 11500 levels is very much possible too.Nifty needs to close above 11950 levels to indicate that the correction move is ending/about to end.

In nutshell, the overall trend of the market remains up and the current move we are seeing is just a corrective move ( till now) which can extend even more from here ( till 11700 and below that 11500 levels) but once the correction is over the reversal could be very sharp which wouldtake most by surprise and trapping bears on the wrong side. So incase you are holding short positions then keep a very tight stoploss.reversal from here (or from lower levels) could be pretty sharp.

We keep guiding our subscribers as what needs to be done during live trading hours through regular whatsapp updates. To join us pls follow below link or pls drop an email to rahulrtn412@yahoo.com or whatsapp @ 9319321906 

http://niftywaveindia.blogspot.com/search/label/Announcement-Join%20us

Happy Trading

Nifty Analysis, Outlook and Trend for 09th Dec 2019

Medium Term Trend:  ↑ UP (Changes to down below 11500)

 Break Down: Nifty opened flat but quickly dropped below 12k levels. Weakness continued as the trading progressed and Nifty even broke below 11900 levels. It finally settled at 11921, down 100 points .

In the previous post we had mentioned if Nifty sustains above 12050-75 levels then it can hit higher levels howevever if we see weakness below 12K levels then we can drop to 11850-11900 levels again. Once again market played out exactly in our line with our predictions and dropped to 11890 levels once 12K level failed to sustain.

Having said this, we had also mentioned that overall trend of the market remains up and even if market drops down (in most likelihood) it is going to offer an excellent buying opportunity. One need to observe this fall carefully and enter long position when the downsing matures. In last couple of days markets did indicate that its probably ready to move up however it turned out to be false move and market has again dropped lower today.

This is the 5th consecutive friday that markets have crashed and closed down,its becoming a kind of trend to close markets deep in red on Fridays.

On the way down, 11800 is likely to offer strong support infact the entire band of  11700-11800 is a strong support zone. The overall trend remains up as long as 11500 is held intact. it would be intresting to see for how long and till what point the current correction stretches. Post this correction we expect Nifty to resume its upmove.

Things will change if fall keeps extending from here and goes on to break 11500 levels ( chances of that are pretty slim though).

Happy Trading

Nifty Analysis, Outlook and Trend for 06th Dec 2019

Medium Term Trend:  ↑ UP (Changes to down below 11500)

12K sustained: Nifty opened above 12050 levels but no rate cut action from RBI pulled the markets down a little and it dropped to 12K levels. it finally closed at 12018, down 25 points.

In last update we had mentioned that even though the trend remains on the upside there is a chance that markets can drop a little from the current levels to 11850-11900 levels. Nifty indeed dropped towards 11900 yesterday but held on it and closed back above 12K levels.

Now the latest view is that since we have closed above 12K levels for 2 days there is a chance that new highs can be tested again ( those arent too far away anyways just 100-150 points from current levels). If nifty sustaines above 12050-12075 levels then its very likely that it will make a dash towards 12150-12250 levels in coming days, on the contrary if we see weakness below 12K levels then there is a chance that we go back to 11850-11900 levels once more and then make a move towards new high ( in any case we are going towards 12200).

Please keep in mind that in last few days we are seeen a  steady flow of bad news one after another ( GDP nos, no rate cut etc) but still markets are howering around 12K levels which testifies the inherent strength in the markets. 

Like we have been saying , markets remains in a uptrend so  even if we see a downfall, it could be an excellent buying opportunity. As long as the important support levels are not broken one should refrain in shorting this market.

Happy Trading!!

Nifty Analysis, Outlook and Trend for 03rd Dec 2019

Medium Term Trend:  ↑ UP (Changes to down below 11500)

Slipped from All Time Highs: Nifty opened strong at 12135 levels but quikcly droppped below 12100 levels. It made several attempts to reclaim 12100 but failed and closed flat at 12050 levels.

Market continue to move broadly in line with our prediction and on expected lines. In previous post we had mentoned:

 "the chances of reclaiming 12100 are pretty high. Its likely that Nifty can test 12200-12300 levels however from the technical perspective there is a strong chance of Nifty begining another round of correction which might bring it again towards 11900-12K levels"

Now this is exactly how markets played out last week. Nifty broke above 12100 and touched 12150 and then made a U turn and touched 12K levels again. Point to note is that market has not really broken down inspite of the bad GDP numbers which suggests that overall trend remains on the upside however inspite of that there is a likelyhood of market slipping further towards 11850-11900 levels from here. If 11850 is broken then we are looking at 11700 levels.

On the upside if 12035 is reclaimed then we can expect another shot at 12200-12250 levels. 

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Below is the chat excerpts/Trade recommendation we have shared in last few days with our clients.

15/11/2019, 10:15 -  *nifty 11928 buy 2 parts*
15/11/2019, 14:11 -  *nifty 11950 buy 2 more parts*
15/11/2019, 14:12 -  Hold all long position (4 parts)
15/11/2019, 15:20 -  Nifty 11890. Some sharp swing however doesn't matter for now
15/11/2019, 15:20 -  Carry all 4 parts long for next week
18/11/2019, 09:17 -  GM. Nifty 11930. Continue holding all longs
18/11/2019, 15:14 -  Nifty 11885. Nothing to be done for now. Carry longs for tomorrow
19/11/2019, 09:16 -  Gm. Nifty 30+ @11915. Continue holding longs
19/11/2019, 15:19 -  Nifty 11947. Carry all longs for tomorrow.

20/11/2019, 10:14 -  Nifty 12015 *Book profit 2 parts* continue holding bal 2 parts
20/11/2019, 15:17 -  Nifty 12000. Carry bal longs for tomorrow.

21/11/2019, 09:15 -  Gm. Nifty 12004. Continue with balance long position
21/11/2019, 11:45 -  Nifty trading around 11970. If it moves below 11970 and sustains then will exit remaining longs. So b on alert.
21/11/2019, 15:16 -  Nifty 11971. Holding on to 11970 support for now.
21/11/2019, 15:16 -  Carry bal long position for tomorrow.
22/11/2019, 09:16 -  Gm. Nifty 11950. If it sustains here then will exit bal long. Hold for some more time.
22/11/2019, 09:45 -  *nifty 11949 exit balance 2 parts long*
22/11/2019, 09:45 -  Position nil..
22/11/2019, 09:45 -  Wait for next trade...
22/11/2019, 10:20 -  Nifty 11916. We might see some more weakness however no shorts at this stage. will look out for opportunity to enter long again.
22/11/2019, 15:47 -  Nifty closed at 11915. Made a low of 11883. Nothing was to be done. Will wait and enter longs again at opportune time

25/11/2019, 09:26 -  Gm. Nifty 11940
25/11/2019, 09:27 -  Nothing to b done for now. Will advise if anything is to be done
25/11/2019, 12:14 -  *nifty 12010 buy 2 parts*
25/11/2019, 13:22 -  Nifty 12030.Continue with 2 part longs. Chances of market hitting a new lifetime high from here.
25/11/2019, 14:02 -  Having said that we continue to observe negative divergences so chances of one more fall, even after new all time high is achieved, is there.
25/11/2019, 15:33 -  Nifty 12075. Long to be carried for tomorrow
26/11/2019, 09:18 -  Gm *nifty 12125 book profit one part*
26/11/2019, 09:18 -  Carry bal one part long
26/11/2019, 09:30 -  2 parts long added yestersay @ 12010 profit booked one part today @ 12125
26/11/2019, 13:28 -  Nifty 12080. Continue holding bal longs. One more jump is possible from here.
26/11/2019, 13:29 -  Hold with a sl of around 12020 (just above buy price)
26/11/2019, 15:29 -  Nifty 12035. Carry bal longs for tomorrow
27/11/2019, 09:26 -  Gm. Nifty 12095. Hold balance longs
27/11/2019, 15:14 -  Nifty 12100. Carry bal long position for tomorrow
28/11/2019, 09:22 -  Gm nifty 12115. Keep holding one part long.
28/11/2019, 12:32 -  *nifty 12140 book profit remaining long position*
28/11/2019, 12:33 -  No open position. Long entered at 12010 total profit booked now

We keep guiding and advising our susbcribers during live trading hours thjrough regular whatsapp updates. To join us please follow the below link or mail to rahulrtn412@yahoo.com whatsapp:9319321906 

http://niftywaveindia.blogspot.com/2019/02/join-us-on-whatsapp-how-to-subscribe.html

Happy Trading.

Nifty Analysis, Outlook and Trend for 26th Nov 2019

Medium Term Trend:  ↑ UP (Changes to down below 11500)

Upmove resumes: Nifty opened in positive zone around 11950 levels and kept on inching  up through out the day. It closed at 12080 up a whopping 165 points.

In previous post we had mentioned a possibility of Nifty heading for an another short term correction ( since 11970 was effectively broken). However we had also mentioned that no shorts are advised at this stage and long positions should be entered once 12K is taken. 12K was taken out in the morning session itself and after that markets putup another 80 points or so.

When markets are in a uptrend its very difficult to say for how long and how deep the corrections will lasts. Correction in strong uptrend can finish even in hours if not in days.In such markes one is better off buying at every available opportunity. Now the way things are unfolding it seems markets are in for a new all time high. In any case sensex has already broken above its all time high so Nifty is likely to follow suit.

This time Nifty has moved up with a strong momentum hence the chances of reclaiming 12100 are pretty high. Its likely that Nifty can test 12200-12300 levels however from the technical perspective there is a strong chance of Nifty begining another round of correction which might bring it again towards 11900-12K levels.

There are quite a few negative divergences which are suggesting that market may not be able to go much higher immediately.However again this doesnt mean that one should be looking to go short at current or above 12100. Its very much possible that markets just runup from here. So either way market has to go up either we consolidate first or then move up or we move up straightaway. Unless 11500 is broken we dont see any possibility of any significant correction in near term.

Happy Trading!