NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,789.85 +54.40 + 0.51%
NIFTY VIEW FOR 22/02/2019
I had said that if NIFTY does not break 10583.70 , expect bullishness.Since it did not break 10583.70 and if my count is right NIFTY will touch 11000 + at the minimum.Depending on the structure it can reach higher levels of 11400 -11760.
If NIFTY breaks 10583.70, expect level below 10534.50.But in this case also NIFTY should not break 10333.80 if it is bullish.Last support for the bulls is 10004.50.
NOTE: Even if trend is up don’t expect one way up, there will be corrections on the way up.
First chart shows that NIFTY is moving in parallel channels so always uncertainty is there.In the second chart I have shown that it has broken out of a parallel channel i.e current wave 2 so it has upward bias.
NIFTY HOURLY
NIFTY HOURLY WITH ELLIOTT WAVE MARKINGS
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,604.35 -36.60 -0.34%
NIFTY VIEW FOR 19/02/2019
NIFTY made a low of 10585 odd but did not break 10583.70.I had said that a break below 10583.70 will invalidate my count.So If it does not break 10583.7, then NIFTY is bullish.
If it breaks 10583.70 refer to the 2 nd chart.
NOTE :DAILY CHARTS GIVEN BELOW AND NOT HOURLY CHARTS
NIFTY DAILY CHART
IF NIFTY BREAKS BELOW 10583.70
If NIFTY breaks below 10583.70, expect it to break 10534.50 also.In this case it should not break 10333.80, if NIFTY is bullish.
Heavy overlapping between waves shown by blue lines shows that NIFTY is still correcting.Since Market is very fluid it is better to wait for Markets to give a clear direction.
DAILY NIFTY
SORRY NO UPDATES TODAY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,724.40 -21.65 -0.20%
NIFTY VIEW FOR 18/02/2019 ONWARDS
NIFTY is moving exactly as per the roadmap shown by me.If bullish it should not break 10583.70.Wave “c” touched 10633 which is 100 % of Wave “a”and made a low of 10620.40.
NIFTY should not break 10583.7 if it is bullish.
If circled wave ii or (a) is over NIFTY should touch a minimum of 11000 which is about 80 % of the fall.It can go still higher depending on the structure.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,746.05 -47.60 -0.44%
VIEW FOR 15/02/2019 ONWARDS
NIFTY is moving exactly as per the roadmap.If bullish it should not break 10583.70.Wave “(c)” can be 61.8 % of wave “(a)” i.e 10733 which it touched today or can be 10633 which is 100 % of Wave “(a)”.Wave “iv” can go a bit up and then make wave “v” as shown by pink line or can directly make wave “v” as shown by red line.After wave “v” circled wave “ii” will be complete and an Upmove will start.It should stay above the falling down channel to be bullish.
NIFTY HOURLY
NIFTY 50 View By A Reader/s
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
I am giving herebelow a view by a reader of my Blog Mr Pankaj.Even that view looks possible.Thanks Mr Pankaj.Only wave “(b)” marked in red colour is mine.Also Mr Ravindra Nagpurkar meant the same thing, I think in my Facebook comments section.Thanks Mr Ravindra Nagpurkar.
NIFTY HOURLY View For 14/02/2019
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,793.65 -37.75 -0.35%
NIFTY VIEW FOR 14/02/2019 ONWARDS
NIFTY is moving sideways with downward bias.Today it retraced 61.8 % of circled wave i.So after wave (a) down is over wave (b) up will start and then (c) down as shown in the chart.I am not very confident on this pattern right now unless we start upmove at the earliest without going down further.Yesterday I had said that it is better to avoid trading any upward bounce i.e wave (b) for now.
I have shown tentative markings which can be taken into account after completion of wave (c) shown in red.After wave (c) down is complete circled wave iii up will start.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,831.40 -57.40 -0.53%
NIFTY VIEW FOR 13/02/2019 ONWARDS
NIFTY has formed 1-2-3-4-5 for (a) of a zigzag.Above 10880 a bounce to wave (b) may form and then may resume wave (c) down.Whether one wants to play wave (b) on bounce is left to them.I don’t feel it is worthwhile since bounce can be even 20-30 % of the fall and if lucky can be 79 % of the fall.
Regarding yesterday’s post, one reader had asked me whether NIFTY will follow option 1 or option 2 since one was showing down and another was showing 180 degree in opposite direction i.e Up.My answer to that was “I do not know”.Because sometimes unless other clues are available, I can’t say. Yesterday it was moving in a channel, so unless it breaks the channel, by gauging the force applied for that break etc I can’t make out what is happening.Today the break of channel was lacklusture so I could tell it is 4 th wave triangle so it is forming an Impulse pattern.So in Elliott many times one has to go for Post Pattern Implications only e.g today’s post, I can’t say what will be the depth of wave (b) up because the guideline for zigzag says that wave “b” can go anywhere from 10 % to 79 % of wave “a”.Comments are welcome in comments sections and not in other forums.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,888.80 -54.80 -0.50%
NIFTY VIEW FOR 12/02/2019 ONWARDS
NIFTY is exactly moving as per my prediction.Now at this point we have two to three options on the pattern of correction.One can be a Double zigzag and another can be a Flat.
There are other variations but all variations will have to be deciphered in a running market. Also watch Fibonacci levels at 10849.11 (50%) and 10786 (61.8%).
OPTION 1
If a double zigzag forms NIFTY may break the upper trendline as shown and then resume the downtrend.
NIFTY HOURLY
OPTION 2
If a flat correction forms we may see a pattern as shown below.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,943.60 -125.80 -1.14%
NIFTY VIEW FOR 11/02/2019 ONWARDS
I have shown the wave counts for NIFTY which is moving exactly as per my roadmap.In the purple box, I have shown the preferred count and below it the alternative count i.e wave (iv) may not be over.Also have a look at the fibonacci numbers for support.Reason for alternative count is wave (v) looks like a 3 wave up.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
NIFTY 50 11,069.40 + 6.95 +0.06%
NIFTY VIEW FOR 08/02/2019 ONWARDS
I am giving a monthly chart first with alternative count at the request of my reader.
NIFTY MONTHLY ( updated till Jan 31)
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
11062.45 +128.1 +1.17%
NIFTY VIEW FOR 07/02/2019
NIFTY broke 10987.50 and is on a roller coaster ride.NIFTY is forming circled wave i of 3 of (5).So expecting overall targets of 11400 – 11760 +
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
NIFTY VIEW FOR 06/02/2019
NIFTY is moving in a very narrow range.My view is the same as given on 04/02/2019.So please read the charts given for 04/02/2019.
SORRY NO UPDATE FOR 05/02/2019
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,893.65 +62.70 +0.58%
VIEW FOR 04/02/2019
NIFTY did not cross 10987.50 which I had said will invalidate my count.NIFTY made a high of 10983.45, so my wave count is still valid.NIFTY is moving in a sideways pattern since 2 months i.e between 10987.50 and 10534.50.NIFTY is bullish and will cross 11400 -11700 range.The point to be seen is whether it will break 10534.50 to the downside and then go up or go above 10987.50 from here itself.I have shown the wave counts for both the scenarios.
IF NIFTY STAYS DOES NOT CROSS 10987.50
NIFTY HOURLY
IF NIFTY STAYS ABOVE 10987.50
If this pattern is correct, then NIFTY has made a Running Flat for Wave 2 which is very bullish.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,830.95 +179.15 +1.68%
VIEW FOR 01/02/2019
Whether my wave count is valid or not, I will come to know only after 1 st or 2nd February after the Budget.
Till that time I will keep my fingers crossed.I am showing a Daily chart with tentative wave markings.The levels to be looked tomorrow are 10987.50 or 10534.50.
If NIFTY stays above 10987.50, then wave 3 up has started.If it goes below 10534.5 but does not break 10333.80, then wave 2 will be completed and we can look for wave 3 up later.
A break below 10333.80 invalidates all my counts.
Below the daily chart, I have shown 2 Hourly charts to show what may happen if NIFTY stays above 10987.50 or does not break above 10987.50.
NIFTY DAILY
IF NIFTY DOES NOT BREAK ABOVE 10987.50
In this case it is still Impulsive , still making circled wave c, and will complete wave 2 as shown .It should break 10534.50 but should not break 10333.80.After wave 2 is complete, wave 3 Up will start.
NIFTY HOURLY
IF NIFTY BREAKS ABOVE 10987.50
In this case it has already started wave 3 up.Wave 2 would have finished at January 30 th low making a truncated Flat for wave 2.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,651.80 -0.40 0.00%
VIEW FOR 31/01/2019 ONWARDS
NIFTY is moving exactly as per the Roadmap shown.Today it did not touch 10720 which is 38.2 % showing underlying weakness.It touched a high of 10710.20 only.If wave iv triangle is over then expect fresh selling below 10612.Keep in mind the upper levels of Fibonacci ratios namely 10720 and 10760 just in case market goes up.It should not go above 10799 if the current count is valid.
NIFTY HOURLY
(marking of future course not to scale)
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,652.20 -9.35 -0.09%
VIEW FOR 30/01/2019 ONWARDS
NIFTY is exactly following the roadmap shown yesterday.Wave iv may touch the fibonacci retracements shown in the chart.Levels being 10720 /10761 .Or it may reverse from this point itself, so I have shown two redlines side by side going down.Let us see if it breaks 10534.50 to the downside after wave iv is over.
NIFTY HOURLY
NIFTY 50
DISCLAIMER : THIS IS NOT A TRADING ADVICE, BUT ARE MY THOUGHTS / DISCUSSIONS WITH THOSE WHO ARE INTERESTED IN THE USEFUL APPLICATION OF TECHNICAL ANALYSIS.THIS IS FOR STUDY PURPOSE AND ENTERTAINMENT. WHILE DUE CARE HAS BEEN TAKEN IN PREPARING THESE NOTES/COMMENTS, NO RESPONSIBILITY CAN BE OR IS ASSUMED FOR ANY CONSEQUENCES RESULTING OUT OF ACTING ON THEM.TRADING IN STOCKS/COMMODITIES/FUTURES CARRY RISK.CONSULT YOUR FINANCIAL ADVISOR / SEBI REGISTERED RESEARCH ANALYST ONLY BEFORE YOU TRADE.THIS IS NOT A BUY / SELL RECOMMENDATION .ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.I AM NOT A SEBI REGISTERED TECHNICAL ANALYST.
10,661.55 -119.00 -1.10%
VIEW FOR 29/01/2019 ONWARDS
I said yesterday that NIFTY should not break 10692.30 if it is bullish and if it breaks 10692.30 , it may touch 10628.30 or worse 10534.50.
NIFTY broke 10692.30 and made a low of 10630.95 just short of my first target.I have shown new wave count which is bearsh in NIFTY daily. The zoomed portion in Aqua coloured circle I have shown in hourly for better details.
So I feel NIFTY will break 10534.50, but should not break 10333.80.If at all NIFTY does not break 10534.50 ( I think it will break below) then it will make a series of 1’s and 2’s and will be very bullish.After completion of wave 2, NIFTY will go up to make wave 3 as shown in daily chart.
NIFTY DAILY
NIFTY HOURLY
devadasnayak 