NIFTY SPOT

Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. 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 only before you trade.

I am presenting 3 views on Nifty and leave readers to pick their like.The first is the daily Nifty which is very simple and which is my cup of tea.The rest two are bit complex which I have given as my readers requested it who have a different flavour.

NIFTY DAILY

Nifty should pick up volumes and resume upward journey if trend is to remain intact.Coming back inside the rectangle will be sideways to bearish.

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Nifty Daily

FOLLOW THE NEXT TWO SYSTEMS ONLY IF YOU UNDERSTAND THEM.

The following two systems are showing condradictory signals.This is the reason I doubt, if “Wave 4” is indeeed complete ?

NIFTY WEEKLY ELLIOTT WAVE

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Nifty Elliott

The next system is a trend exhaustion system .After it reaches point “13” which is derived after going through a series of calculations, trend changes direction.This system is not “infallible” but has many times given accurate pinpoint tops and bottom.So a 13 on daily itself is enough for a fall, but here we have a “13” both on Daily and Weekly.So it is giving a sell.I am cautious since “13” is appearing both on weekly and daily.

For those who follow this system and are short on daily basis, their stop is if Nifty’s Daily LOW is above 7955.

Those who are short on weekly basis, their stop is 8079, if Nifty’s Weekly LOW is above 8079.

LOW above the price means,

bar 2

On the Weekly on the left hand side it is “13” in green and not “83” as it appears .Only numbering of different systems( in yellow) is overlapping.

On the daily, right side it is showing correct 13 in yellow.

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Exhaustion

SRIMAD BHAGVAD GITA — LORD KRISHNA’S OWN WORDS

JNANA KARMA SANYASA YOGA

THE YOGA OF RENUNCIATION OF ACTION IN KNOWLEDGE

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CHAPTER 4-6

4-6

Here Lord Krishna says that he is the Ishwara i.e the creator of this cosmic Universe.I manifest as an Avatara ( coming down) by my illusory power called maya.The Jeevas are born inorder to exhaust their Karmas good or bad.e.g on a personal level the cells or the organs of the body have their own independent functions but they in totality they work for my body.Same is the case with your body or all bodies in the Universe.An ocean has many waves, some may be big or small, forceful or mild, but they are all parts of the Ocean.The common element that binds them is water.All waves are made up of water and Ocean is also made up of water.

Similarly all jeevas are independent within a limit but the conscience that runs through them is the Cosmic intelligence.The countless jeevas rise , exist and merge in the cosmic body or Ishwara.We are not independent of Ishwara , we are in it.We may feel we are independent entities.Yes to some extent but we work for our family, our family for our society, society for the nation and nation for the Universe and Universe for Cosmos.Unknowingly we all follow the law of nature as we do not know how and why a particular organ functions in a particular way, yet it works perfectly.

So we jeevas have samskaras or past impressions because of which we are born to exhaust it, yet Ishwara does not have any past Karmas and is not bound by the law of nature.But when he assumes an Avatara he behaves exactly like us and follows the law of nature but shows instances when he is beyond the law of nature.

In Mahabharata, Lord Krishna never goes beyond the law of nature except when Ashwatthama uses BrahmAstra.The story goes like this, after the defeat of the Kauravas, AshwatthAma to avenge the defeat, challenges Arjuna to a duel.AshwatthAma despite his promise to his fatherand Guru Dronacharya not to use the BrahmAstra uses it.So Arjuna had to use his BrahmAstra to counter it.At this time to stop the entire destruction of the Universe, Vyasa Maharishi appears and tells both of them to withdraw the BrahmAstra.Arjuna does as asked but AshwatthAma could not do so as he did not know how to do it.So Lord Krishna asks him to direct it to an uninhabited place.At this Ashwatthama to avenge his defeat directs it to Uttara’s womb who was bearing Abhimanyu’s son ( Abhimanyu was Arjuna’s son).He did so as to finish of the Pandava clan.The fetus is killed, but Lord Krishna intervenes and tells Ashwatthama that he (Lord Krishna) is not not bound by the law of the nature and will go beyond it to give life to the fetus.Thus was born Parikshit.

NIFTY DAILY SPOT

Disclaimer : These notes/comments have been prepared solely to educate those who are interested in the useful application of Technical Analysis. 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 only before you trade.

Nifty