NIFTY 50 HITS BULL’S EYE

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.

NIFTY 50  ( 10,858.70 ) + 129.85  + 1.21 % 

NIFTY VIEW FOR 30/11/2018 ONWARDS

Please post your questions/queries/ comments/doubts  here in the Comments section only so that it helps other readers also.

NIFTY hit the bull’s eye.I had projected a target of 138.2 % (fibonacci ratio) of circled wave a of 2 which was 10883.49 and NIFTY made a high of 10883.05 and reversed from there.So targetwise I am satisfied, but pattern-wise I am not.

So if NIFTY is indeed making an Expanded Flat, then for circled wave b of 2 it should have made a 7 legged pattern.But here see- in between the blue parallel lines – we have a 5 legged pattern ( see diagram 2).So NIFTY may correct “a bit” tomorrow morning without breaking the trendline and then resume one last leg up.So if it makes a 7 legged structure, then it is perfectly fine for b wave of an Expanded Flat and we may resume the downleg as shown by orange line.( see diagram 1)

Also for more clarity I have shown it in Diagram 2 by zooming the parallel line area to show the course of NIFTY for this pattern,See Diagram 2.

DIAGRAM 1

DIAGRAM 2

A mild correction – point 6 without breaking the trendline then an Upleg – point 7  ( see Dark Blue lines ) and then red down wave for c.

The next question comes – If we don’t make a downleg and then an Upleg but break the light blue trendline immediately in the Opening first or second hour itself  ?  Then the Expanded Flat Pattern gets negated provided we have only a “5 wave” structure between the parallel lines.

So maybe we have completed circled Wave i of 3.And this break of trendline will follow a correction to form circled wave ii of wave 3 down and then resume the uptrend to form circled wave iii of 3 ( See roadmap in blue lines).This was discussed yesterday itself in the last paragraph as 3 rd option asking my readers to “think” on this line as well as an alternative. See Diagram 3 for more clarity on this pattern.

DIAGRAM 3

 

 

 

Milo/Horlicks Godzilla

Gastronomy

This popular Singapore beverage showcases how to entice children to drink milk in a creative way. Milo is commercially available chocolate and malt powder that is mixed with hot/cold water or milk to make beverage. You can try this with Horlicks as well.

Similarly, you may make Milo Dinosaur by skipping the ice-cream and adding some Milo powder directly on top of the beverage.

SERVES 1

Ingredients

2-3 teaspoons Milo (or Horlicks) powder, plus extra for topping

2 teaspoons milk powder

1 cup/250ml cold milk

One scoop of vanilla ice cream

Method

1. Heat ¼ cup/65ml milk and dissolve the Milo and milk powder.
2. Add the remaining cold milk and mix.
3. To serve, pour the milk in a tall glass. Add a scoop of vanilla ice-cream.
4. Add some Milo powder on the ice-cream and serve immediately.

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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.

NIFTY 50  ( 10,728.85 ) + 43.25  + 0.40% 

NIFTY VIEW FOR 29/11/2018 onwards

I could not post for 28/11/2018 as my broadband cable got snapped. Sorry for the inconvenience caused to the readers of my blog.Click on “follow devadasnayak” in blue at the top right side if you want my writing delivered in your email inbox.

NIFTY has treaded on the path as shown by me for 27/11/2018.See diagrams A and B.

Mostly we may form a “Flat” ( see diagram A given for 27/11/2018) for wave 2. So this will come in force only if  NIFTY breaks 10774.7 to the Upside.Once it breaks 10774.90 it may try to touch 10789 (10789 – may not be of much interest as it is very near) – a level for normal Flat and then may come down. Or it may touch fibonacci levels of 123.6 % – 10840.77 and  138.2 % -10883 for “Elongated Flats” and then may come down.After touching any of these levels or going above it, NIFTY may come down to test 10440.See blue arrow path.Do not be in a hurry to anticipate downtrend if these levels are touched.

If it does not break 10774.70 on the upside,  then it is forming an “X” wave and it will follow the red line and try to break 10441 ( see diagram B given for 27/11/2018).This looks much unlikely now as it has already retraced about 94 % of the fall from 10774.9 to 10489.8 as it touched 10757.8 today.This is unlikely for an “X” wave following a Zigzag.But still this option remains open.This pattern gets negated once NIFTY crosses 10774.70 to the UPSIDE.

The 3rd option ( least possible, only for readers to “think” at this point) which may open only after seeing the waves formed on 29-11-2018 is that it may have completed wave 2 at 10489.8 and started minute wave 1 of  wave 3 UP.If this happens , then NIFTY may go up much more.But do not anticipate this pattern in HASTE. Let the market show clues to us.

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY 50  (10628.60) +101.85

NIFTY VIEW FOR 27/11/2018 onwards

Yesterday’s mentioned level of 10440 remains “pending” to be revisited at a later time after finishing the current pattern.

Also I had mentioned that “in the afternoon” if NIFTY stays above 10580 , it will see a bounce.The moment NIFTY crossed 10580 at 1.45 PM, it jumped by 58 points.My logic of afternoon bounce was that “the ZIGZAG” pattern mentioned by me yesterday was not complete.So I felt that we will first complete it in the morning and then in the afternoon we may see a bounce.

Now see the Blue ellipse / circle (in the NIFTY HOURLY chart) which shows the current uptrend from the low of 10489.80. It may be  :

a) A Zigzag forming again

b) An “X” wave forming 

If we are forming a) – Zigzag, then we will form a Flat for higher degree.So the current uptrend can go to a minimum level of  10746, probably 10787 and if bulls are lucky – 10841 and 10883.The “C” wave of the Flat can then come to test 10440.See Diagram A

If  we are forming b) An “X” wave then there are no specific guidelines except that we will not go above 10774.9 and then another corrective pattern down will form.See Diagram B.We can reverse anytime and go below 10489.80.

In the diagrams we are currently at the red circle location.  Play with appropriate Stop Losses.

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY 50  (10526.75)  – 73.30   

View for 26/11/2018 onwards

NIFTY touched 10524 , the level given by me for Thursday. Also previously I mentioned that I will not try to predict the bottom but will watch the depth of the correction and then decide on the wave structure.

NIFTY is forming Wave (2) correction.So I feel NIFTY is currently forming a zigzag and NIFTY will try to touch 10440.50  soon, which is start of the Ending Diagonal.I have not changed wave count drastically, but instead of the leading diagonal, it has become an ending diagonal.

Also watch 10388 which is 50 % Fibonacci level and 10297 which is 61.8 %.NIFTY may or maynot come there but even if it comes there, the bullishness remains intact. 

 Look at the Purple thick trend line at the right.Monday afternoon levels may be 10580 -10590 or so for the trendline.So if NIFTY stays above 10580 in the afternoon then maybe NIFTY will experience a short term bounce.Further projections of the trendline, I will give everyday.

NIFTY HOURLY

 

 

NIFTY 50

NOTE TO PREVIOUS POST. (for 22/11/2018)

Read the previous post along with the note.

If we do not break 10562.30 in the days to come we may have completed the correction and may move up.If we break 10562.3 then the counts given in the previous post will apply.

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY 50  view for Nov 22 onwards

NIFTY  10600.05   -56.15 

Yesterday I said that normally 2nd wave will go upto 61.8 % of wave 1.This is a guideline and not a rule.61.8 % level was 10569 and NIFTY made a low of 10562.30 today and recovered from there.

NIFTY may be forming a double zigzag or a double combination for wave 2 of (3).If NIFTY is forming a double zigzag as shown by YELLOW line we may touch 10524 approximately and then it will move UP.If Nifty is forming a double combination then look at ORANGE and BLUE lines.It may form some sideways correction and then move up in a day or two.

Watch today’s low of 10562.3 , as to whether it holds or not.

Any break below 10442.9 may negate this combination.

NIFTY 15 Minute Chart

If you want to be intimated the moment I post, click on the Top right BLUE coloured button shown in the picture below.Also if you want to comment, you can do so by clicking on the comment button at the top shown in the picture.

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY 50  view for Nov 21 onwards

NIFTY  10656.20   -107.20  

Yesterday I said that we may correct from this level once we finish 1 of (3) which may be a leading diagonal.We corrected 38.2 % today which is 10647.90. 50 % level is at 10608.8 and 61.8 % level is 10569.70.

We are forming wave 2 of (3) which may test the above mentioned levels or may not.The above mentioned levels are “guidelines” and not “rules”. Normally a second wave can test 50 %, 61.8 % or maybe sometimes even more and sometimes only 38.2 %.So let me see the depth of the correction tomorrow to label the correction.

If bullish, NIFTY should not break 10442.90

NIFTY HOURLY

 

If you want to be intimated the moment I post, click on the Top right button shown in the picture below.Also if you want to comment, you can do so by clicking on the comment button at the top shown in the picture.

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY  10763.4 (+ 81.20)     

Roadmap For 20/11/2018 onwards

NIFTY as I said is in Uptrend.It has touched all my targets.A correction can come at this level or after a day or two, but should not break 10442.90 NIFTY is mostly forming a leading diagonal for wave 1 of 3.So after wave 1 of 3 it may see a correction without breaking 10442.9 and resume the uptrend.

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY  10682.2 (+65.50)     

Roadmap For 19/11/2018 onwards

NIFTY  is moving exactly as predicted.In the Hourly Charts at no point of time should it break 10532 (warning) and 10442.90 for the Uptrend to continue.

Watch how NIFTY reacts to levels at 10754.70 and 10821.5 shown in the Daily Chart below.

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY  10616.70 (+40.40)     

Roadmap For 16/11/2018 onwards

Nifty broke above the falling channel shown yesterday but did not break 10651.60 Still it is bullish and may take the Preferred count shown in BLUE.So NIFTY may move along the Blue lines.The blue line is not to scale but just shown.

Alternatively  it may consolidate a bit more below 10651 -10670 range as shown in ORANGE colour for the next 2-3 days and then may move higher.

If NIFTY moves below 10442.9 , then we may have “COMPLETED” the C wave -shown as “C  forming” now.This is very bearish count.

For any bullishness to sustain, NIFTY should stay above 10651.60 for longer duration .

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE. 

NIFTY  10576.3 (-6.20)     

Roadmap For 15/11/2018 onwards

Nifty as I said will cross 10650 and also that it will correct to 10550-10530 in the morning.It did both ,it made a high of 10651.6 and a low of 10532.70.

I am showing an Hourly chart on the left hand and a 15 minute chart on the right.Still structure is BULLISH and NIFTY should cross the falling channel as shown in the 15 minute chart.So by rule of thumb if NIFTY stays above 10600 or safety wise 10628, it will be bullish.Failure to cross 10651 is bearish.

Also NIFTY should not break 10457 at any time.Tomorrow either NIFTY may break the falling channel and go up or may continue to correct inside the channel.As far as it does not break 10457, it is BULLISH.

The Circled area on the Hourly Chart is zoomed for clarity purpose on the 15 minute chart.In Hourly chart “C” is probably still forming.

In the 15 minute chart it is probably forming (1) of C, (2) of C etc.

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE. 

NIFTY  10582.5 (+100.30)     

Roadmap For 14/11/2018 onwards

This was the description for Chart 2 given yesterday -“First possibility is NIFTY may fall a bit or not and start to move up and may touch 10680-10750″.Nifty did not fall much today and started moving up .

Now we may see levels of 10608-10709 -10772 shortly.Normally the upmove may go to 10709 level.Nifty may correct upto 10550 -10530 levels in the morning. Any break below 10440 negates this view.But in the longer run if we don’t sustain above 10650-700 range, be prepared for heavy correction.

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE. 

NIFTY (10482.2)   -103           

Roadmap For 13/11/2018 onwards

Yesterday I had shown 5 charts and in all the charts irrespective of the structure i.e impulsive or corrective, the immediate moves were all down arrows.Also I mentioned that as days go by most of the structures will get eliminated.

Today there is much clarity on the structure with the “triangle”-Option B getting  eliminated and the other two structures more or less merging into 1 each.

So only two possibilities remain now -Either NIFTY goes above 10645.5 or not.

If NIFTY does not go above 10645.5 in the next few days, we have started  wave 3 down and break of 9951 looks imminent.see chart 1 below.

ALL CHARTS ARE HOURLIES

CHART 1

This is the last alternative though I am giving it first.

If NIFTY  goes above 10645.5 in the next few days, we have 2 Possibilities.

First possibility is NIFTY may fall a bit or not and start to move up and may touch 10680-10750 and then fail to sustain above the highs.Then we may reverse from there and see break of 9951.See chart 2 below

CHART 2

The other possibility is NIFTY  can come down even upto 10342 or slightly below and then go up forming Impulsive waves and sustain above 10650-10750 range, then we may move up and go above 11760 + See chart 3 below

CHART 3

 

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE. 

NIFTY (10585.20) – 13.20

View For November 12 , 2018

NIFTY as I said should remain above 10617 for 3-4 hours to be bullish but as you have seen NIFTY could sustain above 10617 for only for 5 mins or so.And the result was it fell.

But where is NIFTY going ? The answer to this question is what is the Structure of the current uptrend from 10004 – See the yellow Circle on Daily NIFTY.If NIFTY is forming a Corrective structure then after finishing this structure it will go to 9000 odd levels, and if NIFTY is forming an Impulsive Pattern – then we will cross 11760 and maybe 12000+.

After the completion of the current Upmove and depth of the correction only I can tell if the NIFTY is forming Corrective or Impulsive Structure.

If you get confused reading the Elliott wave markings read only this one Sentence – NIFTY will remain in a range of 10700 -10300 in the coming few days.As days go by one by one alternatives will get eliminated and only one pattern will remain which will go for a approx 800-1000 point move in the designated direction of that particular pattern.

DAILY NIFTY

If NIFTY is forming a Corrective structure for the Current Upmove from 10004, refer to Option A or Option B or Option C in the Hourly below 

If NIFTY is forming corrective pattern i.e Option A then after slight correction to C4 – will not break 10491.50 and it will not go up by more than 142 points from end of C4 and then will crash to 9951 levels and subsequently to 9000 levels.

If NIFTY does not break 10477 then it is forming Option 2 Corrective pattern which is a triangle for wave B pattern of a Double Zigzag .So after completion of the triangle NIFTY will move up by approx 140 points added to the end of point “e” shown in Option B.After gaining 142 points it will crash to 9951 and subsequently 9000.

If NIFTY is forming Option C then it is forming wave “c” of a Flat of wave “B” of a double zigzag.If so it will break 10477 to the downside and go up by approx 200 points for wave “C” of a Double zigzag and then ultimately crash to 9000.

If NIFTY is forming an Impulsive structure for Current Upmove from 10004. refer to Option D and Option E in the Hourly Chart below.

If Option D is forming namely the left hand chart NIFTY may  go down to test 10342 odd levels and then go up to 11760+ and much more.

If Option E is forming then NIFTY may not break 10477 and will form a Diagonal wherein it will chart the path as shown,.After completion of the Diagonal it will test 10342 sharply and then go up to break 11760+ and much more higher.

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY (10598.40) +68.4  View for November 9 onwards

NIFTY if it remains above 10617 for more than 3-4 hours, may go to 10680-10700 +.

Preferred view is Option 2 (right side chart) ,where I feel NIFTY may touch 10650 or so at the most and may reverse to break below 10600 and eventually 10477 where an Expanded Flat may be forming.NIFTY may not stay above  the trend decider level of 10617 for more than 3 -4 hours if this view plays.

Option 1 (left side chart) suggests that we may have completed “b” wave of a Double Zigzag and going towards the target of 10700+ to make wave “c”.For this view to remain in force NIFTY should comfortably stay above 10617 for more than 3-4 hours.

Either option plays, NIFTY will go up one leg, either before or after the correction.

If you are not familiar with Elliott waves watch the yellow arrow lines drawn for easy understanding.

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY 50  (10530) +6   

View for 07/11/2018 Onwards

Wish My Readers and members of their Family a Very Happy Deepavali

NIFTY has made a shallow correction between 10488-10455 region which I mentioned in my last post.Nifty made a low of 10477.

Structurewise we are making a Double Zigzag abc-x-abc.The “b” wave of second zigzag is forming a Flat.If so it should break 10477 to the downside and then go up(see the blue arrow path).Normally the upper target will be equal to the “a” leg which is equal to approximately 250 + points.So we may touch approx 10700 + if this structure is correct.

Break below 10477 to the downside is desirable to fulfill the guideline of a “Flat” but not a Must.

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY 50 (10553) +172.55 view for 5 Nov 2018 onwards

NIFTY if forming left hand side pattern marked “A” on Hourly chart may correct to levels of  10343 or may be even bit down, and then may move UP.This is a bullish scenario.

If the right side chart formation marked “B” happens correction will be shallower to 10488 -10455 levels and then move one leg Up.

Overall scenario whether NIFTY will run to new highs (11760) or not will be dependent on the STRUCTURE of the ongoing Up move.More updates later as structure becomes more clear.Right now ride the bullish trend after the correction.

Either Counts, 10105 should not be broken.

 

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 AND NO STOCKS WILL BE DISCUSSED.ONLY BROAD MARKET TRENDS ARE DISCUSSED HERE.

NIFTY (10386.6)  +188.20 

View for 01/11/2018

NIFTY broke 10290.65 and immediately zoomed to 10386.6 .We may have completed wave C of the flat or it may be Wave 1 of C of an Elongated Flat.If so look for NIFTY to go to  10672-10710-10878-11084.

Any correction in NIFTY should not break 10105.1 /10012.65 .Break of  10004.55 negates bullishness.