Nifty 19-02-2017

  • Nothing much changed from last week. Expecting correction or consolidation for sometime soon.
  • Divergence is seen in price and RSI
  • Look for break of Lower trend line for correction/consolidation confirmation

nifty-19-02-2017

Nifty 08-01-2017

I think Nifty is in uptrend.

Below is Hourly chart.

  • Wave 1 completed or near completion. We can see RSI divergence.
  • Wave 2 in progress. Wave 2 can retrace to 50-61.8% level i.e. 8100-8050.

If this is indeed wave 2 then look for

  • price to retrace from Fibonacci level as said above for wave 3.
  • RSI should take support at 33-50 level, as marked by red box. If RSI stays below 33 level for sometime, I may need to change my view on below wave count.

nifty-9-1-2017

Nifty 27-12-2016

As said in previous post, Nifty turned UP today. Wanted to catch this kind move and we made 1-2 unsuccessful attempt earlier, no loss though. Today, it already gave 5 bagger and  if it goes as per plan it should be 10-15 bagger by expiry.

This kind of opportunity is seen 2-3 times in a year. Last time was in May 16

https://rajinbrussels.wordpress.com/2016/05/26/may-2016-expiry/

Lets see how thing goes tomorrow and day after.

IMPORTANT: Anyone playing should use 34 EMA in 5 min as entry & exit for next 2 days OR previous LOW in 5 min as stop loss to protect profit.

Below is 5 min chart with 34 EMA

nifty-27-12-2016-2

nifty-27-12-2016

Nifty 20-11-2016

Market mood is very bearish due to various factors like Trump, Demonetization, rise in dollar index etc…Sometime this kind of mood gives big return in market especially during last week of derivative trading. So be vigilant for possible opportunity in upside.

Please refer below link to understand where I am coming from

https://rajinbrussels.wordpress.com/2016/05/26/may-2016-expiry/

Below is hourly chart.

  • Price in RED BOX shows Reverse divergence and normal Divergence in RSI. To me, bulls are just waiting for opportunity (you can google for ‘Reverse divergence’ for more learning)
  • Last support at 8000 and 24th June support at 7927. This zone 7927 – 8000 can be potential reversal zone
  • Would like to see
    • price in range of 7927 – 8000
    • Divergence in RSI and/or MACD
    • Reversal candle stick in hourly/daily ( for reversal candlestick refer my post on 22-08-2016)
    • Timeline by coming Monday-Tuesday

If above pattern setup happens and things go in our way – It could give multifold returns in options in next week. Can invest small qty to buy CE8100/CE8200

If I get chance, I will try to update this blog………..

nifty-nov-20

Nifty 06-11-2016

Trump or Clinton ?

Nifty reached to bottom of channel in hourly chart. This should bounce soon if this movement from last 2 month is corrective. Expecting bounce soon

It is said that if

  • Clinton wins – good for market
  • Trump wins – Bad for market

Seeing hourly chart below, it seems current down move over and next move should be upside. Hence if I have to speculate using elliott wave – its Clinton who is going to win US presidential election.

nifty-06-11