NEW YEAR 2013

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HOPING ALL YOUR DREAMS AND WISHES COME TRUE IN 2013

NIFTY UPDATE:

Good Morning Friends :
NIFTY UPDATE :  Still the correction(a-b-c) from 5965 is not yet over ,its look like that b is doing triangle, break down point is 5860 which leads to 5740,now if a=c than NIFTY will reach 5797 and if it will extend(c=a*1.618) than it can reach 5709, the 50 % retracement from 5549 to 5965 is at 5757 and 61.8% retracement is at 5707 ,and the trend line support is also at 5707 , so take ur decision accordingly .

HAPPY TRADING (R.K)

NIFTY :2nd DEC 2012

NIFTY : I am sorry that i am  unable to update regularly in the month of  Nov , The 4th wave correction had taken nearly a month , but i had already mentioned that remain invested and 18000 is yours strict STOP , and the 5th wave is doing the damage for BEARS , now coming to 5th wave the rise from 5548-5885 is still  3 sub wave ,so any dip is still a buy for the target in between 5940-6000, I had already booked my longs . be cautious ,so start booking yours longs.Try to short in between 5950-6000 and place your stop 50 point above 6000. The option data suggesting the range of 5500-6000 for the Dec series .

INR : The INR can correct up to  in between 53-54 , so till some up move in NIFTY is left out .

R.K.

NIFTY:

The Market is balanced because few are Bearish and few are Bullish ,Its not possible that at same time all are going to be Bullish or Bearish ,Its also not possible that every one is going to make a profit from the market .So U don't have to criticize others (Traders/TA/Astrologers) to appreciate urself.

NIFTY: Still its looking that NIFTY is in a-b-c correction only, SENSEX had breached the trend line but NIFTY  is still siting at the trend line support ,so there is higher chances of bounce back ,Keep 18000 as strict STOP for ur longs ,US market is showing good weekly positive divergences and i m expecting a bounce in US market for 2-3 weeks before some more pain in the market ,So use all rally to exit ur all holding .
R.K

HAPPY DEEPAWALI :

On the auspicious day of  DEEPAWALI  . Wishing you and your family  Success , Happiness & Prosperity . HAPPY DEEPAWALI .

NIFTY UPDATE: 05 NOV 2012

NIFTY : Last week on 30th OCT  I already mentioned to start buying in small quantity some good high beta stock and NIFTY, May be we won't go below to much right now, don't go long heavily ,now every one is asking how far we will go,Use every dip to buy for the defensive target of high above 5815 NS,and i will try to exit near upper trend line which is 5865-85 NF.May be there is high probability that we can reach the target this week.So again I m warning at higher level ,don't expect too much from NIFTY. I m expecting a bounce in the US market and USD/INR .so trade safely .not much more to write .

R.K.

NIFTY UPDATE :30 OCT 2012

NIFTY:
No Change in the view but we can start buying in small quantity in few good high beta stocks ,as NIFTY will complete its a-b-c correction very soon 5585(38.2%) or 5545 (a=c) . USD/INR will correct very soon as there is a negative divergences and 5 wave rise from 51.20,so i m expecting a (a-b-c) correction in USD/ INR.US market  will bounce for a retracement of minimum 50% of the fall as i m able to see a clear 5 wave fall  in NASDAQ-100.
R.K.

NIFTY WEEKLY:22-26 OCT 2012

NIFTY:There is no change in the view, what i posted last week . The correction from 5815 in NIFTY is a-b-c correction of 4th of C ,The minimum correction of NIFTY is 5615 i.e. (0.618* a) or ideally  it can do 5547(c=a). Though i guessed that we r going to bottom out last week but i m wrong ,If NIFTY close below 5620 than only we can expect 5540 ,other wise the correction can over at 5615(minimum correction) also
This is expiry week so try to trade in the range of 5620-5720 break out on either side on closing basis will decide further direction, i m expecting expiry around 5650 +/- 20.and weekly range is 5540-5720.NASDAQ 100 had achieved its H&S target .

R.K.

NIFTY :15 OCT 2012

NIFTY: The correction from 5815 in NIFTY is a-b-c correction of 4th of C ,The minimum correction of NIFTY is 5615 i.e. (0.618* a) or max it can do 5547.Now its look very difficult that NIFTY will break 5550 on closing basis for short term,as there is -WW below 5550 which gives the target of 4950 and there is H&S ,neck line at 5620 which gives the target of 5390,The correction will over on 15/16 OCT ,a panic low any where in between 5615-5550 and a reversal for the final up move of 5th of C.There is no major participation in the 5th wave ,so buy only selected NIFTY50 stocks.So buy any panic in between 5615-5550 for the final up move for the target  of 5935/65 ,time frame last week of OCT or 1st week of NOV.

HAPPY TRADING :
R.K.

NIFTY & NASDAQ-100 UPDATE:09 OCT 2012

NIFTY 50 :
Nifty had faced the resistance at the trend line of the wedge and H&S breakout and unable to cross the break out level ,Considering a-b-c correction of 4th of C from 5815 NIFTY can move towards 5585(38.2%) retracement of 5215-5815 and than towards 5515 i.e.50% retracement ,as i stated in my last post i like to wait till 11 or even 12 of OCT for correction to be over ,NIFTY had taken the support near median line of the channel ,breaking and closing below 5705 will open the target of 5585/5515.Refer my previous hourly chart.My personal trade i m still on short side still holding .

NASDAQ-100:
Refer my last post on  Nasdaq-100 There is H&S formation and Nasdaq-100 given the breakout today Break out level is 2778 and target is 2675,and currently trading at 2743,similarly there is also H&S formation on S&P 500 ,and many world indices are forming H&S so again warning be cautious .

R.K

NIFTY UPDATE:08 OCT 2012

Now the big question is the correction from 5815-5666 is impulse in nature or corrective , The fall looks like impulse but Friday spike is creating a confusion ,The wedge break out and a H&S Break out on Hourly chart giving the target of 5600/5500 respectively ,NIFTY had taken the support near 23.6% retracement of the rise and the median line of the channel ,breaking 5680 NF will leads to 5515 zone which is 50% retracement of the rise from 5215-5815,and support for the channel .The selling pressure is converting on daily chart also.so sell below 5680 NF for the target 5515.

R.K.

NIFTY : 07 OCT 2012

There is a clear 5 wave rise from 5215 to 5815 ,but there is no sign of correction ,than how to trade in coming weeks .The trend line and the channel drawn in the chart is going to be our trading  strategy for coming weeks, This is  NIFTY FUTURE chart showing a wedge and a channel ,The upper trend line of wedge is 5860 NF and increasing daily by 10 points ,selling NF is advisable at near that trend line and break out of the wedge is near 5735 NF and this trend line is also increasing daily by 10 points,The break out of the wedge will show further weakness in NF towards 5680 zone which is the middle line of the channel and breaking 5680 NF will leads toward 5500.The wedge target is around 180 points.
The Q-2 results are going to be out one by one ,so market will try to be in the range of  (5500-6000),and highly volatile .

R.K.

NIFTY UPDATE:

NIFTY chart showing a Expanding wedge which is highly bearish pattern and a top out pattern ,The rising trend line of the rising wedge  is around 5855 NF.so sell near 5855 NF ,and further weakness in the NIFTY only below  5680.There is a clear 5 wave from 5215 to 5800+.
R.K.

NIFTY UPDATE:

NIFTY is doing extension in 5th of 3rd so max it can do 2.618*wave1(160 point) which is 5954,and the wedge break out in NIFTY is on upper side giving a target of 5930 so better hedge your positions.

R.K.

NIFTY + BANK NIFTY UPDATE :3rd OCT 2012

The NIFTY is forming rising wedge break down is 5690 and target is 5500 and upper trend line is at 5745 and BANK NIFTY is forming triangle break down is at 11400 and target is at 10900 so those who don't want to short buy only above upper break out level .

R.K

S&P 500 : 2nd OCT 2012

Here is a EOD chart of S&P 500 showing a smaller H&S pattern at the top,H&S break out level is  at 1430 on closing basis and it will leads to 1400-1390,similar formation is there in NASDAQ-100 also.so US market had all ready started the correction ,when we r going to join the party ?? very soon .so be cautious at higher level .

R.K.

OCT MONTHLY VIEW :

Market is well balanced at 5700 with maximum CE at 6000 and maximum PE at 5300 ,with 90% of TA and Astrologers are talking about New BULL run ,on Friday i had squared off my all positional holding and hoping that market should correct till 9/10 Oct .No one is ready to talk about correction and every one is expecting about a simple dip to buy.so where to short and where to buy ,Elliott wave count wise market should come to around 5440 or 5340, before a final up move.
So those who had shorted they should keep 5735 weekly closing  as there STOP ,because closing 5735 weekly leads to 5965-85.and i am expecting a dip around 5440 or 5340 at least to create some longs again.Friday candle is Inverted Hammer which is giving me the hope with negative divergence on the chart that correction is coming ,so i will remain with my shorts ,as i am not expecting more than 5756 in this up move .
R.K.

USD-INR :30 SEP 2012

This is a USD-INR  4hourly chart :

The correction from 57.30 -52.45 is a (a-b-c) correction of 4th leg down ,and now the next leg up move should start any time .There is formation of  Diagonal triangle in C which indicate the down move of INR is over .There is a positive divergences on every time frame from daily to weekly with huge over sold .
INR had retraced more than 55% of the rise from (48.55-57.30) of the 3rd leg .
The next leg up move will take INR to 62+ in coming few months.

R.K.

BANK NIFTY : 28th SEP 2012

When there is a confusion in NIFTY chart and levels ,BANK NIFTY give the clear picture ,BANK NIFTY showing clear 3 wave rise and 4th wave should come at least around 10700,and selling pressure is going to come around 11580 which is the upper trend line,so short heavily near upper trend line ,in the last post i had mentioned that NIFTY can move maximum up to 5756 in the 5th of v leg which was missing .so exit your long positions above 5700+and short every rise ,I don't want to comment on NIFTY fall , just guess if BANK NIFTY can fall up to 900 points than how much NIFTY can fall,before moving final up move.
So be cautious at higher levels .
HAPPY TRADING :R.K.

NIFTY UPDATE : 26 SEP 2012

As i stated in my last post ,there is a rising wedge and NIFTY had taken the support at the trend line ,but the fall from 5720 is in channel and still corrective in nature ,that's why every Elliott wave trader searching 5th of v leg ,a rise up to 5700 at least , which is missing .

The rising wedge support at 5640 breaking below this level will leads to 5440,and if  tomorrow still the correction will be in channel and the lower channel at 5620 will provide the support ,and break out of the channel at 5675 will leads to  5700, as rest of the world market already started there correction ,so very soon NIFTY will also start its correction so be cautious .
HAPPY TRADING :R.K.

NIFTY

Good Morning Friends :

There is clear 5 wave in (5217-5720 ) and also there is a 5 wave rise in last sub wave (5535-5720),The 5th of 5th is over or at max it can move up to 5756, so short near that level , in 30 min chart there is a formation of rising wedge ,which is a bearish pattern ,break out of 5640 level will leads to 5440.so don't buy for time being as expiry is very near and monthly closing,wait for a correction to buy for the final leg up ,keeping in mind the expiry ,i will suggest a bear spread ,buy 1 lot 5700 PE and sell 2 lot of 5600 PE and hold till expiry ,as i see expiry below 5700 and above 5600.

HAPPY TRADING: R.K