Friday, May 31, 2013

>Nifty premarket 31st may

Hi friends,
                   Yesterday expectation was if we hold 6080 expiry would be above 6100 probably near 6150 ,Last hour we made a high of 6132.6.So indeed 6100 call cud have been a bumper if anyone tried it.
Today june series starts ,Today's expectation is if we fail to cross yesterdays high 6132.6 we should head lower towards 6070-60.
Happy trading...

Thursday, May 30, 2013

>Nifty premarket 30th may

Hi friends,
                     Yesterdays expectation was that nifty would be negative to sideways but won't cross 6150 .And a closing below 6080 would be weak for market ,Nifty did go below 6080 intraday but managed to close above it.
Today being expiry day resistances or supports can be broken with ease:).If market remains above 6080 expiry can be above 6100 probably near 6150 ,If it remains below 6080 then it could be a negative day.
Happy trading..

Wednesday, May 29, 2013

>Nifty premarket 29th may

Hi friends,
                   Yesterdays expectation was a sideways volatile market and indeed market was volatile we saw a swing of 80 points between the high and low of nifty.For a impulse we should see 3rd ending near 5150 and for a abc also c ending near 5150 so both counts suggests negative to sideways move if market goes below 6080 that would be first sign of weakness .USDINR
continues to be strong after a small correction again conquered 56+ .Overall for the day market is expected to be below 5150 .

Happy trading...

Tuesday, May 28, 2013

>Nifty premarket 28th may

Hi Friends,
                   Yesterday expectation was if 5980 holds nifty would target 6150-6200 and yes nifty spiked towards 6100 yesterday itself ,Today nifty can be sideways volatile full day ,The wave count has been labeled,The speed of the upmove and structure suggests to re look at count near 6150+  .
Happy trading...

Monday, May 27, 2013

>Nifty premarket 27th may

Hi friends ,
                    Expectation was 5980 would be an important level and we saw nifty hovering around that level for most part of the day.Now if nifty manages to hold 5980 we can head higher probably yo make a lower top near 6150-6200 levels .
If 5980 is not held then we can target 5900 but thats not the preferred case ..

Happy trading..

Friday, May 24, 2013

>Nifty premarket 24th may

Hi friends,
                   Yesterday expectation was below 6080 a test of 6000-5980 we tested that region and held it for almost full day in last hour it gave way though its in that range only.Now if 5980is held i would assume fall is done for now else it can drift down towards 5850.
USDINR yesterday did 56++ profit booking area its hovering round an important area now if usdinr fails to breach above 56 it can retest 53 we have to wait and see.

Happy trading...

Thursday, May 23, 2013

>Nifty premarket 23rd may

Hi friends,
                  Yesterday nifty expectation was a test of 6150+ and then a sideways to down move towards 6080 and yes nifty did that ,For any strength nifty has to hold above 6080 else 6000-5980 would be next stop ,Which i think eventually nifty has to test ,Overall once we test 5980 it would be certain that we finished an A at the high 6239.
Let the move be few days old and would lable the short term waves.

Happy trading...

Wednesday, May 22, 2013

>Nifty premarket 22nd may

Hi friends,
                   Yesterday nifty went below 6150 and made a low of 6106 ,My expectation was below 6150 a test of 6100.
Now wave wise we have almost done 5 down now if nifty holds 6100-6080 we can retest 6150-60 or else remain sideways in 6100-6080 range for the day.On usdinr frond the long call is doing good we have done 55.40 from 53.50 near 56++ we need to re look at the structure
happy trading..

Tuesday, May 21, 2013

>Nifty pre market 21st may

Hi friends,
                  Yesterday nifty tested resistance zone 6220+and reacted but managed to stay above support of 6150 today we can expect a sideways move and below 6150 a test of 6100 is evident.
6050 is the traling sl for daily longs below that serious selling else this would be taken as a profit booking..

happy trading..

Sunday, May 19, 2013

>Nifty premarket 20th may

Hi friends,
                    Nifty continues to move up inching closer to 6200-6220 which is the resistance for current up move if it maintains 6144 the up move continues else first sign of profit booking emerges.
happy trading...

Friday, May 17, 2013

>Nifty premarket 17th may

hi friends,
                  Nifty continued its up move yesterday and its reaching the trend line to the upside resistance which comes near 6200-6220 need to see the reaction to ascertain further move .
 The daily chart continues to target 6250-80 as shown in below chart.
Happy trading...

Thursday, May 16, 2013

>Nifty premarket 16th may

Hi friends,
                    Nifty  move yesterday confirmed that an abc finished at low of 5980, My expectation was we would test 5950 atleast before reversing but this reversed too soon plus with great strength and we have already conquered the previous high.Will wait for a day or 2 to ascertain the local count
bigger picture remain abcde what i showed in this post  NIFTY .

Happy trading...

Wednesday, May 15, 2013

>Nifty premarket 15th may

Hi friends,
                   Nifty after a steep fall yesterday full day consolidated in a range ,It can be either 4th or an x if abc finished at low,Today we will know about it, By the look of it,and by experience have seen the more the time it takes probability of X becomes high.The resistance comes near 6045-6050,support for the day 5980.
happy trading...

Tuesday, May 14, 2013

>Nifty premarket 14th may

Hi friends,
                      Nifty topped in 6120-6150 range as anticipated, now below 6040 nifty can be sideways to down for the day support comes near 5950-45 .
happy trading!!

Monday, May 13, 2013

>usdinr Elliotwave analysis

Hi friends,
                   USDINR buy call is doing good 53.50 to 55  old post usdinr,I expect this wave to finish near 56 and reverse.
Once usdinr takes resistance near 56 a short trade emerges and we can target back to 53 levels.
We could be making a flat correction in B wave ,Trailing sl of 54 should be maintained for longs.

happy trading...

>Nifty premarket 13th may

Hi friends,
                       Nifty followed the exact move had anticipated for Friday a fall to start with and ending with a rally to new high nifty ,Now with 6120 being crossed abcde is a reality.
As of now 6022 is the stop loss for all longs 6120-6150 i expect this upmove to topout for short term if 6150 is taken out then i would rework the things.
happy trading..

Friday, May 10, 2013

>Nifty pre market 10th may

hi friends
                 nifty continue to move in this two expanding lines with combinations of abc
this would violate this if 6020 goes else we continue to target 6100-6120 .
hold longs with 6000 as stoploss

happy trading...

Thursday, May 09, 2013

>Nifty premarket 9th may

Hi friends ,
                   Nifty continues in e leg 6100-6150 max potential for this wave,If it goes above then
will have to consider alternate count
 lets see the move today to see further picture.Below is the alternate count if we breach 6120.
happy trading,,

Wednesday, May 08, 2013

>Nifty premarket 8th may

Hi friends,
                      As shown in yesterdays post nifty had a nice rally for e leg
This e has a potential to see 6100-6150 ,Todays move would be important to ascertain the further picture

 now below 5970 only weakness arises .
Happy trading..

Tuesday, May 07, 2013

>Nifty pre market 7th may

Hi friends,
                     Yesterday nifty squeeze continued for full session now the range has reduced
looking at the whole structure the following wave count could be a possibility if we sustain above

6010 ,Below 5930 nifty would be negative and can target 5800.If both levels hold we continue to be in a small range.

happy trading.!!

Monday, May 06, 2013

>Nifty intrday 6th may

Nifty is getting squeezed as shown in the chart below with lower tops
trend line breaks would produce fast move down..

>Nifty premarket 6th may

Hi friends,
                  In my previous post i had mentioned 5980-6000 level for nifty top for the current upmove
nifty managed to cross 6000 for a brief period of time and fell back i reckon a top is in place .
A sideway move to test the top again is a possibility as shown from the hourly chart.
The more the time nifty spends here it would make me think its some sort of corrective wave up
rather than an impulse up.
 The below daily chart shows the daily support of nifty its likely to test 5800 where the support comes
the exhaustion is seen in nifty ,Lastly we have seen sectors are not moving in unison so expecting
a clear trending move would be futile.

Trade wisely!!

Thursday, May 02, 2013

>USDINR analysis

Hi Friends,
                   In my last post about usdinr had mentioned about a fall towards 53.50 today we
did 53.63.Here the risk reward for a long trade looks favorable .
last post USDINR wave structure would be invalid if  the usdinr goes below 52.80
Tomorrow being rbi policy day volatility would be young.
trade wisely