Last Leg of Fall !!!

Finally Nifty took its shape as a-b-c-d-e as marked on chart to end its sw(4) journey, as it tested most of our Patience and left the air with lot of un-confirmed bad news or Rumours. As I was saying for the last 3 days 5306 which played as a crucial resistance and made nifty to fall suddenly upto 5186. Now Nifty should end its sw(4) near 5110 or 5093 next week. Magical Last upmove of sw(5) will start any time next week once it touches the Bottom Trend like as marked with an Arrow on chart as the bad news or rumours will be forgotten and Nifty may travel upward with new force. Lets See Next Week. Till then Wish You all a Very Happy Week end and Cheers!!!

Cat on a Wall

As I gave Yesterday Nifty today touched 5289.3 which was near to 5290, But failed to touch 5306. As given on Chart here Nifty has Two important Gaps to be filled and Crosses for a Healthy Upmove. Even today closed below 50Hr Moving Average does not seems to be a good Sign for Bulls. Tomorrow 5306 & 5347 are the major Road Block for Bulls. Cross above these levels may be a Bulls Trigger - else we may see Nifty to move towards or near to 5000 level soon. Infosys Result & Week End closing tomorrow makes an Interesting day ahead. Cheers!!!

Still More Hurdles ?

Nifty Showed some Recovery in the later part of the Trade today. Support 5188 still on Hold. But on going Structure suggest a-b-c, where we are in sw(b) now. An Upmove upto 5306 possible Tomorrow. As today I told to Buy Nifty above 5210 with Support as SL for a Target of 5250 & 5290. First Target Achieved in the first part of the Trade. Tomorrow 5306 Visible on chart. In Case Nifty able to Breaks and Trade above 5306 with Volume, further upmove and Good short Covering not ruled Out. Nifty may Try to Jump and Show Strength above 5338-40 on Spot as its a Clear Bulls Trigger. Lets See!!!

Confusing ?

* Have differentiated Nifty with 2 alternative Counts -
* Yellow Color count & arrow to suggest that 5228 which is 61.8% retrace should Hold on closing basis, which says sw(5)(2) was done for up move.
* As said Yesterday 5188 if Breaks then the alternative count on white color may come into a-b-c-d-e pattern - On which Nifty may touch 5080.

Get Set - Can't Go Still ???

Yes, Nifty fell more than what I predicated last time, Now the fall has retraced exactly 61.8% of previous raise as marked on chart. Now if today downside is sw(2) then Nifty should fill the 2 gaps left to avoid 'Island Reversal' Fall. Tomorrow if 5228 got broken then Last support should be at 5188 - below this level my counts became Invalid and alternative count should come into effect. Lets wait and see!!!

Get Set Go

As I wrote on Wednesday, closing was above 5320 as sw(2) seems to have completed as marked on chart with a-b-c, 'c' has retraced 50% of 'a'. Also a valid break out above the channel seems to be encouraging for Bulls. Monday Bulls should break above 5365 to break the above channel to 'Get Set Go'

Above Eod Chart shows sw(4)or(B) got completed and sw5(3) or sw(C)(3) should start if 5306 holds next week. Wednesday nifty touches 50dma (5307) and closes above is a good sign for Bull. Next week if Bull able to cross 5365 then "Get Set Go"

Need Some Consolidation ???

Yesterday I wrote 5320 as Resistance - which was cleared today by a Gap up. Now Resistance became supp as shown on chart. Also Nifty out of Channel - seems to be need some consolidation as 5380 also working as a Resistance. Tomorrow if the Gap get filled without breaking 5320 then we may move up firmly for Next Target on Nifty. Tomorrow is the Week end closing as there are 2 days Trading Holidays - Interesting things may happen? Lets wait for it. Cheers!!!

HDIL Call given on Yahoo Messenger on Friday - to Buy above 88 with SL of 79. Target 94 & 104. Today got triggered. Now as per Chart here - I hope Sw(2) has done with 61.8% Retracement of Sw(1). As there is a Break Out on Chart - I am Bullish on this Stock on coming day for the Targets

VIP Ind - Call given today on Yahoo Messenger to Buy at 103.75 - Stock moved on Intraday upto 109.4 - I'm Still Bullish with a Target of 114 & 125

Resistance at 5320-30

Nifty facing a Stiff Resistance between 5320-30 - Should break above for further Up move.

Give above is 5 Mins chart - Price travelling inside the Channel - Breaking this channel - Nifty may get its first support at 5285 level which is 23.6% retracement of this up move.

Bulls to Trigger Next Week ??

Nifty Passed 3 Triggers from Bulls as marked on Chart. Now 5340 / 5385 Should be Crossed for the Bulls to Trigger Next Week. RBI meet to Decide on Interest Rate will decide the Trend. As I said on Yahoo Messenger on Clients Nifty Rallied nearly 130 Points to reap the Profit.

Tata Steel - I have been advising on Yahoo messenger as well here to buy from 450 level with a SL of 438. As per Chart given here, Next week if Crosses 468 - then Sky is the Limit. Since the Stock is undergoing 3rd Wave - I am highly Bullish on this Stock in coming days.

Advised clients to Buy Yes bank from 364 Level. Bulls to Trigger above 374. Another Stock which I am Highly Bullish as is also on 3rd wave. Lets wait for the Interest week ahead. Cheers!!!

First Trigger Today ?

As I wrote Yesterday, today it was an Roller Coaster day with Extreme Volatile. Nifty made a Low of 5136 which I wrote Yesterday as 5140. Today first trigger given above 5164 as market on Chart. We need 2 more Break Outs as 5220-30 & 5270-80. Entire Scenario may Become Bullish Once Nifty able to break and trade above 5340 Only. Till then Choppiness with volatility may continue.

Buy call given on yahoo Messenger Yesterday and today also with a SL of 438 on Closing Basis. First Target 468-70 and 500+ Soon. Cheers!!!

Trigger it Tomorrow ?

Nifty seems to be making more and more complicated waves every day. Breaking the Yellow lines @ 5180 may take Nifty to white line which may be 5140-5150. Upper side Yellow line should be above 5110-20 for a move up to 5230-40. Bulls gain strenth Only Above 5270-80. Heavy Selling may emerge if breaks below 5140. Expiry day may give more Volatile so Get Ready for a Roller Coaster, because tomorrow is a 'Trigger day'. Cheers!!!

Bears fails to Break 200dma - Seems like a double Bottom on chart - as of now it seems A-B-C got completed. Nifty should break key Resis 5280 & 5330 to confirm its Strength. Lets see

Near 200dma

Nifty Near 200dma - Broken important Trend Line - May Target for 5120-40 & 5040-5080.

Any thing Left for Bulls ???

As I said on Last Friday - break below 5172 fall can be there.Refer Friday Post. But today we will find out Is there any way still Open for Bulls, Yes there is!!! as per chart attached above its still sw(5)(2) is on like abc-x-abc-x-abc. Two possibilities in this count. 1) sw(2) is completed and sw(3) started or (c) of (5) is still left. as marked with arrow. If 5330 broken then sw(3) is confirmed up move continuous else a fall to complete (c) and upmove to start as marked with chart. Counts become Negated if Breaks below 5172.

Daily Chart shows there is a Possible Flag formation. 200dma & 38.2% Retracement may give support next week. Bulls should break above the channel for a strong upmove. Lets wait!!!

Bears Came Back !!!

Yes Bears took Upper Hand on Bulls - as today's fall has Negated previous count and I have Re-counted with the Previous alternate sw(4). Here I have attached Chart with full sub Count of sw(4) A-B-C. Todays fall confirmed that we are in sw(4)(c). It seems we are on the last leg of fall ie..sw(4)(c)(5). As shown on Chart we are heading towards (Target1)5120 after breaking 5171 which was the nearest Bottom. As sw(A) has 457 points then sw(C) must fall from 5499.40 - 457 = Target2 5042. Lets see!!!

Bull Bang with Break Out

Yes, Bull today Bang with two good Break Out as shown on Chart. Today also alerted all the client on Yahoo messenger to buy above 5297, Nifty Zoomed to a High of 5371. Two Targets 5335 & 5366 got achieved. Tomorrow 5397 & 5342 need to take out for entering into a Bullish Mode. Lets wait and see how the Bull is Stronger enough to Break these Levels. Cheers

Tata Steel also Break Out..Let See the Bulls Play Tomorrow.

Need a Strong Break Out for Bulls

As written Yesterday Nifty did not violated the 78.6% Re-tracement on closing basis as shown on Chart. Seems like a double bottom also. Tomorrow nifty need to break above the channel for a Interim Bullish as marked on chart. Above 5297 may give a Break out for up move up to 5335 / 5366 / 5397 & 5442. In Case of Breaking on the Lowe side as written Previously - this counts get Negated and Bearish counts should be Viewed. Lets Wait and See.

Retracement still On. Still Hope on Bulls

IHS failed. But still Hope on Bulls. sw(2) seems to be retracing 78.6% on sw(1) which is exactly today low 5239.Also ongoing sw(2)(c) is alomost doing 161.8% of sw(2)(a) which is 5225 as marked on chart. These two supports may give boost to Bulls tomorrow, ELSE these counts gets Negated and should follow the Alternative Count for continuation of sw(4).
Lets wait and See

Last Hope for Bulls

IHS broken today. Even though still inside the Channel as marked on chart.
Last support exist at 5294, if breaks then fall upto 5230 to fill the gap as marked on chart.
Lets for Monday. Cheers!!!

IHS on formation - Supp 5330-5335

As written Yesterday - Nifty broken 5420 and achieved the Target 5370.
Now Nifty seems to be forming a IHS as marked on chart. If able to get support at 5330-5335, then upswing should be fast and furious. Upswing shall be upto 5410 / 5460 / 5500. Since tomm is a Budget day, more sports left to watch. Cheers!!!