Recall

My 2013 prediction of Nifty Targets has almost come true!! The chart is presented below and still Lying in Nifty Weekly Menu option!

Nifty and Banknifty Future Key Level(s) for 31st July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Negative) 

Trade This  [ 9997-10024 - (Must touch) -  10061-10087 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 10024.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24837-24860  - (Must touch) -  25009-25031 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24897.  

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Update on Nifty Spot

Nifty Spot is clinging on the uptrend line as of now a convincing close below the 9665 level along-with bias change needed today for confirming d-leg commencement else this might  be a b-leg withing c-leg of the main 3rd corrective diametric.

Update on Nifty

We are probably on the d-leg down on Nifty Spot since yesterday top. Now if the leg by any chance retraces the c-leg to below 9792  this would be correcting the entire upmove from 7893.80 else after d-leg completion e-leg, f-leg and g-leg remains to be completed.

Nifty and Banknifty Future Key Level(s) for 28th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Negative) 

Trade This  [ 10018-10045 - (Must touch) -  10082-10108 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9992.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24895-24917  - (Must touch) -  25066-25089 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24840. 

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Nifty Spot EOD 27th July, 2017

Chart is self explanatory!

Update on Nifty Spot

Nifty c-leg of the 3rd corrective up is ongoing and today is the 4th day and is at a significant resistance level 10100 as par Gann. A correction for d-leg can now set in tomorrow / Monday /anytime for the d-leg so caution starts.

Nifty and Banknifty Future Key Level(s) for 27th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9978-10005 - (Must touch) -  10041-10068 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 10022.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24589-24612  - (Must touch) -  24761-24783 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24682.  

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Nifty and Banknifty Future Key Level(s) for 26th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9929-9956 - (Must touch) -  9992-10019 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9986.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24427-24449  - (Must touch) -  24598-24620 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24549.  

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Nifty and Banknifty Future Key Level(s) for 25th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Negative) 

Trade This  [ 9911-9938 - (Must touch) -  9974-10001 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9971.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24275-24296  - (Must touch) -  24446-24469 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24391.  

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Update on Nifty

Now 9838 should hold for Nifty to start the c-leg up convincingly. On the other side Banknifty is looking quite overbought! 

Nifty and Banknifty Future Key Level(s) for 24th July, 2017

TRADE the Levels, Charts Can Adjust!

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Nifty Future (Bias - Negative) 

Trade This  [ 9866-9892 - (Must touch) -  9929-9956 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9913.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24151-24173  - (Must touch) -  24322-24344 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24259.

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Nifty Spot EOD 21st July, 2017

Nifty is now in the b-leg of the 3rd corrective of which a-leg was from 9948.75 - 9928.20 and b-leg started from 9928.20 and is probably forming a triangle.  Previous b-waves took maximum 6 days so we wait to see when this one concludes with a move up above 9928.20. Triangles are difficult to trades and best for deep in the money option writing.  The third corrective like to form another diametric.

Nifty and Banknifty Future Key Level(s) for 21st July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Negative) 

Trade This  [ 9843-9870 - (Must touch) -  9906-9933 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9906.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24138-24161  - (Must touch) -  24310-24332 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24267.  

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Nifty and Banknifty Future Key Level(s) for 20th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Negative) 

Trade This  [ 9874-9901 - (Must touch) -  9937-9964 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9922.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 24112-24134  - (Must touch) -  24283-24305 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24181.

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Nifty and Banknifty Future Key Level(s) for 19th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Negative) 

Trade This  [ 9801-9828 - (Must touch) -  9865-9891 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9855.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23961-23984  - (Must touch) -  24133-24155 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24091.  

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Confirmation

Yes b-leg of the third corrective have started with the EOD closing for Nifty.

Renewed position after ITC news

If Nifty gaps down and closes below yesterday's low that would indicate b-leg of the third corrective commencement after completion of a-leg at the channel top.

Nifty EOD 17th July, 2017

Nifty currently in third corrective a-leg and targetting price / time similarilty with a-leg of 1st corrective.  Let's see what comes up.

Nifty and Banknifty Future Key Level(s) for 18th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9888-9915 - (Must touch) -  9951-9978 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9915.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23930-23952  - (Must touch) -  24101-24124 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23952.

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Nifty and Banknifty Future Key Level(s) for 17th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9855-9881 - (Must touch) -  9918-9945 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9948.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23881-23903  - (Must touch) -  24052-24074 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 24062.  

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Nifty and Banknifty Future Key Level(s) for 14th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9843-9869 - (Must touch) -  9906-9933 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9901.  

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Banknifty Future (Bias - Positive)

Trade This  [ - 23783-23805  - (Must touch) -  23954-23976 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23923.  

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Nifty and Banknifty Future Key Level(s) for 13th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9777-9804 - (Must touch) -  9841-9867 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9870.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23624-23647  - (Must touch) -  23796-23818 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23818.  

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Nifty and Banknifty Future Key Level(s) for 12th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9742-9769 - (Must touch) -  9806-9832 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9806.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23520-23543  - (Must touch) -  23692-23714 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23640.  

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Nifty and Banknifty Future Key Level(s) for 11th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9732-9759 - (Must touch) -  9795-9822 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9801.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23566-23589  - (Must touch) -  23738-23760 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23731.  

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Update on impact of SEBI Circular

Most people are somewhat confused and are anticipating what will happen to the indices w.r.t SEBI circular mainly due to the fact something of this sort has happened for the first time! The best one I have come across is this :

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* Index Future OI Rs 278 bn 
*Stock Future  OI Rs 1007 bn
*of the above FIIs is Rs 20000 cr in index future. 
and for the  stock futures Rs 70000 Cr. 
* Foreigners mostly use the futures segment for shorting and therefore most likely covering to tune of Rs 400 - 450 bn can be expected...note they hold Rs 200 bn in index future and Rs 700 bn in stock futures. One can conservatively assume 50 percent from ODIs.

* So going forward next two weeks will see significant increase Volatility and  Impact cost as future related positions in ODIs will have to be compulsorily unwound.

 * Can see short covering in the sector like Pharma/Telecom/PSU Bank where FIIs  have decent short positions.

 * also this will lead more direct participation.


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Short Covering means the rise in prices so the impact could be quite the opposite to my expectation and charts will change in such a case.

Nifty and Banknifty Future Key Level(s) for 10th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9623-9649 - (Must touch) -  9686-9713 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9670.  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23362-23384  - (Must touch) -  23533-23556 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 234464.  

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Nifty Spot EOD 7th July, 2017

c-leg down of nifty 2nd x-wave likely now on Monday supported by SEBI P-note ban.  Now that will be true if Nifty spot is able to take support above 9075.15 preferably in 9200-9400 range then after this another round of upmove will take place as 3rd corrective else a deeper correction is price and time likely.  Let's see what comes up! Charts can change accordingly as well.

Nifty and Banknifty Future Key Level(s) for 7th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9628-9655 - (Must touch) -  9692-9718 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9641 .  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23384-23406  - (Must touch) -  23555-23578 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23402.  

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Update on Nifty and Banknifty

Upon failure to cross the Previous high by today the Indexes would be considered to be still in incomplete x-wave and previous fall was a-leg down of x-leg and now it is the b-leg up of x-leg.

In hourly chart of Nifty Spot the retracement is already slower hence this may be considered as the b-leg of the 2nd x-wave.

Nifty and Banknifty Future Key Level(s) for 6th July, 2017

TRADE the Levels, Charts Can Adjust!

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Nifty Future (Bias - Positive) 

Trade This  [ 9600-9627 - (Must touch) -  9664-9690 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9667 .  

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Banknifty Future (Bias - Positive)

Trade This  [ - 23304-23326 - (Must touch) -  23475-23497 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23466.  

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Nifty and Banknifty Update

2 days to a new high (Preferably today itself or by gap up early tomorrow) for confirmation of a third leg up from 2nd x-wave completion at 30th June, 2017 lows.

Nifty and Banknifty Future Key Level(s) for 5th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9579-9606 - (Must touch) -  9642-9669 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9629 .  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23159-23182 - (Must touch) -  23331-23353 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23284.  

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Nifty and Banknifty Future Key Level(s) for 4th July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ 9577-9604 - (Must touch) -  9640-9667 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9640 .  

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Banknifty Future (Bias - Positive) 

Trade This  [ - 23215-23237 - (Must touch) -  23386-23409 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23386.  

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Nifty Spot Daily EOD 3rd July, 2017

A probability of a 2nd x completion and 3rd corrective up-move is now under consideration which is subject to making a new high on the index within next 3/4 days incl. today. Let's see!!

Challenging task for Nifty and Banknifty

If Nifty and Banknifty can make a new high with 5 days including today then the chart changes to a fresh upmove with last friday's low as the completion of the second x-wave. The case for a third corrective upmove can be considered then.

Update on Nifty Spot

9535.8-  9575.8 Critical range for the day and close above 9536 is must to change bias to positive.

Nifty and Banknifty Future Key Level(s) for 3rd July, 2017

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Negative) 

Trade This  [ 9472-9499 - (Must touch) -  9536-9562 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 9585 .  

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Banknifty Future (Bias - Negative)

Trade This  [ - 23104-23127 - (Must touch) -  23276-23298 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 23333.  

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