Update on Nifty and Banknifty Spot

10577-10607 is the main resistance for Nifty Spot and sustaining above it is the real challenge
25587-25667 is the main resistance for Banknifty Spot and sustaining above it is the real challenge

Big move in Nifty with close above 10703 only

Update on Nifty / Banknifty

18 days of correction done from top may be another 6/7 days left for volatility.

Nifty closed at crucial middle point!  10490!

Update on Nifty Spot

10461 crucial from here for Nifty Spot Intraday. If held more upsides.

Nifty Spot Update

10434 plus strong and 10490 plus stronger else weak for Nifty Spot!

25101 plus strong and 25327 plus stronger else weak for Banknifty Spot!

Update on Nifty Spot

Trade low until price confirmation. Designed to take away traders money and make them miss the rally!!. Stock buying fine Indexes avoid till trend gets clear from here!

Update on Nifty Spot

Close above 10430 will be good !

Nifty Spot Update EOD 20-2-2018

Nifty is showing bullish positive divergence in daily chart and Candlestick patterns in both daily and weekly has positive implication holding 10276-10303 zone for Nifty Spot!

Update on Nifty Spot

10276 minus closing Weakens Nifty Spot. Let's see!!

Update For Nifty Spot

10397 plus sustaining for Nifty Spot might encourage bull to pullback further!!  Watch this post 2 pm!

In corrective Market both pull backs and pull-ins are deep down!!

Pullback further will convert this from Zigzag to a triangle and the low was done with already. Caution warranted if 10397 plus EOD close is there.

Update on Nifty and Banknifty

Both the Indexes are now in serious support zone. Some time correction still left. Nifty should avoid closing below 10276 but it might possibly go down below it intraday. A major recovery likely after 2/3 days including today! Nifty bulls will be happy if it is able to get above 10490 level as soon as possible. High probability of final low to be made for this time correction by the Indexes this week!

Gann Support for Nifty and Banknifty

10244/10250 Big Gann Support for Nifty and low risk buy Zone for 50% qty. 
10350 plus bigger Gann Support gets activated

24648/24900 Big Gann Support for Banknifty and low risk buy Zone for 50% qty.

If faster retracement is protected bounceback may be good from the above kind of levels. 

Next Month derivatives better!

10276 minus closing should be avoided by Nifty Spot.

Weekly Nifty Spot Update

Weekly candlestick pattern suggests a trending move may come soon!  for a good directional move of about 4-5% within 10 weeks from breakout.   The upside breakout is above 10703 and downside breakout is below 10276. Now in no trade zone but smart trading can be done in support - resistance zone.   

Middle Point about 10490!

Spot Index View

Holding the range 10350/10400-10600, Nifty being at the lower end of the support might pullback again!  10500-10550 Strong resistance.

Holding the range 24800/25000-25700/26000,  Banknifty being at the lower end of the support might pullback again! 25350-25500 Strong resistance.

Buy as close to the lower end as possible.

Update

Tricky market so oversold bounces can come next week!

Update on the Indexes

Nifty Spot momentum increases staying below 10439
Banknifty Spot momentum increases staying below 25054

Looks deep down for the indexes if the quicker retracements are done as informed earlier!

Update on Nifty and Banknifty Spot

Summarily Nifty has to retrace 10033 within 12/15 days and Banknifty has to retrace 24617 within 12/15 days and both Indexes may have to be watched together. So, if about 25701 (25923 - safer) and 10600(10667 - preferably) if not taken out comfortably the danger of the above retracement will remain. Lower side closer to 10425 for Nifty and closer to 25000 for Banknifty are big supports. The correction if happens will be quiet deep in case the level gets broken quickly. So, within 6th to 9th March, 2018 we remain prone to deep downsides. Till then only intraday trades, positional trades are risky for gap-up and gap-down situation. Enjoy the buy on dips and sell on rallies unless things gets directional !

Update on Nifty and Banknifty Spot

If Nifty / Banknifty  is able to recapture the higher side of the given level(s) then we are done with the lows and it may at best turn sidewise and expect a bigger pullback.  Downside will get limited.

Update on the Indexes - Nifty and Banknifty Spot - EOD 14-2-2018

Nifty Spot
10456-10501 Crucial on the downside
10577-10591 Crucial on the upside

Banknifty Spot
25212-25342 Crucial on the downside
25811-25921  Crucial on the upside

This is a highly complicated trading environment and day to day trading time. Broadly 10400-10600 range trading going on in Nifty and 25200-25800 in Banknifty.

Range breakout will determine the next move. Expected b-wave after the last fall of 6 days enters the 6th day today.  Friday will be crucial.

Update

Sitting out patiently for opportunities or being with the trend without panicking is the art of living in the stock market!!

Update on Nifty and Banknifty

Sell all rallies till 10600 plus and 26000 plus closes are achieved and held for 2/3 days minimum.

Corrective periods are for trading as well so sell on rallies buying the oversold situations are also needed.

Update on the Indexes - Nifty and Banknifty

Firm close and sustainence above 10577 and 25921 will be key EOD basis going forward for Downtrend continuation or deep correction ! It will remain open if the indexes can't take them out.

Nifty and Banknifty Spot Update

Nifty Spot is a sell below 10553 Banknifty Spot is a sell below 25954, keep selling all rallies till Indexes firmly recovers above the levels!  Observe the indices together.  

Gann Resistances as before at 10600 and 26000 for the Indexes.

Nifty Spot Update

Nifty move as expected!  Correction seems to be following a Daimond Diametric path. Expect high volality while going down.

Nifty Update

Weakness remaining and failure to recapture 26000 (banknifty) and 10600  (Nifty) will bring in good fall.

Nifty Update

Nifty range could be 10650-10750  to 10100-10400  with huge volatility until March 2018.  If 10700 is attempted. Otherwise deeper correction likely.

Update on Nifty Spot

In oversold corrective phase, the periodic bounce backs will keep coming back hence one needs to be in the trading mode for daily profits.  For positional profit adding shorts on rallies important or just holding onto them is necessary.  The S/L and the targets are clear.

Update on Nifty Spot

Correction time likely to be long and we are likely to see deeper correction in the coming days unless 10667 is recovered and sustained from here.

Update on Nifty Spot and Banknifty Spot

Till such time 10600 plus closing and sustenance is achieved for Nifty Spot or 26050 plus closing and sustenance is achieved in Banknifty Spot it will be sell on rallies.

Update on Nifty Spot / Future

10244-10350 Strong Gann Support.  Some worry below this zone else we are game for some pullback.   The downtrend is not over till confirmation!

Update on Nifty Spot

Some cautious buying at today's gap down possible after first 10-15 minutes for trading purpose.  Structure confirmation needed for positional buying.

Nifty Spot Update

a-leg down for higher level [D]-leg might end tomorrow or day after and a bigger rally than today should come in thereafter as b-leg.

Nifty Spot EOD 2nd, FEb, 2018

About four-month-old C-Leg under Major [C]-leg has ended at 11171.50, which is also a key resistance for some short-term top.  Now we are in the D-Leg down under probable diamond diametric under Major [C]-leg that started from Dec 2016.  Expecting Nifty to come down to around 10300 level or test the thick black [B]-[b] line at least!!  Next 1-3 months stocks accumulation for next round of rally!  Expect high volatility and fast moves.

Nifty Spot Update

Broken Monthly Pivot (10868) Nifty Spot and Support zone is (10550-10600) only.  It is likely that higher level c-leg has ended and we have entered into 30 day correction.  Final confirmation will be retracement of 10666.75 within Tuesday or Wednesday first half.

Nifty Spot intraday update

Likely f-leg down of higher level c-leg is in it's 4th day today and may be 2 more days to go unless 10666.75 is fully retraced in faster time (within next 3 days)  then we would conclude higher level c-leg as over. So from Monday / Tuesday Nifty may move up towards the old highes as the g-leg inside higher level c-leg for 6 days or so.  Thereafter a month of correction (Time and / or Price) due !  We have to wait and watch.  Situation is highly balanced!

Update on Nifty Spot

Under the changed circumstances Nifty would have issues to short out.  g-leg up may not give as many points expected and might end in a failure as well.  We might be in for a correction for 30 days thereafter.  Let's spend the time due for now till correction.

Update on Nifty Spot

The previous correcting legs got 5/6 days and we finished about 2 days yesterday. So there is a possibility that correction may not be over and we are going up for smaller level b-leg within lower level e-leg earlier.  Let's see how it works out.

Nifty and Banknifty Future Key Level(s) for 1st Feb, 2018

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

Trade This  [ - 11010-11037 - (Must touch) -  11074-11100  (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 11083.  

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Banknifty Future  (Bias - Negative)

Trade This  [ - 27369-27391 - (Must touch) - 27540-27562 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 27545.  

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