Morning !
I am posting almost after 2 and a half weeks. All this time i have been waiting patiently for NIFTY to give a significant breakout on upside. The low 7678 made on 6th May has been acting as a strong support and the high made at 7940 on 17th May was acting as a strong resistance on upside. All this time NIFTY has just been wandering in zone of 7700-7900 tapping on everyone's patience. It tried to give a break out on upside on 9th and 10th May but failed, again on 16th and 17th May but failed. But yesterday it's endeavor to breakout above 7940 and claim new high above that has given the confidence again for a new high above 7992 though after 2 weeks of zig zag movement.
I re-iterate from last week "From 7678 there are four levels which may be achieved by NIFTY before the correction of the wave started from 6825 starts. these are 8000-8050-8150-8250."
I still have the same view that "Missing 100 odd points is OK instead of sitting on top of the trend and wait for panic sell later when the reversal happens."
Advising everyone that if you are long in NIFTY then please the moment NIFTY this time makes a new high above 7992 start wrapping up your positions. I mentioned the same that i would not advise anyone to sit in longs in 8225 zone, the same stands revised by further 100 points down to zone of 8125-8150.
For BANKNIFTY it may top around in zone of 17400-17500, or if were to guesstimate then i would say whenever NIFTY reaches 8150-8250 zone.....just come out of banknifty wherever it is.
Happy Trading !
I am posting almost after 2 and a half weeks. All this time i have been waiting patiently for NIFTY to give a significant breakout on upside. The low 7678 made on 6th May has been acting as a strong support and the high made at 7940 on 17th May was acting as a strong resistance on upside. All this time NIFTY has just been wandering in zone of 7700-7900 tapping on everyone's patience. It tried to give a break out on upside on 9th and 10th May but failed, again on 16th and 17th May but failed. But yesterday it's endeavor to breakout above 7940 and claim new high above that has given the confidence again for a new high above 7992 though after 2 weeks of zig zag movement.
I re-iterate from last week "From 7678 there are four levels which may be achieved by NIFTY before the correction of the wave started from 6825 starts. these are 8000-8050-8150-8250."
I still have the same view that "Missing 100 odd points is OK instead of sitting on top of the trend and wait for panic sell later when the reversal happens."
Advising everyone that if you are long in NIFTY then please the moment NIFTY this time makes a new high above 7992 start wrapping up your positions. I mentioned the same that i would not advise anyone to sit in longs in 8225 zone, the same stands revised by further 100 points down to zone of 8125-8150.
For BANKNIFTY it may top around in zone of 17400-17500, or if were to guesstimate then i would say whenever NIFTY reaches 8150-8250 zone.....just come out of banknifty wherever it is.
Happy Trading !
Abhishek ji..as your upside targets have reached..can we short nifty ?
ReplyDeleteXon: You can call me just Abhishek.....i think shorting should be done at 8265 with SL of 8350 for the time being........and targets for downside minimum 7200....would let you know when the time comes.
DeleteXon: You can call me just Abhishek.....i think shorting should be done at 8265 with SL of 8350 for the time being........and targets for downside minimum 7200....would let you know when the time comes.
DeleteXon: You can call me Abhishek......shorting should be done at 8265 with SL of 8350 and target of 7200...would let you know the estimated time for shorting and downside both when the time approaches near.
DeleteThank You Abhishek for the info..do post when to short..thank you.
DeleteAbhishek sir, good day!
ReplyDeleteNifty in your topping zone now. Have bought puts...will wait and see..
ARUN VIJAYAN: Just share your positions as in the strike price, the buying price and the quantity....would keep a note of it and update you when the right time comes for averaging or booking profits.
DeleteFirst of all, thanks for your responses. 8000 puts at 82. HDFC 1260 puts at 39, this one went till 29 and closed around 34. Can you please inform if I should exit or any SL.
DeleteAbhishek sir, good evening, previously mentioned positions were closed on Tuesday itself and now holding TCS puts 2650 strikes. Please inform about the possible targets for June for TCS. Thank you!
DeleteARUN VIJAYAN: TCS looks a bit strong right now....may reach zone of 2700-2730 on upside in coming week or 10 days...only a significant drop below 2595 would trigger fresh downtrend in it.
DeleteThanks..exited it in small profit.
DeleteU again rock sir.wanted to knw wen can we short nifty n bn n wat r d possible targets now on downside
ReplyDeleteNeet: Thanks for appreciation....you may call me just Abhishek..... :-D ......for NIFTY 8265 short with SL of 8350 these are SPOT levels....and targets would let you know.....7200 to begin with....timing for both entry and exit will let you know.....but by no ways would suggest you buying.
Deletehi
ReplyDeleteExcellent Analysis .... One request to make ... since many people follow you ... I was tracking your post of 02nd May and since then there were no other post .... I got confused as to the analysis still held good for May expiry .... possible for you to post more often ?
ReplyDeleteAnand.Khakhar: Thanks for the appreciation.....i truly understand the time lag i had between my last post and prior to that one was 2 and half weeks,which i agreed in the very first line of my post....regarding the timing even last time when buying was given at 6840 zone for 500 points it took only 3 days just like this time from 7715 but that time i mentioned on 29th Feb and the targets met within 2 to 3 days...this time it has taken 2 to 3 weeks because of the zig zag movement......i can let you know the wave structure but timing it day on day and explaining it day on day is quite tedious....would update my frequency...the only reason that i write less is that my targets are big be it on up or down so the view remains intact till the time the levels are being maintained but achievement of those levels is all about time which genuinely is not in anyone's hand....rest feedback taken about the frequency of my posts..that i will take care from now on....thanks
DeleteThank you .... you rocked ....
ReplyDeleteAnand.Khakhar: Thanks again.
DeleteSir also ur views on holding portfolio stocks.wen is d correct time to dump d portfolio??
ReplyDeleteNeet: That is very subjective because...because each stock has its own wave structure...also what is your porfolio and what is your target that you want to achieve with it....please share your holdings portfolio with me on my mail abhisheksaddi@gmail.com to let me see individual stocks and come back to you on it.
DeleteThanks for your detailed reply and more important for patience to answer our querries .... who ever reads this will surely benifit ... god bless u ....
ReplyDeleteThanks for your detailed reply and more important for patience to answer our querries .... who ever reads this will surely benifit ... god bless u ....
ReplyDeletePossible we connect .... 09825207651
DeleteSir I v shorted nifty @7880.can I get my shorted price.i can hold d shorted position.wats ur intake.thanx
ReplyDeleteGinni: Thanks for posting here...i was unable to reply to your messages over mmb....apologies for that....yes hold your shorts as of now.....if not your price then you should get 8000-7950 range...SPOT LEVELS....
DeleteOk sir but plz do let me knw wat to do around 8000 levels ??
ReplyDeleteGinni: Yes, i would let you know for sure....let us wait for that time to come.
DeleteSir any latest update?? As market is not ready to fall
ReplyDelete