SELL NIFTY AND BANKNIFTY AT CMP 8345 AND 18020 TARGET 8050 AND 17500 RESPECTIVELY....POSITIONAL
Have given a sell call at MONEYCONTROL MESSAGE BOARD MMB
Have given a sell call at MONEYCONTROL MESSAGE BOARD MMB
Thursday, June 30, 2016
UPDATE ON NIFTY AND BANKNIFTY'S TREND on 1st July 2016
Morning !
Referring to my previous posts since 17th June about NIFTY being 8350 and BANKNIFTY being 18077, today seems to be the day when both these targets should be met. As i write this blog BANKNIFTY has also made a higher high above 18051 currently at 18069.
As i have been mentioning that NIFTY has lot of levels to be achieved on upside irrespective of the BREXIT event, the same has been shown by the price actions in past 5 trading sessions.
Since the upside targets are met for the time being, i personally would want to come out of BUY and wait for SELL call as there is an intermediate correction pending.
Will updated the selling levels either during day or over the weekend.
Happy Trading !
Referring to my previous posts since 17th June about NIFTY being 8350 and BANKNIFTY being 18077, today seems to be the day when both these targets should be met. As i write this blog BANKNIFTY has also made a higher high above 18051 currently at 18069.
As i have been mentioning that NIFTY has lot of levels to be achieved on upside irrespective of the BREXIT event, the same has been shown by the price actions in past 5 trading sessions.
Since the upside targets are met for the time being, i personally would want to come out of BUY and wait for SELL call as there is an intermediate correction pending.
Will updated the selling levels either during day or over the weekend.
Happy Trading !
Wednesday, June 29, 2016
UPDATE ON NIFTY AND BANKNIFTY'S TREND on 30th June 2016
Morning !
Referring to my previous post on 27th June on the upside targets and the buying call given for both NIFTY and BANKNIFTY "BUY NIFTY AT CMP SPOT 8150 with TARGET of 8350 and SL of 8050 1:2 risk reward ratio BUY BANKNIFTY AT CMP SPOT 17777 SPOT with TARGET of 18077 and SL of 16666 1:3 risk reward ratio", NIFTY has a stiff resistance at 8283 and BANKNIFTY has a stiff resistance in the zone of 17805-17825-17870-17882. Any break above these levels/zone for both would trigger fresh break out for final targets of 8350 and 18077. While i would advise people to start booking profits in both either at these resistance levels or just above new higs for NIFTY above 8295 and for BANKNIFTY at 17900-17950 and step aside for the sell call later.
Happy Trading !
Referring to my previous post on 27th June on the upside targets and the buying call given for both NIFTY and BANKNIFTY "BUY NIFTY AT CMP SPOT 8150 with TARGET of 8350 and SL of 8050 1:2 risk reward ratio BUY BANKNIFTY AT CMP SPOT 17777 SPOT with TARGET of 18077 and SL of 16666 1:3 risk reward ratio", NIFTY has a stiff resistance at 8283 and BANKNIFTY has a stiff resistance in the zone of 17805-17825-17870-17882. Any break above these levels/zone for both would trigger fresh break out for final targets of 8350 and 18077. While i would advise people to start booking profits in both either at these resistance levels or just above new higs for NIFTY above 8295 and for BANKNIFTY at 17900-17950 and step aside for the sell call later.
Happy Trading !
MID TO LONG TERM CHART FOR NATURAL GAS
This is my first write-up for COMMODITY segment specifically for NATURAL GAS . NG
MID TO LONG TERM CHART FOR NATURAL GAS
NATURAL GAS OUTLOOK: NG looks on a bearish trend and trending down now from the top made at INR 201 and $3.019 on 29th June 2016
The chart below shows the WAVE counts of for one of the waves trending on downtrend. The potential top made today is looking like a short to mid term top for NG and should make NG go below the low made of $1.597 on 3rd March 2016 further to $1.30 and $1.00 in the coming 3 to 6 months.
People looking to create short mid and long term positional trades in NG should be on sell side for the time being and taking SL of $3.309 with a target of $1.3 to $1 from the current sell price of $2.888
Happy Trading !
MID TO LONG TERM CHART FOR NATURAL GAS
NATURAL GAS OUTLOOK: NG looks on a bearish trend and trending down now from the top made at INR 201 and $3.019 on 29th June 2016
The chart below shows the WAVE counts of for one of the waves trending on downtrend. The potential top made today is looking like a short to mid term top for NG and should make NG go below the low made of $1.597 on 3rd March 2016 further to $1.30 and $1.00 in the coming 3 to 6 months.
People looking to create short mid and long term positional trades in NG should be on sell side for the time being and taking SL of $3.309 with a target of $1.3 to $1 from the current sell price of $2.888
Happy Trading !
Sunday, June 26, 2016
UPDATE ON NIFTY AND BANKNIFTY'S TREND on 27th June 2016
Morning !
Referring to my two earlier posts on 14th and 17th June, about the upside targets of 8350 and 18077 on NIFTY and BANKNIFTY respectively. I had given my views on 14th that critical zone for NIFTY is 7980-7940 zone. But when NIFTY reversed from 8063 it had sufficed the requirement for downside and then moved upside again to breach 8295 and on Friday we witnessed what happened, post reaching 8285 again on thursday it reversed for downtrend and touched 7927 on low and closed at 8088.
Earlier too i was anticipating zone of 8000-7980 but when it reversed from 8063 it adhered to the rules and guidelines of EW but before breaking 8295 on top it again reversed and created lower low than 8063 at 7927, it still has retraced to a level of 7927 where it still adheres to EW the only difference is that instead of the correction of the wave starting from 24th May at 7715 till 8295 both the levels achieved by NIFTY on downside 8063 and 7927 became the A= 8063 B=8285 C=7927 for the upwave mentioned in the above line.
At pre open NIFTY today has opened at 8039, 50 odd points down. The targets remain intact on upside for 8350 and 18077 for NIFTY and BANKNIFTY with entry for NIFTY at 8000-8050 zone and SL of 7926 and for BANKNIFTY at 17350-17250 with SL of 17150.
The SLs this time have are a bit bigger as compared to my usual calls but the risk reward ratio again is worth it for both NIFTY and BANKNIFTY.
Remember this impulsive would breakout upside again as mentioned by me irrespective of the BREXIT event.
Happy Trading !
Referring to my two earlier posts on 14th and 17th June, about the upside targets of 8350 and 18077 on NIFTY and BANKNIFTY respectively. I had given my views on 14th that critical zone for NIFTY is 7980-7940 zone. But when NIFTY reversed from 8063 it had sufficed the requirement for downside and then moved upside again to breach 8295 and on Friday we witnessed what happened, post reaching 8285 again on thursday it reversed for downtrend and touched 7927 on low and closed at 8088.
Earlier too i was anticipating zone of 8000-7980 but when it reversed from 8063 it adhered to the rules and guidelines of EW but before breaking 8295 on top it again reversed and created lower low than 8063 at 7927, it still has retraced to a level of 7927 where it still adheres to EW the only difference is that instead of the correction of the wave starting from 24th May at 7715 till 8295 both the levels achieved by NIFTY on downside 8063 and 7927 became the A= 8063 B=8285 C=7927 for the upwave mentioned in the above line.
At pre open NIFTY today has opened at 8039, 50 odd points down. The targets remain intact on upside for 8350 and 18077 for NIFTY and BANKNIFTY with entry for NIFTY at 8000-8050 zone and SL of 7926 and for BANKNIFTY at 17350-17250 with SL of 17150.
The SLs this time have are a bit bigger as compared to my usual calls but the risk reward ratio again is worth it for both NIFTY and BANKNIFTY.
Remember this impulsive would breakout upside again as mentioned by me irrespective of the BREXIT event.
Happy Trading !
Thursday, June 16, 2016
UPDATE ON NIFTY AND BANKNIFTY'S TREND on 17th June 2016
Morning !
As per my last post on 14th for covering NIFTY for 175-200 points for the SELL given in range of 8230-8250....which lands in the zone of 8075-8050......though i was anticipating zone of 8030-8000-7980.....NIFTY reversed from 8063 on 13th June post breaking the range bound trading happening for 2 to 3 sessions. If someone had not got a chance to exit on 14th then yesterday could have been a lucky day for few.
Yesterday i posted this call on Moneycontrol MMB board: BUY NIFTY AT CMP SPOT 8150 with TARGET of 8350 and SL of 8050 1:2 risk reward ratio BUY BANKNIFTY AT CMP SPOT 17777 SPOT with TARGET of 18077 and SL of 16666 1:3 risk reward ratio . I mentioned the stop lost for both but did not mention that they were on closing basis, which is my bad. Please consider these two stop losses on closing basis for the upside targets intact. As i know that Banknifty's SL was taken away yesterday during intraday but it gave a closing just above the SL of 17666 (which also was a typo at my end as 16666) as it made a low of 17545.80.
My targets in terms of risk reward ratio are usually a minimum 1:2 and the SLs provided are for very strategic level which should be adhered. As of now the upside targets are both intact for NIFTY at 8350 and BANKNIFTY at 18077.
As mentioned in my earlier post that 8265 is a critical level for nifty to cross because the wave structure on upside looks incomplete. There are a lot of levels that need to be achieved by NIFTY (IRRESPECTIVE OF THE BREXIT/BREMAIN EVENT).
Stay tuned to ride this impulsive on upside with the same intensity when it broke 7777 and 7941.
Happy Trading !
As per my last post on 14th for covering NIFTY for 175-200 points for the SELL given in range of 8230-8250....which lands in the zone of 8075-8050......though i was anticipating zone of 8030-8000-7980.....NIFTY reversed from 8063 on 13th June post breaking the range bound trading happening for 2 to 3 sessions. If someone had not got a chance to exit on 14th then yesterday could have been a lucky day for few.
Yesterday i posted this call on Moneycontrol MMB board: BUY NIFTY AT CMP SPOT 8150 with TARGET of 8350 and SL of 8050 1:2 risk reward ratio BUY BANKNIFTY AT CMP SPOT 17777 SPOT with TARGET of 18077 and SL of 16666 1:3 risk reward ratio . I mentioned the stop lost for both but did not mention that they were on closing basis, which is my bad. Please consider these two stop losses on closing basis for the upside targets intact. As i know that Banknifty's SL was taken away yesterday during intraday but it gave a closing just above the SL of 17666 (which also was a typo at my end as 16666) as it made a low of 17545.80.
My targets in terms of risk reward ratio are usually a minimum 1:2 and the SLs provided are for very strategic level which should be adhered. As of now the upside targets are both intact for NIFTY at 8350 and BANKNIFTY at 18077.
As mentioned in my earlier post that 8265 is a critical level for nifty to cross because the wave structure on upside looks incomplete. There are a lot of levels that need to be achieved by NIFTY (IRRESPECTIVE OF THE BREXIT/BREMAIN EVENT).
Stay tuned to ride this impulsive on upside with the same intensity when it broke 7777 and 7941.
Happy Trading !
Monday, June 13, 2016
UPDATE ON NIFTY AND BANKNIFTY'S TREND on 14th June 2016
Morning !
My last post on 6th June mentioned that 8265 is a critical level for NIFTY. It made a new high above 8262 and touched 8294.95 on 7th June and reversed from there. NIFTY sell call given in the zone of 8230-8250 with an SL of 8350 and target of roughly 200 points probably should close today at 8230 assuming we make a lower low than yesterday of 8063.90.
On the other hand BANKNIFTY SL given of 80 points at 17750 got triggered the very same day as we all witnessed that it made higher highs till 10th June at 18051.50 but reversed sharply from there and yesterday touched an intraday low at 17527. BANKNIFTY if continues to sustain below 17666 can show some more weakness till 17350-17200.
I would advised everyone who shorted NIFTY in the range mentioned above should cover for 175-200 points as their might be a reversal from 8000-7980 zone.
Now the critical level is 7980-7940 zone for NIFTY, breaking below would trigger fresh selling for 7850-7777 zone. BUT that is only if we break 7980-7940 zone.
Let us wait to get more clarity after coming out of our shorts for around 8050-8030 levels.
Happy Trading !
My last post on 6th June mentioned that 8265 is a critical level for NIFTY. It made a new high above 8262 and touched 8294.95 on 7th June and reversed from there. NIFTY sell call given in the zone of 8230-8250 with an SL of 8350 and target of roughly 200 points probably should close today at 8230 assuming we make a lower low than yesterday of 8063.90.
On the other hand BANKNIFTY SL given of 80 points at 17750 got triggered the very same day as we all witnessed that it made higher highs till 10th June at 18051.50 but reversed sharply from there and yesterday touched an intraday low at 17527. BANKNIFTY if continues to sustain below 17666 can show some more weakness till 17350-17200.
I would advised everyone who shorted NIFTY in the range mentioned above should cover for 175-200 points as their might be a reversal from 8000-7980 zone.
Now the critical level is 7980-7940 zone for NIFTY, breaking below would trigger fresh selling for 7850-7777 zone. BUT that is only if we break 7980-7940 zone.
Let us wait to get more clarity after coming out of our shorts for around 8050-8030 levels.
Happy Trading !
Sunday, June 5, 2016
UPDATE ON NIFTY AND BANKNIFTY'S TREND on 6th June 2016
Morning !
Since my last post on 26th May 2016 about breaking 7940 on upside and giving confidence for making / reaching new high above 7992 and achieving levels mentioned 8000-8050-8150-8250. All have been achieved from 27th May till till 3rd June where NIFTY has made 8262 as top.
As per the calculation this current uptick should not surpass 8265 (which it has almost reached by making 8262).
There seems to be a correction pending now, a major or minor one that will be decided once some key levels break like 7940 on downside.
One can crate a short here SPOT LEVELS: 8250-8230 range with an SL of 8350 and a target of 8000 so almost as 1:2 risk reward ratio.....100-120 points stop loss and 200-250 points target.
The wave structure somehow looks incomplete on the upside, that is only decided till the time we hold 7980 in this fall.
Regarding banknifty, upside for me was till 17400-17500, which it has already surpassed by almost 200 to
300 points by making a high of 17762 on 3rd June 2016 Friday.
BANKNIFTY too can be sold here with a SL of 17750 SPOT level and target of 17350 and 17100. Risk reward ratio here is almost 1:4 or 1:6, 100 points SL and 400-600 points target.
Happy Trading !
PS: I usually post on achievement of certain important levels, both on upside and downside. If anyone has queries then i frequently respond to the posts on my blog.
Since my last post on 26th May 2016 about breaking 7940 on upside and giving confidence for making / reaching new high above 7992 and achieving levels mentioned 8000-8050-8150-8250. All have been achieved from 27th May till till 3rd June where NIFTY has made 8262 as top.
As per the calculation this current uptick should not surpass 8265 (which it has almost reached by making 8262).
There seems to be a correction pending now, a major or minor one that will be decided once some key levels break like 7940 on downside.
One can crate a short here SPOT LEVELS: 8250-8230 range with an SL of 8350 and a target of 8000 so almost as 1:2 risk reward ratio.....100-120 points stop loss and 200-250 points target.
The wave structure somehow looks incomplete on the upside, that is only decided till the time we hold 7980 in this fall.
Regarding banknifty, upside for me was till 17400-17500, which it has already surpassed by almost 200 to
300 points by making a high of 17762 on 3rd June 2016 Friday.
BANKNIFTY too can be sold here with a SL of 17750 SPOT level and target of 17350 and 17100. Risk reward ratio here is almost 1:4 or 1:6, 100 points SL and 400-600 points target.
Happy Trading !
PS: I usually post on achievement of certain important levels, both on upside and downside. If anyone has queries then i frequently respond to the posts on my blog.
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