NIFTY AND BANKNIFTY UPDATE ON 16th OCTOBER 2017

Morning !

It has been long i wrote something. This upward movement on both major indices has been constantly going on. 

Referring to my last post on 3rd May 2017, i mentioned and gave couple of sell calls with manageable SL for both NIFTY and BANKNIFTY.

The fall witnessed in NIFTY in a fashion of 10137 - 9685 -10178 - 9687 has been a sideways wave 4 movement and since 9687 it has again shifted gears for moving in upwards direction and creating all time highs.

I am updating my wave counts for NIFTY since 6825. 

WAVE 1: 6825 - 8968

WAVE 2: 8968 - 7893 (Sharp Wave 2 from 7th September 2016 to 26th December 2016)

WAVE 3: 7893 - 10137

WAVE 4: 10137 - 9687 (Sideways Irregular Flat Wave 4 from 2nd August 2017 to 28th September 2017)

WAVE 5: 9687 - Potential (10825 - 11325 - 11825) Time frame 3 to 4 months

The above wave counts 1 to 5 are of the Fifth Wave, of which Wave 1 started from 2252 on 27th October 2008

The bigger wave counts goes like this:

WAVE I:   2252 - 6338

WAVE II:  6338 - 4531

WAVE III: 4531 - 9119

WAVE IV: 9119 - 6825

WAVE V: 6825 - Ongoing (expected to be completed in range of 10825 to 11825)

This ongoing WAVE 5 is highly likely going for 11325 to 11825 zone to complete 2 degrees of trend one starting from 6825 and another starting from 2252. This uptrend would make traders feel a euphoria which has been experienced never before. By numbers this will be a 5000 points rally approximately within a span of 2 years from 6825 to 11825 (Started February 2016 ending approximately in First Quarter 2018).

The wave counts for BANKNIFTY since  are as follows: (In sync with NIFTY)

WAVE 1: 13407 - 20575

WAVE 2: 20575 - 17606 (Sharp Wave 2 from 7th September 2016 to 26th December 2016)
WAVE 3: 17606 - 25198

WAVE 4: 25198 - 23611 (Sideways Flat Wave 4 from 2nd August 2017 to 28th September 2017)

WAVE 5: 23611 - 30500 to 31000 (Approximately again in the same time frame of Quarter 1 of 2018)

So from here there is a decent enough buying opportunity both in NIFTY and BANKNIFTY. For NIFTY in form of NIFTYBEES if someone wants to buy delivery of this ETF and in case of BANKNIFTY futures with the stop loss that one can bear.

The above views remain intact till the time we do not break 9685 on NIFTY and 23611 for BANKNIFTY. So, from here approx 1000-1500 points rally in NIFTY and approx 5000 - 6000 points rally in BANKNIFTY.

Happy Trading !

CRUDEOIL......A FALL THAT WILL COMPLETE THE ONGOING TREND SINCE 2008

Morning !

Crudeoil today has given first signal/indication of the BIG FALL it should continue from today's high made of $51.99 almost an hour back i.e., 1:00 PM Indian Standard Time.

Selling CRUDEOIL here is a very lucrative trade in terms of the Risk Reward Ratio.

SELL CRUDEOIL  IN ZONE OF $50-$51, WITH POSITIONAL TARGETS OF  $45 - $40 - $35 - $30 - $25 AND FINALLY $10, THIS IS A POSITIONAL CALL WITH A TIME FRAME OF 12-18 MONTHS (Giving a Range) AND A STRICT STOP LOSS OF $53.75 ON CLOSING BASIS.

GIVING STRICT SL because if gets hit, then it has the capacity to go upto $59-$61 on upside.

Happy Trading !

INDICES, STOCKS AND COMMODITIES UPDATE on 3rd May 2017

Morning !

The last update on NIFTY given by me was on 14th March 2017. I would like to re-iterate that my posts are usually when the pattern starts showing some signs of reversals, i do not write daily.

Coming back to the last post: Post on 14th March 2017

Below is the excerpt from the post.

"Since the Wave 1 top 7777 was not taken out by Wave 4 on downside i.e., 8968-7893 and it again went up above Wave 3 high of 8968 by making 8992, the case again opens for a new high above 9119 which SGX Nifty has already shown up in Global Indices segment by ensuring Approximately 220 + points so a rough calculation of spot price as on Friday i.e., 8934 + 220 takes it upto 9154 taking out 9119 and making all time new high, but this potential gap up should fizzle out soon in a week or two weeks time frame again in the zone of 9150-9250-9350 and finish this rally which started from 6825 and subsequently a bigger wave which started from 2252 way back on 27th October 2008."

The Minimum requirement for NIFTY at 9350 is fulfilled and it is giving very loud signals for a correction (Intermediate or Mid-long term...will have to wait to know that).

Selling NIFTY in the zone of 9375-9425 with a STRICT SL of 9450 ON CLOSING BASIS 

(Why a STRICT SL, only because it is a pattern we are trying to identify and trade on it, predicting certain numbers when few criteria are met gives out the probability of a plausible reversal be it on upside or downside - in this case a downside, with a STOP LOSS if hits then saves you a lot of time/money/energy to sit out and wait patiently for the next trade based on revised levels, as we have waited almost a month and a half for entering into one)

The Volatility Index VIX for NIFTY has it closed at an all time low (since its inception from September 2009) of 10.86 on 28th March 2017, giving signals of an inevitable reversal in the coming days for NIFTY (Magnitude of the fall is yet to be ascertained)

BANKNIFTY again made a new high of 22492.15 on 2nd May 2017. It is also at a cusp of a reversal/correction (time span need to wait)

Selling BANKNIFTY in the zone of 22300-22500 with a STRICT SL of 22750 (Range for Banknifty is on the higher side because of the volatile nature it has)

Nifty IT and Nifty PHARMA indices along with stocks within them like INFY, TECHM, TCS in the IT pack and DRREDDY, AUROPHARMA, SUNPHARMA, LUPIN have corrected in a range of 10-20% over the period of last One and a half month.

Both Nifty IT and Nifty PHARMA are about to reverse from zones of 9800-9900 (IT) and 9600-9700 (PHARMA) respectively in the coming weeks.

As far as individual stocks are concerned, specifically MARUTI, i mentioned in my last post :      Post on 14th March 2017

Excerpt from my post:

"Looks like the 5800 made on 8th March is the beginning of the last rise for targets of 6233 + levels like 6250-6350-6450 max uptill 6500. Not giving any trade call on this one, let it finish the upside above 6233 only then will give the potential level to sell with a mini SL for the same downside target of 4790-3200 range of the positional target call."

I had an assumption of 6500 on upside as a max level, today it made a high of 6730. MARUTI seems to now complete the overall wave count started from 1250 somewhere in September 2013. 

Selling here MARUTI in the zone of 6750-6800 with a STRICT SL of 6850 ON CLOSING BASIS for the same targets as mentioned last time in the rage of 4790-3200 as positional targets (Time frame needs to wait)

Referring to USDINR Buy Call given on 28th March 2017 in zone of 65.15 - 64.95 with a STRICT SL OF 64.75, it triggered the SL of 64.75 in April Expiry on 6th April 2017. Because the day SL was triggered the downfall became more severe and the near term low for USDINR Near Term Future (May) is registered as 64.2025 on 26th April.

A momentary Reversal in USDINR is also in place in coming trading sessions with today's close as 64.4525.

Anyone willing to buy here can take a strict SL of 64.1550 in May Expiry and trade for a target of 1 to 1.5 rupees i.e.,  zone of 65.45 to 65.95 on the USDINR in this expiry.

In Commodities GOLD and SILVER are at key levels of reversal.

Buying GOLD in $1250-$1260 zone with a STRICT SL OF $1240 on CLOSING BASIS and target of  $1300-$1375-$1400-$1425-$1450 in the coming next 6 months to 1 year.

Buying SILVER in $16.70-$16.80 zone with a STRICT SL of $16.60 on CLOSING BASIS and target of $18.65-$19.00-$21-$22 in the coming next 6 months to 1 year.

DOW JONES also reversed from 20379 on 19th April and almost touched the all time high of 21169 by falling short of 100 odd points at 21070 on 26th April. The minimum requirement for DOW JONES is a new high above 21169, post that it may lead to 21200-21500 zone for final reversal.

Happy Trading !

NATURAL GAS MID TO LONG TERM OUTLOOK CONTINUED-4th April 2017

Good Evening !

This in continuation to the post on 3rd January 2017 - January Post on Natural Gas.

I have updated the chart further and will provide the reason for the same in the following paragraph.

Fall from $6.493 on 24/02/2014 till $1.611 on 04/03/2016 was of $4.882 (6.493-1.611). This complete fall was wave A and 50% retracement of Wave A which measured 4.822 comes out to be 2.441. When this is added to 1.611 i.e., 1.611 + 2.441 comes upto be 4.052.

The retracement from 1.611 went upto $3.994 (Actual 3.994 - 1.611 = 2.383) on 28/12/2016 in the form of Wave B which is almost equal to 2.441 (97.6%) of this 50% retracement factor.

The downtrend started from 3.994 is in the form of wave C and hence have updated the chart accordingly. This again has the same target of $1.3 - $1.0 in a time span of 3 to 6 months.

The top made today in form of wave C.3.4 of $3.278 though has passed the low made by C.3.1 at $3.145 marginaly but in futures this rule of non-overlapping is sometimes taken out. Expecting a reversal any day from here for lower levels again.

Hold on to this trade by revising the Stop loss of $3.513.

Happy Trading !

USDINR.....A TIME TO CATCH IT AT A POTENTIAL BOTTOM

Morning !

This is the first post i am writing for USDINR. It is at a very critical juncture of reversal. Recommending a buying trade for USDINR Future April Expiry in the zone of 65.15-64.95 with a strict SL of 64.75 and a positional target of 6 to 9 months for a price of 70.

This is a trade that needs to be rolled over if taken....with a risk reward ratio of almost 1:20.
Where 0.25 is Risk on downside as SL and 5 points is upside as target.

Remember adhere to strict SL as it is only given basis due anaylysis because if that SL is taken out then it can create a sudden panic for the buyers.

Will update on NIFTY and BANKNIFTY too over this weekend. As we have noticed that NIFTY has entered that zone of 9150-9250-9350 and BANKNIFTY has again made a new high on upside today with 21376.15. This upside is about to get over soon as mentioned in my previous post on 13th March.

Dow Jones too is on verge of reversing for further upside above 21119 for 21500-21700 zone as the last upside.

Stay tuned and gear up for the ride of a lifetime.

Happy Trading !

UPDATE ON NIFTY, BANKNIFTY AND FEW F&O STOCKS TREND on 14th March 2017

Morning !

Re-iterating the fact that NIFTY and BANKNIFTY, both had hit the stop loss given by me in my previous post, but on the other hand i have not been on the buying side too. One of the major election results were out which acted as a game changer in one of the biggest states of India on 11th March 2017, something that the markets had already factored in when it triggered some upside levels like 8950 in early March by making a high of 8992.50.

Markets are always ahead in the race when it comes to social mood and investor psychology.

Since the stop loss i give are usually 1:5 or 1:10 ratio when it comes to target: stop loss points, i have always ensured optimum trading strategies but with a fair call out by mentioning a stop loss which if triggers puts you out of the market and further stops you to jeopardize your trades.

Only after achieving one result either stop loss or target i give further view and hence have been waiting for this event which acted as a catalyst to complete the pattern we all have been waiting for since the time it made a low of 6825 in February 2016. In this fall also, the low made was 7893 and it somehow managed to stay above 7777 which was the stop loss for any buying made as mentioned in my previous post: 

UPDATE ON NIFTY AND BANKNIFTY'S TREND on 15th November 2016

Excerpt from above post: "Since the wave one was 6825 to 7777.....top of wave 1 ended at 7777 the fall from 8968 cannot take out this zone as per the wave principle.....non over lapping rule. Wave 4 cannot take out the top of wave 1."

Coming back to this post, the wave counts were as mentioned in the earlier post:

UPDATE ON NIFTY AND BANKNIFTY'S TREND on 28th September 2016

Excerpt from above post: 

"WAVE 1 : 6825-7777

WAVE 2: 7777-7516
WAVE 3: 7516-8850 to 9000 zone Actual end at 8968
WAVE 4: 8850 to 9000 Actual top 8968 till 8650-8450 zone potential (Actual 7893) 
WAVE 5: 8650-8450  (Actual 7893)  to 9119+ levels like 9150-9350-9550 (Estimated top will have to wait for the wave structure)"

Since the Wave 1 top 7777 was not taken out by Wave 4 on downside i.e., 8968-7893 and it again went up above Wave 3 high of 8968 by making 8992, the case again opens for a new high above 9119 which SGX Nifty has already shown up in Global Indices segment by ensuring Approximately 220 + points so a rough calculation of spot price as on Friday i.e., 8934 + 220 takes it upto 9154 taking out 9119 and making all time new high, but this potential gap up should fizzle out soon in a week or two weeks time frame again in the zone of 9150-9250-9350 and finish this rally which started from 6825 and subsequently a bigger wave which started from 2252 way back on 27th October 2008.

Yes, this wave structure not only concludes the rally momentarily which began from 6825 since February 2016 but it also finishes up a bigger degree wave structure too which started in October 2008. 

Fifth Wave of the pattern started from 6825 and also the fifth wave of the pattern started from 2252.

The top is about to be completed in this week's time and post that reversal should happen across many sectors and stocks. Hence the logic of squaring off all the trades on buying side was suggested in early January 2017.

For BANKNIFTY, it has already made a new all time high as compared to its Mixed Index Nifty on 17th February of 21042.35. 

On the other hand BANKNIFTY is also about to complete fifth wave of the pattern which was started on 29th  February 2016 at 13407.25 and subsequently the fifth wave of bigger degree of the pattern which was started on 20th December 2011 from 7766.35. 

For stocks, MARUTI reversal sell call given on 7th February in post: WHY TRIGGERING A MINI STOP LOSS IS BETTER THAN SITTING IN UNLIMITED LOSS MAKING TRADE

Excerpt from post: "I have been of a NO trade view at least not for buying since 4th January 2017 and hence have only been stock specific.Post made on 22nd November 2016 on POSITIONAL BUY CALL GIVEN ON MARUTI at level of 4830 with a mini SL of 4767 (63 points) and targets till 6100. This was achieved in last week and has already overpassed the final target of 6100. Though i had given exit from all buying on 4th January when it was trading at 5500s, my endeavour was to make people come out before this ends up at the top and now since the targets are achieved in MARUTI, it is time to sell it again tomorrow or above 6300 with a mini SL of 6350 again and a POSITIONAL target of  4790-3200 range. The wave structure of MARUTI is about to complete and is in its almost last leg."

Looks like the 5800 made on 8th March is the beginning of the last rise for targets of 6233 + levels like 6250-6350-6450 max uptill 6500. Not giving any trade call on this one, let it finish the upside above 6233 only then will give the potential level to sell with a mini SL for the same downside target of 4790-3200 range of the positional target call.

IT and PHARMA sectors have been looking bad since last one quarter and i have been giving signals of continued weakness. Stay in cash in these stocks:  INFY, WIPRO, TECHM,TCS in IT and DRREDDY, AUROPHARMA, SUNPHARMA, WOCKPHARMA etc.

Let us wait for the potential top of 9119+ level in the coming sessions and wait for a reversal of a bigger degree.

Happy Trading !

COPPER IS ABOUT TO BE READY FOR A SELL CALL

Morning !

Copper is almost ready for a sell call.....Currently trading at $2.7872, it made a high of 2.8123.

SELL COPPER in zone of $2.8-$2.95 AND TARGETS OF $2.45 ----- $2.00 ----- $1.25----- $1.15 WITH A STRICT STOP LOSS  of $3.00.

NOTE: THIS IS A POSITIONAL CALL WITH A TIME FRAME OF 1 TO 2 YEARS. (GIVING A RANGE AS A TRADE CANNOT BE TIME BOUND)

Happy Trading

WHY TRIGGERING A MINI STOP LOSS IS BETTER THAN SITTING IN UNLIMITED LOSS MAKING TRADE

Morning,

Referring to my trailing post of sell trades for indices and having 50 and 100 points stop loss on NIFTY and BANKNIFTY given on 31st January 2017. They both got triggered in last few sessions. It is important to understand why triggering of a stop loss is important instead of sitting in an unlimited loss making trade.

I have been of a NO trade view at least not for buying since 4th January 2017 and hence have only been stock specific.Post made on 22nd November 2016 on POSITIONAL BUY CALL GIVEN ON MARUTI at level of 4830 with a mini SL of 4767 (63 points) and targets till 6100. This was achieved in last week and has already overpassed the final target of 6100. Though i had given exit from all buying on 4th January when it was trading at 5500s, my endeavour was to make people come out before this ends up at the top and now since the targets are achieved in MARUTI, it is time to sell it again tomorrow or above 6300 with a mini SL of 6350 again and a POSITIONAL target of  4790-3200 range. The wave structure of MARUTI is about to complete and is in its almost last leg.

I am also stating the reason here why i felt that from 6825 till 8968 was an impulsive and later i told to exit everyone from buying. The time taken from the fall of 8968 to 7893 is too long when compared to the time taken to rise from 6825 to 8968.

If we consider the total time it was 6 months and 10 days to this overall fall which is almost 50% of the time taken to retrace the previous fall from 9119-6825, which was 3rd March 2015 (9119) to 29th February 2016 (6825), 3 days less of a complete year.The point at which i got this confirmation that this intermediate rise from 6825 to 8968 was not 1 2 3 waves of an impulsive wave but A B C of a corrective wave, is when the time taken to further make this complex correction is where the pattern gave the first signal that this fall from 8968 to 7893 (3 months 19 days) is again almost 50% of the time taken to rise from 6825 to 9119, which incase of a fourth wave correction has taken more time as compared to the overall rise from 6825 to 9119. Hence the latest rise from 7893 till 8814 looked as a part of an X wave because it has risen very fast and this is when i asked on 4th of January 2017 to exit from all buying irrespective of NIFTY was at 8219 and BANKNIFTY was at 17891 from there both have rallied 600 and 2500 points. Hence this uptick from 26th December 2016 till date looks more like a part of a complex correction rather than impulse. Again since we cannot achieve perfection in markets hence stoploss in the picture. Any one selling here on both indices i.e., NIFTY and BANKNIFTY is advised to maintain an ultimate strict SL of 8950 and 20500 on closing basis on NIFTY and BANKNIFTY respectively. All levels mentioned are SPOT levels.

Also, if anyone is tracking DOW JONES, it has also reached a critical juncture by making 20155 and is at the verge of a lifetime reversal for a severe fall. Confirmation of this will only come when we see it taking out 20000,19900 and 19700 for targets of 18600-18000-17200-16000-15300-14200-13000-11900-10400-9700-8900-7400-6500 and so on in the coming years. (Yes these levels looks like a crazy/freak call by someone but this is what elliott wave has the ability to do for you)

In addition to the above recommendation on selling MARUTI i have a lot of sell recommendation like the IT pack and PHARMA pack i have been bearish since last quarter along with individual stocks like VOLTAS, RELINFRA, the whole STEEL sector is about to/or has topped out namely, TATASTEEL, VEDANTA, HINDALCO, JSWSTEEL, JINDALSTEL etc.

Some big boys like ULTRACEMCO, MCDOWELL-N, ITC

In OIL & GAS sector ONGC, CAIRN and finally TELECOM Sector like IDEA and my all time favorite RCOM (have been giving sell recommendation since December 2015 from the levels of 92).

Hope i have answered everyone who asked me in the last 1 week.

Happy Trading !

SELL TRADES FOR INDICES

SELL NIFTY ABOVE 8700....ADHERE STRICT SL OF 8750 ON CLOSING BASIS
SELL BANKNIFTY ABOVE 19800....ADHERE STRICT SL OF 19900 ON CLOSING BASIS

TARGETS.....WILL UPDATE......

HOW ELLIOTT WAVE ANALYSIS GIVE YOU THE POTENTIALLY RIGHT ENTRY AND EXIT POINT

Good Evening,

I have always been of the view that knowledge and analysis should be shared for free and that is what i have been trying to do via my blog. This blog is open for everyone and it has been my endeavor to respond to each and everyone's query irrespective it being opposite to my analysis or not.

Historically i have also shared my trades which i have in parallel suggested on mmb moneycontrol site and shown the contract notes/trade details for the same.

Today also i want to uncover the power of Elliott Wave Analysis to everyone. What this analysis, if applied carefully along with discipline is capable of.

This trade was done on 7th December 2016 on BANKNIFTY. This day co-incidentally was the day of Monetary policy date of RBI.

You may have noticed that in the month of December i did not write a single post on my blog because my views are usually positional. But again within these positional views there are multiple trade setups which are corrective or opposite to the positional views. These trade setups are of lower degrees as compared to what i post on my blog.

This trade was a result of the elliott wave analysis of market (BANKNIFTY) as per which it should have corrected further below  the short term support of 18143 made on 9th November 2016 (De-monitization date) and was being maintained throughout 28th November to 5th December by marking lows of 18187-18183.

On 7th December BANKNIFTY made a high of 18588.15 at 13:40 hrs and my entry into BANKNIFTY 8th December 2016 Expiry Call with Strike price of 18000 PUT (PE) was at 13:11:48 hrs when it made a high of 18578.85 with 4 lots of banknifty put totaling the quantity of 160 at the rate of 20. This option made a low of 18 when it further went upto otouch its high of 18588.15 after 29 minutes from my entry time, which as per elliott's analysis was the potential top.
(Yes we cannot achieve perfection in financial markets but can definitely pursue perfection in our trades).
My exit time was 14:33:27 hrs at the price of 69 in that very minute this option made a high of 80 but since i had already placed bids by doing a rough calculation of SPOT price - STRIKE price 18000 PE and BANKNIFTY SPOT price.

Yes this analysis was on a 5 minute chart as compared to a daily/weekly or a monthly chart.....and Elliott Wave Principle again worked like a beauty as it has being doing so far.

Attached snapshots are from my ZERODHA Q Backoffice which has my trades, P&L page, charts highligting the entry point.

This is the only analysis so far which has worked at all degrees of timeframes for me.

I will be soon posting on selling few stocks like VOLTAS, the whole IT pack and PHARMA pack, which i already have been bearish as evident in my previous posts.

Happy Trading !

URGENT POST FOR SQUARING OFF ALL BUYING POSITIONS

URGENT POST FOR SQUARING OFF ALL BUYING POSITIONS

NIFTY
BANKNIFTY
MARUTI
INFY

SQUARE OFF ALL BUYING POSITIONS AND STAY IN CASH. WILL UPDATE IN NEXT POST FOR NEW POSITIONS/TRADES.

NATURAL GAS MID TO LONG TERM OUTLOOK CONTINUED-3rd January 2017

Morning !

Following up from my previous post on NATURAL GAS on 11th October 2016.

Again as the wave structure unfolded and took its own sweet time to complete.

The last time also i gave a sell call in zone of $3.4-$3.6 with targets of $1.3 to $1.6 and a strict SL of $3.6.

It went down upto $2.55- to $2.45 zone and again went upto $3.99.

I have updated the wave structure markings on this chart, which shows the completion of this corrective wave on upside in A B C format and waves within this correction.

Again Selling here is highly recommended, today morning NG is trading 7% down in global commodity exchange at $3.5-$3.4 zone. Taking an SL of $4 and again the same positional target of $1.3 to $1 with a time frame of 6 months to 1 year.

Happy Trading !

HAPPY NEW YEAR 2017 TO ALL

Morning !
A very Happy New Year 2017 to all

I have heard many times from people that i post very few times on my blog. It is only because i feel that one should update very near to the potential reversal points in market, be it on upside or downside and that's what i do. I do not give daily update on NIFTY or on stocks. I always try to give a broader picture and whenever i give a trade call it is usually 1:5 or 1:10 SL to Profit Ratio.

Following up on my November 15th November 2016 Post for NIFTY and BANKNIFTY. I mentioned as of now the double zig zag completed at 7916 and will be waiting for a triple zig zag as mentioned to couple of people as a reply to their query on my blog that NIFTY should go below 7916, it has so far made a low of 7893 on 26th December 2016 and has risen till 8212 as of today's (2nd Jan 2017) high. I feel the rally has intermediately ended today and should go down again till 8050-8000 zone. A buying can be now made in this range with a STRICT SL of 7983 and target of 8225-8300.

For BANKNIFTY, it also created a low of 17606 on 26th December 2016 and reversed till 18249 today and as i am writing this post, it has reversed a 130 points till 18117. A buying can be made in the zone of 17950-17850 with a strict SL of 17750 and a target of 18250-18550 in the coming weeks.

For my POSITIONAL buying calls given for MARUTI and INFY.

MARUTI buy given at 4830 on 21st November has achieved 5377 on Friday 30th December 2016, requesting to revise SL to 5050 now and continue to hold on for remaining targets.

INFY buy given at 922 on 21st November has achieved 1022 on 21st December only two targets remain of 1030-1055 zone. People can book full profit here, as i do not see further steam left in IT packs and majorly all of them are looking for a reversal like TCS, HEXAWARE, TECHM.

Once again A very Happy New Year to all

Happy Trading !