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 !