Nifty Update

An Absolute Belter of a Call :

Nifty followed our levels and moved exactly (and almost scarily) as pointed out.
Nifty made intra lows near 5420 today and taking support there reversed to close above 5500. A panic bottom may have been made for the short term (see previous update) This is the first sign of a reversal. Now, Holding 5500 in the coming few days and taking out 5550 would confirm the reversal. Our buy is still intact.

Enjoy!!!

Nifty Update

Nifty following our lead and moving as per our levels to the 'T' closed at near 5500 levels,  has now reached our STPT levels after breaching the 5700 mark. (see previous update)
Nifty is quite oversold right now and its the right time to look into buying. Any further fall towards 5420-5450 levels in the coming few days might see Nifty making a panic bottom for the short term which can be used for buying into.
Final Call??
Buy Nifty with closing sl at 5400 with tgt of 5950
Risk = 120 points    Reward = 420 points

Nifty Update

Bull or Bear??
Nifty after taking support at sub 5600 levels has come near its resistance levels of 5780-5820. Any break again below 5700 might take the nifty back to 5600 to sub 5500 levels and any break out above the resistance will take the nifty back to 5900 levels.
We have an interesting few days ahead with 25th being the RBI rate hike decision, 26th being a national holiday and 27th being the expiry.
Markets are cooking up so lets wait for our levels to trade.
Let the cards unfold!!!

Nifty Update

Nifty after bouncing to 5860 (exactly near our pull back level of 5850-5880) has fallen back to sub 5650 levels, pretty close to our short term positional target of 5450-5550.
Note: 5600 put options have witnessed a huge build up of open interest in the current series indicating some support at those levels.

Current View :
Keep your eyes open, a short term BUY maybe on the cards if Nifty falls further to our STPT of 5450-5550.

Nifty Update

Nifty has fallen like a knife from levels of 6150 to present levels close to 5750 since our 'Big Bang Update' in a matter of few days reaping close to 400 points on the short side. A bounce may be probable near levels of 5850-5880 in the short term keeping the rapid fall in mind.
Current View:
 Nifty has fallen sharply on higher volumes indicating that it may be the 3rd wave down. It would be best now to wait on the sideline and look for a turnaround signal near levels of 5450-5550 in the near term.
Till then enjoy the shorts.....

"The Big Bang" Update

Nifty Targeted to BREAK its low of 2500 made in the recent 2008 fall.
Several factors prompt out and signal the eventual fall awaiting the market. Lets analyse them and make some sense out of it all.

1. The overall sentiment prevailing in the market is positive. Its quite easy to recall the overall market sentiment before the 2008 fall where people where absurdly optimistic and unrealistic. Even though  people are cautious presently yet no one is particularly bearish with most of them being clueless.
2. As per long term elliott counting, we seem to be in wave 5 with the same sectors seeing a rally with more volumes indicating that we are yet in the previous bull market. IF NIFTY FAILS TO CROSS the previous high of 6357 in the coming time then we will in most probability witness a breakdown.
3. The 'Election Gap' made at 3800 is yet to be filled. Anyone believing in the Gap Theory ought to expect the nifty to correct atleast to sub 3000 levels, which in itself is a big fall from the current levels.
4. During the global lows in 2008 we had the govt heavily infusing money in the markets when even the roadside dog was bearish. Result? nifty rockets from 2500 to 6000+. In the current scenario, we have the govt selling its stake in every second psu on the pretext of reducing our ballooning fiscal deficit. Its anyone's guess to predict where nifty might land if the reversal holds true.
5. The div yield to P/b ratio before the dramatic 2008 fall had reached a peak of almost 1:6 ratio. The current ratio is hovering close to those levels. So, clearly a correction is largely due.

Nifty current level - 6150
The final call??? SHORT nifty with sl of 6390 for Target1 of 3800.
Risk= 240 points. Reward= 2400 points.