Nifty Market Observation Update -4th Sep 2012

Nifty Market Observation Update -3rd Sep 2012

Nifty Observation Update -21Aug2012

This blog discuss probabilistic  approach towards market  and  possible trade  setup  coming .....

1. Any thing can happen 
since there is no  open position , so there is nothing to worry.

2.Side way market  between 5300 and 5400

3. Any close below 5294 , short the market 

3. Any close above 5400 ,long  the market 

Nifty And Bank Nifty Analysis For 13th February 2012

1.Pattern Position
Impulsive 5 wave pattern is in progress. wave -5 is in progress.


2.Price Position
Price cluster exit at 5450-5384-5233-5100
Resistance-5350-5400 levels 
Support-5260-5177-5120-5073-5065-5053-4980-4900-4840 


3.Momentum Position
Trade in the direction of the larger time frame momentum unless "OB" or "OS".Execute the trade on lower time frame momentum reversals.
since Weekly chart and Daily Chart is in "Over Bought" zone and daily chart have given bearish reversal signal.
  
4.Objective Entry Strategy
Short below 5340.Stoploss should be above 5410.


5.Exit Strategy
If target 4980(EOW 50 ret) traget is made ,trail half of the position below 1Bar high .


Potential Trade setup: 
1.SAR 5320
2.Short below @5340 Stoploss @5410


Follow up SAR trade (ST)
1. No Trades 


Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= -20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (close 1 lot @ 5120 and 2nd lot @ 5200=60 points)

Nifty And Bank Nifty Analysis For 7th February 2012

1.Pattern Position
Impulsive 5 wave pattern is in progress. wave -5 is in progress.


2.Price Position
Price cluster exit at 5397-(5220-5240)-5100


Resistance-5350-5400 levels 
Support-5260-5177-5120-5073-5065-5053-4980-4900-4840 


3.Momentum Position
Trade in the direction of the larger time frame momentum unless "OB" or "OS".Execute the trade on lower time frame momentum reversals.since Weekly chart and Daily Chart is in "Over Bought" zone.we can be cautious long or short on getting bearish reversal signal.
  
4.Objective Entry Strategy
Short below 5233 on getting bearish reversal signal on daily timeframe.Stoploss should be above 5260


5.Exit Strategy
If trade triggered , I will sharing exit strategy.




Potential Trade setup: 
1.SAR 5199
2.Short below 5233 on getting bearish reversal signal on daily timeframe


Follow up SAR trade (ST)
1. No Trades 




Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= -20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (close 1 lot @ 5120 and 2nd lot @ 5200=60 points)

Nifty And Bank Nifty Analysis For 6th February 2012

1.Pattern Position
Impulsive 5 wave pattern is in progress. wave -5 is in progress.


2.Price Position
Price cluster exit at 4960,5066,5120,5220-5240,5344.
Resistance-5350-5400 levels 
Support-5260-5177-5120-5073-5065-5053-4980-4900-4840 


3.Momentum Position
Trade in the direction of the larger time frame momentum unless "OB" or "OS".Execute the trade on lower time frame momentum reversals.since Weekly chart and Daily Chart is in "Over Bought" zone.we can be cautious long or short on getting bearish reversal signal.
  
4.Objective Entry Strategy
Short below 5185 on getting bearish reversal signal on daily timeframe.Stoploss should be above 5220


5.Exit Strategy
If trade triggered , I will sharing exit strategy.


Potential Trade setup: 
1.SAR 5130.
2.Short below 5185 on getting bearish reversal signal on daily timeframe


Follow up SAR trade (ST)
1. No Trades 


Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= -20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (close 1 lot @ 5120 and 2nd lot @ 5200=60 points)

Nifty And Bank Nifty Analysis For 3rd February 2012

Towards upside bulls can target 5260-5350-5400 levels and towards downside 5177-5120-5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 5160 is protected.I am anticipating wave -5 bullish upward movement 5252 / 5305/5330 .Wave 5 is expected to get completed @5320-5337,from there  I am anticipating correction.


However overall trend to remain bullish once 5160 is protected.


Trend/Momentum :Weekly  chart  : Bullish OB  Daily chart  : Bullish => orientation towards long side  (be watchful)


Pattern : Impulsive 5 wave pattern . Wave-5 is in progress. Wave -4  completed.


Position: Price cluster exit at 4980 ,5100 and 5220-5240,5315


Action : - None (No Open position)


Potential Trade setup: 
1.SAR 5119
2.SHORT @ 5315 STOPLOSS 5340 TARGET -UPDATED LATER 
3.Nifty Trading below 5220 /5160 will be indication to add short.


Follow up SAR trade (ST)
1. No Trades 


Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= -20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (close 1 lot @ 5120 and 2nd lot @ 5200=60 points)

Nifty And Bank Nifty Analysis For 2nd February 2012

Towards upside bulls can target 5260-5350-5400 levels and towards downside 5177-5120-5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 4950 is protected.I am anticapting wave -5 bullish upward movement 5252 / 5305  


However overall trend to remain bullish once 4900-4950 is protected.


Trend/Momentum :Weekly  chart  : Bullish OB  Daily chart  : Bullish => orientation towards long side 


Pattern : Impulsive 5 wave pattern . Wave-5 is in progress. Wave -4  completed.


Position: Price cluster exit at 4980 ,5100 and 5220-5240,5315


Action : - None (No Open position)


Potential Trade setup: 
1.SAR 5119
2.SHORT @ 5300 STOPLOSS 5320 TARGET -UPDATED 
LATER 


Follow up SAR trade (ST)
1. No Trades 




Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= -20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (close 1 lot @ 5120 and 2nd lot @ 5200=60 points)

Nifty And Bank Nifty Analysis For 31st January 2012

Towards upside bulls can target 5260-5350-5400 levels and towards downside 5120-5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 4950 is protected.I am anticapting wave -4 correction  may go to 5053/4950 .However overall trend to remain bullish once 4900-4950 is protected.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory and Given bearish reversal on daily chart . 


Pattern : Impulsive 5 wave pattern . Wave-3 completed. Wave -4 started (may go back to 5053/4950 )


Position: Price cluster exit at 4980 ,5100 and 5220-5240.


Action : Trade management  => If pullback happen, exit 1 lot @ 5100 and keep another lot with stoploss of 5200(TRT).  


Potential Trade setup: 
1.SAR 5045-5065 


Follow up SAR trade (ST)
1. No Trades 


Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= 20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (Open)

Nifty And Bank Nifty Analysis For 30th January 2012

Towards upside bulls can target 5260-5350-5400 levels and towards downside 5120-5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 4950 is protected.Buying at Higher level is strict "No" considering Daily and Weekly "OB" Condition.I am anticapting wave -4 correction  may go to 4950 .However overall trend to remain bullish once 4900-4950 is protected. 


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 


Pattern : Impulsive 5 wave pattern . Wave-3 is in progress. Wave -4 will start (need follow up to confirm - may go back to 4950 )


Position: Price cluster exit at 5100 and 5220-5240.


Action : Profit booking and closed all long position. 


Potential Trade setup: 
1. SAR 5055-5065 Bullish 
2. Sell can be done near 5220 level with stoploss 5250 (TRT)




Follow up SAR trade (ST)
1. No Trades 


Follow up Trend reversal trade (TRT)
1.Sell 5140 Stoploss 5160 -Stop out (loss= 20 points)
2.Sell can be done near 5220 level with stoploss 5250 (TRT)  (Open)

Nifty And Bank Nifty Analysis For 27th January 2012

5053 and 5063  are two line of defense for bulls. Buying at Lower level is suggested. Towards upside bulls can target 5100-5140-5220 levels and towards downside 5073-5065-5053-4980-4900 -4840 would be support.Momentum to remain bullish once 4950 is protected.Buying at Higher level is strict "No" considering Daily and Weekly "OB" Condition.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 


Pattern : Impulsive 5 wave pattern . Wave-3 of 3 is in progress.


Position: Price cluster exit at 5100 and 5220-5240.


Action : Profit booking and Holding  minimum long position. 


Potential Trade setup: 
Sell can be done near 5220 level with stoploss 5250 (TRT)


SAR trade (ST)
1. No Trades 


Trend reversal trade (TRT)
1. Sell 5140 Stoploss 5160 -Stop out (loss= 20 points)

Nifty And Bank Nifty Analysis For 25th January 2012

5053 and 5063  are two line of defense for bulls. Buying at Lower level is suggested. Towards upside bulls can target 5100-5140-5220 levels and towards downside 5073-5065-5053-4980-4900 -4840
would be support.Momentum to remain bullish once 4950 is protected.Buying at Higher level is strict "No" considering Daily and Weekly "OB" Condition.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 
Pattern : Impulsive 5 wave pattern . Wave-3 of 3 is in progress.
Position: Price cluster exit at 5100 and 5220-5240.
Action : Profit booking and Holding  minimum long position. 


Potential Trade setup: 
Suggested : Sell can be done near 5100 level with stoploss 5120 Target 5000. 


Actual Sell done at 5140 Stoploss 5160 Target 5073-5050. Sell @ 5100 was avoided because bearish reversal happened at 5140 level.

Nifty And Bank Nifty Analysis For 24th January

4980 and 4883  are two line of defense for bulls. Buying at Lower level is suggested. 
Towards upside bulls can target 5100-5140-5220 levels and towards downside 4980-4900 -4840
would be support.Momentum to remain bullish once 4900 is protected.


Trend/Momentum :Daily and Weekly Chart have reached overbought Territory. 


Pattern : Impulsive 5 wave pattern . Wave-3 of 3 is in progress.


Position: Price cluster exit at 5100 and 5220.


Action : Profit booking and Holding  minimum long position. 


Potential Trade setup: Sell can be done near 5100 level with stoploss 5120 Target 5000. 

Nifty And Bank Nifty Analysis For 23rd January

4980 and 4883  are two line of defense for bulls. Buying at Lower level is suggested. 
Towards upside bulls can target 5100-5140-5220 levels and towards downside 4980-4900 -4840
would be support.Momentum to remain bullish once 4900 is protected.


Trend/Momentum : Daily chart is  Over bought whereas Weekly chart remain bullish.Buy on bllish reversal on daily timeframe.


Pattern : Impulsive 5 wave pattern . Wave 3 is in progress.


Position: Price cluster exit at 5100 and 5220.


Action : Profit booking and Holding  minimum long position.