sensex yearly chart

Brent Crude oil

brent crude oil technically readying for 100 plus rally in a few years? has to first overcome monthly resistance near 69.50 and may pullback toward 40 which looks probable. Interesting how geopolitical risks play out from hereon.

after a breakout from the upward sloping channel, nifty is in fresh momentum and rising with superspeed. a new market top or an intermediate top near 10050 is about to form in days to few months as valuations are getting stretched. but money is still coming in from dii's and earnings are getting upgraded so maybe still time. so tighten your seat belts. enjoy the ride and try to book out of the markets near targets. iam upgrading my long term target on nifty from 10500 earlier to 11200 with long term support near 8400.

playing with channels

 

nifty daily chart channels trading.

nifty strategy for short term

UP assembly elections are over and exits polls are due to come today evening and results on 11th march 2017. Nifty is rangebound since last few days as such in no trade zone. As such the strategy in f&o could be taking position in the direction of breakout above 8990 or breakdown below 8860. Any such breakout/down then ensures atleast 120-140 points movement or more in that direction.