nifty neowave chart

 

 

 

two year consolidation.
it is likely as an upward sloping diametric formation seen on nifty monthly chart.

important support seen near 11000.
uptrend would resume when it gets supported and comes out and above the pattern

Final leg g under completion.
should not go below 10640 else downside will intensify on long term charts.

nifty view

breakdown from expanding triangle on daily.

Market is technically at all time high but valuations are stretched beyond highs.

Also combined market earnings of nifty stocks is not rising.

this is a cause for concern, since growth is not taking place.

So while money flow can keep market afloat and up, any unpleasant election outcome or global scenario or weakening technical structure on longer term charts can upset the upside.

Hence caution is advised with suitable profit stops in place.

For the past year getting many indications that nifty may be heading towards 9300 and 8600 if it breaks 10700 and stays below it.

While this may be a speculation at this point of time hence caution is advised in taking any such positions in market based solely upon this.

We may need fundamental data or domestic or global markets going bearish to support such a movement.

Apollotyre Neowave analysis

Apollotyre daily Chart with Neowave analysis

 

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.

looks like a bottom is made or will be made near 7850-7900 for short term, may use any dips toward it to buy into the market, resistance exists near 8400-8450.

time to trade buy into major dips metals gold, silver, platinum with a two three month perspective.

monthwise fii and dii flows

nifty now where from here

last time I said 8300 is a strong support. that was true as long as broad expectations from local and global scenario. but we had two major unexpected and unforeseen negative scenarios developing for the market from second week of November. that is, Trump winning US Presidential elections and demonetization of Rs 500 and Rs 1000 denomination currency here in India, this singularly and together could lead to slowdown in our economy to which market reacted accordingly and broke the support level. bottoming out will take few more weeks and probably levels upto 7650-7950 can act as supports.

this is interesting, a salute to dr raghuram rajan

the rajan rally