As expected: Nifty tested 8000 intra day and bounced. What Next?

Posted on twitter on Oct 20, 2015 that can test 8100-8000. Done 8000 today. Technical Analysis works guys. We just need patience, Money management and sound analysis.

As written in last post, Monday proves to an important session with Nifty testing 8000 and bouncing quickly.

Now Good thing is that it bounced nicely to close almost 50 points above lowest point of the day. But BAD news is that it still closed below 8100. More it will close below 8100 and sellers dominating, It can test 7940-7900-7880 soon.


For upmove needs to close above 8100 for 2-3 days with good volumes , Then can shoot towards 8200-higher.There 8250 waits as good resistance.

Find the chart below:

Nifty Expiry Plan

Nifty Spot @2:22PM hovering around 8160. A support as shown in pic below, exists around 8170-8160. Any break and sustaining below it will take it to 8100-8090. And sustaining here can give bounce towards 8250.

Note: If it bounces today from here and scales 8250 or more , then structure remains positive for short term.

If breaks below 8150 and tests 8090-8050 then short term choppiness and weakness expected.

 

Food for Thought

NIFTY WEEKLY  

Rise on sell seems to be the mantra!!

NIFTY Future: Bounced from supports

VOLTAS: Defying Gravity !!

Below is the Daily chart of VOLTAS FUT 

In anticipation of break out , took 280ce @5 , Booked @10 and then taken 290 CE @5.5 Booked @9.4

Other successful calls lately are 1.) AdaniEnt Sell @704 and met target @650.

2.) Bharatforge from 1300 to 1340 today and still long

3.) HDIL long from 112 now 116

4.)CANBK sell from 416 to 406

5.) ZEEL from 343 to 352

6.) DLF short from 144 to 141.5

Arvind , IDFC , TATAMOTORS hit SL.

Lot of steam left in VOLTAS, It may consolidate here or correct a bit towards 280 , But ultimate target now 320-330-350

IDFC and TATAMOTORS

Some Picks till expiry !!

1. 
   

Glenmark and COLPAL

Ambuja from 250 to 265

Below is the chart sent to clients :

AMBUJA yesterday kissed 266 and 

260CE reco to positional option clients moved from 4 to 10 

Nifty likely to bounce 60-70 points ??

Below is daily chart of Nifty Fut!!

Internal trendline small support around closing levels!!

NIFTY: Where is support??

As expected NIFTY finally cracked on Friday , falling around 150 points to 8808.

We are clearly indicating that 8965 was final target and can reverse from there 

http://www.tradersdelite.co.in/2015/01/nifty-from-8100-to-8800-what-lies-ahead.html

It hit 8965 and over shot towards 9000 in a highly volatile and quick move and then came down to close lower, giving an indication that rally is showing exhaustion.This was a confirmation to sell.

Now below chart shows support for Nifty and logical targets. real weakness or need to worry only if breaches 8500-8400, Above these levels one must keep buying good stocks on dips.

Today's calls rocked both ways: Just another day

Picture says a million words!!

Mail at tradersdelite@gmail.com for services on offer !! 

DISHMAN PHARMA: Weekly Multibagger from 136 to 164 in 2 days

You all know what happened to last week's multibagger ?? No? Check here EDELWEISS : http://www.tradersdelite.co.in/2015/01/edelweiss-up-by-35-in-week.html


On 25-01-2015 in our Weekly Multibagger Newsletter , We recommended to buy DISHMAN PHARMA around 135-136 levels.

Check recommendation here.... CLICK ME

Daily + Weekly Newsletter subscription is available at highly discounted rates till 1st FEB.

Weekly Multibagger newsletter is also available separately at highly rock bottom prices !!

Check details here : http://www.tradersdelite.co.in/p/daily-newsletter.html

Snapshot of recommendation:

EDELWEISS : Up by 35% in a week

On 17-01-2015 in our weekly multibagger Newsletter 

(https://www.dropbox.com/s/rphzqu2om081blz/Weekly%20Multibagger-EDELWEISS.pdf?dl=0)

We recommended to buy EDELWEISS around 60 for 90 in 3 months and 150 in coming time.

Stock zoomed up on good Numbers to 82 today !!!!!!

Daily + Weekly Newsletter subscription is available at highly discounted rates till 1st FEB.

Weekly Multibagger newsletter is also available separately at highly rock bottom prices !!

Check details here : http://www.tradersdelite.co.in/p/daily-newsletter.html

Snapshot of recommendation:

  What Chart looks like after today's move!!

NIFTY: First Signs of resistance at 8860

As described in last post( Check here )we have two resistance 8860 and 8965 on Spot levels.

On 23rd Jan 2015 , Nifty Spot kissed 8860 and has formed a sort of doji candle, which is a sign of reversal, So remain cautious at these levels.Look for short candidates, Weak charts and sell into them with SL.

Daily+Weekly Newsletter (Click here for details) is available at discounted prices !! Contact soon for grabbing these limited time offers,

Some interesting charts for next series

ACC

AMBUJA

AUROBINDO PHARMA

NHPC

POWERGRID

ZEEL

NIFTY from 8100 to 8800: What lies ahead??

Date was 7th Jan,2015 and time was 12:30PM. Nifty was trading around 8100.

Nifty was falling like there was no tomorrow and everybody ranging from normal guy to analyst guy

was bearing a bearish tone and talking about 7500.

This is when we sighted an opportunity(Click here) of entering the market with 8000 as SL on CLOSING basis.

Then on 15th Jan (where-nifty-stands-now) again wrote that above 8700 and a weekly close will take it to 8900.And tomorrow we are most probably heading towards 8850 if not 8900.

We are telling our subscribers time and again to be long only in this market and we go short very selectively and less often.Most of our subscribers were cautious close to all time high what we analysed that market with the persistent strength will breach that high and it did!!

Now all said and done, Important thing is that where are we heading now??

What lies ahead??

Because that is what is going to make money!!

Now Keep an eye on 8860-8965 , These are targets and resistance.

SGX Nifty trading around 8850 at 10PM on 22-01-2015

And yes correction is also due, But who knows when and how much!!

Our funda is simple that rather than trying to predict just go with the flow, Observe closely as market tells what you need to anticipate and whether you should take a Buy or Sell and is it worth it? 

So risk is always gonna be there , No anticipation , TA, Prediction is going to be true always. So respect levels and what market wants to do and not what you want it to do.

CROMPTON GREAVES: Buy for 200+

Arvind and Ambuja: Potential movers

Where NIFTY stands now??

We told to go long in NIFTY at 8065 when every body was talking about 7500.(click me!!)

Booked some profits in NIFTY and updated readers too!!

Today Morning there was a pleasant surprise from RBI of rate cut which made NIFTY breakout

of triangular pattern and if it holds, NIFTY can show good up move from these levels too going ahead.

We and subscribers are long in many stocks and are booking partially at every resistance.

Now where NIFTY stands ?? Refer chart below!!

Previously we wrote:


http://www.tradersdelite.co.in/2015/01/nifty-will-it-breakout-or-remain-range.html

http://www.tradersdelite.co.in/2015/01/nifty-and-banknifty-crucial-update.html

http://www.tradersdelite.co.in/2015/01/banknifty-and-nifty-for-bravehearts.html

NIFTY: Will it breakout or remain range bound??

NIFTY :

A developing triangular pattern.

Confirmation will come towards the end of this expiry and that will decide 

where we are heading to 8900 or 7500.