Time Tuned Nifty
Time Tuned Nifty for
The current week as well as next week are full of events that may move the markets substantially. There are plenty of news from USA coming and then we have Bihar exit polls and the result on Sunday. On various occasions I have maintained that TA at times also indicates the outcome of a pending news. Let us see what is expected in next 4-6 days.
Tomorrow between 0945-1000 hrs a high should be established. I am expecting a visit to 8130-8140. Above this band, bears are likely to get massacred and hence SLs should be tight for shorts and shorts are indeed advised.
Once this high is done (presumably at 8137) Nifty is likely to head towards 8040 and reach there towards closing 30 minutes tomorrow (05 November 2015). With shorts initiated at or near 8137, aim to get into CEs, if 8040-50 is seen around 1500-1530 hrs and hold.
I am expecting a lot of volatility for next 4-7 trading days, which works out to 10-13 Nov 2015. After the possible low at 1500-1530 hrs tomorrow, Nifty remains above 8040, it may head higher to peak on 10/12/13 th Nov. Possible targets in that case would be 8270-80 above which we should start looking for a new high for Nifty.
Summary
05 Nov 2015 - A high around 1000-1015 and a low between 1500-1530 (May come at the opening of next day)
06 Nov 2015 - A high at 1145-1200 hrs. Low yet to be defined.
09 Nov 2015 - A high at closing hours. May test 8160/8270. The corrective to the fall from 8337 should finish at this time.
13 Nov 2015 - Not accurately defined yet, but possibly on this day the C to the fall may finish. If it indeed does, we may see 7850-7800 and may be lower.
Readers may keep in mind that major moves may not come in this expiry. The extremes are indicated in Mid December. Whichever side it moves, the current extremes are likely to get stretched by then. We may see Nifty above 9200 or below 7500 in this period. Keep the intended positions covered with cheaper options. Also be miserly with initiating the position as well as with your SLs. e.g A short initiated near 8130-40 band, must have a SL at 8145/8150 coz above these levels, Nifty may head for 8270. If it does not, and gets below 8130 again, re-initiate shorts with SL a tick higher than the high made.
All the best.
Time Tuned Nifty for
The current week as well as next week are full of events that may move the markets substantially. There are plenty of news from USA coming and then we have Bihar exit polls and the result on Sunday. On various occasions I have maintained that TA at times also indicates the outcome of a pending news. Let us see what is expected in next 4-6 days.
Tomorrow between 0945-1000 hrs a high should be established. I am expecting a visit to 8130-8140. Above this band, bears are likely to get massacred and hence SLs should be tight for shorts and shorts are indeed advised.
Once this high is done (presumably at 8137) Nifty is likely to head towards 8040 and reach there towards closing 30 minutes tomorrow (05 November 2015). With shorts initiated at or near 8137, aim to get into CEs, if 8040-50 is seen around 1500-1530 hrs and hold.
I am expecting a lot of volatility for next 4-7 trading days, which works out to 10-13 Nov 2015. After the possible low at 1500-1530 hrs tomorrow, Nifty remains above 8040, it may head higher to peak on 10/12/13 th Nov. Possible targets in that case would be 8270-80 above which we should start looking for a new high for Nifty.
Summary
05 Nov 2015 - A high around 1000-1015 and a low between 1500-1530 (May come at the opening of next day)
06 Nov 2015 - A high at 1145-1200 hrs. Low yet to be defined.
09 Nov 2015 - A high at closing hours. May test 8160/8270. The corrective to the fall from 8337 should finish at this time.
13 Nov 2015 - Not accurately defined yet, but possibly on this day the C to the fall may finish. If it indeed does, we may see 7850-7800 and may be lower.
Readers may keep in mind that major moves may not come in this expiry. The extremes are indicated in Mid December. Whichever side it moves, the current extremes are likely to get stretched by then. We may see Nifty above 9200 or below 7500 in this period. Keep the intended positions covered with cheaper options. Also be miserly with initiating the position as well as with your SLs. e.g A short initiated near 8130-40 band, must have a SL at 8145/8150 coz above these levels, Nifty may head for 8270. If it does not, and gets below 8130 again, re-initiate shorts with SL a tick higher than the high made.
All the best.
Based on the TA, it is expected that there will be no surprises from USA and Bihar will have a hung assembly.
ReplyDeleteSir,
ReplyDeleteThanks a lot for your detailed response. Deep Regards!
7th Nov is saturday.... you meant 9th Nov, Monday ?
Deep Regards,
Yes. Corrected.
ReplyDeletewhat now sirji
ReplyDeleteSeems to be continuing. No longs advisable now till 13 Nov or till an upward breach of TL 8337-8116 takes place. Seems to be taking a faster route for the lows. Shorts may be held with a SL at 8117 for now. Today if I see correctly a HNS is active and could be targeting 7650 or a little lower.
ReplyDeleteThe timings for highs mentioned in the post are invalid now. Lows still valid.
ok,thnx sir
ReplyDeleteSir,
ReplyDeleteYour expectation of "faster route for the lows" coming true with Bihar verdict. Please guide ...what next ?
Regards,
Look for shorting till UTL is taken and retained by bulls.
ReplyDeleteIdeal time to short with SL 7950.
ReplyDeleteThanks a lot Sir !
ReplyDeletewats d target sir
ReplyDeleteI do not keep any targets Rashmi. I deal with time. Tentative expectations are written in the post. For now, time seems to be up and if so, Nifty may head to 7895/7960 (above this expectations for a new recent high would evolve). Should be over within opening trade of next day session.
ReplyDeleteProbably the figure for Muharat trade.
7850 will be crucial and a breach above this would confirm short term bullishness.
ReplyDeleteSL can be kept at 7770 for ST bullish positions. Risk reward not very great for the intended trade with expectations of 70/150 points. But, in a longer term framework, strong possibilities exist for a longer run towards higher levels. 8337 will be the decisive level to look for in the longer run.
ReplyDeleteAlso keep an eye on USD/INR. The pair is at a crucial resistance zone and its failure to cross above, will trigger a crash in the pair. Consequences should also have a positive outcome in Nifty. I am a indeed a bit influenced by this pair's existing setup at this juncture.
ReplyDeletethanks a ton sir
ReplyDeleteIdeal place for going long. SL same 7770.
ReplyDeletePretty close. Now it should get back above 7785, otherwise........
ReplyDeleteIf it does, a rise above recent high of 7938 should be the next destination. Roughly around 7955.
ReplyDeleteThis comment has been removed by the author.
ReplyDeletethers big bullish div in nifty chrt.lets see
ReplyDeletethanks a ton sir
ReplyDeletewats d target sir
ReplyDeleteA very happy Diwali to all here and stay blessed all always!!
ReplyDelete