ENTER IN THE LONG SIDE, STOP 3485

29, April
Nifty 3508.10

A sharp move above 3350 region would confirm that Nifty has bottomed out. Further, if this region is crossed, it would move towards 3600. And without any major downside correction, Nifty would clear 3600 region in coming trading sessions.

Instead, if Nifty trades below 3485, then it could slide towards 3450 region. In that case Nifty should not break 3430, if it has to bounce back.

NIFTY STILL BULLISH, STOP 3475

28, April
Nifty 3508.10


Though Nifty has come below the stop-loss levels, the trend still continues to be bullish. If Nifty moves in expected lines, it would move above 3600 in three trading sessions.

A sharp move above 3550 region in the morning, would confirm that Nifty is bottomed out. Or, if Nifty trades above 3475 region without violating it, in that case also Nifty would bounce back.

If it moves below 3475 immediately in the morning itself, then it could further slide towards its previous low of 3433. If that is the case, then we have to wait till tomorrow to re-enter the market.

Technically, a big base for a strong and explosive rally is in the making in the charts. Corrections can be used to enter the scrips at lower levels. If Futures long positions are properly hedged using Put options, trading in this market in the long side would fetch good returns in coming trading sessions.

HOLD YOUR LONGS, STOP 3525

27, April,
Nifty 3555.75

It seems Nifty could move above 3600 levels today. The stop for the long positions is 3525.

Re-enter SBI with a stop at 890. My previous target of 970 is valid now. Re-enter Infosys at current levels. The stop can be kept at 3170. It has potential of moving towards 3400.

As written in previous posts, Nifty is about to see an explosive rally in coming trading sessions and it seems moving towards 3750-3800 region.

RE-ENTER IN THE LONG SIDE, STOP 3430

26, April
Nifty 3462.65

It seems Nifty has bottomed out. Now, it has potential of moving towards 3510-3530 region shortly. A move above these levels would confirm further movement towards 3600. Since the stoploss levels are very close, long positions can be initiated at current levels, if market behaves on expected lines.

The view would get negated, if Nifty moves below 3430 region. If the region 3430 is not held, then, further 80 to 100 points fall is possible. For this scenario to happen, in the morning itself market should immediately move below 3430.

As previously said, the bull trend is intact. Once this correction is over, Nifty would move towards new highs in coming trading sessions.

ADHERE TO THE STOPLOSS LEVELS

If the level 3515 is not violated, Nifty could move up from these levels towards 3600. If it is violated, then it could move towards 3450 region from where it could bounce back. In any case, the overall trend in Nifty continues be bullish and we could soon see new highs in coming trading sessions.

Regarding Infosys and SBI, re-enter only above the stoploss levels that I gave previously with yesterdays low as stoploss.

MOVE ABOVE 3600 CONFIRMS STRONG RALLY

24, April,
NIFTY, 3573.05

It seems that Nifty could move towards 3650 region shortly and a sharp move towards 3600 would confirm it. Hold your long positions with a stop at 3530 region. If the region 3530 is violated, then it could test 3450 region.

As previously mentioned, the trend continues to be bullish. If the region 3600 is cleared on Monday, Nifty could move towards 3750-3800 levels in few trading sessions.

Revisiting my earlier recommendations, ITC,and Tata Motors have achieved their respective targets. SBI has hit the stoploss. One can re-enter SBI (916), if the level 910 is not violated. Previously, I have mentioned 3150 as stop for Infosys (3301.70). But now, the stop can be kept at 3220.

CORRECTION POSSIBLE AROUND 3650

21, April,
NIFTY, 3573.50

It seems Nifty could move towards 3650 levels immediately. But there is a possibility of minor correction from that level. The stop for the longs is 3540. Once the correction is over, Nifty would resume its upward journey.

HOLD YOUR LONGS, STOP 3480

20, April,
NIFTY 3535.85

A sharp move above 3560 would push the Nifty towards 3600 region. In case if it moves below 3510, then it would bounce back from 3480 region. Over all the trend continues to be bullish and higher targets are in store for Nifty in coming trading sessions. Stop for the longs 3480.

Revisiting my earlier recommendations on Infosys, SBI, ITC, the views and targets are still valid but always adhere to the stoploss levels.

MINOR CORRECTION POSSIBLE AT 3570-3600

19, April
Nifty 3518.10

Further upside is possible today, but Nifty may see some minor correction from 3570-3600 levels.

Stop for the longs is 3480.

ITC (198.30) has potential of testing 204 region. Stop 196.

SBI (941) has potential of testing 970. Stop 935.

NIFTY HEADING TOWARDS 3500, STOP 3375

18, APRIL

Nifty is behaving in line with our expectation. Next, Nifty has potential of testing 3500 region sharply. The stop for the longs is 3375.

If the region 910 is not violated, Tatamotors has potential of testing 970 levels shortly.

In few trading sessions, Infosys has potential of testing 3450 region. Stoploss for the view is 3150.

RE-ENTER IN THE LONG SIDE, STOP 3270

17, APRIL,
NIFTY 3345.50

Thursday's view still holds good for now. On Monday, if market opens strong and move towards 3400 sharply, then we can assume that a bottom has already formed. Instead, if the market turns weak from current levels (3345), then it may retest its earlier low of 3291. In that case, from the low, Nifty has to bounce back to 3350 region to confirm the low.

Since the stoploss levels are very close and the upward potential is good, we may get a good opportunity to trade in the long side.

But, though the chances are very remote, a sharp move below 3270 region would invite further 200 points fall. So, be cautious below 3270.

Revisiting my earlier recommendation of ACC, it is a short term call made on 12th April, and it has achieved the target on the same day itself. At present, the recommendation has no significance.

NIFTY IS ABOUT TO BOTTOM OUT

13, APRIL
NIFTY 3380

Click the image to enlarge it.


As previously mentioned, below 3420, Nifty had turned weak further. Technically, the last leg of a particular pattern of particular degree will be corrected in drastic manner. Here the last leg started from 3270 and stretched upto 3555 region. The maximum it could correct, is almost all of the last leg or it would be partially retraced according to the strength of the market. So, here, Nifty could bottom out around 3340 region or around 3270 region.

At the same time, as I have previously mentioned, trend in Nifty continues to be bullish. Once, Nifty bottoms out around any one of the above mentioned regions, it would bounce back with good momentum and in a very shorter period it would test 3550 region.

BUY ACC, STOP 910, TARGET 950

12, April, ACC 919.00

It seems ACC is looking bullish at current levels and it could test 950 region. The stop for the view is 910.

HOLD YOUR LONGS, STOP 3420

10, APRIL,
NIFTY 3454.80

If Nifty stays above 3420 region, then it has potential of testing 3550 in few trading sessions. If it moves below 3420 region, then it has potential of testing 3280-3320 region. Inspite of this weakness, the trend in the Nifty continues to be bullish and soon we could see new highs in coming weeks.

Revisiting my earlier recommendations, Satyam, TCS, and ITC has cut the stoploss levels. If the level 800 is not violated in the downside, Satyam has potential of moving towards 900 region in few trading sessions. Regarding TCS, only if it trades above the stoploss level of 1920, one can re enter with the same stoploss. The upside target of 2050 is still valid. One can re-enter ITC, if it moves above 200 region with 198 as stoploss.Hold your long position in Bharti with the same stoploss.

Adhere to the stoploss levels strictly.

NIFTY NEXT TARGET 3600

7 APRIL, NIFTY 3510.90

Nifty is about to test 3600 region in few trading sessions. A short-term correction can be expected around 3600-3650 region.
Tcs seems to be heading towards 2050 region in few trading sessions. Buy with a stop at 1900.
Satyam could test 900 levels in few trading sessions. The stop for the longs is 840.
ITC is heading towards 215 region. Buy with a stop at 200.
Bharti has potential of testing 450 region in few trading sessions. Buy with a stop at 405.

Note: -If the level that I have given as stop-loss is hit, it doesn’t mean that the trend has changed. We are closing the position below the stop-loss only because to take some time to watch the market and to redraw our technical outlook and strategy.

NIFTY BULLISH, STOP 3420

4, APRIL
Nifty 3473.30

Nifty continues to be highly bullish as expected, and higher targets are in store for coming weeks. But a minor correction is possible around 3500 region. If a correction occurs, it can give chance to enter at lower levels.