Google+ June 2009 ~ NIFTY DEMYSTIFIED

Saturday, June 27, 2009


Hi frenz.. I'll be leaving out for Lucknow today for 4 days in some family matters.. so wont be able to post upto next wednesday :( ... I'll be live n kickin on the blog again from next thursday onwards.
Till then have great time and trade safe!! Take care u all.. miss ya ppl! :D

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VIEW FOR 29-06-2009

After hitting 4303 in the morning we came down towards support of 4257-4275 and reversed from that place (low made 4252). We hit our main level 4331 (high 4339) and then again retraced before breaking that level finally to give a fresh breakout. Now it has tested our another of 4387 (high 4394), it is poised for higher levels again.

So for Monday, it'll be bullish buy on dips scenario as of now. (if we get the dip first).

Supports: 4375 is important for first few minutes trade. Breaking that It may dip down towards
4345/55. which I feel is very important. Below that 4302 Is the big area to watch out for.

Resistances: Biggest hurdle is there at 4420-31 zone. I wish to book some profit of my holding longs there. and wait for the proper signal to be generated on either sides. Big Big place. Above that 4483-4541 can come very easily. But before that it'll be a test for the bulls at 4420/31 zone.

Happy trading! All the best :). Have a gr8 weekend!
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Friday, June 26, 2009

VIEW FOR 26-06-2009

Supports: 4224/17 & 4200 remain the most important place. Below that nifty can e weak and target 4185/60-4122-4090/70 and finally 4044.
Resistances:4257 and then 4275 is the important place to watch out for. Above that nifty will target 4295-4321/4331 . Crossing 4331/21 will be bullish to take it up towards.4387,
4407/4415(main targets) & 4436 (aggressive target).
Trade safe.
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Thursday, June 25, 2009

VIEW FOR 25-06-2009

It was asserted, "a dip after crossing 4275, can be buying opportunity (in that case 4223 can act as very good support)", we broke 4275 while making a high of 4283 and dipped down to 4218. We held 4209 successfully and swirled exactly upto our one of the resistances of 4317. The current scenario is like.

So we are currently witnessing and trading in a uptrend, though on the smallest of time frame (5-10 minutes). But the fuel for this uptrend remains intact as long it's holding 4275 for the final targets near 4245/53 zone, and it's a buy for the day.

Supports: 4289-4275; 4275 is the main area for bulls to maintain the upward momentum. Below 4275/72 it can target 4260/55-4236-4224/17 zone in a probable 5 wave downmove.

Resistances:4318/23 and the big 4345/52 zone. Will book longs once around this level for sure and wait for proper signal. A convincing cross above 4355 will target 4385 and 4422/30 on the upside.

Trade safe! :)
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Wednesday, June 24, 2009

VIEW FOR 24-06-2009

Supports: 4223-4209, clearly 4209 is the most crucial area. Breaking that it'll target 4185 once again. Breaking 4185 it'll target our previously discussed targets again.
Resistance: Breaking 4275 it will target 4290/95, but as discussed a dip after crossing 4275, can be buying opportunity (in that case 4223 can act as very good support). Above 4295, it will target 4317 and 4343/45. Big zone.
Volatile could be the name of the day! :)
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Tuesday, June 23, 2009

VIEW FOR 23-06-2009

After a failure attempt to sustain above 4345 (high 4355), we headed down towards 4285, again tried to hold. But every effort by the bulls were like some wild goose chase. We closes at days low and ready to test the previous lows once again. Take a look here...

Clearly, 4120/15 is the most crucial now. There will be some big bulls waiting to give one try. Below that it'll be kinda 5 wave down move on the larger degree of the cycle.

And for the day,
Supports: 4205-4190 is crucial for intraday. Some bounce may take place if we can hold that zone. Below that 4164/61 and the big 4120/15 will come. 4090 is another support because of the data aberration. It would be safer to initiate positional shorts again below 4090, after covering it around 4120.
Resistances: 4235/37 will be important to watch out for. Above that 4275-4295 possible.
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Sunday, June 21, 2009


We bounced from the support 4204 (low 4202), a converging place for 3 supports as drawn earlier.

A forward projection from hourly perspective pointing the supports towards 4285-4256-4203 again. 4285 very likely to be a pivotal place for Nifty. So for the coming session:

Supports: Holding 4285 will be bullish and will head higher to upper targets. Below 4285, 4256 another important place to watch. Breaking that it will head down to 4203 again.
Resistances: 4340/4345 is the primary barrier as of now. Above that 4390-4417/20 is possible. (Will use a filter around 4427 for confirmation of another breakout, my strategy).

Have a nice end of the weekend ... :D.. Cya tomorrow!
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Friday, June 19, 2009

VIEW FOR 19-06-2009

We could not cross 4388/96 as discussed yesterday, and fell right from there after recording a high of 4382. On the first half it might have taken some S/L because of the extreme volatility when it broke 4320 and bounced from there, but the failure to cross 4388/96 brought the breakdown, and achieved our destination of 4246, by recording a low of 4231. Now what? Bounce?

Well, it's on the card, but it will be and out an out correction on the upside as long it's not able to break 4330-34 level convincingly. A successful breach of that level on the upside may target 4386/88-4427/44 and finally 4474/80 level. Hitting of 4386 will create a pivot near 4330 zone, which may emerge as a s/l for longs for the further upside for

On the lower side Days support will be around 4252/46, below that
it'll challenge the days low again, while next targets will be 4202/89-4156-4116.

Supports: 4252/46.. below that last day's low will be at risk. Lower targets will be 4204/89-4156-4116;
Resistances: 4295-4330/33-4353 (minor).. above these, 4388-4427/44-4466/80.
Happy trading.
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Thursday, June 18, 2009


This is the chart which was posted on 15Th while posting my views for 16Th of June, where I stated, "Below 4480, Nifty will be weaker and target 4437-30 level, which can be crucial, breaking that will bring further weakness up to 4385 and 4330-25, Which will be a trend decider for intermediate term movements." And next movement was like...

We have tested exactly 4325 zone today, and more over its converging with the 61.8RT of the entire 4090-4703 movements, thus providing it a bigger significance Now look at one thing, I have drawn a dotted vertical line at our first projection at 4430, where we got the extreme projection of 4430-25 as well on the same day, converging with the lower support of the expanding triangle (detailed explanation here). Now my question is as we have reached the extreme target today, while it was projected earlier, is this any sign of exhaustion on the bear's part? And a trendline support on daily..

So, no doubt here lies some big bulls who can and who should give some push up to nifty tomorrow, at least for sometime, further momentum will be judged from the early movements. So, whether we break it or not, 4330-20 is the place where I wish to book some shorts and wait for the decisive move. Of course will look forward to bigger shorts when we break 4320 decisively.

So for the coming session,
Support: 4330-25 is all important and big. A decisive break below that would initiate breakdown and will bring 4255/46-4189 and further lower lower levels.
Resistances: 4388/96-4430/38 . Above 4430/38 odd zone bulls will get momentum again.

As of the keep eyes wide open on 4320. Safe trading....Happy trading :)
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Wednesday, June 17, 2009


Shorted 4507 s/l 4525. Booked 4458. :)
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We are moving on the pivotal 4496/94. As discussed on the previous post.

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We have broken down the first BC=1.618*AB at 4496 and got resistance there. That's crucial for the day. Above the today's 4466..4492..4472 has a 1.618 @ 4516/4519, Which can be a safe s/l for the shorts. But as of now eyes on 4496.
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Now one thing off topic from coming session's levels. We got two projections for both up and downside as 4736 and 4479 respectively. Amazingly these are the levels we got previously. So mathematically(as fib is part of maths) one level is coming time and again can prove the validation of the calculations irrespective of achieving those levels.
The next chart is the impulse move on the 1 min chart.

So for the coming Sessions:

Supports: 4479-75 will be the key area for bulls to hold. with intermediate support with 4509 and 4496. Below 4475 it can target 4460-4445-4423 respectively.
Resistances:Above 4548/55 it will target 4592/4603. Above which A new impulse will take it towards 4625/35-4692/4710-4737.

Note: Today I have used 10 points filter in most of the levels because of the data aberration. But primary or first written levels should be stressed upon.
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