Nifty : Welcome Samvat 2073 New Year !

NSE:NIFTY   Nifty 50 Index
Let's Welcome Samvat 2073 (Trading New-year) ! Any of you did Muhurat Trading yesterday, to acquire long term stocks ? Usually people open New accounts during Diwali ( Muhurat Trading ). People has strong belief it brings them good luck... Great ! Though I never followed that, I appreciate bcos people feel overall confident that Lucky charm is with them throughout the year ahead.

15 Days... 15 Superb days,I didn't have any position in Nifty , no short term or intraday trades in last 15 days, had good fun & enjoyed the festvities lot. Hope all of you guys had loads of fun during the holidays.
Now, back to Business moment, so what Nifty have for Us ?! From what I see & analyze, Bear chances are readily available, if you expect bullish chances we may need to wait for better opportunity to strike right.

Scene 1 : On Bearish Reversal, 8660's-8640's initiate shorts / Even look for the trendline break {bcos of steep trendline Nifty may open after trendline, so re-draw that line accordingly}

Scene 2 : If Gap up or upside move happens first after that if Nifty faces resistance around the red trendline (4hr or Daily trendline ), so it will be powerful area to watchout.

On both the scenarios we are looking for shorts in Nifty and targets around 8560's & 8500's, depending on your plan choose your stops wisely. Now lets see what if both scenario's didn't happen ? That makes us to look for Bulls, I don't have enter right-now scenario for long in Nifty . But the 8500's zone or move above trendline(red) will be wonderful chance for longs.

We are coming back after 15 days, so don't expect ride to be smooth on first attempt, gradually we will get hold of Nifty . There is a triangle in 4h and trendline ( downside) in Daily timeframe , if you want to see in Bird's eyeview draw those on charts you can get better view.If its confusing draw n post below, we will solve together, Not just Nifty ... any type of analysis on any chart, we can do it all !

Let's control our excitement ??? Today is for all the above scenario's wait for 2mrw !
Lets hope that this New year gives all success in our trading & Best in our Life...
Comment: Blast from Past, This one deserves to be mentioned, right ?! Just follow the Plan, the Game is Yours ! Book Profits ..


All the best for Samvat 2073, Good Start for New year.
+1 Reply
Thank you, wish you the same :)
@InsiderB welcome back! i for one was missing your analysis badly, because you put out the most comprehensive analysis with the most illustrative charts in the forum for Nifty. Still dont know when we can see some of these for Bank Nifty ;). anyways lets start the new year trades with loads of profit. Now to Nifty, so effectively 3 positions ie; 8630/8660 &8690 to look out for taking shorts... longs don't look like coming swiftly ie; only if it crosses 8690+
+1 Reply
Thank you so much for the trust you have on Me & My charts ,really glad :) Pretty much I agree with your words about Nifty. BankNifty lets start from 2mrw, New years are for New Beginnings , I think thats title worthy for 2mrw post ;)
Welcome back to the ring InsiderB. Wish you too a very Happy Diwali and Prosperous New Year !!!!
+1 Reply
InsiderB ShanTrader
Thanks Shan, Wish you a great trading year ahead, All the Best !
All the Best for your trades :)