20000 or 19000 - Nifty headed which direction??

Firstly, I'm not registered with Sebi.
Secondly, this is just my view on how the markets are/will be moving - use your own judgement.

I'm planning to publish my thoughts on the index movement here, will try to provide regular updates, but no promises. I have been wrong earlier, and can be wrong again.

Back to Index now -

10:30 AM - Spot 19674

Targets - 19700, 19724 & probably 19747
Stop loss - 19647

Good luck!

Comment:

Regarding which one first - 20000 level or 19000 level, I don't want to make any prediction now. Nifty's moves this week will provide some hints.

Comment:

11:38 AM - Nifty made a high of 19719.6
Target 1 done - 19700(26 points)
Target 2 - 19724 - let's say for now it's done as well (45 points move captured)

We may see some pullback now. So I would close longs, and wait for a better entry.

Comment:

12:30 PM. Nifty around 19684

3rd Target is still on, and you may get a better entry if you stay patient.

Comment:

1:37 PM. Nifty around 19700
2 Choices

1. Safer option. Go long above 19720 - target 19745, 19757. Less Reward.
2. Riskier. Go long around 19660-19680. Stop loss 19647. Targets - 19700, 19745, 19757. Higher Reward.

For now, downside does look limited - if nifty goes below 19600, may have to change my view.

Good luck!

Comment:

Nifty spent the last one hour in a 30point range.

For now, it's buy on dip. Please note the bullish view is for a very short term, with a possibility of reversal soon.

Comment:

And finally..one like!

Comment:

2:50 PM. Nifty@ 19710.

If Nifty goes below 19700, short nifty for a targets 19680, 19667. Strict stop loss 19712. Very short-term bet.

Comment:

Also, if Nifty goes above 19720, go long with the targets mentioned earlier.

Comment:

All buy targets reached. 19720 to 19757 (37 point move)

Just book your profits..and sign off for the day..

Nifty possibly can may make a move till 19780-19790, but hold your longs at your own risk.

Comment:

Adding a new post for tomorrow.