NIFTY OUTLOOK

"PRICE ACTION"

-FRIDAY WAS A VERY GOOD DAY FOR TRADE
-MARKET DID BREAK SUPPORT AND TEST LEVELS EXPECTED
-BUT THE BOUNCE WAS SHARP FROM THE LOW
-AS WE DISCUSSED EARLIER IN MY ARITCLE A CLOSE BELOW 14450 IS IMPORTANT FOR SUSTAINED DOWNSIDE
-BUT SINCE FTSE REBALANCING WAS EXPECTED MARKET SAW MORE THAN EXPECTED
-NOW IT REMAINS TO BE SEEN WHETHER WE SEE A CLOSE BELOW 14450
-ON THE UPSIDE AGAIN LET SEE IF 14930-14970 IS CAPTURED ON CLOSING BASIS
-I CAPTURED A 490 POINTS MOVE ON THE DOWNSIDE SIMPLY ON THE BASIS OF DEMAND AND SUPPLY
-BOND YIELDS ARE GOING TO BE MENACE FOR THE MARKET
-WHIPSAW CAN BE EXPECTED SO THREAD CAREFULLY
-DOUBLE TOP CHART PATTERN IS IN PLAY


"TRADE VIEW"
-WAIT FOR MARKET TO SUSTAINS ABOVE 14950-14975 TO BUT
-REASON BEING THERE ARE SHORTS IN THE SYSTEM THAT WILL TRIGGER SHORT COVERING
-IF THE MARKET REMAINS SELL ON RALLY THEN MARKET SHOULD NOT SUSTAIN ABOVE 14920-14950
-IT CAN RETEST ITS 20-EMA AND START A FRESH LEG OF SELLING
-REMEMBER I AM A OPTIMISTIC TRADER BUT GREAT MONEY IS MADE WHEN YOU ARE SUPPLYING (SHORT) FEAR TO THE MARKET

"FRIDAY LOW IS CRUICAL FOR ME"
"IF THE LOW IS TAKEN OUT THEN I EXPECT A WATERFALL"
"THEN EXPECTED LEVELS ARE AROUND 13900/13750/13500"