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Niftyshort

Nifty : Where are My Roasted Peanuts ?! Bring it on...Hi Guys, If roasted peanuts are not your favorite snack, Get samosa n chai.. relax for the day. I guess Nifty is going to range for the day and the direction of Nifty will be decided based on RBI outcome. This time we have Monetary Policy Committe ( 6-member panel) discussing what to do with Interest rate n whats best for Economy. Actually, when Urjit patel (Deputy Governor @ RBI in 2014) proposed 5 member panel, at that time RaghuRamRajan (R3) held the top post. The suggestion was 3 members from RBI & 2 members nominated by RBI Governor, it was almost autonomous as there is no intervention from Centre. R3 did what's really good and needed for the economy during his tenure, many times he refused to cut rates ( Awesome Courage, to defy Center's request n to do what's Best for Economy ). So the central Govt. came up with plan and proposed 3 members should be nominated by Govt. so that they can intervene RBI policy decisions ( Bad for autonomous institution like RBI ). Frankly speaking I'm frustrated , annoyed also bcos Central Govt. didn't even try to retain R3. You won't get Economists like R3 who served as Chief Economist at IMF & had contradictory view on Global economy when everyone said world economy is good (2008 crisis). I don't underestimate Urjit & other deputy governors but Raghuram Rajan is real Rockstar Banker. Coming to analysis, I'm not sure why I always try to contradict the market or other expert views ( Kinda R3 effect ? :P ), till RBI meet is over market will range in our zone, it opened right in Bull vs Bear (fight arena ) let them fight and someone will win, we will take that direction. But, I will watch keenly for bearish price reversal confirmation in the zone and love to short Nifty. Probably, a rate cut can send Nifty to volatile mood,thats why I'm suggesting, Grab roasted peanuts or samosa chai & watch Bull Bear ( B vs B fight ) till 11 am... oh wait, new Monetary Policy Committee meetings outcome will be known by 2.30pm only... Cancel that Peanut,Better Order Biryani... Eat & Sleep...
NSE:NIFTYShort
by InsiderB
11
Nifty 50 : Looks can Deceive, So Beware !Nothing fancy today, No patterns or complex wave counts... Simple Double Top in Nifty. But is it Valid Double Top ? Actually, if Nifty is @ 8968's we can vouch that its very much valid double top but its few points away and we have resistance zone also. Nifty is known for its mischievous Gap openings, so lets wait n watch whether we get bearish confirmation in this 8950's-70's zone. We are on hourly, so if you want to check on 15mins, do an analysis before entering short in lower timeframe with Double top on Hourly. Moreover, if Nifty don't go down with Double top 8950's - 9000's play vital role in whats gonna happen next. Its how fast Nifty Crosses this zone or repelled back or Range in the zone. So this zone also plays important role,just keep note of it. More to come in this space...
NSE:NIFTYShort
by InsiderB
9
Nifty : Who can Tame Bulls during Bull Stampede, Anyone ??Note : This setup is only for Aggressive Traders, if you are conservative trader please stay away. Enter only on valid Break of trendline, use stops wisely Remember if we short now, we are standing in midst of Bull stampede. Nothing Scary,Never Fear just Trade the Plan ! The above wordings deserve a repeat bcos of highly risky trade setup. Now two scenario's possible : Scenario 1 : Break of Trendline... Go Short with proper stops Scenario 2 : Retest of Trendline, Initiate long positions with stops mentioned in chart Whatever scenario happens, check your tradeplan before initiating trade. We are standing against Bull Stampede to tame Bulls (Nifty Short positions) but we can just run along with Bulls on Retest (Nifty Long positions)
NSE:NIFTYShort
by InsiderB
4
Nifty : Let's Ride the waves...Happy Monday Friends ! Probably,few have Monday blues but we are the ones who wait for Monday...This particular post is kind-of educative analysis to determine overall view of the markets purely based on prediction from my experience. Let's check our surfboards right away & get it ready to surf along Nifty waves... Next resistance level for Nifty around 8800's to 8850's,lets keep a note of this zone will be used later in analysis. The above chart has two types of Elliott wave counts (nothing complex, simple wave counting only). Wave Type-1 starts @ 8520's & Wave type-2 @ 8540's. In both wavecounts Nifty has completed Wave-2 and now moving along Wave-3 where it's kinda consolidating forming symmetrical triangle pattern. Now we need to look for wave 3 end, check the fib extension levels on Wave-1 for both type-1 & type-2, Fib extensions 1.618 of Wave-1(Type-1) & Fib extensions 2.0 & 2.24 of Wave-1(Type-2) ends up in our marked zone 8800-8850,so Wave-3 will end in this zone. Wave-3 is biggest wave, so what if we get a chance to ride the wave ? Yes, we do have a chance with the symmetrical triangle which we have noticed earlier.Considering that an upper breakout happens in Nifty, we will ride the bulls up to our zone 8800. Now,please take a look at chart again what do we see ? Bearish Crab...coinciding with wave-4, lets remove our Bull shirts and dress up as Bear's till next support in Nifty which is 8700.Then back again to wave-5 upwards to 8900's. So here we are planning for all blooming rosy scenario of 500pts in Nifty. If someother priceaction happens in Nifty other than our all rosy scenario, re-analyse the charts and enter based on confirmation from your tradeplan. Never enter on hope that as we did analysis,Nifty will follow our path.Everything goes well, we will pocket 500pts in next 20 trading days,probably around Sep 20's.With RBI Governor's appointment announced,if market takes it as positive we will get breakout from this triangle. The crux is to enter Wave-3 of Triangle breakout, Wave-4 on Bearish Crab and Wave-5 on simple pullback system.There is another post I did on BankNifty based on Elliott's in-line with this Nifty analysis,check it out. I hope this post is really informative on how to do an analysis n confirm your entry points. Hit Likes if you agree with the content/ideas...They keep me motivated to post more quality analysis... Feel free to leave your comments/opinions...Thanks for your Support ! Happy Trading !!!
NSE:NIFTY
by InsiderB