Nifty witnessed an unexpected sharp fall on 13th October. In the process Nifty briefly fell below the 8570-8600 zone and has been trading in the zone since. In spite of the sharp fall, the broader price action witnessed so far is indicating that this fall is probably a correction in the otherwise bullish […]
Nifty: Encouraging Signs: A new normal in offing for Indo-Pak?
Nifty crashed in accordance with our outlook and has taken support around the important 8570-8600 zone mentioned in our previous post. The subsequent rally on Monday is encouraging. The Indo Pak relationship meanwhile has hit a new low. It remains to be seen if we are in for a new normal […]
Nifty: The short term trend channel you should observe
On Thursday Nifty created another gap thanks to a gap up opening. This gap ended up being closed as well by Friday. This gap creation at open and subsequent close has been the prime characteristic of the market since a couple of weeks. This has also meant that the market […]
Nifty: A tale of two Gaps
Nifty broke below the crucial 8720 level and made a low of 8688. Since then Nifty has rallied to 8846 before reversing sharply. In this process it created two Gaps as shown in the chart below: The rally on Friday attempted to fill the Gap 1 but failed, instead ending […]
Nifty reaches crucial level with a delay. Now what?
In our last post on Nifty we pointed to a possible sentiment extreme in the markets, though we needed the market to move below the crucial support of 8866. We were anticipating it to reach this level earlier than it actually did in order for a substantial correction to materialize. […]
Nifty & Sensex: #Sensex trends on twitter. What now?
Nifty rallied from our crucial support of 8540 and hit our target of 8800 last week. Early this week the momentum seems to have continued. At the time of writing this article markets are trading close to the T1 trend line. The volumes so far are tepid which may warn towards […]
Gold’s Next move: Crucial Level To decide
Our regular readers would remember how we have been bullish on Gold since December of 2015 (Refer: Can Gold shine in 2016?). The precious metal has not disappointed, meeting our initial target of $1330 right after the Brexit poll outcome. Right now Gold is placed close to an important level which […]
In our last update on Nifty we pointed out how Nifty has been trading in between two trend lines. We also mentioned a crucial support around 8540 levels. Chart Below: Nifty has since tested the lower trendline T2 and managed to close above it. It has also take support just […]
Here is a snapshot of Nifty move in last few days: August 3: Closes Down by 79 points August 4: Closes Flat (compared to previous close) August 5: Closes Up over 130 points August 8: Closes Up by 28 points August 9: Closes Down by 33 points August 10: Closes […]
Just Dial: Is Wrong Wave Count = Losses?
In April I shared a post on Just Dial: Power of Wave Analysis in dealing with incomplete data. To quote from the article: Once prices bounce off the lower end of this trend channel and develop a 5-wave upward move of lesser degree. This is a clear indication that we may have […]