NIFTY

Nifty broke above the crucial 7541 levels but failed to sustain above it as it sharply reversed its gains after hitting a high of 7582. A break of of 7461 level on the downside should be used to exit any initiated long positions as it may indicate an extended correction […]

For the last few days, Nifty has been trading in a congestion zone of 100 points. The last correction of this magnitude in Nifty played out intraday on 29-Feb. This was a wave 2 zig-zag correction as shown in the chart below. Current congestion is likely part of wave 4 […]

We have been tracking two trend lines for quite a few days now in hope of finding an important confirmation signal. The T1 line has reinforced its importance time and again with markets refusing to stay below this line for long. The market rally for two days meant that yesterday […]

Nifty has seen a volatile whipsaw budget action, that has essentially brought the market back to where it started after posting a new low. Price are back into the corrective channel that has been play since March of 2015.It has also closed and managed to stay above the T1 line […]

Much like the parliament, markets have seen a lot of drama without much progress. Nifty reversed from the key level of 7241 outlined in our last report. But significantly enough managed to stay above the low of 6960, thus still keeping the hopes for bulls alive. This is even more significant […]

Our last article outlined a 2-stage confirmation required to confirm if a sustainable bottom is in place. The prices managed to break and stay above line T1 and are now trading close to an important resistance level 7241. Though the price action is not as convincing. In light of this […]

In our last post we mentioned how some indicators have aligned but prices have not. The market action on Friday has given some indication of buying emerging as markets managed to stem and recover from the intra-day fall to close near the opening price of the day creating a Doji. […]

Markets had one of the worst days since April ’15. The news articles in non-financial media reflect this fact: Snapshot from Times of India: Snapshot from Firstpost: Snapshot from Hindu: Snapshot from NDTV: If you have looked at these snapshots closely, you would feel something is wrong, and you would […]

Nifty has invalidated our high probability wave count and is now developing into the 5th leg as per our second most likely scenario outlined in our last post. This doesn’t affect our long term analysis (and bullish outlook) as the prices continue to stay in a channel since the price […]

Consistent with our high priority wave count outlined in our last post, where by we have finished a 5-wave impulse move around 7600 and the correction from highs around 7600 is a wave 2 correction. One may consider going long around current levels of 7285-7315, with a strict stop loss […]