Hi Friends,
As mentioned in my previous post after breaking 8065 Nifty extended the Down Trend. Nifty is Forming a Head & Shoulders Pattern. This Pattern suggesting that the Current Down Trend may extend for another month or two and there may be another 5-10% Decline in Market.
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| NIFTY HNS |
The Neckline of the HNS is at 7927 and previous Swing Low Support at 7916. Nifty may take Support near 7896 and Rebound. If Bulls manage to protect 7896 Nifty may Rebound to 8065, 8112. We can expect a Range-bound action in the last week of the year. Yearly close might be near 7972. Bulls will try to give a Yearly Doji Close.
As mentioned currently Nifty seems to be still in Corrective Mode in Wave (II). Until Bulls take out Previous Swing High of 8275 Nifty would Remain in Down Trend. Bull Market will Resume above 8275, 8338. If Bears break the support at 7896 Nifty may Decline to 7678 or lower to 7489.
Currently we need to watch price action near 7896 and 8112 carefully to determine future course of action. As mentioned Nifty is in Wave (II). Investors need to stay aside and find Stock Specific Opportunities oven next 2 months to make Investment in Equities. Those who missed the Opportunity in Feb 2016 can surely look to Invest in next 2 months as the Market Bottoms Out.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
As mentioned in my previous post after breaking 8191 Nifty started declining again. Nifty failing to break out of the Falling Channel. However, Nifty again took support near 8065, which is a very Strong Support. There maybe a Rebound in Nifty towards 8130-8180. However Bulls need to break the Resistance at 8338 to Resume Bull Trend.
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| NIFTY |
As mentioned currently Nifty seems to be still in Corrective Mode in Wave (II). Currently we are at Crucial Juncture. If Bulls manage to take out 8338 and 8489 it would be Highly Bullish Confirmation of a Resumption of Bull Market. However, if Bears break the support at 8065 Nifty may Decline to 7678 or even lower.
Currently we need to watch price action near 8065 and 8338 carefully to determine future course of action. As mentioned Nifty is close to forming a Bottom in Wave (II). Investors need to find Stock Specific Opportunities to make Investment in Equities. Those who missed the Opportunity in Feb 2016 can surely look to Invest in next 2 months.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
As mentioned in my previous post Nifty again took support near 8060 and broke above 8160. Nifty has broken above previous Swing High of 8250 and also trying to brake out of Falling Channel. This might be an Indication of Possible Trend Change. However Bulls need to break the Resistance at 8338 to confirm Bullish Reversal.
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| NIFTY |
Nifty tested 8275 and has given a Hanging Man Candlestick Pattern on Daily Chart which is Bearish Signal. However, as mentioned earlier a single candlestick doesn't have much significance and Bears need to break below 8243-8191 to resume Down Trend. As mentioned currently Nifty seems to be still in Corrective Mode in Wave (II). Currently we are at crucial juncture. On Weekly Chart Nifty has given a Bullish Signal and on Daily it's giving a Bearish Signal. If Bulls manage to take out 8338 and 8489 it would be Highly Bullish Confirmation of a possible Trend Change. However, if Bears break the support at 8191 Nifty may resume Down Trend. If Bears manage to take out 8191 Nifty may decline to 7777, 7678 or even lower.
Currently we need to watch price action near 8191 and 8338 carefully to determine future course of action. As mentioned Nifty is close to forming a Bottom in Wave (II). Investors need to find Stock Specific Opportunities to make Investment in Equities. Those who missed the Opportunity in Feb 2016 can surely look to Invest in next 2 months.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
As mentioned in my previous post Nifty took support at 8065 and broke above 8140. After breakout above 8140 Nifty tested 8250 and started declining. Nifty erased all the gains made in a week and closed at 8087.
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| NIFTY Weekly |
As mentioned currently Nifty seems to be still in Corrective Mode in Wave (II). On weekly chart Nifty formed a Gravestone Doji which is a Bearish Signal. However, Bears need to break the support at 8065 to resume Down Trend. If Bears manage to take out 8065 Nifty may decline to 7777 or lower to 7678. If Bears fail to break below 8065 and Bulls manage to take out 8159 Nifty may start rising again and may test 8337.
Currently we need to watch price action near 8065 and 8159 carefully to determine future course of action. As mentioned Nifty is close to forming a Bottom in Wave (II). Investors need to find Stock Specific Opportunities to make Investment in Equities. Those who missed the Opportunity in Feb 2016 can surely look to Invest in next 2 months.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
In my previous post I mentioned about possible Bottom in Nifty upon breakout above 8550. After testing 8000 on News of Demonetization Nifty rebounded sharply. Bulls tried to cross 8550 however failed to sustain above it. Nifty started declining again and tested 7916. Nifty tested important support of previous Swing Low and started bouncing again and closed above 8100.
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| Nifty Weekly |
Currently Nifty seems to be still in Corrective Mode in Wave (II). On weekly chart Nifty has given a Hammer close which is an Indication of short term Trend Reversal. If Bulls manage to take out 8140 Nifty may rise to 8240, 8285 or Higher to 8337. If Bulls fail to protect support at 8065 Nifty may start declining again and may test 7850. Currently there is no indication of end of Bear Phase. However if Bulls manage to break above 8550 Resistance it will be an indication of start of Fresh Bull Run. If Bulls manage to take out 8550 and sustain above it on weekly closing basis Nifty may rise in Wave (III) to 10500, 11500 or Higher in next 8 to 12 months.
Currently we need to watch price action near 8330 and 8550 carefully to determine future course of action. Currently there may be a Bounce in Nifty and the Final Bottom may occur in Jan 2017. Investors need to find Stock specific Opportunity to make Investment in Equities. Those who missed the Opportunity in Feb 2016 can surely look to Invest in next 2 months.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
As mentioned in my previous post after breakdown below 8500 it's time to revise Analysis on Nifty and look for alternate Wave Count. Nifty formed a Head & Shoulders Pattern and broke below 8500 in last week. Bulls tried to protect 8500 however failed to do so. Nifty broke below 8500 as a result of worries over the Outcome of US Presidential Election and sudden decision by PMO to cancel Rs. 500 & Rs. 1000 Currency Notes. It was a sudden reaction and was Unexpected to many including me. Though the H&S breakdown suggested decline to 8100 sudden Crash to 8100 was unexpected.
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| NIFTY |
As mentioned earlier it's time to change the Wave Count. Nifty seem to have completed it's Motive Wave (I) on larger degree at 8968 as depicted in the Fresh Wave Count in above Chart. Post the H&S breakdown Nifty has already achieved the Pattern Target. Nifty retraced 38.2% and closed above the support zone. After this sudden reaction and decline to 8002 Nifty recovered from the lows and close above 8400. Nifty tested the previous breakout and a Psychological Support at 8000 and bounced back sharply. This could be the indication of Panic Bottom in Place.
Currently Nifty seems to have completed Correction in Wave (II) at 8002 and started a Rise in Fresh Motive Wave Up which is still to be confirmed. Currently Bulls need to break above 8550 and 8670 Resistance to confirm the start of Fresh Bull Run. If Bulls manage to take out 8550-8670 and sustain above it on weekly closing basis Nifty may rise in Wave (III) to 10500, 11500 or Higher in next 8 to 12 months.
Currently we need to watch price action near 8550 and 8670 carefully to determine future course of action. Here comes the Opportunity to make additional Investment in Equities. Those who missed the Opportunity in Feb 2016 can surely look to Invest now.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
It's been a long time I have posted on Nifty. As mentioned in my previous post Nifty remained in prolonged Correction over last few weeks. After testing 8969 Nifty corrected to 8506. After testing major support near 8500 Nifty bounced back sharply above 8700 and formed a Hammer on Weekly Chart. This is an indication of a possible Rise in Nifty in near term future.
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| NIFTY |
Currently Nifty seems to have completed Correction in Wave 4 at 8506 and started a Rise in Wave 5. Currently Support is at 8670, 8630 and Resistance at 8750, 8770. If Bulls manage to take out 8750-8770 Nifty may rise in Wave 5 to 9200 and 9500 or Higher.
Currently we need to watch price action near 8670 and 8770 carefully to determine future course of action. Until Nifty stays above 8630 I would like to stick to this Wave Count. I will look for any other Count only in case Bulls fail to protect 8630 and major support at 8500.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
It's been a long time I have posted on Nifty. As I have been mentioning in my posts about the start of Bull Run; Nifty has breached all the barriers to conclude the Start of Bull Market. Currently Nifty is at crucial juncture. After forming a Doji Star on Weekly Chart last week, Nifty tested 8645 and started declining today. Nifty has strong Resistance near 8655 and there is Negative Divergence on RSI. All of these are indications of a possible Decline in Nifty in near term future.
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| NIFTY |
Currently Nifty seems to be in Extended 3rd Wave of the New Bull Market which started in March 2016. Nifty seem to have completed Wave (I) of Extended 3rd Wave at 8645. Nifty may decline to 8370 in Wave (II) of the Extended 3rd Wave in case it is unable to cross 8655. This Correction may take 8-10 sessions. Post that Nifty may resume it's Uptrend in Wave (III) of 3.
Currently Supports are at 8475, 8370, 8287. Correction in Wave (II) of 3 shall ideally not go beyond 8287. If Bulls manage to protect 8287 Nifty may resume its Uptrend. Assuming it's an Extended 3rd Wave, (III) of 3 may take Nifty to New High near 9500.
Currently we need to watch price action near 8655 and 8287 carefully to determine future course of action. Until Nifty stays above 8287 I would like to stick to this Wave Count. I will look for any other Count only in case Bulls fail to protect 8287.
Currently we need to Book Partial Profit and wait for Correction to get over. Once this Correction gets over Nifty will be ready to Scale New Highs. On a Larger Scale once Nifty breaks and sustains above 8655 on weekly closing basis it might be ready to go to 10,500 till 1st Quarter of 2017. It's a Mother of Bull Market and has Long Way to go.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
In my previous post I mentioned about the Diagonal in Nifty. As mentioned Nifty tested 7777, however failed to close above the Resistance. After forming a Doji Satr on Daily and Hanging Man on Weekly Chart Nifty started declining this week. Today it dropped sharply post RBI Policy and formed Bearish Engulfing candlestick pattern; which is an Indication of Reversal.
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| NIFTY |
The current Rise in Nifty might be a Leading Diagonal in Wave 1 of New Bull Market or just an 'X' Wave of the year long Bear Market. Nifty has not yet given a Breakout of the Channel Resistance. So there is no strong evidence to conclude this Rise as Start of Bull.
Currently Supports are at 7588,7553,7486 and 7405. If we assume this Rise as Leading Diagonal in Wave 1; Correction in Wave 2 shall ideally not go beyond 7405. If Bulls manage to protect 7405 Nifty may resume its Up Trend. However, failure to protect 7405 may lead to resumption of the year long Down Trend in Nifty. Bulls must protect 7405 and cross 7760 in next 3-4 weeks, else a sharp decline to 6647-6567 in April/May shall be the End of year long Bear Market.
Currently we don't know whether this Rise is a part of New Bull or just a Bear Market Rally; however we can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7760. We need to watch price action near 7405 and 7760 very carefully to determine the future movement of Market.
One may start accumulating Stocks now and Build a Portfolio during April-May 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
In my previous post I mentioned about the Resistance near 7727 on Nifty. As mentioned Nifty tested 7749, however failed to close above the Resistance. After forming a Doji Satr on previous day Nifty tested 7749 but dropped sharply and formed Bearish Engulfing candlestick pattern; which is an Indication of Reversal.
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| NIFTY |
The current Rise in Nifty might be a part of Leading Diagonal in Wave 1 of New Bull Market or just a part of 'X' Wave of the year long Bear Market. If Bulls manage to protect 7604 Nifty may resume its Up Trend in 'e' leg of Leading Diagonal. However, failure to protect 7604 may lead to resumption of the year long Down Trend in Nifty. Bulls must protect 7604 and cross 7749 in next 5-6 trading sessions, else a sharp decline to 6647-6567 in April/May shall be the End of year long Bear Market.
Currently we don't know whether this Rise is a part of New Bull or just a Bear Market Rally; however we can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7749. We need to watch price action near 7604 and 7749 very carefully to determine the future movement of Market.
One may start accumulating Stocks now and Build a Portfolio during April 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
In my previous post I mentioned about possible Rise in Nifty to 7427 or Higher. As mentioned Nifty bounced sharply to 7584.
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| NIFTY |
After testing 7584 Nifty formed Doji candlestick pattern and there is Negative Divergence on RSI; which is a Indication of Reversal. Nifty seem to have formed a Short Term Top and a much awaited Dip looks on cards.
The current Rise in Nifty might be Wave 1 of New Bull Market or just a part of 'X' Wave of the year long Bear Market. If Bulls fail to protect 7406 Nifty may decline to 7295 or 7205 in Wave 2/b. Post this decline Nifty may resume it's Uptrend. However, if Bulls fail to cross 7605-7727 in next 2-3 weeks a sharp decline to 6647-6567 in April shall be End of year long Bear Market.
Currently we don't know whether this Rise is a part of New Bull or just a Bear Market Rally; however we can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7727.
We need to watch price action near 7205 and 7605-7727 very carefully to determine the future movement of Market.
One may start accumulating Stocks now and Build a Portfolio during March-April 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
In my previous post I mentioned about possible decline in Nifty to 6839 in case of failure to cross 7243. As mentioned Nifty bounced to 7252 and thereafter declined sharply to 6826 in 'Y' wave of the Complex Correction.
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| NIFTY |
After testing 6826 Nifty recovered sharply and formed Hammer candlestick pattern and there is Positive Divergence on RSI; which is a Strong Indication of Reversal. Nifty seem to have formed a Short Term Bottom and a Fast & Furious Post Budget Rally looks on cards. If Bulls manage to protect 6960 Nifty may bounce to 7275, 7363 or 7427.
Nifty tested the Lower end of the Downward Sloping Channel within which it is Trading since last One year. Nifty is in Downtrend since almost a year now. The Market participants are extremely Fearful and the Consensus is Bearish. All these are Signs of Nifty Forming a Long Term Bottom and there could be an End of Bear Market. Currently we don't have a definite answer; however one can start accumulating Stocks now for better returns over next 2-3 years. We can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7727.
Post the Budget Rally Nifty may decline again in it's final leg of Correction and test 6647, 6617 in April 2016. We need to watch price action near 7427 very carefully.
One may start accumulating Stocks now and Build a Portfolio during March-April 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
In my previous post I mentioned about possible decline in Nifty to 7119 and lower. As mentioned Nifty indeed declined in 'Y' wave of the complex correction to 6869.
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| NIFTY |
After testing 6869 Nifty recovered and formed Hammer candlestick pattern; which is a sign of Reversal. Nifty may have formed a Short term Bottom and a Fast & Furious Budget Rally looks on cards. If Bulls manage to cross 7191-7243 Nifty may bounce to 7554, 7604. Failure to cross 7243 may indicate one more down leg to 6839. However, downside looks limited. And a Strong Rally to 7500+ looks very likely.
The major question which arises to everyone's mind is "Whether Nifty is Forming a Long Term Bottom and the Bear Market is Over?" Currently we don't have a definite answer; however one can start accumulating Stocks now for better returns over next 2-3 years. We can say the Bear Market is over once Nifty Decisively Breaks Resistance near 7980.
Post the Budget Rally Nifty may decline again in it's final leg of Correction and test 6697, 6647 in April 2016. We need to watch price action near 7604 very carefully.
One may start accumulating Stocks now and Build a Portfolio during Feb to April 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now.
Thanks & Regards,
Harsh Dixit.
Hi Friends,
In my previous post I mentioned about Santa Claus Rally on Nifty. As mentioned Nifty indeed gave a Santa Claus Rally in 'X' wave of the complex correction to 7972 in Dec 2015.
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| NIFTY |
However 'X' wave seem to have truncated and complete at 7972. As expected Nifty started declining after completion of 'X' wave.
Today after testing 7425 Nifty gave a vertical rise and closed positive. Nifty formed a long legged Doji; which is a sign of reversal. Nifty may bounce to 7633, 7699 or 7721 in next 4-5 days. Until Nifty stays below the Previous Resistance near 7980 it may further continue it's decline to 7200 and 6800 in 'Y' wave of the complex correction. Only a sustained move above 8000 would be an indication of end of downtrend. And hence, I would look for any alternate wave count only above 8000.
The current decline is similar to the correction of 2011. Indian Market generally witnesses a major correction of approx. 30-40% in every 7-8 years. And it is observed that the corrective phase generally lasts for 11-13 months. Nifty Topped out in March 2015. So the current decline may last till April 2016; and Nifty may bottom out near 6800.
April 2016 may bring once in lifetime opportunity to Invest in Equities. So lets wait and watch.
Thanks & Regards,
Harsh Dixit.
