NIFTY - EW ANALYSIS

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.

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.

NIFTY - START OF BULL OR JUST BEAR RALLY??

Hi Friends,

In my previous post I mentioned about possible Rise in Nifty to 7427 or Higher. As mentioned Nifty bounced sharply to 7584.

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.

IS THE BUDGET SIGNALING END OF BEAR MARKET??

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.

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.