Bank Nifty ripe for consolidation, Weekly analysis

Last week we gave  Nifty Chopad level of 16086 Bank Nifty opened with big gap up made low of 16157 and marched  higher made a fresh all time high,As we have FOMC meeting and expiry lying ahead so trades should trade caution as wild moves are bound to come in bank nifty. Lets analyze how to trade Bank Nifty in coming week.

Bank Nifty Hourly

This sis what we discussed in last analysis Bank Nifty hourly charts are trading in contracting triangle, triangle breakout comes above 15150, if broken and closed over it bank nifty is heading to new high towards 16309 by Mahurat trading session. New High was made one day before Mahurat session, Now long should be cautious and profit booking is..

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Nifty ready to march towards all time high,weekly analysis

Last week we gave  Nifty Chopad level of 7883 and Nifty did 2 target of upside rewarding chopad followers by 130 points. Next week is very crucial for global markets as we have FOMC Meeting results coming on 30 , Brazil Election results coming tomorrow. We were able to catch the bottom of Nifty as per Nifty signal bottom formation, FII FnO Data Analysis Next week is first week in October month having 5 trading days and October expiry, so trade with extreme caution. Lets analyze how to trade in expiry week.

 Nifty Hourly Chart

Nifty Hourly charts has broken above the trendline resistance now close above

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W.D. Gann Trading Techniques - I

Gann Trading strategies

• Importance of number 3

Majority of moves will generally occur in time period of three - days, weeks or months.Never trade in the direction of the trend on its third day.

• Tops, bottoms and consolidations

* Tops usually take time to form. Spike tops are less common compared to spike bottoms. Tops are marked by extreme movements in medium and small stocks. They will rise by even 20% in a day. These are called blow offs. Because of this short-selling on extreme top is risky.
* Divergences will appear at the top but they cannot be used for timing the trade. Time cycles shall indicate when the actual reversal will start.
* In bull market watch for a correction which is greater in both price and time than the previous corrections in the move up. (Opposite in the downmoves).
* Highest probability of support is that the corrections in the uptrend will all be very close to equal.

Weak stocks will generally not rally until either a test of the first bottom..

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FII FnO Analysis for Mahurat Trading

• FII's bought 18.6 K contract of Index Future worth 751 cores, 24.6 K Long contract were added by FII's and 5.9 K short contracts  were added  by FII's. Net Open Interest increased  by 30.5 K contract , so FII added long in index futures but are adding shorts.

This is what we discussed in last analysis  yesterday Nifty has taken support @ 100 DMA today, suggesting short term bottom is in place. Nifty has corrected 450 points in this current correction which has lasted for 22 trading days. Shorts needs to be extreme cautious now as the reversal will be fast, we have Diwali and election results coming on Monday so bulls can see a fast and furious come back. Also Dow,European market seems to be making a short term bottom. Nifty has been rising from the day we said..

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Nifty performance from Mahurat trading to last trading day of year

September and October month have seen range bound moves, Few days before on my Facebook page   we discussed the possibility of Nifty setting the stage for big move. Here is some data analysis which will help both traders and investors for next 2 trading months. Last quarter is considered the most strongest quarter and market shows trending moves.  We have discussed one such possibility   Nifty medium term view using Gann which is going good as of now, lets see How nifty end the year...

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