Sunday, August 30, 2015

The Weekly Outlook

Let's recap the important points till now

  • The Fundamentals are settling down now, so any dip below 8000 would be a buying opportunity for Investors. One could also look at quality midcaps below that level.
  • A breakout above 8670 with good volumes should see Nifty carrying all the way till 9019; on the other hand if 8305 is breached then it should go all the way till 7980;
  • The outlook for the Swing is that present state of confusion should be resolved by End of the Aug-F&O-Series
  • Nifty could bounce with a vengeance as long as it trades above 7800.
  • Minimum upside target for the following bounce would be 8383 on the high
  • The Critical HVN is at 8445, which is now a strong resistance; and 8423 is it's entry door
  • Nifty is Bracketing in the Intermediate Term, as evidenced by Composite Overlay Demand Curve

Now the notes for this week

  1. Nifty made a low 7667, and bounced from there, a bounce that has been sluggish so far
  2. And, so far this bounce looks corrective in nature
  3. As long as Nifty trades above 7920, it might continue to strive for 8383, otherwise it might fall down to retest the supports below 7833.
  4. Nifty has been unable to find value below 8485; it may return to that level in a snap
  5. Overall World markets are under pressure, but a retest of recent lows can't be ruled out completely (TYPO:CORRECTED)

Monday, August 24, 2015

China in Your Hand

I had tweeted this a few days back, and there is no change in views



Sunday, August 23, 2015

Stereo Love

Let's recap the Previous Week's Post

  • Nifty has tested the 8315 - 8340 three times.
  • It has also tested 8620 - 8660 twice.
  • As long as 8305 doesn't break Nifty is Bullish, and the Bias remains positive.
  • As long as 8485 doesn't break this week, Nifty will attempt a closing above 8588.
  • The Fundamentals are settling down now, so any dip below 8000 would be a buying opportunity for Investors. One could also look at quality midcaps below that level.
  • A breakout above 8670 with good volumes should see Nifty carrying all the way till 9019; on the other hand if 8305 is breached then it should go all the way till 7980;
  • The general outlook for the week is rangebound with a slight negative bias, the range being 8340 - 8670 with value around 8480 to 8530
  • The outlook for the Swing is that present state of confusion should be resolved by End of the Aug-F&O-Series
  • The Current Elliot Wave Count is "B" from the top of 9119.

To the aforementioned outlook, I am only adding following notes this week

  1. Nifty could bounce with a vengeance as long as it trades above 7800.
  2. Minimum upside target for the following bounce would be 8383 on the high
  3. Maximum upside target for the following bounce would be 9019 on the high
  4. The Critical HVN is at 8445, which is now a strong resistance; and 8423 is it's entry door
  5. Nifty is Bracketing in the Intermediate Term, as evidenced by Composite Overlay Demand Curve


Sunday, August 16, 2015

The Weekly Outlook

  • Nifty has tested the 8315 - 8340 three times.
  • It has also tested 8620 - 8660 twice.
  • As long as 8305 doesn't break Nifty is Bullish, and the Bias remains positive.
  • As long as 8485 doesn't break this week, Nifty will attempt a closing above 8588.
  • The Fundamentals are settling down now, so any dip below 8000 would be a buying opportunity for Investors. One could also look at quality midcaps below that level.
  • A breakout above 8670 with good volumes should see Nifty carrying all the way till 9019; on the other hand if 8305 is breached then it should go all the way till 7980;
  • The general outlook for the week is rangebound with a slight negative bias, the range being 8340 - 8670 with value around 8480 to 8530
  • The outlook for the Swing is that present state of confusion should be resolved by End of the Aug-F&O-Series
  • The Current Elliot Wave Count is "B" from the top of 9119.