ARE YOU GUYS BEING PANIC BY SEEING AMERICAN MARKET, YOU SHOULD BE, BUT DON'T BE. ONE MORE MOVE ABOVE 5900 AND DOW JONES ABOVE 13300 IS ON CARD. DUE TO GLOBAL WEAKNESS OUR MARKET MAY REMAIN NEGATIVE FOR TWO OR THREE DAYS BUT ONE MORE UP MOVE IS DUE.
NIFTY 5700 PUT ADDED 1443600 FRESH CONTRACT IN OPEN INTEREST.
NIFTY5800 PUT ADDED 1385000 FRESH CONTRACTS IN OPEN INTEREST.
NIFTY 5600 PUT STANDING WITH HIGHEST OPEN INTEREST AT 7438100 INDICATING FURTHER THAT 5600 IS STRONG BASE FOR NIFTY IN NOV SERIES.
NIFTY FUTURE UP BY 26 POINTS AND OPEN INTEREST INCREASED BY 3% IN NIFTY FUTURE INDICATING THAT FRESH LONG POSITION HAS BEEN ADDED INTO THE SYSTEM TODAY.
NOW LETS TALK ABOUT THE CHARTS. THERE IS NO ANY SELL SIGNAL ON EOD CHARTS. BUT AS PER ELLIOT WAVE THEORY ONE MORE UPMOVE SHOULD HAPPEN ABOVE 5900. AS YOU ARE SEEING THE CHART BELOW YOU WILL FIND THAT MARKET CLOSED TODAY ABOVE 68.2% FEB LEVEL. NEXT LEVEL IS 78% WHICH COMES AT 5950. AND THAT LEVEL IS DUE IN OUR MARKET TO COMPLETE THE WAVE. MONTHLY CHART SUGGEST THAT WE ARE IN C OF (B) OF [C] AND WE MAY SEE SOME MORE UP MOVE TILL 5950 TO COMPLETE THIS FULL WAVE. ONCE THIS IS DONE WE MAY SEE C WAVE DOWN TOWARDS 3600 LEVEL. BELOW MONTHLY CHARTS THERE IS WEEKLY CHARTS GIVEN. HERE YOU WILL CLEARLY SEE THAT WAVE HAS DEVELOPED BEAUTIFULLY AND A PARALLEL LINE HAS DRAWN ON THE CHART. AND PRICES SHOULD TOUCH OR GO NEAR THE LINE TO COMPLETE THE WAVE. 78% FIBONACCI LEVEL IS ALSO COMING THERE AROUND 5950. THEREFOR TECHNICALLY IF FALL HAPPEN IN OUR INDIAN MARKET SHOULD GRAB AT LOWER LEVEL FOR THE TARGET OF 5950. FII BOUGHT 728 CORES IN CASH MARKET TODAY. FIIS HAVE BEEN CONTINUOUS BUYER IN INDIAN MARKET SINCE LAST TWO MONTHS. NIFTY SPOT STRONG SUPPORT AT 5680 AND 5650 USE THIS LEVEL IN BUYING. STOPLOSS SHOULD BE 5585.
GOOD LUCK
