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NIFTY LATEST ELLIOTT WAVE PRICE RELATIONSHIP

CLICK ON CHART FOR LARGER VIEW

NIFTY X-RAY REPORT FOR 15 MARCH

The market gave surprise fall and surprise hike in nifty price in today's session. As the news came flashed in morning session of money laundering of Banks nifty fell sharply below 5700 also but soon it recovered from morning loss.  Winners enjoyed rally to much and Nifty closed at 5908.95 with PSU Bank  was the best performer in today's trade. The Sensex closed at 19570.43, up 207.88 points from its previous close, and the Nifty closed at 5908.95, up 57.75 points. The CNX Midcap index was up 0.79% while the CNX Smallcap index gained only 0.12% in today's trade. The market breadth was positive with advances at 546 against declines of 518 on the NSE. The Bank index was up by 2.07% in last session and closed at 12020.75. Maruti jumped 3.55% highest on nifty 50 group while Bajaj Auto was the biggest looser with -2.22% in last session.

Nifty closed with highly positive sentiment up 0.99% in Last session. As per nifty Relative Strength Indicator (RSI), it is in highly positive zone. The recent price pattern on nifty daily chart had given trend reversal from 5663 with improving RSI towards upside in near term and it seems that nifty has made strong base near 5700. Nifty fell below today 5700 but soon it recovered fastly. stock may give more rise from here in near future. Nifty was in short term down trend till Monday but now it is in short term up trend. Nifty closed yesterday below 20 day moving avrages but soon it came above 20 DMA today and gave a positive signal. A good Bullish Candlestick pattern has formed on NIFTY EOD chart in last session Prior to pattern formation this Index was in short term downtrend. As per slow stochastic , NIFTY is in sell mode.

Nifty 5700 put highest open interest push nifty up very soon today and it didn't give allowance to remain it below 5700 level. Today in morning session 5800 and 5900 call added more than 12 lakh fresh open interest but in latter half all the open interest addition disappeared and finally 5900 call decreased more than 6 lakh fresh open interest indicating possibilities in near term.  As nifty was up by 57  points and open interest decreased from in 5900 and 5800 call indicating strength towards upside after continuing down three days short term down trend. Put call ratio is at 1.18  indicating for bull trend. 

FIIs bought index future worth Rs. 45.43 cores and open interest decreased by 2.7%, as nifty future was up by 57 points and open interest decreased indicating that FIIs have covered their shorts.

LAST   HIGH - 5920  LAST LOW - 5791.75
WEEKLY HIGH - 5971 WEEKLY LOW - 5791.75
5 DMA DAILY - 5912
20 DMA DAILY- 5846 

50 DMA DAILY- 5938

200 DMA DAILY- 5588200DMA@5563

Nifty is in up trend in very short term view. I gave you recommendation today before market open today that 

GO LONG IN NIFTY AT 5830-20 SPOT PRICE KEEP STOPLOSS AT 5790 TARGET EXPECTED 5890-5920.

 As per Today's session nifty has given a very volatile and heart breaking session. There is a big resistance around 5970 level if nifty cross and sustained this time minmum 200 points rally we may see in nifty. Trend is  buy on dip mode in short term point of view. 

In short short term and mid term bias will remain positive. As per impulse in price pattern and open interest data suggesting that nifty is ready to make new high in march series. Me and my subscribers have minted money in todays session and given you a free recommendation on nifty today. I hope that you all would have made money with this my recommendation. As per price pattern with impulse seems that we may see more surprising move very soon. 6184 and 6284 is on the way.

Short term stoploss for long trade at 5830 spot price
Target expected - 5970 if broken then 6080.

Click on chart below for its larger view.

A FANTASTIC FABULOUS PROGRAMME BY NIFTY EYES MULTILEVEL MONEY MAKING CLUB IS GOING TO LAUNCH FROM TOMORROW. INFORMATION WILL BE PUBLISHED AT 12 MID NIGHT.

NIFTY UPDATE

  Go long in Nifty at 5830-20 spot price keep stoploss at 5790 target expected 5890-5920.

ZERODHA IN NEWS

Zerodha aims to treble revenues

Buoyed by a steady rise in new trading accounts and untapped potential in North India, Bangalore-based online broking firm Zerodha is looking at a three-fold growth in revenues to Rs 60 crore in 2013-14 and is in talks with US-based brokerages to upgrade technology and simultaneously raise about $1 million, according to its founder and CEO Nithin Kamath.

He told Deccan Herald, “We are adding about 1,500 trading accounts every month and will end the current year with about 23,000 accounts, up from about 10,000 last year. Given this and our expansion plans over the coming months, we are confident of taking our revenues from an expected Rs 20 crore this fiscal to about Rs 50 to 60 crore next year.”

Besides, the firm is also looking for a strategic investor who would double up as a technology partner. “We are in talks with US-based brokerages. The amount to be raised would be in the range of about $1-1.50 million. We will be finalising the deal soon.”

He said that Zerodha will open a support centre in Ahmedabad this month and also in Surat, Kolkata and New Delhi in this calendar year. 

Currently, about 70 per cent of its traders are based in South India. Zerodha operates on a profit margin of about 60 to 70 per cent and has a 70-member team including support centres in Hyderabad, Kochi and Hubli, apart from two offices in Bangalore.

The potential for online trading in India is huge; there are only about 40 lakh active traders, which has the potential to go up, according to Kamath. The number of demat accounts stood at about 2.10 crore as on February 28, 2013, at the two depositories, National Securities Depository Limited (1.26 crore demat accounts) and Central Depository Services (India) Limited (82.87 lakh demat accounts).

Zerodha’s daily business is about Rs 2,500 crore in equities, out of which about 95 per cent is in F&O segment and rest in cash. Besides, the daily turnover in commodities is about Rs 500 crore. 

A zero-debt firm, Zerodha’s capital base is Rs 15 crore, all from promoters.

source:- http://www.deccanherald.com

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MARKET UPDATE

Nifty consolidation is continue. 5993 which was Friday low acted as support in yesterday's session also.

Fresh short position created only below 5880. fresh long position created only above 5970. sideways and volatile move expected till than. An another blasting rally is awaiting in our Indian market. Wait and watch action is advisable until nifty break both side action. As per wave perspective currently we are in second wave and second have the capacity to retrace up to 78.6% of previous wave. Therefore wait in nifty movement that from where nifty reverse. As per my psychology of price pattern and chart reading up move is due in our Indian market and this should be happen from today or tomorrow.

FOR HONEYMOON LOVERS

FOR HONEYMOON LOVERS

 BUY RELIANCE CAPITAL  ABOVE 386.50  FOR TWO MONTHS AND KEEP STOP LOSS BELOW 376 AND ENJOY YOUR HONEYMOON. I WON'T MIND. OH REALLY...... I NEVER MIND.

BANK NIFTY

SUPER DUPER BLASTING RALLY IS STILL DUE IN BANK NIFTY. BUY BANK NIFTY AT CURRENT MARKET PRICE AND GO FOR HONEYMOON AND FORGET TILL 3 APRIL. IT WILL FLY IN OPEN SKY AFTER 12550 LEVEL. KEEP STOPLOSS AT 12000 LEVEL ON CLOSING BASIS.

NIFTY X-RAY REPORT FOR 11 MARCH

Bear Fry-day. Simply i am loving it.

The market gave surprise hike in nifty price in Friday session also. Lots of people were expecting that minor correction will happen and that will be entry levels but market didn't gave any chance to losers. Winners enjoyed rally to much and Nifty closed at 5945.70 with CNX metal was the best performer in Friday's trade while CNX IT sector was the only looser in the session . The Sensex closed at 19683.23, up 269.69 points from its previous close, and the Nifty closed at 5945.70, up 82.40 points. The CNX Midcap index was up 1.04% while the CNX Smallcap index gained 0.98% in last session trade. The market breadth was positive with advances at 692 against declines of 381 on the NSE. The Bank index was up by 1.90% in last session and closed at 12197.25. Jindalstel jumped 5.70% highest on nifty 50 group while Maruti was the biggest looser with -1.29% in last session.

Nifty closed with highly positive sentiment up 1.41% in Last session. As per nifty Relative Strength Indicator (RSI), it has placed now in highly positive zone. The recent price pattern on nifty daily chart has given trend reversal with improving RSI towards upside in near term and it seems that nifty has made strong base near 5700 and, stock may give more rise from here in near future. Nifty was in short term down trend till Thursday but now it is in short term up trend. Until unless nifty goes below 5850 this uptrend view will remain continue. A good another Bullish engulfing Candlestick pattern has formed on NIFTY EOD chart in last session Prior to pattern formation this Index was in short term downtrend. As per slow stochastic , NIFTY has come in strong positive zone and now it is placed with little overbought but it is not getting support with Rsi, currently MACD has given buy signal on daily chart but weekly chart is giving buy signal. Nifty was in consecutive downtrend since five weeks but reversal given in last week.

Nifty 5700 put has highest open interest at 97 lakh on the put side indicating strong base for the march series ahead.  Nifty 5900 put added 2,666,950 fresh contracts in last session and 6000 put added 1,351,500 fresh contracts in Friday session. As nifty was up buy 82 points and addition in nifty 5900 and 6000 put indicating put has been written continuously and this is indicating further up trend. On the call side 6000 level has highest open interest but it has decreased 6 lakh contracts from open interest indicating further resistance around this zone. As nifty was up by 44 points and open interest added in 5900 and 6000 put indicating strength towards upside after continuing down trend. Put call ratio has improved from 1.05 to 1.15  level indicating that price may go more higher in further direction.

FIIs bought index future worth Rs. 568.96 cores and open interest decreased by 2.7%, as nifty future was up by 82 points and open interest decreased indicating that FIIs have covered their shorts which they been carried from last months.

LAST   HIGH - 5952  LAST LOW - 5883
WEEKLY HIGH - 5952 WEEKLY LOW - 5663
5 DMA DAILY - 5822
20 DMA DAILY- 5848 

50 DMA DAILY- 5943

200 DMA DAILY- 5574200DMA@5563

Nifty is in strong up trend in very short term view. I have given you indication that 5700 put open interest reached at 99 lakh just after five days of new series indicating that 5700 level is not going to break in March series, so expecting that 5700 level will break in March it will be little unmatured analysis.  As per Today's session nifty has given bullish jump in todays session also and closed around 5945. There is a minor resistance around 5970 level nifty has made double top on that level so this level will create a minor hurdle for nifty, after that sky is unlimited for nifty. The upper falling trend line is broken in fridays session now suppose if nifty break 5970 level then we may see a possible new high in March series. I told you in my previous post "it has taken resistance at higher channel indicating hurddle at this level. If break this channel nifty will give further more spike from this zone. Nifty has formed a double top formation around 5970 in this down wave may create strong obstacle at higher level" Trend is  buy on dip mode in short term point of view. Untill unless nifty break 5850. After crossing 5970 bull will get energy like ENERGY 500 capsule. 

In short as long as nifty is above todays low (5850) short term and mid term bias will remain positive. As per impulse in price pattern and open interest increasing in 5900 and 6000 put indicating that nifty will be above 6000 level very soon. I told you also  "it seems that nifty will give surprise to everyone in this month and there will be no wonder if nifty made a new high in this series".

Nifty had broken long term lower trend line around 5950 now this trend line will create a obstacle in rise which is now around 6080 level. If we find any dip of 30-40 points that will be buy opportunity. Now suppose if we cross this level also definitely we will see new high in nifty in near term.6184 and 6284 is on the way.

Short term stoploss for long trade at 5880 spot price
Target expected - 5970 if broken then 6080.

NIFTY MULTIPLE CHART ANALYSIS FOR COMING WEEK