DON'T LOSE MONEY AND HOPE IN THE MARKET

So many traders would have loosen  their money in the market today. Because definitely you would have heard this time also when most of fake analyst had been talking about 6700+++. These days hundreds of website providing nontechnical tips and recommendation to innocent people. I would like to request to all viewers that be careful with this type of website.  Don't loose money and hope in the market. Where you have lost there you will get only. If your one lac may be 10000 then your 10000 may also be 1 lac. Market have both  the capacity only you need to change your trading style. Yes ! Change your trading style and stop losing money. Actually why this happen because they think that they are smart than market. But in reality market is smarter then them self. Always try to read the market not your expectation. Market doesn't runs on one expectation.  If you know the better idea to trade then definitely you would have applied it. 

Learn the fantastic way of trading and forecasting the market. Be a trading hero. Join NIFTY EYES MULTILEVEL MONEY MAKING CLUB and stop loosing money. Join before your all capital washed out.

Two days back I had boldly written. Just see what I have written:-

I wrote in my previous post that Nifty has completed its 3rd standard of correction and break below 6140 will drag nifty towards 6059 and 5953. Today nifty closed at lower trend line as shown in picture below. Expect nifty kiss 6059 level tomorrow. Bias are negative now until nifty give closing above 6180 level. Nifty is in sell on rise mode. Next few days action will be very important. Be careful with your overnight position.

 Above line was written on 21 May.

On 16 May I wrote keep patience for 6250. Market went very near to our target. After that I gave you indication that market has completed 3rd standard of correction. Now result is just before you. What else you want now. If this information is not enough for you than i will pray OH GOD SAVE INNOCENT PEOPLE FROM LOSING MONEY.

Technical:- Currently nifty has given closing below 20 day moving average after 24 days. RSI is in favor of bears. Any two consecutive close below 20 day moving average may drag nifty towards 5900. Nifty weekly charts rising wage trend line support attracting with negative divergence on RSI  towards 5600 but it will be little early to talk about this level. Pattern is completely sell on rise until nifty give breakout above 6080 level. One should improve stop loss in this type of market so that big rally could acquire if downtrend converted into big rally.

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FROM 6180 TO 5960 BOLDLY WRITTEN. 

WHAT ELSE ANALYSIS YOU WANT ?

NIFTY UPDATE

I wrote in my previous post that Nifty has completed its 3rd standard of correction and break below 6140 will drag nifty towards 6059 and 5953. Today nifty closed at lower trend line as shown in picture below. Expect nifty kiss 6059 level tomorrow. Bias are negative now until nifty give closing above 6180 level. Nifty is in sell on rise mode. Next few days action will be very important. Be careful with your overnight position.

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NIFTY ELLIOTT WAVE CURRENT UPDATE

As I wrote in my previous post that nifty may correct. The correction in nifty today seems that nifty has completed its 3rd standard of correction and may move in b-B wave. If this wave count is valid then nifty should fall minimum up to 6059 and 5953 as indicated in the chart below. Below 6140 fresh short position can be created for the above mentioned target with 6229 as stop loss. Nifty is making higher high and higher low formation. Bias are still positive until unless nifty break and close below 6140 level. Bank nifty has nature to give indication of reversal in trend. As bank nifty has corrected much than nifty today supporting this view.

Traders should be alert at current situation towards long side.

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INDIAN STOCK MARKET WEEK AHEAD

 Week Ahead: Quarterly results will set the trend; Some profit booking is expected in the week ahead.
​Nifty gained consecutive five weeks, as the momentum indicators are showing overbought zone therefore the Indian stock market may spend time in some consolidation next week. Movements are likely to be a bit range bound in next week, although a few front line stocks are expected to see some buying amid consolidation in index. Quarterly results from top companies, including State Bank of India, Oil India, Tech Mahindra, Larsen & Toubro, BHEL, Tata Steel and JSW Steel will give impact on direction of Indian market next week.
Adani Enterprises, Apollo Hospitals Enterprises, Divi's Laboratories, IFCI, Thermax, Hindustan Copper, Welcorp, TV Today, Dish TV India, Jet Airways and Spice Jet are among the other companies that will announce their quarter results next week.
We have seen heavy buying by Foreign Institutional Investors in previous five weeks  which contributes significantly to the market's gains last week, The U.S. markets closed on a high  on Friday (17 May) on the back of some impressive economic data, may help the Asian market start with positive note on Monday.
IT bellwether Infosys will be in focus following the Income Tax department slapping a fresh tax demand of Rs 582 crore on the company for financial year 2009. The company, which is already contesting additional income tax demands to the tune of nearly Rs 1200 crore for four fiscal years beginning 2005, has stated that it will take legal recourse against the fresh tax demand as well.
As per Nifty Hourly chart it seems that it has completed triple zig zag complex correction with indicating loosing in momentum. Break below 6140 will indicate that sideways to down trend has been started. Highest open interest in 6200 call may create hurdle for nifty on higher side. According to chart pattern rising trend line will provide resistance on higher side above 6200.