MARKETS FOR  10TH AUG   AS EXPECTED, NIFTY OPENED FLAT AT THE BACK OF  DECEPTIVE SGX NIFTY AND AFTER A FEW MINUTES OF FLATNESS IT STARTED TO RISE & CONTINUED TO RISE IN SPITE OF NEGATIVE DOW FUTURES AND MIXED TO NEGATIVE ASIAN MARKETS. NIFTY CROSSED THE 5TH AUGUST HIGH OF 5487 TO REACH A NEW 30 MONTH HIGH OF 5492 AND LAST MINUTE PROFIT BOOKING BROUGHT DOWN NIFTY TO CLOSE AT 5486 THREATENING ANOTHER BULL TRAP FOR THE OVERNIGHT UN-HEDGED FUTURE POSITION HOLDERS. GONE ARE THE DAYS WHEN A BREACH OF EARLIER HIGHS  OR CLOSING AROUND THE HIGHEST POINT OF THE DAY WERE CONSIDERED TO BE  STRONG BULLISH SIGNALS. THE EXTERNAL OPERATORS HAVE RUINED INDIAN MARKETS TO SUCH AN EXTENT THAT EVERY TIME  JUST THE REVERSE HAPPENS. SO ON TUESDAY, IN CASE OTHER INDICATIONS ARE FAVORABLE THEN  AT THE BEST ONE MAY AT THE BEST EXPECT JUST A GRAZE OF THE MAGIC 5500 LEVELS TO BE FOLLOWED BY RUTHLESS SHORTING BY THE OPERATORS.

NOW, EVERY EXTRA MOVE ABOVE THE PREVIOUS HIGHS BY 5 TO 10 POINTS IS GOING TO BE HIGHLY LABORIOUS & ON THE SLIGHTEST INDICATION OF WEAKNESS SHARP FALLS MAY BE OBSERVED. SIMILARLY A WEAK OPEN  BELOW OR NEAR THE LOW OF THE PREVIOUS DAY WILL SEE BIG RISE IN NIFTY TOWARDS NEW HIGHS AS WAS OBSERVED ON MONDAY. THIS TYPE OF PROTRACTED UP MOVE MAY CONTINUE TILL THE CRITICAL LEVEL OF 5545 IS BREACHED ON A CLOSING BASIS  AFTER WHICH  TIME WILL NO MORE BE AN OBSTRUCTION & NIFTY WILL  BREACH THE LIFE TIME HIGHS OF 6357 IN THE QUICKEST POSSIBLE TIME. TRADERS & INVESTORS MUST REALIZE THAT THE PROTRACTED UP MOVE TO MAKE NEW YEARLY HIGHS ONE AFTER THE OTHER IS WITHOUT ANY SUPPORT FROM THE UNNECESSARILY  MUCH HYPED WHITE ELEPHANT THE RELIANCE INDUSTRIES. RIL IS LIKELY TO REMAIN PARALYZED FOR ANOTHER QUARTER BEFORE IT CAN WIPE OUT ALL THE ELECTION EXPENDITURE THAT IT HAD INCURRED DURING THE GENERAL ELECTION OF MAY 2009.

IF ONE HAS  A LOOK AT THE HOURLY CHART ABOVE, ONE WILL NOTICE THAT NIFTY SPOT IS CONFINED WITHIN A LARGER UPWARD LOOKING RECTANGLE WITH RESISTANCE LINE JOINING THE TOPS OF 14TH JULY HIGH OF 5454,23RD JULY HIGH OF 5477  AND MOVES GRADUALLY UPWARDS TOWARDS 5520 TO 5540 LEVELS THAT WILL BE CONSISTENTLY POSING AS RESISTANCE TO ANY UPWARD MOVE OF NIFTY. THE LOWER SIDE OF THE RECTANGLE IS THE SUPPORT LINE JOINING THE LOWS OF 8TH JULY LOW OF 5297 & 30 JULY LOW OF 5351 & THIS SUPPORT LINE GRADUALLY MOVING UP WILL PROVIDE SUPPORT TO NIFTY SPOT AROUND 5400 LEVELS. ABOVE THIS LEVEL OF 5400, THE CRITICAL LOW OF 5431 IS A FORMIDABLE SUPPORT FOR NIFTY THAT WILL ALWAYS SOS THE BULLS TO COME FOR RESCUE AS & WHEN THREATENED.

FOR TRADING ON TUESDAY, THE FACT THAT NIFTY HAD CLOSED AROUND THE HIGHEST POINT OF THE DAY, THERE IS THE POSSIBILITY OF A BULL TRAP THAT MAY SEE NIFTY BEING PULLED DOWN BY OPERATORS TO TRAP ALL THOSE WHO HAD DEFIANTLY CARRIED OVER UN-HEDGED LONG FUTURE POSITIONS. SPOT NIFTY FACES STRONG INTRADAY RESISTANCE AROUND 5495 TO 5500 THAT MAY INVITE BEARS FOR A SHORTING BONANZA. ON THE LOWER SIDE , UNLESS THERE IS A MAJOR MISHAP OR A CATASTROPHIC FALL IN WORLD MARKETS, THE CHANCES OF ANY TYPE OF BIGGER FALL ALSO IS HIGHLY UNLIKELY. SPOT NIFTY MAY FIND STRONG INTRADAY SUPPORT AROUND 5465 FOLLOWED BY 5458 TO 5450 THAT MAY SEE ANOTHER BOUT OF UPWARD SURGE TO RETEST MONDAYS HIGHS OF 5490+ LEVELS.

MORNING UPDATE AT 7 AM  10TH AUG 

STOCK FUTURES & OPTIONS TRADING FOR SUBSCRIBERS ONLY AS PRE MARKET MESSAGE OR DURING TRADING HOURS 

INTRADAY TRADING LEVELS FOR NIFTY  09 AUG (NIFTY FUTURES FOR SUBSCRIBERS ONLY AS PRE MARKET MESSAGE OR DURING TRADING HOURS)

(FOR SUBSCRIBERS BY SMS OR YM) FOR INTRADAY TRADING, NSE INDEX HAS INITIAL RESISTANCE AROUND TO LEVELS. BREACH OF  CAN TAKE NIFTY TOWARDS BREACH OF WHICH CAN TAKE NIFTY UP TO NEXT IMPORTANT INTRADAY RESISTANCE AT . BREACH OF CAN TAKE NIFTY UP TO CRITICAL RESISTANCE AT   WHERE IT SHOULD FIND SOME PROFIT BOOKING BY THE LONG POSITION HOLDERS. ABOVE NIFTY CAN MOVE UP TO TO THAT WILL GENERATE MERCILESS BULL LIQUIDATION & RUTHLESS BEAR HAMMERING. ON THE LOWER SIDE NIFTY FINDS INITIAL INTRADAY SUPPORT  AROUND TO. BREACH OF CAN TAKE NIFTY TO CRITICAL SUPPORT AT TO LEVELS BELOW WHICH NIFTY BECOMES WEAK TO RETEST OR LOWER LEVELS . INABILITY TO SUSTAIN ABOVE WILL SCARE THE BULLS THAT MAY START THE BULL SELL OFF & RUTHLESS SHORTING BY BEARS THAT CAN SLIDE NIFTY NEARER TO LEVELS.

CLOSING LEVELS FOR SPOT NIFTY  09 AUG ()       CLOSING SUPT         CLOSING RES 

STOCK FUTURES FOR  AUGUST 2010                ( 10 TRADING JEWELS FOR JULY 2010) FOR SUBSCRIBERS
 

WEEKLY  GENERAL MARKETS ANALYSIS  FOR WEEK ENDING  2ND JULY. WELL, IT IS SAID WHEN EVERYONE STARTS TO TURN BULLISH THE MARKET DISAPPOINTS AND MOVES THE OTHER WAY. THIS IS WHAT EXACTLY HAPPENED THIS WEEK & THE EUPHORIA GENERATED BY THE NEAR 3% RISE FOR THE PREVIOUS WEEK FOLLOWED BY THE BIG GAP UP OPEN  ON MONDAY THAT REACHED THE HIGHS OF 5366 COULD NEVER BE REACHED AGAIN DURING THE REMAINING DAYS OF WEEK AND MARKETS DRIFTED LOWER EVERY DAY TO CLOSE FLAT AT 5269 JUST A SHADE BETTER THAN LAST WEEKS CLOSING LEVEL OF 5262.IN ADDITION TO CLOSING NEAR THE LOWEST LEVEL OF THE WEEK, WHAT IS MORE ALARMING IS THE FORMATION OF A GRAVESTONE DOJI PATTERN THIS WEEK. SO UNLESS NIFTY MOVES UP TO CLOSE ABOVE THE HIGH OF THE GRAVESTONE DOJI AT 5366, THE WEEKLY  CANDLESTICK PATTERN MOST LIKELY WILL HAVE BEARISH IMPLICATIONS.

DURING THE WEEK THERE WAS NO NEGATIVE NEWS INTERNALLY TO BRING DOWN THE MARKETS. HOWEVER THERE WERE MANY MARKET FRIENDLY NEWS LIKE INDICATIONS OF PATCH UP BETWEEN THE RELIANCE BROTHERS, GOOD INFLOW OF FII MONEY, GOOD NEWS ON CHINESE YUAN, GOOD GDP  & IIP NUMBERS  ANNOUNCED BEFORE THE START OF THE WEEK, ONSET OF MONSOONS  AS PER EXPECTATIONS & THE MOST IMPORTANT OF ALL BEING THE LONG AWAITED  DECONTROL OF PETROL & DIESEL PRICES ETC HAD NO +VE IMPACT ON MARKETS WHAT SO EVER & INSTEAD THE MARKETS LOOKED UPWARDS EVERY MORNING TO GET THE CUES FROM DOW TO DECIDE ITS ACTION FOR THE DAY. ALTHOUGH THE INDIAN MARKETS LOOK EXTREMELY BULLISH TECHNICALLY TO MOVE UP FURTHER, YET THE ATTITUDE OF SHARING THE DOWS OVERNIGHT  LEFTOVERS AMONGST ASIAN MARKETS DAILY IN THE MORNING WILL CONTINUE FOR MANY MORE DAYS TILL EVERYONE STARTS TO THINK THAT MARKETS PERHAPS HAVE GONE BEARISH AGAIN.

INTERESTINGLY BOTH US & EUROPEAN MARKETS HAD CONSECUTIVE 5 DAYS OF LOWER LOWS DURING THE WEEK. DOW HAVING TOYED WITH THE 200 DMA FOR A DAY OR TWO FAILED MISERABLY TO SUSTAIN ABOVE IT AND FELL CONTINUOUSLY FROM MONDAY ONWARDS. HOWEVER THE SAVING GRACE FOR DOW BEING IT HAS CLOSED AT 10144, EXACTLY AT THE 50 WEEK MOVING AVERAGE & SECONDLY  HAVING MADE NEARLY 5 DAYS OF LOWER LOWS, THERE IS EVERY POSSIBILITY OF A GOOD BOUNCE DURING THE COMING WEEK AS ITS DAILY INDICATORS HAVE GOT INTO OVERSOLD LEVELS. FROM THE MONDAYS HIGH OF 10627, DOW FELL TO A LOW OF 10040 ON FRIDAY TO CLOSE AT 10144.FROM  2010 LOW OF 9726 TILL LAST WEEKS HIGH OF 10627 DOW HAD RETRACED DOWNWARDS BY ABOUT 65%.HOWEVER TECH HEAVY NASDAQ HAVING CLOSED ABOVE THE JUNCTION OF 50 & 200 WEEK MOVING AVERAGES ALTHOUGH LOOKS BULLISH, MAY GET SOLID HAMMERING TO COME IN LINE WITH DOW WHICH IS MUCH LOWER THAN BOTH THE 200 WEEKLY AS WELL AS 200 DAILY MOVING AVERAGES. HOWEVER DAILY CLOSING OF ALL THE THREE OF DOW, NASDAQ & S&P500 CLEARLY AS A PERFECT DOJI ON FRIDAY DISPLAYS THE MYSTERIOUS NATURE OF THESE INDICES TO KEEP EVERYONE GUESSING ON THEIR NEXT MOVE.

FOR ASIAN MARKETS, BOTH HONG KONG & KOREA HAD A STRONG WEEKLY CLOSING BUT HAVING GONE UP FOR FIVE CONSECUTIVE WEEKS IN A ROW, THESE TWO MAY GIVE UP SOME GAINS DURING THE COMING WEEK TO WAIT FOR SINGAPORE, TAIWAN, JAPAN & INDIAN INDICES TO CATCH UP. INTERESTINGLY, MOST OF THE ASIAN MARKETS LIKE INDIA, HONG KONG, KOREA, SINGAPORE & TAIWAN AND ALSO BRAZIL ARE TRADING ABOVE THEIR 200 WEEK MOVING AVERAGES, WHERE AS JAPAN, US (EXCEPT FOR NASDAQ) AND MOST OF THE EUROPEAN MARKETS ARE MUCH BELOW THEIR 200 WEEK MOVING AVERAGES. SO ONE HAS TO JUST WAIT AND SEE IF MONEY WILL BE TAKEN OUT OF THESE BULLISH LOOKING EMERGING MARKETS TO PULL UP THE BEARISH LOOKING MARKETS OF US, EUROPE & JAPAN OR FURTHER MONEY WILL BE PULLED OUT OF THESE SLUGGISH LOOKING MARKETS TO FLOW INTO THE EMERGING MARKETS LIKE INDIA, BRAZIL, KOREA TO ADD TO THEIR BUOYANCY. WHATEVER MAY BE THE CASE, INDIAN MARKETS ARE IN FOR SOME MORE DAYS OF FLAT TO RANGE BOUND ACTION AS HAS BEEN OBSERVED SINCE DEWALI OF 20 OCTOBER 09 WITH UPWARDS SHIFTING LOWER SUPPORT LINE AROUND 4950 TO 5000 AND UPWARD LEANING RESISTANCE LINE AROUND 5450 TO 5550 LEVELS FOR MANY MORE WEEKS TO COME & MORE IMPORTANTLY OVERNIGHT DOW AS WELL AS ITS EXTREMELY LOW VOLUME FUTURES WILL CONTINUE TO DICTATE THE DAILY TRADING IN ASIAN MARKETS.

AS LAST WEEK WAS A FLAT WEEK WITH FOUR DAYS OF NEGATIVE DAYS AFTER THE GAP UP OPEN FROM MONDAYS HIGH OF 5367 & HAVING NOT REACTED POSITIVELY TO BULLISH NEWS OF RELIANCE OR DEREGULATION OF FUEL PRICES ETC, THERE IS EVERY POSSIBILITY OF NIFTY ACTING POSITIVELY DURING THE INITIAL DAYS OF THE WEEK TO AT LEAST RETEST THE LAST WEEKS HIGHS OF 5367 DURING THE WEEK AND A FAILURE TO CROSS LAST WEEKS HIGHS OF 5367 TO MOVE TOWARDS 7TH APRIL HIGH OF 5399 WILL GIVE ENOUGH AMMUNITION TO THE BEARS TO RUTHLESSLY SHORT NIFTY TO SEE THE REPEAT OF THE EARLIER CYCLES, TO AGAIN MOVE TOWARDS SUB 5000 LEVELS AT LEAST ONCE IN JULY. HOWEVER A SUCCESSFUL NEGOTIATION AND A CLOSE ABOVE THE MAGIC LEVEL OF 5335 CAN EASILY TAKE NIFTY TOWARDS LAST WEEKS HIGHS OF 5367 FOLLOWED BY  YEARLY HIGH OF 5399 TO LOOK FOR MUCH HIGHER LEVELS TOWARDS THE CRITICAL LEVEL OF 5545 DURING EARLY JULY.

SO, THE KEY LEVELS TO WATCH DURING THE WEEK FOR A NOSEDIVE  ARE  FALLING AND CLOSING BELOW 18TH JUNE RED CANDLE LOW OF 5245 FOLLOWED BY DECISIVE BREACH & CLOSE BELOW THE OUTSIDE BAR SETUP LOW OF 5206. SIMILARLY  FOR A HOPE TO MOVE HIGHER TOWARDS LAST WEEKS HIGHS OF 5367 FOLLOWED BY 5399, BULLS MUST AIM FOR INITIALLY CROSSING 5335 FOLLOWED BY  A DECISIVE CROSS OVER & SUSTAINING ABOVE 5353. A CLOSE ABOVE THE HIGHEST YEARLY CLOSING LEVEL OF 5375 CAN CERTAINLY PLACE THE BULLS ON THE DRIVERS SEAT TO EYE FOR MUCH HIGHER LEVELS DURING EARLY WEEKS OF JULY.          

WEEKLY TECHNICAL INDICATIONS  FOR WEEK ENDING 2ND JULY     AFTER A BIG RISE OF NEARLY 3% FOR THE WEEK ENDING 18TH JUNE, THIS WEEK NIFTY CLOSED FLAT. AS THE COMING WEEK WILL CONTAIN THE MONTH ENDING FOR JUNE & SINCE MAY MONTH HAD A HIGH OF 5278, THERE IS EVERY POSSIBILITY OF JUNE MONTH CLOSING TO BE LOWER THAN THE HIGH OF MAY MONTH. SO, THE FLAT TO MILDER WEAK DAYS ONE NOTICED DURING LAST WEEK WAS A PRECURSOR TO BRING DOWN NIFTY TO CLOSE BELOW THE MAY MONTH HIGH OF 5278 TO THWART  AN OUTRIGHT MEGA BULLISH INDICATION FOR NEXT MONTH OF JULY. EVEN ONE SHOULD NOT BE SURPRISED TO SEE NIFTY BEING PULLED DOWN BY OPERATORS DURING THE INITIAL DAYS OF THE WEEK TO CLOSE BELOW 5250 ON OR EVEN BEFORE  WEDNESDAY 30TH JUNE.

DUE TO THE RISE OF NIFTY FROM 1ST JUNE LOW OF 4961 TILL 21ST JUNE HIGH OF 5367, MOST OF THE MONTHLY INDICATORS HAVE STARTED TO GENERATE BULLISH SIGNALS. SO IN ORDER TO FADE  AN OUTRIGHT BULLISH MONTHLY INDICATION ON END OF JUNE MONTH CLOSING, OPERATORS WILL MAKE THEIR UTMOST EFFORTS TO PULL DOWN NIFTY TO FLUSH OUT WEAKER HANDS DURING THE LAST 3 DAYS OF JUNE IN ORDER TO FACILITATE SUITABLE LONG ENTRY FOR THE OPERATORS THEMSELVES FOR THE BULLISH MONTH OF JULY. AS PER THE CLOSINGS OF 25TH JUNE, MOST OF THE MONTHLY INDICATORS CONTINUE TO DISPLAY BULLISH SIGNALS AND UNLESS THERE IS A BIG PULL DOWN OF NIFTY BY THE OPERATORS DURING  28,29 & 30TH JUNE, THE MONTHLY INDICATORS WILL CONTINUE TO DEPICT BULLISH SIGNALS FOR THE MONTH OF JULY AS WELL.

WEEKLY INDICATORS ALTHOUGH NIFTY CLOSED FLAT DURING THE WEEK, EXCEPT FOR THE OPERATORS ORCHESTRATED  PULL DOWN OF NIFTY TO CLOSE AS A WEEKLY BEARISH GRAVESTONE DOJI ON FRIDAY IN SPITE OF GOOD NEWS ON FUEL PRICE DECONTROL, THERE ARE NO OTHER TECHNICAL INDICATIONS TO SUGGEST WEAKNESS IN THE WEEKLY CHARTS. THE BULLISH INDICATIONS GENERATED BY THE RISE OF NIFTY DURING MID WEEKS OF JUNE CONTINUE TO DISPLAY BULLISHNESS FOR THE COMING WEEKS. WEEKLY RSI AT 57 MAY MOVE UP FURTHER, WEEKLY SLOW STOCHASTIC & W%R BOTH  LOOKING UP TO ENTER THE UPPER ZONE IS A BULLISH SIGNAL. WEEKLY MACD IS BEHAVING LIKE DOW JOHNS INDEX & IS GIVING NO CLUE WHATSOEVER AS TO WHICH SIDE TO ENTER. HOWEVER WEEKLY ICHIMOKU IS GIVING THE STRONGEST BULLISH SIGNAL WITH PRICE HAVING CROSSED BOTH TENKAN SEN & KIJUN SEN ABOVE THE CLOUD ZONE & CONTINUES TO SUSTAIN ABOVE THESE TWO INDICATORS & MORE IMPORTANTLY ALL THREE BEING ABOVE THE CLOUD ZONE. SIMILARLY WEEKLY ADX IS GIVING ROBUST BULLISH SIGNALS FOR FURTHER UP MOVE.

THE WEEKLY SET OF EMAS OF 5,8,13,21,34 & 55 & 200 RESPECTIVELY AROUND THE LEVELS OF 5194,5174,5158,5124,5028,4854 & 4288 REMAIN ONE ABOVE THE OTHER WITH PRICE SAFELY SAILING ABOVE ALL THESE EMAS IS ANOTHER BULLISH SIGNAL FOR THE MEDIUM TO LONG TERM. SO UNLESS THERE IS A DRASTIC ACTION BY THE OPERATORS TO PULL DOWN NIFTY TO MUCH LOWER LEVELS DURING THE INITIAL DAYS OF THE WEEK TO FINALLY CLOSE THE WEEK AT A MUCH LOWER LEVEL, THE WEEKLY INDICATORS WILL CONTINUE TO GENERATE BULLISH SIGNALS.

DAILY INDICATORS    THE DAILY INDICATORS WHICH HAD GENERATED ROBUST BULLISH SIGNALS TILL MONDAY 21 JUNE, HAVE STARTED TO DISPLAY WEAKNESS DUE TO FAILURE OF FOLLOW UP MOMENTUM AFTER THE MONDAYS RISE. CONTINUOUS FALL FOR 3 DAYS IN A ROW HAS MADE MOST OF THE INDICATORS TO LEAN TOWARDS WEAKER SIDE & ANOTHER DAY OF FALL ON MONDAY MAY CONFIRM THE WEAKNESS IN  DAILY INDICATORS LIKE SLOW STOCHASTIC, RSI, W%R, MACD,CCI & ADX. SIMILARLY IN DAILY ICHIMOKU, THE FALL OF PRICE TO CLOSE AT 5268 EXACTLY AT THE LEVEL OF TENKAN SEN IS AN ENCOURAGING SIGN FOR THE BEARS TO PULL DOWN NIFTY FURTHER TO CLOSE BELOW TENKAN SEN FOR THE INITIATION OF A SHORT TERM WEAKNESS.

FOR THE FIRST TIME AFTER 9TH OF JUNE, NIFTY BREACHED AND CLOSED BELOW BOTH 5 & 8 DAYS EMA. ALTHOUGH NIFTY SAFELY REMAINS ABOVE THE BALANCE OF THE EMAS OF 13 AT 5238,21 AT 5196,34 AT 5167 & 55 AT 5150, BEARS WILL DEFINITELY TRY TO PULL DOWN NIFTY TO CLOSE BELOW BALANCE OF THE EMAS DURING THE WEEK TO START FRESH ON A BUOYANT NOTE NEXT WEEK.

SO, OVERALL, KEEPING IN MIND THE BULLISH AND BEARISH INDICATIONS OF THE WEEKLY & DAILY INDICATORS, NIFTY MOST LIKE WILL BE RANGE BOUND WITHIN THE 150 POINT RANGE OF 5200 ON THE LOWER SIDE AND 5350 ON THE HIGHER SIDE WITH A NEGATIVE BIAS DURING INITIAL DAYS OF THE WEEK. HOWEVER A FALL TO DECISIVELY BREACH THE LEVELS AROUND 5212 THE SUPPORT LINE COMING FROM   25TH MAY  LOWS OF 4787 & 8TH JUNE LOWS OF 4967 WILL CERTAINLY CONFIRM THE REPEAT OF EARLIER CYCLIC DOWN MOVE TOWARDS 5000 OR LOWER LEVELS DURING JULY.

WEEKLY ELLIOTT WAVE COUNT   FOR THE PURPOSE OF  ELLIOTT WAVE COUNT, WE WAVE CONFINED OUR STUDIES TO THE UP MOVE FROM THE 25TH MAY LOW OF 4787 TILL LAST WEEKS HIGHS OF 5367.THE MOVE FROM 4787 TILL 4TH JUNE  HIGH OF 5148 WAS THE 1ST UP LEG OF THE FRESH UP MOVE. THIS CONSISTED OF 5 LEGS. LOWER TIME FRAME CHARTS OF 5 OR EVEN 15 MINUTES CAN EASILY HELP IN COUNTING THE SUB LEGS. FROM THE LOW OF 4787, 1ST UP TILL 4887, 2ND DOWN TILL 4860, 3RD UP TILL 5097, 4TH DOWN TILL 4961 AND 5TH UP TILL 5148.

AFTER THE COMPLETION OF THESE 5 SUB LEGS OF THE 1ST UP WAVE, THE 2ND DOWN WAVE  CAME DOWN TILL 8TH JUNE LOW OF 4967.FROM THE 8TH JUNE LOW OF 4967 THE 3RD UP WAVE HAD STARTED AND AS ON MONDAY 21 JUNE IT HAS COMPLETED THE 3RD UP WAVE. AFTER THE MONDAYS HIGH OF 5367, TILL FRIDAY LOW OF 5260 NIFTY WAS IN THE PROCESS OF 4TH WAVE A FLAT FORMATION  OR THE ABC ZIGZAG CORRECTION WITH HIGH OF B AT 24TH JUNE HIGH OF 5348 AND C DOWN LEG IS STILL ON TOWARDS LOWER LEVELS. HOWEVER WHETHER THE DOWNWARD SLOPPING FLAT OR THE C DOWN LEG OF THE ZIGZAG IS OVER OR IT HAS SOME MORE DOWN SIDE LEFT  TO MOVE TOWARDS 5200 LEVELS TIME ONLY WILL SAY.

HOWEVER IF NIFTY FAILS TO RISE ABOVE 5325 FOLLOWED BY 5353 LEVELS & SLIDES DOWN TO REMAIN BELOW THE FRIDAYS LOWS OF 5260 THEN THERE ARE BRIGHT CHANCES THAT NIFTY IS IN ITS C LEG OF THE DOWNWARD ZIGZAG TO FIRST HIT 18TH JUNE LOWS OF 5245 FOLLOWED BY TEST OF MAKE OR BREAK SUPPORT AROUND 5206 LEVEL.

 WEEKLY FIBONACCI LEVELS FOR THE PURPOSE OF FIBONACCI LEVELS, WE HAVE CONFINED OUR STUDIES TO THE LEVEL BETWEEN 2ND WAVE LOW OF 4967 AND 3RD WAVE HIGH OF 5367 A TOTAL OF 400 POINT RISE IN ORDER TO ASCERTAIN HOW FAR DOWN THE 4TH CORRECTIVE WAVE CAN COME. A 38.2% FALL MAY BRING DOWN NIFTY TO 5214, A 50% RETRACEMENT MAY BRING DOWN NIFTY TOWARDS 5167 AND A 61.8% RETRACEMENT MAY BRING DOWN NIFTY TOWARDS 5119. WELL IF OPERATORS HAVE THEIR SAY AND WORLD MARKETS ALSO TURN WEAK WITH ANOTHER PLANTED NEWS ON PIGS COUNTRIES THEN NIFTY MAY RETRACE 76.4% TILL 5061 DURING JULY.

WEEKLY TRADING RANGE FOR WEEK ENDING 2ND JULY   THE BROAD TRADING RANGE FOR THE WEEK MAY BE CONFINED WITHIN A TIGHT 150 POINT RANGE BETWEEN  5353 ON THE HIGHER SIDE AND 5203 ON THE LOWER SIDE. A DECISIVE BREACH OF THE 5353 MAY TAKE NIFTY TOWARDS YEARLY HIGHS OF 5399 WITH A SMALL  BREAK AROUND 5367 TO GENERATE THE PHOBIA OF A DOUBLE HEAD TO FLUSH OUT WEAKER HANDS. SIMILARLY ON THE LOWER SIDE A DECISIVE BREACH OF 5203 CAN CERTAINLY WEAKEN NIFTY FOR A BIGGER FALL TOWARDS 5171 FOLLOWED BY 5141 TO THREATEN THE CRITICAL PSYCHOLOGICAL LEVEL OF 5100 DURING EARLY JULY.

PLAN OF ACTION FOR THE WEEK ENDING  2ND JULY   WITH MONTH END CONSIDERATIONS PLAYING DURING THE WEEK & WITH OPERATORS BENT UPON BRINGING DOWN NIFTY TO MUCH LOWER LEVELS FROM THE MAY MONTH HIGH OF 5278,INTRADAY TRADERS WILL DO WELL IN RESORTING TO MERCILESS SHORTING IN CASE NIFTY IS UNABLE TO SUSTAIN ABOVE 5325 WITH STRICT QUIT POINT ABOVE THE CRITICAL RESISTANCE OF 5353.EVERY INTRADAY RISE TOWARDS 5325 SPOT LEVEL MAY BE RUTHLESSLY SHORTED FOR GOOD INTRADAY GAINS WITH THE STOP LOSS ABOVE 5353 SPOT LEVELS. SIMILARLY IN CASE NIFTY FALLS BELOW 5245, FRESH SORTS MAY BE INITIATED AND MORE SHORTS BE ADDED IN A RHYTHMIC PATTERN IN CASE NIFTY FAILS TO HOLD THE CRITICAL LEVEL OF 5203.

SIMILARLY TRIGGER HAPPY INTRADAY BULLS MAY GO LONG BY KEEPING 5245 AS THE QUIT POINT AND MORE LONGS MAY BE ADDED IN CASE NIFTY CROSSES 5325 AND 5353.INTRADAY TRADERS MUST KEEP IN MIND THAT THE STOP LOSSES PLACED JUST BELOW THE SUPPORT OR ABOVE THE RESISTANCE LEVELS ARE LIKE FREE DONATIONS TO THE OPERATORS WHO GENERALLY PLOT TO BREACH THE SUPPORT AND RESISTANCE LEVELS.

COMPULSIVE SHORTERS MAY LOOK FOR OPPORTUNITIES TO FIND AN INTRADAY RISE TOWARDS THE PREVIOUS DAYS HIGHS IN THE OPERATOR INFECTED METAL STOCKS & FUTURES OF TATASTEEL, SESAGOA  & WELSPUN CORP TO BOLDLY SHORT FOR GOOD INTRADAY GAINS AS THESE OPERATOR AS WELL AS INSIDER INFECTED STOCKS GENERALLY FAVOR SHORTERS ON INTRADAY RISE WHERE AS INTRADAY BUYERS GENERALLY GET TRAPPED IN THESE. MUST QUIT POINTS FOR THE PLEASURABLE SHORTS SHOULD BE JUDICIOUSLY SELECTED ABOVE THE PREVIOUS DAYS HIGHS. HOWEVER LONG TO MEDIUM TERM INVESTORS MUST ACCUMULATE THESE STOCKS ON EVERY DECLINE FOR GOOD GAINS AS THESE ARE HIGHLY OVERSOLD IN THE MEDIUM TO LONG TERM WEEKLY CHARTS.

TRADERS & INVESTORS MUST KEEP IN MIND THAT IT WILL BE THE DOW & ONLY DOW THAT WILL DICTATE THE CONDITION OF ASIAN MARKETS AT LEAST DURING THE INITIAL PART OF DAILY TRADING & EVER CHANGING DOW FUTURES FROM 8 AM TILL 3.30 PM IST WILL DICTATE THE ASIAN TRADING LEVELS DURING THE DAY.

ASTROLOGICAL INDICATIONS  FOR WEEK ENDING 2ND JULY  FOR ASTRO PACKAGE SUBSCRIBERS ONLY.

LIKELY  DAILY  ACTION OF DOW OPERATORS   TRADERS & INVESTORS MUST REMEMBER ONE THING IN THE PRESENT MARKET CONDITION, WHICH IS THE RIGHT ASSESSMENT OF THE ACTION OF DOW OPERATORS, THAT IS MORE IMPORTANT NOW A DAYS THAN THE FUNDAMENTAL OR TECHNICAL ANALYSIS. THE FOUR STAGES OF DOW OPERATORS ACTION ARE:-- FIRSTLY DECEIVE ASIA AT  THE OPENING, DURING THE TRADING HOURS & MORE IMPORTANTLY AROUND THE CLOSING TIME THROUGH LOW VOLUME MANIPULATION OF DOW FUTURES COUPLED WITH LOW VOLUME SGX. SECONDLY, ONE BOUT OF DECEPTION OF EUROPEAN MARKETS THROUGH PLANTED ECONOMIC NEWS BEFORE CLOSURE OF EUROPEAN MARKETS. MOSTLY THESE DAILY ANNOUNCEMENT OF ECONOMIC NEWS IN US IS PRIVATE IN NATURE & IS GENERALLY CONTROLLED BY MAFIA & MARKET OPERATORS THERE. THIRDLY ANOTHER WELL COORDINATED DOW ACTION AFTER CLOSURE OF EUROPEAN MARKETS  TO CLOSE DOW JUST OPPOSITE TO CLOSURE OF ASIAN MARKETS & LASTLY INFLUENCING & TRAPPING ASIAN MARKETS  THROUGH DOWS OVERNIGHT CLOSING FOLLOWED BY  MANIPULATION OF DOW FUTURES & SGX IN THE MORNING TO INFLUENCE ASIAN OPENING THROUGH DOW OPERATORS TRUSTED  AGENTS SPREAD ACROSS ASIAN COUNTRIES LIKE DEADLY VIRUS, SOME OF THESE IN THE NAME OF HEDGE FUNDS & FIIS .

THE MAIN REASON FOR THE HEAVY LOSS INCURRED BY TRADERS IS THAT, THE TRADERS CARRY HEAVY OVERNIGHT UN-HEDGED FUTURE & OPTION POSITIONS & GET BADLY  TRAPPED BY DOW OPERATORS ACTION, AS THESE OPERATORS 9 OUT OF 10 TIMES MANIPULATE DOW TO CLOSE JUST THE OPPOSITE TO MOST OF THE ASIAN DAILY CLOSINGS, TO TRAP POSITION HOLDERS NEXT DAY MORNING BY INDUCING  A GAP UP OR GAP DOWN OPENING THROUGH DOWS OVERNIGHT CLOSING OR BY MANIPULATED FIGURES IN THE DOW FUTURES & SGX BEFORE THE RESPECTIVE ASIAN MARKET OPENS IN THE MORNING. SO TRADERS MUST AVOID CARRY OVER OF UN-HEDGED FUTURE & OPTION POSITIONS IN ORDER TO AVOID GETTING TRAPPED BY THESE SWINDLERS. WELL, SOME TIMES ONE MAY MISS OUT ON BIG OVERNIGHT GAINS BUT IN MOST CASES ONE WILL GET RID OF BIG LOSSES. 

IF YOU ARE A TRADER, THEN WAIT FOR THE RIGHT OPPORTUNITY TO INITIATE TRADE, BOOK PROFIT OR EARLY LOSS & QUIT BEFORE THE MARKET CLOSES WITHOUT THE DESIRE FOR EXTRA PROFIT OR LOSS RECOVERY DURING NEXT DAY MORNING. CARRYING  OVERNIGHT TRADING F&O POSITIONS MEANS YOU ARE UNNECESSARILY LENDING YOURSELF TO  FALL INTO THE EAGERLY WAITING HANDS OF THE "HIDDEN FORCE" THE DOW MANIPULATORS & SWINDLERS. EVEN DURING INTRADAY TRADING HOURS, THESE SWINDLERS ARE MOSTLY RESPONSIBLE FOR TAKING THE STOCK OR FUTURE OR EVEN INDICES BELOW OR ABOVE IMPORTANT SUPPORT & RESISTANCE LEVELS BY WELL COORDINATED BUYING & SELLING INDEX HEAVIES AMONGST THEMSELVES TO TRIGGER STOP LOSSES OR GENERATE PANIC & WEED OUT WEAKER HANDS FOR THEIR OWN SUITABLE ENTRY

BIGGEST MISTAKES BY TRADERS  

TWO OF THE BIGGEST MISTAKES  MOST TRADERS GENERALLY COMMIT ARE:--  FIRSTLY,  THEY DO NOT FOLLOW THE TREND,  HAVING AN  EVER LASTING TENDENCY OF  ALWAYS TRADING AGAINST THE EXISTING TREND WHETHER INTRADAY OR DAILY OR WEEKLY. SECONDLY, NOT HOLDING ON TO THEIR GAINS THINKING THAT GAINS WILL GO AWAY THUS QUITTING EARLY FROM  LIKELY GREAT GAINS AND AT THE SAME TIME BOLDLY HOLDING ON TO THEIR LOSS MAKING TRADES FOR DAYS, WEEKS & MONTHS TOGETHER THINKING THAT LOSS WILL BE REDUCED OR  WILL TURN OUT TO BE A GAIN IN A FEW DAYS WHICH ACTUALLY NEVER COMES AND   THE LOSS GRADUALLY BECOMES SO BIG THAT ENTIRE CAPITAL IS WIPED OUT OR ONE IS FORCED TO QUIT AT A MUCH BIGGER LOSS & INTERESTINGLY PRICE TURNS JUST AFTER QUITTING. WITH THIS WRONG TRADING HABIT, 5 TIMES OF GAINS ARE WIPED OFF BY A SINGLE LOSS. SO, IF ONE WANTS TO  BE A SUCCESSFUL TRADER, THEN THESE TWO WRONG TRADING HABITS MUST BE RECTIFIED BY    FIRSTLY TRADING IN THE DIRECTION OF THE EXISTING TREND, SECONDLY  DEVELOPING  A HABIT OF QUITTING LOSSES EARLY  AND HOLDING  ON TO THE  GAINS BY MENTALLY SHIFTING  MUST QUIT POINTS IN THE DIRECTION OF GAIN. LAST BUT NOT THE LEAST, IF YOU ARE AN INTRADAY TRADER THEN PLEASE AVOID CARRY OVER OF UN-HEDGED F&O POSITIONS FOR THE REASONS MENTIONED IN THE  PARAGRAPHS ABOVE ON DOW OPERATORS DAILY ACTION.

WEEKLY TECHNICAL INDICATIONS  FOR WEEK ENDING 19 MARCH 

WEEKLY INDICATORS           

DAILY INDICATORS    

WEEKLY ELLIOTT WAVE ANALYSIS     

WEEKLY FIBONACCI LEVELS           

WEEKLY TRADING RANGE FOR WEEK ENDING  19 MARCH

PLAN OF ACTION FOR THE WEEK ENDING  19 MARCH  

ASTROLOGICAL INDICATIONS  FOR WEEK ENDING 19 MARCH   FOR ASTRO PACKAGE SUBSCRIBERS ONLY

WEEKLY TRADING  LESSON-1  USEFUL & PRACTICAL TRADING LESSONS THAT ONE CAN EMPLOY FOR DAY TO DAY TRADING BASED ON TECHNICAL ANALYSIS. THIS IS AVAILABLE TO SUBSCRIBERS ONLY.