Thursday, May 17, 2012

Nifty Moves Exactly As Predicted

In my post on 29 Apr 2012 I had given a call to sell Nifty at 5300 level and reiterated my stand again on 01 May 2012 post. For this sell of Nifty at 5300 level I had given a target of 4850. And Nifty achieved my target on 16 May 2012 with a day low of 4837. On 01 May 2012 post I had mentioned that Nifty will fall from 5300 in five steps and it did just that. Nifty fall trajectory from 5300 level was at follows :-
  1. As the first step Nifty fell from 5280 to 4988 on 07 May 20122.
  2. In 2nd step it rose to 5125 on 07 May itself.
  3. As 3rd step Nifty fell from 5125 to 4869 on 15 May 2012.
  4. In 4th step it rose to 4955 on 15 May.
  5. As the 5th step it fell from 4955 to 4837 on 16 May 2012
The fall to the level of 4850 having been completed, now Nifty is ready to climb up to 5130 level. I hope those who heeded my advice could make profit by selling Nifty at 5300 and covering it at 4850. I also hope traders could reverse trade at completion of wave C and buy Nifty at 4850. Now go long in Nifty till 5130 level with suitable trailing stop loss.

Tuesday, May 1, 2012

Sell Nifty May Futures at 5330

As indicated in my last post on 29 Apr 2012, Nifty is inching towards 5300. If you recall, I had advocated a Sell at 5300 level in my last post. So be ready to execute your trade at 5300 Nifty spot. And when you sell Nifty May contract you should look to sell at 5330 with a stop loss at 5380. When you sell Nifty May Futures at 5330 you can expect to gain 400 points from the expected fall in Nifty.

If we look at Dow Jones for indications, we find that there is a likelihood of Dow falling to 12200 level from its current level of 13200. That is an expected fall of about 1000 points from current levels. This fall will most probably happen in five steps, when Dow will execute a Flat correction. When Dow falls 1000 points from current level, then there will be some panic reaction even in Indian markets and we can expect Nifty to fall.

Nifty on its own is also on the verge of completing its correction from 5300 level, as discussed in my last post of 29 Apr 2012. Remember by falling from 5300 level Nifty will be completing wave C of its correction. So go ahead and sell Nifty May Futures at 5330 with stop loss at 5380 for a gain of 400 points, when markets reopen for trade. Most probably this expected fall in Nifty will also happen in five steps