Nifty..... : October 2018

Saturday, October 27, 2018

Nifty/BankNifty - 29-10-2018

Nifty wave counts-

1. 11760-11250
2. 11250-11347
3. 11347-10139
4. 10139-10710
5. 10710--9960??

5.1. 10710-10250 =460
5.2. 10250-10367=117
5.3. 10367-10005=362
5.4. 10005--10114/10181/10235/10289(should be less than 10250)
5.5. 102xx--9960??

Take long position on monday morning(with gap up) and look for short near 10220+/- with 10250 stop loss. If Nifty cross 10250(and stays above 10221) then probably 5th is done at 10005 and 'B' wave is started for 10500/800.

BankNifty wave counts -

1. 28387-27137
2. 27137-27206
3. 27206-24245
4. 24245-25903
5. 25903--24881/24320/23830

5.1. 25903-24928=975
5.2. 24928-25355=427
5.3. 25355-24360=995
5.4. 24360--24595/24740/24858/24975(should be below 24928)
5.5. ~24850--24500/24270/24080

Friday, October 26, 2018

Nifty/BankNifty - Long term view

BankNifty weekly -

5EMA crossed 62EMA and closed at 24421. Last time this crossover happened back in September 2015 and BN fall appx 3200 points(20%- 17000-13800). For first 3 weeks it tried to recover, price closed above 62 EMA but EMA's crossover didn't happen(on upside). Then it start it downward journey to 13800 and downfall lasts for appx 15 weeks.

So if BN follows same pattern this time as well then it may bounce from here till second or third week of November'18 and then will start falling(if 5EMA cross didn't happen on upside) till 20200. Stochastic already below 20 and MACD entering in to negative territory after a long time and if November bounce didn't sustain and fail to bring MACD back above zero, possibility of downfall is high. This downfall can last till March'2019.

Nifty weekly -

Same is the story with Nifty as well, last time it falls 10-12%. This time if it fails to make a comeback(and stays above 10500-10800), it may goes down till 9100.

Tuesday, October 9, 2018

Nifty/BankNifty - 10/10/2018

Nifty - possible H&S failure. If Nifty breaks 10280 enter short with appropriate stop loss. H&S failure target is 10080.

Banknifty if traded below 24510 enter short with appropriate stop loss. Long above 24621

Monday, October 8, 2018

Nifty/BAnkNifty - 09/10/2018

In hourly chart there is positive divergence. W is formed, long above 10390, short below 10260.

In hourly BsnkNifty chart W is formed(24630 upper range) but its coming down after touching upper trendline(24723).
Long above 24700, SL 24630. Short below 24620.

Sunday, October 7, 2018

Nifty/BankNifty - 08/10/2018

Wednesday, October 3, 2018

Nifty/BankNifty - 04/10/2018

Enter long near 10820-10850, SL 10800. Or long near 10915, SL 10900

1. 10823-11035=212
2. 11035-10844=189
3. 10844-->11106/11187

If third wave has to start, 10823 should not breach.