The Future of Nifty Future - Viral Joshi

Nifty Future for July 8 - Viral Joshi

Pivot is 4200 and support is 4100.

S1 4150; S2 4120; S3 4100; and

R1 4180; R2 4200; R3 4220/4250.

Buy above 4180 and if it breaks 4190 then 4200-4220-4250-4300.
Short below 4160 and if it breaks 4150 then 4135-4120-4100.

Daily moving averages:

5DMA 4296;
20DMA 4368;
50DMA 4171;
200DMA 3366.

Bank Nifty

Pivot is 6950 and Support is 6750.

S1 6950; S2 6900; S3 6850/6800; and
R1 7000; R2 7050; R3 7100/7150.

Buy above 7000 and if it breaks 7020 then 7050-7100-7150.
Short Below 6950 and if it breaks 6920 then 6900-6850-6800.

Dow Jones

Pivot is 8,215 and support is 8,100.

S1 8,150; S2 8,120; S3 8,100; and R1 8,215; and
R2 8,250; R3 8,300/8,350.

Above 8,215 Dow is positive and below 8,150 Dow is negative.

Gap Down Opening Today of 35-45 points.

If Nifty succeeds in holding 4100 level till 4500 level is not broken, then Nifty lead towards big break out of 4750, else 3700 as H&S would be triggered.

Trend Can Change to be negative and if and only if 4100 Broken. Till then it is bullish.

Nifty Consolidation Could Start - Rakesh Chandra

I had asked to wait for 2 more days to let the momentum cool off. So the next two days a red closing has happened on cue. Now what? Has the momentum has cooled off completley (trading below 4550 only) or is there still some upside left (above 4600)?

The car can go off some more distance even if the engine stops unless brakes are applied. Newton second law of motion states that a body tries to main its current state unless an external force acts on it. Here the external force is chaos i.e. new information.

Below 4450, further downside would be on cards. On an EOD basis Nifty is forming an extracting triangle. The expanding triangle is said to be a good indicator of a reversal pattern, and is usually analyzed when a price has been increasing to see if a decrease is likely to occur - also called broadening top and broadening formation.

With stoploss 4,553 buy above 4,599.08 next week with up target >4,673 >>4,793.
With stoploss 4,599 short below 4,553.42 next week with lower target >4,480 >>4,360 >>>4,286.

Option player can sell 4800 call option on rise and collect the premium.

Nifty 3rd Wave Extension In Progress - Rakesh Chandra

In the Nifty EOD chart, Nifty is following an extended 3rd upwave. The possible target of this wave is 4800.

It will take 2-3 days more for the momentum to cool off and then a 4th down consolidation wave will progress. On the upper side, we need to be cautious and must take protection for longs. Profit booking on longs looks highly attractive although the market has not yet given a sell signal.
In the coming days volatility would increase.

The trading level is as follows:
Buy Nifty future with 4,647 stoploss buy Nifty future 4,663.89 for next day up target>4,692 >> 4,737 >>>4,765.

With stoploss 4,664 short Nifty future below 4,646.61 with lower target >4,619 >>4,573 >>>4,545.

Nifty Future for May 19 - Viral Joshi

Pivot is 3750 and support is 4320.

S1 4380 S2 4350 S3 4320 R1 4400 R2 4450 R3 4500/4550.

NIFTY FUTURE
BUY ABOVE 4400 & IF BREAK 4420 THEN 4450 - 4500 - 4550.
SHORT BELOW 4380 & IF BREAK 4370 THEN 4360 - 4340 - 4320.

Daily moving averages:

5DMA 3781;
20DMA 3569;
50DMA 3188;
200DMA 3359.

Dow Jones Tonight for May 18 - Viral Joshi

Pivot is 8,275 and support is 8,100.

S1 8,250; S2 8,200; S3 8,150; and R1 8,275; R2 8,300; R3 8,350.

Above 8,275 Dow is positive and below 8,250 Dow is negative.

Nifty Future for May 18 - Viral Joshi

Pivot is 3665 and support is 3600.

S1 3675 S2 3665 S3 3650/3620 R1 3685 R2 3700 R3 3720/3750.

NIFTY FUTURE
Buy above 3685 and if it breaks 3695 then 3700-3720-3750.
Short below 3675 and if it breaks 3665 then 3650-3620-3600.

Daily moving averages:

5DMA 3627;
20DMA 3521;
50DMA 3157;
200DMA 3357.

C Down Wave Starts in Nifty Future - Rakesh Chandra

The market has taken support from A and went up to B high in 2 days . The 3rd is a reversal day and as expected a C down wave is on the cards. The length of the C wave will be more than A wave.

Please note that we are in a bull market correction so avoid shorting on the lower side. The strategy should be to cover on the lower side and sell on the higher side. The recovery will always come as this is the usual tendency of the corrective wave.

Overall there will be chaos as the market always discounts events. There is uncertaintiy on the political front and chances of a hung parliament. Each day a new statement is issued by political players.

With stop loss 3,642 short Nifty Future below 3,628.06 for next day lower target >3,605 >>3,567 >>>3,544.

Nifty Future for May 14 - Viral Joshi

Pivot is 3650 and support is 3500.

S1 3600 S2 3580 S3 3550/3520 R1 3630 R2 3650 R3 3680/3700.

Buy above 3560 and if breaks 3570 then 3580 - 3600 - 3620.
Short below 3560 and if breaks 3550 then 3530 - 3520 - 3500.

Daily moving averages:

5DMA 3635;
20DMA 3501;
50DMA 3121;
200DMA 3362.

Nifty Future for Mat 19 - Viral Joshi

Pivot is 3640 and support is 3600.

S1 3640 S2 3620 S3 3600 R1 3700 R2 3725 R3 3750/3800.

Buy above 3680 and if it breaks 3700 then 3725-3750-3800.
Short below 3650 and if it breaks 3640 then 3620-3600-3580.

Daily moving averages:

5DMA 3634;
20DMA 3487;
50DMA 3104;
200DMA 3365.

Nifty Future for May 12 - Viral Joshi

Pivot is 3560 and support is 3500.

S1 3550 S2 3520 S3 3500/3475 R1 3560 R2 3580 R3 3600/3620.

BUY ABOVE 3560 & IF BREAK 3570 THEN 3580 - 3600 - 3620.
SHORT BELOW 3550 & IF BREAK 3540 THEN 3520 - 3500 - 3475.

Daily moving averages:

5DMA 3630;
20DMA 3470;
50DMA 3086;
200DMA 3366.

The 4th Wave is Progressing - Rakesh Chandra

The market has behaved in a way human mass psychology does.
In the last report we said to wait for next 2 days, the market movement wouldl cool off and bears would be the winners. Yesterday was just as we expected.

Now this is is the 3rd-day consecutive decline. In the near-term this support area looks like an A wave. We would again see some upside as B wave and then again C down wave. This would be the termination of the 4th corrective wave.

With stoploss 3,637 short below 3,601.99 for lower target >3,545>>3,452>>>3,395. In the last report we had advised to take 3500 put or sell 3750 call option.

Nifty In Extended Third Wave Area - Rakesh Chandra

On an EOD basis we are progressing towards end of extended 3rd up wave. This is called 5th of 3rd wave. It is a war zone for the bulls and bears, and the bears will be the winner. It requires 1-2 days more for the up momentum to cool off. Till this time, we will see sideways movement. Since Nifty has already achieved all targets on a weekly basis, do not expect much upside.

Sell a higher call option of 3750 instead of naked shorting the future; alternatively buy a put and hold. If at some point we see more upside or if stay in range for 1-2 days then take 3500 put option. As a rule, convention says that shorting a future = selling a call option + buying a put option.

Nifty Future for April 28 - Viral Joshi

Pivot is 3475 and support is 3400.

S1 3460; S2 3450; S3 3420/3400; and R1 3485; R2 3500; R3 3520/3550;

Buy above 3475 and if it breaks 3485 then 3500 - 3520 - 3550.
Short below 3465 and if it breaks 3460 then 3450 - 3420 - 3400.

Daily moving averages:

5DMA 3414;
20DMA 3273;
50DMA 2975;
200DMA 3385.

Nifty Future for April 27 - Viral Joshi

Pivot is 3460 and support is 3350.

S1 3465; S2 3450; S3 3420/3400; and R1 3485; R2 3500; R3 3520/3550;

Buy above 3485 and if it breaks 3492 then 3500 - 3520 - 3550.
Short below 3470 and if it breaks 3460 then 3450 - 3420 - 3400.

Daily moving averages:

5DMA 3395;
20DMA 3246;
50DMA 2961;
200DMA 3389.

Nifty Future for April 24 - Viral Joshi

Pivot is 3385 and support is 3350.

S1 3400; S2 3385; S3 3350; and R1 3450; R2 3480; R3 3500;

Buy above 3400 and if it breaks 3425 then 3450 - 3480 - 3500.
Short below 3400 and if it breaks 3385 then 3375 - 3360 - 3350.

Daily moving averages:

5DMA 3376;
20DMA 3219;
50DMA 2948;
200DMA 3393.

Nifty Future for April 23 - Viral Joshi

Pivot is 3335 and support is 3280.

S1 3320; S2 3300; S3 3280; and R1 3335; R2 3350; R3 3380/3400;

Buy above 3335 and if it breaks 3340 then 3350 - 3380 - 3400.
Short below 3325 and if it breaks 3320 then 3310 - 3300 - 3280.

Daily moving averages:

5DMA 3365;
20DMA 3188;
50DMA 2935;
200DMA 3397.

Nifty Future for April 23 - Viral Joshi

Pivot is 3375 and support is 3280.

S1 3350; S2 3320; S3 3300/3280; and R1 3375; R2 3400; R3 3420;

Buy above 3375 and if it breaks 3390 then 3400 - 3420 - 3450.
Short below 3350 and if it breaks 3340 then 3320 - 3300 - 3280.

Daily moving averages:

5DMA 3396;
20DMA 3162;
50DMA 2924;
200DMA 3402.

Nifty Future for April 21 - Viral Joshi

Pivot is 3380 and support is 3280.

S1 3350; S2 3320; S3 3300/3280; and R1 3380; R2 3400; R3 3420;

Buy above 3380 and if it breaks 3390 then 3400 - 3420 - 3450.
Short below 3350 and if it breaks 3340 then 3320 - 3300 - 3280.

Daily moving averages:

5DMA 3400;
20DMA 3134;
50DMA 2914;
200DMA 3408.

Nifty Future for April 20 - Viral Joshi

Pivot is 3425 and support is 3300.

S1 3380; S2 3350; S3 3320; and R1 3400; R2 3425; R3 3450/3480;

Buy above 3400 and if it breaks 3410 then 3425 - 3450 - 3480.
Short below 3400 and if it breaks 3390 then 3380 - 3350 - 3320.

Daily moving averages:

5DMA 3393;
20DMA 3103;
50DMA 2903;
200DMA 3414.