Elliott Wave & Technical Analysis for Nifty

Event of the Financial Budget is round the corner. Let's check out the Technical Probabilities as of now.

Technical Analysis for Nifty

For the whole Month of April till now the range of Nifty is just apprx. 200 points even with important events as Results and RBI policy etc gone by . It may be making most traders uncomfortable as this sideways , low range and low volume Market tends to whipsaws all trading systems. Below are some charts with observations.

Tweets for Nifty Trading

RBI policy was announced today and setup posted yesterday gave a good trade on long side . Below are few Tweets done as observation in the runup to the RBI event .

13-04-12 :

16-04-12

Hope they helped !!!

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Trade the Nifty Chart

The RBI policy is to be announced tomorrow. A simple trade set up with Entry and Stoploss given along with a SAR level to be managed in case of a whipsaw. The move tomorrow may be the base for a trending move in short term.

How to Trade Nifty ???

Technical Analysis for Nifty

The Markets had a typical short term turnaround in the end of the last week's trading. It catches most retail participants like a rabbit in a torch light ,frozen,surprised and a sense of disbelief . Mature traders having their systems in place are able to cut their wrong positions fast , some even reverse but foremost they save their trading capital and lock in their profits and let the price action decide their decision . Such reversals emphasize the importance of a trading system , sensitivity of it , rules set for trading and discipline to follow it.

"The Secret of winning the Big game is to loose the least amount possible when one is wrong  ".

Break-Down

Yet another range break on the downside. It was expected that Nifty may trade in the 5400-5600 range till expiry today ,it did trade in the range till yesterday but gave a good breakout trade below 5400 today.
 

RAGING BULLS

MARKETS WILL DO THINGS LEAST EXPECTED SO AS TO CAUSE MAXIMUM PAIN      

                

THE RANGE WAS RESOLVED TODAY AND ACTED AS A BEAR  TRAP                                                                                 

5385 WILL BE THE IMP. LEVEL TO WATCH

OPEN  INTEREST ANALYSIS STILL SHOWS UPSIDE CAP AT 5500                                       

TOMORROW NEVER DIES

BE PATIENT ,BECAUSE "TOMORROW NEVER DIES"

HOPEFULLY THE TUG OF WAR RESOLVES TOMORROW

CATCH THE "TUG OF WAR"

THE VOLUME PROFILE SEEMS TO HAVE RESOLVED THE RANGE

TOMORROW'S OPENING MAY GIVE GOOD REWARDS

SLEEP WELL BUDDY! ! TOMORROW WILL BE A BUSY DAY FOR U

CHECK THE POSITIONAL ANALYSIS

IT'S THE TUG OF WAR

1.THREE DAYS OF RANGE BOUND TRADING.TRADE THE BREAKOUT TO COME

2.CHECKOUT THE VOLUMES IN THE ABOVE RANGE.BE PREPARED EARLY

3.TODAY'S TRADING ENDS WITH SOME POSITIVE DIVERSION

 I KNOW THEY DIDN'T TREAT U WELL TODAY.GET WELL SOON BUDDY !!!

CHECK OUT FOR POSITIONAL ANALYSIS