ONCE AGAIN WE SUCCEED

JAY SWAMINARAYAN

We said last week  “  We expect between 4760 -4850 Nifty have support and it should be bounce back towards 4940 – 5000 from this level but not above 5030 - 5080.  .     We suggested    Strategy:      [1]  Open your long above 4850 with sl 4760 for tgt 4940 – 4990.     [2] Open your short below 4850 with sl 4940 for tgt 4760 – 4670. if nifty comes near 5000 in this week or next week then open short with strict stop loss 5120 for tgt 4940 – 4850. “   

Nifty traded exactly what we expected. First Nifty achieved our down side target  and took support at 4760 then it turned back towards our buying level 4850 and achieved our both upside targets 4940 – 4990. As per our expectation Nifty turned back twice from 5030 – 5000 our shorting levels to achieved our down side target 4940 Nifty ended week at 4943.25 with 75 points ( + 1.55 ) gained and closed in green.

Ø  We said last week when Nifty closed at 4867   

Ø      We expect between 4760 -4850 Nifty have support and it should be bounce back towards 4940 – 5000 from this level but not above 5030 - 5080. 

Ø      If nifty comes near 5000 in this week or next week then open short with strict stop loss 5120 for tgt 4940 – 4850.

Remember at last Monday Nifty fulfill our 1^st equation and made low at 4758 then it turned back at 5000 – 5030 twice and fulfill our 2^nd equation too.

                                           For This Week           

We expect now below 4940 Nifty will be traded with negative bias and once again heading towards 4850 – 4760. Above 4940 Nifty will be traded with positive bias and it tries to test 5030. Between 5030 – 5080 again Nifty face strong resistances. This week Nifty should find 1^st Sup between 4900 – 4850 & 2^nd   Sup between 4800 – 4760 and find 1^st Res between 4940 – 5030 & 2^nd Res between 5080 – 5120.

Strategy :

[1] Open your short below 4940 with sl 5030 for tgt 4850 – 4800. If Nifty sustains below 4800 then continue short with sl 4850 for tgt 4760 -4670.                                                                                  [ We give 60 % to this Probability ]

[2] Open your long above 4940 with sl 4850 for tgt 4990 – 5030.   Open short if Nifty will come near 5030 – 5080 with strict stop loss of 5120 for tgt 4940 – 4850.                                                           [ We give 40 % to this Probability ]

But once Nifty sustains above 5120 than 5210 - 5260 is next target.

NIFTY :: OP = 4878.60 , HI = 5034.25 , LO = 4758.85 , CL = 4943.25