Once Again We Succeeds As Usual

JAY SWAMINARAYAN

We said last week   “   Nifty will be traded with negative bias below 5480 and it would be decline towards 5390 – 5300. Other hand above 5480 Nifty will be traded with positive bias and it would be tries to touch 5570 – 5660.   “   We suggested Strategy:   [1]  Open short below 5480 with stop loss 5570 for targets 5440 – 5390 – 5350 - 5300.   [2]  Open long above 5480 with stop loss 5390 for targets  5510 – 5570 – 5600 – 5660.

Nifty opened positive and traded expected. In first half Nifty registered high of 5528.70 than turned back towards our shorting level and declined sharp towards 5100. Nifty achieved our both down side targets and registered low of 5118.85 and took support at 5120 then tried to recover the losses and succeeded to do so. In this process Nifty gave smart up move towards 5480 in second half and closed flat.

Once Again We Succeeds As Usual

Ø  We warned you in our weekly review of 21-07-2013 when Nifty closed at 6029.

Ø  Piz keep close eye on 6070 level, in any situations if Nifty fails to cross and sustains above 6070 than it will be in big-big trouble in upcoming weeks.

Our Success

      According to this Nifty registered high of 6093 on 23-07-2013 but not succeeded to sustain above 6070 so Nifty declined sharp and register low of 5119 on 28-08-2013.  Thus Nifty lost more than 950 points ( - 16 % ) in just 27 trading sessions ( 6 weeks ) after our warning.

o   Remember Nifty gained more than 500 points in last 4 weeks and closed in green each n every week, when we warned you.

                             For This Week

We expect same for this week, Nifty will be traded with negative bias below 5480 and it would be decline towards 5390 – 5300. Other hand above 5480 Nifty will be traded with positive bias and it would be tries to touch 5570 – 5660.  Nifty have 1^st Sup. at 5440 – 5390 & 2^nd Sup. at 5350 – 5300 and Nifty find 1^st Res. at 5510 – 5570 & 2^nd Res. At 5600 – 5660.

Strategy:

[1]  Open short below 5480 with stop loss 5570 for targets 5440 – 5390 – 5350 - 5300. 

            

                        

[2]  Open long above 5480 with stop loss 5390 for targets  5510 – 5570 – 5600 – 5660.

NIFTY :: OP = 5499.40 , HI = 5528.70 , LO = 5118.85 , CL = 5471.80.