My Trades and Notes

My views

1. Till last trading session, a rising trend line (from 27.12.16) was well maintained by NIFTY, though on 3.3.17 price breached below trend line but NIFTY closed just around trend line. Also NIFTY was moving in a rising channel till now, lets see how it moves now.
2. Secondly, for short term, till NIFTY is above 8850, there is no danger to bullish trend. And even it breaches 8850 decisively (now or after some days), then a short term fall of around 150 points may be seen and NIFTY may fall down to 8700, still above 8666, the border line for medium term bullish line.
3. Its only if NIFTY breaches below 8666 decisively, then we may see bearishness. Every thing is possible in market but probability of breaching below 8666 is quite less.
4. Moreover, as per price movement, IMO, we may see 9400 in next 6 months and 9999 within an year or so.

These are my views and I reserve my rights to be wrong

NIFTY SPOT...

NIFTY may touch 10300 levels (127.20% level) after a correction...lets see what happens!

Yes, Kartik bro
Numbers (targets) do not surprise me, but timing.
When, by what time, NIFTY will be going to touch this number. Any idea.

Thanks

Bro If I could predict that then I would be flying!! we have to have the correction wave to push further...lets see!!

Karthik Bro
You are looking for, a bigger correction wave, say to the tune of 500/700 or more points
OR
For some smaller corrective waves of 100/150/200 points.

Bro,
I am looking for NIFTY to take support at 20MA (on looking at weekly charts) as it has flown away from 20MA from the beginning of this year till today. Any scrip has to retest 20MA level to push further. If I look at that perspective it may have a correction of 400-500 points but when it will happen is the question which is very hard to find out!

Well,
IMO
NIFTY wont correct this much, in short term (may be in this month)

Yes...i am also in line with you...but if makes a big fall it may touch Fibo levels of 61.80% or 50% level as per the calculation of last week High figures...

BNF Futures Weekly closed at 24066.40 which is close below 24085 (Pivot Low). The price is still above 20MA and had a nice Hammer candle formation at 20MA with volume above 20MA volume. BNF will move upwards in the range stated above but to have a Bull run further a weekly close above 25260 is required. while looking back at Fibonacci levels, the last pull back from 61.80 level has made the target to 161.80 level. If BNF fails to sustain or falls down in the coming week it will make a pull back to the level of 61.80 level which is 22340. A successful test from that level will take BNF to 30000 level in the coming week's/months which is 161.80 level.

The above are just my views and I may be wrong too