DABUR is at a critical point currently struggling to decide its path forward but cycle suggesting a deeper selloff below 488 till 458 and 426 on spot Directionally. Would watch closely

ADANI ENTERPRISE have strong support in the zone of 358 to 368 which once breaks can drag prices till 335 and 304 on spot Directionally. Current uptrend would end below 358 A frenzy stock to trade.

NIFTY finally broke the cycle of constant upsides today. But considering it a larger trend reversal is bit too early. Since the start of this month NIFTY has come the long way from 11557 to 12963 so far. So last 18 days are extraordinary for all participant’s. We too as Gann Traders had made good amount of profits on our deals during this rally. But the real test of all traders and their skills lies ahead of us.

Because when market breaks its rhythm it enters the most complicated phase for Traders. Earlier I expected NIFTY to make a shortterm top around 12850 but it went pass above it so the stoploss was moved higher and was trailed up again above 12950. After todays decline we are out of all longs.. and entered DECEMBER puts. But conservative traders should wait till 12600 breaks for any short trades. Because markets would attempt to move higher on any upsides 12950 to 12970 would remain a critical zone for next week.

Markets would approach 2 important dates in both upcoming 2 trading sessions so be prepared for voletility ahead.

Disclaimer views expressed above are personal. And are Subject to change with time. Any Trades taken with reference to above Analysis has to be at your own risk. Trading in Financial markets is always subject to risk. So dont forget to consult your Financial advisor before taking any trades.

On Tuesday I gave 12580 as trailing SL for target of 12950. Now when 12950 is achieved Trailing SL has now moved up to 12750 on spot. Market is scaling new highs with consistency vibrations positive as long as 12750 is held. Need to keep it simple.

Festival greetings to all my readers. Market too has enjoyed this festival season. Last 15 days has been very joyful for all investors and traders.

As far as current setup of NIFTY is considered I already mentioned 12850 is a key going ahead. Saturdays Muhurat trading gave lot of comfort and clarity about the Trailing SL which ultimately stands at 12580 on spot for now. As long as 12580 is held no need to complicate things current trend is up and it would remain up until 12580 stop is protected. Cycle levels on upside are 12950 and 13100 expect a good correction once 12580 breaks.

Wednesday and Friday important days for this week. Keeping this post very short. Wont be more active for this week.

Disclaimer views expressed above are personal. And are Subject to change with time. Any Trades taken with reference to above Analysis has to be at your own risk. Trading in Financial markets is always subject to risk. So dont forget to consult your Financial advisor before taking any trades.

NIFTY has to fullfill 2 criteria to move further ahead on upside. 1 it has to close above the high of wednesday. 2 It has to cross the topout zone of 12800 to 12850 convincingly to enter another upwards rally. Since we had the high on wednesday we had not tested it so far. Because as per rule of tops and bottoms we were close to a top at the high of 12768 crossing that would be the challenge going ahead. The exact number of top is in between 12800 to 12850 on spot. Avoid chasing upsides until it gets away. Price would turn more week below 12570. Big move on either side.

BHARTI AIRTEL is testing 600 in next couple of months. But in short term has to move above 495 to test 524 and 560 on spot Directionally.

On 4th of Nov I mentioned the importance of BANKING space as the key to all time highs. I also posted cycle levels on 3 Banking stock’s of ICICI BANK AXIS BANK and KOTAK MAHINDRA BANK all these stock’s has achieved their Targets.

NIFTY today achieved the second swing target of 12750 on spot. Again coming to what I said yesterday the speed of this rally which is concerning. Because NIFTY is completing weekly targets in days. Mathematically 12800 to 12850 is the short term topout zone but to make it more significant NIFTY should not close above todays high of session because its Gann date. Although the trend is still positive personally would consider December OTM puts to hedge. Above 12900 13000 NIFTY would enter another upwards rally.

SBI today achieved the first target of 224 on spot. View posted on 8th oct 2020