The Banknifty May Fall Down!

The Friday the banknifty witnessed weakness and it was closed around 12530 level and today it opened in gap up.'Inspite of this gap up opening the banknifty was unable to move beyond 12630 level'. The day high was 627 and day low was 510 ...the whole day it was caged in this tight zone and in the afternoon session a steep recovery was seen from 12520 level to 580 but it was unable to sustain in this level or unable to cross the 12600 levels.That shows a weakness sign..As per my observation there is not much fresh buying seen as expected...when the market open in gap up about 100 points...when usually this happen the short covering panic buying or fresh buying would have come and that woud have took up the market further high's...and today it was not so?. So can we take this as one of the factors for weakness

We initiated a short in the opening around day high in 12623 and placed buy at 12567 and waited and covered...As the market was in narrow zone we made 4 attempts and 1 sl was hit.Over all it was a pleasant trade as far as the profit is concerned.

Now What we can Expect Tomorrow?

i expect the next 2 session the market may show choppines or side ways trend..and there on, we can study further or forsee the trend. The Banknifty is now weak below 12380 and attract fresh selling...if , This happen, a free fall is expected. The Nifty now strong above 6208 and weak below 6118 and a free fall may happen down 6082 level.

Trade for profit- Do not apply your mind/Ego in trading...When you start fullfilling your ego in prediction, you may fail in making profits.Do not allow your ego to curtail your profits. just follow market pulse and your trading plan with strict stoploss.

Intraday Banknifty Futire Update at 1.30pm

Friends,

Yesterday i was busy and unable to up date the post.We have made about 200 points in intraday.This week is very good for us as the banknifty was adapting all our technical predictions and we made a good gain.Today opening we sold at 12600 and covered at 554 and again sold near 604 and covered at 512....This week alone we made about 513 points gain in banknifty which is great to achive only in intraday.I too aware many visitors of this site may not belief.The reasons are > The people who is in the market is already filled with many stories and will not hear what we say...The people who is new may not understand what we are talking about.

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The banknifty now trades in 12500 level a breakdown below 12454 will bring fresh selling...i am expecting a red closing today.The nifty fall down to 6084 is blood bath...be cautious in your trade and keep the trigger price wide in your sl-for longs...there may be a jump down running gaps.

Update After Market Closing/Post Market View

Again we made 3 attmpts and suceded in 2 and one sl hit about 16 points..We sold in 12623 level and placed buy at 512 and a steep fall the buy order that was well placed before was bought and made 111 points gain in one stroke in the after noon session.Again we sold at 12520 and covered at 466 and 3rd attempt sold in 526 and place sl at 536 that was triggered...Over all the net profit we made in intraday was 209 points today.

What we can expect on monday market?

The Nifty during closing recovered and closed in not so strong nor weak..So the monday market it will open in mild gap down and sustain in 6150 level.A fall down to 6084 may attract fresh selling and as per the pulse that time according to global cues panic selling may come...if by chnce it happens nifty will face a correction that correction may continue from short term to long term.I wish the traders to ook profits mainly the A group holdings.

The banknifty fall down to 12458 will attract positional shorts..and take it down to 12180/11800 levels.

Banknifty Finding its ways out...

As we expected and posted in our yesterday post today banknifty shown great volatality.It is yet another jackpot day for all our clients.In the market opening itself we sold at 12760 and placed buy at 636 and that happen to be exactly the days low...but we have covered all short in 644 itself. We have made three attempts without any SL and made a huge gain.We also alerted all our clients over phone short bulk as much as one can and there were few clients sold 100 lots and profited 116 points in one stroke.Around 3 pm we sold again in 722 and placed buy at 667 and made 55points..over all a 200 points gain (The banknifty low was 12636 and high was 767-Difference from low to high 131 points...where as we made 200 points by swing trade)

What one can expect now?

The Banknifty is in the process of Finding it ways out now..A transition phase and we do not know which side it will move!!! upside or down side..!!

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Now it will trade in a 150 points narrow zone with more swing as per the present EW properties. The 12600 range seems to be an ideal level for good volatality. A fall below 12450 may bring it down or a 3 to 4 days consolidation may take it to 13200+ levels.The nifty today shown weakness and during market closing it shoot up and sustained above 6200 level, that is again a worrisome fact for the bears.The nifty life time high is 6346 another 100+ points away if break out this level a major pull up rally may possible.There are news around nifty will go to 7200 level.I wish be a wise trader and follow your own plan of trading and ignore all rumours...just be with the market pulse and get along with it.

Caution: The word of caution from our side is trade- 'only in intraday for some time with SL' . Avoid fresh longs in both Nifty&Banknifty.