Hold it tight–Nifty moved as predicted!

 

3 days back everyone was talking that market will go down sell sell sell and don’t buy ever. While I predicted to BUY the very next day if market trade above 4600 and it did - http://blog.vikasverma.com/2011/12/nifty-nifty-oh-my-nifty.html

20 Dec, 2011 – I said, Buy above 4600 on 21st Dec

21 Dec, 2011 – Market Opened @ 4636 (above 2%)… so soon retraced to near 4600 level but did not broke 4600, so BUY @ 4630

22 Dec, 2011 – Opened lower around 1.5% today, but did not go below 4600 and finally closed @ 4733 – already 100 points of gain

23 Dec, 2011 – Today market is trending side ways, near 4750 (mostly above 4750) which is another crucial level.

If you are not very risky player then book some profits and hold the rest. Market can go RED again and trade below the RED down trending line.

 

PS.: Cautious buyers should buy only above the breakout from the upper blue line and wait for a target near touch of the upper red line.

 

Chart of NIFTY as of NOW (23 Dec, 2011 – 12:50pm IST)

Nifty… Nifty… oh my Nifty!

 

This post is for all my followers who trade in Nifty specifically or Indian equity market otherwise. Nifty has broken below my STOP level of 4700 as I had been saying since last couple of posts. So what’s the big deal you may ask? well… it has activated H&S pattern. While I am not very fond of these patterns but they have a good reliability too. So thought of warn you people who think its going to bounce back in another day… just wait you fellas.

So let’s look how market is looking today

 

Now let’s look at it from the eyes of a wolf

It is making another bull wave… so all the fear, breaking 4700, H&S pattern can be put on rest. and give market some time to move sideways inside the sweet zone (green shaded area). The market can slide all the way to even 4000 I am not doubting that… but I am saying that BUY ONLY ABOVE RED LINE (trending down) and SELL NEAR RED LINE (trending up)

BUY above 4600 tomorrow or above 4500 next Week (26 Dec), Stop at 4000, Target 5800.

Stop Loss = 500 points , Profit = 1200 points

THIS IS A MID TERM CALL – 6 months to 12 months

Ouch! Nifty!! but has it moved as predicted…huh?

 

Let’s go back to 28 September 2011 when I posted this blog - http://blog.vikasverma.com/2011/09/december-2012-what-it-has-for-you.html 

I said…

Check the opening of coming Monday (3rd Oct.) and follow the strict levels.

Aggressive Buyers:

Buy @ 4950 , Stop @ 4700 , Take Profit @ 5150 , @ 5300

and these were the levels on 3rd Oct.,

So, we waited and did not trade… next day market tanked to 4728… just above our stop level

The entry came 7 days after, as the trade was still pending… we entered at 4950 and market closed at 4979.60 on 10th Oct

The market touched the level of 5399.70 on 28th Oct. in just 18 days… both target met.! and a SAFE profit of 350 points… entry at 4950 , exit at 5300 !

Following is the trade depicted in the picture..

So what’s cooking now, why market is down so much? How to trade next? Wait for my next post in some time… trust me take a small break… don’t trade NOW.!!!