NIFTY Elliot Wave Analysis- For the Elliot Wave Lovers

Hi all,

A quick post below for the Elliot wave fans amongst us. NIFTY spot hourly charts posted. Gives and very good Elliot wave formation view. Based on this we are done with wave 5 now. So What’s Next?

•         Either we are in a corrective wave
•     Or a complex wave formation where a new wave starts.

NIFTY Spot Elliot Wave hourly Charts

Potential retracement levels from here assuming this as intermediate bottom as this co incides with the gap filling zone.

ü  We would expect to see a retracement to 5295-5300 zones in the first place.

ü  Above that Lies 5330-35 which is 50% retracement of the swing. Movement above that zone can be treated as a strong reversal.

Let us all watch out in the coming sessions. Happy and Safe trading J

REVIEW OF 6th Sep 2012 AND UPDATE FOR 7th Sep 2012

NIFTY FUTURE – 6^th Sep Recap

NIFTY FUT  lets quicky review what was our Trading cue of the day: “: Safe traders look to short on rise till 5280 levels with SL above 5305 or a break down trade below 5240. At the same time if NIFTY FUT manages to hold on to 5245 for the first half of the day, look for a quick pull back contrarian trade with stops  at 5240”
Couldn’t had again got more closer. In the morning session markets managed to hold on to 5240 and eventually pulled back from there giving ample opportunities to contrarian players. At the same time let us observe what was the pull back high made.(High made at 5285 levels ) from there market just pulled down to do some decent downside targets.
Lets analyze it from the Trading levels perspective. We mentioned that TREND DECIDER of the day is 5240 levels , markets exactly pulled from there, We also wrote that the BULLS LAST STAND point of the day as 5280 levels and  and markets eventually drifted to close at lower levels.
What trade did we give to our subscribers? Well exactly as we wrote shorting at 5283 and booking handsome gains till 5260 levels.
Markets failed to clear 5280 levels? Where do we see downside supports? When to take intra and swing pull backs? Read our post for next session.

Update: We have been testing away our automated signals (SMARTSIGNALS) for stocks as well and just posted a call today, check our facebook page. INFY fut blasted to give more that 4500 INR profit per lot in a single trading session.

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NIFTY FUT traders were advised to short below 5282 levels and booked final profits near 5260 levels, but at the same time we had advised safe traders early exit because of running out of session time…Looking for decisive trade entries?.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us.

NIFTY FUTURE – 7^th Sep Trading Guide

NIFTY FUT tested the resistance levels of 5280 levels but failed to close above it indicating that there is in decisiveness in the market. Also this was justified by the fact that NIFTY FUT traded in a very small range for a good part of the day. the good news for the BULL players is that NIFTY FUT managed to hold on again to 5245 levels barring the opening gap down. This is significant and we may see some pull back from here if these levels continue to hold, at the same time crucial swing acid test levels remain the 5350 levels. which have to be watched out for.
For intra play, immediate resistance now comes at 5285 levels and a move above that will surely test the 5305 levels this time and trading above that 5325 is on the cards. At the same time on the downside a break of 5240 will trigger an imminent breakdown.
Momentum indicator wise not much change from yesterday’s levels . Short term momentum indicator will move into bullish territory above 5285 levels now and mid term momentum indicators will only be bullish above 5350 levels. Expect a good bout of short covering if that level is taken out.

Cues for trading this Firday: NIFTY FUT pretty much traded in the same range for the past 2 trading sessions. So avoid any intra play within 5280-40 range. Look for a break out or breakdown trade above our below this range with 25 point stops.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5280-85 sustaining above which it will target 5305,5325,5355
POWERTRADE TREND DECIDER OF THE DAY ------- 5240-45
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5198-5205

Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5188,5175,5155

Detailed analysis also posted at www.powertrades.blogspot.com

We at Powertrade believe A Successful Trade is a result of the finest blending of absolute money management skills along with time tested analytical skills refined with conviction. So if you need expert hand holding advisory services to make money trading these levels Register @www.powertrade.co.in and subscribe to our Premium Packages which are loaded with Points Commitment Challenge.

REVIEW OF 5th Sep 2012 AND UPDATE FOR 6th Sep 2012

NIFTY FUTURE – 5^th Sep Recap

NIFTY FUT just a quick review of our pre-market trade advisory:” Look for 5280 again as the key level… look for a break down trade below 5278 with 25 odd points stops again.” And just look at the morning high made on the charts today (High Made 5279.95). Couldn’t have got closer than that. No points for guessing this time what was our on market advisory to clients as well.
Thanks to global cues markets opened gap down just below that level and once it was trading below this level (Also marked as our TREND DECIDER) markets drifted downwards and tested the crucial support levels of 5245 which was marked as our positional support for quite some time. From there we saw some pull back to try and attempt to recover just like yesterday. But a failed pull back eventually meant that the low was tested and broken.
Brilliant trading sessions as per our levels again.
We have been clearly warning that yesterday’s pull back was accompanied by lower volumes and we at least need NIFTY FUT to clear out 5325 levels on the upside for some short term longs to be confirmed. Our position on that was justified.
Markets broke through 5240. And managed to close above it? Next is what? How to trade the coming session?

Update: Our advanced automated trading signals, SMARTSIGNALS blasted away more than 100 points in a single trading session.


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NIFTY FUT traders were advised to short below 5278 just as advised and booked profits all the way till 5251 levels. Star trade of the day was with BankNifty Futures where we went short below 10,000 and booked profits all the way till 9893 levels giving away massive gains, more than wiping away the 14 points loss yesterday. Looking for decisive trade entries?.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 6^th Sep Trading Guide

NIFTY FUT tested and broke the crucial support levels of 5240 but at the same time managed to close marginally above it. This will be the first and the most crucial thing to watch out in the next session. If the levels hold up on a sustained basis, will mean it was only a spike breakdown and BULLS can breathe a little easy. At the same time a confirmed pull back will only be ensured if NIFTY FUT moves above 5280 levels on the upside. Else best call that as a wait and watch zone.  Immediate resistance too now comes at 5275-80 levels and trading above that level will again attempt 5305 odd levels. Acid test for BULLS still remain as the crucial level of 5325 levels on the upside.
On the downside a breach of 5240-45 levels will mean that short players will continue to have some more free run.
Next support levels emerge at  5232 and a breach of it will test 5215 and 5198 levels on the downside.
5175-88 levels are the next major target for the short players in case NIFTY FUT moves below the zone of 5240.
Long term momentum indicators just barely manage to hold neutral to positive until 5240 holds. But at the same time the short term and mid term momentum indicator are now in negative territory and will continue to be so until a minimum of 5280 levels are taken out.

Cues for trading this Thursday: Safe traders look to short on rise till 5280 levels with SL above 5305 or a break down trade below 5240. At the same time if NIFTY FUT manages to hold on to 5245 for the first half of the day, look for a quick pull back contrarian trade with stops  at 5240.
POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5278-80 sustaining above which it will target 5305,5325,5355
POWERTRADE TREND DECIDER OF THE DAY ------- 5240-45
POWERTRADE BULLS LAST STAND POINT OF THE DAY------- 5198-5205
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5188,5175,5155

Detailed analysis also posted at www.powertrades.blogspot.com

We at Powertrade believe A Successful Trade is a result of the finest blending of absolute money management skills along with time tested analytical skills refined with conviction. So if you need expert hand holding advisory services to make money trading these levels Register @www.powertrade.co.in and subscribe to our Premium Packages which are loaded with Points Commitment Challenge.

REVIEW OF 4th Sep 2012 AND UPDATE FOR 5th Sep 2012

NIFTY FUTURE – 4^th Sep Recap

NIFTY FUT, we have been writing and clearly mentioning out in the past few sessions that 5250 levels are a crucial support levels to watch out for. Lets Review what we wrote for 4^th Sept: “Immediate resistance now emerges at 5280-85 levels and if it sustains below this level in the opening session. Chances are high that NIFTY FUT will drift down to test the downside positional support levels of 5250 zone” Look back at the charts and see the market reaction. NIFTY FUT morning high just made at that level of 5280-85 levels and then pulled down to test our positional support levels of 5250 (low made at 5258). There it pulled back smartly to take out 5280 levels and closed a shade below our resistance levels mentioned at 5406 levels.  
A range bound yet a near perfect trading sessions vis-vis when compared to our pre market levels.
Let us review what we wrote as cues for trading: “Immediate resistance now emerges at 5280-85 levels and if it sustains below this level in the opening session. Chances are high that NIFTY FUT will drift down to test the downside positional support levels of 5250 zone”.  Just worked perfectly again.
Markets closed above 5300? Now what next? Is the short term correction done? Or some down move is still left?
Read our market post for the next session


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NIFTY FUT traders just as written in the blog went long at 5265 levels with stops at 5245 (breakdown level mentioned pre mkt) and closed the trade at 5294 levels. BankNifty Fut traders had a small loss today going short at 10010 and decided closed the trade out at 10025 after a failed test of 9970 breakdown levels. Looking for decisive trade entries?.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 5^th Sep Trading Guide

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NIFTY FUT managed to close above 5300 levels but the again the bad news this time is that the move was accompanied by lower than average volumes. Also now immediate resistance now remains at 5306 levels and trading above this level will test 5325 levels and above that the swing resistance of 5450 levels will be a key challenge level to watch out for.  A pull back with lower volumes so far seems more of an indication that the short terms shorts were apparently covered seeing a failed breakdown of 5250 levels. What will be key to watch out is if NIFTY FUT takes out 5325 on an immediate basis and 5350 levels on swing basis.
On the downside now 5280 will act as an immediate support level and a breach of that will again test 5250-60 levels. If NIFTY FUT breaks those levels we can see a quick test of 5225 and 5200 odd levels on the downside.
For the short term momentum will swing to positive above 5325 levels and mid term momentum indicators remain neutral to weak below 5350 levels. On the downside a breach of 5245 levels will turn this negative.
Lon term momentum continues to remain positive above 5245 level as well

Cues for trading this Wednesday: Look for 5280 again as the key level. In case markets move above 5406 levels go long with stops around 5280 as well look for a break down trade below 5278 with 25 odd points stops again.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5320-25 sustaining above which it will target 5355,5285,5410
POWERTRADE TREND DECIDER OF THE DAY ------- 5278-82
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5345-50
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5232,5215,5195

Detailed analysis also posted at www.powertrades.blogspot.com

We at Powertrade believe A Successful Trade is a result of the finest blending of absolute money management skills along with time tested analytical skills refined with conviction. So if you need expert hand holding advisory services to make money trading these levels Register @www.powertrade.co.in and subscribe to our Premium Packages which are loaded with Points Commitment Challenge.

REVIEW OF 3rd Sep 2012 AND UPDATE FOR 4th Sep 2012

NIFTY FUTURE – 3rd Sep  Recap

NIFTY FUT, we clearly marked out that resistance is at 5320-25 levels.  This was also marked out as the BEARS LAST STAND point of the day. Morning high just made around that level and markets pulled down exactly from there. Where did it find support? Intraday low made just at our TREND DECIDER OF THE DAY where markets managed to find some support and pulled back. During the pullback it again failed to even test the 5320 level showing signs of imminent weakness and eventually pulled downward to take out the support of 5280 and closed marginally below it. The close below 5280 future levels is not good and needs to be watched out carefully for the coming sessions.

Overall NIFTY FUT stayed range bound with 40-40 odd points for most part of the session and also the volumes stayed very muted clocking the lowest volumes in the last 10 odd trading sessions.

What are the critical levels to watch out for in the coming sessions? What trades to take? Where to make low risk entries?

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No trades were taken today both for out NIFTY and BANKNIFTY Futures subscribers. Looking for decisive trade entries?.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 4^th Sep Trading Guide

The good news and the bad news. The bad news for BULL players is that NIFTY FUT closed below the support levels of 5280 signifying weakness and have also failed to take out 5325 on multiple occasions. The good news is that NIFTY FUT’s move today was accompanied by lowest volume in quite a few trading sessions and secondly 5240-50 is still intact so far. As for recent trading levels. Immediate resistance now emerges at 5280-85 levels and if it sustains below this level in the opening session. Chances are high that NIFTY FUT will drift down to test the downside positional support levels of 5250 zone. On the other side if NIFTY FUT manages to trade above or move above this zone it will attempt 5406 and clearing that will seriously test 5325 zones. Short term and mid term momentum indicator remains negative below 5325 now and at the same time the long term indicators are still holding good until 5350 is sustained.

Cues for trading this Tueday: Seriously look for 5280 as the TREND DECIDER and go short or long below or above it for any sustained trading around these levels. safe traders can play safe to intiate shorts on breakdown of 5245 or long above 5406 levels with 20 odd points stops.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5320-25 sustaining above which it will target 5355,5285,5410
POWERTRADE TREND DECIDER OF THE DAY ------- 5280-85
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5345-50
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5232,5215,5195

Detailed analysis also posted at www.powertrades.blogspot.com

We at Powertrade believe A Successful Trade is a result of the finest blending of absolute money management skills along with time tested analytical skills refined with conviction. So if you need expert hand holding advisory services to make money trading these levels Register @www.powertrade.co.in and subscribe to our Premium Packages which are loaded with Points Commitment Challenge.

SmartSignals Performance Reviewed and Demystified:

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It is time to review the performance and how smart signals performed:

SmartSignals-BankNifty Review
Average Point Earned	663
Total Point Earned	919
No.of Trades	16
Avg. profit in Winning Trade	81
Avg. Loss in Losing Trade	-41

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REVIEW OF 31st Aug 2012 AND UPDATE FOR 3rd Sep 2012

NIFTY FUTURE – 31^st  Aug  Recap

NIFTY FUT, we had mentioned that the TREND DECIDER of the day is 5325 levels and this is where immediate resistance was supposed to come. NIFTY FUT made a morning high just there above this level and also an intra day high at the same zones. But failing to sustain these levels NIFTY FUT crashed to test the the BULLS LAST STAND point of the day at 5280-85 levels. Below that the target identified was 5265, NIFTY FUT low made just around that level again. We have been talking that 5250-55 is a crucial support level and this was again not breached today, NIFTY FUT found some support there and managed to pull back to close a shade above 5280 levels.
 As part of cues for trading we had advised to go play contrarian trades within the range and any contrarian shorts on upmove would had yielded good results for intra day players?
How the coming sessions will span out? Will we see some bounce back? What are the next break down levels? All answers at our post for the next session

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Our subscribers in NIFTY FUT  went short below 5315 levels and booked profits till 5385 and closed the trades just  a advised in the blog. Our  BankNIFTY subscribers too had a quick trade of instant gains going long above 10120 levels and booking profits just in time at 10180 levels.. Are you still worried about your trade entries? Are you missing on these turning points entries? How about looking at our points guaranteed services. …... Where to take the next trade? Did you catch the move in the right time?.... Are you still guessing where to trade? Subscribe to our premium calls and leave your trade entry and exit worries to us. 

NIFTY FUTURE – 3^rd Sep Trading Guide

NIFTY FUT we had been writing that the zones of 5240-55 are the crucial positional retracements and support levels to watch out for. Markets made a double dip at these range and have managed to hold it so far. So what to expect next ? If we look at the short term and mid term momentum indicators, the view is until these levels are respected we should see some retracement and up move from here. How strong will the pullback be? This will be determined by the fact if NIFTY FUT can take out 5355 levels on the upside in the short term. Similarly for the downside players a breach of 5250 levels will mean another leg of down run and in all likely hood also end the long term bull momentum which we had been maintaining as positive so far.
As for intra levels, immediate support again emerges at 5280 levels and holding this level will retest 5325 on the upside. On the downside if  NIFTY FUT breaks 5280 again will retest 5255 -65 zones for intra players. Serious BEARS will only emerge out once these levels are broken.
.For now again immediate short term momentum is neutral a, this will remain so until NIFTY FUT manages to hold on above 5280 levels. Again at the same time the mid term momentum remains negative until NIFTY FUT holds below 5355 or until new levels emerge out in the coming sessions.

Cues for trading this Monday: Look for pull back longs with stops at 5280, or a break down short below 5250 should also work well. At the same time if we see 5325 being taken out on a sustained basis we may see a test of 5355 levels.

POWERTRADE BEARS LAST STAND POINT OF THE DAY -----5320-25 sustaining above which it will target 5355,5285,5410
POWERTRADE TREND DECIDER OF THE DAY ------- 5280-85
POWERTRADE BULLS LAST STAND POINT OF THE DAY-------5350-55
Breakdown and sustaining below POWERTRADE BULLS L0AST STAND POINT OF THE DAY will open target for support of ---- 5232,5215,5195

Detailed analysis also posted at www.powertrades.blogspot.com

We at Powertrade believe A Successful Trade is a result of the finest blending of absolute money management skills along with time tested analytical skills refined with conviction. So if you need expert hand holding advisory services to make money trading these levels Register @www.powertrade.co.in and subscribe to our Premium Packages which are loaded with Points Commitment Challenge.