10/01/2017
MARKETS FOR MONDAY O9 JAN NIFTY HAD A WEEKLY CLOSING AROUND 8244 SPOT AND 8267 FUTURES MUCH HIGH R THAN THE HIGHS OF ITS PREVIOUS WEEKENDING 30TH DECEMBER HIGHS OF 8197 SPOT AND 8297 FUTURES SUGGESTING THE CONTINUATION OF THE BREAKOUT UP MOVE, OF COURSE WITH REGULAR AND PERIODIC DOWN SIDE RETRACEMENTS AS WAS SEEN ON FRIDAY’S PULL DOWN TO 8233 SPOT AND 8256 FUTURES AFTER MAKING INTRADAY HIGHS OF 8303 SPOT AND 8329 FUTURES AS PART OF A DECEPTIVE BREACH OF 200 DAY SMA.
AS WAS MENTIONED EARLIER, ALL SUCH CORRECTIVE RETRACEMENT DOWN MOVES ARE BUYING OPPORTUNITIES TILL SUCH TIME NIFTY DOES NOT FALL TO CLOSE FOR A DAY OR TWO BELOW 4TH JANUARY 7TH NRB LOWS OF 8181 SPOT AND 8187 FUTURES & IF THAT HAPPENS THEN ONE CAN REVERSE FROM LONG TO DOUBLE SHORTS. FAVORITE 8300 CALLS MUST BE SHORTED ON EVERY RISE TO POCKET THE PREMIUM ON THESE CALLS. EVEN INTRADAY RISES CAN BE USED TO BRUTALLY SHORT 8400 CALLS AND HELD WITH THE BOUGHT FUTURES AND 8100 CALLS BE BOUGHT ON DECLINES AS HEDGE.
THE WEEKLY CHARTS CONTINUE TO LOOK STRONG WHICH SUGGESTS THAT IN CASE THERE IS SOME MORE PULL DOWN ON MONDAY THEN ONE CAN BUY FUTURES TOWARDS 8200 AND HOLD. LAST WEEKENDING 6TH JAN HAD A LOW OF 8133 SPOT AND 8151 FUTURES EXACTLY ON THE 50 WEEKLY SMA. SO, EVEN IF NIFTY HAS A DAILY CLOSING BELOW 8181 SPOT, IT MAY STILL FIND WEEKLY SUPPORT ON THE 50 WEEK SMA AROUND 8133 SPOT.
WITH THE MONSTER WEEKLY GREEN CANDLE OF WEEKENDING 30TH DECEMBER HAVING MADE AN OUT SIDE CANDLE SETUP WITH ITS PREVIOUS WEEKLY CANDLE WITH THE MOTHER CANDLE HIGH OF 8197 SPOT AND 8207 FUTURES, FORMED A GOOD WEEKLY OUTSIDE CANDLE TRADE SETUP TO BE TRIGGERED DURING THE NEXT WEEK ENDING 6TH JANUARY.THE WEEKENDING 6TH JANUARY CANDLE WITH A HIGH OF 8303 SPOT & HAVING BREACHED THE HIGHS OF THIS MONSTER GREEN WEEKLY CANDLE OF WEEKENDING DECEMBER 30TH AT 8197 SPOT AND HAVING CLOSED ABOVE IT, CONFIRMS THE FORMATION OF A HIGHLY BULLISH SETUP ON A WEEKLY BASIS THAT CAN ONLY BE NULLIFIED IN CASE OF A CLOSER BELOW THE LOWS OF THIS SETUP FORMING CANDLE LOWS OF 7893 SPOT.
MOST LIKELY 50 WEEKLY SMA AROUND 8133 WILL PROVIDE VERY STRONG SUPPORT TO NIFTY ON ANY DOWNSWING TO BE TRIGGERED BY HOPELESS & MISERABLE QUARTERLY RESULTS OF INFOSYS AND OTHER TECH COMPANIES NEXT WEEK. SO, USE EVERY RISE IN INFOSYS TO BOLDLY SHORT EVEN THOUGH PROTECTIVE HIGH-FLOWN ENGLISH WILL BE UTTERED BY THE INFY MANAGEMENT TO SAVE INFY FROM BRINKS OF DISASTER. BANK STOCKS WILL RISE TO SAVE THE MARKETS FROM THE MISHAP CAUSED DUE TO TECH MASSACRE NEXT WEEK.
FOR MONDAY’S INTRADAY TRADING OF NIFTY FUTURES, BOLDLY TRADE SHORT IN CASE NIFTY FUTURES CAN NOT BREACH AND STAY ABOVE THE PSYCHOLOGICAL 8300 FUTURES MARK. IN CASE , THE SLIDE WHICH WAS LEFT FROM FRIDAY’S END CONTINUES THEN A FURTHER SLIDE AND STAY BELOW 8240 FUTURES CAN BE USED TO ADD ON TO THE INTRADAY SHORTS THAT SHOULD BE COVERED NEARER TO 8210 OR 8200 FUTURES. A DAY OR TWO OF DOWN SIDE RETRACEMENT CAN BE USED TO TRADE SHORT TO BE COVERED ON TUESDAY OR WEDNESDAY FOR LONGS AGAIN EVEN THOUGH THE LOOSELY HANGING BEARISH SWORD OF INFY MAY FALL ANY TIME TO CHOP THE NECKS OF INFY BULLS.(REMAINING INTRADAY TRADING LEVELS FOR SUBSCRIBERS ONLY)
