Nifty 23 February 2016: A Dip Before Further Rise

Time Tuned Nifty

Time Tuned Nifty for 23 February 2016

Further to my post 11 Feb 2016 : Low may be Around the Corner.

With the low dipping to 6869 on 12 Feb 16, the high zone has got shifted.  Now the high may come on 27-28 March 2016 instead of 04-07 Mar 2016 provided the low remains intact till then.

Meanwhile, the intermediate high zone is likely to come on 25 Feb 2016 and may get stalled near 7280.  Subsequent fall should see a low on 02-04 March 2016 or a little later.

Recommended Plan

Close all longs on 25 Feb 2016, preferably between recent high and 7280 and initiate shorts or take cover positions through 6900 PE of Mar expiry.

On 03 March, most likely around 6920-6900, take CEs through 7000-7200 strikes for a high on 28 March 2016.

All the best.

11 Feb 2016 : Low may be Around the Corner

Time Tuned Nifty

Time Tuned Nifty for 11 February 2016

It has been a little long since I wrote my views on Nifty here.  My apologies for lack of updates through this roller coaster ride in Nifty.  I am still not really keen to update due to my inability to remain in synch with the markets, but there has been requests that push me into writing what I perceive as the possible course of Nifty in next couple of months.

First of all, absolute low could be limited to 6700, which I have been talking about for quite some time.  11-12 Feb 2016 (today and tomorrow) mark an intermediate low and 04/07 March 2016 could be a high.  The final low may be established in Apr/May 2016.  Readers may keep an eye for a breach of UTL of the falling channel from 9119, which would define the intent for a larger rise.  Till that happens, this UTL will continue to resist the bulls and subsequent falls will keep pushing the Nifty lower.

11-12 Feb 2016   Low zone, expect 7120. 6700-6800 indicated if 7110 is breached.
04-07 Mar 2016 or may be a little later  - 7650/7820/7960, Keep a lookout for breach of UTL.


All the best.