New High For DOW

A Few Days Back I Wrote This , "" When Dow Enters 35670-35790 Range if there is a small correction from this range ,DOW Will again reach a New High ,Else a multi year TOP Is in place " The Correction 35700 Was A Minor Sideways Phase And So We Have Seen A NEW HIGH For DOW

DOW---- UPDATE

DEDOW Trades At 35520 ,as Expected A Siginficant up move Everything Depends upon what Happens When Dow Enters 35670-35790 Range if there is a small correction from this range ,DOW Will again reach a New High ,Else a multi year TOP Is in place

UP Move From Suggested Support Zone

DOW===U[date

Dow ,made a low of around 34750 and currently Trades ar 35130 ,an expected support zone did work BUT ,Spme more conclusive evidence needed to define weather this up move is ONLY A CORRECTIVE Or A New Upmove

DOW - Short Term View

Dow is Trading At 35408 Now And Its Downward Target Is 34900-35030 in a Few Days And Expect A Smart Rally From these Levels Again Gold May Crash Up to 1600 USD In A Few Weeks Time

 DOW My view : DJIA Is at 34319 right now ,it can fall up to around 34000 ,+ or - 100 points around 34000 ,but if it FAILS To recover After this small fall then Expect A Huge DOWN Move in Dow Jones and in the World Markets Later on

Else ,we will see Another leg on the up side from tomorrow onwards

WEEKLY Technical View

Weekly Technical View For NIFTY & BANK NIFTY :

Our Markets Seems To Be Poised For A Great Bull Wave Which Could Last Till NIFTY Reaches Around 10600 Levels

I Will Try To Explain Why And What Is The Technical Requirements For Such A Strong Bull Run

First We Need To Observe Market Move On A Budget Day And Since We Will Have A Very Strong Bullish Candle On Monthly Charts Ideally Even If Budget Dissatisfy Markets We Will See A Sharp Panic Which Will Be Bought into Immediately

Next Will Be A Technical Indicator ,Stochastic Which Is Overbought On Weekly Charts And If In Next Few Weeks This Stochastics Comes Down Without Much Of Price Erosion We Will See An Explosive NIFTY Move

A BANKNIFTY Weekly Chart Posted Below Shows How STOCHASTIC Behaved Early 2016 And To Take NIFTY/BANK NIFTY Beyond 2015-2016 Highs I Believe We Will See Nearly Same Sort Of Movement In Coming Few Weeks

Here Is The Chart :

Identifying First IMPULSE:

This Is Very Critical To Anticipate Future Moves

Last 5 Weeks move in our markets look very identical to the bull move in March 2016 And When We Use Multi Time Frame Charts We Can Have Even More Conclusive Technical Evidence That We Are In For A Dream Bull Run Very Soon

As Can Be Seen On This Monthly Charts It is very Clear That The 4 Months Down Move Was Just A CORRECTION As The Move Took Support At 50% Fibonacci Retracement Levels ,Made Double Bottoms On Daily Chart And Now A Strong MORNING STAR Candle Reversal Pattern On Monthly Charts

NIFTY 50% Retracement :

NIFTY MONTHLY CHART :

How To Visualize Targets ?

Here is how I Have Set NIFTY Targets Of Around 10800 !

Again ,Identifying 1^St Impulse Is Critical

A Way To Identify Targets Is A Combination Of Gann & Elliot

Look At This Quarterly NIFTY Chart Which Presumes That End 2008-Early 2009 Was An IMPULSE

The Last Green Arc Is the Target & A Probable Reversal Zone Which is Way Beyond 10k In A Few Quarters With A STOP Below 7890

Look How Two Red Arcs Were Proven To Be Strong Resistance Zones In 2010-11 & 2015-16

Another Way Of Predicting Targets Is Reverse Fibonacci Levels

I Have Used Reversed Fibonacci Levels Of Two Different Corrective Moves One A Larger 2015 Correction And Second The Very Recent 2016 Correction And I Have Noticed That Around 9700 And 10600 For NIFTY And 25400 For Bank Nifty We Have A Match of Different Fibo Levels As Shown On Charts Of Both

NIFTY :

BANK NIFTY:

We Can Safely Presume That Once 9000-9100 Zone Is Taken Out We Will See 9700-10600 Levels For NIFTY Very Easily

Candle Stick Analysis Point of view The Strong January Monthly Candle Is A Game Changer Otherwise Weaker December 2016 Quarter Had Suggested If There Was  DOUBLE TOP Kind Of Pattern On Nifty

The Middle Portion Of The January 2017 Candle Is A Strong Support Now Which Is Roughly Around 8250 So Unless We Have Large BEARISH Weekly Candle Close Below 8250 There Is A Very Very High Probabilty Of Our Markets Attaining Dizzy Heights

Also This Strong Up Move From December Lows Suggests We Will Have A Strong Verdict Favouring NAMO In Coming Five State Assembly Elections As Markets Discounts The Future Well In Advance

TECHNICAL VIEW

Technical View For NIFTY & BANK NIFTY:

We Have Seen A Very Smart Rally In Both The Major Indices Post Budget

A Major Event Awaited By The Markets Was RBI Policy Day And Just Before That The Move Especially In BNF Was A Perfect Rising Channel

Yesterday That Channel Has Been Decisively Broken So Unless BNF Moves Back Above 16000 On HOURLY CLOSING Basis I Feel We Are In For The 1st Major Correction POST BUDGET

1st Target Seems To Be 15220 And Next 14872 But We Will See Some Good Bounce Back From Around 15200

For NIFTY The Price Structure Seems Slightly Different And CONE Shaped

1st Supports Around 7600 But Once We Have A CLOSE Below 7600 And 7550 (Where We Have The TREND LINE Support),We Will See A SHARP Short Term Down Move Up To 7434

Here Are NF & BNF Charts

NF HOURLY:

BNF HOURLY: