EVENT AND MARKETS what to Do ???

AS per  my earlier posts i would like to inform you that market is still in uptrend and consolidating now but there are 2 major events now .

17-18th FED monetary policy :-  & 20th RBI Policy

Whatever the result of the above as we are not here to estimate what FED or RBI could do but we are here to take the scenario as it comes,

Disclaimer –This is my personal view informing the trend only and nothing contained herein is  a solicitation to buy or sell or make any specific trade on my views. Do your due diligence before considering any of my views always. By reading this publication you agree to make no trade relying in whole or in part on my comments.

A rally from 5910 to 5950 in nifty in a month is stupendous rally and now needs consolidation and some correction if also it wants to move up. Currently nifty is defending 200 DMA at 5835 levels on closing basis and intra-day it sis supporting 5800. Also Rupee corrected from 68.80 levels to 62.40 it also needs some breather on upside now if it has to correct more.

Due to high India VIX still at 29 levels and due to events best possible is to book your profits out and stay on side line. Nifty below 5800 could take support at 5770 – 5740 and 5625 levels if it has to be in up- momentum. Rupee will slide down to 64-64.50-64.90 in such case.

If nifty does not break 5770 and breaks above 5960 then 6030-6093-6190 is possible where rupee could do 62-61.25-60.

The broader range is 5200-6200 on nifty and on rupee 60-68 as of now. This trend could change but will take sometime and we will update as we go forward. Also to note that from 11th Oct the 2nd quarter results will start flowing in which could then weigh on fundamentals more then technical.

In my view wait for dips to buy then to enter for fresh buys …and those with high expertise could go short below 5770….it needs high nimble approach to go short with stop-losses to be placed for each trade.

Disclaimer :- chartideas.wordpress.com (previously 2bindasbol) , Twitter Id @Chart_Ideas & FB page chart.idea
The analysis and information in this report and on our website is for informational purposes only. No part of the material presented in this report or on our websites is intended as an investment recommendation or investment advice. Neither the information nor any opinion expressed herein constitutes a solicitation to purchase or sell securities or any investment program. The opinions and forecasts expressed are those of the authors as mentioned in each post and may not actually come to as mentioned as Investment in Stocks and commodities depends on many factors and we just analyze on the basis of charts in almost majority cases where ever otherwise specified. The opinions and viewpoints regarding the future of the markets should not be construed as recommendations of any specific security nor specific investment advice. Investors should always consult an investment professional before making any investment.Any investment decisions must in all cases be made by the reader or by his or her investment adviser. Do NOT ever purchase any security without doing sufficient research. There is no guarantee that the investment objectives outlined will actually come to as mentioned herein. All opinions expressed herein are subject to change without notice. Neither the editor/Authors,  nor any of their affiliates shall have any liability for any loss sustained by anyone who has relied on the information provided.The analysis provided is based on both technical and some what fundamental research and is provided “as is” without warranty of any kind, either expressed or implied. Although the information contained is derived from sources which are believed to be reliable, they cannot be guaranteed.Authors/Editors  and affiliates of chartideas.wordpress.com (previously 2bindasbol) , Twitter Id @Chart_Ideas & FB page chart.idea   may at times have positions in the securities referred to and may make purchases or sales of these securities while publications are in circulation. Editors/Authors  will indicate whether they have a position in stocks or other securities mentioned in any publication. The disclosures will be accurate as of the time of publication and may change thereafter without notice.By accepting emails, including various subscriptions and  email reports and newsletters, you agree to the terms of this Disclaimer as such may be amended from time to time.There are numerous other factors related to the markets in general or to the implementation of any specific trading system which cannot be fully accounted for in preparation of hypothetical performance results and all of which can adversely affect results.Actual results fluctuate in value on a daily basis and therefore inter-year results will be more or less volatile than calendar year returns.Investments in equities carry an inherent element of risk including the potential for significant loss of principal. Past performance is not an indication of future results.This text and pics and any files transmitted with it are intended solely for the use of the information only and that any use , dissemination , forwarding, printing is solely for users personal use only  but copying  and forwarding of this on mass basis without prior permission and posting it on any digital media or hard copies  without prior permission is strictly prohibited . Anyone found guilty of the above may have to face legal action as the case may be (subject to mumbai jurisdiction).Beware of market risk.  Trading is always a high return high risk game and it needs nimble trading approach with tons of discipline. As always, please note this is not a trading recommendation. It is purely for educational purpose with technical analysis where in you can know what the chart tells. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writer/s, authors or any affiliate involved with chartideas.wordpress.com (previously 2bindasbol) , Twitter Id @Chart_Ideas & FB page chart.ideaWriter/author may or may not have positions in stocks or index items as discussed in the posts. Kindly take proper professional advice before investing.
Advertisements