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 MARKETS FOR  08 MARCH    THE NEW WEEK OPENS AT THE BACK DROP OF  A HIGHLY BULLISH LAST WEEK AND A BULLISH 122 POINT RISE IN DOW ON FRIDAY NIGHT. WELL IF ASIAN MARKETS COUPLED WITH SGX NIFTY DONT DISAPPOINT BY SPRINGING IN A NASTY SURPRISE ON MONDAY MORNING, THEN THERE IS EVERY POSSIBILITY OF A BIG GAP UP OPENING ABOVE 5100 OR EVEN ABOVE FRIDAYS HIGHS OF 5118.WITH +VE GLOBAL CUES SPECIALLY +VE ASIAN CUES BEFORE OPENING OF INDIAN MARKETS, ONE CAN EXPECT NIFTY TO TEST NEXT RESISTANCE AROUND 5136 TO 5140 LEVELS AND IF SUSTAINS ABOVE THIS LEVEL, THEN THERE IS EVERY POSSIBILITY OF NIFTY INCHING UP TO CROSS 5151 LEVELS TO HAVE A TEST OF FIBONACCI 76.4% RESISTANCE AROUND 5160 LEVELS WHERE PROFIT BOOKING MAY AGAIN  BRING DOWN NIFTY TO CLOSE AROUND SUB 5150 LEVELS.

IN CASE OF A NASTY SURPRISE FROM ASIAN MARKETS ALONG WITH HARASSING ACTION OF SGX NIFTY, THEN NIFTY FINDS INITIAL SUPPORT AROUND THE LOW OF THE 30 MINUTE 2 IN 1 INSIDE BAR AT 5080 LEVELS, A BREACH OF WHICH CAN EASILY BRING DOWN NIFTY TOWARDS MAKE OR BREAK SUPPORT AROUND 5066 LEVELS. A DECISIVE BREACH OF 5066 CAN WEAKEN NIFTY TO TEST SUB 5050 LEVELS AND MAY EVEN SLIP TOWARDS 5040 FROM WHERE BULLS MAY AGAIN COME CHARGING IN  AS BEARS ARE LIKELY TO RUN AWAY BY COVERING WHATEVER SHORTS THEY HAD GENERATED WHEN 5080 WAS BREACHED.

PURELY BASED ON TECHNICALS, MOST LIKELY THERE IS EVERY POSSIBILITY OF NIFTY INCHING UP TO CROSS FRIDAYS HIGHS OF 5118 TO MOVE FURTHER UP TOWARDS 5136,5150 OR EVEN 5160 LEVELS BECAUSE THE MERE CROSS OVER OF 5101 CAN CATAPULT NIFTY STRAIGHT ABOVE 5118 LEVELS DUE THE ACTIVATION OF A MINI REVERSE H&S FORMATION WITH LOW OF THE HEAD AT 5068 AND SOLDER LINE AROUND 5101 LEVELS. TRADERS CAN PLAN TO GO LONG IF NIFTY CROSSES ABOVE 5101 ON THE SECOND ATTEMPT OR AFTER CROSSING INITIALLY IT SUSTAINS ABOVE IT, FOR A MINIMUM TARGET OF 5140 LEVELS.

BUYING MAY BE INITIATED IN STOCKS WITHIN THE SECTORS  OF OIL & GAS EXPLORATION, PHARMA, BIOTECH, INFRASTRUCTURE AND METALS FOR VERY GOOD GAINS IN THE SHORT TO MEDIUM TERM. (DETAILS OF STOCKS & FUTURES WITH THEIR PRICES ARE FOR SUBSCRIBERS ONLY)

MORNING UPDATE  AT 7 AM  08 MARCH  DOW CONTINUED WITH ITS BULLISH RUN AFTER 2 DAYS OF PAUSE & ON FRIDAY IT WAS UP BY 122 POINTS. EUROPEAN MARKETS WERE UP FROM 1% TO 2% WITH FTSE UP BY 1.3%, DAX UP BY 1.4% AND CAC UP BY 2.1%. BRAZIL WAS UP BY 2.1%. ASIAN MARKETS HAVE OPENED STRONGLY AND MAY CONTINUE TO REMAIN STRONG FOR THE DAY.

FOR INDIAN MARKETS, EXPECT A BIG GAP UP OPENING AROUND 5100 OR EVEN ABOVE FRIDAYS HIGHS OF 5118 LEVELS & FROM THERE ON NIFTY CAN MOVE UP TO SCALE 5136 FOLLOWED BY 5151 OR EVEN 5160.WITH ANOTHER SET OF +VE CUES FROM WORLD MARKETS THIS NIGHT NIFTY EVEN CAN TEST 5200 BY MID WEEK. TRADERS MAY LOOK FOR AN INTRADAY DECLINE TO GO LONG IN NIFTY AS WELL AS STOCKS OF OIL & GAS EXPLORATION, BIOTECH, INFRASTRUCTURE & METAL STOCKS FOR GOOD GAINS.

OPTION TRADERS MAY BUY 5100 CALL ON DECLINES OF MARKETS AND 5000 PUT ON RISE OF MARKETS AND CARRY INTRADAY CYCLIC TRADING AS PER THE VOLATILITY OF MARKETS. MARKETS ARE LIKELY TO REMAIN STRONG AT LEAST TILL MID WEEK. SHORT TERM TRADERS MAY USE THIS OPPORTUNITY TO GO LONG ON EVERY DECLINE  AND HAVE A STRICT MENTAL QUIT POINT BELOW 5040 SPOT NIFTY LEVELS TO GO SHORT ON ANY DAY EITHER BELOW 5060 OR 5040 LEVELS.

STOCK FUTURES & OPTIONS TRADING   FOR SUBSCRIBERS ONLY 

INTRADAY TRADING LEVELS FOR NIFTY  08 MARCH (NIFTY FUTURES FOR SUBSCRIBERS ONLY

(FOR SUBSCRIBERS BY SMS OR YM) FOR INTRADAY TRADING, NSE INDEX HAS INITIAL RESISTANCE AROUND  TO  LEVELS. BREACH OF  CAN TAKE NIFTY TOWARDS  BREACH OF WHICH CAN TAKE NIFTY UP TO NEXT IMPORTANT INTRADAY RESISTANCE AT . BREACH OF   CAN TAKE NIFTY UP TO CRITICAL RESISTANCE AT   WHERE IT SHOULD FIND SOME  PROFIT BOOKING BY THE LONG  POSITION HOLDERS. ABOVE  NIFTY CAN MOVE UP TO  TO   THAT WILL GENERATE MERCILESS BULL LIQUIDATION & RUTHLESS BEAR HAMMERING. ON THE LOWER SIDE NIFTY FINDS INITIAL  INTRADAY SUPPORT  AROUND  TO. BREACH OF  CAN TAKE NIFTY TO  CRITICAL  SUPPORT AT  TO  LEVELS BELOW WHICH NIFTY BECOMES WEAK TO RETEST  OR LOWER LEVELS . INABILITY TO SUSTAIN ABOVE  WILL SCARE THE BULLS THAT MAY START THE BULL SELL OFF & RUTHLESS SHORTING BY BEARS  THAT CAN SLIDE NIFTY NEARER TO  LEVELS.

CLOSING LEVELS FOR NIFTY 08 MARCH ()  CLOSING  SUPT       CLOSING RES  

WEEKLY  GENERAL MARKETS ANALYSIS  FOR WEEK ENDING  12 MARCH  SO, FINALLY THE POST BUDGET TRUNCATED WEEK ENDED WITH A BANG NOTCHING UP A PREDICTABLE GAIN OF 166 POINTS, A RISE OF 3.4% OVER THE CLOSING OF ITS PREVIOUS WEEK. THE RESISTANCE AT 4950 WHICH ONCE LOOKED HARD TO BREACH, HAS NOW BECOME ALMOST A FORGOTTEN LEVEL, AS NIFTY TESTED POST 5100 LEVELS TILL 5118 ON FRIDAY. WHAT IS MORE IMPORTANT IS THAT INDIAN MARKETS WERE NOT THE ONLY ONES MOVING UP BUT IT WAS THE ENTIRE WORLD EQUITY MARKETS MOVING UP STEADILY TO BREACH THEIR RESPECTIVE RESISTANCES & GRADUALLY INCHING UP TOWARDS NEW YEARLY HIGHS OF JANUARY 2010.

IT IS VERY INTERESTING TO NOTE THAT, ALTHOUGH MOST OF THE WORLD MARKETS PRESENTLY ARE TRADING MUCH BELOW THE JANUARY HIGHS, YET SOME OF THE EUROPEAN MARKETS SPECIALLY UK FTSE HAS MOVED UP TO CLOSE ABOVE ITS DAILY EOD JANUARY CLOSING HIGH & ONE SHOULD NOT BE SURPRISED TO SEE OTHER WORLD INDICES GRADUALLY MOVING UP TO CROSS JANUARY HIGHS IN COMING DAYS. MOST OF THE ASIAN MARKETS SO FAR HAD A COUPLE OF SUBDUED WEEKS, AND ARE NOW EVEN TRADING STILL BELOW THE FEBRUARY HIGHS, AND MOST LIKELY THE COMING FEW WEEKS MAY BE HIGHLY BULLISH FOR ASIAN MARKETS. MOST OF THE EUROPEAN MARKETS, US & BRAZIL ARE LOOKING EXTREMELY BULLISH FOR MEGA UP MOVES, BUT MOST LIKELY ASIAN MARKETS MAY MOVE UP FASTER IN COMING DAYS TO CATCH UP WITH US, EUROPE & LATIN AMERICAN MARKETS.

FOR INDIAN MARKETS ALTHOUGH THIS WAS THE 4TH CONSECUTIVE +VE WEEKLY CLOSING AFTER FEB 8TH LOW OF 4675, YET DURING THE 1ST 3 +VE WEEKS, NIFTY COULD TOTALLY RISE BY ONLY 2% & IT WAS ONLY THE POST BUDGET WEEK ENDING 5TH MARCH THAT SAW A 3.4% RISE, THAT TOO WITH  4 TRADING DAYS ONLY, CLEARLY INDICATING HIGH MOMENTUM DELIVERED BY THE MARKET FRIENDLY BUDGET. ALTHOUGH ONE SHOULD  NOT EXPECT 13 WEEKS OF CONSECUTIVE RISE AS WAS SEEN FROM MARCH 2009 TILL JUNE 2009, YET THE WEEKLY CHARTS CERTAINLY INDICATE MANY MORE WEEKS OF BULLISHNESS THAT MAY TAKE NIFTY WELL PAST THE 6TH JANUARY HIGH OF 5311.RESUMPTION OF FIIS POURING IN HUGE AMOUNT OF FRESH FUNDS ON A DAILY BASIS AFTER THE BUDGET IS AN EARLY INDICATION OF THE SHAPE OF THINGS IN STORE FOR INDIAN MARKETS IN COMING DAYS.

COMPARING THE JANUARY HIGHS WITH MARCH HIGHS  STARTING FROM JAN 1996 TILL MARCH 2009, IT IS INTERESTING TO NOTE THAT 8 TIMES MARCH MONTH MADE HIGHER HIGHS THAN JAN HIGHS. DURING THE YEARS 1996 TILL 1999 MARCH MADE HIGHER HIGH THAN JAN, IN 2000 MARCH HIGH WAS LOWER THAN JAN HIGH, IN 2001 & 2002 MARCH MADE HIGHER HIGHS THAN JAN HIGHS, IN 2003 & 2004 MACH HIGHS WERE LOWER THAN JAN HIGHS, DURING 2005 & 2006 MARCH MADE HIGHER HIGH THAN JAN HIGHS & FINALLY FOR LAST 3 YEARS FROM 2007 TO 2009 MARCH MADE LOWER HIGHS THAN JAN HIGHS. SO SEEING THE DATA OF LAST 14 YEARS & THE WAY RELATIONSHIP BETWEEN HIGHS OF MARCH & JANUARY ALTERNATES IN A GROUP OF EVERY 2 TO 3 YEARS, THERE IS EVERY POSSIBILITY OF MARCH OF 2010 MAKING A HIGHER HIGH THAN THE JAN HIGHS OF 5311.THE +VE IMPACT OF BUDGET COUPLED WITH FLATNESS OF MARKETS FOR A LARGE NUMBER OF WEEKS BEFORE MARCH & BUDGET HAVING GIVEN THE REQUIRED BREAK OUT OF THE FLAT ZONE & FINALLY THE WEEKLY TECHNICAL INDICATORS CLEARLY GENERATING BULLISH INDICATIONS, HAS CERTAINLY TILTED THE BIAS TOWARDS A HIGHLY BULLISH MARCH MONTH MOST LIKELY TO OVERTAKE THE JAN HIGHS OF 5311 PERHAPS BY 3RD WEEK OF MARCH 2010.

IF ONE HAS A CLOSER LOOK AT THE WEEKLY CHART ABOVE, ONE WILL NOTICE THAT DURING EACH OF CORRECTION STARTING FROM THE LOW OF 2252 MADE ON 27TH OCT 2008, EACH OF THE 6 SWING LOWS MADE DURING MARCH 09,JULY 09, AUG 09,NOV 09 & FINALLY IN FEB 10, NOT A SINGLE TIME NIFTY HAS BREACHED ITS PREVIOUS SWING LOW & ON EVERY BOUNCE AFTER EACH OF THE SWING LOW MADE, NIFTY HAS EVERY TIME GONE ON TO MAKE A NEW HIGH, THUS GIVING A CLEAR HOPE THAT THE PRESENT BOUNCE FROM 8TH FEB SWING LOW OF 4675 WILL CONTINUE TO MOVE UP TO BREACH THE 6TH JAN HIGH OF 5311 AS IT HAD DONE IN EARLIER 5 CASES. CERTAINLY THERE WILL BE MINOR CORRECTIONS IN BETWEEN BUT TESTING & BREACHING 6TH JAN HIGHS OF 5311 LOOKS TO BE A DISTINCT POSSIBILITY IN MARCH.

WEEKLY TECHNICAL INDICATIONS  FOR WEEK ENDING 12 MACH  THE RISE OF 3.4% BY NIFTY  DURING THE WEEK HAS MADE MOST OF THE TECHNICAL INDICATORS GENERATE BULLISH SIGNALS FROM NEUTRAL INDICATIONS.

WEEKLY INDICATORS   AMONGST ALL THE WEEKLY INDICATORS, THE FIRST THAT STRIKES THE VIEW IS THE CONFLUENCE OF IMPORTANT WEEKLY FIBONACCI 5,8,13 & 21 EMAS BELOW 5000 NIFTY LEVELS AND A DECISIVE BREAK OUT BY NIFTY ABOVE THE CLUSTER OF THESE WEEKLY EXPONENTIAL MOVING AVERAGES. AS CAN BE SEEN IN THE WEEKLY CHART ABOVE NIFTY JUST JUMPED UP ONCE IT BREACHED THE CLUSTER OF EMAS. THIS HAS THE POTENTIAL OF TAKING NIFTY HIGHER FOR MANY MANY MORE WEEKS OF UP MOVE. A SIMILAR CROSS OVER OF THE CONFLUENCE OF THESE EMAS HAD EARLIER HAPPENED IN MID MARCH 2009 AS CAN BE SEEN IN THE WEEKLY CHART ABOVE THAT TOOK NIFTY CONSECUTIVELY UP FOR 13 WEEKS TILL MID JUNE 2009. HOWEVER WHETHER THIS TIME IT WILL AGAIN BE THE REPEAT OF MARCH 09 TO JUNE 09, TIME ONLY WILL CONFIRM BUT CERTAINLY IT HAS THE POTENTIAL OF A VERY LARGE UP MOVE BEYOND EXPECTATIONS.

 SECONDLY 50 WEEK SIMPLE MOVING AVERAGE HAS DECISIVELY BREACHED THE 200 WEEK SIMPLE MOVING AVERAGE  TO MOVE FURTHER UPWARDS FIRST TIME AFTER 2003 THE YEAR WHEN THE PREVIOUS BULL MARKET HAD STARTED  & CONTINUED FOR 5 FIBONACCI YEARS TILL JAN 2008.THIS COUPLED WITH THE SAME EVENT IN RESPECT OF 50 & 200 EMA ALSO STRENGTHENS THE LONG TERM BULLISH VIEW FOR INDIAN MARKETS AND MAKES EVERY DOWN SWING A GREAT BUYING OPPORTUNITY FOR GREAT LONG TERM BENEFITS.

AS CAN BE SEEN IN THE CHART ABOVE, WEEKLY STOCHASTIC  HAVING BOUNCE UP BEFORE ENTERING THE LOWER ZONE HAS NEARLY CROSSED THE NEUTRAL LEVEL. SIMILARLY WEEKLY W%R HAS BOUNCED UP FROM JUST SHORT OF THE LOWER ZONE AND CROSSED THE NEUTRAL LEVEL. THESE ARE EXTREMELY BULLISH INDICATIONS. MORE IMPORTANTLY THESE INDICATORS HAVE GENERATED HIDDEN DIVERGENCES WITH NIFTY MAKING HIGHER LOWS FROM JULY 09 TILL  FEB 2010 WHERE AS THE INDICATORS MAKING LOWER LOWS, CLEARLY DEPICTING CONTINUANCE OF THE UP TREND INDICATED BY NIFTY. WEEKLY RSI IS GRADUALLY INCHING UP & NOW ABOVE 50 AT 57 AFTER GENERATING SIMILAR HIDDEN DIVERGENCE. TREND INDICATOR THE WEEKLY ADX HAS GENERATED STRONG BULLISH SIGNALS WITH +VE DMI AT 28 ABOVE BOTH  ADX AT 22 & -VE DMI AT 15. WITH BOTH ADX AS WELL AS +VE DMI TURNING UPWARDS AT THESE LEVELS, CLEARLY INDICATES A LONG TERM UP MOVE OF MANY MORE WEEKS. STRONGEST OF THE WEEKLY INDICATIONS IS GENERATED BY THE ICHIMOKU WHERE PRICE HAS DECISIVELY BREACHED AND MOVED ABOVE BOTH  TENKANSEN AS WELL AS KIJUNSEN, EACH BEING ONE ABOVE THE OTHER &  ALL THE 3 ARE HIGH ABOVE THE CLOUD ZONE. THIS HAS A LONG TERM BULLISH INDICATION.          

DAILY INDICATORS     SIMILAR TO THE CONFLUENCE OF IMPORTANT WEEKLY EMS IN WEEKLY CHARTS, THE DAILY EMAS OF 8,13,21,34,55 & 89 HAVE CLUSTERED BETWEEN 4950 TO 5000 LEVELS AND NIFTY HAS DECISIVELY BREACHED AND CLOSED ABOVE THE CLUSTER DEPICTING FURTHER UP MOVE. DURING EVERY SWING LOW MADE SINCE LAST MARCH 09, NIFTY HAD GONE BELOW THIS CLUSTER OF FIBONACCI EMAS AND QUICKLY BOUNCED BACK EACH TIME TO MAKE NEW HIGHS, CLEARLY INDICATING THAT 6TH JAN HIGH OF 5311 COULD BE EASILY BREACHED DURING THIS UP SWING BEFORE THE RUBBER BAND EFFECT OF THESE EMAS OVER STRETCH THEMSELVES FOR A CORRECTIVE DOWN SWING.

OTHER DAILY INDICATORS LIKE SLOW STOCHASTIC, W%R & CCI ALTHOUGH ARE IN THE OVER BOUGHT ZONE, THESE MAY CONTINUE TO LOOK OVER BOUGHT FOR SOME MORE DAYS AS HIGHER WEEKLY INDICATORS HAVE STARTED TO GENERATE BULLISH SIGNALS. DAILY RSI AT 63 AND MACD COMING FROM BELOW THE NEUTRAL LINE TO CROSS IT UPWARDS ARE BULLISH INDICATIONS. DAILY ADX IS GIVING STRONG BULLISH SIGNALS FOR FURTHER UP MOVE. DAILY ICIMOKU HAS JUST STARTED TO TURN UP FROM OVERSOLD ZONE WITH PRICE HAVING MOVED UP ABOVE THE CLOUD ZONE AFTER CROSSING BOTH TENKANSEN & KIJUNSEN BOTH OF WHICH ALTHOUGH ARE BELOW THE CLOUD ZONE ARE GRADUALLY LOOKING UP.

SO OVER ALL THE DAILY AND WEEKLY INDICATORS ARE DISPLAYING STRONG BULLISH SIGNALS FOR FURTHER UP MOVE ENCOURAGING ONE TO BUY ON EVERY DECLINE AS THE POSSIBILITIES OF MAKING A NEW HIGH ABOVE 6TH JAN HIGH OF 5311 ARE QUITE HIGH, IF NOT DURING THE COMING WEEK BUT CERTAINLY A FEW DAYS AFTER THE COMING WEEK.

WEEKLY ELLIOTT WAVE ANALYSIS     AS REGARDS ELLIOTT WAVE COUNTING IS CONCERNED, WE STILL MAINTAIN THE VIEW THAT NIFTY IS IS IN BULLISH MODE PRESENTLY FORMING INITIAL 1ST PART OF 3RD MAJOR UP WAVE. 

THE BULL RUN WHICH HAD STARTED FROM 6TH MARCH 09 LOW OF 2539 HAD ITS 1ST  UP WAVE TILL 10TH JUNE 09 HIGH OF 4688. THE ABC ZIG ZAG 2ND WAVE CORRECTION CAME DOWN TILL 13 JULY 09 LOW OF 3919.FROM THE LOW OF 3919 THE 1ST SUB WAVE OF 3RD MAJOR UP WAVE STARTED AND THIS 1ST SUB WAVE HAS ALREADY COMPLETED 4 WAVES WITH THE 4TH SUB SUB WAVE 3,3,5 FLAT HAVING BEEN COMPLETED ON 8TH FEB LOW OF 4675. THE FINAL UP 5TH  LEG OF THE 1ST SUB WAVE MAY BE COMPLETED AROUND 5400+ TO 5500 LEVELS AFTER WHICH THE 2ND DOWN SUB WAVE OF 3RD MAJOR UP WAVE MAY BRING DOWN NIFTY  TOWARDS 5300 LEVELS AGAIN. EACH OF THE SUB SUB LEGS OF THE 1ST SUB LEG OF 3RD MAJOR UP WAVE ARE MARKED IN BLUE IN THE WEEKLY CHART ABOVE.

THE 1ST SUB SUB LEG OF THE 1ST SUB LEG WENT UP TILL 4TH AUG 09 HIGH OF 4731 , 2ND DOWN SUB SUB  CAME DOWN TILL 2ND SEPT 09 LOW OF 4577,3RD UP SUB SUB  WAVE WENT UP TILL 20 OCT 09 HIGH OF 5103. THE 4TH SUB SUB WAVE 3, 3, 5 FLAT CONTINUED WITH 1ST SET OF 3 DOWN WAVE TILL 3RD NOV 09 LOW OF 4540, 2ND SET OF 3 UP WAVES WENT UP TILL 6TH JAN 10 HIGH OF 5310 AND FINAL SET OF 5 DOWN WAVES CAME DOWN TILL 8TH FEB 10 LOW OF 4675. PRESENTLY SINCE 8TH FEB LOW OF 4675 PERHAPS THE 5TH UP SUB SUB WAVE OF 1ST SUB LEG OF 3RD MAJOR UP WAVE HAS STARTED THAT MAY MOVE UP NEARLY EQUAL TO 1ST UP SUB LEG WHICH WAS OF 800 POINTS THAT MAY TAKE NIFTY UP TO ANY WHERE BETWEEN 5454 TO 5555 LEVELS.

CONFINING TO THE UP WAVE THAT HAS STARTED FROM 8TH FEB LOW OF 4675, WHICH IS THE 5TH UP SUB SUB LEG OF 1ST SUB WAVE OF 3RD MAJOR UP WAVE, WILL AGAIN HAVE 5 WAVES & AS ON 5TH  MARCH 2010, THE 1ST UP WAVE  IS STILL ON OUT OF WHICH 4 LEGS ARE OVER  WITH 2 FLAT DAYS ON 4TH & 5TH MARCH TO BE FOLLOWED BY 5TH UP LEG TOWARDS 5166 LEVELS. THE SET UP 5 WAVES FROM THE LOW OF 4675 MAY TAKE NIFTY TOWARDS 5454 TO 5555 LEVELS TO COMPLETE THE 1SUB WAVE OF THE 3RD MAJOR UP WAVE. THE 3RD MAJOR UP WAVE MAY BE COMPLETED AROUND 7200 NIFTY LEVELS TO CONFIRM THE COMPLETION OF REVERSE H&S FORMATION WITH LOW OF THE HEAD AROUND 27TH OCT 09 LOW OF 2252 AND SOLDER LINE AROUND 4730 LEVELS.

WEEKLY FIBONACCI LEVELS   FROM THE HIGH OF 5310 TILL THE LOW OF 4675 NIFTY FELL BY 635 POINTS. DURING THE UP MOVE NIFTY IS LIKELY TO FACE RESISTANCES AROUND 38.2%,50%,61.8%,76.4% 100%, 138% & SO ON. AS OF 5TH MARCH NIFTY HAS ALREADY CROSSED TILL 61.8% FIBONACCI RESISTANCE LEVEL WHICH WAS AROUND 5066 LEVELS. NOW 76.4 % RESISTANCE MAY TEMPORARILY HALT NIFTY FOR ANOTHER PAUSE AROUND 5160 LEVELS ABOVE WHICH NIFTY CAN STRAIGHT TARGET 6TH JAN HIGH OF 5310 FOLLOWED BY 1.382 TIMES TILL 5555 LEVELS.             

WEEKLY TRADING RANGE FOR WEEK ENDING  12 MARCH THE WEEKLY TRADING RANGE FOR THE COMING WEEK MAY BE 5188 TO 5225 ON THE HIGHER SIDE AND 5066 TO 5045 ON THE LOWER SIDE. A DECISIVE BREACH TO CLOSE BELOW 5045 CAN PULL NIFTY DOWN TOWARDS 4985 AND SIMILARLY A DECISIVE BREACH OF 5200 TO 5025 TO CLOSE ABOVE IT CAN EASILY SEE WITHIN A FEW DAYS NIFTY CROSSING 6TH JANUARY HIGH OF 5311 FOR MUCH HIGHER LEVELS.

PLAN OF ACTION FOR THE WEEK ENDING  12 MARCH  TRADERS CAN REMAIN LONG AS LONG AS NIFTY SPOT SUSTAINS ABOVE 5068. ONE CAN GO SHORT IN CASE NIFTY SPOT BREACHES 5066 TO SEE LOWER TARGETS OF 5045 TO 5040. TRADERS MAY GO ON A SHORTING RAMPAGE IN CASE OF A DECISIVE BREACH OF 5040 TO SEE LOWER TARGETS OF 5000 OR EVEN 4985 WHERE SHORTS MAY BE COVERED & TRADE REVERSED TO GO LONG.

SIMILARLY ON THE HIGHER SIDE A DECISIVE BREACH OF 5118 CAN EASILY TAKE NIFTY TOWARDS 5160. MORE LONGS MAY BE ADDED IN CASE SPOT NIFTY SUSTAINS ABOVE 5160 FOR TARGETS OF 5180 TO 5200 OR HIGHER LEVELS TOWARDS 5225. SUSTAINING ABOVE 5200 TO 5225 LEVELS SHOULD ENCOURAGE TRADERS TO TAKE RISK OF GOING ON A BUYING SPREE BY ADDING MORE LONGS FOR MUCH HIGHER TARGETS OF 5310 AND ABOVE IN COMING WEEKS.

ALTHOUGH THE BIAS IS CERTAINLY ON THE BULLISH SIDE, YET TRADERS MUST HAVE THEIR OWN MENTAL MUST QUIT POINTS AT THEIR OWN LEVEL OF COMFORT, IN ORDER TO AVOID GETTING TRAPPED TO BEAR THE BRUNT OF UNPREDICTABLE OVERNIGHT US AND OTHER WORLD MARKETS.

ASTROLOGICAL INDICATIONS  FOR WEEK ENDING 12 MARCH   FOR ASTRO PACKAGE SUBSCRIBERS ONLY

BIGGEST MISTAKES BY TRADERS  

TWO OF THE BIGGEST MISTAKES  MOST TRADERS GENERALLY COMMIT ARE:--  FIRSTLY,  THEY DO NOT FOLLOW THE TREND,  HAVING AN  EVER LASTING TENDENCY OF  ALWAYS TRADING AGAINST THE EXISTING TREND WHETHER INTRADAY OR DAILY OR WEEKLY. SECONDLY, NOT HOLDING ON TO THEIR GAINS THINKING THAT GAINS WILL GO AWAY THUS QUITTING EARLY FROM  LIKELY GREAT GAINS AND AT THE SAME TIME BOLDLY HOLDING ON TO THEIR LOSS MAKING TRADES FOR DAYS, WEEKS & MONTHS TOGETHER THINKING THAT LOSS WILL BE REDUCED OR  WILL TURN OUT TO BE A GAIN IN A FEW DAYS WHICH ACTUALLY NEVER COMES AND   THE LOSS GRADUALLY BECOMES SO BIG THAT ENTIRE CAPITAL IS WIPED OUT OR ONE IS FORCED TO QUIT AT A MUCH BIGGER LOSS & INTERESTINGLY PRICE TURNS JUST AFTER QUITTING. WITH THIS WRONG TRADING HABIT, 5 TIMES OF GAINS ARE WIPED OFF BY A SINGLE LOSS. SO, IF ONE WANTS TO  BE A SUCCESSFUL TRADER, THEN THESE TWO WRONG TRADING HABITS MUST BE RECTIFIED BY    FIRSTLY TRADING IN THE DIRECTION OF THE EXISTING TREND, SECONDLY  DEVELOPING  A HABIT OF QUITTING LOSSES EARLY  AND HOLDING  ON TO THE  GAINS BY MENTALLY SHIFTING  MUST QUIT POINTS IN THE DIRECTION OF GAIN.