SMART MONEY TRACKER

On Thursday 2nd July Nifty opened with a strong gap up by 57 points at 24062 and during the day never came down from that level. Throughout the day it progressed firmly to the upside and closed 170 points higher confirming the bullishness we expected in our previous post. On Friday before the weekly closing Nifty showed further strength by opening 200 points higher at 24375 but failed to sustain there. Immediately after opening it started drifting down and closed the session

Since the 15th June gap up opening in Nifty due to the war front ceasefire, it has entered into an ABCD pattern consolidation zone within the range of 23800-24250. Between 15th June and now Nifty has made 2 up-moves, found resistance around 24200-250, and 2 down-moves while supported at 23800 area. On 1st July, which was the first trading of the new July series, Nifty has probably started a 5th wave to the upside but still lacking the strength to confirm the bullishness. The

Last week Tuesday, Nifty displayed a sharp fall and breakdown from the consolidation zone which triggered a sell signal as per our spreadsheet below 23851. Nifty closed at 23824 confirming the bearish trend. However, this weakness did not continue on the following day and a sharp bounce back was observed on Wednesday when Nifty recovered almost all the loss from the previous day. The stop loss for that day from the bearish move was placed at 24078.60 and Nifty spot actually b

On 18 June Nifty 50 displayed strong bullishness despite a negative opening by 40 points. By the end of the session, Nifty was up by 82 points at 24168 and more importantly this closing was above the previous swing high of 24090 made on 26 May. However, on 19 June Nifty witnessed profit booking after the fantastic rally over the previous 5 days. After a massive gap down by 179 points it kept on falling by another 90 points before a sudden recovery came near the end of the ses

On Friday 12th June Nifty broke upside from a consolidation zone with a gap up opening and later forming strong green candles both on the price and the MHAF charts. This move also triggered a fresh buy signal, however, we did not reverse our short biased position on that instant because our predetermined reversal point was calculated at 24042. Since then we have been waiting for that reversal point to breach which happened on yesterday 17th June. Yesterday Nifty started with

Yesterday was the weekly expiry at NSE and Nifty took a U turn with consistent bullish strength. The selling pressure which brought down Nifty towards 23100 level was nicely defeated in the later half of the session and it went back to the support zone which was broken on the previous day. The expiry session was closed with a daily gain of 120 points with the formation of a bullish hammer type candle. The MHAF chart didn't confirm bullish reversal but displayed the weakness i

On 5th June Nifty ended the week in a consolidation mode but with bearish bias. Although the day started with optimism, from 23500 level came the selling pressure and towards the end of the session that brought down Nifty to close 23366. The MHAF chart confirmed this view with the formation of a red candle with upper wick but not too strong. However, on 8th June the same view was confirmed with a gap down opening in Nifty with 290 points. Interestingly, this immense bearish p

On 2nd June Nifty displayed a strong up move starting from the midday. Before this, the market opened with a huge gap down of about 150 points but started recovering from that very low level. The bullish move was well sustained throughout the day until the closing for the day with a net 100 points gain. However, today it seems the entire move was articulated for the weekly NSE expiry management because Nifty needed some more time to truly accommodate the sharp fall it witness

On 1st June receiving some positive clues from the global events Nifty tried to start the weekly move with a bullish push. After a gap up opening by more than 100 points it moved another 80 points upwards but failed to hold that momentum when FII selling pressure triggered. A constant selling domination persisted after that throughout the entire day and brought Nifty closer to 23350 before closing at 23382 for the trading session. The MHAF chart supported this bearish pressur

On Friday 29th May Nifty took a sudden reversal move towards the end of the day which indicated the first trend change for the new June series. After closing all the trades in the May series with a minor profit, we have been waiting for a new trend to appear which seemed to be the case on Friday. Nifty formed a strong bearish candle, closed near the low of the day and the MHAF candle also confirmed the reversal. The sell trigger for the day was calculated as 23701, however, i