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How to spot 1000 points profit in Nifty…??

Markets have been highly volatile and in this new regime a 1000 point move for the nifty has become commonplace in the past few weeks. The recent decline has been swift breaking every low that was formed in the past few sessions. Delivering a BUY call in such an uncertain environment was challenging, because post the unprecedented decline, the sentiment is shaken.

Meanwhile, We as analysts continue to advise our clients effectively by identifying the right trade setups and catching the direction of the trend on the NIFTY to near perfection and our clients have benefited from the same.

We have been consistently sharing this in our premium advisory productMarkets with Dr C K Narayan  

This is how we did it, we are reproducing our advise by sharing a transcript of the advice that was delivered to our clients.  

March 24, 2020  9:32 AM

Nifty declines to a new low. We continue to search for bottoms and we are searching those in price coming to supports. If there is a change in sentiment, will that cause a change in trend?

The decline has been sharp but is seen uncertain in a recent couple of days. They are not into a straight decline. There are a couple of good up moves too… Note how RSI has changed its direction. The trigger line used to be the resistance at every attempt of the rise and now this has become support. Here, the change in sentiment will lead to a change in trend. Expect some up move in Nifty, considering the recent declines, the move will be large enough.

Historical Presence of similar pattern March 24, 2020  1:55 PM

Looking back in history to find a similar pattern and the result after the same. We did not have to dig much for such an event. During the declines in late 2018, A similar movement in RSI was witnessed that has the highest correlation with the current RSI move. The result we all know that Nifty came back to new highs after some struggle in the intermediate.

March 25, 2020  12:50 PM

Yesterday, We observed a change in RSI movement and how the sentiment change is visible with a similar pattern seen in recent history too. Following the same and tracking the lower timeframe (Intraday – 30 Mins) charts, witnessing some bullish bias formation at present.

  1. The 30 mins chart is attached and the recent two bottoms are seen forming Divergence comparing with RSI.
  2. The DI line kiss at the exact neutral zone and trend in the DI+ line shows strength in the bullish direction.

March 26, 2020  2:50 PM

From the start, Nifty has recovered more than 600 points. Well, considering the decline, the advance looks nominal. But, some amount of stability/halt is seen. The intraday overhead resisting trendline breach happened yesterday with a strong close. Today’s gap up has continued above the intermediate first gap area and currently is consolidating above the same. Momentum readings are in line with the price action. RSI forming bae at 60 and DI+ line dominating above neutral shows continuation in the current recovery. Expect to touch 9000 levels.

Profits: A high to above 9000 was witnessed and there was our exit for clients.

References – The links to all the above posts are here:

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  • Opening Comments – Know what the market is saying, and gain from the wisdom of Dr. C K Narayan before start of the market everyday
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