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NIFTY SPOT FORMING HEAD & SHOULDER PATTERN
Downside Target of the Patterns seems around 9755 spot...
Neck Line __10120 spot

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Update_Nifty Tank strategy1_ Buying call/put same strike 8750__put value made a high of 189. cover options in profit nw...
Bounce back expected upto 8670

Update_Nifty Tank strategy1_ Buying call/put same strike 8750__put value at 108.. call at 2.. cover options in profit nw...

Expiry_Sep-Nifty breach 8780 then 8840 around expiry vl settle out.. ----- IF ((8710)) on the downside breached 8600 around expiry will settle out..

Strategy 1_ Buy call & Put of same strike 8750===29+22.. Eitherside Breakout will give value of 100 plus..

2nd strategy___ Sell Put of 8900 @139. BUY CALL & PUT of same strike 8750===29+22.. SELL CALL of 8600 strike @ 154.. NET RECEICED_242...

MY CURRENT PORTFOLIO... HAVE A LOOK... UPDATED AS ON 1ST AUGUST ((CLOSING BASIS))

Dollar Rupee has almost completed target of 66.65 Spot levels. According to Dow Theory A-B= C-D that makes theory valid as_

A-67.76

B-66.95

C- Retracement of A_B=61.8% is 67.46

D-66.65 spot

Outlook

Technically, it is expected Dollar Rupee should get appreciate upto 67.46 levels to validate bullish inverted Head & shoulder pattern. As also we have FED meeting on 14-15 June next week.

Go short on Nifty around 8165 (zoom the snapshot for more clarity)
First Target is around 7875 & 7670 with safe stoploss of 8220

http://www.moneycontrol.com/news/market-outlook/markets-can-dealanything-butrate-hike_6719161.html

Markets can deal with anything but a rate hike: Ramesh Damani BSE member Ramesh Damani gives a thumbs-up to the steps enacted by the Modi government to take corruption head on. He, however, says the US Fed action on interest rates and Brexit are two key events to keep a close eye on in the near-term...

NIFTY UPDATE__Sell On any Counter Rally in the range of
7806--7833 for the downside target of 7670 with stoploss of 7880 Spot...

UPDATE_DOLLAR RUPEE @ 67.35 SPOT .... ROCKET ON FIRE... Already mentioned in 13 April Post... can check it out...

Dow Jones Update__
Forming Bearish Pattern on the Daily chart_ Closing below 17400 will confirm the same, crucial support @ 17256.. Head & shoulder pattern target seems at 16744....
Million Dollor Question if Dow Jones gonna slide.... What will Happen to Asian & European Markets... What About Nifty Then ...??