NIFTY BOUNCE ABOVE 9701 AND DID OUR TARGET.

 

 

TRADING ABOVE 9720 CAN SEE MORE RALLY.

 

 

BEARISH BELOW 9650NS ONLY.

The First Story of Guru Purnima

Long time ago, there were four elderly men who were seeking answers. The first one was miserable and he wanted to know how to get out of his misery. The second one wanted more progress and success, and wanted to know how to get that. The third one wanted to know the meaning of life. And the fourth one had all the knowledge but still he lacked something, and he did not know what that was.

So these four people were wandering for answers and they all landed up in one place where there was a Banyan tree. Under the Banyan tree, a young man was seated with a big smile on his face, and suddenly all of them thought that this person could give us the answer. The same thought came to all of them from within that this person is going to solve my problems, and so all four of them sat there and they got their answers. The young man who was sitting under the Banyan tree with a smile did not say a word, yet all of them got what they wanted.

This is the first story of Guru Purnima. That was a full moon day, and that is how the Guru Parampara (lineage of the Guru order) started. All these four elderly people became Gurus.

They all got what they wanted:

1. Misery was gone
2. Abundance and happiness arrived
3. The seeking stopped
4. The knowledgeable one got a Guru to express himself

That fourth man had everything, he had all the knowledge but he did not have a Guru to connect to. So the inner connection to the Guru happened. That’s why Adi Shankaracharya said, “Mouna Vyakhya prakatitha, para, Brahma thathwam yuvanam”. (Meaning: I praise and salute Dakshinamurthy (The first Guru), who explains the true nature of the supreme Brahman through his state of silence).

Symbolism of the story

In the story, the teacher is young because the spirit is always young, whereas the students are old. There are so many similes associated with this. Seeking makes you old. Seeking for the world, or for liberation, or for anything, makes you old. So the disciples were old, and the Master was young.

What is the symbolism of the Banyan tree? A Banyan tree grows on its own. It does not need anybody’s care or protection. If the seed of a Banyan tree gets inside the crack of a stone, where there is not much water, it will grow there also. All it needs is a little mud and very little water. Sometimes it does not need even that. And a Banyan tree gives oxygen all the time. This is one tree that gives oxygen 24 hours. So the Banyan tree which only gives, symbolizes the Guru Principle.

Guru means the one who removes darkness, misery, loneliness, lack, and brings abundance, because lack is only in the mind. So the Guru removes the lack and brings freedom.

 

 

HOLDING 9630 WILL BOUNCE ABOVE 9701.

 

 

BEARISH BELOW 9620 FOR 9580NS.

 

NIFTY PREDICTION FOR 07072017

 

 

ABOVE 9650 CAN SEE 9672-9690.

 

BREAKOUT ABOVE 9698 CAN SEE 9730-9750NS.

 

BEARISH BELOW 9611 ONLY

NIFTY PREDICTION FOR 06072017

 

INTRADAY:

 

BUY ABOVE 9630NS FOR 9650-9690NS.

SELL BELOW 9603NS FOR 9580-9560NS.

NIFTY PREDICTION FOR 05072017

 

 

 

 

RESISTANCE  NOW 9650-9670NS.

SUPPORT NOW 9600-9560NS.

 

HOLDING 9480NS CAN SEE 9580-9603-9630.

BEARISH BELOW 9480NS.

BANK NIFTY HOLDING 23130 CAN SEE 23290-23330-23400.

BEARISH BELOW 23100.

NIFTY PREDICTION FOR 03072017

 

 

A Super cycle, in Elliott Wave terms, lasts about 70-80 years. This is also about 1 degree of the Earth’s 25,920-year Precession cycle: https://en.wikipedia.org/wiki/Precession, and the length of a 4-generation full Saeculum cycle: https://en.wikipedia.org/wiki/Strauss%E2%80%93Howe_generational_theory. In modern times, all three of these cycles last about the length of one lifetime. What this implies is that the Earth, the human collective, and its economic cycles all move in unison over long periods of time.

The Saeculum cycle subdivides into four secular/generational cycles: growth, protest, unraveling, and crisis. The Super cycle subdivides into five Cycle waves, i.e. 1937-1942-1973-1974-2007. In modern times, using quantitative Elliott waves, it is quite easy to observe how these two cycles relate to each other during 1 degree of the Precession cycle. When the synchronization of the planet, it’s inhabitants, and their output is observed, it removes a lot of doubt, and provides a lot of important information.

We continue to label, as we have for a number of years now, the 2009 SPX 667 low as the end of the Great Recession and Super cycle 2. At that point the 70-80 year Super cycle 3 began. The first bull market after that low lasted until 2015 when the SPX reached 2135. That high is labeled Primary I of Cycle wave 1. The bear market that followed into early 2016 reached a low of SPX 1810, and we labeled it Primary wave II. Primary III started at that low.

Since Primary III’s tend to be quite long in duration (see monthly chart above). We have started the labeling of the quantified medium term trends, during this bull market, expecting it to end with a Major wave 1 high. Thus far, Intermediate waves i and ii ended in the spring of 2016. Minor waves 1 and 2, of Int. iii, ended in the fall of 2016. Minor waves 3 and 4 ended in the spring of 2017. And Minor wave 5, completing Int. iii, probably ended this month at SPX 2454. After an Int. iv correction the market should then rise to all-time new highs during Int. wave v. We have been estimating a Major wave 1 high at SPX 3000+ between the years 2018 and 2020.

MEDIUM TERM: uptrend topped?

The Minor wave 5 uptrend, from the mid-April Minor 4 low at SPX 2329, appears to have ended in mid-June at SPX 2454. We have been counting five Minute waves up: 2406-2353-2446-2419-2454, along with a series of RSI/MACD negative divergences on daily and some weekly timeframes. This completed uptrend should end a five wave formation from the June 2016 SPX 1992 low, to complete Intermediate wave iii of this bull market.

When the downtrend is confirmed we should then start looking for an Int. wave iv low. Cycles suggest a correction low sometime in September. If this is correct there should be a lot of choppy activity between now and then. The wave pattern for Int. iii suggests initial support should appear around the Minor 4 April lows, i.e. the OEW 2321 pivot. Should that fail to hold, the next support is around the February lows, i.e the OEW 2270 and 2286 pivots.

When reviewing the NDX/NAZ, which have been leading the general market lower. We find that their Intermediate wave ii low occurred in November 2016 at their weekly 34EMA, with an oversold RSI. Should their Int. iv follow the same pattern its low should hit the weekly 34EMA.

That level is currently around the mid-April lows as well. Which also happens to be around the level of two fourth waves of a lesser degree that somewhat formed a double bottom. Medium SPX support is at the 2411 and 2385 pivots, with resistance at the 2428 and 2444 pivots.

SHORT TERM

As noted earlier Minor 5 unfolded in five Minute waves: 2406-2353-2446-2419-2454. On the smallest timeframe we track: Minute i was 9-waves, Minute iii was 5-waves, and Minute v was just 1-wave. This week’s decline dropped below the Minute iv low at SPX 2419, and touched the Minute i high at 2406. This clearly suggests the 5-wave uptrend pattern has completed.

After the SPX 2454 Int. iii high we have observed a decline of overlapping waves on both timeframes: 2431-2450-2419-2443-2406-2433. This is typical correction activity. Notice how the lower highs are creating resistance levels as the decline unfolds. Also of note, the first significant decline found support at the SPX 2419 Minute iv low. The next decline found support at the SPX 2406 Minute i high. Support for the next decline would appear to be the SPX 2353 Minute ii low. Short term support is at the 2411 and 2385 pivots, with resistance at the 2428 and 2444 pivots. Short term momentum ended the week just below neutral.