Nifty medium term swing.......January 2015.

Tomorrow is settlement day for December 2014. Nifty is at 8267. Today though FIIs net sell in cash, they took longs in Index future. Means there is possible upside tomorrow.  But, markets poised at crucial levels again after correcting hugely in December.  Medium term correction will be there or not????
Here is clue.
Out of two scenarios one is market has to settle tomorrow at 8250-8300 or even 8360 (exaggeration) then nifty target for January will be at 8800 and correction.
The second one nifty settles at 8250-8200 and drifts further in the last week of December. Target will be 8020.
Which scenario is having more chances? Wait and watch tomorrow's settlement.

But here the major clue is, if nifty drifts immediately the possibility of getting support at 8020 is bleak and breaks this level for a target of 7020-7200... Possibility of this scenario is having more chances because of expanding wedge from 7020 to 8620 to be broken at 8020.
Else, nifty has to cross 8800 in January with a big bang for further euphoric run to 9200-9900-10200. Means breaking of expanding wedge to up side with out correction, may not possible.
So tomorrow's settlement will be crucial for determining the medium term direction. Hope for the best for one and all traders...What ever the situation the option  traders will get huge profits in  January also...

When the markets awaiting for considerable correction(medium term/3 months)?...!!!

Yes, markets run very big after starting its journey from Nifty 5118 because of elections. Now, charts are showing overbought situation. Nifty needs a correction. But, what about new major bull wave?
In the long term charts the bottom of bull wave may be Nifty 4535 and its confirmation was after it crossed 6335. Yes.

Then,  expecting Fibonacci re-tracement, the targets for Nifty will be 7447 (1.618%), 8135 (2%) and 9247(2.618%).

Based on short term swings the nifty targets will be 8453.
Considering both the opinions  nifty may retrace from 8135 or 8453.
If we assume the final target for I wave in new bull wave Nifty 9247, lower levels for the medium term correction should be up to 7100-6800.
So, expecting a cautious view at 8135-8453 levels..

This is not exactly on technical theories, because I may not know all the technical theories... It is my view on Nifty.

 If we see nifty at 7000 before it reached  9250 then we may happily go for delivery based investments targeting higher levels. So next week nifty has to be in green.

May mania in Indian Stock Market-2014.

If tomorrow no negative in first hour markets run afresh to new highs. Else, negative, the targets for nifty down side is 6400 approximately. The time period may be 10 days.  If, in any case, nifty reaches this target before election results day there is a chance of speed run of 900 to 1000 points within a couple of weeks.  Let us see what happens in ticker screen......

Nifty in December 2014....????

This is just a calculation.
The nifty made a low in December 2011 and then it started upward journey.
Generally the lowest of low with highest of high will match the month with 1 year or 2 years, etc.
If that is okay for this time the high to be reached  by NIFTY will be 8000+/- 100 in December 2014. OKAY.
How to confirm this trend and get profits from this raise?.
The Nifty has to cross the range of 6300-6500 with a big bang.(But where is the news???)
Wait for this bang then one can have certain belief for this target.