Nifty is on the 1X2 line. This represents a resistance zone. Look at it as a zone and not as a line. Which means we give some leeway above and below the line. 45 degree sloping line above 1x2 is an important line.8787 and 8798 are the levels to watch.Today is the 8th candle from bottom.
Hello sir, I think with so many clues one should just go short now with a stop loss of 8800. Don't see a sudden strike up to the all time high so soon. Just a thought -:)
First my gratitude n thanks for such hard work ! sir since today last hour nifty broke the 1*2 line with lot of energy ....now if it crossed 8800 on spot can clean run to new highs in april becomes a high proability ??
It has not closed beyond that point yet.Today's movement was volatile.So it does not yet qualify for a high energy translation yet.Tomorrow if it opens gap up and polevaults above that point of 8787 AND sustains above that, then yes the bull has more legs.Other caution factors are daily indicators are becoming over bought and the uptrend has persisted for 8 days now.So we hold the longs but with heightened caution.
Sir, As stated on your earlier note, if this is Wave D, it has completed 23 days so far. If this leg should be Minimum 28 days to an Maximum 34 Days then we have another 5 to 11 days for this Wave D down wave to complete. I believe we are done with the high today and probably the downside should start. Can you confirm on whether the short can be initiated here? Thanks
Vetri, the key word in your post is ' I believe'. The wave count is a best possible probability.We still do not know yet.What if wave d had ended at 8269 and wave e had opened upwards? In a butterfly formation the central wave d can be short either in time or in magnitude.That is why I insist that let the market show the way.In the recent past we have had a 12 day extension of an upmove.So if that happens and we had short in anticipation, that would become a cause of tension.Let one day bar close below previous day low.Then keeping the nearby high as stop loss we can confidently go short.This is what I mean by ' Not anticipating'.We may lose the initial down move.But that is the cost we pay for safety.This is a lesson of 25 years of trading.
Yes Niftybaba, agree with you.If the market closes positively today then the weekly momentum would have turned up.That would indicate bigger upmoves.If it cuts below 8714 and closes, then we have a shorting scenario.Again, price must show its intention before we act.That is the cardinal rule.We can be wrong, but we cannot afford to be losing.
Sureshji the markets seems to be in advance stages of bull run.small cap world wide outperforming large caps huge underperformances in bank nifty .oil gas and metals outfermormances means shift in sectoral indexes .astro view for this week is the key as markets above 8800 are not favourable in risk reward terms.pl share astro view of last week big bull move and probability of moving up
Hello Sir , Thank u for ur reply .. i agree with nifty baba .. a more detailed astro will do more help coz technically ur previous levels still hold as resistance .. now if we can astrologically look at the proability of resistance holding or brking would be more helpfull ..Thank you again !!!
hello sir, we all agree a detailed astro view is necessary. with results around the corner we can go either way. its more likely to be down since its expected to be a low yielding Q4 but if its turns out to be better than expected it could go to test the all time high. regards
Friends, Iam not in my home station. Iam in a remote locality with limited internet access. I am trying to post a small analysis at least. I shall be back on 15th April and shall post a larger analysis then.
24 comments:
Thanks for the updates Suresh Ji… appreciate it…
Sir, what level on NS it will be at 1x2 line?
Nifty is on the 1X2 line. This represents a resistance zone. Look at it as a zone and not as a line. Which means we give some leeway above and below the line. 45 degree sloping line above 1x2 is an important line.8787 and 8798 are the levels to watch.Today is the 8th candle from bottom.
Remember, as per our trading strategy we are not short yet...Because we don`t anticipate..
Thanks for the update sir.
Daily chart should give more clarity.
Hello sir,
I think with so many clues one should just go short now with a stop loss of 8800.
Don't see a sudden strike up to the all time high so soon.
Just a thought -:)
Only one suggestion.Let the price action confirm before commiting money.
hello sir,
First my gratitude n thanks for such hard work ! sir since today last hour nifty broke the 1*2 line with lot of energy ....now if it crossed 8800 on spot can clean run to new highs in april becomes a high proability ??
It has not closed beyond that point yet.Today's movement was volatile.So it does not yet qualify for a high energy translation yet.Tomorrow if it opens gap up and polevaults above that point of 8787 AND sustains above that, then yes the bull has more legs.Other caution factors are daily indicators are becoming over bought and the uptrend has persisted for 8 days now.So we hold the longs but with heightened caution.
Typically on a powerful up move your advance decline ratio will be more positive.Today it was flat.So I would wait for more confirmation.
Sir how about a daily small message like today for new traders like us who are not yet sure about trading and are in a learning process.
Sir, As stated on your earlier note, if this is Wave D, it has completed 23 days so far. If this leg should be Minimum 28 days to an Maximum 34 Days then we have another 5 to 11 days for this Wave D down wave to complete. I believe we are done with the high today and probably the downside should start. Can you confirm on whether the short can be initiated here? Thanks
Sureshji should wait till 8717 low being breached with time filer as confirmation for the start of the short trade.
QuEeNhAvinA, shall try.At least during critical junctures I shall try to post.
Vetri, the key word in your post is ' I believe'. The wave count is a best possible probability.We still do not know yet.What if wave d had ended at 8269 and wave e had opened upwards? In a butterfly formation the central wave d can be short either in time or in magnitude.That is why I insist that let the market show the way.In the recent past we have had a 12 day extension of an upmove.So if that happens and we had short in anticipation, that would become a cause of tension.Let one day bar close below previous day low.Then keeping the nearby high as stop loss we can confidently go short.This is what I mean by ' Not anticipating'.We may lose the initial down move.But that is the cost we pay for safety.This is a lesson of 25 years of trading.
Yes Niftybaba, agree with you.If the market closes positively today then the weekly momentum would have turned up.That would indicate bigger upmoves.If it cuts below 8714 and closes, then we have a shorting scenario.Again, price must show its intention before we act.That is the cardinal rule.We can be wrong, but we cannot afford to be losing.
Lovely. Enjoyed your response. Thanks. Will await for the downward confirmation.
Sureshji the markets seems to be in advance stages of bull run.small cap world wide outperforming large caps huge underperformances in bank nifty .oil gas and metals outfermormances means shift in sectoral indexes .astro view for this week is the key as markets above 8800 are not favourable in risk reward terms.pl share astro view of last week big bull move and probability of moving up
Sureshji pl keep the detailed report for this week astro.
Hello Sir ,
Thank u for ur reply .. i agree with nifty baba .. a more detailed astro will do more help coz technically ur previous levels still hold as resistance .. now if we can astrologically look at the proability of resistance holding or brking would be more helpfull ..Thank you again !!!
hello sir,
we all agree a detailed astro view is necessary.
with results around the corner we can go either way.
its more likely to be down since its expected to be a low yielding Q4 but if its turns out to be better than expected it could go to test the all time high.
regards
Suresh ji , wating for your post pl send some inputs so we can relate to.
Friends, Iam not in my home station. Iam in a remote locality with limited internet access. I am trying to post a small analysis at least. I shall be back on 15th April and shall post a larger analysis then.
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