Nifty Spot

Updated

So we may have gotten the Bounce BUT we are NOT OUT of the WOODS yet. Please look carefully and RESPECT a CERTAIN FIGURE/%. the 78.6% of the Rise and the 23.6% Retracement of the ENTIRE WAVE are sitting exactly together at 23912-13. Should the market want to move higher, it must 1st Breach above this.... then sustain ... and finally Climb higher in 5 waves to complete wave 1 hourly. So CAUTIOUS is the word now. In the RED ARROWS I have shown you all that the market may hit a BLOCK at 23913 and fall Lower , so study the chart carefully and stay Alert

Trade active

NF staying below 23778 and breaking below 23751-40 range.... New Lows for the day

Trade closed: target reached

Cover shorts

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sell below 749... sl 762

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Keep selling upto 23765-80 zone... sl 12 points above

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There is an ANAMOLY between NS n NF regarding the Retracement.... this has been happening since the last 2 days..... Ns retraced 67% to the upside while NF has done just 57%..... so be careful

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NS done 73.6% and NF 67.8%..... can break now ... OR both will touch 100% and then fall

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Sell NF heavily at 23850 +_.... and a breach of 23843..... will give you good shorts

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ur SL must be above 23880

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Downside confirmed below 23818-811 zone for 23705 and below

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Both done 78.6% now... above this high goes to 100%... staying below this high... a FALL will start

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Breaking below and staying below 23855..... High confirmed

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100% retracement on NF is at 23901

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Keep your Shorts.... target 23656....45 range...... below which 23455

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There is a 10% ANAMOLY between NS n NF..... at NS did 99.20%..... at high NF did 90.75%

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NF needs to break and stay below 23850..... below which 23797-23810

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Something is NOT RIGHT. The Retracement percentages between NS n NF are completely different.... This is called an Inter MArket Divergence

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Get out of your shorts and sit..... Something is not correct

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Go Long... with a 32 point SL

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NF is highly unlikely to break below 23772-23745 zone for NOw.

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STAY LONG on NF

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Target is 24003-24100

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1st signs of Strength is holding 23790 on NF and moving past 23830

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Move your SL to just below 23770 as soon as NF sustains 23830

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There is just 1 small thing that bothers Me. Both NS n NF retraced 45.2%.... this retracement with all due respects is nothing at all.... u either do 38.6 or 50%.... that 50% is at 23772 on NF. NF now needs to hold 23790-805 zone to climb higher

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Correction above... needs to hold 23796 - 23770 zone

deepgups

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