Z WAVE BEGINS IN NIFTY

Jan 20, 2017

ELLIOTT wave counting if carefully labelling,both time and magnitude can be determined.
the above chart explains clearly that final Z wave begins.
this is a 5wave impulsive move which should be always equal both time and magnitude of W wave
which falls near 8005 on 20th of march(26 business days)
Hence what is the trading idea?
swing traders can take a feb contract and relax up to 8005.
option traders can buy plain vanilla PUTs 8300,8200 feb expiry
day traders can cover their shorts at the end of (1) 8235 and(3)8005. remember the (2)8415 and(4)8288 are swift, don't trade against the trend

happy trading ....february is ours....

Feel free to ask...

B.SELVAM,B.E,PGDBA.,
TECHNICAL TRADERS
COIMBATORE.641001
9842211110

Jan 21, 2017

Note

this is for your education purpose.
before commenting a financial event to unknown viewers an expert must do more and more homework,analysing the psychology of traders,events,results,political news.publishing more ideas and getting more score doesn't helpfull in my view.a trader must protect his capital for the survival into the market. some people do trading for their daily bread,some make money and loose next day.
nobody can dictate the market but how fund managers and institutional investors make money?

Jan 21, 2017

Note

because they are not day traders,remember the movement of nifty day on 9/11/2016 . nearly 475 point swing throws the traders out of market.
Basic trading has three events.
1. buying at low level(support level,panic gap down,)
2.creating news,brokers recommendations ,asking more to buy,technical tools shows buying signals makes the stock to go high
3.profit booking by smart investors when everybody looks for buying
cycle repeats

Jan 21, 2017

Note

elliott wave clearly describes these events in wave form.it is very simple. Based on human psychology . Fits all type,all markets where buy and sell hapens

Jan 23, 2017

Note

again shorting opportunity for day traders 8400 SL(spot)

Jan 23, 2017

Note

Today nifty will complete its 1st wave at 8317/8319
keep your shorts if nifty close below this

Feb 1, 2017

Note

Z wave will start from 8736 if this level not able to close on daily basis