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...
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?
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
keep your shorts if nifty close below this