So while in the early morning today (Monday 10th), SGX Nifty was 22 points down, Nifty gaped up, and continued its upward motion as per short term Timewave prediction!
It skipped the predicted times of 10:02 and 11:33 as at those times exchange was down. NSE faced major technical glitch today and the National Stock Exchange is totally tight lipped on what went wrong.
Next time for this upmove to end is around 10:00 AM tomorrow (Tue 11 Jul).
In the longer term I maintain the view that Nifty is down since 6th June. Today’s upmove and a breach of previous ATH is just a fad, and is NOT going to sustain. Anybody who thinks Nifty is going to touch 10000 soon will be trapped for 3 month!
(Please note that I use Timewave methodology to determine market direction which is a Vedic Astrology based technique.). This is the only technique which answers when exactly to go long and when exactly to go short , and that's what a trader needs!)
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We will short at 9:55 today for target 9460 by 20th july.
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Action: Please go short with stoploss at 9840 NS target 9460 Nifty Spot by 20th july.
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Shorted at 9809 Nifty Spot. :)
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Nifty to remain sideways till 1 O'clock....continue to hold.
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Remain short, dont exit. Today is the last day of this rise. In intraday terms its indeed extending the rise, but wont sustain.
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BankNifty is already at low point of the day, Nifty to follow suite.
HI will nifty go down 9500 atleast once this week. I had some 9500 9450 9400 puts bought on 30th June at high price and now its not event 1/4 of its value.
Shall i hold them little longer.
Will it go down. Please suggest.
pankajvw
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@devasiskrmahato, 9500 is very difficult, It will go upto 9600. may be you can exit at cost price once it reaches 9600.
Shall i hold them little longer.
Will it go down. Please suggest.