joel-vg
Short

SHORT NIFTY WHEN NIFTY COMPLETES WAVE 5 ELLIOTT WAVE PATTERN

NSE:NIFTY   Nifty 50 Index
277 7 4
Start accumulating May 9500 puts when nifty             spot reaches 9460 and keep adding lots every 10 points thereafter
Comment:
i agree ur analysis thanks for reply
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Agree!!
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ur analysis great
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what is downside target of nifty n stoploss
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joel-vg VimalVashisth
@VimalVashisth, Vimal as of now I believe the pattern we had today was wave C. If we are going to have wave 5 : it will go near to 9500. And will get a chance to enter the shorting trade. However I advise you to take June puts rather than may puts. Start accumulating puts only near 9470. Do not buy all at a time . Wave 5 can even go above 9500 but not above 9550.target should be bigger than wave 2 and wave 4 combined together
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good one but... triangles never comes in wave 2
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joel-vg Gopal_Dhamija
@Gopal_Dhamija,
thanks for the comment
as for the triangles - i tried to fit in the best - if you have any other pattern please do tell
in the book by Ramki - chapter triangles he says
"-it is possible for a horizontal triangle to occur in any correction. My own experience tends to lean in that direction"
however i will be happy if you can enlighten me with your alternative pattern
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