Now Nifty is down till 2nd Feb.
Targets as per Fibonacci are 8591, 8559 and 8541.
Its a retracement kind of a move (and not impulsive). Lets take whatever it gives and enjoy!
Short only if you see 8650 NS, otherwise skip this trade.
Those who are already short shall hold with TSL.
Follow me for huge profits and true happiness!
how to trade ? take option PE with what strike rate? please share some thoughts on this, also it would be nice if you update trade strategy on telegram along with timewave post.
Yrade using atleast 300 points deep in money option, 400 points deep in money is preferable. For example, today Nifty is at 8561 and lets say we want to go short. Then buy 8900 PE. If we want to go long buy 8200 CE. Advantage of doing this is that these deep ITM options work mostly like future, they have same amount of premium as future has, and still require less money to trade than future. And as premium component is less, risk of premium decay is also less. Also, when we buy deep in money options we buy less quantity in same capital than we would have nought OTM. So money management works automatically.
Sure will add this to Telegram going forward.
Those who don't know about my Telegram channel, please search for 'timingnifty' in your telegram app, and add yourself to it. Also, you can visi my blog timingnifty.wordpress.com