I always suggest to every trader - look left & trade right. Zone 8767-8770 was previous hurdles -which could become the key for the lock allowing Nifty to move up & kiss the channel resistance zone 8820-8830 as per earlier report mentioned below.
Regards, Abhishek H. Singh, CMT
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12:50 Hrs 4th Oct2016
Trading@8752 Bounced from the zone 8740-8745. Likely we should wait till RBI policy is out at 2:30 pm otherwise -you will be chopped
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14:22 Hrs 4th Oct2016 - As usual -Before RBI Policy -Market Becomes volatile so likely I said -we should & watch. One thing to be noticed Nifty yet again turned from 8766 levels -repeated 3 times now. Going above 8770 -Likely this time -we should sail through upside, but be careful to put strict stop loss in a day's low- after all trading in the markets is risky.
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14:36 Hrs 4th Oct2016
Trading@8765
Policy is out
Do not panic & over trade -put stop at day's low 8735-8740 Trade for 8800-8820 - or if you can hold with 8700 stops. Likely I will come back
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14:57 Hrs 4th Oct2016
Trading@8764
Have Patience All- Do not panic as said earlier - if it falls to 8740-8750 still looks good - some one who wants to take long position -can take post falling to 8740-8750 zone & later bouncing back above 8770 for targets 8800-8820
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15:14 Hrs 4th Oct2016
Trading@8772
Bang On Target -We Picked Nifty Again at the Bottom@8750.85
Only Bad News -Market is about to close.
Comments
sakesh1858
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i think 5 wave upmove completed once nifty make days low again that will be the conformation of retarcement
WaveTalks
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I need to check or it could be A-B-C from lows@8555.- 5th wave of C-yet to go -which will likely kiss 8800-8820
sachin.salve87
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I believe it's a wait & watch time until we get confirmation on rate cut by RBI.
WaveTalks
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Yes, That will be the correct strategy. Post RBI Policy -is good to take any trades
WaveTalks
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One colleague nirav confirmed that RBI policy is at 2:30 pm- have they changed the time from 11 am to 2:30 pm