shiv2798

Thinking out form Technical view , Will Nifty is trap ?

NSE:NIFTY   Nifty 50 Index
631 views
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631 12
I am just posting my view out form technical views , one have to take logical steps when market reaches at indecision levels
Expect the unexpected form Market , No text book is written for expecting the unexpected , So Keep thinking what will happen and keep trading
Whatever happens
Cheers
Comment: Opps , did you cover your shorts?
ha ha , then see after covering your shorts price will go down again ?? what ?? did i say Go down ?? oh my G O D !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Comment: did you miss me ? Humm, Come on its Part of stock Market , Up and down will be there ,
Now i am looking Reversal near 9627/9570 Zone
Lets see how it unfolds
Comment: Price did reversed near 9687 which is pretty near to my expectation , Now I am looking fake brake out at 10200 as planed before the actual trend take place ,
I am wondering how a small dedicated education can take a possible successive trades in stock market , and as days passes the accuracy increases , when I posted this chart no one would have thought NIFTY may not make more than 10200 even I felt a second am I writing what I know or what I believed, I believed my self and placed this chart , but after seeing the price movement and Economic news around now everyone have started to say that NIFTY will not make more than 10200 and may enter one more correction
Lots of winding of Open interest of 10500 and 10900 explains by week end closed yesterday
There is big Question to all of us ,
01) weather Price action do inform us in early period that the market will likely correct to these predictable levels ??
Answer is still being searched by every trader
Trading view software have increased my accuracy to an extensive level
I am thankful to them they have best platform ,
Lets see how the feature market unfolds
Cheers
Comment: as off now the price is following exactly same as per projections made , now i am looking the 10300 level if find the reversal then will consider the shorting opportunity
regards
Your Charts are wonderful. Can you recommend some study materials for me. Keep up the good work :)
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shiv2798 ArunkumarSubramanian
@ArunkumarSubramanian,
Thank Q , Wish you Happy Diwali & New Year ahead , Study materials are regular one what every one study , what is required is studying the correction , when stock or indices enter in to profit booking time then the correction becomes nasty and many try to trade it with out understanding weather the direction of correction is agreeing with their nature of trade or against the nature of trade they are taking , one can achieve this accuracy by way of studying the corrections and impulsive moves in regular manner , once again wish you Good luck in trading new years
Regards
Shivakumar
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what about your earlier view of 8800--8900??
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How come you are not long as of now?
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Cheers!
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Short covering might happen only if the opening range or days high is taken out
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shiv2798 Parasuram
@Parasuram, Yes , many people with many views , its possible , for me its still not convincing me that Nifty will go up
The individual stocks have not shown any stopping volume but the price is stopped felling , so i really doubt about immediate rally in Nifty and i am expecting further correction till 9570
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It's amazing that the low is touching your trap short area. Do you think tomorrow the Nifty will go long? I have SunTV and have suffered huge loss and still holding! Your views will be helpful. Thanks.
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shiv2798 angelrishi
@angelrishi, Sir Nifty can visit little lower then today low and can gear up for up ward , it may visit very few points to today low only to trap retail traders , regarding SUN TV i can not say anything as it may come back little or many not , but for sure two week its higher price was rejected and its 3 rd week it fall down ward , a small advise when selecting any stock , irrespective of the level you are buying , for 3 mints you spend time in order to understand current price level in relation to Monthly and weekly , and you will come to know immediately what should be your take profit if you are long or what should be take profit if you are short , the price action always visible in order to consider trade decision , if price action is week look for below , if price action is stable and strong look for up
Wish You Good luck for your feature trading
Regards
+2 Reply
angelrishi shiv2798
@shiv2798, Thanks so much for your views. I really appreciate the time you spent sharing the details with me. I switched the stock to 1 month and 1 week and came to know what you mean like double top, and other price action scenario etc.
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