Two days ago I told you clear and clear that there is "No help for nifty". Last today I am updating for nifty "Don't take long position in nifty because there is still no any sign for positive"
I think that we will see here a false breakdown, therefore be careful about long side till.
You need patience for the downfall.
This the close updated NIFTY:
Below link has complete story of NIFTY from 2000 to 2020 in divided in 4 charts.
Comment
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Intraday achieved our mentioned level as 11175. its was shocking. i have mentioned in many comment that chart level is 11176
There are two aspects to the current downfall; one is the technicals as is evident from the charts so beautifully placed by you and second, the corona virus fears impacting the market sentiment. Here of course we are more concerned with the technicals. The fall can overshoot the channel downwards as has happened twice earlier. The overshoot can be anything from 500-1500 points. With another two months minimum for the sentiment to continue, the levels that can be seen are 10600- 10100- 9100. The corona virus problem hopefully by that time would have fully developed and the situation would have become clearer as was the case in 2008!
Trade-Technique
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@sanketsudan, I am sorry for this controversial message.
THIS MESSAGE AND DATA was still valid: Feb 6, 2020
More than 25,000 people have been infected across the world because of this coronavirus. More than 50 million people are quarantined in China and Australia and Singapore have banned Chinese travelers. Just how serious and dangerous is this new strain of coronavirus? Especially the 2019-nCoV strain. The mortality rate is approximately 2% and the incubation period of the coronavirus is between 2 to 11 days. (length of time before symptoms appear and the time of infection). I explain the relationship between mortality and contagiousness -ness in.
Compare to past all other viruses, this is not a much dangerous virus.
You might be right about this virus because investors sentiment can effect it.
sanketsudan
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@Kinnari_Prajapati, You are absolutely right. What has created panic is the infections in USA and Europe. Panic is a state of mind, hence the resultant situation. As someone commented that more people die of flu than what the corona virus has done! I am sure world has much saner people than what we can imagine. But fact remains that you yourself are predicting certain levels till July 2020. We are here to make money, if we can foresee what lie ahead our job becomes that much easier. Thanks for your response. I appreciate it!
Trade-Technique
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@sanketsudan, Very fantastic comment. We must grab the opportunity to earn. I am sure that nowadays rumors important for trading. Your statement is 100% true " We are here to make money".
rramkumar
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What is your view on buying PUTs? Is it too late?
nickroy
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can we still short on these levels
Trade-Technique
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@nickroy, Honestly, I don't prefer to trade in the middle of a trend neither want to trade from below/above. Better to keep away your self until any confirmation.
cineraja
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Thank you very much for your update and hard work for us. Nifty dont know where to go. Simply following you lol
Trade-Technique
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@cineraja, till there is not good sign from anywhere over the nifty. just check out my weekly update chart for nifty.
Zeeshann
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Please let us know if you find any stock worth investing in this weak market. They can be outperformers in next bull market