So what are the components of today's chart ? We got,
(i) - The Gladiator
(iv) Trendline in
We have the & completion in our 8500's (approx.) so if patterns behave as they ideally behave Nifty may rise up till 8680's. But we should note that, for past 2-3 weeks we had approx.3 pattern failures only, so we should take steps carefully bcos we can't win everytime or 95%.
In the same pattern completion zone we have a trendline passing through which is tested 4 times and Nifty moved up. I remember GBPUSD which I did yesterday night, similar to Nifty , it retested 3 times & 4th time when I entered long it failed. Usually Newbie's will kick themselves and scold their luck, No Guys.. It Just happens,part of trading Game. None does something willfully against you knowing your strategy !
But I expect today we may have calm day kinda ranging bcos silence after the storm. Let's See... If the Nifty goes down plan your trades accordingly, I just gave my view based on Patterns n Elliott's ( oh God ! I forgot to explain ). Its simple wave count we have done with imaginary moves for Nifty but if you want to alter counts you can start at Point (A) of , that count is also correct. So based on patterns,Elliots, Trendline we expect upmove in Nifty till resistance but we will find out soon what happens... I may be wrong or right in My view !
BottomLine : Usually Newbie's will kick themselves and scold their luck, No Guys.. It Just happens,part of trading Game. None does something willfully against you knowing your strategy or to takeout your stops ! Its all our absurd imagination... Stay Strong in Trading Game. It's all psychology !
When the whole world panicked & said short, we initiated longs...
Thats why always I suggest, stick to your trading plan with utmost discipline even if the world is against you ! True Valour...