Fri 21 Apr 2017 Nifty View

Fri 21 Apr 2017 Nifty View

Good Morning Folks!

SGX Nifty is up almost 18 points and Nifty is moving as per calculations.

We exited because even after 1.5 days the move was sluggish, Nifty was dancing around our entry level.

Profits so far are 107 points + 8 points yesterday = 115 points

Today this TD1 (=upward short wave) will end at 10:24 and we will short there. This TD1 retraced the previous TD2(= downward short wave),  and the next TD2 will make a fresh new low below 9067 NS on Monday. Monday is also a turn date.

Comment:

Once again, nifty proves the theory: "Slow at the start, rapid at the very end."

Comment:

As we are approaching expiry next week, and we will have to carry forward this position over the weekend, please buy only deep in money put options at 10:24.
In other options, especially OTMs, premium will erode leading to loss. Thanks!

Comment:

Action: Going short at 9152 NS, TSL 9185 NS. It could once agaib be "Slow at the start, and rapid at the very end."

Comment:

This may end at 14:16 around, please wait for confirmation. Thanks!

Comment:

Nifty now below 9100. Sp when one short wave does not give profits, the next one does make up for it.

Comment:

Action: At 14:16, please book profits and go long for next bullish short wave. This one is ending here. 60 points of profit already!

Comment:

And maintail TSL at 9060 NS for the long position and carry it forward.

Comment:

Please carry forward, this will end only on Monday. It may be a gap up opening on Monday.