Hey Guys, Note - this is not single day post, Refer this for coming days probably next 3-5 days. It will be valid for 3-5 days.Wednesday(Nov 9) being vital here.
We are looking at 3 vital zones for Nifty (i)8470's zone (ii) 8550's zone (iii) The zone in-between. Now lets explore each zone & what it says about our Nifty !
(i) 8470's zone : Nifty will test n tease us many times near this zone today. With every retest bounce back few points up, may even complete our first half of to reach 8500's-8520's. Incase of Nifty breaking this zone with swift move today or Monday (include Tuesday too), it opens up few other interesting scenes with US news events. If it happens today Superb ! I will explain the scenes later after 8470 is taken away bcos its like pandora box, lets not open now.
(ii) 8550's zone : The next important zone which is above Nifty & act as immediate resistance for upside potential in short-term.There can be other patterns forming to reach this 8550's if we some action in next 2-3 trading days. Here also News acts as big trigger depending on euphoria surrounding the markets 8600 Gap will be filled. Why ?? Bcos we know our Gap theory, atleast for past 6 months I explained it quite often.
(iii) In-Between zone (8470's - 8550's) : One word - Range ! So scalp as much as you can if you want to else take a day off enjoy your life,watch a movie, Go around the city. This zone is direction-less & clue-less region like our human lives trapped on surface of earth which is between Sky & under-ground. We roam around directionless searching something, same-way Nifty will be running around in this zone (8470's-8550's) without any proper direction.
We have completion also, probably will act as gap filler of 8600's - I don't know ! But what I know for sure is we have analyzed pretty much everything for Next 2-3 days and what Nifty will do based on various scenario's. Depending on those check back with your own analysis & Decide to trade or scalp. Few get confused in curiosity of Learning, that they combine every strategy with everything available - don't do so ! Keep things separate & clear, it will help you to get better understanding,Don't combine every strategy available.
We know Sell the News, Buy the Fact statement. We have witnessed it in one of my earlier posts few months back but I forgot the post name. But I prefer to make My stand clear - " News is Noise, charts will show us whats coming Next except rarest scenario's"
Nifty Test Match is ready to Test Our Patience !