NIFTY - Looking Back In Time

Equity-Earningz Updated   
NSE:NIFTY   Nifty 50 Index
Just a small part form WD Gann's concepts.

Nifty fall by 53% in 2000-01, on the dot-com bubble burst.
After making a bottom in September 2001, nifty traded sideways until April 2003 before picking up and rallying to 6357, a new Real estate bubble.

So we were up by 5507 points in nifty form dot-com to real estate bubble.

It's not the bubble that I am interested in, but it's the Number 5507 Points.

We are up by 5512 Points till today's high form February 2016 lows.
It's all about WD Gann's concepts. I know the only price is not essential to catch the big top. Time is more important than price.

And I found not time matrix here. Just a one Number co-insides is 5507 +/- few points.

I am not forecasting a top or anything. I am just trading this thought of price wave. Which is very much in use, and works too.

But nothing works precisely every time, keeping that in mind I am purely trying my luck by shorting a couple of lots in nifty at 12330 with Stop loss above 12410

Target not decided yet. But I don't trade anything less then 1:5 RR.

Trade active:
Your thoughts and comments are welcome.
Trade active:
Nifty Made a high at 12430 in opening and fell 100 by 100 points. It was expected.

So Stop-loss is still intact because it wasn't even traded there for a few seconds at 9:15

And not expecting nifty to fall below 12000 by 23rd January, weekly expiry.
Selling the 12000 PE at 17 to reduce cost.
12000 PE expired at 0. I can say my entry is now 12330+17.

Stop-loss is 12410.

When you earn a premium by selling options don't raise your stop level. Stop-loss should be where it was not 12410+17.
The ideal target is 11700. But we have the budget upcoming on Saturday. So will observe how price behaves and will adjust according to that.

Closing trade with almost 400 Points profit in nifty and Risk to Reward ratio is close to 1:5.

Shorted at 12330+17 = 12347
Covering at 11955
392 points profit.

Not wanting to get caught by the budget volatility, the market will give us many more opportunities to trade safely.
Trade closed manually


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