pankajvw
Long

Fri 24 Nov 2017 Nifty View

NSE:NIFTY   Nifty 50 Index
Hi All, Good Morning!

Had mentioned 11:58 yesterday, and exactly there, Nifty fell swiftly giving impression to many as if its turning down! But is that really the case? Absolutely NOT!

SGX Nifty is flat today morning, so sideways movement will continue for first 1-2 hours.

Short Term View:
Nifty and BN are up. TSL is 10290 NS and for BN its 25590. Its end I will communicate some 15 minutes in advance. Continue to hold long position with TSL mentioned.

Medium Term View:
Up till 5-6 Dec. TSL is same as ST ---> 10290 NS and for BN its 25590. For targets please refer the chart below, which shows retracement and projection from most recent higher low. As per this, ther are:
Target 1: 10722 NS
Target 2: 10994 NS

Current Position:
Long from 10340 NS .
Accumulated profits: 30 points.
Comment: Intraday only: Exit at 9:34. It will go sideways with downward bias for sometime before moving up again. ST and MT traders please ignore this.
Comment: Exited here with another 40 points gain. Will go long again later. By the way Nifty is above yesterday's high.
Comment: Going log again here at 10389
Comment: ^long
Comment: Shall start moving up from here on
Comment: [ST and Intraday\ : This short wave is ending at 12:26. Next one will start retracing this entire rise from yesterday's low. Lets exit at 12:26 and wait for next ST to end. MT traders plese just hold with patience.
Comment: Does not look like this ST retracement will be complete today, however if Nifty crosses day's high and BN crosses 25790, will go long and carry forward for Monday.
Comment: Going long again at 10392, this will now end only on Monday
Comment: In a bit of a sideways fashion, its making Higher Highs and Higher Lows. It may gap upon Monday. Please carry forward.
Comment: The postion carried forward from yesterday gave 40 points, second one was exited at no profit no loss. Third one was bought at 10392. - will exit this on Monday only.

So net net 80 points of profit since yesterday, with 1 long at 10392

Kindly give some lies, many thanks! See my discussion on long term Elliott wave tomorrow.
Comment: Sorry, yesterday was 30 points only, so net today is 70.

Nifty and BN both are closing in green!
10900 levels are not even remotely possible in this up leg.
Correction will set in after touching 10600.
Reply
on which time frame you are treading for this small moves/intraday.
Reply
pankajvw pradyjt28
@pradyjt28, I am trading intraday moves in the direction of short term. And short term is up.
Reply
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