Good Morning Guys! So the turn date has arrived. Today at around 10:30, Nifty will complete its downward time cycle which it started on 13th Jan, and will be upward till 24th Jan at least. Nifty from 13th Jan did not do much in terms of price retracement, it was just a time correction. In such markets OTMs loose money, and that’s why I advise against them. Yesterday morning looking at SGX Nifty it appeared as if Nifty will bypass today’s turn date, but Nifty did take a dip after the opening. Levels to be achieved by 24th Jan will be shared tomorrow. But looking at current bullishness, 200 points shall be easy.
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Just go long.
Order cancelled
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Guys, I am somewhere confused in my inttraday and shortterm fractals today. If in case you have taken position on my advise, please close it. I will update you later, thanks!
I am very much sure that Index management is going on. Despite good news market goes down, and on bad news it goes up.
NrupenM
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Pankaj Brother,
You are kind of taking loss too seriously, I never met a single trader who have been right all the times. You are very good with your method of time calculation, but you have to accept all calculations are just probabilities and they can go wrong sometimes. Do not panic, our job in stock market is not to be right all the times, it is making lot of profit when we are right (which you did) and avoid big losses when we are wrong (which you did right now).
There is practically no problems with your calculation, sometimes market is not supposed to respond as per our calculation.
SaurabhMehra
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@Nrupen, true ... that's why instead of doubting the method I always ask for how @pankajvw does it. Sometimes working in isolation we tend to overlook things but together we can help each other and make the system a better one.
NrupenM
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@SaurabhMehra, Pankaj's method is more of high level applied mathematics based, I think so because as per his website he applies Gravitational Wave on Fibonacci sequence on Elliot Wave theory. Personally I prefer Application of Golden Ratio On Price Shift on Price Cycle Theory. And by applying Fibonacci I can also find good buy signals in different time frames for example take a look on this chart, It does provides time frames but I do not trust time cycles after 2 cycles.
Nar
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@Nrupen, All this is extremely interesting theoretically, but I am sure the probability of correctness is as good or bad as any type of technical analysis. If one method could provide solutions then everyone would be millionaires. It is impossible to time the market and it is prudent to get out with tight stops when you are wrong.
pankajvw
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@Nar, Even flying was impossible till Wright brothers made it possible.
Nar
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@pankajvw, yes Pankaj, will wait for you to create the next airplane I can fly in. ;) I am more of the flying kind.
NrupenM
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@Nar, The people who become millionaires are those who take time to master their skills and invest or trade with strict discipline. William O Neil, Jack Dreyfus, Nicolas Darvas, J M Hurst are just few names who took time to master their method of investing and right now are millionaires. Timing with help of probability is possible, 100% accurate timing is not possible. And yes there are traders who have achieved above 90% accuracy in timing it, William Delbert Gann is known as trader with highest percentage of successful trades, he is better known for his method The Square Of Nine.
Nar
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@Nrupen, yes well said but these people are like geniuses in any given field. Kind of comparing us with likes of Sachin! but I agree with your thought process.
vanathi
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From 27th dec to Jan 12th you gained 375 points. As per your logic(time wave) 13th is the day for trend change. 13th high, low is not broken yet. Till now Nifty is sideways. There is nothing to get confused.
Just have to avoid trading few days when the trend is not formed. No trend, no trade.