SGX Nifty is 10.5 points up as of writing. Fibonacci wise, 9970 is the target.
Time wise 9:34 is an important time today , which is likely to provide support and push prices further up. Next possible end time I will communicate as we go along.
We are currently holding a long position bough at 9878 with stop-loss at 9850 NS .
SGX Nifty is up 40 points so a gap is on the way. Revised TSL for the current position is 9860 NS.
9:24 is a critical time, where I will again revise the TSL upward and reverse the trade if it gets hit.
@tradewise: Why we exited the trade on Friday and then reversed it saying that it was a mistake has to do with my intraday waves. My calculated support was at 10:35, but Nifty was going down after that, so I called for exit. But Nifty within half an hour again came up and started going above level of 10:35., so I had to reverse.
The above was not a mistake, this is as per methodology. Mistake happened at 9:34, I should have reversed the trade just after 9:34 when Nifty was going down, and then should have again reversed when Nifty was going up after 10:35 level, thus booking profits at both the places.
Today at 9:35 is the support which if Nifty breaks we can see a down day.
Overall the turn date is Thursday 20th July, 3 sessions to go. Nifty will see a level of 10000 and BankNifty 24200 around. After that we are in a retracement mode again.