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.
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Next support is at 10:30
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Strict TSL 9850 NS
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Please revere the trade and go short
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TSL: 9880 NS
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Set the TSL to 9900 NS and carry forward, now Nifty will emain down till 20th July
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Actually it was a short right at 9:34 when Nifty was going down after it. But my mind resisted...
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I dont think its going fown, sorry about the confusion, please reverse the position, Nifty will remain up till 20th.
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I dont think its going down from any angle. Please maintail TSL at 9850 NS and carry forward.
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Mon 17 Jul 2017 Nifty View
Hi All,
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.
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Set TSL to 9995 NS. Reverse the trade if it hits.
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Its 9895 MS ( typo)
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Next support is at 11:06. Nifty to remain sideways till then.
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Set the TSL to 9870 NS and wait patiently, no need to reverse now, critical time is over.
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I think it can remain slightly down till 14:33. One can either wait patiently or can exit here and go long again at 14:33
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Please carry forward.
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Tue 18 Jul 2017 Nifty View
Hi All,
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.
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Nifty is opening 83 points down. Time to add to your positions and fresh new buying. Turn date is 3 sessions away. Wait patiently.
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Nifty has been dragged down sollely by ITC, increased taxes on Cigerettes. Rest of the market is doing good. BankNifty is down only 20 points.
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So once 9:35 level was broken, it was a completely down day for Nifty.. Support is just before market closing. Please hold and carry forward.