NSE:NIFTY   Nifty 50 Index
179 8
As per me there is one more wave left which can go near 9500

9500 will be around 50 % projection of the wave between 1 to 3

but since getting an exact point to short is an arduous task even to the experts,

i will prefer the option route to short

i will start shorting june 9500 puts when nifty spot goes above 9460 to 9470

i prefer June series since the trading days in May is less
but anyways your strategy is good though
joel-vg KumarAbhilash
@KumarAbhilash, thanks. Market is supreme
@joel-vg, yes
yes it can be good strategy but one should watch tomorrow opening and closing as if market opens gap down and doesn't retrace that gap within and closes in minus , we might see a correction. and that might be a very good point to either enter short position in put or a buy in nifty as i expect nifty to go higher .
joel-vg KumarAbhilash
thanks sir for your view. i only analyze rather than actual trading (i am an amateur though)
presently i am only looking @ point to short
i may ignore if there is any buying opportunity for now (less risky trader)
if nifty goes below 9382 - i will think that the above wave count is wrong.
can you please suggest an alternate wave count for the above chart ?
@joel-vg, m not a wave trader m so sorry abhishek cmt can help u in that he is a pure wave trader and i should say master. i trade only trend.
joel-vg KumarAbhilash
@KumarAbhilash, yes. I do read his views and I am impressed. Drawback with wave theory is that many times waves are imperfect. And we have to accept the fact. No technicals can work as a holy grail and nothing is perfect. It is the trading methodology;proper entry ; exit & stoploss which helps the trader
@joel-vg, agreed
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