My teacher once told me, Gap ups or down must be taken seriously. Imagine the nifty as a particle and in the price path it went missing, giving no clue how it reached there or how it was about to reach there. At that particular price levels we don’t know how many buyers-sellers and who all are stuck. May be they will not accept the loss so easily when they were not given any chance to recognize the trend early and wind up their position. They will definitely react.
I see Gap ups or Downs are like Black Hole, which you use as a gateway to enter a completely new world and come back, but the particle in-order to survive or pass through must have a good velocity (NIFTY – PREFERABLY ABOVE 0.13%) at the event horizon or else it will leave the gap unfilled and retry to fill it again.
We can see a gap down of almost 65 points at 11030 level and Nifty trading near to that but while approaching even the second time it lacked the velocity. Surprisingly at 10849 levels there is a gap up of 30 points creating an assuring conditional probability for Nifty to reach there before going for an upward voyage. Almost everyone is bearish on 5 to 15 Minutes Chart but believe me you need to wait till TOM 9:40 A.M before being too sure about the movement or taking position.
Time retracements of the previous low to low have already indicated the reversal at 15:10 P.M (Friday). And the low to high indicates a reversal at 9:40 A.M (Monday). And if this works out right then the low is expected to be created on the next day, which would be reversal point as well. And this fall would determine when would be the next move for the upward gap. A gap down would make the assumptions more accurate.
If the market open with a gap up above 10965 then the computation would be quite less as we can go for short at a first reversal sign with the high of previous candle as stop-loss.
Time plots are in different colour for better understanding. Dotted lines are the predicted time for reversal of trend, where 0 & 1 is user defined and the above numbers are predicted referring a particular wave.
I see Gap ups or Downs are like Black Hole, which you use as a gateway to enter a completely new world and come back, but the particle in-order to survive or pass through must have a good velocity (NIFTY – PREFERABLY ABOVE 0.13%) at the event horizon or else it will leave the gap unfilled and retry to fill it again.
We can see a gap down of almost 65 points at 11030 level and Nifty trading near to that but while approaching even the second time it lacked the velocity. Surprisingly at 10849 levels there is a gap up of 30 points creating an assuring conditional probability for Nifty to reach there before going for an upward voyage. Almost everyone is bearish on 5 to 15 Minutes Chart but believe me you need to wait till TOM 9:40 A.M before being too sure about the movement or taking position.
Time retracements of the previous low to low have already indicated the reversal at 15:10 P.M (Friday). And the low to high indicates a reversal at 9:40 A.M (Monday). And if this works out right then the low is expected to be created on the next day, which would be reversal point as well. And this fall would determine when would be the next move for the upward gap. A gap down would make the assumptions more accurate.
If the market open with a gap up above 10965 then the computation would be quite less as we can go for short at a first reversal sign with the high of previous candle as stop-loss.
Time plots are in different colour for better understanding. Dotted lines are the predicted time for reversal of trend, where 0 & 1 is user defined and the above numbers are predicted referring a particular wave.
Comment:
Nifty didn't opened with a gap down. But made a huge black candle as soon as it opens
Trade active:
Nifty reversed upside at dot to dot mentioned time. Velocity was even good
Comment:
Entered the gap. And started filling
Trade closed: target reached:
Breached 11030. And the closing was very near to 11030
