12 Apr - Time for Nifty to retrace upmove since 23 March

NSE:NIFTY   Nifty 50 Index
Turn date has arrived!

So far since 23 Mar bears are trying hard but their stop-losses are getting hit again and again. They had a very few intraday chances where they succeeded.

Now time has come for this entire upmove to be retraced. This retracement wave will continue till 24th Apr . Most possibly it will go to 61.8% level as shown in the chart.

This downward wave is Wave 2.

I will buy deep in money #Nifty option and 9:30 and avoid #BankNifty altogether.

Comment: Will buy #Nifty 1Apr 0800 PE at 9:30 today.
Comment: ^ 10800
Comment: Correction: Will buy #Nifty Apr 10800 PE at 9:30 today.
Comment: Bought at 398, stoploss 330
Comment: As this is a sideways retracement kind of wave, it will take time to go dowm.
Comment: Exiting stoploss hit
Comment: will go short again tomorrow. Will buy the same option at a cheaper price.


dont short in anticipation nifty has not shown any signs of reversing. FIBO's are used to trap guys.
+2 Reply
pankajvw nsraman
@nsraman, oh,,,ok....
Did you exit?
we are in buy in dips mode till 10376 level for today
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