short nifty below 11790

Oct 8, 2020

in one hour time frame short nifty below 11790 after candle close. although 12000 is likely to touch better to long above previous day high in one hour candle close at least.

Oct 13, 2020

Note

What we learn from history that we do not learn from history.

well, let me remind all that we can not underestimate the market behavior what it di in march 2020. The fall was too deep and the retracement rally was also very very sharp. And market is trying to certain traders that we are on a bull rally where as if we calculate from 12433 the all time high of nifty to recent high 12009, from where nifty is facing resistance is 0.9% of 12433. And as per elliot wave theory .9% is the last resistance or support from where trend reverses. So, to my followers I want to alert about the market is we are still in the bear market until nifty closes above 12200 at least on a weekly close. However 11867 is .786% retracement of the march low and we are above that. A close below 11867 on a daily chart will be an alarm point to reduce the portfolio or to take short positions. Currently do not take fresh positions below 11895 for a long position.

happy trading.

Oct 13, 2020

Note

I am sorry. Read 11895 as 11995

Oct 15, 2020

Note

if anyone has read this message and earned some profit then I should feel happy. At least my followers would not have lost money today if they are following me.


yeah...we should not underestimate the march crash. however nifty might give a pull back tomorrow as it has given close below 10685 which is yearly pivot , I hope nifty should not close below this line on a weekly close otherwise a more fall to expect.
There is a support at 10629 , with a stoploss of 10595 nifty can be bought if further downfall.