Nifty Struggle to fly HighNifty , You think East, Nifty goes West. In simple words, No one predicts, the highly unpredictable Nifty. May be you accurately predict it at some occasions but majority of time it goes its own way. Yesterday , 14th oct it just filled the gap down opening of 26th Sep. From 26th Sep till yesterday there are more red(7 candle) than green (5 Candle). My observation for this naughty boy for coming week is as follows;-
1. Till it is below 17500. No need to go long
2. There is dearth of trading consolidation between 17500-17150 after 19th Aug. So this zone is full of vacuum. So, One possibility is that consolidation in this zone for Nifty gives you fresh cushion to fly high. or if it fails to do so than it shoots directly in the sky of 17500-18000.
3. Even in sky , Nifty has hurdle at 17,750 so Life of Nifty is not bed of roses for now.
4. To Swim in ocean of 16000 it has to take permission of security guard sitting at 16750 to open the gate .
What should one do than. Shall one go long or short. The problem of Nifty is that after opening in morning it does not provide any concrete picture for trader to trade So all volatility consumed in morning only. Better to do scalping on nifty chart with 5 min horizon.
In Diagram Rectangle labelled 1, has 4 candle (3 green, 1red) and Triangle labelled 2, has total 7 candle (4 green 2 Red). It gives the impression of two tomb on Base trend line lying at 17750. These antenna is false signal capturing element so must beware of nifty if any days it goes above 18000.Just short it...
