Nifty current view before christmas?Why am i doing this? because everyone in the market know that selling is happening
Nifty recorded worst week. selling here there blah blah blah.....
fed surprise, federal funding fears... all drama over. now its Christmas time....joy every where around. can our market give similar joy to us ? hmmm lets see.
crazy last 3 months ( Oct - Dec) , looks like some people are mad and intentionally making Nifty 50 movements similar to bank nifty movements. mostly after weekly expiry is removed. As a long time nifty trader i am actually happy that i' m able to capture more points then previously, 3-4 years back nifty used trade in 100 - 150 points range and 200- 250 if some rally day and some outliers here and there. but now a days , ayoooo , some moves are crazy , similar to dow jones candle movements, ( speed and body length).... anyway... too much out of topic.
simple view.... market is doing 5-3-5 correction. now we are at the end of 3rd leg of last 5 wave correction. see chart. simply putting some up move as Christmas rally ( leg 4) and one last wave (leg 5) of down correction is possible to end the month and also year..... finally....hahaha that felt happy to write because i learnt a lot this year...aaa again out of topic.
I generally don't care much about exact end of leg 4 or leg 5 levels, i will go with flow once new weekly and daily pivots are formed that will keep my sanity in check. anyway this is the view i currently have.
Happy Trading!!!
Happy Christmas!!!!
and Happy Newyear!!!!
aaa disclaimer.... you know , if you feel it take it or else chuck it.
