Nifty has just taken support @ 4920, its 20 DMA.
Nifty's 20 Ema comes @ 4891.
Will these levels hold..??
The last pivot low is 4904.
The last channel support from Mar.09 low of 2539 is @ 4865.
So we have short term being down with likely supports @ 4865-4900.
Retracement strategy, a must for traders.
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
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I 'll always be there for you. To make you feel that you're secured. And even if the rain is pouring hard and the sky is almost dark... -
5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ... -
Trading strategy that works wonders besides the supports & Resistance is " Retracement strategy ": The strategy that has wor...
4 comments:
Ilango sir, nifty moving up after hitting our SL. Has the 5th up wave started? how we will confirm it for taking long position??
Respected Sir,
In hourly chart Nifty is now above 5EMA i.e. 4970. If current candle of hourly chart of Nifty close above 5 High EMA i.e. 5986 then can v take long position ?
Regards,
Deepak
Hi..Bizagra,
As it is mentioned earlier, that SL is an approximate one...It does look like a v"th. I would have liked it to have done some time correction...
Hi..deepak,
4900-5100 is the band that has been discussed with minor modifications. Nifty found support @ 4921(20 DMA) and moving higher for the 5th wave up..
Let me remind you...there are no rules. The strtegy that works best in this market may not work in next year.. We just have to keep improvising and take calculated risks.
As the world mkts showed a rally possibility, it was also expected in our mkt...
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