Having "weak global cues" around, use it to your advantage as a "dip buyer" would do.
I would be concerned if Nifty falls below 5080 and cautious below 5055(a bit bearish) and stay neutral on a negative close.
Broadening top in hourly was noticed and accordingly shorts were initiated. A 5 wave down will complete at the open and a rally to 5150-5160 will materialise. If Nifty were to move much higher, then a 3rd wave possibility(Which is happening in many individual stocks) will open up to be confirmed by a move past 5182.
Let us recollect the post in which a "broadening top" in the DAILY having a possible target of 5400-5500..
As Nifty is still trending up and above 5 avg, close the shorts @ open around the levels mentioned and go long with proper SL.
10 comments:
Sir It is buy on dips or sell on rise? in Nf
As all asian markets falling is it be fare to go long?
Hii Ilango sir,if we go long, any stop and reverse level?
sir..over the weekend or when u r free if you can show how to get those charts in excel (with all the volume bars) using normal EOD data/intraday data ..it will be helpful..thanks
Hi ilango,
Good Morning !!
Hi..all
GM.
Presently we go long from this morning lows. Also watch the ORB of 30 minutes. If that low is broken, then exit longs.
As I mentioned, if Nifty can move above the day's Pivot, keep the long. If not, we will exit longs too & keep the shorts.
Hi Hemanta,
Good Morning !!
What is ur trade today?
nifty spot open high same, could i go short this level?
Sir can U explain yt is orb of 30 min?
Hi..Prakash,
Open & High are not same. You are only seeing yesterday's close shown as "Open & High". Actual open is 5107.45.
Hi..Musti,
ORB means "Opening range breakout." We generally take 15 minutes. SOmetimes 30 minutes.
Please go through various studt materials provided at the top of this blog under "Always start trading with these". It helps you to earn steadily..No emotions.
Dear Ilango/ Hemanta,
Nifty is continously below today's pivot point. It seems it can take dip upto 5065 support level. What is your analysis?
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