Fearing the end, Many have no beginnings.

Remembering M.K.Gandhi, the Mahatma.

There was once an old wise man who lived on top of a mountain. (I don’t know why the wise men always like to stay on top of mountains.) Whenever the villagers had a problem, they would climb up the mountain and ask the old man for advice.

One day a young man decided to climb up and ask the old man a question.“Wise man,” he asked, “What makes a man truly great?”

The old man looked at him and said, “Do you sincerely want to know?”
“Yes, yes!” the young man replied the wise man.

“Well,” the wise old man said to him, “Let me tell you in the form of a story”

Nifty starts its Oct. a/c with a steady upmove & OS short term.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Quite a lot of discussions have taken place on "Stop & Reverse" methods. JNSAR belongs to the same method but the "number is arrived based on different parameters that I believe in.
It captures almost all of the "Big moves" but its utility during "indecisive/ sideways" markets are limited. It helped to identify the "tug of war point" in yesterday's move and it was suggested that once it moves past 5981, it will gather strength.
Dinesh Rishi has offered some additional strategies to be employed while using these methods-20 point leeway.
My table will continue to show the simple approach but you must improvise on it by using the "intraday levels" as well as "Intraday TA" too.
If you want to capture big moves of 600+ points in a single trade, please be willing to let go off 100 points in a few trades too. Mitigate this by active trading based on sideways market's ranges.

Lastly, some would like to boast of their predictions and some would naively open their heart and share their observations without holding back. Don't pick holes in their observations for it is difficult to convey it all in a fast changing markets. Be grateful to their time & only encourage their sharing nature.

In the end, it is your decision to take others observations and put it to a trade-able plan. Both adulation and admonishing should only go to you.

Nifty may be developing an ascending triangle as BN did.

Nifty traded well within the planned trading range for the day. If it is a counter rally for the fall, it should limit itself within 6050-6070. Nifty just managed to keep its head above 5-sma. If follow up action fails, it may move back to 5960 again.

I will update in details in PreMarket View.

An ascending triangle has a definitive bullish bias before the actual breakout. On the ascending triangle, the horizontal line represents overhead supply that prevents the Index from moving past a certain level. It is as if a large sell order has been placed at this level and it takes time, thus preventing the price from rising further. Even though the price cannot rise past this level, the reaction lows continue to rise. It is these higher lows that indicate increased buying pressure and give the ascending triangle its bullish bias.

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Weekly Pivot Trading has worked amazingly on most occasions especially when the markets make big moves.
This week too, Nifty got resisted @ the first resistance(6075) and has taken support yesterday @ weekly pivot @5980.
Today being the "settlement day, most of the action would be centered around the psychological "6000".
Most part of yesterday had a resistance @ 6020 before Nifty fell deeper to 5980.
Above 6020,the much traded zone of 6040/45(DHEma) would be a resistance and below 5980, Low ema @ 5965-5970 & S1@5957.

In sum, the tradeable range is likely to be 5960/5980 -- 6020/6040. Trade light.

Volatility range is @ (s2)5925 to 6060(R1).

I will be available only for intraday updates... Share your thoughts responsibly.

Nifty gives the bear candle & closes below 5ema.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

A good "Bear trade" would have been possible in the first hour as per our plan.
Nifty is still within the rising wedge channel..(Till 6000+/-5).
Tough part is ahead of us for quite some time(2-3 hours).
Trade light.

Nifty PreMarket View

Such a huge upmove generally do not end with a small 5th wave and the 5th wave did not show clear 5 sub-waves which make us look at other possibilities. The more logical one could be an ending diagonal which generally follows sharp impulsive upmoves such as the one Nifty had in its 3rd wave from 5474 to 6038. Today's price move may have more clues to it. I have shown the likely path and if they match, the plan is in place.

Nifty bounces off 5-ema but closes below High ema.

There are many possibilities at this juncture to play the short term.

5th wave of 3rd has ended and the larger 4th wave has started likely to last a month.

5th wave of 3rd may unfold as an ending diagonal which generally happens after big rises.

4th wave of 3rd still continues with an irregular top made @ 6074 and a 5th may unfold.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

There is a minor +ve div in the intra charts.
Our trade levels coincided with the lows.
Go with this flow and then review after 30-45minutes.

Nifty PreMarket View

Thank you, VIREN for those MP Values inspite of your hectic preparations to provide unique quality services to your clients.

Is the 5th wave over?

Is there a one more high possible.?

Is it just the 1st wave of this terminal 5th wave.?

TA shows negative divergences, inverted bearish hammer both of which requires confirmation with a follow up confirmations. On their own, they suggest certain possibilities. But prices need to confirm. Under such circumstances, whatever we attempt to do against the current uptrend should be treated as "aggressive & risky" & should be managed with strict stop loss.

It is easy to play the trending moves. Once a topping/ bottoming is near or a consolidation/ distribution is on, search for those critical levels of supports & resistances and play it within that light till clarity emerges.

U.K.Raj seems to be gaining on confidence because he has found a method & "sticks" to it and the method brings him success as long as he follows. He will need more time to cement his success.

Best wishes to you.

Nifty's double negative divergence & a bearish inverted hammer.

The bearish inverted hammer has a typically bearish appearance, but it can have multiple predictions for the future depending on what precedes and follows this candlestick pattern.

Nifty Intraday Update-III