If it is at the terminal stage of this "b" wave correction, it normally ends by today or latest by tomorrow holding above either 5385 or 5405. However, there is no rule that a correction has to end at 61.8% or 80% and so on. It could retrace the entire rise too(5329). You choose one option and execute your trading plan with proper SL.
Part booking & re-initiating the trade will keep you in a trade for a long time and in deep profits.
This conservative trade is mixed with a lot of aggressiveness. Alternatively, you can choose to "reverse to Longs" only on a move above 5520 for the day.
This conservative trade is mixed with a lot of aggressiveness. Alternatively, you can choose to "reverse to Longs" only on a move above 5520 for the day.
31 comments:
Good Morning Ilango Sir and Friends
State Bank of India Analysis: CLICK HERE
good morning sir,seniors & friends.
Good Morning Ilango Sir and All. I think Nifty Spot Price is not updated in Conservative trade table.(5521)
good morning,seniors..
GM All
Regards
John
Good Morning Ilango Sir and JN Family
good morning Master and all seniors have a great day
Good morning all
Good Morning Ilango Sir and Friends.
Gud Morning Ilango Sir..
Nifty Trend and Tips
@ MASTER!
http://postimage.org/image/1baehvtac/
niftyfut in premium!
vix at 19.07....
Good Morning ilango sir and friends,
Don’t place your mistakes on your head, their weight may crush you….
Instead, place them under your feet & use them as a platform to view your horizons.
Let us not seek perfection......Because we are not perfect.
Let us not judge......Because we are not Gods.
Let us not dictate......Because we are not tyrants.
We are Human…
We Learn…We Fall…We Fail…
We Get Up…We Reach Out…
We Help…We Live…We Conquer…We Let Go… but…
We Never GIVE UP.
- Joey Junior Bones
@Master Ilango, plz comment @ above count
i.e. possibility of alternate count?
I m in profit @ spot as i was buying & covering puts frm 5600.
So, covered the position after opening (@SUPPORT:5450) considering ur count.
http://postimage.org/image/1baehvtac/
Good Morning Everybody!
Dear jigs, SAM & parimal!
Thanx for giving ur encouraging comments on my blog, Nowadays busy in guests so updation very late. Thanx again & tk cr:)
Rgrds,
Kumar
Gm Sir & Friends,,
Nifty 5420 imp to break
Today 5450 may be tested and just for today we may hold it,
but tomorrow...................
Good Morning Sir and Friends...
sorry 5350....
I covered all my shorts here at 5445 spot & took some long, will buy more near 5425-5400.
Good morning
Most definitely on closing basis.
That long lower spike on friday`s candle implies that nifty found support at the lower levels.
This reinforced with 5400PE having the max OI about 87L though OI came down by about 3L or so during the day. This can be attributed to individual writers squaring off in panic.
Also - the vols in May were north of 10K crs in the cash segment.
10 days of just under 10K crs and 12 days of north of 10K crores - avg of these 12 days works out to 11827K crs.
Avg on the other 10 days works out to 9193 crs
In June - session on June 1, 2 and 3 did over 9K crs while the rest of the 5 sessions averaged less than 8K crs. Shows volz declining while market is declining. I intrepret that as bullish in the short term.
unless 5400PE is sq off in huge numbers and the OI drops by 10-15L, it will offer solid support.
Entire month of April - volz were in mid 5 digit except for one day and markets declined all of April.
I feel 5445 should hold on closing basis and mayb even on intraday basis.
I also fee the triangle is playing out and if indeed it is the triangle - we have to get to the upper TL currently at around 5750 and since this line is declining and the rate of decline (approx avg) is 5 points per session.
Wave C took 34 sessions, assuming wave D would be .618 times 34 = 21sessions.
If indeed the current wave is the wave D of triang, it has clocked 13 sessions and 8 more left to target of wave D
Deducting 5 points for each of the left over 8 sessions brings the declining TL to 5750-40 = 5710 which wud be target for D. 8 sessions from Monday gives us Wed 22June, assuming there are no holidays.
My count could be wrong, but this how I plan to trade.
Long via the July 5400CE - to begin with a tight 10 points SL from the entry point.
Once we clear 5503, will write July 5700CE in the ratio of 1 lot long and 1/2 lot July 5700CE.
Once 5556 is cleared will increase the ratio to 1:1
On a rise above 5606 - I will write 1 lot of July 5800CE.
At 5700 - Will Book out of 5400CE and HOLD the short 5700CE and 5800CE with SL at Cost basis
If on 22June or earlier we go over 5725 and the 5700PE wud be bought back either at cost or with a small loss.
If indeed we turn back from 5710-25 zone, Will continue to write 5800CE.
Wave E after the D is tricky, though its direction is down to meet the rising lower TL, if often either falls short and reverses direction or overshoots the lower TL and then reverses direction.
In case this count is fairy tale - Nifty wud not be able to go over the 5605 level and collapse to make new lows via an expanded diagonal. I will just let the SL take me out of the long 5400CE and protect the short 5700CE.
Contracting triangle or Expanded diagonal? We will know by June 22 - certainly by the end of June expiration.
In short - Over 5605 - we are headed to 5700 then a decline of approx 200 points to E and we then make new highs.
If we take out 5328 - we will test and probably violate the 5178-5232 zone.
Good Morning Sir and Warriors
GM Master and copy to ALL :D
@ kumar Sir,
If I buy nifty here what would be its sl.
regards!
If anyone like stock then KFA
Dear Sharda Saburi!
Kindly read my aggressive buying area with stop loss & target at my blog, just click on my profile & u will reach there.
New Post Done.
@Kumar Sir,
Thanks!
GM Sir & JN family
TT
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