Nifty sold off from MLEma & closed way below it.

Once a trading mode is identified using EW & TT, it is a matter of fine tuning the ranges for trading everyday. It has worked quite well in this September series. Nifty has now contracted further with another smaller range of 4905 to 5030 during last week.

It is evenly poised but the colour is Red now. I'll stay with it and make the daily adjustments till a clear trend emerges/ re-emerges in the higher T/F.

1. JustNifty TA(03rd Oct)

2. BankNifty TA(03rd Oct)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View.

Nifty broke out of the minor consolidation above 4930 to reach MLEma @ 5030.

Nifty enters the new series with a dual scenario but with some +ve bias. Once again 4955(far away now), the week Pivot would be bearish trigger(JNSAR too)and 5030-MLEma would be a short term bullish trigger on closing basis.
JustNifty TA(30th Sep)

BankNifty TA(30th Sep) - Uploaded.

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

VIX range for the day @ 4865 to 5030.
4868-4905 is the gap area.
4955-week/ Day Pivot.
Strength above 4945; Weakness Below 4945.
Momentum "UP" above 5000; Momentum "Down" Below 4865.

Nifty ends @ 5-DEma-4945, the middle point of the "sideways series"..

JustNifty TA(29th Sep)

BankNifty TA(29th Sep)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

Dear SreyO....Wishing you a Happy BirthDay.

Holding 4950, Nifty could attempt 5000+. Failure to sustain 5020 would weaken it considering the Overbought Hour TA. The kind of fall that follows will have clues about whether further upsides possibility after some corrections OR next round of selling to unfold.

Nifty's uptrending Hour TA has turned up the Day TA

1. JustNifty TA(28th Sep)

2. BankNifty TA(28th Sep)

Nifty Intraday Update-III

Nifty Intraday Update-II

Nifty Intraday Update-I

Nifty PreMarket View

I have altered the Pivot for the day to DLEma-4880.Pivot would become a SL for Longs.Above DLEma, the most crucial number would be weekly Pivot-4955. Sustaining above the weekly pivot only strength to the markets.
Remember also the daily TA is still down which would attract some selling at higher levels till a close changes the set up. Presently only the Hour TA is at its extreme & has turned up.

An illustration of a trading strategy/plan based on a combination of Trendlines(Channels) and Trend indicator (Macd-12,26,9)which has produced some safe trading opportunities. This does not mean that it will not have its share of failures. But, overall, it is expected to produce consistently profitable trades. There was a +ve div in the fast macd set up. The patient trader would use various studies to look for such "extreme set ups" to initiate trades.


Go Long closer to DLEma with a SL of 4825.Book part profits near 4945-4980.

Nifty opened below DLEma, fell 120, rallied 100+ on +ve Hour TA but closed well below it.

JustNifty TA(27th Sep)

BankNifty TA(27th Sep)

Nifty Intraday Update-III

Nifty Intraday Update-II