Nifty Pre-Market View.

A 5 waves may have been done from 6415 to 6133 (OR only 3 waves; BN suggests of 5).
If there is going to be a bounce it should start here around 6110-27 zone or the fall gets sharper down.
Last fall may be considered from "6191"; hence, price rise above 6168-79 would reveal the likelihood of larger rise, provided "the lows" hold.
Initiating trades @ the probable supports/ resistances would make low-risk-high reward trades.
One could continue to look for opportunities to initiate trades in the direction of the trend till the SL is breached. Part-booking makes the "Kalla" swell.
Small-time-business men don't make perfect sales but profitable ones; Profit precedes everything else.

Nifty Pre-Market View.

Corrections are the phases, a trader would adopt to range trading.
1st part of it is to ascertain the range; and it is done using a pivot table/ camrilla table, merged with key numbers from TT & Fibonacci table.
2nd part is to understand the "intra technicals" & global cues to identify the entry; It could be a long or it could be a short but take the one that meets the above criteria and presents itself first.
3rd part is to execute that entry when the market unfolds.
"Supports & Resistances" strategy is the superior one to all.
Knowing EW with its "correctives guidelines" offers you many "low risk-high reward" trades. Patience is the key and discrimination to choose a trade is the major factor to success.
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The stretched markets are undergoing correction and it has followed the "26 to 49 points" thus far. And if it exceeds too, it is likely to bounce back as long as higher T/F Technicals are intact.

Nifty Intraday Update-II

Nifty PreMarket View

Reader's query: I have been trading in Nifty as well as Nifty Options.
I have been using your Tech Table. But get confused looking at so many numbers like High EMA, Low EMA, Pivot Points, JNSAR...
Sometime feel which to follow...I have made the tech readings..

= = = = = = == = = == = = = ==

Markets are always flowing like a river with quite a lot of minor movements. We play these minor movements. The major shift takes place once in a month or two. Larger shift takes place in still larger time frame. Be with the larger current to assist you with the smaller currents till a major shift takes place.

The simple guide would be to choose the numbers closest to the "last close" and follow them along with intraday charts. The challenge in most intraday trading is how to read oscillators. The thumb rule is to gauge the oscillator move against the last price rise or fall against the current price fall or rise. Smaller the price action with a full move of oscillator means it is a corrective one while a larger move would obviously a trending move. Oscillators would be of lesser value in a trending market.

Whenever more numbers in TT confluences closer to a number, it becomes a critical one. For eg: today, 4933-M.Pivot, 4934-J10SAR, 4936-W.Pivot,4940-DEma makes 4935 as the critical number.

4950-WEma, 4952-R2, 4954-JNSAR would become resistances.

4865-HLEma, 4876-D.Pivot would become supports depending on gap-up with +ve global cues.

Our markets have mostly used the global cues to its advantage and traded. Accordingly a gap up closer to our critical number/resistance would provide a selling opportunity. How the EOD TA emerges would determine our market's strength/ weakness.

Nifty PreMarket View.

Guidelines for Conservative trade: A complete EW structure with Day Lead indicator reversing from above 80 mark or from below 20 mark, Macd turning down/up, Closing below DHEma/ above DLEma followed by a close below/ above DEma & Divergences if any.

Guidelines for Aggressive trade: Same as above but in Hour Time frame.

Guidelines for Aggressive intra-trade: Knowing the direction; Current trend; Using Global cues; Using Pivot table & Tech.Table to choose the resistance & Support numbers; Using RT Chart; Willingness for small SL; No hesitancy to book profits at your target levels inspite of trend continuing to favour your trade.

Happy Durga Pooja.

Mother...Thank you for being with us in our small journey.
Nifty Closes below 20Sma.

Nifty's breakout attempt checked for now by bears.

Nifty sets up a fast rise in day after short term +ve div.

Nifty makes an intra double bottom in short term with + ve div.

Mohammed Javed Akhtar to me, am.javed

show details 3:22 PM (2 hours ago)

Dear Sir,

In spite of repeated warnings, you seem to have developed a habit of consciously stealing stuff from my blog/website and appear daring to the public. Your latest attempt is reflected in the statement,

"you may skip this system altogether and go in for "Low Ema" system suggested by one of our readers."

if the source of the "Low EMA System" or the name of the reader, alongwith his e-mail address is not published on the same blog, an FIR/NCR would be launched against the blog,

http://tradeinniftyonly.blogspot.com

within 48 hours from now.

See you in the Court of Law.

Mohammed Javed Akhtar

Attachment: the page on which this quote appears is attached with the mail.

Nifty continues its corrective phase using +ve world cues.