We should revisit our week end analysis when ever complacency sets in with a sense of knowing all about the markets. Our initial analysis is often the "intuitive one" and markets bring in the "emotional content" with its moves, which were anyway expected, but adds rainbows to it while it unfolds on the monitor screens and sways you away from the path.
Nifty moved right into the middle of that "5110-5165" and poised to go towards "4935" again. A close below that or a fall below 4885 may eliminate the "larger pull back" and Nifty will make new lows.
Grey:(Bullish with immediate short term bearish) - This one has completed "a" of the "2/ B" and has started the 'b" from the high of "5147" , can stretch upto 4960, 4935, 4885. If it holds any of the three levels, it could start a bullish "C" wave up targeting 5200 - 5260.
Red: (More Bearish in the short term) - After the "X" wave at "5213", "a" wave fell to 4786 and a "b" wave completed @ 5147 on Friday and the "C" wave may unfold in either "abc" or "12345" fashion. Here too "4885-4935" may act as an inflection point whether "Grey" or "Red" is playing out.
Being down with fever, I am not able to answer my mail this week end but for those who found it difficult to trade the recent times, I wish to remind you just a simple fact: "Have you done your home work before trading and are you confident enough to act on it and have you stuck to this plan of yours..?".
For the easiest of trading strategies, I reemphasize here to "Trade only the divergences" and you will hit more than 80% success rate with a relaxed approach. And there are many divergences to choose from.
Nifty moved right into the middle of that "5110-5165" and poised to go towards "4935" again. A close below that or a fall below 4885 may eliminate the "larger pull back" and Nifty will make new lows.
Grey:(Bullish with immediate short term bearish) - This one has completed "a" of the "2/ B" and has started the 'b" from the high of "5147" , can stretch upto 4960, 4935, 4885. If it holds any of the three levels, it could start a bullish "C" wave up targeting 5200 - 5260.
Red: (More Bearish in the short term) - After the "X" wave at "5213", "a" wave fell to 4786 and a "b" wave completed @ 5147 on Friday and the "C" wave may unfold in either "abc" or "12345" fashion. Here too "4885-4935" may act as an inflection point whether "Grey" or "Red" is playing out.
Being down with fever, I am not able to answer my mail this week end but for those who found it difficult to trade the recent times, I wish to remind you just a simple fact: "Have you done your home work before trading and are you confident enough to act on it and have you stuck to this plan of yours..?".
For the easiest of trading strategies, I reemphasize here to "Trade only the divergences" and you will hit more than 80% success rate with a relaxed approach. And there are many divergences to choose from.
