Hi,
Its been a long time which put me away most of the time from trading and ofcourse blogging. Now finally resuming my active Nifty trading. Nifty movement have been quite interesting now a days. I all my posts I've had a bearish bias coz of my resistance lvl 4700 breakout of which told me that in market you got to consistently update your view with changing situation. As a trader one should not get attached to lvls. To be honest my bearish outlook changed once a while way before 4700 when iip data came and beat most of the lower estimates by quite a margin but that time china bear wave hampered my view and I continue to hold my bearish view till 4740 got breaked. I was so bearish that I didn't participated in further rally and was a silent viewer.
Well now I'm back again to plunge into the Nifty:). Going through the recent developments sentiments and fundamentals seems to have joined their hands together. Now for Nifty I've planned to move with open mind as correction is due but nobody knows when. For upside I've two lvls and price action around these lvls are extremely important as they may act as support and resistance for the rally.
First lvl is 5030 +/- 10 points.
This is my one of the major lvl can say like 4740 we can either get a corrective wave from here to all the way to our earlier support of 4740s or we can further move to next lvl.
Second lvl is 5330. Now this is the second major lvl if we can get past 5030 decisively.
So not claiming anything anything as usual just watch price action at these lvls. I'll keep posting charts and lvls further.
Happy Trading!!!
Its been a long time which put me away most of the time from trading and ofcourse blogging. Now finally resuming my active Nifty trading. Nifty movement have been quite interesting now a days. I all my posts I've had a bearish bias coz of my resistance lvl 4700 breakout of which told me that in market you got to consistently update your view with changing situation. As a trader one should not get attached to lvls. To be honest my bearish outlook changed once a while way before 4700 when iip data came and beat most of the lower estimates by quite a margin but that time china bear wave hampered my view and I continue to hold my bearish view till 4740 got breaked. I was so bearish that I didn't participated in further rally and was a silent viewer.
Well now I'm back again to plunge into the Nifty:). Going through the recent developments sentiments and fundamentals seems to have joined their hands together. Now for Nifty I've planned to move with open mind as correction is due but nobody knows when. For upside I've two lvls and price action around these lvls are extremely important as they may act as support and resistance for the rally.
First lvl is 5030 +/- 10 points.
This is my one of the major lvl can say like 4740 we can either get a corrective wave from here to all the way to our earlier support of 4740s or we can further move to next lvl.
Second lvl is 5330. Now this is the second major lvl if we can get past 5030 decisively.
So not claiming anything anything as usual just watch price action at these lvls. I'll keep posting charts and lvls further.
Happy Trading!!!
3 comments:
kab aarahe ho icharts par...BA
Oh yes, i'll be there by monday. wish to catch u there :)
Happy to see you after long time n posting ur views
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