Still No Signs of Releif

Hi,
Things are almost same and nothing has improved so far. Global scenario is dicey and no clicker news so far in domestic front to move the Nifty up. Now for the downfall I'll keep posting my lvls. Down trend is still intact despite a quick move by nifty yesterday (I see it as just a technical pull back and no resumption in the main trend which was or say is up). As long as our Index stay below 4300 we can get further targets of 4050-4080.

Oh well about the 23.6% retracement I think it is itself taking its last breather. Since it is out in a big way through ET, I hope it'll not work this time (huh thtz strange logic from my side). Ok honestly we got a shadow on 23.6% retracement which breached it quite well but as per my new studies the game is over. Nifty is moving quite well in a well mannered downfall following some different rules of the game this time(will tell you only lvls this time) and if it moves further in the same trend which I wish will hold should give us near 4000 lvls this time. BTW yesterdays low is definitely a big problem for the downside lvls. once taken out it will be Eureka!!!!

Hope you loved reading it.
Happy Trading.

Retracement Game Again!!!

Hi,

Everytime we make a new top everyone knows we go ahead for retracements. So we are heading you yet another retracements which as you know I always take lows from our historic body low of candles. This setup is again amazing and is giving retracement around 4050 lvls. Hmm so I guess we may see 4100(4100 being a long support line) to 4050 range for the coming days and that retraces our Big Gap up candle by nearly around 50% approx, not bad for profit booking after all Indian investors are getting chance to have some relief after a long time( One year a long time??? ehh) neways they might not be getting the stocks which are valued at 21 k historic highs but still some bottom fishing must have given them some averaging sort of things. All in all coupled with weak globel cues and still some time to form a government 4050 is not so far. Our Dow Jones too falling in a 3 days loosing streak so things are perfect for retracement untill some anouncements from government cheer up the market and may trigger some buying.

Hope you loved reading it.
Happy Trading.

Nifty Swings - Day Traders Delight

Hi,
So Tuesday was definitely the day traders delight as Nifty gave the wildest swings in the day giving almost 100 points in each swings and generating the largest turnover ever in the history. Nifty seems to be making all the records this may thatz why I said earlier its Heated and Promising May.
One more history which was repeated and was obvious too was its retracement. Read the post below I gave a 20% retracement rule ( sorry I couldn't gave example of what I was explaining earlier due to time constraint) which gave the perfect entry point to go long when Nifty opens with a big Gap up.


Its interesting to see if we could again get close to our perfect entry point again or not. Till then we are in may and its still heated and promising as well.

Hope you loved reading it.
Happy Trading.