"Below 5730 /200dma on closing basis it is weak. One should be Positionally short below it with proper S/l for any whipsaw."
"The RBI Meet on Tuesday may be the next trigger for a Trending Market in short term".
" Technical target on break of these levels is apprx. 200 points ".
" Is the smart money hedging against a fast move down below 5700 level ???"
" Is this the indication of the range to be broken on the downside ??? "
" The Option and FII data points towards the alternate count as of now. "
Above are the few excerpts from the Trading Strategy & Analysis posted for this week - CLICK HERE , (Check the Picture caption of Post - I want to break free :) )
The Bullish Elliott wave count which was considering the upmove since 5177 as 1-2-i-ii-iii-iv has been negated as wave iv has entered the wave i at 5608 level . For EW insight followed by me - CLICK HERE and check subsequent posts for developing count .
Any upmove only above 5710 now (as per Volume Profile ,5ema and Pivot ) .
Keep it as SAR and trade further .
Enjoy with the flow .!!!
7 comments:
Dear Aarvee, plz give update. Wht SAR can we keep now?Is it still 5710??
Thanks
One more thing, from which website do u use hourly and daily charts??For volume u use volume digger this i know.
Thanks
@bizagra-
I dont think any update is reqd.now for positional play.logical target was 5500,reached ,now gap filling of old upmove happening.
Rest will update later.
5710 was the level for short term reversal to happen for any upmove.it is down below it.
one has to manage short positions now as per his risk appetite.
@bizagra-
I use quote.com's hourly chart .
Daily eod chart -chart nexus
intraday 5min -yahoo
intraday -GCI MT4 for different TF.
Trading platform-ODIN
All the resources that i use are given in the link at the side bar on top under @Resources - My Trading Diary.
Volume digger's link is also there for volume profile.
This was what i wrote in a previous comment -
The chart i use is a simple Volume profile,i.e. volume at particular price levels (horizontal bars are volumes at prices in front of them). I use free charts available at 'volumedigger.com' site.(Symbol of Nifty is .NSEI),u get data for upto 10days(enough for shortterm swing) in different time variables.u can follow it live or eod.also Stock charts are there.(symbol as per NSE)
Thanks Aarvee for guidence.
@All-
Friends should be prudent to book their shorts tmrw following any intraday method of exit as per their liking.
Short term reversal only above 5540now.
Positional shorts should plan to enjoy the flow even further.But take some spoils home
The escapist , hiding from criticism spinmaster looked into mirror. And created an image of himself in the post title for the day.
Its another plagiaristic weekend joke at proxies paradise.
Ho Ho Ho
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