Monday, April 9, 2012

Nifty Trading

Chart updated with observations . Open was below SAR 5320 and now may be in last leg of ST correction . 5195-5225 is a low risk zone for longs which will be counter trend as of now (look for reversal signals in lower TF ) so caution for position sizing and stoploss. ST bias is down now.

A probability of this being the A leg since 5378 (in a-b-c subwaves ) and correction further extending after doing a B up remains . Close above Down Trendline confirms the end of correction.

Any break of lower trendline which will also break the 200dma has further bearish consequences. 


Parminder said...

thanks rv for ur nice and timely updates

Anonymous said...

thanks RV for your timely updates... I am a regular silent visitor to your blog, mainly for weekend updates. Appreciate your service to novices like me.

AAR VEE said...

@ Parminder ,Anonymous ,

Thanks for going through the post and leaving comments.