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. 

3 comments:

parminder said...

thanks rv for ur nice and timely updates
regards

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.

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