In Smaller time frame 1. Nifty seems to have completed 5 wave Impulsive move from MAR20 Low 2. Its 5 wave down from all time high to form ((A)) black of a ZIGZAG correction pattern. 3. We should expect a Relief rally soon to form a connector ((B)) black which should extend @ 17500-17600 zone which is 50 % retracement of latest move down. 4. Once Done we can expect another leg Low to complete ((C)) black which should also complete Correction of MAr20 cycle 5. Correction should extend at least 16000 which is 23.6% retracement level. Ideally Correction should be in the range of 38.2% -50% retracement, In some cases it may also extend to 78% which doesn't seem possible as of now in NIFTY looking at other overall scenario.
We are already Short on NIFTY from 17450 with 50% profit booked @ 17100 and stop loss moved to entry level - RISK FREE TRADE
Next plan : LONG Nifty to benefit relief Rally in smaller time frame- Target : 300-400 Points
액티브 트레이드
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Moving As Planned.
액티브 트레이드
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Nifty long : swing trade taken to benefit from relief rally is working in our favour and almost 250 points up from entry level. We will now policy our stop loss to entry level and book profit @ 17300-17400 zone so s to achieve our target
매매 수동청산
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Book Profit as we are almost 400 points UP from entry level
코멘트
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As we are approaching 100% retracement level of (W) blue from (x) blue their is high Probability of Nifty taking resistance in the range of 100% - 161% retracement zone.
We will be looking for Selling Opportunity again in this zone to target encashment of Wave ((C)) BLACK
거래청산: 타겟 닿음
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Nifty Made Highs of 17590 and our Expected level was 17599 just short by 9 points. However we have already closed the position after 400 points profit since it was a contra trade. Because short cycle trend is corrective and we took position on Long side so didn't wanted to go aggressive.
액티브 트레이드
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Sell Trade Active: Nifty made high of 17639 and started moving down. Following black path as indicate
액티브 트레이드
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Intraday One can book profit @ 16966 in DEC future Position which was sold as per 13-dec-21 update
액티브 트레이드
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As 14-DEC low of 17230 is broken we have got the confirmation that connector 2 Red is formed and a incomplete sequence is their so we can expect the level of 16966 to reach with Very Very High probability NOW
액티브 트레이드
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17242 level is Invalidation level for shorter cycle. once it breaches one can Exit for Smaller time frame. However We can still Hold for Larger time frame, as long as it is below 17688 level.
액티브 트레이드
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NIFTY 17242 Invalidation Level still intact, and trading below the same. So our trade is still valid and active
코멘트
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Nifty DEC future Short position carrying since 13DEC @ 17588 is now approaching at our target level 16966
Please book profit @ 16966 -17000 Range. However wee can expect still further down side after a 3 wave bounce
My ID is artiblossom@gmail.com