Hi All,
Medium Term trend is now down - something which I was expecting from 19th onwards, started from 20th and is now confirmed.
When will it end? 2nd January 2018, and new year will bring a fresh new up-trend!
MT traders can remain short till then with stop-loss at 20th Dec high.
Yesterday, I said, first 5 minutes will decide the trend for the whole day. And Nifty was at its lowest point just before closing!
This short term downtrend will end somewhere in the second half, so hold patiently. This is a bit slow with too much of zig-zag, keeping TAs confused.
Medium Term trend is now down - something which I was expecting from 19th onwards, started from 20th and is now confirmed.
When will it end? 2nd January 2018, and new year will bring a fresh new up-trend!
MT traders can remain short till then with stop-loss at 20th Dec high.
Yesterday, I said, first 5 minutes will decide the trend for the whole day. And Nifty was at its lowest point just before closing!
This short term downtrend will end somewhere in the second half, so hold patiently. This is a bit slow with too much of zig-zag, keeping TAs confused.
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TSL for the day is 10510, first one and half hour would be up.
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One can short at 10:50, if not already.
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Holding short position with patience, it will surely come down.
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Had mentioned 10:50, and one can see on the chart, neither Nifty nor BankNifty dared to crooss the level at 10:50 around! Now they both are going dowm! When will it end, only on Tuesday. Monday is a holiday....merryy X'mas to all!
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Now the big question....to carry forward or not given 3 days break. If you have deep in money option or futures, carry forward. Otherwise exit before market closes. Its quite possible market will gap down on Tuesday. But erosion in premium will have its own effect.
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Starting 26th Dec, we will start trading intraday waves! Will take only upto 2 trades per day....frequency won't be too high. Keep following and keep liking! Have a happy weekend and very happy X'Mas!
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false berakout by Nifty just before closing, ignore it.
