Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Thursday, January 1, 2009

The Setup - Followup

Main setup I am watching now...Chart is same as posted before...Watch next 2 days closely...Short with tight stops or hedged with calls looks like a good risk-reward play..

Market did not go down as far as 2650 but still the direction of this fractal remains the same as outlined in earlier posts...But we are very close to invalidating this...So a close watch looks to be prudent.

Best.

2 comments:

Wroodrah said...

sir today is a day to post...

:)

lost quite a bit, on the shorts off late, and was finally out waiting to re-enter higher.

think i can trade with much more confidence after today!!

feels good to see the mkt acknowledge that today in kind, if not in cash.

i'm sure you have a lot to say today, with a smile on your face too...

waiting ..

pranam,

wroodrah

Deepak said...

Lee, last week on 2 Jan I shorted at 3000 levels. But nifty goes to 3150 and people/blogs start talking about 3240 levels then today I booked loss at 3100 levels but just half an hour later market goes below 3000 levels if I have waited I could have booked profit today. The thing I need to ask is how to avoid this situation and what should be the stop loss? pls post nifty charts

Deepak