Lets see.
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Another shortened week ahead..I have found that these kind of weeks throw me off a bit..I mean timing wise it can make things a bit 'OFF' but well we got to live with it I guess.
Market this week - I am again expecting we see a pullback. It could be very fast and could also be a sidewise shallow correction. Buying the pullback could be profitable..I think for this time. But dont be in a hurry to buy - In my very humble opinion. Lets look at some levels on the charts.
NIFTY HOURLY
NIFTY DAILY
NIFTY WEEKLY
TWO POSSIBLE COUNTS IN RED AND BLUE
As you know I am totally flat right now..I am not sure what I will do next. In 2 minds..I.E to let the market settle down a bit before going long again..OR try a quick and small short for 2 days? Tough call. We will see as it goes. Will update if I see something interesting or do take a position today.
Best.
10 comments:
if C is a correction wave...shldnt the fifth sub lead to a lower low to that of 3rd sub?? But u have marked a opposite possibility ...so Eliiot count can also be wrong in the correction is it?
Not sure what you mean Shaq..If 5th wave ends higher than 3rd down, it means that its a truncation. A very valid scenario and also means a stronger than expected market. The rebound would essentially be fast and furious..Exactly what we saw past few weeks.
Best.
ok...my understanding of Eliiot was wrong...i assumed in a correction we will always have 5th sub to form a lower low ...didnt consider a truncation...how much chances wld u give for the truncation scenario ?
Given that we have been so strong, its definitely a strong possibility. Not sure how to quantify it though.
i think this will end arnd the 200 dma only today...n leave it all open for us to ponder with a holiday tom...
Is any correction pending due to CCI(14) Diversion on NSE daily ?
Small Diversion on momentum(12)
200 DMA , SmallCaps & MidCaps climbed ....
Enough to guess ....
Lee any link to learn the swing system which you are using...i mean how to draw that blue line and know SL points and can it be done in Amibroker?
Study this Shaq and ask me if any Qs -
http://vfmdirect.com/kplswing/
thanks for the link...will mail you if i have any queries on this...
Any one has "Mcmillan on options" in Pdf Format ?
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