Just a quick update - I am sorry didnt update anything till now..was busy..anyhow whatever I updated before in posts and comments still stand. We are trying to bottom for a 2.5 week low but this is ofcourse bound to be weak being so late within the bearish cycles SO whatever rallies comes, it will be short lived and we will go down toward the 80 week lows expected beginning of November timeframe. I have given more details in my earlier post - dont want to repeat them here.
Rangebound action is what we are seeing right now. 4900 needs to break for bearish case and 5040 and then 5175 needs to break for bullish cases. I think by this itself you can understand which case is stronger. My bias is also very clear I hope.
Trade Safe.
EDITS:
I am maintaining a status quo for today. Basically not doing anything from yesterday. Am short heavily but also have hedges in Nifty futures. Probably only a matter of time before we break below 4900-4875. Then it might be a bear party.
Best,
Lee
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2 comments:
Wah
prince is becoming "price" :) superb TSL with good sleep?? :) In dream also push nifty downnnnnnnn
why this verification words??
Not sure about verification words..maybe because you werent logged in at first?
Price action..woulda coulda shoulda right? Should have covered partially atleast at support yesterday. Unfortunately a price I have to pay for being here trading at night time..still a bad day to sleep early I guess. :)
Let me get back to my analysis..Its pretty certain now that the 2.5 week low is in..And also did come within my initial timeframe! lol..Wednesday/Thursday I was saying for long time.
Anyhow a bounce is on..May run for next 2-3 days more I think..May also get to 5175 level again. Nuts!
Best,
Lee
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