Some Charts and EWT counts

Been a while since I posted some charts...But I have been mentioning here that I am more bearish than bullish and what I think would happen. Posting some charts here to substantiate this view and also show what I was seeing and why I became bearish. 

Below are 2 charts which show 2 different ewt counts and what is happening now. Either way we go down to test the lows and maybe more. But lets see how market negotiates 2520 and then 2250. 

EWT Count1

EWT Count2

Next here is the weekly chart. Comments on it. Overall things dont look good. I hope some people benefitted from my caution messages over the past few days. A reversal will happen but from which level? Its anyones guess. For me the market looks sick...And there is a buyers strike out there. Sentiment needs to turn before we can start some sort of rally.

Best.

Exit Longs and Going Short for next few days

Yesterday I exited all longs and went short around 2760 Nifty....I am hedged so will continue to hold even if we go higher.

Best.

Quick Update

Buying weakness yesterday worked but I am not so sure anymore. Today I will get rid of my longs and my hedge positions and go into cash for a few weeks..I think its a good idea to be out of the market next few weeks since moves either side are dangerous and can kill a positional trader. Day traders...well enjoy the volatility while it lasts.

Best.

Buying Opportunity

This week could be a good time to start slowly buying into the market...I will start buying back in small amounts daily...Essentially buying back what I sold at around 3200. These are tough markets to time and trade but I think we are close to some kind of value levels...Market even though going down, is not really crashing now. I say lets evaluate the moves today and buy for a good swing up. We are now holding inbetween the 61.8%-50% retracement levels. If market breaks the 2730 area, we can go down to 2640. This area should offer some excellent support going forward.

Will post again after a few days.

Cheers.