Nifty may be showing a false strength between 4830-4855. Only to trap the remaining bulls. I am saying this since world markets are going down. So don't fall into this bull trap that they are showing in the charts. Even I seems to be falling in to the trap. But i have kept day low as the stop loss. So If you are long let the day low be your exit point
Checked 7 month daily EOD chart 21st Oct '09 to 21 st May '10.
If we put FIBO calculation, 76.4% is coming around 4800/50 area and 100% is coming around 4700 level then stright to 4250 level to 161.8%.
And today is the 35th day of fall? that too of fibo no. If reversal happens from today then upmove? or else this fall may extend upto another 20 days to reach 55, another fibo no?
Your charts are very helpful especially during market hours and to compare my levels with your charts.
I have fallen to the bull trap to day buying @4859 Is it possible to close @ cost in this series, in the next two days. Stop loss put @4840 not effected , reasons best known to the system of the broker. How to identify the traps,only be experience or any other method is there Bala
@BALA Even the experience traders fall to the traps. And looking at the world markets it seems we may get another gap down tomorrow if asian markets starts on a week note.
If we don't go below today's low try to look for a retracement to your buying area to exit.
Thanks, for nifty chart update, What do you think to long here , stoploss 4820, is it good to enter now....
ReplyDeleteGanesh.
san, you are very good, and very hardworking.
ReplyDeletethanks
plz remove that word verification for comments, only your friends are commenting here ...
:)
@Ganesh
ReplyDeleteThere is panic in all markets wait for nifty to go above 4860 at least.
@MOK
Thanks for the comments. I will take a look at the comments section.
Thanks San, I will wait... No trade as of now...
ReplyDelete@Everyone
ReplyDeleteNifty may be showing a false strength between 4830-4855. Only to trap the remaining bulls. I am saying this since world markets are going down. So don't fall into this bull trap that they are showing in the charts. Even I seems to be falling in to the trap. But i have kept day low as the stop loss. So If you are long let the day low be your exit point
Hi,
ReplyDeleteChecked 7 month daily EOD chart 21st Oct '09 to 21 st May '10.
If we put FIBO calculation, 76.4% is coming around 4800/50 area and 100% is coming around 4700 level then stright to 4250 level to 161.8%.
And today is the 35th day of fall? that too of fibo no. If reversal happens from today then upmove? or else this fall may extend upto another 20 days to reach 55, another fibo no?
Your charts are very helpful especially during market hours and to compare my levels with your charts.
Thanks and regards
San. Simple & Clear Charts and expression of the Analysis.
ReplyDeleteWill access your blog regularly.
Thanks
Sir,
ReplyDeleteI have fallen to the bull trap to day buying @4859
Is it possible to close @ cost in this series, in the next two days. Stop loss put @4840 not effected , reasons best known to the system of the broker. How to identify the traps,only be experience or any other method is there
Bala
Thanks to everyone for commenting.
ReplyDelete@BALA
Even the experience traders fall to the traps. And looking at the world markets it seems we may get another gap down tomorrow if asian markets starts on a week note.
If we don't go below today's low try to look for a retracement to your buying area to exit.
Will update nifty charts tomorrow