Long or Short Opinion

[rajputz]

Columbus sir,

ab to charts mein koi problem nhi hai na....mine is 15.4 inch lcd and it is fitting fine on it.

 

[scplindia]

What do we do today

 

[simple_trader]

Dear scplindia,

I am buyer here at 5050 future level around both index and some stocks. for intraday bounce.

risky trade though, but i am taking the opportunity.

happy trading!

 

[rajputz]

wont it be going against the trend. For such days, you should be more safe by waiting for intraday bounce and sell there. Cuase when this type of gapdown occurs, price moves up slowly on low volumes to cover the gap and then fells again. Just a thought, although seen many times.

This type of formation and price move forms a Bearish Gartley. One great fall, followed by little correction to upside making higher bottom higher top, not more then initial high of the day, and there it zooms again. Just my two cents. Be cautious and put tight stoploss.

Check the image of what i am trying to say...

From Point D it fells again. I am not an expert on it but just want you to be cautious.

 

[rajputz]

Check the below shares and nifty future. Nifty Future i THINK is forming a butterfly in which D exceeds X. Sail and RElCAPITAL are valid or not i dont know. Looks like to me. But only an expert can tell.

 

[simple_trader]

Some profit booking needed.

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[rajputz]

5090 needs to be taken out for further recovery. Doesnt seems like happening.

 

[simple_trader]

Dear scplindia,

I am buyer here at 5050 future level around both index and some stocks. for intraday bounce.

risky trade though, but i am taking the opportunity.

happy trading!

Some more profit booking at 5100 is needed as 5100 CE seems to be adding some OI.

Though NIFTY can move to 5130-5170 future level. better book max profit here at 5100/

 

[simple_trader]

It is good to finish all intraday longs here at 5120 future level. and it is not advisable to carry longs today. check market tomorrow and then take decision

 

[rajputz]

Nifty has formed a Bullish gartley pattern. I am just testing it. Lets c if it is respected. After a major retracement to upside, the price formes an ABCD pattern in which Leg AB=Leg CD, after which the bullish move continues. Check it out. B and D are reaching the 38% retracement of XA leg.