Long or Short Opinion

[praveen taneja]

Last night there were so many updates, people were worried about Dow fall etc. it turned out to be long traders delight!!!!!

Happy trading!

Pls read post which I posted in the morning:thumb:
http://www.traderji.com/day-trading/32562-trading-pt-style-445.html

 

[rajputz]

I am waiting now for nifty to give some pullback. The moment my cci crosses off the -100 line will be exit for me from this bear market. Then i will be looking for some other trend reversing signal on nifty. May it be VT, Ghost or Famir. Other wise a GB100, ZLR, or tonytrade. lets c what the coming week brings us.

Support stands at 4830 for Nifty. Trend Decider level will be 4910. Trend reversal might come near 4962. From its recent rally to upside, nifty is standing at 61.8% retracement. Lets c how future unfolds itself.

 

[praveen taneja]

I think now support is at 4894 on spot and resistence in 4975-90 zone above that zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzooooooooooooooooooooommmmmm till 5080 then mkt would decide zoooooom or Dhadddddddddddammmmmmmmm

 

[rajputz]

If talking about the numbers then 5010 can be good entry....breaking of 5080 can be confirmed....

but this time i would rather go with the signal of CCI, other then the number....

 

[praveen taneja]

Bhai main Anari banda hoon if one enter at 4980-90 then on 5010 he can make 5000 sl so at least something in pocket na even if 5000-10 give resistence all exp covered in case of sl hit but u know better then me

 

[rajputz]

Agreed Praveen bhai.

Ye pic Check karo...the day my cci crosses the pink -100 line, That will be nifty Short exit trigger for me. But not a buy. Then will look for some trend reversal or for trend continuous signal. Feel much safe that way. Even if it gives the whipsaws, the risk rewards proves good. Atleast on Nifty.

 

[simple_trader]

Does Infosys weekly chart looks like a WW, which is in underway? Experts please confirm. (on daily chart, it seems to be giving short term bounce though).

By the way, DLF had a WW kind of pattern 1 month back, which has finished target just.

 

[rajputz]

Hi ST...

please post some chart of underway WW on infosys....actually i was trying to make it and couldnt. Please elaborate how are you making it....i am myself learning it yet and couldnt find it...

 

[simple_trader]

Hi ST...

please post some chart of underway WW on infosys....actually i was trying to make it and couldnt. Please elaborate how are you making it....i am myself learning it yet and couldnt find it...

I am not an expert either. Hence asked someone to confirm.

Other one completed on Friday was tatasteel.

regards!

 

[rajputz]

I am not an expert either. Hence asked someone to confirm.

Other one completed on Friday was tatasteel.

regards!

I checked both infosys and Tatasteel on weekly charts.
Tata Steel looks like needs one more week to retrace to downside and then bounce back. Infosys doesnt seem to be right,as it is in perfect channel and near the Support.

I think that we are getting this difference on tatasteel cause you are making the chart on linear price chart and i am making on logarithmic chart. lets c in a week on which chart wolf wave acts rightly. I am also posting the weekly chart of both Tatasteel and infosys.