Manoj's Trading Diary

[trump]

There is 1 more afl which I use which plots Gann Levels and credit goes to its creator (tradingwithme.me)
I have tried attaching it here but its not allowed I dont know why so you guys can download the afl from the website mentioned above if you are interested.

Thanks

tradingwithme.me is not opening, dunno whats wrong, any help appreciated .

 

[manojborle]

tradingwithme.me is not opening, dunno whats wrong, any help appreciated .

it was my mistake , it is http://www.tradewithme.me/

 

[manojborle]

Thanks a lot monkeybusiness Bhai, rtd all set with your help

Sent from my ONEPLUS A3003 using Tapatalk

 

[monkeybusiness]

Thanks a lot monkeybusiness Bhai, rtd all set with your help

Sent from my ONEPLUS A3003 using Tapatalk

Welcome Sirji

 

[manojborle]

Nifty has already confirmed range 9921-9687 (Unless it breaks 9687 tomorrow without going above 9854)

 

[varunkochhar]

On what basis have you calculated this range. If you go by your charts also then the range to watch out is 9700-9871. Why wait more for confirmation. (Though i do not trade Nifty but waiting for 50 points more is too much) Just my thoughts and views as i do not trade Nifty.

 

[timepass]

Maybe it will just do ding-dong till the RBI announcement

 

[varunkochhar]

TP ji the volumes which were added at lower levels on Thursday are suggesting a very big upmove.(Could be a 50 basis point cut)

 

[manojborle]

View attachment 22517

 

[manojborle]

On what basis have you calculated this range. If you go by your charts also then the range to watch out is 9700-9871. Why wait more for confirmation. (Though i do not trade Nifty but waiting for 50 points more is too much) Just my thoughts and views as i do not trade Nifty.

Varunji I follow very simple principle of 4 swings inside a swing to confirm range. Reason is generally there will be either pullback (2 swings) or complex pullback ( 3 swings) in a swing.
Nifty has already completed 3 swings so its a complex pullback . Now if it breaks 9854 tomorrow that will be 4th swing and that will confirm range for me.
Even if it doesnt break 9854 but opens with a gap up that will complete 4th swing and range will still be confirmed.
If it opens near previous close and goes on to break the 9687 without forming intermediate swings then the Downtrend will continue (as if it was complex pullback).