As My Stand on Market remains Bullish NIFTY continues to Scale Higher. From 1 way Rally since 9330 is Crossed not a single Geometrical Cycle has turned Vearish. The Long Trade which we took since 9330 that same Trade positions SL is now at 9840 on Spot. In between Profits were booked several Times but during the entire Rally I never Preempted any Top or Bottom. As a Gann Trader I am not allowed to do that its upto Market as a Traderr our Risponsiblity is to be with the Trend rather guessing Tops or Bottoms.
Now when NIFTY has moved above the 10000 Mark the thoughts running around Everyones mind is what next from Here. Well the Answer Lies in Harmonic Waves External Harmonic Waves Today has given a Major Breakout. The Target of this wave is placed at 11200 on Spot. Yes 11200 but need to understand that this Target is not coming in next week or in this month. It will take time the motion of wheels would Eventually take it to 11200 in between there would be some severe corrections but those would be opportunities to add for Long Term Traders.
No Chart Pattern and Technical Indicator would signal a Structural Target of NIFTY at 11200. But The Gann Harmonic Waves Analysis hass this clear message with them. As far as short term Trading is concerned the Trailing SL was updated on my Social Media Accounts in Morning. We had moved up our Trailing SL at 9970 from 9840 yesterday.. The point to consider is that Everything in this Planet hass to follow the Law of Gravity including Financial Markets so be prepared to Edgest your trade according to it.
Disclaimer views expressed in this Article are based on my Research on Gann Theory and the Natural Laws. Do understand the risk involved in Trading before taking any trades.
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