The problem which is faced by all NIFTY TRADERS is common in the sense of where to enter the Trade. As I posted earlier on the shift on long term structure of NIFTY has turned positive from Negative in previous week. So now when there is clarity on long term structure it’s now wise to follow the trend using the short term cycles.
On todays morning at the price of 12000 the short term setup was overstretched. Because nifty was way ahead and way far from it’s short term supports. Currently multiple short term cycle supports on NIFTY are placed in the zone of 11720 to 11760 on spot. Which until holds can take NIFTY Higher till 12060 and 12240 in coming days. It has been an extraordinary rally in past 15 days in markets. So until these supports holds it’s better to avoid any short trades accept Intraday because Intraday is totally a different game which is played for 60 to 80 points of profits
Lot of discussions are going around on High valuation of markets. But this things are less relevant in Technical Analysis. So as long as the trend is up it’s up so just chase it. There were multiple reasons with us as Analysts that we avoided aggressive bets on markets in the range of 11400 to 11800. Now when we have crossed it we have to respect it. And follow the primary trend.
Again markets are uncertain by nature. And they would continue to be that way. Our job is only to make the profits out of it. Because at the end of the day it’s just the profits which matters. The bottom line as we call it in business.. and everyone have a process to follow to deal in any business. The process which we follow is given us by sir Gann. Which has given us great returns over the years. And would continue to do well in future as well.
Disclaimer views expressed above are personal. And are Subject to change with time. Any Trades taken with reference to above Analysis has to be at your own risk. Trading in Financial markets is always subject to risk. So dont forget to consult your Financial advisor before taking any trades.
gann,insides 