NIFTY; Losing its Rhythm of downtrend. Even if price falls the Rhythmic structure has taken a Pause. Tough to explain these things: but in (Gann Theory) there are TIME and SEASON for Everything. The TIME for now is to be more watchful on short trades. The TIME SETUP: is suggesting a Temparary bottom till 18th,May, and then a counter rally till 3rd,June. For now working with this setup would update if any modifications are made during the week. A counter move is imminent not possible to neglect that. But better to wait for a conformation from MARKETS. On NIFTY zone of 15,400-15,550 is a strong zone which could trigger a counter move on upside. Any close above 16,100 also would conform upmove. I was the One who was holding shorts at 18,100 and openly shared my Trade on 4th,April, that post is still there: you should reed that. And not only that do reed all my posts from 10th,March to 4th,April I also communicated on 12th,May when I took majority portion of profits from my short trades. You have to be patient and have to keep conviction on what you do. I share here what I see in market based on my understanding on Gann theory. There are few rules which were written 100 years ago. Just have to apply them. And rest leave to markets. It takes time to develope confidence on the MATHEMATICAL Calculations. My view is not based on the debate of oversold or over,bought conditions of market. To be very clear, the upmove which we would vitnes would only a counter bare market rally which would once again Trap many Traders. This applies not only for NIFTY; Even U.S. MARKETS would play out the Bare Market Rally. There is no point giving 14,000 Target at 15,800 the real catch is when you maintain those Target at 17,000. Once this counter rally completes, we again would short this market for our long pending target of 14,400 on spot. So stay tuned. And cut the noise. I would continue to follow my setup. As a Disclaimer: personally taking positions on June calls. Let’s see how it goes!”
NIFTY, not out of woods yet. Has to fulfill 1 criteria out off 2 which was mentioned in morning. Either a test of 15,400-15,550 on downside or a close above 16,100 on upside. To play pullback wait for 1 thing to happen. TIME bearish till 18th.
gann,insides 