NIFTY UPDATE

NIFTY, is moving traders right and left of their seats
But for now we, can’t take PRICE seriously, until this CYCLE ends
And there are 2,TIME,CYCLES running at the moment
1 is the HARMONIC TIME CYCLE, which I had been pointing out as bullish cycle till 8th,july
The other one is a weekly cycle, now I will explain you how it came! Under the rules of Gann Theory, a bare market bounce can last approx, 3.5,weeks from lows
Considering 17th,june low we still are in 3rd,week, of this counter trend bounce
So what to do now
TIME would move on it’s own speed
Can’t do much about that
And as Traders we cannot over,turn TIME indications
So there are just 2,options left with us
1st, is to keep approach of going long as far as 15,500 holds on spot
Because as far as 15,500 holds, All Targets remains on table till next week
If that breaks need to re,calculate structure again
2nd,option is to sit,out
For now I would prefer the 1st,option
I wont mind if I end up on a losing trade
If positions are managed wisely this market still could be rewarding
Need to keep options open for few more days