when things are working fine you dont want to over analyse markets and make things complicated for yourself and your subscribers.
As reeders of this post are well aware that my view on MARKETS has been slightly BEARISH since early MARCH, and we had deployed multiple bearish strategies using OPTIONS to accommodate our view.
Since early APRIL our focus has been on selling FUTURES.
as i write this post, i and several of my clients have been heavily short, and during the upmove during late APRIL we have substantialy added fresh positions.
every individual have a different risk appetite so i have to communicate on position sizing to each trader individually.
coming back to near term approach now
Tomorrow on 13th,may we have a minor cycle date for NIFTY If NIFTY gives a daily close below tomorrows low then this time it certainly would break 21700 and once that breaks it would register a medium term reversal which would have severe implications for next few months.
On upside pattern resistance have drifted lower to 22350.
As long as INDEX stays under 22350 its good to move lower towards 21865 and 21640 on spot.
TIME wise next week 13th and 16th would be critical CYCLE DATEs.
both these dates of 13th and 16th would have their different characteristics because they both represents different CYCLES.
those who have understood these cycles using my methods they would easily understand the difference between various cycles, but if you are someone who is not aware on the basic concepts then for you its not that easy to get-in with whats going on, or whats about to go on in coming days!
when it comes to U-S-INDICES they have been slowly inching higher, as discussed earlier holding 6th,may lows on closing basis all INDICES would continue with their positive trend.
New high cant be ruled out, but for s&p price expansion above 5300 5350 is going to be a real challenge.
Because that happens to be a major gann angle resistance on monthly charts.
Lets see , intresting week coming up!
gann,insides 