Nifty has been moving all over the places in today’s session. Infact
the volatility was extremely high and there was a sharp reversal from the zone
of 10720 levels. Prices breached the low of 10620 levels on downside as well.
Even during such scenario there was possibility to make money on
index on either side. See yourself the below call given on Nifty for intraday
basis over past few days given to Nifty Intraday subscriber
Following was given on 19th
Feb 2019
NIFTY FUT BUY ABOVE 10715 SL 10655 TGT1 10745 TGT2 10805
Target 1 - NIFTY FUT BUY
CALL GIVEN TGT1 ALMOST ACHIEVED AT 10743
Below was given on 15th
Feb 2019
SELL NIFTY FUT SELL BELOW 10731 SL 10821 TGT1 10686 TGT2
10596
Target 1 - NIFTY FUT SELL CALL GIVEN TGT1 ACHIEVED AT 10686
Below was given on 12th
Feb 2019
SELL NIFTY FUT SELL BELOW 10870 SL 10950 TGT1 10830 TGT2
10750
Target 1 – NIFTY FUT
SELL CALL GIVEN TGT1 ACHIEVED AT 10830
Target 2 - NIFTY FUT SELL CALL GIVEN TGT2 ACHIEVED AT 10750
The above clearly shows that despite of the volatility we are
witnessing prices have been managing to move as expected providing good
intraday trading opportunities.
From positional perspective,
one can follow the simple basic method of looking at the highs and lows of the
daily bar. Unless we see break and close above the previous day’s high the
trend will continue to be negative. In the morning when Nifty managed to break
above 10700 the chances looked high for a positive close but later looking at
the sharp reversal back below 10620 it is time to be alert. Further break below
10580 can result into some serious capitulation across the board.
Nifty daily chart:
From above chart we can see that not a single day prices
have closed above the previous day’s high for 8 consecutive days. This one
basic method provides so much of information. Imagine the power by combining it
with Fibonacci, indicators like RSI, Time cycles, Elliott and Neo wave
analysis.
Nifty is now at very crucial juncture. As per above method
it is now best to stay bearish unless we see close above 10720 levels. Also
break below 10580 will suggests the top for next 40 days is in place as per
Time cycles. So, get ready for next big wave and next two days will be the
deciding factor.
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