These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.So far nothing seems to have changed. A huge gap opening was met with selling pressure, which is only normal. The gap was closed immediately, and the Nifty took support on a minor level. I expect that this minor support which is near today’s close, will be re-tested again. I also expect that the previous high, which is shown by the grey band will also be retested.
I had already warned readers about the Nifty approaching several clusters of cycles in time, which could contribute to volatility. As of the technical position now, I could still suggest readers to buy on this dip for a short term peak on 26 April. As the legend on the chart says it all … “could this current move terminate when time and price meet?”
Thursday’s derivatives expiry is nearing fast. Be careful.
Plan and trade happy.
1 comment:
sirji, at what level shd we start buying and till what level shd we cntinue to buy ???
also if you could plot the time cycles...
reg
ketan
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