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.As was suggested yesterday, the market did open hugely weak on Global cues. However, the market proved me wrong by taking a one way traffic lane upward, and taking out yesterday’s high. In such a case, the cycle in time on 30, i.e. tomorrow could turn out to be an intermediate high. Considering that tomorrow is an expiry for the derivatives cycle.
In that case, we could have a short term bottom on 5 September.
However, please keep in mind that these dates are purely time projections. And time projections do not make profits. The price does. Therefore, please keep in mind the price, and look ahead to what really happens on the time cycle projection dates.
Plan your trades and trade happy.
1 comment:
It will retrace atleast 50 or 61 % of the fall in an FNO month, no !?
sirji seems to have forgotten to plot fibs of current fall... !
;-)
ketan
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