I am not a certified analyst. The charts shown and the content in the blog are for educational purpose only and in no way is a buy or sell recommendation. Readers are advised to use discretion.

Sunday 3 May 2015

Nifty Positional View - 03.05.2015

Positional: Nifty moving down by providing a BPB on last Flip. Although Trend is still down, but -

1) there is Layer on Layer Below the recent Zone. Too many DP confluence.
2) A Bounce is expected ! which may go to 8385 - 8465.
3) If the Bounce breaks the recent Flip & sustains above, one can take Risky Longs for short term for above targets. But keep in mind, Mkt is still SELL on Rise.
4) A Fast downmove breaking below all the layers will call for a Major Fall.

As of now, Don't Short !  It doesn't mean to go Long! wait for the price to come out of the woods..
I am still in my Shorts with SL above Flip Candle. (I will prefer to Go Long here- Risky, but trading is always risky :)


3 comments:

  1. can you teach me how to analyse the nifty. i am new to trading and feeling at loss.

    ReplyDelete
    Replies
    1. Hi Anurag,

      I am a Trader & not a Trainer. Still, if you feel OK to learn from me, you can mail me at deven17@gmail.com & i will try to help you out..

      Thanks,
      Deven Malhotra

      Delete
  2. can you teach me how to analyse the markets the same way. i am new an feel completely at loss

    ReplyDelete