Time Tuned 31 October 2014

Time Tuned Nifty

Time Tuned Nifty for 31 October 2014

Nifty so far has moved as expected. However, the significant  high zone of 1430-1500 on 30 October 2014 may have incorrectly derived.

Consequent calls for looking at opportunities to short must be ignored for now.

The significant high zone may come around 1330-1400 on 31 October 2014.  Which means that a corrective for the entire rise from 7723  may start since then to test 8050 area and may take upto Monday next to next week, considering that next week Tuesday and Thursday are closed days for Nifty. (Thanks Amitabh Agrawal ji)

If that be the case, what will happen till 1330-1400 tomorrow, the socalled significant high zone?

My assessment is that  Nifty may dip towards 8130-8140 band by 1130,  where longs should be initiated for a target of 8230-8240 by the significant high zone of 1330-1400.

At this point, shorts should be initiated for a target of 8050, which may show deeper cuts.

Readers may note that I am presently on move and it is difficult to provide regular updates.  Those trading on these timings must tighten the SLs when the time is up. Better is to close the position.

All the best to all the readers till Monday afternoon of next to next week.