Time Tuned Nifty
Time Tuned Nifty for 02 December 2014
In given situation, the time tuning has become complicated. Nifty has scope to go further down to 8520. If it has to happen, it may happen by 1100. Simultaneously, Nifty may also test or breach the previous high. If that has to happen, it may happen around 1055. Both times are very close to each other. However, if volatility precedes the RBI policy, both may happen.
I am moving to larger time frame to get some clarity. In larger time frame, the current upmove may finish around 1055 and hence my bet will be towards long side till this time. If it does not happen at this time, the possibility of any further high will shift to Wednesday ie 03 Dec 2014. However,, if the high does come around 1055, the next low will be defined for 1100 or later.
Crucial support is at 8520 and resistance is at 8580. Breach of these levels will indicate where the target lies.
Rest as the moves progress tomorrow.
All the best.
PS. At larger TF, any major low will come after 6 to 7 trading sessions.
Time Tuned Nifty for 02 December 2014
In given situation, the time tuning has become complicated. Nifty has scope to go further down to 8520. If it has to happen, it may happen by 1100. Simultaneously, Nifty may also test or breach the previous high. If that has to happen, it may happen around 1055. Both times are very close to each other. However, if volatility precedes the RBI policy, both may happen.
I am moving to larger time frame to get some clarity. In larger time frame, the current upmove may finish around 1055 and hence my bet will be towards long side till this time. If it does not happen at this time, the possibility of any further high will shift to Wednesday ie 03 Dec 2014. However,, if the high does come around 1055, the next low will be defined for 1100 or later.
Crucial support is at 8520 and resistance is at 8580. Breach of these levels will indicate where the target lies.
Rest as the moves progress tomorrow.
All the best.
PS. At larger TF, any major low will come after 6 to 7 trading sessions.
8520 remains intact so far. Holding longs with SL 8450, which will shift to 8519 when 8550 is taken out and sustained.
ReplyDelete1220 hrs is next high zone.
ReplyDelete1340 high zone after that. A minor correction may come between these two zones.
ReplyDelete