Nifty ST EW counts update contd...

Nifty completed consolidation by hold 2 days back low (7733) and seems wave 3 will unfold in coming days to achieve higher target.

Counts are as follows:
1. 7551 - 7853
2. 7853 - 7733
3. 7733 - Unfolding...

SL should be wave 2 low (7733 - assuming low is done, else can retrace more) as per EOD counts. On lower TF if Wave 3.ii.c completed today then today's low (7777) would be an ideal SL.   

Nifty ST EW counts update

Nifty completed B/b wave @ 7551 and now B/c is unfolding as follows:

1.    7551 - 7853
2/a. 7853 - Unfolding. May find support @ 7738, 7702, 7666 

Lower TF suggesting 2/a is done and Nifty may hold @ 7738. 2/b and 2/c will unfold in a day or two, then bigger 3 wave will start unfolding for higher Target.

Probable Nifty LT EW counts

Nifty EOD chart wit probalbe EW counts. Donno bout the time.

Cup n Handle Pattern forming...?

It seems Cup n Handle Pattern forming on chart.

Lets see how it unfolds...

Nifty Futures Intraday Trades

- Nifty Gapped up today but retraced 61% of last rise. Forming Bullish Engulfing pattern 1^st long trade triggered.

- Triangle broke upside, retested the TL and rallied till the end.

- I’ve been busy in last two days, hence updating NF Intraday Trades now.

- Both the days short trades were triggered.

- 09 December 2015.

- ORB broke downside and short trade rallied till the end.

- 08 December 2015.

- ORB broke upside but again fall back in range; Stayed in range for 5+ hours.

- Meanwhile price retraced 61% of days range and triggered the short trade.

Nifty Futures Intrday Trades

- Nifty Gapped up today but Open,High was same hence Sell with High as a SL.

- Break of ORB was a short signal.

- Nifty found support @ 7792 (Level between S1 and S2).

Nifty Futures Intraday Trades

- Nifty opened Gap Down; Small 47 points of range. Overall No Trades for the day.

- ORB broke both side but seems buying and selling happened.

- Inside Bar formed on support, resistance level, could be good if traded for small point’s.

Nifty Futures Intraday Trades

- Nifty opened Gap Down today; ORB broke and made new low in first hour itself.
- After four hours of consolidation Pin Bar formed, breaking TL 1st long trade triggered.
- Nifty retraced 61% of the last fall and forming Inside Bar, 2nd short trade triggered.

Nifty Futures Intraday Trades

- Nifty opened @ high and stayed below Open, High for around an hour.

- ORB broke, made new low and bounce retraced 80% of the range.

- 1st short trade gave 40 points.

- Nifty found support @ Pivot (7804).

- 2nd long trade gave 65 points.

 

Nifty EW Analysis

Today Nifty's candle formed a PKPR (Perfect Key Positive Reversal), also it’s above Friday's Swing High. Seems there are high chances of reversal from todays low. On Daily chart Nifty EW suggesting B has done @ 7714 and now C is unfolding, which may complete around 8500+ level if my analysis is right.

Let’s see how it unfolds...

As LT is in downtrend, always have a SL/TSL for all positions to protect Capital and Profit.

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