This post is for all my followers who trade in Nifty specifically or Indian equity market otherwise. Nifty has broken below my STOP level of 4700 as I had been saying since last couple of posts. So what’s the big deal you may ask? well… it has activated H&S pattern. While I am not very fond of these patterns but they have a good reliability too. So thought of warn you people who think its going to bounce back in another day… just wait you fellas.
So let’s look how market is looking today
Now let’s look at it from the eyes of a wolf
It is making another bull wave… so all the fear, breaking 4700, H&S pattern can be put on rest. and give market some time to move sideways inside the sweet zone (green shaded area). The market can slide all the way to even 4000 I am not doubting that… but I am saying that BUY ONLY ABOVE RED LINE (trending down) and SELL NEAR RED LINE (trending up)
BUY above 4600 tomorrow or above 4500 next Week (26 Dec), Stop at 4000, Target 5800.
Stop Loss = 500 points , Profit = 1200 points
THIS IS A MID TERM CALL – 6 months to 12 months
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