Nifty 50 opened with a Gap Down of over 150 points and then bring price to low of over 240+ points.
As mentioned in the previous post, we are currently in Wave 3 Mini. It's possible to have 5 Waves reaching 22200. At this point, I'm anticipating a small rebound to finish internal wave 4 before descending to complete Wave 3 (White) and then, in turn, Wave 3 Mini (Black).
Trading Indicator used for Nifty 50
Employing Kiss Bot (Free Indicator) by Falcon Trader on Trading View provides a directional bias, offering an advantage to concentrate on trades with a potentially high success rate. Our stop loss or invalidation points typically align with the wave counts themselves, accompanied by strict Heikinashi Candle exit confirmations.
Volume spikes on 5 min chart are good areas for reversal or bounces and if we are in sell on rise, this gives us good opportunity to enter and exit scalp trades.
Day should start positive for 25th Feb, to complete upside Wave 4, but we should take scalp opportunity near 200 Moving Average on 5 min chart, and look for more downside momentum. I will be adding series of such blogs - comment or retweets are appreciated.
I am looking at some minimum bounce but 22600 levels will be good area to plan fresh shorts tomorrow for 25th Feb 2025.
Some high time frame analysis were done in yesterday’s post. For this week, we are still bearish and looking for opportunities to short.
Post Trade Analysis:
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Starting | Day started with clear anticipation upwards towards wave 4 completion |
Play Summary | We were selling on the rise, shorting every opportunity yet there were some volatility issues which did not work in planning well. Lower time frames were volatile, however above 5 min had a clear structure. |
Ending | Ending was profitable with focus on put option. It could have been better if focus was on bigger wins - like March first week expiry etc. Bias was that tomorrow is holiday so was not too aggressive on taking current week expiry. |
Learning | Higher time frames were validation for bigger trend is important. Mini or Inside Mini waves - Black and White - need to play 2 week expiry rather than focus on current week for volatility. Overall capital return was decent 10% and above. |
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