UPDATED: The analysis has been updated keeping in view Dow Jones is up 300+
New week starts here, Where will Nifty50 go this week?
What is Nifty50 upto this week.
We have Mahurat trading on 12th November around 6:15 PM.
But what happened in the past? Mahurat Trading analysis for 2022 and 2021:
In 2022 Mahurat trading happened on 24th October 2022, started around 6:15 pm. Here is the chart:
In 2022 we went lower by almost 140 points from the time Mahurat Trading started.
The euphoria ends in few days. A time for introspection.
In 2021 Mahurat trading happened on 4th November 2021, started around 6:15 pm. Here is the chart:
In 2021 we went lower by almost 149 points from the time Mahurat Trading started.
The euphoria ends in few days. A time for introspection. In just 6 days it all blows.
What really works here then?
Chart analysis, stop loss for every trade and perhaps discipline.
In 2023, Mahurat trading falls on Sunday, 12th November 2023.
We may go higher, perhaps and the a pull back. I have the charts ready for Monday, 13th November 2023 below:
I am still looking for pull back, and we know it is festivity time and Diwali is a big occasion for all of us in India.
Going higher for wave 1 is a possibility but would like a complete ABC pattern for wave 4. This could mean if A and B are done, then we still have wave C pending.
Note: Check out DXY USDX chart - we still have more room upside there.
Updated:
Should open at wave 3 then pull back for 4, followed by upside towards 19587 levels. Can go higher? Will take a day or more to test the 19500 resistance zone.
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