Updated on 15th November 2023 | 12:18 AM
Updated on 13th November 2023 | 11:51 PM
Nifty50 had a great opening during Mahurat session on Sunday (Diwali) and then Monday saw some profit booking and panic situation because of downgrade of US’s rating to Negative by Moody’s, more about it here.
This will have some impact in today and tomorrow’s trading in the US, which we still have to witness. Even though Dow Jones Futures was trying to boost and show buyer’s strength which usually can fade away quickly after trapping retail traders. Perhaps yes.
14th November is a holiday.
We have some up move left before we go down, but this has not been that great today so no carry forward positions.
Please note, there is a way to trade these markets and you can learn more about it with practice and reading or learning about it.
In all cases, use stop loss. I still believe in a model of exiting at the sight of opposite color Heikin-Ashi Candle. Perhaps, you can try back testing.
My basic mantra is never trade against a. Heikin-Ashi candle. That should help you in the long run.
Venus in Virgo has sucked big time though. Can it unlock some surge? Let's connect again after Wednesday.
Alternative count updated:
Seeing rally in #Dowjones, the rally is part of end of a cycle and therefore we still need to be careful. Dow Jones charts were updated before the upward rally and can be viewed here.
Nifty50 will perhaps open gap up,
This seems to be an upmove towards completion of internal wave 3, wherever it opens, we can have a pull back and continuation rally to complete GREEN 3 shown in the chart. Then pull back towards 23.6% to 38.2% to mark wave 4. This overall has been a tricky rally and therefore we are not holding any trades in the upmove towards final targets of 19800 levels mentioned before as well. I am expecting pull backs later as Dow Jones further develops. A healthy pull back later will mark wave 2, should retrace to 61.8% levels.
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