THERE ARE 3 POSSIBILITIES IN NIFTY
1. THE UPMOVE FROM 10012 COULD BE THE START OF A NEW IMPLUSE
2. THE UPMOVE FROM 10012 COULD BE THE B WAVE OF ABC CORRECTION WHICH STARTED FROM 11760 AND A WAVE OF THIS B WAVE OF THE ABC CORRECTION STARTED FROM 10118
3. THE UPMOVE FROM 10012 COULD BE THE B WAVE OF ABC CORRECTION WHICH STARTED FROM 11760 AND C WAVE OF THIS B WAVE OF THE ABC CORRECTION STARTED FROM 10118.
TRADING PLAN
A. TRADING PLAN FOR NEXT WEEK WILL REMAIN THE SAME FOR SCENARIO 1 AND 2. THE TRADING PLAN IS TO GO SHORT ON NIFTY FOR A TARGET OF 10440, WHICH SHOULD BE REACHED BY 19 NOVEMBER, IF NIFTY GAPS DOWN ON MONDAY. SL TO BE MAINTAINED IS 10695. IF NIFTY GAPS UP, THE TARGET OF 10440 SHOULD BE REACHED BY 21 NOVEMBER. SL TO BE MAINTAINED IS 10760.
B. IF SCENARIO 3 PLAYS OUT, NIFTY HAS A TARGET OF 10120 AND SHOULD BE REACHED BY 26 NOVEMBER. THIS IS THE MOST PROBABLE SCENARIO AS OF NOW SINCE MOMENTUM SEEMS TO BE WANING.
1. THE UPMOVE FROM 10012 COULD BE THE START OF A NEW IMPLUSE
2. THE UPMOVE FROM 10012 COULD BE THE B WAVE OF ABC CORRECTION WHICH STARTED FROM 11760 AND A WAVE OF THIS B WAVE OF THE ABC CORRECTION STARTED FROM 10118
3. THE UPMOVE FROM 10012 COULD BE THE B WAVE OF ABC CORRECTION WHICH STARTED FROM 11760 AND C WAVE OF THIS B WAVE OF THE ABC CORRECTION STARTED FROM 10118.
TRADING PLAN
A. TRADING PLAN FOR NEXT WEEK WILL REMAIN THE SAME FOR SCENARIO 1 AND 2. THE TRADING PLAN IS TO GO SHORT ON NIFTY FOR A TARGET OF 10440, WHICH SHOULD BE REACHED BY 19 NOVEMBER, IF NIFTY GAPS DOWN ON MONDAY. SL TO BE MAINTAINED IS 10695. IF NIFTY GAPS UP, THE TARGET OF 10440 SHOULD BE REACHED BY 21 NOVEMBER. SL TO BE MAINTAINED IS 10760.
B. IF SCENARIO 3 PLAYS OUT, NIFTY HAS A TARGET OF 10120 AND SHOULD BE REACHED BY 26 NOVEMBER. THIS IS THE MOST PROBABLE SCENARIO AS OF NOW SINCE MOMENTUM SEEMS TO BE WANING.