hi,
@maxy:- There is no point giving targets .Now game looks little simpler.First step Monthly close below 5100 would mean monthly guys will not give major reversal in short period at least.
But as i say this monthly we need to be on high alert as this bull run has given hopes of again a chance of channel break on upside.
Now weekly has hit the resistance and reversed down and we hope that it will continue down only.So major tension of day being in over bot zone but weekly in middle or not so over bot is not a worry.
Weekly has joined hands with daily in oversold zone.
Daily now classically i rely on RSI as i am long term player i enter big and for longer time frame i dont enter in bits and piece on small runs.But RSI always speaks truth RSI had hit Record over bot levels of nearing about 90 and RSI once hitting such levels always meets its lower friend of level of 20.So better see and wait let see how RSI and MACD span out together.
With RSI moving down i can relax my 5100 call sell has again been saved by my belief.Just this time my enter was very early.
Keep an eye on these indicators flow with them.
If any surprises i see i will post them.
thanks sir for the update...will look RSI...for futher trend.
ReplyDeletewhat next now nifty reached towards 5300 and puts 4700,4800 decreasing should we average our puts or buy 5100 or 5200 puts pls advice
ReplyDeleteno putting more money for averaging out any more.
ReplyDeleteLets wait for some time now if you want only then you can buy 5300 put buy after some more rise if any happens.
just let us know the time to buy 5300 put
ReplyDeletesir no any update in feb,plz update when to cover our puts otherwise zero is coming soon if 5290 breakout comes.
ReplyDelete