Nifty didn't stretch up to 6269 and reversed from 61% ratio of last fall(6343 to 5972). Yesterday was fantastic example of PIVOT based trading as far as INTRADAY is concern, and for POSITIONAL traders FIBONICA proved best one.Now 6100 is psychologically very important point. Will it break 5972 before expiry?? PE writers @ 6000 strike price will not let it go down below 6000 before expiry at least; if goes then 5946 is to be watched.
3 comments:
NIFTY..taken support @ S2 level..
short covered ..NF 6070...
INTRADAY long same level with days low sl....booking area 6098/6115/6130
SL hits....out of trade now
6212 to 6038 fall 174
Retracement...
23% 40 = 6078
38% 66 = 6104
50% 87 = 6125
Currently NIFTY S2 6047....trading above it....long with sl 6025 for intraday
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