India Nifty—Zero Error Vernier Caliper…99.99% Strike Rate….(90--100 Points Plus)
Today’s strategy actually remind me of a precision instrument which we used in our school days called “Vernier Calipers”—because of zero error which we used to get as compared to metre scale & this instrument used give readings well to mark 1/100th of cms…Vow…
Coming back to India Nifty…as per previous update--:”8595-Invalidation Level & Channel Top”…. 10:10 Hrs Update…It was mentioned that Nifty could bounce to 8525—8535….which it did …we were to take short in that range 8525—8535…What a precision…or magic of 2 ticks above 8536…Nifty made session high at 8537…& there was a sharp fall to make session low @8476.70….Then as per ....
13:50 Hrs Update—We took long with 2 tick stoploss below 8476(Recent Low)..& Look Nifty was up..up…& away…this time it rallies & knocks the door back again of 8525—8530…
Finally at 15:20 Hrs --we were suppose to take short again for intraday in the zone 8530—8535 with stoploss above 8560…unfortunately …Market is open for limited hours…so, we make 90—100 points in all…
Risky Traders have been asked to hold their short positions with stoploss above 8595..High......
Regards, Abhishek H.Singh, CMT
Trade closed manually
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Comments
WaveTalks
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I guess..if Nifty goes below 8440(crucial support) & later 8350 ...that will give some clue & even deep correction could be expected having 8595 as short term top..Regards
ashpats
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Superb Abhishek. In current scenario Nifty is frequently trying to break 8600 on higher side & 8500 on lower side. Who will win.
InsiderB
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I really love the way you gave analogy with vernier caliper... Lol.. 1st 2-mark question in 6th std science book.. Nostalgic days !
WaveTalks
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Hi..Unless Nifty starts Moving above 8600..We have no clue & in between if it brakes 8440 low which is crucial...Then 90% chances are that Nifty will have 8595 as the top for short term..Regards