Nifty Update- Air Bags needed to avoid serious crash.... Air Bags can really help you to avoid serious unexpected crash which comes with its own pros & cons, but one can feel its importance only when passed through situations where it is needed most. To continue further from my last update…. Keeping your profits intact with trailing stop losses at the level of 8364(a-wave high) would have acted as airbag in current market situation. Bang On…we missed our target of 8460 on top by 15 points & yesterday Nifty made a high of 8445 which comes very close to 76.4% retracement of down move from 8627 to 7962…. Double Bang On…for the path shown on 28th Dec2014, where it was said that we shall see a jump first in the zone of 8460—8500 which was missed by 15 points yesterday and shall move in downward direction to the levels of 7700—7800. Today market opened gap down forming an acceleration gap to continue its yesterday’s fall, once the zone of 8170—8185 is taken out, we shall fall further to make a new low & breach earlier low of 7962 levels. Global Scenario: S&P 500 is down almost 3-4% in 3-4 days, where yesterday’s selling pressure was strongest & along with Dow Jones both of them have retraced approx 62% of their previous rally suggesting possibility of bigger damage in coming days. Warning: Futures contracts are leveraged instruments. Consequently they create potential for higher rewards but also substantial risk of loss. For best success, you should never commit more than a small portion of your available risk capital (perhaps 5%) to any given position. Some of the opinions can be wrong. You should not act on any recommendation unless you can afford to lose the money you place at risk. You should not place at risk any money earmarked for necessary expenditures.
Posted on: Tue, 06 Jan 2015 05:33:12 +0000
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