Nifty - Update

I use to update my blog once in a week, very rare in between updates( Regular Trackers Might Know it) ! For the regular continuity (Only Nifty) I am giving updates via E-Mail (sgprabu85@gmail.com) for the Regular Trackers. one guy raised a question about My latest Nifty probable internals Click Here ,
For his questions Here the answer goes, some of  my E-Mail Updates 

Please Refer the highlighted lines. 

Commentary For Sep 12 – Sent By Tue, Sep 11, 2012 at 5:45 PM

Make or Break? The action formed an engulfing bull candle with reasonable volume which indicates bulls are resuming their momentum. Gap down open cancelled out our sell trigger and just postponed the bearish setup. However we are still below the level of 5400(close). Technically, Nifty hovering in the Key supply zone with high volatility. There are some couples of questionable price developments spotted on hourly chart. So wait for some time to initiate short or long positions. Aggressive traders can hold shorts with the stop of 5400 (close) or 5450 (intraday). Slide below 5360 will add strength to bears.                 

On the upside Nifty faces resistance at the 5400 – 5450 levels. The 5360 – 5300 are important support levels for Nifty.

Commentary For Sep 13 – Sent By Wed, Sep 12, 2012 at 6:01 PM

Base @ 5390 - 5330. The action formed a rising window candle with high volume which indicates bulls are in the momentum. As we doubted about recent price development now internal wave structure got changed to positive. However we projected earlier two legs perfectly; from 5448 to 5220 then 5220 to 5365 levels. Technically, Nifty surpassed the supply zone of 5400(close). From here short term base placed at 5390 – 5330 band. As long as prices stay above it they are likely to trade positive towards 5500 levels initially. The daily oscillators placed with neutral sign.                  

On the upside Nifty faces resistance at the 5454 – 5500 levels. The 5390 – 5330 are important support levels for Nifty.

Commentary For Sep 14 – Sent By Thu, Sep 13, 2012 at 5:52 PM

Complex Leg. The action formed a doji candle in the north zone which indicates bulls are losing their momentum. Technically, Nifty stays above the short term base band of 5390 – 5330 levels. Today’s Market breadth was weak, AD ratio fell down from 1.40 to 0.67 which leads to high volatility. As per wave, the current leg is moving with complexity and the internals are not clear, so wait for some more development to capture the bigger trigger. However as long as prices stay above 5390 - 5330 levels they are likely to trade positive towards 5500 levels initially.           

On the upside Nifty faces resistance at the 5454 – 5500 levels. The 5390 – 5330 are important support levels for Nifty.

Commentary For Sep 17 – Sent By Fri, Sep 14, 2012 at 6:32 PM

Event Gap! The action formed a rising window candle with high volume which indicates bulls are resuming their momentum. Nifty moved above the initial expected level of 5500, now high made 5587. Technically, Event gap witnessed in Nifty which adds strength to the bulls. Gap Support place at 5525 to 5445. This support will act as immediate base for bulls. In the perspective of wave, current rise looks like “wave 3” and most of the criteria are meeting, if that is confirmed then Nifty should move up drastically. After attaining the initial target of 5500 now it extending toward 5650.           

On the upside Nifty faces resistance at the 5600 – 5650 levels. The 5550 – 5525 are important support levels for Nifty.

In this you might get a clear Idea about Nifty updates. I have clearly mentioned about internal got changed on Sep 12th for Sep 13th market commentary. Nifty closed above 5400 on Sep 12th, generally closing stoploss means no need to wait for the 3.30 or next day to exit, One can look around 3.20 - 3.25PM  if the price hits the stop and trades below for buying stop / above for selling stop then one should exit. But in this case Nifty given another opportunity to exit on the next day i.e 13th Sep . After this if anyone holds the shorts then we can call them as a ??????????

Actually In wave Internals are always changes often, it have many alternate wave counts. Guys having some little idea about wave theory might understand the things better.it won't give you one line idea like "Buy - Stop - Target". If my internals got changed then automatically one can stick with Short to medium term counts posted on july (Click Here)

To See all my Nifty Posts (Click Here)

Thanks
-Rdgs
GAJENDRAPRABU
sgprabu85@gmail.com
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