Nifty Trading Strategies

Daily Trading Strategies 15/02/2017
Daily Level	Nifty
R3- 8848	Buy	Buy above 8818 with Target-8831/8848 with Stop Loss-8808. Note: If open price is below 8818 than order is active
R2- 8831
R1-8818
Resistances
Support	Sell	Sell Below 8875 with Target- 8761/8744 with Stop Loss-8885. Note: If open price is above 8875 than order is active
S1- 8775
S2- 8761
S3- 8744

Comments

Hindalco Outlook: Trend reversal candle Doji on top

Hindalco is trading almost near life time high where we can see a Doji and Doji star formation with a confirmation candle, Doji and Doji Star are completely a reversal signal for short period of time and voulme also decline for past two weeks (low demand on top). If stock open on Monday near Friday close or below and able to break 213.25, this reversal trend will continued, Try to apply this strategy with volume below 213.25 and immediate support levels are on 210.35/207.30 and strong support 205.20 level and resistance levels are 216/220.20/224.80

WTI CRUDE OIL ON NEAR IMP LEVEL OF $100.74 FOR SHORT TERM CRUDE CAN SEEN $98 LEVEL AND WE CAN SEE A DOJI CANDEL

Nifty Elliot Wave theory explained with projection of wave 4

NSE:NIFTY Till date Nifty on wave 3 on larger degree of Elliot wave Explanations:- ** If we subdivided wave into shorter degree or in 5 wave its match with Fibonacci retrenchment levels in all subdivision of wave 1. ** On wave 2 which is a corrective wave also match with Elliot wave rules and its take corrections within 50% of wave 1. ** On wave 2 subdivision are also match with corrective wave patterns. ** Now comes to Wave 3 which is need to match with Elliot wave theory where Fibonacci levels should be 161.8% of wave 1 , which is 11340 approx. ** If the wave 3 subdivided into shorter wave degree, we can see the 5th wave is forming and it has to be within 1.236-1.618% of wave , equal to wave 1 or 61.8% of wave 1+3 . ** So now comes to conclusion on 5th wave * Either 1.236- 1.618% Fibonacci levels of wave 4 ...

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