Thursday, May 17, 2012

Nifty Moves Exactly As Predicted

In my post on 29 Apr 2012 I had given a call to sell Nifty at 5300 level and reiterated my stand again on 01 May 2012 post. For this sell of Nifty at 5300 level I had given a target of 4850. And Nifty achieved my target on 16 May 2012 with a day low of 4837. On 01 May 2012 post I had mentioned that Nifty will fall from 5300 in five steps and it did just that. Nifty fall trajectory from 5300 level was at follows :-
  1. As the first step Nifty fell from 5280 to 4988 on 07 May 20122.
  2. In 2nd step it rose to 5125 on 07 May itself.
  3. As 3rd step Nifty fell from 5125 to 4869 on 15 May 2012.
  4. In 4th step it rose to 4955 on 15 May.
  5. As the 5th step it fell from 4955 to 4837 on 16 May 2012
The fall to the level of 4850 having been completed, now Nifty is ready to climb up to 5130 level. I hope those who heeded my advice could make profit by selling Nifty at 5300 and covering it at 4850. I also hope traders could reverse trade at completion of wave C and buy Nifty at 4850. Now go long in Nifty till 5130 level with suitable trailing stop loss.