Thanks, will surely keep eye on it. Let see for mkt on Tue, I had found 3 major hurdles for Nifty two of them are critical range, u may also call supply zone, was 5360-580 & 5430-5450 and third one is 5400 itself a good resistance. So upside seems capped till expiry and giving sense expiry seems between 5350-5450 or precisely near 5400 mark if no major political hurdles take place.
anyway, found out that there is no time relationship between wave 1 and wave 3 but price connection is still there. Wave 3 min. Tgt is 1.62 times wave 1 and wave 1 was 43 pts in 10 days so assuming a 1,62 times time and price(min), TM should definitely reach 272 before the end of month,if not next month.
That was the close the day it fell from recent high of 246 and thats why all shorts were built today in the run up to 240. These shorts will be covered once it closes above 239.3.
That should be the most significant resistance for TM before 254. I think TM actually held up pretty well today. Considering the OI built up on DVR, TM should do well tomorrow. Expecting a close above 240.
then plz share it... I am getting sense if somehow we saved 5350 tomorrow then pic will be very shiny from tuesday (i.e. to be above 5400 mark)... well will have a look and share in M Bells late night.
Thanks, my view was simple, ppl are expecting old days, but to my view those days are gone... if you remember when TM was falling from 252 I had suggested to you & Guhans ji to enter into DVR instead. though both revolve around but risk factor is less in DVR. I dont have position in TM, just by chance today I bought 260 call @0.80. Hope you would have remember my reply to you regarding Fibo, it was max 260-272 if think only one sided (which is not possible).
Regarding OI, today ppl have created fresh shorts not in TM but in mkt, as 5386 was resistance and second one is 5400 itself, so as told in my morning bell today bears will active and will try to push Nifty towards 5350 and try to get advantage of both resistance + long holiday as margin traders will also need to windup their positions... so I am still bullish as we have saved 3 attempted 5350.
you need to change ur broker if you wanna make money in FNO... becoz sometimes we need to @cost, that mean you will still lose aprx 250/-... once you enter to FNO, you need 250+ move in that... you can also find various options at web too.