Flashback
Although nifty did not come upto short level, enterprising readers would have made a killing in nifty short today with the levels given.
BNF short trade was in the money all the time.
Reliance crashed to second target. All in all a superb week so far for us.
No trading levels for tomorrow
There are no trading levels for tomorrow. After 3 days of superb movement it might be time for nifty to take a pause.
Although much will depend on how dow trades today, I for one will be taking a break tomorrow.
Some interesting questions from esteemed readers and responses
Over the week I received many interesting questions from esteemed readers. I was too busy to respond to many of them.
I use this oppurtunity to post those questions and answer them.
1) Where do you see nifty by decemeber expiry ?
One of the best questions.One area that I am not good at is time and price projection.
Though I try to make it up by relying on fibonacci time confluences, I have to say my guess is as good as yours.
Now looking at nifty from current levels, using fibonacci confluence levels, for a trend change to +ive we need a weekly closing above 5100.
On the downside 4750 is a strong support region, and after that 4300. I shall present a detailed analysis with chart on the coming weekend.
2) I still hold 20% nifty bees. Would it be wise to exit ?
Well this is a rhetorical question. Was my post on 22nd october untimely or not clear?
3) Can you give trading recommendations for Bank Nifty just like you do in nifty?
I definitely can. However because of the inherent volatility, it is extremely difficult to give overnight recommendations
for bank nifty. However many of you have writen in to tell me how beautifully the levels given are working. That is the exact intention.
A good, experienced trader shall be able to print out the almighty dollar with those levels. So statusquo shall be maintained on BNF.
4) Can you give support and resitance levels for Nifty future just like BNF?
Are you trying to suggest that the trades recommended in nifty are bad? Would love to know why one would require additional levels.
5) Will you teach trading techniques?
Well i have already demonstrated practical application of fibonacci confluences, both price and time, how to trade BNF pivots etc etc.
It is upto to the reader to build on it further. If one is looking for a 'from the scratch' teaching model, i am afraid it is going to have to wait for a bit longer.
How long?? Hey i already told i am weak at time projection ;-)
6) Trading by your levels alone one can make a decent profit. Can you provide levels for gold too?
Well, since the blog started, the profit tracker tells me, a reader would have made 10L + in trading 2 lots of nifty future and 1 lot of stock future.
I would say that is rather 'indecent' profit comapared to what the average Joe on the dalaal street makes.
I already made the announcement about commodity levels.
7) Why is this site free?
This has to be the best question ever. I blog out of passion and as a way of expressing myself.
However if any reader wants to donate he/she can do so in two ways
1) Provide the website link to friends, family and everyone you know.
2) Get us some advertisements to be placed on the website
I believe i have answered all the questions i received to the fullest extent possible. Do keep the queries pouring.
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