Thread by @JustNifty

Premarket label..
At close yesterday,the vth wave was unfolding which is likely to test 8938 min. & could go higher too to 9050-9100
And, "IF" it holds 8700 approx., wave sub-dividing, the green scenario, could unfold
Hence, look out for the retrace of the last rise from 8454🙏😀

This retrace is critical for the day...

Sub-wave labeling of the 5th wave.. AFter another high, 5th is likely to end. On a more bullish scenario too, 1st of the iiird wave would end and the retrace from 8454 to the "new high" would come into play.

Prepare yourself accordingly.

ist of 5th was from 8454 to 8732 = 278 pts
iiird wave has done from 8607 to 9039 = 432 pts.
whenever the vth of 5th starts, it will do approx 250-350 points...
ivth should'nt touch ist wave top of "8732" which would be the SL.

Revise the SL to 8880 or 8900.

This trendline break @ 8770 would be critical...

As per "VF" table, no buy trigg. but a sell has been trigg @ 8808..

Identifying the end of vth of 5th wave provided with an excellent low risk trade..
Despite excellent RBI measures, the news has been factored in the prices and it was "Sell on News".

Hope it helped.😀🙏

A pause after the first fall from 9039 to 8538 to 8744 & the fall resumes now..

One of the easy way to initiate a trade and manage it is to draw simple trendlines/ channels of your chosen t/f as well as Risk profile.

Simple makes money almost everyday.

Befriend this simplicity..😀😀🙏🙏

Another demonstration of the utility of "simple strategy" - protects your profits & initiate a trade...

Choice is yours to close for the day..