Nifty Trend based on Option Analysis
The probability of going up is 52.36 % and going down is 47.65 %
TREND IS UP
Nifty ROC2 : daily basis
Long can be taken if Nifty is able to sustain above 5242.7 on daily basis
Trading as per Elliot Wave Theory
Go Short at / below 5243.6. Stoploss at 5248.84. Target 1 is 5212.57.
Go Short at / below 5231.75. Stoploss at 5248.84. Target 2 is 5207.35.
Go Short at / below 5231.75. Stoploss at 5248.84. Target 2 is 5207.35.
Intraday Calculation Based on Volatility
Buy at / above 5218.5 for following Target and stoploss
Target 1 : 5216.82 Target 2 : 5228.53 Target 3 : 5240.24 Target 4 : 263.67
Target 1 : 5216.82 Target 2 : 5228.53 Target 3 : 5240.24 Target 4 : 263.67
Target 5 : 5275.38 Stoploss : 5193.39
My Trading Style
Nifty's pivot point is 5130.
If Nifty is staying above 5230 then first target is 5253 and second target is 5272. After rise if Nifty unable to stay above 5253 then short can be initiated at 5248 with stop 5253.
If Nifty is staying below 5220 then first target is 5197 and second target is 5171. After fall, if Nifty stays above 5197 then long can be initiated at 5204 with stop 5197.
If Nifty is staying above 5230 then first target is 5253 and second target is 5272. After rise if Nifty unable to stay above 5253 then short can be initiated at 5248 with stop 5253.
If Nifty is staying below 5220 then first target is 5197 and second target is 5171. After fall, if Nifty stays above 5197 then long can be initiated at 5204 with stop 5197.
Best of luck.
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