RIL completed TD Seq Sell (CD13) yest, today it has red candle. Always seem to get pullbacks here.
TD Setup started on 13-may. for the sake of SL it is 3270, not trading but will observe it. (cmp 3170) R:R is 1:3
bhai after any count complete, we usually wait for trend reversal. so if Sell appears, to short we will wait for a down day. Another conservative approach is to wait for bear flip but the cons is lower entry and wider SL.
Does anyone see a TD seq Sell in Nifty in the following pattern:
NS monthly 9-13-9
NS weekly CD13 completed 2 weeks ago but still no red candle
NS daily one CD13 completed 2 days ago and a running count of another setup count that is at CD10
so in Daily, 15-jul CD13 printed but we had higher nifty highs. Today is possibly first bear day. bear flip today is 24502 and and 1 day forward is 24600 levels so need to watch out if these levels break.
Also, in general thread on may 22nd i posted metals top appearing in TD. nifty metal was as 10K big round number. it never traded higher but took a month at that level but yest/today is very decisive correction in metal sector. 9300 cmp
usually cyclicals can have deep drops.
At the time of analysis, nifty was 24650 range, now nifty 24500 is hanging on a thread.
Need to reclaim 24600+ if trend up is to continue but for now its not looking good.