JN's POSITIONAL PICKS !!!

Always have a top-down approach ! First track sector index and then its components! When IT index retraced till golden ratio a good entry again in Infy and tech m. Watch IT index resistance given partbook and trail . Simple !

Low 28300 again ! Retraced till exact golden ratio and bounced 700 points ! Infy/tech m again bounced 30-40 points from lows in just 2-3 days ! Resistance 29k/29150 !

IT index ..

Resistance continues to be 18730-80 zones as given yesterday ! Cross it ATH !! Chalo bye ! Watch levels given !

Be extremely careful now . Advising only low risk option trading near supports . If you have taken near 18550 partbook and hedge ! Or partbook and trail to 18550 ! Spot simple !!

At Golden ratio resistance . If taken small risk yesterday or near 18550 zones . Partbook or hedge ! Short term Sl 18460 and positional Sl 18040 was given I guess !! View remains the same ! If above short term Sl holds we may hit ATH !

Nifty reality index also has a good support near 482 . Now around 503 .. so low risk stock in reality space ! Leaders remain dlf and Godrej !

Bought sunteck 280 now . Sl 255 ! Target 100 points! Cash !

Fibo resistance on the upside - 38% - 18640 50% - 18670 Golden ratio - 18690-700

After completing 5 waves nifty down almost 200 pts from 18770-80 ! Nifty - resistance now around 18730-80 ! Only close above more ! Support for the day around 18500/450 ! Below that May be 18300/100/040 38% - 18500 50%- 18420 Golden ratio -18330 Bank nifty - double top around 44500 ! Close above it more ! Support around 43800 ! Below that May be 43500/300 ! All spot !

Short term and positional Sl remains the same !! 18460/18150

350 expected 320 done !

Once 5 done ! 100 pts down ! Simple and powerful .. EW !! Lots more to learn ! 😍 Chalo bye ! Traveling time !

310 done out of 350 ! 40 more if lucky !! Do whatever 18460-18770 !

In the above chart wave 3 is shorter then wave one . As per guidelines 3rd cannot be shortest. If 5th extend beyond 19010-20 then counts invalid and presume 3rd of 3rd is subdividing for a large impulse ! Just a study ! If it’s 5th of 3rd then 5th Shd be shortest and cannot go beyond 19k so basically it shd complete anywhere between 18800-19k . Guys I’m not an expert in ew .. even I’m in learning mode !

Ew - above chart view is just a study ! Experts can advise !

Larger tf — if it’s 5th of third from 16900 then tgt comes around 19k !! 5th of 5th from 18060 tgt comes around 18800-810 .

When 5th wave is near completion it’s time to be cautiously long !!! Short term - TSl 18460 Positional TSl - 18150 ! Chalo bye ! See you all next week !

The beauty followed !!!

18460-18710! 250 points done out of 350 ! 100 more if lucky ! Trail it to 18460 ! Safe is book out ! 250 pts a week is good enough I guess !! Resistance here 18735-40 spot ! Aggressive trail !! Positional Sl for long from 16800 remains the same at 18150 !