Trade Set-up for 13.2.2012

To recall, the current 5 wave form is being counted from 5078 upwards:



And as shown in the chart above,(v) is in play having so far played out four subwaves in following manner:




And the labelling of the downmove on Friday,from 5427-5341 has been done as sw4 of (v) which moved in following way:





and the last leg from 5341 upwards looks like having moved up in following manner:





Now on the basis of above understanding,let us draw a trade set-up for 13.2.2012:

The most important point,to me is 5363.2


If we open above 5363.2 then the chances of this sw5 upwards from 5341 onwards completing the ideal form(taking it to minimum 5432 and maximum 5455) would brighten up and I would go long with stop loss at 5363 and target 5432.Understandably if we open close to 5400 then not much juice would be left for longs so I would wait for it to cross 5432 and start accumulating Shorts as we move closer to 5450 with Stop-loss at 5460.

And if we open below 5363,that would be an indication that the upwave from 5078 has completed its 5 subwaves and I would go short at every rise with Stop-loss at 5399.
First target for the shorts would be 50% retracement of 5078-5427 i.e.5200---rest as we move ahead-----

That's the way I have planned my trade set-up for Monday.

Raghu.

Disclaimer: All these suggestions are for educational purpose.Trading in Markets is extremely risky.Do your own homework before stepping in.No responsibities if losses are incurred.