Trading Nifty on 15.3.2012

How do we stand?

Now the moot point is: has B(c) ended at 5498 or not?
1. Till we go below 5373,we can not conclusively say that B(c) has ended.
2. Even if we say that it has not ended,it has to go below 5433 before it begins its last upmove.
3.And this last upmove can not be more than 105 points.

While points 1 & 2 were explained in detail in yesterday's EOD post, point 3 has been derived in following manner:

So
1. keep Trailing stop loss for existing shorts at 5470.1
2.Book profits in existing shorts below 5433.
3.My advice is not to play longs and all rises to be used for entering into Shorts again--

9.27 AM: How have we opened?
TSL for shorts to be moved to 5447
Still better to cover shorts at 5425

10.35 AM

Now,5470.1 is an important threshold.
Remaining below it and going below 5427.9 would confrim that this 3 wave form is getting transformed into a 5 wave form
So two important threshold points:
5427.9 to confirm that top has indeed been formed at 5498
5470.05 breached would mean another test of 5500
11.00AM

SL for shorts now at 5448

Wait for 53770-75 for squaring off your shorts.
I am off for the day as some urgent personal matter has cropped up.
Jai Bajrang Bali !!!