I trade based on the following Assumptions.
1. FII's are a force to reckon with. They can move the market in any direction by their money power.
2. Open Interest in Nifty Futures and Options can be used to identify the direction of the market to certain extent.
3. I follow other blogs owned by EW analysis experts. I find EW analysis reasonable although it cannot be followed blindly.
4. Based on current economic scenario, I am bearish on Indian Market. So I may sound bullish only during over sold status and otherwise mostly I trade on short side. During uptrends, I wait to short at high levels rather than going long.
1. FII's are a force to reckon with. They can move the market in any direction by their money power.
2. Open Interest in Nifty Futures and Options can be used to identify the direction of the market to certain extent.
3. I follow other blogs owned by EW analysis experts. I find EW analysis reasonable although it cannot be followed blindly.
4. Based on current economic scenario, I am bearish on Indian Market. So I may sound bullish only during over sold status and otherwise mostly I trade on short side. During uptrends, I wait to short at high levels rather than going long.
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