It seems wave (A or 1) is completed at 10565 and retracement levels for wave (B or 2) are given in chart. which can be used as buying zone with stop loss of 10333 which is of almost 100 points so plan your trade by analyzing wave pattern on live chart tomorrow. Good luck.
Sell banknifty for 120-150 points Target 25730-25580
GO AND SELL 25900 CE-26000 CE-26100 CE-26200 CE
GI AND BUY 25400 PE-25300 PE-25200 PE-25100 PE
Exit is upto your choice
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EXIT BETWEEN 25620-25580
NIFTY broke below a crucial reference point, more importantly it has a high at a pivot swing low ( remember the idea of supports turning into resistances) :)
well here is a low risk short idea looking for a 100% retracement of the swing- this points to a target of 10200-150. the idea is we had retraced fully the journey made from 10500-10950, form a box for that ...
Weekly chart-- a Hammer has been formed which may indicate reversal. On the daily chart today a big bullish candle has been formed. Defeat of BJP has been ignored by the marketmen, it seems. Nifty has halted at 50 DMA. If tomorrow price moves above 50 DMA, Nifty will face resistance at 200 DMA.
the developing nation like india with a world of room to grow and the measure of the growth on the indices is about to paint the reality. nifty 50 taking vital support at the upper trend line after breaking out. macros and micros will influence the time taken to break out
In Short Term Moving In Downward Channel.
At Resistance of Upper Line of Channel.
Bearish Cloud Acting As Resistance.
Trend Line Resistance.
Positional View For Educational Purpose Only.
Other Details Mentioned In Chart.
Please Consult Your Financial Advisor Before Taking Any Decision.
I am not SEBI Registered Financial Advisor.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB
PS: Only Long "if" (Focus on ...