AbhishekHSinghCMT

Auropharma-You don't Know-Fall@792

NSE:AUROPHARMA   AUROBINDO PHARMA
Wish you Happy Holi & May this festival bring lots of colors in your life!!!


Education & Trading Idea


Wedge
  • Wedges are a multiple price wave reversal pattern. Wedges form when the waves of an asset move within a narrowing range, angled either up or down.
    When the pattern completes, and the price breaks out of wedge , it is usually in the opposite direction the wedge was pointed.
    This is why it is called a reversal pattern.

Books on Harmonics
Harmonic Trading Volume 1 & Volume 2 - Scott Carney

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Trading Strategy ( All Analysis Done on Spot/cash data - Kindly Adjust Futures Data Accordingly)


  • Plan A -
    Holding 770 lows - Traders can look to buy with strict stops below 770's. Can Expect Upside Push to 793-797 zone as upside target

    Plan B -
    Selling Later from 793-797 zone with strict stops above 805 (800 is key reversal level - 805 is critical reversal level)

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Note -

Safe Trader -
Don't Take Sell as per plan B if it moves above 800 level

Risky Trader -
Can remain in Sell as per plan B as critical level is 805

This Idea gets invalidated once price moves above 805 level

Thanks for watching the video.
Trade active: 12:32 Hrs 20th March 2019

Last Price@777

Current Low@775

Current Low @775 could be important as per Plan - A BUY suggested above for 793-797 - Remember Strict Stops below 770 as per spot data --- Only Risky Traders who can afford to stop loss of 7-8 points -with gain of 15-20 points.
Trade active: 14:00 Hrs 20th March 2019

Small Update on Nifty Index

Last Price@11535

As suggested earlier we look to sell Nifty below 11500 or look for upside bounce to 11615-11635- Holding Below 11650 - We expect the reversal which is likely to happen post Holi break.

Auropharma Last Price@778.50

Same Like Auropharma - We expect the bounce upside (Buy) as per Plan -A (recent suggestion was to buy at 775-got executed & Sell from 793-797 with Strict Stops above 800 for safe traders & Risky Traders with stop loss above 805.

Thanks
Trade active: 14:19 Hrs 20th March 2019

Last Price@776.50

Current Position is from 775 levels - If goes below 775 in spot data - just be out & try to re-enter close to 770 as 770 is strict stops in buy call

Auropharma going below 770 & Nifty below 11500 - is warning bell - so be careful.

Thanks
Trade active: 18:45 Hrs 21st March 2019

Auropharma Update

Last Price@776.60

775 holded for last 3 hours in last trading day which was 20th March 2019- Have suggested to be careful either if it goes below 770 & holds below 770 or we look for that last bounce to 790-795 (modified) for reversal zone next

Nifty Update

Last Price@11519

Here also same thing Be careful if goes below 10500 & holds below 10500 or if bounces to 11550-11575 - Just wait -watch if selling pressure increases -you can participate in selling later going below 10500 will become initial clue if bounces from 11519 to 11575
Once Fall Starts - We will come up with downside objective.
Happy Holi.
Comment: 20:08 Hrs 21st March 2019

Nifty Update Correction for 18:45 Hrs /21st March 2019 Update

Price is 11500 instead of 10500 -which is wrongly used above in the last update.
Trade active: 11:42 Hrs 22nd March 2019

Good Morning!

Congrats!!!

1st Leg Started for Nifty, Auropharma & SBIN as suggested earlier

Nifty from 11575 - Actual High @11572 (Trading at 11507)

Auropharma went close twice to 787 & dipped below 770 to 769 (Trading at 770)

SBIN - Exactly Selling two times below 306.50 - Day High 306.40 (Trading at 302)

Next

We wait for bounce to sell or going below day low would be our next strategy i.e. Nifty below 11475 - can continue down & similarly others.

Thanks
Trade active: 12:05 Hrs 22nd March 2019

Last Price@768

We got close target of 765 as suggested over the video - current low is 766 - Any move further below 765 -we will expected 755 on downside else above 765-766 - expect a bounce upside.

Thanks
Trade active: 14:35 Hrs 22nd March 2019

Auropharma Last Price@768

See The Magic - Auropharma is holding above 765-766 as suggested some time back whereas Nifty has 130 points to current low@11445

Nifty Last Price@11460

Next Sell in Nifty Below 11445 or wait for bounce & sell on rise later.

Bye for The Day & Thanks
Trade active: 22:19 Hrs 22nd March 2019

Last Price@768

Congrats! - Most Likely - Gap Down Show Next Week to Start. Can get support in 745-748 zone
If no support in 745-748 then expect even bigger hitting it will get. Notorious Auropharma!!!

Have A Nice Weekend.
Trade active: 10:39 Hrs 25th March 2019

Last Price@770

Opened Gap Down & Made Low@758 - Moving above & Holding above 770 - we can expect Auro to bounce upside close to 780 & 787 levels or wait for Auro to drop close to 358-362 zone if holds current session low @358 then expect upside bounce to 380 & 387 as mentioned above.

Once we get the bounce in 780-787 zone - any weakness can be used to sell later for downside target 765-755-745.

Thanks
Trade active: 12:46 Hrs 25th March 2019

Last Price@774

As suggested last holding above 770 -we expect 780-787 targets upside - have started moving upside & trading at 775 - Traders should keep booking some partial profits every session.
Thanks
Trade active: 12:48 Hrs 25th March 2019

Last Price@773.90

Move below 770 can have negative bias & going below 770 - it is most likely to slip down to 765-755-745.
Thanks
Trade active: 14:59 Hrs 25th March 2019

Last Price@772.70

Auro turned upside from 770 lows!!! again - two times that shows how important is that level.
2nd time favourable move for the day. Wow!
Trade closed manually: Bye!!!
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
https://twitter.com/TalksWave

Telegram Handle
https://t.me/wavetalks

Comments

Great Analysis and Explanation Abhishekhji,
Target around 745
Duration of 10 Trading Sessions.

Sideways to Bearish till 10 days.
+2 Reply
@pk29121976, Welcome!
Reply
I had bought accourding to the suggestion in the strategy on 775. and accordingly was waiting for the share to hit 792 as suggested but it reversed from 786.70. and hit the SL of 775. Now in this situation what should one do? like keep a trailing SL as and when price starts increasing or just wait for SL to hit if the target is not reached? cause it hit the price of 786.7 in first five minutes itself.
Reply
AbhishekHSinghCMT Vikalpbothara
@Vikalpbothara, You always have to protect your backend that is always the rule. How can you allow price to go below your entry point. Why don't you refer a book on "Risk Management (R.M.)" which important before you start trading any more unless you understand R.M. -you will always become a victim to market.
Reply

Seasons greetings and good to have you back after a long break. Missed your superb posts. Cheers and have a good weekend.
Reply
@ShanTrader, Cheers!
Reply
Sir,
I have posted my observation . This is for my learning purpose.
I am not elliott expert like you.
You are requested to give your comments if you wish...Regards.
Reply
AbhishekHSinghCMT prabakaran62
@prabakaran62, That becomes a valid case only once it starts moving above 22nd March day high@787
Reply
prabakaran62 AbhishekHSinghCMT
Reply
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