Auropharma – 831 to 750 - A crack!
Updated
Auropharma – 831 to 750 What a crack!
Risky Traders – get ready to lose 4-5 points and gain 50+ points – closing statement in the video idea – “Once bitten twice shy” as of 4th Dec 2018.
If the stock moves in line as you expected giving us an exact entry as well to be precise 825-827 zone when it closed overnight at 821 levels has to be dream come true scenario for an analyst.
Flashback
Overnight (As of 4 - 6th Dec 2018) , Auro was moving within rising wedge –a common term used by traditional analyst until I came to know about wave analysis where the same structure was termed as “ending diagonal” – a overlapping structure which indicated that the upward structure could be ending soon.
Rising Wedge
When a financial instrument (which could be stocks, forex, commodities, bonds etc,) price has been rising over time, trendlines drawn above and below the price chart pattern can converge to show a potential reversal point at a peak. This reversal point can indicate a bearish price point signal in which the security’s price is subsequently expected to reverse lower.
In our case the peak was 831 High and we got excellent selling opportunity close to the peak at 825-826 zone – High was 826.70/826.80- rest is the history
Target achieved – 794 as suggested over the video with small pause and breaks at 815 -810 zone.
This pattern is used by traditional analyst and wave analyst
Books – Technical Analysis -Edwards and Magee ,Wave Analysis - Frost and Prechter
Polarity Reversal = History Repeats
What happens is that history essentially repeats itself, but the role of price at that level changes from resistance to support and vice versa.
Polarity Reversal concept explained in my favorite book which was the first one I referred for the journey of technical analysis written by – Edwards and Magee.
Important Polarity Reversal zones in last week
790-792
777-775
Candlestick Analysis
Evening Star – 3 candlestick pattern as suggested in the book – Candlestick Analysis by Steve Nison
Steve Nison – Father of Candlestick Analysis.
Book – Candlestick Analysis by Steve Nison
Harmonic Analysis
Bearish Crab - Excellent Harmonic Structure occurring at 831 was an amazing clue
Book - Harmonic Analysis by Scott Carney
Trendline / Channels
Book – Technical Analysis by Edwards and Magee is the reference book.
Financial Astrology
Term used by financial astrologer- “Retrograde” was also updated in previous video idea of the Nifty Index – “Mercury, Markets and Mayhem below 10800” – Mercury retrograde runs till 6th Dec 2018 – if you haven’t gone crazy – don’t worry market will make you crazy.
Note-
As updated/suggested on 29th / 30th Nov 2018 in last Nifty Video Idea comment section –we expected to be cautious from 10950-11000 zone which was danger zone
What type of analyst are you? You just had to pick and execute –rest you were bound to enjoy the markets.
Finally, It was kaka’s blessing directly from Bollywood (Kaka – Late Rajesh Khanna) – stands out to be real tribute to this Bollywood actor in the creative way (audio clip) as updated in last video idea.
Thanks.
Risky Traders – get ready to lose 4-5 points and gain 50+ points – closing statement in the video idea – “Once bitten twice shy” as of 4th Dec 2018.
If the stock moves in line as you expected giving us an exact entry as well to be precise 825-827 zone when it closed overnight at 821 levels has to be dream come true scenario for an analyst.
Flashback
Overnight (As of 4 - 6th Dec 2018) , Auro was moving within rising wedge –a common term used by traditional analyst until I came to know about wave analysis where the same structure was termed as “ending diagonal” – a overlapping structure which indicated that the upward structure could be ending soon.
Rising Wedge
When a financial instrument (which could be stocks, forex, commodities, bonds etc,) price has been rising over time, trendlines drawn above and below the price chart pattern can converge to show a potential reversal point at a peak. This reversal point can indicate a bearish price point signal in which the security’s price is subsequently expected to reverse lower.
In our case the peak was 831 High and we got excellent selling opportunity close to the peak at 825-826 zone – High was 826.70/826.80- rest is the history
Target achieved – 794 as suggested over the video with small pause and breaks at 815 -810 zone.
This pattern is used by traditional analyst and wave analyst
Books – Technical Analysis -Edwards and Magee ,Wave Analysis - Frost and Prechter
Polarity Reversal = History Repeats
What happens is that history essentially repeats itself, but the role of price at that level changes from resistance to support and vice versa.
Polarity Reversal concept explained in my favorite book which was the first one I referred for the journey of technical analysis written by – Edwards and Magee.
Important Polarity Reversal zones in last week
790-792
777-775
Candlestick Analysis
Evening Star – 3 candlestick pattern as suggested in the book – Candlestick Analysis by Steve Nison
Steve Nison – Father of Candlestick Analysis.
Book – Candlestick Analysis by Steve Nison
Harmonic Analysis
Bearish Crab - Excellent Harmonic Structure occurring at 831 was an amazing clue
Book - Harmonic Analysis by Scott Carney
Trendline / Channels
Book – Technical Analysis by Edwards and Magee is the reference book.
Financial Astrology
Term used by financial astrologer- “Retrograde” was also updated in previous video idea of the Nifty Index – “Mercury, Markets and Mayhem below 10800” – Mercury retrograde runs till 6th Dec 2018 – if you haven’t gone crazy – don’t worry market will make you crazy.
Note-
As updated/suggested on 29th / 30th Nov 2018 in last Nifty Video Idea comment section –we expected to be cautious from 10950-11000 zone which was danger zone
What type of analyst are you? You just had to pick and execute –rest you were bound to enjoy the markets.
Finally, It was kaka’s blessing directly from Bollywood (Kaka – Late Rajesh Khanna) – stands out to be real tribute to this Bollywood actor in the creative way (audio clip) as updated in last video idea.
Thanks.
Trade active
09:25 Hrs 10th Dec 2018Last Price@750
735 has formed minor support
Next selling can be seen if auro stops again between 765-767 zone and above that zone look for selling close from 775-777 zone for lower targets
Going above 775-777
It should be positive for 10-12 points taking it back to 790 -792 zone
Trade active
09:29 Hrs 10th Dec 2018Last Price@750.75
Do not forget to be in cautious mode if Auro trades below 750 level as it could start falling hard and sharp downside
Holding below 750 -745 zone - we can get target zone of 700-710 which is still open below 735 -current day minor low.
Thanks
Trade active
19:17 Hrs 11th Dec 2018 Last price@735
We got the fall to 720 lows which was close to 710 expected level- 719-720 is another important zone where Auro has bounced
So we are looking for the bounce which we spoke in video after the fall from 750 highs.
This bounce if holds above 730 level can push upside to 765-775 zone
No buying trades if it fails to hold or support above 730 mark.
Trade active
10:13 Hrs 12th Dec 2018 Last price@745
We got the push as expected from 735-737 zone - moving nicely upside as suggested overnight.
Trade active
12:30 Hrs 12th Dec 2018Last Price@730
Why we got the selling just below 750 levels from day high at 748 because 750 was the level where we have been selling & 750 was key resistance for us.
Trade active
14:35 Hrs 12th Dec 2018Last Price@738
Back in Action from 730's low
Trade active
14:43 Hrs 12th Dec 2018 Last Price@737
We will take buy position next only above 740 or we look for sideways to negative move next which can take Auro back to 724-725 zone if holds below 740 mark.
Trade active
09:23 Hrs 13th Dec 2018Auropharma Update
Last Price@745
We are in buy trade as suggested last above 740 mark
SBIN Update
Last Price@293.85
As updated in profile page when you keep cursor at my name - SBIN positive above 290 for 308 -315 Zone Next -- Wait for Magical Video next in the day.
Trade active
09:38 Hrs 13th Dec 2018Auropharma Update
Last Price@746.50
Book Profits in 752 -755 zone - Next buying only above 755 or Resistance in 752 -755 -going below 750 & holding below 750 shall be weak
SBIN Update
As suggested in profile page update - it is positive if holds above 290 for target 308-315 zone.
Trade active
10:5 Hrs 13th Dec 2018 Last Price@749.50 - Hope you booked profits & joined bear camp -close to day high as suggested an hour back.
Target Zone 752 -755 kissed & surpassed to make day high@758.50
Trade active
11:21 Hrs 13th Dec 2018 Last Price@748.50
Book Profits in 730 -733 zone - later if holds in 730-733 zone (not going below 730) or hovering close to 730 (+ /- 1-2 points )
Buying in 730- 733 if dances close to 730 & likely holds above 730 for 750 - 765 target later upside
Or
Sell again if 725 gets broken downside & holds below 725 mark
Trade active
12:01 Hrs 13th Dec 2018 Last Price@747.50
Booking Part Profits in sell call from day high below 755 at 747 - We will sell again once it starts going below 740 level later or we sell again in 752 -755 zone later.
Trade active
12:11 Hrs 13th Dec 2018 Last Price@749
No selling unless it goes below 740 mark - that is the only strategy we follow - we can think of selling in 752 -755 if holds below 755 else going above 755 and holding above 755 -it can push upside to 765 -767 target zone.
Trade active
12:39 Hrs 13th Dec 2018 Last Price@753
We booked partial profits in selling at 747 in sell taken below 755 -before that we bought above 740 levels & suggested to book in 752-755 zone.
We are watching closely the zone 752-755 if holds below 755 then selling again or if crosses 755 then upside move extends to 765 -767 zone
Trade active
14:28 Hrs 13th Dec 2018 SBIN Update - Last Price@286.80
No buying trade as not holding above 290
Auropharma Update - Last Price@746.40
Selling 2nd time exactly below 755 from 752-754 zone as suggested since morning- 1st time we booked profits at 747.
Trade active
06:36 Hrs 14th Dec 2018Last Price@750
Good Morning !!!
Trading Strategies for the day -
Plan 1 - If Auro drops in 743-745 zone and holds above 740 then trader can buy in 743-745 zone for upside target - 755 and above 755 -765 target
Plan 2 - Selling in 765 -767 zone if Auro moves as per plan 1 & reaches target zone upside - be ready to sell -if you see Auro not able to move any further upside for downside target - 740-742 zone and below 740 for 720-723 target zone - can extend further down to 715 -720 zone - shall review later.
Thanks
Trade active
07:20 Hrs 14th Dec 2018 Last Price@750
Plan 3 - Going below 740 - we are looking for 730-733 target zone - if drops even further below 730 & holds below 730 then look for 720-723 zone
Trade active
11:59 Hrs 13th Dec 2018Last Price@726.45
Let us go into flashback - 14:43 Hrs -12th Dec 2018
Target zone 730-733 reached below 755 - Below 730 - Next target zone reached 724-725
Current low -724
We shall see whether it holds the zone of 724 -725 - if that is the case we can see the bounce upside again towards 740 - above 740 -752 and above 755 -Target zone 765 -767 zone.
Trade active
12:26 Hrs 14th Dec 2018 Last Price@823.60
820- 821 is the most important zone for the day -failure to hold that zone could be big problem for Auro next
If holds then some relief for bulls intraday session means - you can expect some bounce still as suggested above
Trade active
12:30 Hrs 14th Dec 2018 Last Price@723.70
Sorry for wrong price update above "823.60" instead of 723.60
It is not rocket science - I am just playing with support and resistance which can hold or give away.
Trade active
13:04 Hrs 14th Dec 2018Last Price@724.80
Reminder
If the zone 720-721 holds then guys be ready to take it all -740 -742 target zone and above 742 for 752-755 and above 755 - 765-767 target zone.
Note
13:54 Hrs 14th Dec 2018Last Price@719
Poked below 720 levels
Thanks. It was fun chasing the stock up and down.
Note
Closed. Thanks
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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