Previous Update - False breakout above 800 - Story telling done at 727
Let us trade the support - basics of 2 points to draw the & 3 points to confirm the trendline- You got it correct it was a sharp push from 727 which is 3rd point on the drawn from 503 lows & passing through 665 extended upside further for support at 727 - third support in blink of an eye situation which was witnessed by most of the traders in current day scenario.
Look to trade in the zone 750-755 with stops below 725 for target 810-850-900.
Look to trade above 810 for target 850-900.
Upside Run Started ?
Never Run in the Trade Looking at others or at Day High so have patience & you will get your chance downside again
Melting Melting... from 800 to 765 - Wow! - We will get a chance to buy
Close to our buying range of 750-755 as suggested for risky traders with stops below 725 target is 850-900
Safe Traders - Now look to enter above 801-802 -Day High.
Day Low@753.50 - Risky Traders - Are you awake!!!
I usually never predict bottoms but fairly confident in auro because of the move which happened yesterday fall to 725-727 & bounce to 770+ in record time.
So, I came up with 50% mid point which it did since morning -fall from 800 to 755 - Buying Zone as suggested 750-755
Once it starts moving above 760+ likely that is first indication for upside.
Closing this update.
He has shown me the path which I have put in this update.
You could be sitting next to the Auropharma explosion which all might talk about in next few days.
My help comes from the LORD, the Creator of heaven and earth!
May he bless all of us. Take Care!!!
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ