Strong Support Zone 41000-41100 as shown. Looks corrective fall from 41724 Highs, holding above the suggested support zone, Index can re test 41500 / 41700 / 42400 levels upside.
Any selling can be expected only below 41000. Thanks
Trade active
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10:39 Hrs / 8th Feb 2023
Last @ 41541
Index was volatile as RBI Governor started his speech & the push or move which started upside from 41100 approx yesterday looks corrective & choppy in nature
Wow!!! We achieved our targets 41500 & 41700
It can attempt close to 41100 but should not break downside else we have review once again
We still maintain our stand of important support zone 41000-41100 -Till this holds we expect our upside final target of 42400 could be attempted today or tomorrow.
Comment
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10:55 Hrs / 8th Feb 2023
Last @ 41502
Recent Low - Close to 41400
Trading is all challenge. Next Buy above 41800 or Buy close to 41100 if we get the drop. 41400 is minor support
Trade active
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1:56 Hrs / 8th Feb 2023
Last @ 41547
Traders have to be careful in 41550-41650 zone as sudden fall can happen to downside taking it close to 41100 which I suggested in previous comment of 10:39 am
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2:10 pm / 8th Feb 2023
Last @ 41565
This is a complex correction unfolding - do not guess which side Index will move
In such scenarios just wait for markets to move first & then post clear breakout - you can participate in the trade
Scenario 1-
So, If Index moves above 41600/41650 - breaks even 41790 (day high) then it can make explosive move upside towards 42000 / 42400
Scenario 2 -
If Index falls below 41445 which triggers downside then we expect 41100-41150 zone as profit taking zone
Trade closed manually
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9:35 Hrs / 9th Feb 2023
Last @ 41359
Book your profits on downside if not falling below 41100 - we got small drop. Moving above 41450 - Bulls will be aggressive
hi sir! can you share your insights on page industries please?
WaveTalks
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@praghna258584, 39000 is strong support -holding this level we should be expecting upside bounce & we will have to review in 1st week of March 2023, what kind move unfolds upside but surely below 39000 - scenario will be tough