We have completed 5 Wave move Up since Covid Fall and now in making of 5-3-5 Corrective pattern ((A)) ((B)) ((C)). Its too Early to confirm Connector ((B)) is completed however assuming it is done, we can now expect making of wave ((C)) Black is in process and we can have entry planned @ 31080 Level with target to en-cash Next Up move of Wave III red.
Trade Plan : Well In advance Entry : 31080 Stop Loss : 27000 Target : 56000
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Bank Nifty DEC future Short position carrying since 13DEC @ 37468 is now booked partial profit today with 1700 Points profit each lot.
Carrying 50% position for further downside with stop loss now at entry level theri by making a Risk free trade.
Once it breaks 35450 level will add Qty again for further downside Target 31355
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Trade active
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Todays Break of 29NOV low have confirmed now that we will be heading for 31,079 Level in near Future
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Any Bounce in 3 or 7 or 11 wave move up Should be sold as we are in incomplete Bearish sequence Started as a correction move since move started from 41829 of 25OCT.
Dear Vijay, Trade Plan : Well In advance Entry : 31080 Stop Loss : 27000 Target : 56000
Forgot about profit. Focus on your process. Don't be a forecaster. Look at your stoploss. 4000 points per lot? What's your win rate Vijay ji?
profitadda
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@visit2suresh, Thank you for your guidance Suresh ji. Please check out all mentioned views to understand WIN rate. Because results speak more than words. My Agenda is not to forecast but to enter incomplete cycles at extremes, means focusing entry on completion of Wave 2 and Wave 4 for Targeting wave 3 and Wave 5 of any Impulse cycles as per Elliot wave Theory.
Once entered next agenda is to make trade risk free soon by booking 50% profit @ 50% retracement of previous cycle and hold balance 50% for higher targets. Hope you can understand process.
Looking forward for more learnings from laureate in this fields. Thank you and wish you a happy trading
profitadda
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@visit2suresh, Like in case of ICICI bank will enter only @ 610 zone. wait till that level for entry. These are 100% retracement levels where their is very high probability of at least a 3 way bounce if not a trend reversal that's where 50% profit is booked and balance is position is carried with SL modified to Entry level and making Totally risk free Trade. Entries are at extreme of Corrective moves however since market is not in our hand Stop loss levels are so defined that after breach of these levels the moves are no longer a corrective cycles and can turn out to be a impulsive cycles.
Its works and is working perfect since long not only for me and my clients but many across globe. # Provided you are able to identify and marks Cycles correctly# You can also back test same with any instruments. For more details please contact me in person will be happy to share my learning of last 18 years with formal education and mistake made in market.
profitadda
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@visit2suresh, Today move breaking 29nov low have given a confirmation that we are heading towards expected path to 31079 zone, reason is we are in short term bearish sequence now which started its move since 41829 on 25th Oct level, we can now sell any Bounce in Nifty as well as Bank nifty in 3 moves up. Same will be the case for many stock now like SBI, ICICI and many others. Again a perfect move as expected to make a "COLD BLODDED TRADE".
visit2suresh
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Nee bonda
profitadda
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@visit2suresh, let’s wait and watch how it works out and than decide.
profitadda
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@visit2suresh, Path going as expected till now. Bank Nifty DEC future Short position carrying since 13DEC @ 37468 is now booked partial profit today with 1700 Points profit each lot. Carrying 50% position for further downside with stop loss now at entry level their by making a Risk free trade. Once it breaks 35450 level will add Qty again for further downside Target 31355
Trade Plan : Well In advance
Entry : 31080
Stop Loss : 27000
Target : 56000
Forgot about profit. Focus on your process. Don't be a forecaster. Look at your stoploss. 4000 points per lot?
What's your win rate Vijay ji?