Heading Close to important swing low@113.75- if it fails to take out that level- traders can keep a close watch for bulls returning above 113.75 level intact. In previous update- expected bullish move only above 146 but it did not sustain above that level & Bhel slipped down.
Trading Strategy Traders can look to buy with strict stops below swing low@113.75 but should wait to see some bulls coming above that level. Looking at Index bounce upside likely correction extends & 113.75 is intact for one more leg upside before bears join from the top again.
Going below 113.75- likely bears will take it deep down below 90 swing lows.
Pullback done@162.90- Click The chart & Use load bar feature
Trade active
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05:42 Hrs 28th Dec2016
Last Price@119.25
Day's Low@116
Key level-113.75 - Keep an eye on the same as suggested above if 113.75 holds then possible bounce
Trade active
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13:55 Hrs 30th Dec2016
Last Price@120. 25
Trail your stops to 118 if taken long as expected above once it starts moving below 118 – exit the trade --Try & pick above 113.75 if it holds above that level-using stops below 113.75- going below 113.75 –it will start moving downside.
Comments
AMBRISH
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Thanks,
WaveTalks
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@AMBRISH, Stops below 113.75 paying out-- I am enjoying Spicy Bhel- Do you love sweet one or spicy Bhel?
piptamil
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Thank you Abhishek for the chart and happy new year🎉🎄
WaveTalks
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@piptamil, Wish You A Happy & Prosperous New Year2017