I can see lot of convergence at 503 to 512 zone. That's a big zone but I can't help it b'coz ATR is high. Also observed bullish gartley and ABCD harmonic pattern in a highly oversold zone. So there are high chances of reversal from this zone. I ll hunt for 538, 558 and 568. Initial stops is quite wide, but it could be set below the buying signal which will be assumed as the established swing low.
Kindly apply your own due diligence before trading ideas from TV.
Trade safe and Do hit the like button.
Regards Bravo
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Bouncing but entry is difficult :)
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I am still not in this trade.. Waiting for a pattern to develop on lower timeframe. Then I'll try break out trade. Pattern and entry will be updated if possible.
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Stock formed a double bottom on this TF and broke out of falling wedge which is bullish. Assuming that a swing low is established, Stop for this trade could be below yesterday's low (507)
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Intraday targets could be 526 and 534. Disclaimer: I don't trade news, I trade only what the chart is telling.
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Lost 2 points in the volatility but gained 20 afterwards. Currently no position.
@Parasuram, I missed, I was expecting complete test of abcd.
Parasuram
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@Bravetotrade, yes it was difficult entry... first 5 minutes is for emotional traders.. but market will give many opportunities
Bravetotrade
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@Parasuram, Never mind, if Nifty cools off there will be testing. i ll be patient.
Einstein15
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cool. i had drawn the gartley when it had just reached the C point and started showing the signs of reversal/. At that time it seemed impossible for the price to fall 100 points to reach the D point in a week.
Again It boils down to the belief system .If only One can just believe hmm.
Sorry for the noise :P
Bravetotrade
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@Einstein15, cool bro. Anticipation is the key for trading..but market decides it's own direction :)
kacharts
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@Einstein15, seems 480 before reversal :p as m short i wil like to see lower levels . lets see how does it pan out