The fall looks impulsive & started falling from the top edge of the channel which was expected.
Previous Update - Can't stand the heat- come out of the fin kitchen
Trading Strategy 285-290 zone if holds next then it should bounce to 310-315 zone if achieved & we see resistance coming then we shall plan for sell on the bounce here as well.
Trade active
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10:10 Hrs 25th May2017
Lat Price@300
It started bouncing from yesterday's low of 290's
Trade active
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11:00 Hrs 16th May2017
Last Price@312
Day High@316 Bang on for the expected bounce -infact all done at 315 as stated above.
@AbhishekHSinghCMT. Is it time to short at 332 ? If this fall is impulsive, then can this retracement be shorted ?
nalinakshi
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i want to invest in few good stocks, can you please suggest good stocks for investment Please
Anand7
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do you recommend buying now at 295
WaveTalks
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@Anand7, It was expected to bounce - which I have written.
smghasan7
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@AbhishekHSinghCMT, this is really interesting since it did bounce. Can you share why you expected it to bounce n not break the trendline? Thanks in advance
WaveTalks
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@smghasan7, counting waves 1-2-3 down from upside@350's & bounce in wave 4 done then fall back.
AMBRISH
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It is tricky call , Buy at 285/290 or sell at 310/315.
WaveTalks
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@AMBRISH, I think selling is advisable if 310-315 gives resistance next.
smghasan7
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Do you recommend going short if it closes around 290 levels tomorrow? The rising wedge seems to be broken here which would indicate going short. I am new so need your expert advice please.
Appreciate your work as always
WaveTalks
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@smghasan7, Selling in 310-315 is advisable if you see reistance or remind me or ping me on the post.