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Index is close to the current 11025-11050 & this zone acted as even earlier so we need to be careful. Any upside extension can be expected once index sustains above 11050 where It has scope to travel upside in 11100-11125 & it shall face key of 11140-11150.
Few confirmations required for short term trading
Trade below 10950
Break of the which holds – “wave-e”
Initial clue confirmed with pattern-
Weekly outlook –
Till Critical Level of 11200 acts as resistance (holding stops above that level) our downside objective – 10750/10630-10650/10580/Below 10580 for 10525-10535.
Don’t forget to tune in the next video idea – on “Gold at 15K– Raising Mercury Level’s ”
Halting close to 11050 as suggested in trading strategy- Index could slip if goes below 11020
I always tell my followers since I started writing 3 years back - Never Ever Trade on Emotions that "it will come down or it will go up"- what is most important - is the price confirmation.
Looks like an expanding structure & once level - 25340 on downside gets breached - it will slip in fast & furious mode -
So, let it slip & we should just follow the path behind markets.
So, kind of Master -Dow -waiting for Mr.India (E- wave) to complete then Master Dow will start its E-wave which gets confirmed only below 25340 level.
Let Index trade below 11020 or above 11050 if holds then expect upside push as suggested in the Trading Strategy. Thanks & Have a wonderful day.
Traders should book partial profits close to 11000-11010 zone & take further selling only below 10985 spot price
As holding above 11000-11010 zone - some bounce may be expected upside close to 11050-11060. Thanks
Intraday Resistance - 10985 / same old previous resistance 11020 - This morning -Index rallied upside close to 11020 & resumed back it's fall
So, Keep a watch on these resistance level -if you feel these levels are stopping the index - you can take sell or short positions but avoid any selling if goes above 11020-11030 zone.
Downside Support Zones which can be profit booking zone
More damage can be seen if goes below 10850 & holds downside
Its a weekend so be careful in holding your positions - zone 11020-11030 failed to stop the move as suggested earlier or last update above.
But This structure is still bearish on weekly basis -as it gets violated only above 11140-11150 zone so we are still open for downside target
10750/10630-10650/10580/Below 10580 for 10525-10535 as suggested in "weekly outlook" above.
This morning -it dropped just below 10950 & could not hold below that level was indication of partial profit booking which was suggested in the main update above "Trading Strategy" part that going below 10950 - is required as confirmation for downside.
Day low - 10946
Good Morning All!
Review of Price Action since last week :
As expected in last week's closing update- structure is weak & vulnerable close to 11100's.
If it travels above 11140-11150 -whole pattern or structure gets violated, then I will erase the pattern & start hunting for something else.
We got a fall of 170 points since last week's closing price & from the highs of 11080-11085. It's almost close to the 2nd important support zone or level -10900 which was suggested over the video idea as profit taking level.
Trading Strategy :
Any fresh selling should be taken next only below ----------"10890-10900" zone. Please go through the video again & again for a refresher & to understand the levels properly.
If 10890-10900 holds - bounce can take Index back to 11000 above 11000 for 11075-11100 zone.
Upside Resistance Zone -11140-11150- Enjoy Your Day. Thanks for all support.
No Buy Positions at all below 10890 - if by chance it bounces upside above 10900, you may think of buy else it can fall more on downside. Thanks
Last price @10875
10850-10860 was the prior important zone -if you remember we the got the upside bounce for 11K
So, Its an important support zone & next sell below 10850. So, this zone also can offer upside push if 10850 is holded downside. Thanks
Below 10850 - It can extend downside to 10750
Going below 10740-10750 - Downside Target for Index is 10630-10650 -all mentioned in the Main Video Idea - Please check The Weekly Outlook above.
If you can't carry positions home then trade below 10795 for 10750/10650 later.
Have suggested before closing today that next sell happens only below 10795.
It has strong chance of bounce back to 10890-10925 zone upside if it holds 10790-10800 zone where it will find next resistance. Thanks
Let picture do some talking - visuals will make the scenario clear. Holding 10790-10800- This could be the next scenario. Thanks & Enjoy Your Day.
Wow!!! - What a start for the day ------------- Index touched 10885 as expected zone was 10890-10925 in the last update in the evening.
Opened gap up - went close to the zone & falls on its face back.
Key Resistance for the day - 10885-10890
Holding that zone upside -if you get a bounce close to 10850-10870 then one may plan to sell later for targets 10820/10775/10750
Bounce from the support zone 10795-10800 as expected in previous update above - Its close to the minor resistance zone 10850-10870 - if stops - then one may plan their short trades with strict stops above 10890 as per spot price. Thanks & Enjoy the day.
Index bounced to 10865 - as expected last -In present scenario it is range bound market so sell at 10860 & buy at 10800 should be the strategy for a while. Thanks
Since This Morning - We have traded 5 times between 10825 - 10865
Expecting Sonic Move Downside to 10700-10720 with minor support in 10740-10750 zone
As updated 30 mins back in TradingView Status
14:27 Hrs / 18th Sep 2019
Nifty Get ready for the next video idea this evening- "E-shock" . In the last video idea -fall from 11085 traded right at the top. Expected -10700-10720 to finish downside leg.