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WaveTalks
Oct 23, 2019 3:20 AM

India Nifty -Bull Traffic -Can it be a Grinding Halt ! at 11715 

Nifty 50 IndexNSE

Description

Disclaimer
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

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Trading Strategy

Plan A
Bullish Harmonic Bat Pattern - Buy Above 11575 for 11630-11640 & Above 11640 for 11665-11675

Plan B
Sell close to the tops between 11665-11680 with strict stops above 11695-11700 - Downside Target - 11550-11575 / Below 11530-11550 ( It should hold below 11530) for 11445-11465 target zone & lower 11080-11100 zone next below 11400

Plan C
Sell gets extended below 11550 for targets mentioned in "Plan-B" above

Plan D
Buy above 11715 if crosses 11695 as bullish criteria else be careful.

Thanks for watching the video & support.

Trade active

09:44 Hrs / 23rd Oct 2019

Last Price@11592

Market moving upside -11550 not broken - Day Low@11555---------Mentioned in "Plan -C"

Traders could have taken long positions for targets mentioned in "Plan-A"--- 11630-11640 / above 11640 for 11665-11675

Trade active

10:47 Hrs / 23rd Oct 2019

Last Price @11624

First Part Target Done as suggested in Plan A ------------ Infact bonus above lows of 11550 -------Touched 11638

Upside Extension only above 11640.

Trade active

11:13 Hrs / 23rd Oct 2019

Last Price@11631

Below 11640 If Index holds then may attempt 11595-11605 which is minor support zone.

Trade active

11:32 Hrs / 23rd Oct 2019

Last price@11644

Trading here will be little tough as our stops goes above 11695 for any sell which is big 50 points so one should wait for Index to hit resistance zone suggested in Plan B above or

Only Risky Traders ---------------------Only Risky Traders ---------------They Sell Below 11640 for downside target 11625 / 11595-11605

Trade active

12:05 Hrs / 23rd Oct 2019

Last Price@11638

It can be a possibility that Nifty falls aggressively & reach downside objective 11550-11570 & also extend to 11520-11530 zone as mentioned in "Plan - B" above.

If holds below 11500 then even harder fall possible to 11445-11465 zone next.

Else
It can hold in 11595-11600 as support - Bounce to 11650-11675 (Modified ) for Plan B selling later from the tops & strictly holding below 11695-11700 zone as mentioned in main idea

Trade active

13:47 Hrs / 23rd Oct 2019

Last Price@11640

Facing resistance in 11640-11650 zone - Traders should be careful & take long positions only above 11650 next for 20-25 odd points & if holds below 11695 -It is sell for 11550-11575

Let us review last 90 mins
It slipped below 11640 & took support close to 11595-11605 - low was 11610

Trade active

14:12 Hrs / 23rd Oct 2019

Last Price@11619

Don't become emotional in trading - It can be a possibility of "Inverse" Head & Shoulder if fall happens from 11640-11650 to 11555-11575

Going below 11550 - You need to follow Plan-C as mentioned in main idea above

Assuming that it stops between 11550-11575 - then morning scenario can repeat again ------- pushing above 11550 -11575 zone for 11630-11640

Trade active

14:49 Hrs / 23rd Oct 2019

Last Price@11570

Reached 11575 target which 65 points down from 11640 - Now actual twist starts here in 11550-11575 zone as mentioned earlier

Trade active

15:04 Hrs / 23rd Oct 2019

Last Price@11605

Have Suggested zone of importance 11550-11575 - Recent low @11563 - Whole Pattern can become bullish if ---------Inverse Head & Shoulder forms as updated earlier

Trade active

15:09 Hrs / 23rd Oct 2019

Last Price@11600

Next Sell Happens only below 11550 or Range Bound move - Buy from 11550-11575 & Sell from 11625-11640 - crosses 11650 ----------should hold above 11650 then 11690- Above 11700 for 11750-11775.

Bye & Thanks for all support

Trade active

09:38 Hrs / 24th Oct 2019

Last price@11634

As usual 11630-11640 is zone of importance & next zone below 11630 is 11590-11600 for any buy or long positions -target upside 11680-11690 above 11700 - 11750/11775

Trade active

11:07 Hrs / 24th Oct 2019

Last Price@11578

I will repeat again do not have long positions if Index trades below 11590-11600 updated @ 09:38 Hrs -today morning
& you could hear reasons like BJP did not perform well as expected in Harayana & so market slipped heavily.

Trade active

11:43 Hrs / 24th Oct 2019

Last Price@11574

How many of you actually read the plans in last video idea. Day High-11680

Plan B
Sell close to the tops between 11665-11680 with stops above 11700

You are a trader then don't miss opportunity like buying close from 11550-11555 & Selling close from 11690-11700- continue whichever side it breaks next- don't just guess

Trade active

13:31 Hrs / 24th Oct 2019

Last Price@11566

Read the plan B in the idea fulllllll ...........Markets are volatile -you have to trade cautiously

Plan B
Sell close to the tops between 11665-11680 with strict stops above 11695-11700 - Downside Target - 11550-11575 / Below 11530-11550 ( It should hold below 11530) for 11445-11465.

Trade active

14:27 Hrs / 24th Oct 2019

Last Price@11560

It was one of the toughest trading day in 2019 - as mentioned in "Plan -B" 11530-11550 is the zone which can support market so any downside only below 11530 so far Index made low at 11535- trying its best to slip.

Any move below 11530 - Index could give gap down opening else retest of 11650-11670 close to the highs of 11680-11695

Trade active

15:20 Hrs / 24th Oct 2019

Last Price@11580

Minor Hurdle -11620-11630 zone for the day can stop the index moving upside so one should book partial profits & if continues above 11630 then moves into next hurdle zone 11660-11675

That will make 100 points push upside from 11560 to 11660

But don't forget -------------------to read "Plan B" in full as mentioned above in main idea----------------Hope you enjoyed the toughest trading day of 2019

Trade closed manually

This Idea Update Gets Closed. Thanks for All Support. Happy Diwali.
Comments
boindala99
It looks like a Double Top between 23/09 and 22/10 . And a triple top if we take 17/07 as well .
boindala99
Happy Diwali to everybody .
sanjivt
Indeed a tough day but you managed pretty well...Congrats!!
WaveTalks
@sanjivt, Thanks & welcome.
deepak_sukumar1
Abhishek can we go long 11550 if market is able to hold at 3:15 , I see until now it goes below 11550 but recovers to 11550.
WaveTalks
@deepak_sukumar1, It will be risky as going below 11530 - It might even open big gap downs & holding above 11550 -you could get 11650-11670 - If you can take that risk yourself.
WaveTalks
@deepak_sukumar1, updated my latest comment above at 14:27 Hrs. Hope, you checked.
vishalneverevergiveup
Thanks sir @AbhishekHSinghCMT made a handsome amount of money..I thin market will eventualy break 500 in coming days...just a matter of time...Great view sir...have a great day cheers
WaveTalks
@vishalneverevergiveup, That's a great news. Thanks & welcome
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