12:56 Hrs / 31st Jan 2019
Do read the update carefully & manage your risk while trading. As trading derivatives is highly risky.
Facing Resistance Above 10750 levels & Suggested in all the status updates that we shall be careful in 10730-10750 zone & holding above 10750 only we will look for 10790-10800 next .
Below 10750 - We shall look for a fall close to 10585-10550 zone downside
Buying Later if Nifty Halts in PRZ (Potential Reversal Zone ) - 10550 -10585 zone
is violated but we will plan to buy if 10525-10535 provides support for upside target 10750-10825
Plan to Buy close from 10500 if goes below 10525-10535 zone for same target upside as mentioned in Plan C above
Auropharma - Modified Alternate
All mentioned above
Till The Time It is holding above 10750 - One can be in buy position & expect upside 10790-1800 & Above 10800- 10815/10820 target
Only below 10750 -it is sell.
Stopped close to next target zone of 10815 -1820 as suggested above
Holding 10790-10800 zone on downside we will look for 10860-10870 next target zone upside
10790-10800 is no trading zone for us - Traders can plan long / buy positions only above 10800 for 10860-10870
Below 10790 -10800 zone / Below 10790 - Plan to sell for lower targets downside.
Have Patience while trading - do not hurry up at all
Trading in Markets is not an easy job - You have to manage your stops accordingly
In Present - Avoid all sell calls - as markets above 10800 will be bullish atleast for 10860-10870
Do not carry any positions as tomorrow is budget day & it can be volatile day as well.
Book your profits in long / buy calls initiated today.
It was an exciting day again as it struggled close to 10750-10760 zone for first few hours.
Next Going above 10750-10760 - Have suggested we look for 10790-10800 - It was achieved
Moving above 10800 - suggested we have 10815 - 10820 target zone - it went close to 10810-10812 so one could have booked some partial profits
Finally after struggling in 10790-10800 - It pushed upside towards our final target zone 10860-10870 but we booked our profits close to 10830's as tomorrow is the budget day & markets can be volatile
Hope you enjoyed trading
We planned to sell if nifty would faced resistance in 10730-10750 zone specially watching 10750 levels during the trading session.
Unfortunately, Nifty crossed 10760 -which opened upside zones 10790-10800 & above 10800 - 10860-10870
So, we traded in the direction -where price took us.
Big events which happens once a year are very volatile - it can favor you or trap you so sometimes it is always better to take a pause & decide later your plan of action.