Nifty - Modified Bullish Alternate Bat

NSE:NIFTY   Nifty 50 Index
First Sell - Later Buy

12:56 Hrs / 31st Jan 2019

Last Price@10749

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 resistance zone .

Trading Strategy

Plan A
Below 10750 - We shall look for a fall close to 10585-10550 zone downside

Plan B
Buying Later if Nifty Halts in PRZ (Potential Reversal Zone ) - 10550 -10585 zone

Plan C
Harmonic Pattern is violated but we will plan to buy if 10525-10535 provides support for upside target 10750-10825

Plan D
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 Bullish Bat

Jan 31
Trade active: 13:12 Hrs 31st Jan 2019

Last Price@10770

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.
Jan 31
Trade active: 13:55 Hrs 31st Jan 2019

Last Price@10806

Day High@10812-10813

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
Jan 31
Trade active: 14:12 Hrs 31st Jan 2019

Last Price@10791

Day High@10812-10813

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.
Jan 31
Trade active: 14:45 Hrs 31st Jan 2019

Last Price@10795

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
Jan 31
Trade active: 15:19 Hrs 31st Jan 2019

Last Price@10831

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.
Jan 31
Trade active: 20:11 Hrs 31st Jan 2019

Last Price@10831

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
Jan 31
Trade closed manually: 07:18 Hrs 1st Feb 2019

Last Price@10830

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.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
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