Nifty - Bearish Bat Push 11455-11465 & Can it fall?

Aug 16, 2018

Two opportunities - First Long & Later Short

20:16 Hrs 16th Aug 2018

Last Price - 11385

Looking for an upside push with final leg in bearish bat pattern whose PRZ falls between 11455-11465 -

Once Nifty pushes in the upside zone of 11455-11465 & faces resistance then you may look to sell for lower targets downside.

Trading Strategy

• Plan 1 - Buy for upside target 11425- 11455/11465 with strict stops below 11365 - Keep Trailing your stops
  
  Plan 2 - Sell with harmonic pattern in the zone 11455-11465 if Index faces resistance in the PRZ shown. Keep strict stops upside above 11480 & sell for downside targets of 11410 - 11375 - 11340 & finally 11200-11225
  

Always motivate the author by supporting the idea in time as time is important factor - Authors take lot of pains to write the reports.


Last Update on Bank Nifty

Aug 17, 2018

Trade closed: stop reached

Closed.

Aug 17, 2018

Note

14:41 Hrs 17th Aug 2018

Last Price@11482

Even the idea is closed as stops slightly above 11480 taken out -One should be careful as market takes all stops above 11480 & falling below 11480 - could be the trap.
Do not get convinced easily. Any good move we will plan only above 11500 which will open for upside big else enjoy the weekend.

Take Care.