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Market Commentary Range Bound Trading which was executed in current session - Buying close at 10800 & selling close at 10890's post opening gap up holding 10790-10800 as expected last in the previous idea.
Trading Strategy
Plan A Sell Strategy - Holding Below 10890-10900 - Expecting downside for 10740-10750
Plan B Below 10740 - Expect downside to 10700 / Below 10700 for 10630-10650
Plan C Below 10630 - Expect 10580 / 10580 for 10500-10525 zone - least possible in current situation.
Plan D Buy in 10630-10650 with strict stops below 10615 for 10900 / Above 10900 - target will be 10950/11000
Thanks for all support.
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09:23 Hrs / 19th Sep 2019
Last Price@10786
Reversal is expected soon upside so kindly do not get carried away- when reversal happens for upside it will travel back to 10890-10900 initially from day low as of today.
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09:43 Hrs / 19th Sep 2019
Last Price@10787
Day Low@10766
Looks Like it has done the bottom -going above 10800 -holds 10800 later then it can travel to 10890-10900 next upside.
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09:45 Hrs / 19th Sep 2019
Last price@10788
Upside Early Confirmation comes once it starts moving above "10800" so we hold our nerves.
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10:43 Hrs / 19th Sep 2019
Last Price@10744
Day Low@10739
Reached Important Support Zone 10740-10750 - Not expecting much downside but do remember to execute plan - B if goes below 10740 & holds downside- as we have lot of respect for markets !!!
Plan E Holding 10740-10750 Zone - Possible Upside Turn can be expected -in that case our upside target will be 10840 / 10890 & more on upside above 10900. Thanks & Enjoy Your Day.
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11:11 Hrs / 19th Sep 2019
Last Price@10742
Avoid Taking Any Sell -if Index fails to hold below 10740 as stated above 30 mins back. It is high risky move - (trading below 10740) which one can trade but have to be careful as soon as it starts moving above 10740-10750 zone on upside that will be early clue for upside.
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13:16 Hrs / 19th Sep 2019
Last Price@10710
Day low@10702
Plan B got executed.
Unable to hold 10740-10750 zone - Index slipped further down to 10690-10700 zone which is another support zone. So, further selling if happens -one should take below 10690 -strictly for 10630-10650 downside.
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14:28 Hrs / 19th Sep 2019
Last Price@10706
Day Low@10688
Forming a base & mood change from bearish to bullish takes a while so have patience & move with the market. 10690-10700 is strong support zone. Further selling can be taken only below 10690 on sustained basis for 10630-10650 zone downside else it will try to form a base for upside rally next to 10840/10890. Thanks
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15:01 Hrs / 19th Sep 2019
Last Price@10695
Day Low@10670
Sharp Bounce from 10670's - is showing intention that sooner or later bottom is going to be in place.
Moving above 10705 Should be next early clue for upside.
Downside -critical support was 10635.
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08:39 Hrs / 20th Sep 2019
Last Price@10704
Good Morning All.
Session could be volatile due FM's press conference which is slated at 1000 Hrs IST
Technically, Index moving below 10700-10705 & holds below will be worry point else we look upside for 10840/10890 next.
Short term targets 10750-10775 - If stops it could fall but holding 10700-10705 later it can push upside again Long term targets -10840/10890 as stated above.
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11:40 Hrs / 20th Sep 2019
Last Price@11142
Recent top@11187
Top at 11180-11200 as suggested earlier can halt the explosive move for a while but be careful in trading. Going above 11200 -it will extended upside
Previously we expected 10840/10890 & suggested even ----------" More if moves above 10900" Thanks
Plan D ---------------- Modified & Suggested Yesterday that 10670 could be possible bottom & Sharp Bounce from 10670's - is showing intention that sooner or later bottom is going to be in place.
Expected at 10670 Bottoms
Plan D as mentioned in main idea - Buy in 10630-10650 with strict stops below 10615 for 10900 / Above 10900 - target will be 10950/11000
Target achieved all & in surplus - 11200+ & as per recent update - "going above 11200 -it will extended upside - current high@11272
Great sir, Looking for the nesxt week analysis study........happy weekend ...enjoy
Parth999
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Looking forward to your next analysis sir ....Last one was great ...Thank you
boindala99
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Look forward to your new strategy on Sunday night . Thank you .
ivk1972
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Sir thank you for your support and guidance, your efforts is helping a lot of your followers here including me... Thanks onceagain sir
DARBE1
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sir covered yesterdays position at 10950. I can only express in 6 letters words (gratitude) since you are in distant place is " Thanks " and this word means a lot. THANKS THANKS THANKS THANKS