Nifty - The Final Touch-Can we get-8700?

May 26, 2020

Trading Strategy

Selling Below 8950 / 8980 - Downside Targets - 8800 / Below 8800 - The Final Target - 8700 which completes the video selling target of 1000 Points right from the top @ 9600



Last Video Idea

Selling The Channel Tops at 9850

May 26, 2020

Trade active

May 26, 2020

Trade active

11:19 Hrs / 26th May 2020

Last Price @ 9095

Safe Trader, unfortunately, has to wait for trigger below 8950 /8980 for selling trades as they can't take the risk.

Risky Traders, they can sell but we have no stops for the trade as the pattern is not yet completed & we expect it to be H&S.

What happens if it goes above 9200 then H&S pattern fails so it is only for risky traders to sell

May 26, 2020

Trade active

11:25 Hrs / 26th May 2020

Last Price @ 9090

Early Feelers that it could be a possible H&S Pattern with Right Shoulder Top at 9161 Highs as of today

May 26, 2020

Trade active

12:45 Hrs / 26th May 2020

Last Price @ 9100

Always use psychological levels as a trading trigger point or level. These are levels with "zeros" they could be 9000 ---9100---8900 etc

This is one of the important lesson mentioned in the book - "Technical analysis by Edwards & Magee"

May 26, 2020

Trade active

13:36 Hrs / 26th May 2020

Last price @ 9044

On the Top of Left Shoulder Exact at 9030 - Index can take a lunch break - break below 9030 then 8980/8950 is critical level -if breaks -most likely slips to 8800/8700 downside

May 26, 2020

Note

May 26, 2020

Trade active

15:00 Hrs / 26th May 2020

Last Price @ 9035

Already a big fall to start from 9161 to 9000 lows today.

Zone of 9050-9065 is the supply zone (if holds below this zone) - we would expect Nifty to slip close to critical zone 8950-8980 where support comes next

Next Selling comes below zone 8950-8980 for extended downside target.

May 27, 2020

Trade active

06:41 Hrs / 27th May 2020

Closing Price @ 9029 (Adjusted - Post Market)

As updated in last input yesterday- zone of 9050-9065 (+/- 15) point range should act as resistance for upcoming sessions

Expectation for 27th May 2020

As we expect 8950-8980 zone as next halting zone or profit booking zone -one can plan for selling if Index holds in 9050-9065 zone with the range mentioned above

Strictly avoid taking sell or holding sell if Index moves above 9080 & crosses 9100 level upside.

May 27, 2020

Trade active

09:29 Hrs / 27th May 2020

Last price @ 9046

9065 + /- 15 points ------------9080 ------------Day high @ 9085 -------- Suggested Resistance & we plan to sell for 8950-8980

Started well for the day - Let us see we get our downside objective holding below 9085 as dynamic resistance -day high

May 27, 2020

Trade active

09:51 Hrs / 27th May 2020

Last Price @ 9032

9000 -------------------level has acted as dynamic support -post getting the fall from 9085 Highs so it would be range-bound trading next between 9000 -9085 zone. Thanks

May 27, 2020

Trade active

10:34 Hrs / 27th May 2020

last price @ 9065

Index back again in resistance zone 9065 (+ /- 20) points - Strictly holding below 9085 -We are still looking for 8950-8980
Thanks

May 27, 2020

Trade active

11:03 Hrs / 27th May 2020

Last Price @ 9110

Crossed above 9085 -Earlier High - Still, Index is choppy & we will not buy unless it crosses above Head high @9161
Having said that zone 9085-9100 to be watched carefully as any selling below the zone again can take Index down to 9000 / desired zone 8950-8980
Manage your risk properly while trading. Thanks

May 27, 2020

Trade active

11:29 Hrs / 27th May 2020

Last Price @ 9096

We found the zone 9085 -9100 as important zone so above this zone -possible for Index to go close to 9130-9140

Later remaining below 9161 or going below 9085 - sell can be expected. Thanks

May 27, 2020

Trade active

11:45 Hrs / 27th May 2020

Last price @ 9100
Kindly read the update above @ 11:29 Hrs & Plan your trades using proper risk management

May 27, 2020

Trade active

12:42 Hrs / 27th May 2020

Last Price @ 9140

Expected 9130-9140 above 9085 key level------------Got High @ 9150

May 27, 2020

Trade active

13:21 Hrs / 27th May 2020

How can trader take sell if tops are taken out above 9161 - Please read the update at 11 Hrs

May 27, 2020

Trade active

13:24 Hrs / 27th May 2020

Last Price @ 9178

It was clearly expressed that Index can push upside to 9130-9140 if holds above 9085 -It moved to 9150

Got extended above 9161 which was previous high -------so how can traders sell if going above day high

This is the last expected move -----which is for downside ----Strictly manage your risk while trading

Resistance zone 9185-9200 which PRZ -Potential Reversal Zone

Bearish Butterfly Harmonic Structure present if holds below 9200 - It could downside & strictly selling is to be avoided if moves above 9185

May 27, 2020

Trade closed manually

We close as it moves above 9185 levels - New cycle could have started -Kindly manage your risk

May 29, 2020

Note

07:06 Hrs / 29th May 2020

Small comment

This my status update as of today

Nifty Update
06:50 Hrs/29th May 2020 - Good Morning All!- Index Nifty has resistance at previous high@9575- Above 9500- Traders can get 30-50 odd points but careful as Index can slip later to 9430/ going below 9430-It will attempt 9325-9350. Thanks

It was clearly updated that "Next Selling below 8950-8980" -Index made lows close to 9000 was not breaking was itself biggest clue that Index is most likely to bounce
Once it started moving above 9085 - I even put snapshot/photo that we expect Nifty to push close to 9130-9140

Expected sell below 9161 - As this level was important because it was proposed high of the pattern - "Head High"

Going above 9161 - came back selling close to 9185-9200 with harmonic structure
once it started crossing convincingly above 9185 -have suggested @ 13:30 Hrs -that we close -as it moves above 9185 -------New cycle has started upside - Index moves above 9200 to 9500 later.

Please check the status update back to know today's @ 29th May strategy. Thanks

Auropharma Update
As of the last update from Auro pharma video idea- 700 supported & expected bounce also completed to 720+
Trading at 714- Going below 705 / Auro most likely to attempt 700 / Below 700 - zone open for 650-660 zone downside- strictly below 700 levels. Manage your risk while trading

ITC Update
Last Traded at 190+
Keep in mind 190 as an important milestone - take sell positions -strictly holding below 190 levels. Do not take sell if ITC trades or moves above 190.

Shall do an update once I get free