Nifty- Corrective Leg B Close to top @11620- Expect 11565/11400 Short

Nifty 50 IndexNSE

Description

⋅ Sep 16, 2020 9:56 AM

Below 11375 only - we expect 11200 & lower targets.

Strict Stops above 11620

Target - 11565 / Below 11565 - 11400 / Below 11375 only - 11200

Trade closed manually

⋅ Sep 17, 2020 4:53 AM

10:22 Hrs / 17th Sep 2020

Last Price- 11565

Target 1- 11565 achieved

Closing comment :

Gap Down Opening. As suggested - we reached our target 11565. Trader should know how to manage the risk.

Any move above 11600 could lead to some more choppiness in the market but careful next when 11525 gets broken on downside.

Thanks & Good Bye

Comments

Axay1111

⋅ Sep 16, 2020 10:12 AM

Sir, in case of gap up abv 11620, this analysis will be void..??

WaveTalks

⋅ Sep 16, 2020 10:19 AM

@Axay1111, Yes, Have mentioned no trades above 11620 but surely there is selling next for downside targets

ashokakbari

⋅ Sep 16, 2020 10:22 AM

@AbhishekHSinghCMT, surely soon kar achha laga.. Mugembo khush hua

angelrishi

⋅ Sep 16, 2020 12:09 PM

@AbhishekHSinghCMT, Thanks for the analysis

Axay1111

⋅ Sep 16, 2020 3:42 PM

@AbhishekHSinghCMT, thanks for your prompt response and guidance.

intradaycoachdotcom

⋅ Sep 16, 2020 12:57 PM

@Axay1111, if nifty opens gap above 11620 then nifty likely to touch 11680-11700 ( fibonacci extension 1.68 of wave a ) but gann time cycle says reversal on the card

ckirtane

⋅ Sep 16, 2020 1:44 PM

@intradaycoachdotcom, i support for 11700 tomorrow.

Axay1111

⋅ Sep 16, 2020 3:43 PM

@intradaycoachdotcom, thanks for the update.

Kakerot

⋅ Sep 17, 2020 4:03 AM

What are you saying don't you see THE BEAUTIFUL Inverse head and shoulder pattern formation of the last 3 weeks? after so much confusion in the market past weeks. closing above 11600 is on its own a very solid positive indication. I would make long Position for target 11800 sept end.

Bigpapanifty

⋅ Sep 16, 2020 7:39 PM

Hope market go down