AbhishekHSinghCMT

Nifty - Selling at the Channel Top-9850

NSE:NIFTY   Nifty 50 Index
Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

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Trading Strategy
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Plan A

Bullish Butterfly Pattern Valid & Active - Once 9200 crosses & holds as support

Target 1 - 9400

Target 2 - Above 9400 for 9500

Target 3 - Above 9500 for 9600


Plan B


Reaching in the zone 9600- 9750 - Traders should be careful of Resistance zone formed for Island Reversal Pattern -The most important zone

Resistance in 9600- 9750 - Stops in that zone -preferably sell below 9600 or close to 9700 or 9750 levels (Note- No selling above 9700 & No selling above 9750)

Downside Targets

Target 1 - 9400

Target 2 - 9200

Target 3- Sell Only below 9125-9150 only for 8900 /8700


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Previous Ideas Video Link
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Wonder Waves Part 1 - Nifty - Wonder Waves -Picking The Bottoms at 7700


Wonder Waves Part 2 - Nifty -Wonder Waves Part 2-Can Patterns Repeat from Bottoms 8055

Wonder Waves Part 3 - Nifty - Wonder Waves Part 3- Traditional Patterns (Target 9600)

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Thanks for watching this video & your precious time - Have wonderful week ahead
Trade active: 09:40 Hrs / 6th May 2020

Last Price - 9135

We don't trade in isolation. So, 2 ideas running - ITC / Index Nifty

ITC as suggested below 170-172 which is very important zone - falling below 170- It can slip to 158-62 target zone- today it made a low of 160.55 which is very strong support zone

So, Index Nifty Sell suggested below 9125-9150 - Plan to take any sell if Nifty falls below 9125 convincingly or we look upside bounce for both
ITC towards 170 / above 170 for 177
Nifty towards 9200 / above 9200 - we follow same plan as suggested above. Thanks
Trade active: 15:19 Hrs / 8th May 2020

Last Price @ 9255

Always check the open ideas running from my end as sometimes I put a comment of Index nifty over there. Just, for example, Nifty strategy was updated on Auropharma stock update

Holding 9250 & 9175 - Index has a positive bias for 9400 again & above 9400 for 9500/9600 in order.

Only Risky Traders who can take weekend positions they carry home & rest of all -can join on Monday using this outlook. Thanks & Happy weekend.
Trade active: 09:34 Hrs / 11th May 2020

Last Price @ 9411

Party Time !!!

Reached 2 times target -------close to 9400 at 9380 (Last week) & Today crossed 9400 as suggested in the closing statement last week.

Auropharm is also picked from 640's close to 615-625

ITC -----------Amazing stock ---------Picking the bottom in 157-158 ------Trading at 162.50-163 ---------Heading for 1st Target 165

Aarti Industries Updated this morning through status update buy above 1050-1060.
Trade active: 15:27 Hrs / 11th May 2020

Last Price @ 9240

Index is having bullish Bias till it holds above 9175-9200 zone so we again can expect 9400 & Higher targets upside.

Thanks
Trade active: 10:18 Hrs / 12th May 2020

Last Price @ 9095

As per Plan B - selling was suggested below 9125 -Infact yesterday overnight selling could have been done at the opening as 9175-9200 zone failed to hold

Nifty puked & had new low @ 9044

No more selling for the day next till it holds above 9000 -key level

Above 9100 -----------------------Index can attempt bounce towards 9175 /9200

Going above 9250 - It will extend upside to 9400 levels
Trade active: 14:26 Hrs / 12th May 2020

Last Price -9185

Nifty Kisses 9200 close at 9195 ---------------------------Boom!!!
Trade active: 10:38 Hrs / 13th May 2020

Last Price @ 9420

Zone of 9375 -9400 is minor support zone - Holding this zone -Index can push upside & re-attempt 9600+ levels

No Buying if Index falls below 9375
Trade active: 10:46 Hrs / 13th May 2020

Last Price @ 9408

Selling Strategy for the day

Sell only below 9350 levels or avoid selling - Going below 9350 - Downside close to 9200-9225 -profits have to be booked.

Above 9400 - Avoid all sell as markets can push up towards 9600+
Trade active: 13:23 Hrs / 13th May 2020

Last price @ 9398

Picked Nifty close to 9350-9360 as our selling strategy was below 9350 - Wow! only risk of 10 points
Trade active: 11:20 Hrs / 14th May 2020

Last Price @9214

The index has been moving sideways close to 9200 as we expect Auropharma to push upside from 672 to 700 & above 700 for 730-740 - we can expect some push for Index from current levels to 9285-9300 & strictly above 9300 for 9400.

Do not take any long or buy positions below 9200
Trade closed: target reached: 15:47 Hrs / 18th May 2020

Nifty completed ---------------------700 Points Target ------------Selling as per plan B ----close to 9600 ---------------9600 to 8900

Stimulus push upside to 9560/9575 ------close to 9600 was an opportunity to sell as we had big reversal that day.

Below 8900 ----------Next target 8700 ------------Partial Target Done------ Holding 8800 next -Index can push upside.

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

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
https://twitter.com/TalksWave

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https://t.me/wavetalks

Comments

sir @ abhishekHsinghCMT
could to help me with which book are best for technical analysis basics
i am a beginner and wants to learn basics
+3 Reply
@FLEAZA, Shall suggest few books in next idea
+8 Reply
Please advice , will nifty touch march lows in June ??
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I found this on chart.. if this is right HNS then it should go almost 900 points from current level ?
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@AbhishekHSinghCMT "Holding 8800 next -Index can push upside" this can go 9380 around? as it has crossed 9125-50 zone. which had mentioned last time.. if partial target done then can we see 8700 in up coming days?
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Hi todays movement was based on global cues n reliance mega rights issue, but now another calamity - cyclone will take its effect which can drag nifty down again..just wanted your opinion whether technicals are strong to sustain a short rally till 9200 ?
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nice
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Just saw this video.I think 8700 is on.Sir I have a question in 8700, if the reversal pattern is not formed then what would be the next stop for Nifty?Because Even the stimulus didn't push the market .I am afraid Nifty will gets to 7700 Level (I am referring to previous Support) before the trend reverses.Whats your view on Nifty Trend reversal sir or Do we have to wait and see
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You are amazing! Tomorrow pullback levels for Nifty, if any? I presume it will be gap up opening.
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Next Moves of Nifty ? heading towards 8400 ?
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