AbhishekHSinghCMT

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

Long
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

Plan A -
Buy once crosses & strictly holds above 9150 for 9350-9400 target zone

Plan B -
Buy once crosses & strictly holds above 9400 for 9600 - 9700 target zone

Plan C -
Sell If Strictly holds below 9700 for 9400 / Below 9350 for 9150 / Below 9125 for 8700 / Below 8675 for 8400 / Below 8350 for 8250 / Below 8250 for 8000-8050

Plan D -
Consider Selling -If Holds below 8050 - Target 7500-7550 & Below 7500 for 6900

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Snapshot - 26th April 2020

Comment: 06:29 Hrs / 27th April 2020

Correction ------------------------------------Harmonic Pattern Shown is Bearish Deep Crab Pattern & Plan C has been mentioned as a strategy based on that pattern.

Apologies.
Trade active: 15:27 Hrs / 27th April 2020

Last price @ 9280

Next Buying opportunity was suggested above 9400 as it failed to cross 9400 - traders could have taken sell

At present 9275 -9300 is no trade zone & moving above 9300 -it moves for 9400 + next

Thanks
Trade active: 09:40 Hrs / 28th April 2020

Last Price @ 9305

It has again stopped at 9400 -------------Please be careful - all dear followers - Selling again at the day high @ 9400
Trade active: 10:47 Hrs / 28th April 2020

Last Price @ 9298

Selling Twice close to 9400 has started giving topping sign for the index -which was clearly suggested in "Plan---B" above in Trading Strategy

Any Buying should be considered strictly above 9400 or going below 9125-9150 shall make Index slip further down to 8825 - 8900 zone downside.

Some Big Boys of Market like -HDFC might come in slip mode so utmost care has to be taken at present.

Thanks & Have wonderful day ahead.
Trade active: 12:01 Hrs / 28th April 2020

Last price @ 9325

Keep a watch for selling close to 9325 as there is a minor resistance here.
Trade active: 13:35 Hrs / 28th April 2020

Last Price @ 9355

We have minor selling levels 9325 & 9360 -Risk is 50 points upside above 9400- Downside Target 9150 / Below 9130 for 8900 - Traders have to wait for market reaction first & you can join later.
Trade active: 15:06 Hrs / 28th April 2020

Last Price @ 9369

Strict Stops - 9400 & Above as going above 9400 - Our Plan B gets activated as suggested above

Sell Its a Bearish Bat at 9286 got extended 20 more points upside - we suggested selling at 9325 &9360

Comment: 15:08 Hrs / 28th April 2020

Last Price @ 9369

Correction - Selling at 9386 - mentioned 9286 - Expect downside
Trade active: 15:38 Hrs / 28th April 2020

Last Price @ 9401

Never become emotional in markets as sometimes we have to accept what market wants. If tomorrow it holds above 9400 then - Index gets open for 200/300 points more on upside to 9650-9700 zone which we have to be prepared mentally.
Trade active: 09:33 Hrs / 29th April 2020

Last Price @ 9465

It was very much expected that moving above 9400 - It will start moving towards 9600-9700

Main Question - Don't get trap here at the tops because of excitement as a fall below 9400 will be early clue that top is done.
So, enjoy the move till it keep holding above 9400 - Traders should use trailing stop method for protecting their profits.
Trade active: 12:30 Hrs / 29th April 2020

Last Price @ 9485

Day High @ 9495

Book Your Partial Profits & Execute New Buy Only Above 9500 –Psychological level.
Trade active: 14:56 Hrs / 29th April 2020

Last Price @ 9581

Another Important Level Reached -----9600 - Very Close to 9650-9700 zone as suggested in the video idea

Traders take new positions only above 9600 or Book Partial Profits.
Trade closed: target reached: 10:12 Hrs / 30th April 2020

Sad News - Bollywood Yesteryear Actor - Rishi Kapoor Passes Away- Condolence to his family, friends & All. RIP

Coming back to markets-
Last price - 9843

Closing Statement for The Idea

Don't get trapped in the Euphoria of expectation. Just trade without emotions

Currently we are at the upper end of the "Deep bearish crab" which has 361.8% -PRZ (Potential Reversal Zone) which roughly comes to 9840-9850 zone

Trading Strategy

Plan A
New Long positions can be initiated if Index Nifty goes above 9850 & holds the level - that means Index should not drop below 9850

Plan B
Selling can done in 9825-9850 zone with strict stops of 9850 as getting the tops are utmost difficult task but we were fortunate to get the few of the bottoms starting from 7700 lows

Exact Bottoms which we enjoyed
7700
8249
8055
8700
9140

Hope, You enjoyed the idea. Thanks for all support. Take Care & Have a wonderful trading week ahead.

Comment: 12:14 Hrs / 30th April 2020

Last Price @ 9863

Forgot to add the targets

Targets for Plan A mentioned above - Buy Above 9850 ----------Index can touch 10200 +

Targets for Plan B - Sell in 9825-9850 -------- Avoid Sell if moves above 9850 ---- Downside objective or Target - 9650 /9400
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

Telegram Handle
https://t.me/wavetalks

Comments

am holding nifty 9300 ce 30th April..should I exit or hold ?
Please advise sir
+2 Reply
AbhishekHSinghCMT RishabhGandhi250218
@RishabhGandhi250218, As a experience - In the options expiry week - even if underlying instrument -here Index Nifty even moves 500 points your option won't move or match that capacity because of "time decay" so it most of the time or 90% of the time has a tendency of attracting or moving towards "Zero" So, do study - "Time Decay" in details & how it can spoil the trading fun before you even trade options next time. Coming back to Index - Nifty holding above 9400 has room for upside to 9600-9700 & as soon as it stays below 9400 - alarm bell should trigger.
Reply
wadhwaamit4 AbhishekHSinghCMT
@AbhishekHSinghCMT, Sir, it seems today index will open 40-50 pt higher i.e. 9450, do you think 200-300 pt mvmt in nifty today or if it sustains above 9400 for today?
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@wadhwaamit4, That can be possible as we are on Monthly Expiry. So, Index moves happens 200-300 points but do not get stuck at top if goes below 9400 as going below 9400 is our early indication that top is done.
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Nicely explained sir...very useful
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as per your plan sir
kya bat kya bat sir .
thank you very much sir
for great plan..
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Thanks for making such an interesting video.....
I'm actually new to the stock market but finding ways to get to the core.
Would love to be your student if you are into teaching.
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Interestingly though a buy above 9850 and close just above, Monday promises a big gap down! SGX promises 402 points fall. But then such are the vagaries of trading! I appreciate the details! Keep up the good work!
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@sanketsudan, Unfortunately such trades are only meant for Risk takers as we are passing into Strong Astrological conjunctions (Message from Heavens) which happens once in few decades. That is the reason, My update in Jan 2020 - "Nifty- Stellium Effect - How I cracked the top at 12295" warned of upcoming danger to 10700 & later break of 10000 did rest of the damage.
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NICE ANALYSIS SUPER SE UPPER TAK ALL TARGET ACH. 8050 TO 9750
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