This view is not valid if Nifty crosses above 11930 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- Already suggested in last video idea - US Markets are doing retracement for the last week's fall & 3550 is the key level so any upside move is just bounce back rally
You just need to identify the key levels to take sell / short position according to your own risk involved in trading -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
• Leading Diagonal's are the structure which normally gets retraced 80/90 %
• Structure started at 11969
• Today's high - 11920
• If the pattern is correct- all the gains shall be wiped out & Index falls to 11600/11500 (keep in mind- view not valid above 11930)
---------------------------- Last Idea ----------------------------
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12:46 Hrs / 4th Nov2020
Last Price- 11905
Got the chance again to sell close to the tops of 11920/11930 with bearish bat
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13:14 Hrs / 4th Nov2020
Booking 100 points in Nifty - Selling from the tops - 11790/11820 is the support zone - don't forget the levels
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13:23 Hrs / 4th Nov2020
Last Price- 11775
Leading Diagonal Magic Starts from the highs of 11920 - Hope you enjoyed the free fall
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14:40 Hrs / 4th Nov2020
Last Price - 11905
Never miss the selling-it was 3rd attempt for the day from 11920 Highs as your risk is just 10 points.
Trade closed manually
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09:50 Hrs / 5th Nov2020
Last Price - 12051
If you took any sell positions & carried overnight then look to exit in 11950-11970 as that zone could offer support
Structure needs to be reviewed as US elections has gone for a toss & Donald Trump most likely going for lawsuit
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10:41 Hrs / 5th Nov2020
Last Price- 12072
Day High- 12100
Assuming it drops to 11950-11970 & does not hold at 11950 then traders should wait as Index can be volatile & take it all the down well below 11900 as well & we review the structure back. Thanks
Super Updates thanks abhishek..didnt trade but it is learning ...
Shivam93
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enjoyed watching how key levels respected by market
krihar
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Thank you
Shivam93
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EK or leading diagonal, i remember the last leading diagonal which was last strted from fal of 11794.. Thanks for updating sir.
WaveTalks
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@Shivam93, Have suggested don't look at the patterns - watch the level -several times
Shivam93
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@AbhishekHSinghCMT, Yes watching the levels, just leading diagonal ke name se yad ageya tha & coudln't hold myself to write bcz in that i studied there are two type of diagonal Type 1 & Type 2 which you shared from your CMT Question paper.
WaveTalks
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@Shivam93, Wow. I am glad that you remember. Cheers!
WaveTalks
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@Shivam93, Market is really in tight position & which ever side it opens up next - it will be free & crazy run next
Shivam93
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@AbhishekHSinghCMT, Yes, but timing we dont know & i am watching the key levels 11600 & 12000 range, With middle range level 11825,, Tracking to enter at good position for swing, after confirmation,, Lets see whether it will go UP 1st nd then big down. Or it will simply go down without moving above 12000.
Akshay77
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Yes sir. Nifty rejecting on highs. And Banknifty trading on negative today. There isbto much probability to fall indices in two to three sessions.