AbhishekHSinghCMT
Long

How I Cracked The Pattern - 11146 to 10665

NSE:NIFTY   Nifty 50 Index
This idea is dedicated to Late Shri Arun Jaitley- Ex, FM (Finance Minister).

Trading Strategy

Plan A

If Index opens gap up – hold you long positions with 10795 as stop which was mentioned in status update on 23rd Aug 2019
Look for target 11025-11050 / Going above 11050 – Expect 11090-11120

Note – Do not hold your long positions in 11050-11100 zones


Plan B

Strictly above 11200 – Only, we expect higher moves else very much possible that Index can puke & fall to new low below 10637

Plan C

Risky Traders Only – Sell in 11025-11050 –If Index faces resistance & not going above 11065 which will be strict stop loss for targets 10900 – 10800 - 10580

Thanks for Support.
Comment: 10:53 Hrs / 26th Aug 2019

Last Price@10855

Index Opened Gap Up on FM's comment but could not hold at the top - It was suggested to the community to be careful at the tops.

"Note – Do not hold your long positions in 11050-11100 zones"

Index had a sharp fall from 11K to 10755 - Our Plan C suggested in the trading strategy above worked well.

Next Important support zone - 10725-10750 - Holding that zone it is very much possible that Index could revisit 11K.

Once it reaches - "Read the Plan C" again - Cheers!!!
Comment: 11:09 Hrs / 26th Aug 2019

Last Price@10850

Important support zone 10725 - 10750 for current session. Bounce from 10756 in current session looks a corrective & if goes below 10850 - be careful as Index can fall again into support zone. Holding only above 10850 -it is good to expect upside for 11k later
Comment: 11:55 Hrs / 26th Aug 2019

Last Price@10902

Holding above 10850 as suggested an hour back - Index is moving in the direction of 11K +
Trade closed manually: Hope you enjoyed the idea. Follow proper risk management & Thanks for all support
Comment: 11:02 Hrs / 28th Aug 2019

Nifty @11079

I have updated my status at 10:57 Hrs for Nifty. Thanks for all support
Comment: 11:56 Hrs / 28th Aug 2019

Nifty - Last Price@11059

Getting Nervous!!! Don't become emotional in trading. As it just had a fall from 11090's to 11053

Holding above 11050 - Recent low@11053 - It is most likely to move for 11141 & above 11141 for 11200+

Going below 11050 - Manage your positions yourself as getting a stop will be tough at the moment.

Note - Kindly Manage Your Risk While Trading - Trade something which you can afford to lose -do not trade excessive. Thanks for all support.
Comment: 12:53 Hrs / 28th Aug 2019

Last Price@11041

Market will test your patience -if you don't have patience then trading will be a tough job as you might tend to give up easily.

Risky Traders
Sustained move above 11050 can be looked upside as suggested for Safe Traders

Safe Traders Strategy
Early clue for next upside shall be move above 11070 for

Target 1 upside - 11130

Target 2 above 11141 for 11200+ Thanks
Trade active: 13:38 Hrs / 28th Aug 2019

Last Price@11034

How Does Market Follows The Wave Theory Rules is practical example of Flat Correction -if correct

Not going below 11000 - Critical level we likely to push for 11130 / 11200

Kindly Trade & Manage your own risk. Thanks

Comment: 12:45 Hrs / 29th Aug 2019

Last Price@10960



Sooner or later, holding above 10950 which is psychological level -participants can look for an upside push close to the highs of 11141 & later if resistance seen from the trendline 11181 -11141 can be an opportunity to sell for downside objective 11000 / 10950/ going into last day of trading week or extending next week.
What Next
"wave-a" close to finish - expect "wave-b" of Wave- ((d))
Trade active: 13:11 Hrs / 29th Aug 2019

Last Price@10981

Our Middle Target is 11065 Next on Upside!!!
Comment: 10:28 Hrs / 30th April 2019

Last Price@10966

Day Low@10937

Nifty cracked today again from same level of 10920's -yesterday it was 11022 / today 11025 - As suggested in the status update - If Index fails to cross 11020-11050 - it can slip
Came close to yesterday's low of 10922 - so range bound trading will happen
buying from bottoms & selling at tops will be the strategy
Once it crosses upside - upside trades will start & going below 10900- downside gets open for 10825/ 10750. Thanks & Happy Weekend.
Comment: 10:28 Hrs / 30th Aug 2019

Sorry -------- Typo Error - Nifty Cracked from 11025---------11025
Comment: 13:29 Hrs / 30th Aug 2019

Last Price@10916

Zone of 10880-10900 is important support zone - holding that zone - Index has a chance of moving upside again to 11000-11025 & above 11025 for 11075/ 11100-11125

Later if stops in 11100-11125 below 11141-11150 then small stop loss above 11150 & selling back for 10875-10900 -below 10875 for 10800/10750. Thanks & Happy Weekend.
Comment: 13:33 Hrs / 30th Aug 2019

Last Price@10914

Few Pictures for the community.

Recap -what happened so far:

Expected a bounce above from 10920-10930 - couple of times in 11000-11025

Later - as per status update in TradingView

Selling The Tops at 11025 for 11880-11900


Halting in 10880-10900 zone


Expecting a bounce as suggested above
Trade active: 13:37 Hrs / 30th Aug 2019

Sorry again for Typo error ---------- It is 10880 & 10900 instead of wrongly typed as 11880-11900 !!! above pictures
Comment: 12:16 Hrs / 3rd Sep 2019

Last Price@10892

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Recap of the last session

30th Aug 2019

Suggested - Index could push or jump upside from 10875-10900 zone for 11025-11050 & more can be looked if crosses 11050 as shown in last snapshot above.
Wow!!! - Index pushed to 11042 on the last trading day.
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Index is trapped in a zone 11025-11050 on upside & downside 10875-10900

11025-11050 ------- I have highlighted several times as resistance zone & reminding all of you back again.
Market has shown you the bottom zone - 10875-10900, so what trader should do for the remaining part of the day or next few sessions is the question.

As a Trader

Plan A
You should buy in the bottom zone & sell in the top zone if you see Index getting resistance at the top discussed above.

Plan B
Above 11050 - it can extend to 11100-11125

Plan C
Selling in 11115-11130 with strict stops above 11151 for target 10875-10825-10750

Plan D
Below 10875 - Index can slip to 10825-10835 zone which is our next logical support zone - There Index could hold & get breather for a while to decide its next course of action.

Plan E
Chances are bleak at the moment for this scenario- Going below 10825 -it can slip in fast & furious mode to 10750-10765 zone creating panic in the market.

Note- Never Every Hurry in Trading & Don't forget to use proper risk management while trading.

Thanks & Enjoy your day.
Trade active: 12:45 Hrs / 3rd Sep 2019

Last Price@10879

Note - Current zone is the toughest zone to trade so be careful & avoid trading frequently or too much. Refer above zones carefully.
Trade active: 13:50 Hrs / 3rd Sep 2019

Last Price@10861

Current Session Low - 10849

As per plan -D : Below 10875 - Target was 10825-10835 - we will book partial profits as moving above 10875 -It has fair chance of bounce back upside. Thanks
Trade active: 22:35 Hrs / 3rd Sep 2019

Last Price@10775

Wow!!! Plan D & Plan E - both worked - having patience in market can pay you a lot. Good Night
Trade active: 09:04 Hrs / 4th Sep 2019

Closing Price@10797

Good Morning All!

Snapshot as of 30th Aug 2019- Expecting a bounce from 10880-10900 zone to 11000 -11025



Reached the Minor Resistance in 11000-11025 ( Actual High - 11042)



The Fall 11025 to 10775 (Actual low-10773)



Market Commentary- 4th Sep 2019

It could be start of a new leg upside once it holds above 10775-10800 zone- Next our logical targets shall be

Target 1 - 10875-10900 zone

Target 2 - 11000 - 11025 zone ( favorite zone)

Target 3 - 11100 - 11115 zone

So Be careful in these zone as it could be truncated upside moves & what happens next could be even more lethal

Alternate Scenario - Any upside move above 11150 will be early clue that Index could be heading higher. Thanks & Enjoy Your Day
Trade active: 13:42 Hrs / 4th Sep 2019

Last Price@10846

100 Points up from the bottoms of 10750-10760.

Book Partial Profits in 10850-10860 zone - Only sustained move above 10850-10860 - we expect next leg upside else some profit bookings can take place in 10850-10860 & join back later from downside. Thanks
Comment: 14:30 Hrs / 4th Sep 2019

Last Price@10809

As expected profit bookings done close to 10850-10860 at highs@10848. Had sharp fall. Now, next trade is only risky traders who can afford risk of losing 20-25 points with stop below 10785. Target -10850-10900
Comment: 15:19 Hrs / 4th Sep 2019

Last price@10842

Its a double century 💯💯 for the day.
1st Plan - Buying from Bottoms 10750-10760 for 10850-10860

2nd Plan - Booking Profits close to 10850-10860 & expecting a correction - results into sharp fall from 10848 to 10793

3rd Plan - Buying from 10800 to 10850. Have a wonderful day ahead. Thanks
Trade active: 12:52 Hrs / 5th Sep 2019

Last Price@10844

As per TradingView status update few mins back- Index Support is 10820-10830 - Holding that zone, we can expect 10920+ & going below 10820 - it can slip to 10785.

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Hi All,

Index Getting ready for E-Wave of The Proposed Triangle


Nifty Started its bounce from 10746 - Wow!!!

-------------------------------------------------------------------------------------------

10:55 Hrs / 5th Sep 2019

If you are a good analyst you should never forget your levels- 10922 which was the previous support became resistance today- This is called polarity reversal.



Result - Index had smooth fall from 10920 to 10820

Support Zone - 10820-10830 -Holding that zone we can expect upside to 10900+ & below 10820 - it can attempt 10785




Note - It is weekly expiry day & markets could be volatile for second half. Kindly trade carefully & have proper risk management. Thanks & have wonderful day ahead.
Comment: 14:03 Hrs / 5th Sep 2019

Last Price@10838

You remember zone of 10850-10860 yesterday another important zone so be careful if fails to cross 10860 & going below 10820 - It can slip to 10785 & even more. Thanks
Comment: 14:36 Hrs / 5th Sep 2019

Last Price@10834

Wow! - Index just touched 10860's to be precise 10858 - took U turn - going below 10820 will it touch 10785 - let us wait & watch. Thanks
Comment: 15:13 Hrs / 5th Sep 2019

Last Price@10848

Usually this scenario feels like "calm before the storm" You must have noticed that how tranquil everything feels, everything looks sound & peaceful but let me remind you - it is weekly expiry- get ready as storm may be approaching.

It is all logical that going above 10860 - you need to buy but it should hold above 10860 - going above 10860 & falling back again below 10860 is not allowed.
Else
Selling from tops at 10860 or below 10820 for 10785. Thanks
Trade active: 15:27 Hrs / 5th Sep 2019

Last Price@10845

Day is about to end- likely action reserved for next day. Thanks & Have a wonderful day.
Comment: 03:28 Hrs / 10th Sep 2019

Closing Price@11003

Good Morning All!

Get ready for the next video idea post 17:00 Hrs IST Today.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
thanks sir ......great analysis
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Thanks for the update
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@SSPKOS90, Welcome
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Sir, your idea updation and status update is really helping all.
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@sudhannayak, Welcome
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Thanks sir.i always need your guidance.
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@bajajct100, Welcome
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As always great analysis and detail planning. Thank You for your daily updates.
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@GautamShah, Welcome.
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Great analysis.....Bro
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