Magical level 10800 was the level identified on 23rd Jan 2019 as per status update - took a risky call in between 10840 - 10850 with strict stoploss -10865
If you are trading -you will lose -no doubt but If you are trading & don't know what you are trading - you will lose all!
Wait for some correction if index opens with gap up & initiate or execute your buy somewhere between 10865 -10880 - Stop loss is 10800 ( Stoploss is big- If not comfortable- do not trade)
Sell only below 10800 or Sell in the 11025 - 11050 - Coming with stop loss is tough at the moment
Thanks for watching the video and your precious time.
Support = Buy / Resistance = Sell
Big Green Candle - where it stopped - 10930? - Hope you have not forgotten 10925-10930 - struggle zone earlier for Nifty.
Next Support comes close to 10900 & if dips below 10900 then we look to buy in 10865-10885 zone
Bank Nifty Update
27300 - 27350 is Support Zone or Buying Zone - Plan your buy trades
This will be 2nd run for an upside move. Enjoy!
Such kind of fall is not allowed we expected the dip to 10865-10885 below 10900 as buying zone.
10800 is the critical level for short term basis & it should not dip below that level.
Going below 10800 - It has support in 2 places 10770-10780 & 10740-10750
Selling Below 10800 is not a good decision because chances of getting trapped will be more at the downside.
We will take all sells / new selling only below 10690 levels
Current Low @10757 is the center point of previous gap zone 10743 - 10778 - Bulls Last Hope for the final leg upside
Now this structure takes shape of broadening wedge - You call this "megaphone"
If correct - we will push upside next week
Hope This running becomes big.
Note - 1st warning comes below 10740 - if Nifty fails to hold downside & 2nd warning comes at 10690-10700 zone - that is critical zone -going below that zone - This wedge idea goes into the bin.
I would love to see one more leg upside as "a -b -c" wave within this 5th wave upside
This can happen only if 10740 is intact on the downside - if goes below 10740 then final critical zone 10690-10710 should be intact else this whole pattern is spoiled.
If next week happens bullish then we can expect close to 11025-11050 zone with a stop - 10930-10950 in between.
Early in the Morning - It halted exactly at 10757 lows as of Friday low & bounced to 10800 -10805 which was resistance zone -Not holding 10800 & falling in this fashion has open for downside but we will trade on some bounces upside
10625-10630 is the next support & below 10690-10710 this is the next important zone.
One can look for a bounce close to 10735 -10750 zone in the next bounce where we will plan our next set of trade bt holding below 10755-10760 zone.
Risky Trader's Call
So, Expect upside bounce for 70-80 odd points to 10735-10750 stopping below 10755-10760 zone - to decide later or we sell from that zone if stops below 10760 again for 10600-10625 zone after the bounce upside.
Strict stop-loss -current low below 10630 levels.
There is a risky buy call with 20 point stop loss below current low@10630 - If goes below -close this trade- risky buy call & trade according to your own risk.
Thanks & Good Night.