Swarnendu_Mitra

NIFTY correction done

Long
NSE:NIFTY   Nifty 50 Index
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4
Long with 11070 CBSL (Day candle close below)
If SL hits, reverse and go short for target 102XX.
Long target 117XX/ ATH .
Trade active: Now Ideal SL is 11090 touch. But TSL can be placed at 11189.
NIFTY is bullish as long as 11090 is safe.
Will fall to 11169/49/22 if TSL hits, but those will be buying zones.
Expecting gapup on Monday and clear today's two tops quickly..
Trade active: If Friday's high doesn't break on Monday, exit with 11265 TSL and enter at lower level again.
Trade active: Trade continues, Keep booking at higher levels and keep buying at low. SL is again 11090 touch. W2 down started which is expected to go up to 11189 as W1.5 ended in a wedge, buy using fibo levels..
Next target 115XX/7XX.
Final target ATH..
Trade active: Expecting first target 115XX tomorrow.

Can book there once as TSL is deep at 11190.

Can short also with 11560 SL for target 114XX/3XX and buy again there for ATH.

Expecting a good dip from above today's high to cool off oscillators.

Ultimate Targets of 117XX/ATH remains unchanged.
Trade active: If another high doesn't come tomorrow, exit with TSL 11410 and buy again lower..
Trade active: Now can move TSL to 11570 CBSL (Day close below)
Trade active: High made 11699. Second target almost done.

Now, Three consecutive day candles closed above 11570.
So, 11600-12100 orbit at play now.
TSL remain the same for target 117XX/8XX again.

Final target is still ATH.
Trade active: Now can move TSL to 11685 CBSL. However, Booking some profit here will be good especially if Thursday's low gets taken out.
Trade closed: target reached: This one all target done. Looking for swing short now..

Comments

Nice analysis!
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Swarnendu_Mitra inderjeet05
@inderjeet05, Thanks..
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