AbhishekHSinghCMT
Long

Nifty-Elliottwaves-Let us make some wedges

NSE:NIFTY   Nifty 50 Index
Analysis Done on Spot / Cash Data

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Status Update at 09:13 Hrs / 9th April 2019
Last Price@11598
Buy Close to 11550 – 11560 zone ( No Buying below 11550)

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Key / Critical Support & Resistance Levels
11550 (Critical support level Next)
11760 (Critical Resistance Level Next)



Trading Strategy

  • Plan A
    Buy Above 11600 for 11690-11700

    Plan B
    Buy Above 11700 for 11750-11760 ( No Buying Below 11700 levels)

    Plan C
    Buy Above 11760 for 11825-11850 zone upside (New Highs for India Nifty ) – Giving us 3rd leg in the wedge structure which is our assumption.

    Plan D
    Selling somewhere close to 11825-11850 once you get some resistance (be careful as it non chartered area) for downside target 11715-11730

    Plan E
    Later Buying holding above 11700 for 11900-12000

    Plan F
    Selling Later on New All Time Highs for Downside Target –close to voting day in Mumbai which happens on 29th April 2019 for downside target of 11310-11325 zone as suggested over the video.

    Plan G
    Buying in 11310-11325 support zone for upside target 11425-11475

    Plan H
    Selling Also below 11300 for 11120-11150 & below 11050 for 10730-10785 ( Nation Strike’s Back Zone)


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“Say Cheese” Moment for me in last few days

5th April 2019
RBI cuts repo rate again by 25 bps as it did last time in Feb 2019 & we were sellers close to 11117 Idea as published earlier – “History has the answer - Careful above 11050”- Result was fall to 10585 (Double Bottoms)


7th April 2019
Got the push to 11690-11700 zone & Selling was suggested below 11700 for 11610-11620 zone which got extended to 11550 (Critical support level Next)

8th April 2019
Fall Started with gap open & making 11710 new highs for the day- yesterday – 11550 is critical support level next.


Thanks for watching the video & Your support. Enjoy The Markets.
Apr 09
Trade active: 13:22 Hrs 9th April 2019

Last Price@11595

Have entered close to 11550-11560 zone as suggested in the idea above for upside target 11690-11700 & other plan as mentioned above.

You need to plan your trade & trade your plan. Do not become emotional in trading if going below your entry price do not hold the positions that is what it is called risk management which trader should know before you start trading.

Keep Trailing Your Stops & Make it profit stop loss so that you don't lose anything only gain.

Finally, As suggested earlier in idea ( No buying positions if index falls below 11550)

Thanks & Enjoy The Day!
Apr 09
Trade active: 14:27 Hrs / 9th April 2019

Day High@11656

Last Price@11648

Always book profits in Index if you get 80-90 points push in the day - never leave the profits & join back later on lower levels.
Apr 09
Trade active: 14:41 Hrs / 9th April 2019

Last Price@11640

Small fall from 11656 to 11633 - likely to continue to 11690-11710 zone upside.
Apr 09
Trade active: 15:16 Hrs / 9th April 2019

Last Price@11677

Close to 11690-11700 zone - Book Profits & Join Tomorrow again for fun. Enjoy!

Nifty - 100 points from 11570's
Bank Nifty 250+ points.

Hope, This idea helped you to learn little more about markets along with making money. Cheers!!!
Apr 09
Trade active: 22:00 Hrs / 9th April 2019

Last Price@11671

We have already booked profits Intraday & asked to join tomorrow for the fun -that could be downside roller coaster ride - check the levels & plan your trade accordingly.

Tomorrow's session is crucial as " not holding above 11550-11570" which is critical support zone as mentioned in the status update at the start of the main idea above - we shall open the trump card - the alternate one, which I always carry for my emergency exit.

Here is the Alternate Plan (Trump Card)

Opening gap down on 10th April 2019 & slipping below 11550-11570 zone - can take Index down to 11300-11320 target first - In that scenario we keep "the wedge at rest"

More on downside below 11300 for 11100-11120




Auropharma Update

As suggested in the last idea selling below 803-805 - It holded at 770's giving us multiple buying opportunities

Next - Tighten your seat belts for the slippage. Cheers! & Enjoy The Markets Tomorrow.

Century Ply Update

Buying right at the bottom from 150 handle as per the idea posted last - pushed upside to 224 - Wow! ( level shown in the chart idea) - Taking U -Turn & Falling next can just be another wonder move next.

Good Night!
Apr 09
Trade active: 09:09 Hrs 10th April 2019

Last Price@11671

Did you book profits in upside push yesterday ? What's your plan next

Look for a small fall initially in 11625-11635 zone --------- "If" holds then plan to buy for upside target 11690 - above 11710 for 11750-11760 & continue as suggested in the main idea above.

Note
No buying if Index slips below 11625
Apr 10
Trade active: 11:16 Hrs 10th April 2019

Last Price@11656

Buy / Long Positions were executed as suggested in 11625-11635 zone - Nifty made an attempt close to that zone at 11640's

We expect upside target 11690/11710 & Above 11710- 11735/11750
Apr 10
Trade active: 12:35 Hrs 10th April 2019

Last Price@11660

Sideways & Time Consuming boring move - be ready for upside move if 11625 is intact downside for upside target as suggested above.
Apr 10
Trade active: 13:42 Hrs 10th April 2019

Last Price@11618

Sharp Fall from 11660-11665 zone - we are out below our entry price which was 11640's or 11625 as suggested

Next 11550-11570 is important & should not break - holding that zone we are still looking upside but wait for entry close to 11570's

No buying below 11570. Going below 11550 - Alternate Plan gets activated as suggested overnight.
Apr 10
Trade active: 14:03 Hrs 10th April 2019

Last Price@11620

It slipped close to 11600 which can be seen as psychological level & hence important one in this session so markets can be expected weak only going below 11600 & later falling below 11570
Else Bullish Bias will be intact

So, Plan to buy close to 11600 or 11570 if goes below 11600 - no buying below 11570 levels.
Apr 10
Trade active: 14:46 Hrs 10th April 2019

Last Price@11604

As suggested last @14:03 Hrs - We shall look to buy either at 11600 or close to 11570 - no buying below 11570 - we have taken position with bullish bat at 11585

Strict Stops below 11570 -------- which is "X" low in the harmonic pattern & pattern invalidates below 11570

Apr 10
Trade closed manually: Thanks
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
kal morning mai 10:15 ke baad jitna nifty sell karna hai karo .price and time is 0 percent bullish sir.as per ichimoku. we are in to p wave .
Reply
@sandy, Price wise 11550-11570 is important zone - we should not get trapped in buying if it goes below 11550-11570 zone & should not get trapped in selling if it fails to go below 11550-11570 so that means 11550-11570 is the zone to watch next & trade the plan today. Thanks
Reply
Plan A is working now nicely :)
Reply
@vanathi, Intraday - If Index Gives 100 point moves then you should never leave the profits. & Rejoin later. Cheers!
Reply
vanathi AbhishekHSinghCMT
@AbhishekHSinghCMT, Thats so true. Booking profit at right time is important in trading.
Reply
@vanathi, Hope, you enjoyed the trading session!
+2 Reply
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