Mercury retrogrades for the final time in the year 2018 which has started on 17th Nov to 6th Dec 2018 - Next 3 weeks so we need to be little cautious as more chances of larger price swings and volatile sessions on account of frequent to and fro move in decisions related to communications, media, travel and technology.
Mercury Retrograde Possible Results
Larger Price Swings
Travel Plans changed / dropped
Media / Technology glitches - common occurrence.
Avoid any and all kind of heated arguments.
Frequent change of decisions in related fields suggested above. State Elections - Can also get painted because of retrograde period.
So, don't make your decisions in hurry. Think twice , thrice & several times before coming up with final decision.
Retrograde = Backward Movement
Indian Markets Token to Lovely Venus (Oct 2018) - Have you forgotten
USDINR moves from 72.50 to 74.50
Global Markets Token to Lovely Venus
Crude Oil Falling from 75$ to 60$ & more on downside
Bitcoin Falling hard
Global Equities taking a hit
Selling Close to 10800 - preferably below 10800 -no selling trades above 10800 if sustains
Selling below 10600 -10550 levels - later should hold below 10600 for lower targets of 10400 -10200 -10000 & 9300-9500 zone.
Above 10925 -if holds above 10900 later - No Buying Trades if fails to hold " Demand & Destiny Zone - 10900-10925
Opened gap up making highs close to 10730's & struggling to move upside - suggesting a weak move ahead.
So any move holding below day high can be an opportunity to sell for lower targets intraday wise
Stop Loss - Day High
Target 1 - 10660
Target 2 - 10635
We are looking for reversal here in 10720's -10730's - keenly watching -if market pukes then go join them for downside move holding below day high which is above 10730's
Target mentioned above.
At current levels -it can take your stops above 10730 which cannot be denied and it might move down later so be careful with your stops.
Risky Traders are in close to 10800 levels as suggested selling - Downside Target is 10450-10460 (Revised Target Zone) -
Below 10400 - as suggested in the title -only below 10400 later targets to be looked downside
Last Price@ 10585
Risky Traders - What a selling from top 10775 -close to 10800 levels - almost 200 points
All green markets turned red - hmmmmmm "Mercury"
10550 is good support as suggested over the video - Look for a short term bounce to 10590-10600 and fall later
Just Small Dip below 10550 from resistance zone 10590-10600 just now
No short trades -if it keeps above 10550 levels.
Decisive break of 10550 levels confirmed that It's heading down for 10450-10475 zone
Do cover up your position at day end close to 10450-10475 zone as tomorrow is an off for markets -don't carry unnecessary positions.
If 10450 is holded downside then it can be bounce back sharp upside to 10650-10700 levels next week
So only below 10450 - our next downside zone opens
Next support zone - 10450 - 10475
Take Care & Enjoy your weekend.
Last Comment for this week. Remember - Always see what market is trying to tell you. Even though 10550 is broken down & made lows close to 10530 - we are waiting for 10450-10475 target "but" it cannot or should not close above 10550 because 10550 is very important level for the market -its like fulcrum as "Fulcrum is Almighty / God"
Bye - Take Care - Enjoy Holidays
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw