AbhishekHSinghCMT

Nifty -The Choppy Drive for 200+ Making of Wedge

Long
NSE:NIFTY   Nifty 50 Index
Trading Strategy


09:32 Hrs / 30th Jan 2020

Last Price - 12083


Plan A – Short Term Plan: ------ This Plan is Active
Holding 12070-12080 –Traders can look for 12150-12170 & above 12170 look for 12225 / 12250 + ----- No Buy Trades if goes below 12070

Making of Wedge ( Note - Pattern invalidates if 12025 is breached on downside before pushing upside)



Plan B - Long Term Plan:
Traders can have long or buy positions holding 12025 –if you get opportunity close to 12025-12035 zone -which is key level for Targets upside 12150 / above 12170 for 12225 & 12250+ (Take care- allow markets atleast 10-15 mins to trade & hold in 12025/12035 zone before you execute the trade as suggested above in Plan B)

Plan C –
Buy If Index crosses 12375 – Strictly holding above 12375 –Expect upside 12450 / 12500 zone

Plan D –
Selling if crosses above 12430 & later falling back below 12375 –key level mentioned in Plan C

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Previous Video Ideas
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Last Nifty Idea - Stellium Effect - How I cracked the tops at 12295


Dollar Rupee ( USDINR ) Last Idea

Trade active: 13:27 Hrs / 30th Jan 2020

Last price @12036

Day low @12020

Just dipping below 12025 & bouncing back - keeps the bulls hope alive so either it breaks heavily below 12025 or it travels upside for 12150-12170 - Traders keep a watch as it is most important session for the market.

By heavily - I mean- break has to be vertical & should stay for 5 - 10 mins atleast below 12025 else it is just another way round.

Risky Traders have support zone 11990-12000 - It is only for extreme risk takers that they look for upside targets of 12150-12170 taking stops of 30-40 points below 11990.

OR

Going below 11990-12000 zone which is psychological zone - Once that is breached - Cut your emotional attachment from bull camp as Index may attempt 11940-11950 zone downside that too holding below 11990-12000.

Kindly understand -It is Monthly expiry so sessions would be extremely volatile -Manage your stops while trading & have patience to get the results. Thanks
Trade closed manually: Idea closed. Thanks

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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