AbhishekHSinghCMT

Nifty - Wonder Waves -Picking The Bottoms at 7700

Long
NSE:NIFTY   Nifty 50 Index
Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

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Correction - Comex Gold

Instead of "adding" --------- you need to "subtract" 1.618 times (1705 -1450) = 1.618 * 250 = 1293/1295 $ which is minimum distance which "Comex Gold" should drop to confirm that it is wave - 3 downside move - in next couple of months
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Why I was excited on 24th March 2020 -


Reason is both "Comex Gold & USDINR was showing signs of topping out" ----that was the reason to put up status update to all the followers on 25th March 2020 & "expect 700-800 points move from 7650-770" - Hope most of you got this opportunity of buying close to 7700.
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Trading Strategy ( Short Term)


Holding or moving above 8300 - Target 1 - 8400-8425 / Target 2 - Above 8450 for 8650 / Target 3 - Above 8725 for 9000 /Target 4 - Above 9050 for 9200 / Target 5 - Above 9250 for 9400-9500 / If really holds & surpasses 9500 mark - be ready for another wonder waves above 9500 (strictly above 9500)

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Comex Gold


24th March 2020 - Comex Gold Snapshot


30th March 2020 - Comex Gold Snapshot


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USDINR

24th March 2020 - USDINR Snapshot at 76.35


30th March 2020 - USDINR Snapshot


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Note - Kindly read the disclaimer or consult financial advisor before trading into financial markets
Trade active: 15:53 Hrs / 31st March 2020

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30th March 2020

Support at 8245 / 8250


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31st March 2020
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15:56 Hrs / 31st March 2020

Last Price @ 8597 (Adjusted Closing)

As per the timeline over the video -------- 15:34 onwards --- have discussed that traders need to extend the neckline which connects left shoulder / head / right shoulder bottoms – get the target done

If you connected & extended - you would realize that today's high @ 8677 kissed the neckline & achieved our 1st target.

Trade active: 23:33 Hrs / 31st March 2020

Closing price - 8597

It was suggested in the video (main idea above) -----------Trading Strategy ------Please read it to understand fully & completely.

1st Buy call target was achieved today in 8650- 8700 which was suggested at the end of the video idea - check the timeline : 15:34 onwards till end of video.

Next Buy Call Starts only above 8725 -This also has been mentioned in the "Trading Strategy" above
Trade closed manually: 08:16 Hrs / 1st April 2020

Hope you enjoyed the video idea. All follow ups are closed . Thanks for all your support & interest.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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

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