Nifty - WaveTalks : Right in the Block Hole 12110-12125

AbhishekHSinghCMT Updated   
NSE:NIFTY   Nifty 50 Index
Secret to the bounce from 11910 lies in the history - If you are missing this point then you are missing the key aspect of being a good analyst

Trading Strategy

Plan A -
Sell below 12085 with strict stops above 12135 for targets 12010 / Below 12000 for 11900-11910 / Below 11900 for 11600

Plan B -
Holding 12085 - Current wave can extend upside to 12160-12180 / Above 12200 for 12230 / Above 12245 for 12275+

You can check TradingView profile page for previous ideas at
Trade active:
12:06 Hrs / 20th Feb 2020

Last price @12143

Hope you booked some profits on upside move close to 12160's - If you want to hold the position -you can but the criteria is Index should remain above 12135 mark

Going below 12135 - remain cautious. Thanks
Trade active:
15:08 Hrs / 20th Feb 2020

Last price @ 12077

At day lowwwwwwwwwwwwwwwwwwwwwwww - Happy Rising Wedge ending (Elliotticians call this wedge ---Ending Diagonal) at the tops @ 12152

Hope you all booked 15 points in long & took short position below 12135

16:04 Hrs / 20th Feb 2020

Last Price @12080

Fall from the tops at 12152

Trade active:
10:01 Hrs / 21st Feb 2020

Last price @12080

WaveTalks - Weekend with the wedge at 12152

Welcome to an exciting wave talks update for 21st Feb 2020.

What Next ?
If the rising wedge or ending diagonal pattern is identified correctly at the tops of 12152 then next week could see aggressive downside move initially filling the gap which was formed between 18-19th Feb 2020.
Later moving below 11990-12000 psychological level, Index most likely to travel 11900-11920 zone for a retest of previous lows & break of the zone can take it even lower.
Navigate using the zone 12085-12100 zone.

Get ready for the excitement & Stay Happy !!!
Trade active:
10:26 Hrs / 24th Feb 2020

Last price @ 11950

Index falls 200 / 225 points from the top 12152 - Zone 11900-11910 is very important support zone - this is 3rd time it is bouncing close from 11900.

Let the support 11900-11925 get broken then we see the real moves of the market with minor support 11830-11850 -if that also taken out in the hit -it straight moves down.

Don't get emotional in trading. Manage your risk properly.

Trade active:
13:08 Hrs / 24th Feb 2020

Last Price @ 11958

No Selling Till 11935- 11940 zone is taken out on downside that means till Nifty is holding above 11935-11940 - It has all good chances to push upside to 11980 / 12035
Trade active:
14:28 Hrs / 24th Feb 2020

Last Price @11898

After lot of struggle 11900 level was broken
Trade active:
15:15 Hrs / 24th Feb 2020

Last Price @ 11826

11830-11845 is important support zone - breaking 11830 & 11800 next will take Nifty to our next target @11600
Trade active:
19:18 Hrs / 24th Feb 2020

Nifty –WaveTalks – Index Hammered / Powerful Pattern: Selling at the Top – 12152

Welcome to an exciting wave talks update for 24th Feb 2020.

Sensex closed 806 points down while Nifty 50 ended 250 points down from its last closing.

Being a wave analyst, Ending diagonals are one such pattern once recognized can be highly rewarding as it did in last two sessions. Resuming back from the truncated week as 21st Feb 2020 which was closed on account of Lord Shiva’s day.

w can you forget the mysterious voice which sounds like “Om” –is it related to Shiva- How it is related to markets - Let us keep this talk for another session in future.
Coming back to markets, I was happiest person as of 20th Feb 2020 as I literally jumped out of the seat shouting loud to myself- Yes- it is an Ending diagonal or trading analyst they call it wedge pattern.
So, I was open for Index to slip 250 points down quickly & take a halt in most important zone 11900 – 11910 zones before bleeding could continue further once 11900 could have pierced downside.
Going below 11900 – Index slipped to 11813 lows close to very important psychological level of 11800.

What Next?
Going below 11800 in gap down opening scenario will clearly indicate –an impulsive move is in action as most anticipated before Indian Budget 2020.
11700 / 11600 would easy to achieve next as downside objective with gap down below 11800 suggested in the Plan A of the video idea published last week or holding 11800 – bounce could be expected to 11850/11875 which has to be reviewed later.
In a gap down scenario- more damage could be expected later which if slips get extended below 11490-11510 zone as it is critical one.

Winding up the wavetalks update for the day & wish you a terrific week ahead.

Don’t trade with emotions - Always trade what price talks?

Trade closed manually:
08:47 Hrs / 25th Feb 2020

Thanks for valuable support & your interest in the idea. Wish you all a happy trading week ahead.

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

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