AbhishekHSinghCMT

Nifty -Possible Leading Diagonal-Selling from the Tops @10550

Short
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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Leading Diagonal (Type 1 Diagonal) Question in Level 3 CMT Exam

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Real-Life Story - In 2015 - Got Question in The Final Level 3 -CMT Exam - What is Type 1 Diagonal which I got a logical solution just by connecting the pieces & thinking about Ending Diagonal (Type 2 Diagonal) which ends the structure whereas Leading Diagonal (Type 1 Diagonal) starts the structure- helped me to crack the question.


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Questions which we need to ask ourself in the current scenario - Is this a Big Leading Diagonal from 7512 to 10552 then also deep retracement is possible & holding 7700-8000 zone with minor supports 8800-9000 can open the extreme bullish scenario

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Trading Strategy
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Selling From 10540-10560 as suggested in the previous video ideas & status update or Sell Below 10300 for 10000 / Below 9950 for 9700-9725 / Below 9700 for 9550 -More on the downside if 9500 gets broken

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TradingView Profile Page

https://in.tradingview.com/u/AbhishekHSi...

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Trade active: 12:48 Hrs / 25th June 2020

Last price @ 10224

Intraday 10200 would be minor support & if Nifty crosses above 10225 & holds above that level then expect upside push for 11300 / 11350 /11375 targets as relief targets to sell later.
Comment: Sorry Typo Mistake Again - Expect Upside Push to 10300/10350/10375
Trade active: 13:47 Hrs / 25th June 2020

Last price @ 10318

Hurray!!!

Nifty Jumps 100 points above the expected level of 10225 - running for target 2 - 10350 & 10375 next
Trade active: 13:51 Hrs / 25th June 2020

Last Price @ 10350

Target 2 done ---------------------10350 - Heading Next for 3rd Target 10375
Trade active: 15:17 Hrs / 25th June 2020

Last Price @ 10279

Strictly -If Holds Above 10275 - We look for Upside Push to 10350 & 10375 else we close for the day.

Thanks & Goodbye
Trade active: Photo for all my followers

1st upside rally we got from 10225 to 10350 - Next Expecting back to 10350/ 10375 if Index holds above 10275

Current low was 10270 - Can we get it? (Going below 10275 - We won't participate)

Trade closed manually: 09:22 Hrs / 26th June 2020

Last Price @ 10365

Index Completed 100+ Points push & completed our upside target. Thanks & Good Bye

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

Absolutely agreed! very well explained Abhishek! My contribution to the same analysis:
+2 Reply
what a great update bhai.. dil garden garden ho gaya
+1 Reply
Sir, My heartiest congratulations to you ---@ unveiling Brand Logo -"WAVE TALKS"... Wishing all the best ...
+1 Reply
Excellent analysis and even there are divergences at the top so market likely to fall. Lets see
+1 Reply
suhilarc Tapas321
@Tapas321, really?? when?
Reply
Wow!! Sooperb the brand too!! :-)

Let it be the trademark!
+1 Reply
The wave count satisfies 5-3-5-3-5 for a leading diagonal. However as the name suggests to lead a move shouldn't the leading diagonal also be in the same direction.. .. I mean if it was a bearish move then shouldnt the leading diagonal point downward...(descending) and not ascending... Just a question ?
+1 Reply
@sabu_m, Once the higher degree wave -leading tonal is done - we have retracement so we are expecting fall from the tops at 10550 as suggested in ITC Video / Reliance Video Ideas as a warning to all followers. If falls extend below 8000 Then I will be little cautious as chances of becoming a bearish pattern would be higher, in that case, I won't take this as leading diagonal.
Reply
@sabu_m, Correction- Typo error - Its "leading diagonal" instead of "tonal" written by mistake
Reply
great ideas Sir, thanks for valuable information..
+1 Reply
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