WaveTalks - Nifty: Resistance = Support 18012/18015

Nov 9, 2021

Hello All,

Hope you all had a lovely festival last week.

Index this morning had a small fall to 18015 levels which was close to prior resistance 18012. Our double bottom target of 18200 approx is pending from the last idea discussed on 1st Nov.2021

Trading Strategy- Intraday
Index holding above 18010 can make an attempt for 18112 & Above 18200 + for upside targets with strict stop loss below 18010. Psychological level - 18000 (18 K)
Stop loss - 15-20 points at 18010 / Target - 100+ points
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Last Idea
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Nov 9, 2021

Trade closed: stop reached

Rallied in the direction up to 18070's but dropped even sharper below 18010. Idea invalidated.

Nov 9, 2021

Note

13:40 Hrs / 9th Nov.2021

Last @ 18022

The index has to be reviewed back.

Only Risky Traders can trade if it makes an upside attempt again but be careful below 18000

Nov 9, 2021

Note

14:23 Hrs / 9th Nov.2021

Last @ 18045

The Sharp Fall @ 17983 - Day low was bottom on the parallel channel. So, I suggested last on 13:40 Hrs above - Risky Traders can trade for upside targets once again if it holds 18000 -key & critical levels.

Thanks

Nov 9, 2021

Note

15:19 Hrs / 9th Nov.2021

Last @ 18049

Again it made an attempt to fall below 18000 but hardly staying below 18K levels is suggesting 18k & close-by levels are a strong zone where bulls will come back if they get the opportunity.