Nifty- Wave 4 Done at 11305 (62% retraced)- Careful !!!
Updated
For Educational Purpose
Do not consider this a trading call. Consult a financial advisor before executing any trades. "Risk Management" is the most important lesson -a trader has to learn before taking any trades.
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
Wave Analysis Key Points for Nifty Index Moves
Last Price- 11254 / 10:28 Hrs / 29th Sep 2020
• The fall 11618 to 10790 – an impulsive fall
• Nifty retraced 62% (current bounce) of the fall from 11618 to 10790 which is 11305
• 62% level which comes at 11305 is the most important resistance level
• Keeping in mind 11300 –trader’s should decide their next course of action
• Chart representation ( such as "red arrow" marked downside is for author’s reference)
• Kindly do the due diligence before taking any trades
• Have a wonderful session ahead
------------------------------------------------------------------------------------------------------------------------
Second Last Idea -Nifty crack from 11620 to 11085
------------------------------------------------------------------------------------------------------------------------
Last Idea - Nifty bounce expected "holding above 11085"
------------------------------------------------------------------------------------------------------------------------
Do not consider this a trading call. Consult a financial advisor before executing any trades. "Risk Management" is the most important lesson -a trader has to learn before taking any trades.
------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------
Wave Analysis Key Points for Nifty Index Moves
Last Price- 11254 / 10:28 Hrs / 29th Sep 2020
• The fall 11618 to 10790 – an impulsive fall
• Nifty retraced 62% (current bounce) of the fall from 11618 to 10790 which is 11305
• 62% level which comes at 11305 is the most important resistance level
• Keeping in mind 11300 –trader’s should decide their next course of action
• Chart representation ( such as "red arrow" marked downside is for author’s reference)
• Kindly do the due diligence before taking any trades
• Have a wonderful session ahead
------------------------------------------------------------------------------------------------------------------------
Second Last Idea -Nifty crack from 11620 to 11085
------------------------------------------------------------------------------------------------------------------------
Last Idea - Nifty bounce expected "holding above 11085"
------------------------------------------------------------------------------------------------------------------------
Trade closed manually
23:31 Hrs / 30th Sep 2020Outlook for 1st Oct2020
Global Markets are positive indicating a gap-up move -incase Index opens gap up - one has to be careful in 11380-11400 as crossing above 11400 & holding above that level - bulls will be strong
Opening gap up & stopping in 11380-11400 resistance zone - can make it slip again to 11300 / 11180 & below 11180 - lower targets can be seen.
Thanks
Trade closed manually
Add on update - Nifty (Last Price- 11413 / 11:46 Hrs / 1st Oct2020) Trade long or Join The Bull camp only above 11425 intraday wise only. Avoid taking buy positions home
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.