Heavyweight Reliance Cracks 7% (2065 to 1897) on disappointing results as discussed in overnight idea @ 1st Nov2020 & the personality confirms that stock could be in wave-3 or wave-C which was warned earlier that below 2000 - stock can have trouble.
------------------------------------------------------------------------------------------------------------------------------ Most of the stocks discussed has witnessed good intraday fall ------------------------------------------------------------------------------------------- Tata steel - Fall from 411/413 zone to 400
Auropharma - running close to 750's
ITC - Falling in desired direction of 157 with key support 165-167 zone
Will Nifty Crack Next ? ---------------------------------------------
Moves are choppy & possible new upside can be expected only above 11700 & later should cross 11745/11750 key levels. Failing to cross key levels, index can slip to 11550 / 11380-11420 zone
Target 1- 11550
Target 2 - 11380-11420
Parallel channel drawn from lows of 7511 connecting 10790 (discussed in last night video idea) -extended upside can offer support in 11380-11420 with minor support close to 11550 level.
Thanks
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14:24 Hrs / 2nd Nov 2020
Crossing above 11690 is warning bell for all sellers so careful as suggested above
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14:49 Hrs / 2nd Nov2020
Last Price - 11709
Only Risky Traders -should take long positions
Index needs 2nd confirmation of crossing 11745/11750 then it will suggest that short bottom @ 11530 is in place in that scenario - room opens upside for 11870-11900 which was old zone as suggested earlier in since first week of Oct2020.
Trading here can be really tough as next set of moves are going do ups /downs very frequent so your risk management has to be in proper place
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15:08 Hrs / 2nd Nov2020
Last Price- 24915
Bank Nifty has a double top close to 25200 - Any new buying happens above 25200
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10:08 Hrs / 3rd Nov2020
Last Price- 11770
As a trader - you should never forget your levels - 11790 was the most talked level in last few weeks so trading should be planned keeping in mind key levels & milestones
Some key levels 11790-11800 11825 11870-11880
US Markets are doing retracement for the fall done in last week so be very careful as any hint - market may drop heavily. Having said that -you should never forget managing your risk while trading & also know where you could go wrong.