Short

Nifty - H&S Pattern or Hide & Seek Sell Below 9450/9375

Updated

Disclaimer
-----------------------------
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.

----------------------------------------------------------------------------------------------------------------------------
Hide & Seek = In Hindi called "Luka Chipi" - This Video Starts with a lovely musical piece from Bollywood Movie - "Do Anjane" - "Luk Chip Jao Na" lead role played by Senior Bachchan- Bollywood Super Hero.

------------------------------------------------------------------------------------------------------------------------------
Trading Strategy
-----------------------------------

Plan A
-----------------
Sell Strictly below 9450 for 9375 / Continue Sell later only below 9375 for

Target 1 - 9175-9161

Target 2 - Below 9175 for 8980-9000

Target 3 - Below 8950 for 8800 & 8700

Plan B
-----------------
Selling The Alternate Bat Pattern in the zone 9650-9700 ( If Stops) with strict Stops above 9735 for

Target - 9450 / Below 9450 for 9375 / Below 9375 for 9175-9161

-------------------------------------------------------------------------------------------------------------------------
Previous Ideas can be checked from TradingView Profile Page

in.tradingview.com/u/AbhishekHSinghCMT/

-------------------------------------------------------------------------------------------------------------------------
Thanks for watching this video & Thanks for your precious time. Have a wonderful week ahead.

Trade active

08:03 Hrs / 1st June 2020

SGX Nifty is 100+

Assumption - Wedge Pattern from the Tops of 8990 as suggested over the video.

The wedge patterns always retrace 100% - so going above 8700 - if it holds then cautiously traders can expect 8990 & crossing 9000 marks. Let us enjoy more on the upside.

In the scenario, Index can run upside to 10000+ if crosses above 9000 mark or follow Plan B - Selling with Alternate Bat

Trade active

10:21 Hrs / 1st June 2020

Day High @ 9850

Last Price @ 9820

Connecting The Dots --------------------------Drawing The Channel ----Connecting all lows we get halt for Index Nifty exactly at centre band at 9850

So, It is advisable to book profits close to 9850 levels in the gap up move above 9700 suggested in the morning update.

Trade active

10:46 Hrs / 1st June 2020

Last Price @ 9845

About to cross 9850 -Morning High - Cautiously Traders can continue long or buy positions till the time it holds above 9850 - look for 9890-9900 target next

Careful - Don't hold your buy positions if Index falls below 9850 later

Trade active

12:27 Hrs / 1st June 2020

Day High @ 9930

Last Price @ 9905

Crossed 9900 Mark as well & retraced completely if it was a wedge fall from the tops of 9890 last or previous top.

Now The zone 9890 - 9900 becomes very important cluster & if holds above then extends further upside or going below 9890 - 9900 - we book all profits & go out of the market

Only Risk Takers - They can plan to sell if Index dips below 9890 - 9900 zone next for downside target 9720-9750

Note

New Status Update - Stock : Hindalco

13:57 Hrs / 1st June 2020

Sell - Sell - Sell
--------------------------------------------------------------------------------------------
13:40 Hrs / 1st June 2020 - (Current price - 143) Holding below 145 with Index going for-profit bookings below 9900 levels for 9700- can expect the stock to dip as well to 115-117 levels in next few days

Trade active

13:58 Hrs / 1st June 2020

Last price @ 9837

Already 90-100 points down form day high @ 9930

Suggested earlier 9890-9000 zone is important & if slips ------------Index can test 9750 & more on the downside

Trade active

Typo error ------------zone mentioned above 9890-9900 -------------kindly correct

Trade active

15:25 Hrs / 1st June 2020

Last price @ 9810

100+ points fall for the day post-booking profits upside at 9890-9900 zone

ITC - Finally got the fall below 205 -Post or Last idea closed at support level -200

Hindalco - Sell Initiated below 143 - Current price - 139.30

Trade active

21:03 Hrs / 1st June 2020

Last Price @ 9826 (Adjusted Closing)

Trading Plan

Plan A- Sell the Bounce upside

Any Bounce or upside move in 9880-9900 zone should be looked as selling zone if goes above 9900 & falls below 9880 level

Plan B - Continue the sell if falls & hold below 9800 levels.

Below 9800 - You can continue the sell taken at the highs

Thanks & have a wonderful next trading day. Let the excitement begin tomorrow!

Trade active

10:11 Hrs / 2nd June 2020

Auropharma Update

After spending couple of days above 700key level -it touched 750+ ----------Traders should keep a watch as profit bookings can come for this pharma stock as well if holds below 750 level. Key support shall be 700-705 zone
Not a trading view. Kindly take your own risk

Trade active

10:56 Hrs / 2nd June 2020

Auropharma Update

Last price @ 738

Drops below 750 as suggested 50 mins back above @ 10:11 Hrs

Trade active

12:05 Hrs / 2nd June 2020

Last Price @ 738

Auropharma Update

Recent low @ 734

Traders -If you missed selling close below 750 as updated earlier at 10:11 Hrs then you should avoid taking sell as the stock has dropped 15/17 points down

You should always sell close below 750-755 zone where your risk is less. Thanks

Trade active

12:24 Hrs / 2nd June 2020

Auropharma Update

Last price @ 736.50

Expected Profit bookings below 750 (Strictly) in the stock can take it to the key levels of 700 / Below 700 -shall be 655/660 target zone / below 655 for 600 levels.

Note

15:01 Hrs / 2nd June 2020

Update on Nifty / Auropharma / ITC / Hindalco

Nifty (Last Price- 9962)
As suggested selling can be expected only if drops below 9880 -Morning session -selling happened below 9880 & Index slipped close to 9800 -Next selling continuation could have been possible only below 9800 which was not taken out yesterday & today as well.

Currently, 9975-10000 zone is very critical & important as crossing 10K can bring huge buying interest whereas if this zone holds then selling can re-start but have to check exactly how deep it can go

Auropharma (Last Price - 732)
The stock touched close to 728 below 750's - Next selling starts below 720 (strictly) for more on the downside

ITC(Last Price - 197)
As suggested while closing the idea - ITC a possible top could be 205 -Yesterday selling opportunity was close to 203-204----------Currently Trading at 197.00

Hindalco(Last Price - 141.20)
If the stock remains below 143 -has all possible chances of touching down to 115 which obviously cannot happen overnight & shall take few days.

Kindly manage your risk while trading as trading is the most difficult job when you are actually doing it.

Thanks & Best of Luck.

Trade active

22:28 Hrs / 2nd June 2020

Last price @ 9979

Harmonic Bearish Shark Pattern close to 9980 - 9995 zone which was high for the day

Trading Plan for 3rd June 2020

This pattern activates below 9950-9975 zone - strictly below the zone as mentioned & we look for targets downside as

-------------------------------------------------------------------------------------------
Note - No selling trade if Index holds above 9950-9975 zone / Above 10000 -It can go crazy upside & trap as well if falls suddenly.
----------------------------------------------------------------------------------------

Target 1 - 9845

Target 2 - 9805

Target 3 - 9600

Target 4- 9375

Target 5 - 9175

Target 6 - 9001

The Most Critical Zone 8950-9000, if breached then Index, slips for 8700 & more on the downside

Note

13:02 Hrs / 3rd June 2020

Last price @ 10103

Only for Risky Traders ---- They can look for selling once Index starts falling below 10100 but careful of not holding the sell position if sustains above 10100 later.

Take Care of yourself & your dear ones -Mumbai & Maharashtra as Cyclone -Nisarg will be hitting.

Thanks

WaveTalks

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

YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
twitter.com/TalksWave

Telegram Handle
(Deleted)

Also on:

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.