Taking 930 as the bottom of e-wave in the triangle from where multi year thrust was seen. Wave 3 within the thrust looks completed at 261.8% of Wave-1 distance. So, we shall look for correction from 1450 highs.
I shall be searching for support either at 1310-1320 zone or between 1230-1250 zone for next buying. If corrections happens to the zone 1230-1250 where it retraces 50% of wave 2- wave 3 distance can be a good spot for the last upside leg.
The fall looks impulsive from 1449 recent high & any bounce close to 1390-1400 should be taken as selling opportunity.
Trading Strategy
Shall be selling on the bounce close to 1390-1400 zone with 1425 as stops - remember futures are banned so look to buy in the zones 1310-1325 & if dips below 1300 then 1230-1250 zone as next support zone for buying.
Last Update- It was informed that above 1295 -it looks good for buying.
Last Update- we will continue this post once impulsive sequence is done - I am expecting one down leg & final leg upside which should finish the complete structure
I shall be searching for support either at 1310-1320 zone or between 1230-1250 zone for next buying. If corrections happens to the zone 1230-1250 where it retraces 50% of wave 2- wave 3 distance can be a good spot for the last upside leg.
The fall looks impulsive from 1449 recent high & any bounce close to 1390-1400 should be taken as selling opportunity.
Trading Strategy
Shall be selling on the bounce close to 1390-1400 zone with 1425 as stops - remember futures are banned so look to buy in the zones 1310-1325 & if dips below 1300 then 1230-1250 zone as next support zone for buying.
Last Update- It was informed that above 1295 -it looks good for buying.
Last Update- we will continue this post once impulsive sequence is done - I am expecting one down leg & final leg upside which should finish the complete structure
Trade active:
13:26 Hrs 11th April2017
Last Price@1377
Falls from 1400 -after opening it bounced in the desired zone & started falling.
Last Price@1377
Falls from 1400 -after opening it bounced in the desired zone & started falling.
Trade closed manually:
18th April2017
Closing this post at 1369 Price
Closing this post at 1369 Price
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)