Now from 1012 it was up down up move finishing set of correction & retraces 50% of the fall 1097 to 1012 in the zone 1054-1055 along with possible double top- which is not confirmed yet & will do so if it moves below 1045 & sustains below that level.
We will wait for market confirmation & price rejection in the zone 1050-1055 as the indication that it wants to move down & shall confirm if sustains below 1045.
Safe Traders- can sell below 1020-mini bottom for targets in the zone 915-925 zone.
Be ready with your fishing net could be a big fish -reliance industries- fry it or eat it raw -its your wish but let the fish die.
You would love to read my previous analysis
B- Wave Triangle with key resistance@1145
Wave Power- Magic of Cardinal Rule- Market proved me wrong
Above 1070 for 1085-1090
Excitement to start above or close to 1100- Wow! The excitement started from 1097
We should be careful below 1065 lows in present situation-closing this post as we did not get the move below 1045 as suggested above in the post for us to take sell.
Abhishek H. Singh, CMT
Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Also in my earlier analysis- Monthly chart, I pressed for 1145 -as critical level so once it moved above 1145 it exploded even further which was bound to happen as it was thrust out of a triangle. I will be putting another view next in coming days- we need to act according to key levels. I cannot be 100% correct everytime & I have to adjust as market moves but fairly I touch 85-90% strike rate if you consider all my ideas in totality.