Following up on my Divergence idea where I predicted a bullish breakout; the breakout is clearly following Elliot waves as indicated on the chart. On the last idea, I have already predicted the wave 4 as you can see in the updates. Gear Up for wave 5 with Targets in excess of 196: T1-196, T2-198, T3: 200
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Consolidating market overall - NIFTY bouncing between S&R. I will hold my position. Switching to SBIN Futures
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Positive news about disengagement in Ladakh. Staying In; SL updated to 190
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holding positions overnight
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Market appears bullish overall - T1 should be in sights. Ill be 'cautious if there is a large gap up opening tomorrow! Also last Thursday of June will also play a role in dictating profit bookings and market direction.
Trade closed: target reached
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Closed at 194.5 I don't like Gap Up Openings.
Will buy on Dips - July 200 CE Options
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Bought them at 10.65 will hold them till July with a SL of 8
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I believe this was the real wave 4 governed by the gap-up opening and June expiry - The wave 5 is still coming ! Could be my bullish bias talking.
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"The stock market is a device for transferring money from the impatient to the patient." - Warren Buffett.
My T1 and all is 197 for tomorrow. The stock should come down to 187 at closing. Let's see.Gap up opening is not ruled out
raj_rishav
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@prabhatgupta1207, that's a large intraday volatility prediction; up by 5 and down by 10!
I exited as updated above - I hate gap ups
amanagarwal2714
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Can you teach me Elliott wave?
raj_rishav
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@amanagarwal2714, sorry boss - try the wiki page - that's where I learnt it and there are plenty of nice educational ideas in here - just browse
p98290
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very nice sir,
today i am holding my progintion
raj_rishav
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@p98290, Thank You! the analysis here is my own - the purpose of sharing it is only to attract feedback to my analysis - its not a trading advice! stock trend analysis is based on personal judgement - the same patterns can be looked at a different way altogether - you will see various other posting recommendations to short the stock looking at the same things as well - I have myself lost money (and made some ) while following some recommendations blindly! Please follow your own instincts !