A ball at block hole is very difficult to bowl & that too in a condition where spectators are shouting -loser -loser to the team who is playing against the home team.
Conditions become tougher with the Mexican wave running over your head, making you feel nervous, but if you follow basics & have "do it attitude" as Attitude sums up to 100% - No one can stop you other than yourself.
Mexican waves are worth watching.
Given each letter of the alphabet a number, A=1, B=2, C=3 etc. If you add up the letters of the alphabet in the word "ATTITUDE", this is the result:
A = 1 T = 20 T = 20 I = 9 T = 20 U = 21 D = 4 E = 5 which is 1+20+20+9+20+21+4+5 =100, so see ATTITUDE = 100%
The greatest discovery of my generation is that you can alter your life by altering your attitude.
in the Zone 442-445 - Retracing close to 38.2% of the Wave 2-3 distance has fulfilled its criteria of minimum bounce which was expected in the previous update.
Resistance -Getting resistance in the zone right at 445- is a block hole delivery & suggested that we shall book profits in the interim updates on the previous post.
Going below 435 (Next Support comes in the zone 425-427 Zone- that zone too should be broken) - then we shall look for a downside move till 405-410 zone, which can be extended downside if 405-408 zone is also broken down as it is very important & we will finish impulsive leg downside from 515 highs.
Previous Update@8th May2017 - Lawyer won the case - From 423 to 445 = 22 points
Previous Update@26th May2017 - Act like Lawyer - From 430 to 410 = 20 points
As a risk taker -trader could have sold at recent high of 443-444 just few mins back as one had only risk of 1-2 points to lose.
Falls from day high 445.90 - TECHM also showing some sign of fall & started from the zone 443-445.
Sell below rising trendline or below 438 lows for downside move
Only Risk Takers will sell as we don't have any stops to be maintained - safe traders who have minimum risk taking capacity should trade below 438 or as shown above in above update.
Nice Fall here as well from 445 zones
Falling as expected - got couple of chance today as well from 440-445 highs to sell on bounce.
Next, if goes below 420 then we sell or continue sell for 413-415 zone prior support or if holds 420 then we look for a bounce to sell.
At 408.50 Target - Done & out
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ