Suggested at the Tops from 85 (Selling strictly below 85) as per last stock idea- Stock got punctured in impulsive manner to lows at 34.
What Next ?
Strictly - crossing 40 & holding above this level - traders can expect 45 / 50 / 55 & Above 55 - 60/65.
Last Idea Published - 24th Feb...
One can look for buying April Contract 3000 PE @ or near 85 , CMP 102.00 and book near sport drop to 3000 and PE price i am looking to book @ 170
No stop loss as this is heading in very narrow range , You might see Gap up open and high run in spot for 3310 or 3325 ,
I am looking for new low in this scrip , i have currently forecast as Maximum pain value ,
it might go up to it or might make pause in between and reverse , but new low is coming tats for sure
once can look for short sell set up
This scrip has completed 5 wave move down as 1st cycle Wave A , also interestingly it has Made 3 Wave Pattern with in the Extension of Wave 3
Now this need to close Strong on weekly to take the up the trade , it might take some time due to bearish sentiment
Now upcoming trend might be the Complex B Wave or X wave which one it will be i have no idea , so...
I am looking strong reversal in this scrip after an sharp move down ,
One can wait for the price to tag and reverse , suppose if fails to make to that point i would probably ignore this trade and look for different set up
One can look for close below the recent strength candles for short sell set up and look to book near the forecast
One more important point i only trade in Futures segment , so for cash traders you can look to trade Options buying in PUT and exit them with your own method of profit booking
One of the Most interesting part of wave theory is Extensions , where usually you will find extensions either at 1 Impulse wave or 3rd Impulse wave in stocks
but when you find an extension in 5th wave , its very high likely the 5th of 5th wave will get extended
You can visually look the price extending in deep move
One can expect the termination near the...
One of the hardest part in trading is forecasting ending sequence
this scrip is heading for one more drop , and that drop could form in this pattern ,
You can ignore this move or trade with care with this range
I am looking for progressive structure in this scrip , and usually the progression takes place in the form of making higher high and higher low
i am looking to book near 1st take profits of my futures contract,
my buy set up is it has to give me an pull back and reverse entry