Nifty-Elliottwaves-Let us make some wedgesAnalysis Done on Spot / Cash Data
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Status Update at 09:13 Hrs / 9th April 2019
Last Price@11598
Buy Close to 11550 – 11560 zone ( No Buying below 11550)
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Key / Critical Support & Resistance Levels
11550 (Critical support level Next)
11760 (Critical Resistance Level Next)
Trading Strategy
Plan A
Buy Above 11600 for 11690-11700
Plan B
Buy Above 11700 for 11750-11760 ( No Buying Below 11700 levels)
Plan C
Buy Above 11760 for 11825-11850 zone upside (New Highs for India Nifty) – Giving us 3rd leg in the wedge structure which is our assumption.
Plan D
Selling somewhere close to 11825-11850 once you get some resistance (be careful as it non chartered area) for downside target 11715-11730
Plan E
Later Buying holding above 11700 for 11900-12000
Plan F
Selling Later on New All Time Highs for Downside Target –close to voting day in Mumbai which happens on 29th April 2019 for downside target of 11310-11325 zone as suggested over the video.
Plan G
Buying in 11310-11325 support zone for upside target 11425-11475
Plan H
Selling Also below 11300 for 11120-11150 & below 11050 for 10730-10785 ( Nation Strike’s Back Zone)
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“Say Cheese” Moment for me in last few days
5th April 2019
RBI cuts repo rate again by 25 bps as it did last time in Feb 2019 & we were sellers close to 11117 Idea as published earlier – “History has the answer - Careful above 11050”- Result was fall to 10585 (Double Bottoms)
7th April 2019
Got the push to 11690-11700 zone & Selling was suggested below 11700 for 11610-11620 zone which got extended to 11550 (Critical support level Next)
8th April 2019
Fall Started with gap open & making 11710 new highs for the day- yesterday – 11550 is critical support level next.
Thanks for watching the video & Your support. Enjoy The Markets.
