My last post was perfectly followed by NIFTY. I have expected a gap up and continue moving upside.
Nifty is near the resistance and attraction of sellers. as mentioned in the chart,
Sellers eye will be 11880-11925, though I have posted an update that nifty target is this range.
I also told you to buy TATAMOTORS strike price of 220 @ 10.1 and targets are given...
This is my last research for NIFTY and plotted up moved prediction and you know What Happened...!
Deeply researched on last Sunday for NIFTY which has a clear picture of what will be for it?
If I talk to you very frankly, there is two road-map for nifty and, from which it will follow that I don't know.
Maximum Put writing was seen around 11,500.
It seems Nifty is in wave 3 of (C or 3) and if 3 completed at 11487 then wave 4 retracement levels are 11313-11206 and for upside 100% and 123% projection of wave (C or 3) is coming at 11566 to 117098 respectively.
As we saw yesterday, there has been a lot of profit booking by Fund-Managers. Although daily candle appears technically DOGI, this is single of change trend.
Nifty price is still above 50MA and 200MA as plotted in a chart also, which indicating positive bias in the short term.
selling expected is 11729 to 11748 and below 11580 below is confirmation...
Due to illness, i was unable to come online because I was in hospital for the whole day.
Today, Nifty made strong bullish candle but, its having final and strong trend line resistance.
Trendline Resistance 12000-50
H & S pattern,
Generally Head & Shoulder pattern has 2% penetration normally.
LEFT Shoulder is at 11176 and,
HEAD at 11760
Calculated 223 points...
TRADE SETUP for short seller.
For looking at the chart closely, You will appear that 11144 nearby selling has not much risk. For sellers, the risk is low and reward is high. Intellectual traders should choose lowest risk and high reward.
Yes, absolutely selling is good decision at resistance but, question is how to identify UP-BREAKOUT?
Suppose you have sold...
As of now consider 10944-10914 as support levels. And only below 10914 we can think of downside reversal.
If wave C started from 11118 completed at 10585 then nifty needs to bounce sharply above 11118.
NIFTY 50: WEEK-TECH-SHEET-> 25th February 2019 to 1st March 2019
Nifty 50 moves around +210.40 pips from 25th February 2019 to 1st March 2019, in which nifty 50 break last week 18th February 2019 to 22nd February 2019 top 10808.85.
As mentioned on reference 09th February 2019 evening order
If it continuous to break 11118.10
Buy @t Entry: 11125