Morning !
As per my last post on 14th for covering NIFTY for 175-200 points for the SELL given in range of 8230-8250....which lands in the zone of 8075-8050......though i was anticipating zone of 8030-8000-7980.....NIFTY reversed from 8063 on 13th June post breaking the range bound trading happening for 2 to 3 sessions. If someone had not got a chance to exit on 14th then yesterday could have been a lucky day for few.
Yesterday i posted this call on Moneycontrol MMB board: BUY NIFTY AT CMP SPOT 8150 with TARGET of 8350 and SL of 8050 1:2 risk reward ratio BUY BANKNIFTY AT CMP SPOT 17777 SPOT with TARGET of 18077 and SL of 16666 1:3 risk reward ratio . I mentioned the stop lost for both but did not mention that they were on closing basis, which is my bad. Please consider these two stop losses on closing basis for the upside targets intact. As i know that Banknifty's SL was taken away yesterday during intraday but it gave a closing just above the SL of 17666 (which also was a typo at my end as 16666) as it made a low of 17545.80.
My targets in terms of risk reward ratio are usually a minimum 1:2 and the SLs provided are for very strategic level which should be adhered. As of now the upside targets are both intact for NIFTY at 8350 and BANKNIFTY at 18077.
As mentioned in my earlier post that 8265 is a critical level for nifty to cross because the wave structure on upside looks incomplete. There are a lot of levels that need to be achieved by NIFTY (IRRESPECTIVE OF THE BREXIT/BREMAIN EVENT).
Stay tuned to ride this impulsive on upside with the same intensity when it broke 7777 and 7941.
Happy Trading !
As per my last post on 14th for covering NIFTY for 175-200 points for the SELL given in range of 8230-8250....which lands in the zone of 8075-8050......though i was anticipating zone of 8030-8000-7980.....NIFTY reversed from 8063 on 13th June post breaking the range bound trading happening for 2 to 3 sessions. If someone had not got a chance to exit on 14th then yesterday could have been a lucky day for few.
Yesterday i posted this call on Moneycontrol MMB board: BUY NIFTY AT CMP SPOT 8150 with TARGET of 8350 and SL of 8050 1:2 risk reward ratio BUY BANKNIFTY AT CMP SPOT 17777 SPOT with TARGET of 18077 and SL of 16666 1:3 risk reward ratio . I mentioned the stop lost for both but did not mention that they were on closing basis, which is my bad. Please consider these two stop losses on closing basis for the upside targets intact. As i know that Banknifty's SL was taken away yesterday during intraday but it gave a closing just above the SL of 17666 (which also was a typo at my end as 16666) as it made a low of 17545.80.
My targets in terms of risk reward ratio are usually a minimum 1:2 and the SLs provided are for very strategic level which should be adhered. As of now the upside targets are both intact for NIFTY at 8350 and BANKNIFTY at 18077.
As mentioned in my earlier post that 8265 is a critical level for nifty to cross because the wave structure on upside looks incomplete. There are a lot of levels that need to be achieved by NIFTY (IRRESPECTIVE OF THE BREXIT/BREMAIN EVENT).
Stay tuned to ride this impulsive on upside with the same intensity when it broke 7777 and 7941.
Happy Trading !
Sir any update plz.
ReplyDeleteNeet: Yes, i would provide update today only....as of now the 8350 and 18077 both are intact, would explain in my post what happened on friday and where to create new long position on monday.
DeleteThanx for d reply sir.but still there's no update till now??where to enter??tomm??
ReplyDelete