Trade with RP 28/09/2021

Updated: Sep 29, 2021

BHEL Bollinger Bands breakout long near 57.5 SL 56.8 target 59 #Intraday


Nifty and Banknifty both opened Gap up and filled gap things not looking good for upside. A glance at the first 15 min candle looks like a correction ahead. Need to recheck charts.




#nifty


Nifty breakout point 17895 tested at the opening and went sharp down closing gap. It still didn't complete complex correction and wave Z will take it towards 0.382 Fibonacci 17785. Risky can go short near 17875-90 zones with SL 17913(day high) Non-risky can wait for confirmation break below 17814 day low. #risky

This is a bit risky if you see the first 15 min candle sharp red Marubozu then the next 15 min candle made piercing Line bullish pattern which covers half of the fall.



BHEL before and after alert chart from 57.5 to 59 target hit

Trail or book at your own risk capacity next moves up expected 60 and 61.5.




Nifty before and after alert chart suggested short near 17875-90 zones fell from 17885 to 17788. Almost target 17785 book as per your comfort or trail SL to 17815. Next expected 17745 max downside.


Nifty trailed SL hit but moved down extended targets 17745.


As it goes below 0.382 Fibonacci levels 17785 so Expecting a move towards the 17685 deep correction 0.618 Fibonacci level.


Now even don't think of going long wait for reversal candles.




One more small low is possible. Nifty expecting to time pass going in towards 17733 which 0.382 as wave 4.


Next another low towards 17645 as wave 5 possible.


From this level, 17645 reversal is expected sharp Up have to confirm with big green candle.



Just after move analysis. Couldn't see this earlier Nifty didn't go below 0.618 Fibonacci level 17563. Was expecting this to be 5 waves move looking like 3 waves move and we might end our move somewhere near 18190 then the next correction should start. Sharp upside definitely gives confidence of fresh upside and new high possible. Tomorrow is expected to be a slow and small range-bound session. Flat movement expected.




Nifty flat move with C going Up. Most likely to consolidate for some time between 17720-690.

The upside target is now 17743 which is 1.618 Fibonacci extensions will also fill the gap while going up.

Best to avoid trades today.



Banknifty moving in tight channel most likely forming wedge to move towards 37950 which 1.382 Fibonacci extensions.

Avoid trading these small moves

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