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WaveTalks
May 10, 2021 7:40 AM

Nifty - Corrective Wave + Bearish Bat (Selling Below 15045) Short

NSE:NIFTY120
Nifty 50 IndexNSE

Description

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Reasons for sell
• Falling Trendline can act as resistance connecting 15336 & 15045 Highs
• Corrective wave close to end its structure which started from 14416 lows
• Bearish Bat Harmonic structure PRZ below 15045

More confirmation for selling to be confirmed
• Once Index takes out 14890-14900 zone
• Slips below gap up zone 14828-14892 zone

Target Downside
• 14765 (Target 1)
• 14725 (Target 2)
• 14605 (Target 3)
• 14415 (Target 4)
• 14350 (Final Target)

Stops or Invalidation Level*****************
• Rally upside above 15045


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Last Idea Published





Trade active

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09:39 Hrs / 14th May 2021

Last @ 14650

Day Low @ 14618

#rd Target - 14605.......Almost reached. Book Profits & Next Sell only below 14400 or we wait & watch

Trade closed: target reached

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12:27 Hrs / 14th May2021

Last @ 14640

14765 (1st Target) / 14725 (2nd Target) / 14605 (3rd Target) - Partial Targets reached as suggested.

Thanks & Happy weekend
Trend AnalysisWave AnalysisBeyond Technical AnalysisBearish Batbearishharmonicswavetalkswavetheorycorrectivestructurecorrectivewave
Comments
akhil2fast
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True Sir we are near the weekly fib level 618 at 14975 this is pretty hard to break most of the time.
Also 14697 breaks will have pretty decent fall. Avalanche fall if it breaks 14310
WaveTalks
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@akhil2fast, Yes. True
krish2051
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Awesome. Idea. Hope for the best. I am always against the bubble markets. I was through 2008 crash. My parents still not recovered to the RCAP, Rinfra stocks
WaveTalks
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@krish2051, Sad to know about 2008 fall. I have seen myself as I was part of Commodities trading.
Sunny1103
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Kal girega?
WaveTalks
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@Sunny1103, Wow. Girgaya!!!
ilabivar999
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I bought nifty PE 15350 all money in loss now there is chances for recovery beacuse ce already touch 15000
WaveTalks
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@ilabivar999, Options unfortunately cannot comment
arul1021988
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Shorted near 14960 as the price gets rejected in shorter tf several times for the target as mentioned in this pattern.Thanks
WaveTalks
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@arul1021988, Superb!!!
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