AbhishekHSinghCMT
Short

Bank Nifty- 1500 points & 345 - What's Next- Are you Kaabil?

NSE:BANKNIFTY   NIFTY BANK
1284 21 22
A riddle which gave me goosebumps. A melody which was created by market touched my heart & I felt through my eyes. A thrill which passes through important element. An emotion which can make you weak at times. Dawn to Dusk its all excitement. It will start slowly but when goes in the middle- it gives you punch if you are on the wrong side. Common don't be scared you won't fall off the roller coaster ride because its community bonding which will hold you. Turn your weakness into strength- afterall whoever can control oneself-They are called "kaabil".


What Next?
RSI slowing in 3-5 sequence that means there is a divergence setting up -prices have made rocket move but indicator did not even cross its previous high that is Negative Divergence-shown by blue line on RSI .

Divergence is not a timing tool so piece of advice do not use it often-it is just another tool for confirmation to keep you on track-6 steps you go into a black hole.

So we will be searching for selling opportunity starting this week & middle of Feb2017- as per earlier updates -Jan-Feb2017- be careful

Trading Strategy
We will wait for some pressure from market & in the bounce we will decide to trade the market on the downside. Connecting clues from DAX- What a move from 11575-11900 zones-3rd over moving into 4th which will take atleast a week & sideways action before they run into the final leg upside- they align with us- 345- Be careful.

Dax & Nifty- The last bulls capsule
DAX & India Nifty- The Last Bulls Capsule from 11400 -Trump Card


Previous Analysis
Happy Jan Series
Bank Nifty- Bearish Engulfing & Happy Jan2017 Series


Super 17828-did you use it
Bank Nifty- Super 17828 Support-Did you use it?


Happy Republic day- Up- Up & Away -possible final leg from 18700-18800

BANKNIFTY- Possible Final Leg from 18723 Low- Happy Republic Day

Trade active: 08:07 Hrs 31st Jan2017

Closing Price@19585 as on 30th Jan2017

Some pressure was seen from the top -we will wait for the bounce in the zone 19700-19730.

Risky trade- once Bn sustains or holds above 19600 can look for a push into the zone 19700-19730 & putting a stop above 19795 -once it starts falling back below 19700 for a sell trade

Safe Trade- we will wait for the bounce to 19700-19730 zone & would be interested to take sell once it starts falling below the lows of 30th Jan2015.
Comment: 08:12 Hrs 31st Jan2017

Sorry for big typing mistake- Above its stated 30th Jan2015 ---instead of 30th Jan2017
Trade active: 09:55 Hrs 31st Jan2017

Last price@19500

BN did not move above 19600 for risky buy call to be active.

Made a recent low@19445- if bounces close to 19550-19575 & starts falling back below 19550 then putting stops above 19600 we will look to sell for targets 19350-19375- & once it starts going below 19500 then trail your stops to entry price of selling to manage your risk component.
Trade active: 10:11 Hrs 31st Jan2017

Last price@19565

Entered the zone of 19550-19575 as stated above-we will watch carefully now.
Trade active: 10:25 Hrs 31st Jan2017

Last price@19500

Sitting 19500 -Turns from the zone 19550-19575 - recent High 19567. Kindly manage your risk component if sustains below 19500 -it likely travels to 19350-19375 zone
Trade active: 12:00 Hrs 31st Jan2017

Last Price@19474

If 19440-19450 zone is not taken out, then likely there is a support which is coming or it should pierce 19435 for 19325-19350 zone -I have shifted little down as price is spending some time here in 19450-19500 zone.

If zone 19440-19450 holds, then one can look for profits & allow Bn to bounce back again to 19550-19575 zone -we will wait & once again if it starts falling below 19525 then we will take sell positions with recent high as stops.
Trade active: 13:17 Hrs 31st Jan2017

Last Price@19577

Recent Bounce Price@19623

Awesome - It jumps exactly from 19435 -day's low as expected, BN did not pierce 19435 as stated above- Bang On!
Trade active: 13:27 Hrs 31st Jan2017

Last price@19553

Its not sustaining below 19525 so we won't take sell positions here & wait for bounce close to 19650-19685 zone- if we get then we will think of selling again.

Today we are selling on bounces
Comment: 13:50 Hrs 31st Jan2017

Nifty Update

Last price@8590

Similar move is happening in Nifty as well it is bouncing from day low so any move below 8555-8570 & sustains down, then putting stops above 8620 -likely Nifty sell positions could be taken.
Trade active: 07:55 Hrs 1st Feb2017

Last Price@19515
Recap - Selling from 19550-19575 to 19350-19375 later modified to book profits between 19440-19450 zone & suggested that it could dip further only if 19435 is pierced.

Wow!- 19435 was the low for the day & BN bounced sharply to 19625 - It is tricky to come up with exact levels but was correct to pick the U-turn from 19435.

snapshot
Trade active: 14:26 Hrs 1st Feb2017

Last Price@19900

Recent High@19975

Never jump in a running Train -I always keep telling -if you want to go long let it retrace some bit possibly if it comes in the 19690-19720 zone -if holds, then look to buy for 150-200 point target with recent low as stops once it starts above 19750.
Trade active: 14:18 Hrs 2nd Feb2017

Last price@20128

Day's high@20145

Be careful on top@20130-20150 Range - Divergence is strong & can turn abruptly or suddenly giving jerk to bulls - Kindly do your analysis & cross check -fall can take to 19950.
snapshot
Trade active: 17:31 Hrs 2nd Feb2017

Last price@20070

Wow! -I am excited that it turned from the zone 20146 & before closing made a low@20003 & closed@20070.

Let us see how it moves tomorrow.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Hi Abhishek,

What is your view on BankNifty hereon when it is very close to supply Zone / all time high and simultaneoulsy ahead of RBI policy where markets are bullish? Please advise strategy for tomorrow and day after tomorrow. Thanks
Reply
@samayra, This zone is very important 20565 is critical level. BN should not cross that level if that level holds then it will be scary days for Bulls next.

Reply
banknifty close to 20575 high will it work as ur calculation pls suggest
Reply
Hi Abhishek,

BN surged as expected. As per counts seems price is in pressure area. What level should I see for a reversal?

Request you to share your thoughts.
Reply
@TusharThete, Its in last stages - Momentum is lost -cannot deny 150-200 points jump if retraces back, but surely need to be cautious & careful.
Reply
MukeshRajpurohit AbhishekHSinghCMT
@AbhishekHSinghCMT, sir today bank nifty expiry plz suggest for today
Reply
AbhishekHSinghCMT TOP MukeshRajpurohit
@MukeshRajpurohit, I am busy & shall be joining next week so kindly manage. Apologies
Reply
AbhishekHSinghCMT TOP AbhishekHSinghCMT
@AbhishekHSinghCMT, Hi Mukesh, I am back on your request. Got some time & ru. be careful@20145 BN can turn sharply down.
Reply
AbhishekHSinghCMT TOP AbhishekHSinghCMT
@AbhishekHSinghCMT, Wow!- Bank Nifty turned down from 20146 - Amazing@2nd Feb2017
Reply
MukeshRajpurohit AbhishekHSinghCMT
@AbhishekHSinghCMT, THANKS FOR YOUR VIEW SIR
Reply
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