So, its a nested structure till the time 11400 is intact downside. Any pullback on account of Mr. Trump's joining office 20th Jan2017 shall be watched keenly across the globe-
Indian Group performing- Go Man Go!
Don't forget to see an Indian choreographer-Suresh Mukund from Nalasopara, would be performing at the inaugural ceremony before US President-elect Donald Trump joining office on January 20.
From 9225 lows DAX is moving into a nested impulsive structure & the last one for the season to continue upside against 11400 key & critical support.
So, there is a space of 200 points in DAX between 11600-11400 where it could dance on account of trump event, but likely holding 11400 -it moves upside making a new high above 11692- so any pullback is the buying opportunity in DAX
Finally, I am sorry to tell you that once capsule effect is done the pain shall start back.
The Box -Index is trading between 8460 & 8370 -likely any pullback is the buying opportunity in Nifty -keeping 8460 intact on top-for the day- we will look for 8370 & below 8370 for 8325-8275 these are all supports where bulls will be interested to come back again for the last laugh.
Look the Structure in Nifty & DAX - Both are ABC-----------ABC.
Thanks & Regards,
Abhishek H.Singh, CMT
When this correction is done - I am waiting for a final impulse upside close to 8500 zone, so looking for European markets to support & a new high in DAX.
DAX last price@11806
Nifty last price@8602
Likely DAX as expected gave an awesome rally yesterday 200+ points rally & final bit is left before it turns down.
Happy Republic Day to all of you!
It could be a possibility that DAX has already put a top@11890's & fall from 11890-11900 high zone was sharp down till 11460 In coming days once if it starts moving below 11450- that will support the idea moving forward regarding important top in DAX.
Short Term we are looking for a bounce to 11750-11850 zone & shall come back to see whether it is facing any resistance with strict stops below 11450 for this short term buy call.
Done & Out for DAX & Possibly for Nifty as well.
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ