Nifty/Comex Gold -Solving Explosive puzzle with Golden Shine

COMEX:GC1!   Gold Futures
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Comex Gold
Trading above 1490$ - There is room for gold to move 80-100$ upside in 1580-1625$
Later below 1490$ - It can slip to 1410/1265/1050$ as per long term strategy.

Nifty Index
Holding below 11310-11325 – Bias remains negative & whole explosive rally of last trading day could fizzle out & Index could slip back to

Target 1-

Target 2-
Below 11140 – target is 11080-11090

Target 3-
Below 11080- Expect 10950

Target 4-
Below 10890– Expect 10750

Target 5-
Below 10740– Expect 10580-10615

Note – Above 11325 – This idea gets invalidated
Trade active: 07:30 Hrs / 23rd Sep 2019

Good Morning!!!

SGX Nifty is +100 so likely benchmark Indices opens gap up.As suggested above 11325 - this idea gets invalidated.
No sell would be taken & shall wait for some time to check the response & don't get excited as that could lead into unfavorable position.

Now, after a long time -I am reminding again : Index is extremely positive from 10300-10600 zone to 13K & 15K+ targets which could be achieved in another 3-5 months.

That is the reason- If you pull up few stock analysis which I did earlier

SBIN above 250's can head upside to 450-500+ target

BOB - Bank of Baroda - Can push upside above 90's for 200+

Tata Coffee above 80's for 140/250+

TataSteel could shine again from 325 to 700+ / 900+

Trade active: 09:22 Hrs / 23rd Sep 2019

Last Price@11545

Day High@11666

Sustaining on high levels is tough so avoid in buy positions at this place. You can plan to buy only if Nifty drops to 10800-10900 - Most likely 11637 should hold.

So, Drop can be expected from 11666 highs to 11380-11400 & below 11275-11300 for 11000 Below 11000 for 10800-10900 which will hold 10637 lows. Thanks
Comment: 09:26 Hrs / 23rd Sep 2019

Typo error ----------------- 10637 instead of "11637- wrongly typed"
Trade active: 09:40 Hrs / 23rd Sep 2019

Last Price@11517

Picture of the Day & What I expect Next. Thanks & use proper risk management to trade in markets which is volatile at the moment.

Trade active: 12:58 Hrs / 23rd Sep 2019

Last Price@11637

Day High @11695

Only Risk takers

Surpassed 11666 & made new high at 11695 - Looks choppy upside till psychological level 11700 is protected next - on Intraday basis we can assume correction.

Downside we look for 11475-11500
Trade active: 07:07 Hrs / 24th Sep 2019

SGX Nifty opening 2nd time 80+ points suggesting that the explosive move which was expected from lower ends has probably started.

So, do not fight with the trend.

Going above 11705 - " holding above 11705 - it can push upside to 11950-11980
Anytime later below 11475-11500 only we need to review the structure.

Going above 11981 - we need check 20 points space 11980-12000 for resistance crossing 12000 & holding above 12000 -it can push even further to 12100-12200. Thanks
Trade active: 09:29 Hrs / 24th Sep 2019

Last Price@11623

I will repeat my words again - at bottom close to 10650-10700 zone -most of us was expecting that Index should falling & continue upside

Now after few days only when Index started moving in explosive manner almost 1000 points - most of us expecting that it should stop the upside move -isn't this funny! This what called as "emotions" & when emotions come into trading - we all stop thinking & get carried away.

So, mood change from bullish to bearish / bearish to bullish isn't so easy -it takes time.
Happy to see that SGX Nifty was 80+ but Nifty India did not get the gap up move which is 1st clue that it could be topping out soon so we need some patience & worst scenario will be for bears is going above 11705 - they should not fight with trend & wait for their chance.
Trade closed manually: 11:02 Hrs / 24th Sep 2019

Last Price@11584

Please follow previous updates & plan your trades accordingly. Thanks

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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