AbhishekHSinghCMT
Short

Nifty/Comex Gold -Solving Explosive puzzle with Golden Shine

COMEX:GC1!   Gold Futures
Disclaimer
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

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-
11140-11150

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+

Thanks.
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.
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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 - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Thank you
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Target two achieved today spot on .
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Ok will wait till clear indication
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Well said! This should keep us sane and not get carried away!!
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Understood . Thank you .
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Thanks for the update . Thinking of shorting . Thanks for the timely update.
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Thanks abhishek bhai for updates.
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i am checking in50usd on trading view.it is our nifty index.trading at 11650.what happens if it is goes above 11700.
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@bajajct100, I have updated. It is better not to be in short position in current scenario.
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great View and perspective Sir...but what happens if it crosses 11700 i see next resistance at 11800 and then may be all time high only...?...What is your take on this...
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