Nifty - Bearish Gartley at 9960-9965 - Look for 9855-9865 Target

NSE:NIFTY   Nifty 50 Index
611 5
09:45 Hrs IST - Last Price@9961

There is a resistance zone between 9955-9965 & possible failure can be expected for bulls on short term basis. Holding the zone 9960-9965 on the upside - we can look for 9855-9865 zone as our classic target zone achieved in last update from 9985 to 9860.

Bank Nifty - Bn as well is holding at the levels of 24400 which was yesterday's high.

Previous Update - An awesome fall from 9985 to 9860- Cracks 100 points & bounced - back in the pavilion.
Trade active: 10:55 Hrs 8th Sep2017

Last Price@9942

Cracks in 1st Installment to 9930 - One should book partial & join below 9930 or take short on bounce.
Trade active: 11:15 Hrs 8th Sep2017

Last Price@9948

Got a small bounce from 9930-9935 to 9948 levels. Which could have been used as sell on bounce strategy mentioned few mins back.
Trade active: 11:31 Hrs 8th Sep2017

Last Price@9944

Repeating - we take sell below 9929-9930 session low for the day or look for a bounce to same highs or close by highs of 9955-9965 Zone -if holds on upside then we sell again.
Trade closed manually: 20:53 Hrs 8th Sep2017

Last Price@ 9925

Cracked from the top@9960 but It was choppy move. Closing the update. Thanks
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
What about the ascending triangle on daily ?
@Basty, This is a short term trading - Daily Chart are always for long term in which Nifty is trapped between 10000 on upside & 9800 downside unless it breaks the zone - you don't know which side market moves.
may i can go short here
@vmkalola, If you can take stop loss of 10-20 points possibly above 9970 - Then sure. As market has no guarantees for any trade & involves risk in trading. Well I gave at 9959-9960 -already it is 10 points down.
+1 Reply
vmkalola AbhishekHSinghCMT
@AbhishekHSinghCMT, ok thanks
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