Nifty - Bearish Bat Push 11455-11465 & Can it fall?

NSE:NIFTY   Nifty 50 Index
Two opportunities - First Long & Later Short

20:16 Hrs             16th Aug 2018

Last Price - 11385

Looking for an upside push with final leg in bearish bat pattern whose PRZ falls between 11455-11465 -

Once Nifty             pushes in the upside zone of 11455-11465 & faces resistance then you may look to sell for lower targets downside.

Trading Strategy

  • Plan 1 - Buy for upside target 11425- 11455/11465 with strict stops below 11365 - Keep Trailing your stops

    Plan 2 - Sell with harmonic pattern in the zone 11455-11465 if Index faces resistance in the PRZ shown. Keep strict stops upside above 11480 & sell for downside targets of 11410 - 11375 - 11340 & finally 11200-11225

Always motivate the author by supporting the idea in time as time is important factor - Authors take lot of pains to write the reports.

Last Update on Bank Nifty            

Trade closed: stop reached: Closed.
Comment: 14:41 Hrs 17th Aug 2018

Last Price@11482

Even the idea is closed as stops slightly above 11480 taken out -One should be careful as market takes all stops above 11480 & falling below 11480 - could be the trap.
Do not get convinced easily. Any good move we will plan only above 11500 which will open for upside big else enjoy the weekend.

Take Care.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Sir I would like to join you . what is the procedure?
AbhishekHSinghCMT rajivahuja.rka
@rajivahuja.rka, Where you want to join ?
rajivahuja.rka AbhishekHSinghCMT
@AbhishekHSinghCMT, I would like to join your services on nifty, if you're providing. I m from Kolkata.
AbhishekHSinghCMT rajivahuja.rka
@rajivahuja.rka, I don't provide any service on Nifty. I write few times in a month. You can follow authors to get their updates.
It means nifty still can go down ?
AbhishekHSinghCMT rajivahuja.rka
@rajivahuja.rka, Yes. Psychological zone 11480-11500 +/- 25 points is danger zone. Unless it crosses 11500 & sustains / holds then I will think for upside else downside.
rajivahuja.rka AbhishekHSinghCMT
@AbhishekHSinghCMT, sir just one question, you told that closing below 11480 could be a trap...trap for bulls ...am I right
Is the pattern still valid? Do we need to look at 11480+ as per closing basis?
AbhishekHSinghCMT SaahilHingorani
@SaahilHingorani, Pattern invalidates above 11480 but Psychological levels such as 11480 - 11500 draws attention & closing below 11480 is all reason to doubt as I stated above in the update.
SaahilHingorani AbhishekHSinghCMT
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