AbhishekHSinghCMT

Nifty- Crossing Across Bullet Train at 8100- Amazing

Short
AbhishekHSinghCMT Updated   
NSE:NIFTY   Nifty 50 Index
13
This is called nirvana if you are alive, crossing a bullet train-just imagine the speed with which the train would be running. Imagination itself will give you goosebumps. The flux of sellers coming at 8100 is a similar situation.

Its a complex most correction happening since 7915 bottoms & we are again in the sell camp right close to the top.

On top we had resistance level at 8155 once it crosses 8055-8065 zone.

Early this morning, got a small upside move to 8100 & visualized right at the top that holding long positions shall be risky.

It is wave-c which is running into wave-((b)) likely to complete close to 7900. Once done- it will start its wave-((c)) on upside for Jan2017

Previous Analysis- Sell the bounce 8000-8025 - Click the charts & load the bar- cracking 7940 to 8025

Related Analysis Attached Below
Trade active:
22:40 Hrs 28th Dec2016

Last Price@8034

Strict Stops@8101

If it falls close to 8000-8010- Likely there could be a bounce, which can be used for further selling & falling below 7970- pressure will be visible.
Trade active:
10:09 Hrs 29th Dec2016

Last Price@8048

Nifty will continue its sell once it starts moving below 8020-8030 zone & bounce cannot be denied to 8070-8080 zone
Trade active:
10:41 Hrs 29th Dec2016

Last Price@8051

As per the update@22:40 Hrs 28th Dec2016- I have update if someone taking a fresh position they keep that view in mind-one should never trade in between- either trade on top or bottom where one loses less & if gains it could be good enough.
Trade active:
13:01 Hrs 29th Dec2016

Last price@8054

Just don't keep drawing figures - execute them because there you have real money- so sell at tops close to 8100- keep stops 8101 --- selling could be in the range 8070-8085 & buying at bottoms 8000-8010 -which has been done in the morning -- going below 8020-8030 -shall put nifty in pressure -more pressure will be seen if it breaks 7970.
Trade active:
15:04 Hrs 29th Dec2016

Crossed previous high@8100

Likely it should not do which invalidates short term move, but till 8155 is not breached on top- I shall avoid taking long positions.

We lost 20-25 points in the short trade -making it null today as we bought in the morning session.
Trade active:
09:13 Hrs 30th Dec2016

Key Level-8020

Unless 8020 is broken- Nifty cannot move down & holding above 8100 -it's all upside till 8150-8155.
Trade active:
09:55 Hrs 30th Dec2016

Last Price@8161

8155 was breached upside so pullbacks should be looked as buying opportunity -in current situation 8020-8030 shall become support.

Possibly we have completed the 1st impulsive leg upside. we will wait for corrections to happen -risk takers can look for selling ops -but these corrections are tricky so I will wait for buying in the support zone.

Looks like we have started upside & there was some truncation & UJ (USDJPY) is also looking for a sharp jump from 116-116.50 area for 119-120 which will support Asian markets as weak Japanese yen against stronger dollar won't allow Asian markets to fall & shall support -so any pullback now I will look to buy.

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

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