AbhishekHSinghCMT

Nifty- Sell the Bounce 8000-8025-Part2

NSE:NIFTY   Nifty 50 Index
1274 31 16
Nifty             has a key resistance zone 8020-8025 & critical resistance 8055-8065. Any bullish opportunities should be looked once it crosses above 8055 mark.

Holding above 7900- It can look for a bounce again in the zone 8000-8025 & it should not move & sustain above 8025-as that will be the initial clue that critical level could also be breached.

Going in the zone & falling back below 8000 shall indicate that it wants to move down below 7900- I am looking for a target zone 7850-7870.

Trading Strategy 1
Moving above 7940 with strict stops below 7895 -one can look for 8000-8025 zone as target zone-be careful of 7895 in this buying scenario.

Trading Strategy 2
Selling on the rise in the zone 8000-8025- Should not cross & sustain above 8025 for more than 15 mins then sellers should be careful else kissing the zone & holding below 8025 & falling back below 8000 will comfort sellers- in that case target zone shall be 7850-7870.

Connecting Update
Use the bounce 8000-8025 to sell-click the chart & load the bar


Happy to catch the top@8020's-What Next?

Trade active: 09:57 Hrs 27th Dec2016

Last Price@7927

Strategy-1 is still not active as it did not move above 7940 & made day's high@7935. Be careful if 7940 is not broken to the upside & it keeps flirting here in the zone 7940-7890 range & consumes time -later leaking below 7890-it will open downside for 7840-7850 zone which I expected post a bounce 8000-8025 & a fall later. If this mentioned scenario unfolds- we have a sell call for target zone 7840-7850 with strict stops above 7940.
Trade active: 10:33 Hrs 27th Dec2016

Last Price@7933

Recent High@7940 - Nifty is not sustaining above 7940 mark -atleast should hold for 10-15 mins- Then it will be better short term buying for 8000-8025 zone else it will keep moving sideways & shall trap traders- downside we have 7890 as key support.
Trade active: 21:41 Hrs 27th Dec2016

Closing Price@8032

Day's High@8044

It was boom 100 points rally right in the block hole- if holds on top 8055-8065 -important resistance zone & falling back below 8000 shall give us clue that it wants to dip again to 7840-7850 else going above 8055-8065 zone it opens for upside. Let us wait for market direction tomorrow.

snapshot
Trade active: 12:02 Hrs 28th Dec2016

Last Price@8081

Resistance zone of 8055-8065 broken now new resistance zone on upside 8150-8155

Nifty moving above 8070 can extend to 8115-8135 in current up leg with 8000 as key support for Intraday
or
Nifty landing in the zone 8025-8040 can be taken as buying opportunity, but be careful of strict stops below 7990-- Target on upside shall be 8100-8110-8120
Trade active: 13:54 Hrs 28th Dec2016

Last Price@8097

Day's High@8099

Book & let us take rest as the market is going to be choppy & waste time & I shall avoid further long positions. Running late on the upside but no confirmation from the market for taking sell positions.
Trade active: 14:09 Hrs 28th Dec2016

Last Price@8078

Now we will sell
Trade active: 14:22 Hrs 28th Dec2016

Last Price@8047

Look the candle size so many of them sold at 8100- big red candle.
Our Stop will be 8101- Shagun le lo.
We are in the trade- This is nirvana cracking nifty right at the top@8100- first booking in long call at 8099 from 8080 & then waiting & nailing it across. Let us wait -it could be the big fall of 7840-7850.

snapshot
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Thanks, missed your update.
Reply
Once again rocking. Informed to sell at the neck movement. Good. Thanks and keep it up.
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@venkaticr, Enjoy & Welcome- Today's long call from 8080 to 8099 is the money I am using to put a stop above 8101 so nothing I will lose from my pocket. I got goosebumps after a long time. Excited
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Wat A Alert & Timing..... Super
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@krppijain, Let us enjoy the fall going forward.
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Great Analysis Sir
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@Madhav, Thanks
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RSI is at very low level can we expect the market momentum upwards
Reply
@ymaheshreddy4u, Good Morning, RSI is at very low level means its oversold so which never tells that instrument could start moving in opposite direction-there are several instances seen -momentum indicators are at extreme oversold or overbought situations & still financial instruments get the beating of their life. Yes we could be next to an up move but we need to wait for markets to show us the way.
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ymaheshreddy4u AbhishekHSinghCMT
@AbhishekHSinghCMT, Thank you sir
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