AbhishekHSinghCMT

Nifty- Alternate Count-Strong Bearish (need further clues)

NSE:NIFTY   Nifty 50 Index
654 11 6
If Nifty             fails to bounce back above 8550-

Alternate Count- More Bearish Case- labels with pink color.
Which is an important clue to me as per my primary wave count- from 8968 to 8506 as larger wave-1 then a bounce back to 8737 ( W-X-Y             ) giving A-Wave             (Alternate Count- wave-2 finished at 8737 highs)- we are in smaller wave-(i) of wave-3-- Output- We can expect nifty             to fall sharply

Primary Count- Bounce expected close to the zone 8850-8900 before we fall again
Wave-2 yet to finish & just done with W-X-Y             ( A-Wave             ) -at highs 8737 -then fall in W-X-Y             (B-Wave- currently running) shall be confirmed done once Nifty             moves above 8550- a key level.

Nifty-Can this dream turn into reality Part 2
Trade active: 08:55 Hrs 9th Nov2016

SGX Nifty- 300+ points down & Dow Futures 600 points down

Deep Bearish - Bulls are trapped- This is what happens- surgical strike- no time for reaction
Trade active: 08:18 Hrs 10th Nov2016

In opening session we need to see whether index holds below 8490-8500 zone

Risky Strategy
On the bounce or gap up of Index between 8490-8500 zone -taking a small stops above 8500- one can take sell positions

Another strategy
Once Index moves below 8350- will have high chances to go close to lows of 8000- recent low- in that case B-leg is subdivided into a-b-c & we could be moving into last leg of c-wave & finish this whole down sequence likely in next week & start -upside journey for 2-3 months- which is little premature- will confirm once market moves.

We will come up with buying strategy once we see market reaction & prices staying above 8500

Trade active: 12:40 Hrs 10th Nov2016

Last Price@8588

I am taking this whole move as ABC -which is little premature to tell so keeping it back of my mind.

8635-8650 is an important zone, so let wait for Nifty to kiss that zone holding above 8570-8575 zone as mentioned.

Price is doing sideways after reaching day's high@8598 - going above 8598 - Shall thrust upside or going close to 8575-8570 zone & holding above that zone -one can look to participate in short term up move -Intraday wise till 8620-8635 zone. Let that finish. I shall come back again
Trade active: 13:06 Hrs 10th Nov2016

Last Price@8565

Prices have gone below the 8570-8575 but we will wait for more confirmation as going above 8598 -it will continue upside. So, Let us wait
Trade active: 13:13 Hrs 10th Nov2016

Last Price@8563

Just dipped close to 8550 if remains above that - I am still open for upside as expected above but sure if goes above 8600 - we will go up. Serching for my missing leg upside
Trade active: 13:26 Hrs 10th Nov2016

Last Price@8578

Dipped close to 8550 - should not go below 8560- or we go out of the market & wait at the sidelines

If goes above 8600- Then we are in the safe zone for the missing leg which I am searching

Looking this whole sequence to end as ABC - so be careful in the zone 8635-8650
Trade active: 13:35 Hrs 10th Nov2016

Last Price@8582

Hold with 8570 - Going Below that it will doubtful for Nifty to continue upside & add only above 8600
Trade active: 13:59 Hrs 10th Nov2016

Last Price@8579

Looks done on upside Nifty is holding on top@8600. Avoid taking longs unless goes above 8600-8610 zone, but still there is limited upside left.

8600-8610 zone is important going below 8550 - will confirm that its looking downside

Trade active: 15:07 Hrs 10th Nov2016

Last Price@8525

Bang On for the correct move from 8580.Likely Price Holds between 8505-8510 - suggests to partial profits or full & wait for the bounce to re-enter.
Trade active: 15:45 Hrs 10th Nov2016

Session Low@8510

Wow, what a fall!

Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Abhi Good Morning What to do on nifty sell on rise Buy and wait too many charts and Ideas confused ?
Reply
@ajayww2, Logically, you should wait for a dip not taking out 8350 top so once you get the dip- you can look to buy nifty with strict stops below 8350. Going below 8350 will indicate that bears are still active
Reply
Hi Abhi

I think around 100 points downside still left.

market will make bottom. Around 8-10th Nov.

Yes this is true that 8900+ will be seen this series only if 8350 holds.Risk rewards is in bull's favour.
Reply
This is what happens- surgical strike
Reply
vijay.risl AbhishekHSinghCMT
But sir from diwali onwards saying that we are in 12345 waves instead of ABC..

Even my bottom date falling between 8-10 Nov ..

Reply
When I came first time with leading diagonal downside- It was opposed. I even updated CNX100 -that we are going down -surgical strikes won't give time to react
Reply
vijay.risl AbhishekHSinghCMT
Yes.agree sir.
Reply
thanks ur analysis most attractive always
Reply
complex correction always this type
Reply
is this possible downtrend is comlex correction channel n now its nearly maturity near 8450 n then non stop for 8850
Reply
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