Nifty- Can This Dream Turn into Reality Part-2

I am not different than others & me to get trapped because of the emotional content which is the worst enemy of any trader, but I always avoid & most of the time- I very fortunate with key levels- which was evident yesterday as well when I wrote Nifty is struggling to cross 8670 before even it could turn around- Later in the day, It turned out to be one of the most exciting day for me as I changed my camp from bulls to bears (warned all readers as well at 14:31 Hrs -1st Nov2016)

Last time I suggested that the move from 8550 could travel in an impulsive manner & reach the zone of 8850-8900 but we all know financial markets never move in a straight line & knowing its path in advance is very tough but some key levels help to clear the path.

"Short Update as of 1st Nov2016- amazing to catch the top@8670- mentioned below"


Nifty-Bullish Harmonic + Polarity Resistance- A Short Update

2nd Nov2016 Update
Prices hurried downside in an impulsive manner could be 3rd Wave or C-Wave from top@8670- which I have taken as X-Wave at present as the primary count & shall change if required & take -alternate path- which I have kept at the back of my mind.

What could be expected next?
If Nifty goes beyond 8550 -W Wave that will be the second clue- prior to that I will be looking for an impulsive move on upside likely, but before that we will see some down move going into the zone 8500-8510.

Now this whole sequence turns out as W-X-Y as A wave & W-X-Y as B-Wave- Expecting C-Wave upside which could be the result of Global Event- U.S. Elections on 8th Nov2016-


Nifty-Can this dream turn into reality

Trade active:

12:25 Hrs 2nd Nov2016

Trading@8526

Session low@8515

Close to the downside -likely not much left in down direction, below 8515 can travel in the zone 8500-8510 -where we exit short positions & will wait outside to see how the market reacts.

Trade active:

12:37 Hrs 2nd Nov2016

Trading@8533

Our key level for this down move done is 8550- any move above that will give hint for upside incase Nifty turns abruptly without going into 8500-8510 target zone.

Trade active:

12:42 Hrs 2nd Nov2016

This push if goes up & above 8550 -we are not taking longs immediate as most likely- it will drop & we will see the market reaction in that case & if it remains below 8550 then for sure we will wait to see downside zone as target.

Trade active:

13:30 Hrs 2nd Nov2016

Magic of 8550

Trading@8533

Session High-8549- Vow- It's amazing - Nifty turns very close to 8550.

Trade active:

13:46 Hrs 2nd Nov2016

Trading@8528

Small Mini Top@8550- So, it is an important level- price got rejected 2 times since morning.

Trade active:

14:50 Hrs 2nd Nov2016

Trading@8531

Looks like a triangle so wait for the downside target- entering into the final session of the market. Book your profits in the zone 8500-8510. Take Care & Bye for the Day.

Trade active:

15:16 Hrs 2nd Nov2016

Session Low@8505-- Bang On Target

Run away with profits & enjoy. Take Care

Trade active:

11:13 Hrs 3rd Nov2016

Trading@8532

I shall be looking for key level 8550 to cross &sustain above that for a few minutes then most likely Nifty travels upside -If this scenario play's out then we will abandon the alternate scenario of more bearish case.

Trade active:

11:55 Hrs 3rd Nov2016

Trading@8525

If it holds above 8520 as well- that will be nice for the bulls.

Trade active:

12:25 Hrs 3rd Dec2016

Trading@8525

Avoid taking any short positions -which can be taken only if it pushes below 8500 or bulls will favor more

Trade active:

13:35 Hrs 3rd Nov2016

Trading@8505

One should note that channel is good support for market so taking sell positions is risky- if still one wants to take sell they can with 8550 as strict stops else avoid sell positions.

Trade active:

13:53 Hrs 3rd Nov2016

Trading@8510

Sometimes you should wait on the sidelines if markets are not clear, but likely having a bullish bias at the channel bottom 90% times pays off or we wait for 8550 -key level & avoid trading.
Bulls & Bears both are fighting with each other.

Trade active:

14:31 Hrs 3rd Nov2016

Trading@8522

The channel is strong- looks to hold. Hope it crosses 8550 then we are in a safe house & later we need to cross the river gap above 8550 which is next hurdle.

Trade active:

08:25 Hrs 4th Nov2016

Last Price@8485

Nifty need to cross the hurdle of 8535-8540 zone to give us a clue that a bottom is in place-unless that happens- downside is open

Trade active:

08:48 Hrs 4th Nov2016

Nifty 100- Why You Should be careful@9188

Look what happened to Nifty 100

Trade active:

10:22 Hrs 4th Nov2016

Last Price@8458

Bullish Butterfly is giving a zone of 8400-8425 so likely one can remain short to the zone 8410-8425 target zone- likely to book profits for your shorts in that zone & shall check further price action.

Comment:

11:32 Hrs 4th Nov2016

Last Price@8436

1st Station is close by at 8425. We will take some snacks

Trade active:

12:11 Hrs 4th Nov2016

Last Price@8455

Just Missed by margin our target of 8425. Well Butterfly is looking to fly if Nifty holds above 8440 & starts moving above 8470

Trade active:

12:39 Hrs 4th Nov2016

Last Price@8458

Nifty turned exactly from close to 8470 -High was 8469.80

Trade active:

13:03 Hrs 4th Nov2016

Last Price@8449

Nifty kissed 8445- Amazing - Let us see, if it holds & gets the bull power.

Trade active:

13:45 Hrs 4th Nov2016

Last Price@8430

Day's Low-8425

That's why I always suggest key levels-8470- if the market is respecting them as an individual you should also respect those levels -never get emotional in trading or run for the trade

Trade active:

15:20 Hrs 4th Nov2016

Last Price@8437

Nifty is again trying its best form a base for bull run, but likely we will wait for Mondays session to see- how prices react & then take some decision about bullish bias or we continue bearish bias.

Trade active:

15:25 Hrs 4th Nov2016

An exciting week for me with Gold Run from 1250$ to above 1300$ -Reliance - Jet & Auropharma Fall.

Take Care. Have a nice weekend.

Trade active:

10:17 Hrs 7th Nov2016

Last Price-8513
Look who is coming up - baby C-wave -will it become a giant C - wave- Time will let us know.

Trade active:

10:29 Hrs 7th Nov2016

Last Price-8521

Likely expecting 8550 which is a crucial level at present & most discussed level in above updates - Intraday that shall be mark where nifty is likely to touch with key support@8450

Trade active:

14:37 Hrs 7th Nov2016

Last Price@8515

Moving Sideways - waiting for tomorrow's event- if dips in the zone 8470-8480 can be a re-entry price for bulls but should not trade below 8450.

Trade active:

15:10 Hrs 7th Nov2016

Last Price@8498
Trading in Box- Dips - Amazing Last Red Candle

Trade active:

15:30 Hrs 7th Nov2016

Last Price@8492

Leaked below box - Now, once Nifty starts moving above 8530-8535 zone & sustains -bulls will come back