AbhishekHSinghCMT
Long

Nifty- Can This Dream Turn into Reality Part-2

NSE:NIFTY   Nifty 50 Index
2011 53 16
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.

snapshot
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.

snapshot
Trade active: 15:16 Hrs 2nd Nov2016

Session Low@8505-- Bang On Target

Run away with profits & enjoy. Take Care

snapshot
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.

snapshot
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

snapshot
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.

snapshot
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

snapshot
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

snapshot
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

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
hello sir..
can you give me afl code for intraday.. i m new
Reply
U have a golden touch..I hope you have traded all the above. I had back to back loss
Reply
Never become emotional in trading-otherwise you will always lose- key levels are very important to obey. I said 8670 was struggling point- Nifty did not cross. Today again I said 8470 -let it cross- It did not cross.
+3 Reply
udaya.gujaran AbhishekHSinghCMT
@AbhishekHSinghCMT ...Yaar ek trade loss hogaya toh dusra trade execute hi nahi hota hai yaar.
Reply
I can understand your situation- It is very tough to execute in such scenarios.
Reply
what levels are you looking for nifty to retrace back to? From 8425/8430 to .. ?
Reply
Its early stages of advance -first let it start. Above 8470 will become active & should not go below 8440 then likely can test 8550 & if crosses river gap above 8550 then it will reach Lanka. We will solve this puzzle piece by piece.
Reply
Nice one Abhishek! I was just figuring out with my XABCD for potential pattern and you made it simple.
Reply
My God -Its Extending Down -So deep, the bulls might have not slept last night- key levels are so important. I said yesterday unless 8550 is crossed -do not even think that nifty will bounce & see its trading at 8455.
Reply
English (IN)
English
English (UK)
Deutsch
Français
Español
Italiano
Polski
Türkçe
Русский
Português
Bahasa Indonesia
Bahasa Melayu
ภาษาไทย
Tiếng Việt
日本語
한국어
简体中文
繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out