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
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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.
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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.
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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.
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13:30 Hrs 2nd Nov2016
Magic of 8550
Trading@8533
Session High-8549- Vow- It's amazing - Nifty turns very close to 8550.
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13:46 Hrs 2nd Nov2016
Trading@8528
Small Mini Top@8550- So, it is an important level- price got rejected 2 times since morning.
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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.
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15:16 Hrs 2nd Nov2016
Session Low@8505-- Bang On Target
Run away with profits & enjoy. Take Care
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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.
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11:55 Hrs 3rd Nov2016
Trading@8525
If it holds above 8520 as well- that will be nice for the bulls.
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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
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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.
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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.
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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.
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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
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08:48 Hrs 4th Nov2016
Nifty 100- Why You Should be careful@9188
Look what happened to Nifty 100
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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.
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11:32 Hrs 4th Nov2016
Last Price@8436
1st Station is close by at 8425. We will take some snacks
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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
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12:39 Hrs 4th Nov2016
Last Price@8458
Nifty turned exactly from close to 8470 -High was 8469.80
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13:03 Hrs 4th Nov2016
Last Price@8449
Nifty kissed 8445- Amazing - Let us see, if it holds & gets the bull power.
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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
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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.
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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.
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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.
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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
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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.
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15:10 Hrs 7th Nov2016
Last Price@8498 Trading in Box- Dips - Amazing Last Red Candle
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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
Comments
Akashparkar
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hello sir..
can you give me afl code for intraday.. i m new
sanjay_ramanathan
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udaya.gujaran
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U have a golden touch..I hope you have traded all the above. I had back to back loss
WaveTalks
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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.
udaya.gujaran
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@AbhishekHSinghCMT ...Yaar ek trade loss hogaya toh dusra trade execute hi nahi hota hai yaar.
WaveTalks
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I can understand your situation- It is very tough to execute in such scenarios.
NikhilGhodke
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what levels are you looking for nifty to retrace back to? From 8425/8430 to .. ?
WaveTalks
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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.
nirav5
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Nice one Abhishek! I was just figuring out with my XABCD for potential pattern and you made it simple.
WaveTalks
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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.
can you give me afl code for intraday.. i m new