Nifty - Bearish Butterfly & Double Top@10500

NSE:NIFTY   Nifty 50 Index
There is a bearish butterfly & double top@10500.

Trading Strategies

Strategy 1 - If Nifty Holds in 10400 -10425 then expect a bounce to 10460-10485 & we book profits & wait outside

Strategy 2 - If Nifty gets resistance between 10475-10500 after strategy 1 is done then look to sell on tops with minimum stops above 10500 - Target -10425 - 10390 - Below 10370 - 10135- 10000

Strategy 3 - Moving above bearish butterfly & double top ( crossing above 10500 ) - "D" level (Holding above D-level & crossing 10500) - Extreme Bullish Scenario - Take care once it crosses above 10500 -it should not dip below 10490 else be cautious.

Strategy 4 - Going below 10370 - Sell for target 10135 - 10000 or closer levels
Dec 22
Trade active: 11:33 Hrs 22nd Dec2017

Last Price@10468

Strategy 1 donnnnnnnnnnnnnnnne at 10485 - made day high@10492 - Oh "92" repeats in Nifty & where else ?

Dec 22
Trade active: 13:21 Hrs 22nd Dec2017

Last Price@10488

Closing the update. Thanks & Take Care.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
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Is this still valid?
Is this view still valid ? Is Nifty worth a short now ?
@sharuvman, Hello Sharuvman. I have mentioned strategy 3 above - You need to follow it & manage your risk accordingly.
sharuvman AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks for the clarification. Am sorry that I had missed out. Looking at Tata Motors to go short close to 425 levels. Thanks
@sharuvman, Welcome!
merry christmas to u
thanks u help us a lot
@niteshkumar, Welcome & Merry Christmas!
abhishek is this pattern still valid bec my calculation also matching with ur pattern
@niteshkumar, Yes. Finding hard to move above 10500 - makes this pattern valid & only if it sustains above 10500-10515 in next sessions then we close & come out of short trades.
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