AbhishekHSinghCMT
Long

Nifty- Dabba Trading - 8370 Down & 8461 Up to show the way next

NSE:NIFTY   Nifty 50 Index
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638 12
Today@18th Jan2017- We expected a pullback from 8450-8460 zones at day high & joined in the bull camp with stop loss below-8400. Unfortunately, it took the stops of 8400 made a marginal low@8397 & bounced back to close at 8417.

What Next?
We shall look for bottom zone 8370-8390 with strict stops under 8370 -one knows going below 8370 Nifty will leak from the Dabba. Or sustained move above 8425 with the day's low as strict stops for long positions.

Within all charts below -one can use the load bar feature(TradingView feature) to know how prices moved in the future from the published view date.

Previous Update- Hello 8370 let it break
Comment: 21:53 Hrs 18th Jan2017

My broker confirmed that spot 8400 was taken out, but future, it did not & So I am happy to come out at close to 8417- not losing much in Nifty trade which was a marginal Intraday loss of 7-9 points.
Trade active: 13:31 Hrs 19th Jan2017

Analysis is done on Spot/cash data

Last Price@8430

Day High@8440

With strict stops above 8440 -once the rising trendline gets broken or pullback close of day high -we shall look to sell for target zone 8380-8390

Trade active: 15:11 Hrs 19th Jan2017

Last price@8434

It is always important to trail your stops at cost when your trade starts moving in your favour so that you do not lose any points -if you don't take any profits -that is risk management which one should learn

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Abhishek Ji ,

Nifty Range trading last 3 to 4 days...8370 on bottom support ...Resistance zone on 8460 Nifty close above then as you said Upside rally conform
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@vijay73, Very True Vijay Sir!
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LAST 35-40 POINTS MOVE IN NIFTY?
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@dmdindia, Your comment of 35-40 points- I did not get- What did you mean by that?
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dmdindia AbhishekHSinghCMT
@AbhishekHSinghCMT, I REALLY IMPRESSED BY YOUR ANALYSIS. NIFTY MOVING IN ED AND LAST 5TH OF ED WILL COMPLETE ABOVE 8461. #THINK.
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dmdindia dmdindia
@dmdindia, ONE MORE TIME 8460 POSSIBLE?
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i like ur all analysis ......nice to see ur nifty n banknifty analyis
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AMBRISH VimalVashisth
Thanks,
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Why did you call this dabba trading? Just for fun?... because dabba trading doesn't affect the real market
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@VPS, I think he meant the box formation in chart☺
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