AbhishekHSinghCMT
Short

Nifty- Deep Crab Bearish Harmonic @9978 Target -9950-9910-9860

NSE:NIFTY   Nifty 50
Last Price@9957

Suggested - out at 9965 in previous update.

Bank Nifty             is not supporting so we have negative bias for BN as well & Bn was the prime reason why Nifty             struggled today to touch 10,000 Mark.
In previous update our bearish post turned bullish as it opened above 9925 mark & dipped to 9910 was buying opportunity- missed -no worries. I even suggested on chart, moving above 9925 -1st bullish confirmation & above 9950 -2nd bullish confirmation.

9950 was important level as markets holded that level for 3-4 Hrs             & pushed upside beyond 9970. I expected for 10000 mark but Nifty             is unable to push beyond 9978 mark

So, putting this update- bearish harmonic at 9978 highs.

Target - we shall look for 9950- 9910- 9860

Pattern invalidates above 9978 highs.

Previous Update
Nifty - Bearish Butterfly at 9925- Intraday for 9890-9870-9860
Trade active: 15:14 Hrs 1st Sep2017

Last Price@9978

Deep Crab BC leg can extend to 361.8% which gives range of 9980 -9990. if Nifty goes beyond 10000 then this pattern fails so we should look for weakness.
Trade active: 04:41 Hrs 2nd Sep2017

Last Price@9974

There is a slight change here as we will wait for 9950 to be broken first as market respected that level for substantial duration on Friday 1st Sep2017.

Confirmation level- 9950 ( wait for the break)
Trade active: 05:25 Hrs 2nd Sep2017

Last Price@2nd Sep2017

This trade only for high risk taking guys. If you have the capacity to lose 20 points I am not talking big just above 10000 Mark as it is psychological mark as everyone is eyeing that level.
So, if you see some weakness in 9985-9995 Zone in next trading session - it could be possible we get the 1st target of 9950
once it breaks 9950 then we look for 9910 & below 9910 9860-9870. Have patience & plan your trade , manage your risk & execute.
Happy weekend.
Comment: 09:12 Hrs 4th Sep2017

Good Morning
Trade active: 09:18 Hrs 4th Sep2017

Last Price@9950

Close to Target 1- 9950 - We start the day awesome - with current session low@9953.
Trade active: 11:45 Hrs 4th Sep2017

Last Price@9909

Target 2 - 9910 ---------- Done - That is Awesome!
Trade closed: target reached: 11:56 Hrs 4th Sep2017

Last Price@9899-

Day Starts at 9984

Crack almost 100 points for the Day at low@9884

snapshot
Trade closed: target reached: 12:30 Hrs 4th Sep2017

Last Price@9876

Another Good Day - Nifty Touched All at 9861

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
this was an awesome IDEA. though did not trade this because of my bullish bias. todays low dot 9861. harmonics just amaze me most of the times.
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Before that possible gap filling
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@Parasuram, There is a gap between 9800-9850 so likely it can hold I will take next leg down only below 9780 else bounce beyond 10000 for new highs.
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Sorry....9783
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@Parasuram, First 9850 is major Hurdle.
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AbhishekHSinghCMT TOP rajesh.kottapalli
@rajesh.kottapalli, It was hot trade for the day.
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Cheers! break of 3 rd target would ensure break of the previous leg and larger correction in store
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tu chij badi he must must
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