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

NSE:NIFTY   Nifty 50 Index
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
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

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

Last Price@9876

Another Good Day - Nifty Touched All at 9861

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle


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.
Before that possible gap filling
@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.
@Parasuram, First 9850 is major Hurdle.
@krajesh, It was hot trade for the day.
Cheers! break of 3 rd target would ensure break of the previous leg and larger correction in store
@Parasuram, Yes
tu chij badi he must must
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out