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

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