Nifty- Hillary or Trump- What's in the Box?

AbhishekHSinghCMT Updated   
NSE:NIFTY   Nifty 50 Index
The bears got trapped through FBI at 8400- which was surprising for bears & they got squeezed in today's session as well with most of them putting stops above 8550- Market travelled marginally above 8550 & made day's high@8559- finally to close at 8543.

We are standing close to very important global event outcome- U.S. Elections which everyone might have set their eyes- Hoping for Hillary or Clinton- So what's in the box- time can let us know better, but as an analyst- let me put what I see next

If Hillary comes out of the Box
Likely -Index will witness another gap up move which could make it travel 161.8% of the initial move from the 8400 to 8535 which comes in the zone 8690-8715 zone.

If Trump comes out of the Box
The index could leak below the double bottom 8480 levels & travel below 8400 marks as well in coming session.

Trading Strategy
Protecting double bottoms in the zone 8470-8480 zone is important for having bullish bias & Hillary as an outcome of the major event

Whereas Leakage of double bottom zone- shall be the result of Trump outcome.

Let us wait for the outcome.
Trade active:
7:53 Hrs 9th Nov2016

SGX Nifty Down -270 points. Markets are going to be tricky. Going Above 8550- They forced bears out & today if the market opens gap down- bulls are trapped.
Trade active:
8:07 Hrs 9th Nov2016

Dow Futures 400 points down. Trump Leading in the current outcome scenario.
Trade active:
14:33 Hrs 9th Nov2016

Last Price@8468

Bounce from 8000 -todays low can be C-Wave so likely can touch 8850-8900 zones as expected earlier- we need some pullback to go long for few sessions atleast till 8850-8900 zones- Then we shall decide later.
Trade active:
14:37 Hrs 9th Nov2016

Last Price@8466

Do not hurry in the trade - we want some pullback from current highs of 8475 to enter.
14:48 Hrs 9th Nov2016

Last Price@8421

Prices are falling so fast -seems like a joke
Trade active:
14:58 Hrs 9th Nov2016

Last Price@8410

Recent fall from top@8475 to 8396 is very impulsive & not looking as pullback so that suggest expecting any longs in current scenario shall be risky. If it starts moving below 8350 -then we get some confirmation bears are still active.
Trade closed manually:
15:26 Hrs 9th Nov2016

Last Price@8460

Closing & Need a break as price structure is very confusing. Let me come back later

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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