AbhishekHSinghCMT
Short

Nifty- Can You Recognize The path-Part 2

NSE:NIFTY   Nifty 50
317 7 1
As expected this is a connecting series of NIfty             since the top 8968 highs. From bottoms 8500 -expected a bounce in corrective fashion -out of the 2 legs are done -likely I am looking for one more push to give me confidence about this setup & most important- it should not cross 8968 highs in the pop up.

Today, as well- Nifty             could be weak & possible that it goes to test the gap zone 8530-8555- Nifty             Staying below 8595 should stay down for Intraday session. Avoid taking longs as if now.

Nifty- Can you recognize the path?
Trade active: 10:10 Hrs 27th Oct2016

Trading@8564

Almost 30 points down from 8595 desired level - Expected to kiss the gap zone 8530-8555 that could be the final dip.

Likely we are close to start an up move, but I never guess & always wait for the market to show me forward direction or give me green signal.
Trade active: 10:15 Hrs 27th Oct2016

Trading@8575

Let us book 70-75% if taken shorts & hold only small quantity.
Trade active: 10:45 Hrs 27th Oct2016

Trading@8570

Likely Nifty dips in the gap zone of 8530-8555 as the target zone- we should book maximum profits in that zone & shall check next
Trade active: 13:01 Hrs 27th Oct2016

Trading@8575

Session Low@8550

Amazing - It kisses the gap zone 8530-8555
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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SohilShah SohilShah
could be 5 ways down?
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Could be A-B-C ....I don't know only market knows at the moment what it has stored for us
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reddi_p4u AbhishekHSinghCMT
if 8550 spot breaks next 8350 i guess
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No idea- that big move - I will have to check- let us gulp our meal in small pieces. Taking too much at time will make you puke- at times people forget this & repent later when they start feeling uneasy.
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reddi_p4u AbhishekHSinghCMT
k sir chk once
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Sure.
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