AbhishekHSinghCMT

Nifty- Can You Recognize The path-Part 2

Short
NSE:NIFTY   Nifty 50 Index
2
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.

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
​Growth Director - TradingView India

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