manotrade28
Long

Nifty Complets Bullish Shrk and [Bul Anti Cypher-Yet to complet]

NSE:NIFTY   Nifty 50 Index
Nifty Completes a Bullish shark @level 10730 for its D leg.
And forming another Bullish Anti Cypher , To complete, it has to reach 10670 Level. But the support for Nifty is available @10650 level.
So for Intraday what should be the Strategy?
There are two possibilities.
1. Nifty Opens with a gap up.
Then in this scenario we can assume that the Bullish Shark becomes activated, But according to our rule we will enter in the retracement.
Since the pattern is formed on a Daily time frame we can expect a downwards retracement of 10700-696-770.
If higher high and higher low is seen in 5 min time frame we will enter to have a target of 10840.
2. Nifty Opens with gap down.
Then we have to wait and watch till it goes down and comes up with higher high and higher low in 5 min time frame.
The above #1 scenario we have to look into, as Nifty has a bearish depth to reach 10650, we will wait and watch for a bullish entry.

So my view on Nifty will be bullish Reversal from the Green color box.
Before it goes up to 11000 mark it has to consolidate in the range 10650-10880 for some days.
So trade safe. with tight stop loss. I will update the entries and exit during market hours.
Please like, comment and share, it will encourage to post new new ideas.
Cheers!!!
Comment: In point 1 consider 770 as 670
>>Since the pattern is formed on a Daily time frame we can expect a downwards retracement of
>>10700-696-670.
Comment: We will wait and watch.
Comment: Let it give close above 10740 and we will see
Comment: This is a reversal trend, so more opportunity will come once trend is set.
Comment: if it sustains 10740 a sharp up move can be seen in Nifty.
Comment: should enter with a strict stop loss if you want to enter again stop loss 10700
Comment: Bears are still active, not letting the market go up, stay cautious .
Comment: 10780-800 is a critical level, so act accordingly.
Comment: Guys Done for the day ,Have some work, Everyday target 5k, you will find the difference, And close the Computer. Mine done 7k. Why to take risk, Market is not going anywhere. Stay cautious.
Trade closed: target reached: WoW it gave a very big movement, Was out for some time. Ok our target achieved. Cheers!!
Awesome analysis, perfect !!! Keep it up bro. Do you have any whatsapp or telegram channel ?
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@ramtdview, No as of now here only I update, we ll create a group very soon on telegram.
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FM announced enonomic stimulus ,,Monday it will be tough to get in any trade
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annamess2011 Kaushik_85
@Kaushik_85, means it is positive news or negative news? Market may go down again?
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Kaushik_85 annamess2011
@annamess2011, sir,,it's a jumble of news,,China impose tarrif,Korea fires bombs,,trump threatened to have another tarrif,,,,I will away from market in Monday
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@manotrade28 bhai,
You consider only chart for analysis or anything else?
As after a big fall yesterday you predicted a reversal where all others were telling10500-600 .
U are awesome Sir, today also 12k + . Thanks to you.
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manotrade28 annamess2011
@annamess2011, What ever i consider is in front of you, and formation of candle stick matters as it shows the sentiment as a whole. harmonics(Gives overall view)+candlesticks(Current situational view)+trend(Out come of 1st two)+discipline(Fixed Risk and Reward)+Patience(Supremo) = PROFIT
+1 Reply
annamess2011 manotrade28
@manotrade28, well said sir
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pls try to post NIFTY prediction on daily basis bro n it will be helpful for us
thanks
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@Mohan7002, Sure
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