Nifty- Bullish Butterfly can it fly above 8470

NSE:NIFTY   Nifty 50 Index
Nifty time for reversal. Any move above 8470 - This butterfly will love to fly
Trade active: 12:54 Hrs 4th Nov2016

Last Price@8452

Nifty turned from 8469.80 as expected & Now I am looking for Nifty to hold the zone 8440-8445 then going above 8470- likely to start upside.
Trade active: 13:45 Hrs 4th Nov2016

Last Price@8430

Day's Low-8425

That's why I always suggest key levels-8470- if the market is respecting them as an individual you should also respect those levels -never get emotional in trading or run for the trade
Trade closed manually: 14:40 Hrs 4th Nov2016

Last Price@8414

Day's Low@8400

Saved never took the long as Nifty did not cross above 8470. So this pattern is no more valid. Hence closing it.

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

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