Nifty- Bullish Butterfly can it fly above 8470

NSE:NIFTY   Nifty 50 Index
279 1
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
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Hi Abhishek I think pattern is valid. D leg just touched 2.24 level. We need to check if it that's the end or it can check further Fib levels.
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