Nifty time for reversal. Any move above 8470 - This butterfly will love to fly
Trade active
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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
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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
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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.
Comments
nirav5
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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.