AbhishekHSinghCMT
Long

Nifty- Bang on Target (Approx)- 8500

NSE:NIFTY   Nifty 50 Index
534 16 8
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As per the last update- as expected weakness in the nifty- got the move to yesterday's low@8507 which was close to our target zone 8480-8490 (some leeway should be given to markets).

What Next
Going above 8550 -Likely it travels back to the previous swing zone 8610-8615 - can be expected Intraday. If It gets resistance in that zone & nifty             is unable to cross, then likely bears will return back for selling in that zone for targets below 8500.

Previous Update- Nifty             Struggling between 8550-8600

Trade active: 10:59 Hrs 18th Oct2016

Trading@8582

Likely It is heading for 8610-8620 where resistance will be seen next.
Trade active: 12:50 Hrs 18th Oct2016

Trading@8598

Heading for Target Zone 8610-8620
Trade active: 13:20 Hrs 18th Oct2016

Trading@8618
As expected, it is giving an impression that it could be leading diagonal & they are retraced deep, so it could travel 8850-8900 zones-possible, but we need to get some retracement back which can give us confidence of going long & holding.
Trade active: 14:18 Hrs 18th Oct2016

Trading@8646

Session High@ 8650+

Exit All Long positions
Trade active: 14:49 Hrs 18th Oct2016

Trading@8658

Even though the market is dragging upside, above 8650 those who have booked longs should wait for retracement for going longs as likely Nifty should go into 8850-8900 zone also watch on today's gap as support for upside moves in days to come.
Trade active: 15:09 Hrs 18th Oct2016

Trading@8675
Leading Diagonals are always going to retrace that way - I just told even though I am long & took profits you should wait to get some correction for going longs again as most likely it will retrace in 8850-8900 zones.
Financial Markets never move in straight line.
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
You want to Exit all Long positions? As suggested?
Reply
sdgorasia PRO krish2052
got it, thks much
Reply
Not all long positions because market is given an indication for upside -if you can hold 3-5 days then likely you will see 8850-8900 unless it all goes below gap up opening of today & Short term traders who have booked profits now should look for retracement to enter into long positions again.
Reply
ok sir
Reply
Likely it can still push for new high above 8650 but the momentum is reducing so we should be at sidelines to see what market does next.
Reply
sdgorasia PRO AbhishekHSinghCMT
when u say momentum, u referring to momentum indicator?
Reply
yes- RSI, MACD etc
Reply
sir is it good time to book long since its bounce to 8585 as you had mentioned?
Reply
Going above 8580 -likely it will travel in the zone 8610-8620 so let us see & then we will decide.
Reply
sdgorasia PRO AbhishekHSinghCMT
thks much for follow up.
Reply
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