AbhishekHSinghCMT

Nifty- Bang on Target (Approx)- 8500

Long
NSE:NIFTY   Nifty 50 Index
Note -Do not forget to vote for MCX & NSE F&O Data

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
​Growth Director - TradingView India

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