InsiderB

Nifty : It's time for Breakout Baby !

NSE:NIFTY   Nifty 50 Index
Asking Right Questions leads you to Right Answers ! So here I have 2 Questions :

(i) 8500's supported 6 times, Will it Break to make the Gap Theory Work ?
(ii) Elliot wave counts within Triangle shows Upside Breakout, will it work this time ?

Yes for Ques(i) opens the door for Bear party near to 8k's & if yes for Ques(ii) Opens Door for Bulls to reach 9k's. Now it all depends on which side the triangle will give breakout. Most of the times we get false breakouts from triangles and reverse other direction so proper stops n trademanagement is needed when trading breakouts.Moreover, We are on Daily Timeframe which means don't expect the Breakout in the next second itself. It may need a Week or two for the breakout & a strong news event trigger to move Nifty             in the breakout direction. Elliott wave counts within Descending tiangle on Bullish trend indicates upside breakout but let's see how it goes & what Nifty             decides !

We have few events like U.S elections, Fed & Global Markets reaction for Fed & U.S elections. These are the factors which are effective on Nifty             from Global perspective( we are not discussing about Indian Economy, as R3 said "We are One-Eyed King in land of Blinds" ). Bcos of the euphoria around these news events Market participants will get crazy & Breakout happens then real money comes in which will be direction decider making the Breakout valid or invalid.

Lets see how wild this Breakout can be !
Be the Bull & Be the Bear...

Insider B
Comment: If you are looking for chances to enter, Risky entry is here. Its potential triangle bcos triangle is yet to complete...

Excellent presentation of Nifty. Still playing within the triangle and a couple of days more for the breakouts either side I guess. Closed out the shorts on Nifty yesterday :-( But held on to Bank Nifty and pocketed a few good points today. But trailing stops took away a small bite on the bounce back. Never mind, happy with the net for day !!! Thank you so much for sharing your views.
+1 Reply
InsiderB ShanTrader
Hey Shan, we are on daily timeframe so the breakout will take time but if its breakout n straight to targets without any whipsaws then it will be superb. I'm glad that you pocketed some good points, wish you all the best for future trades also.
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Thanks,
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InsiderB AMBRISH
Anytime !
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BOJ, BOA, ECB all in doldrums FED may hold rates this time, but it is just a trick. more helicopter money required to push worldwide markets - HSBC. given this situation only @InsiderB will be able to tell us when will nifty go down and by how much!
+1 Reply
Ha ha... your last line only "InsiderB" can tell direction & points ? Bose boss, you are trying to put me in fix here. Nifty sometimes acts like girlfriend, when in good mood listens to whatever we say & at times act crazy which we will never understand :D
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"dont guess breakout direction"...thats a nice reminder to trade only screen. thanks.
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InsiderB rajesh2467
yea, guessing the breakout direction adds more complexity to trading ! So keeping simple is better.
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Super!! I think first it will breakout upside then the Gap theory will come to play. (Just a personal feeling) can be wrong :)
Planning to make money both the ways.
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InsiderB nirav5
Welcome to the club ! My intuition says the same bcos make a false breakout to the upside when U.S election results declared, then range for few days, Breakdown & Fed drives it more lower. But we are assuming here on News events. But its usual for triangles to give false breakouts in predicted direction (upside) then move down. We are the Bulls & We are the Bears n We may get it Right :)
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