Nifty- Looking upside with key support zone 8680-8684

NSE:NIFTY   Nifty 50 Index
I am still waiting for that one leg upside atleast in the zone 8780-8800 to see what could be the next course of action. Till the time 8680-8684-key support zone is intact- I am on the bullish side of the market.
USDJPY (UJ) keeps my hope alive that Nifty could see the required bounce.

UJ connection to Nifty- Opened & Moving as expected

Expecting 104.60 from the support zone 103.50-103.60
Trade active: 11:45 Hrs 25th Oct2016

Line of symmetry studied in school days -have a risk of 3-5 points more from 8699 A- wave high

Looking for target 8650-8652

Trade active: 11:52 Hrs 25th Oct2016

This is an extremely risky trade -I don't expect anyone to trade other than guys who can afford the risk involved in this trade.
Trade active: Look at the trendline - Today Nifty bounced exactly from the trendline which was drawn earlier. lows@8664 was bang on the trendline.

These are key observations.

Trade active: 12:02 Hrs 25th Oct2016

We trail the stop loss to 8699 which is current session high & entered the short trade@8693- shall lose 6 points or gain 40 points.
Trade active: 12:08 Hrs 25th Oct2016

Reducing my risk to 8695 just 2 -3 points - we will exit & wait at sidelines if trades above 8695.
Trade active: 13:06 Hrs 25th Oct2016


So many of them are putting stop losses above 8700 that sharks always looking to reduce them- that is the reason it spikes but not holding above 8700 is worry for bulls in current scenario.
Trade active: 13:40 Hrs 25th Oct2016


A sharp fall from 8690-8700 zones was expected -just went upside to eat the stop losses as mentioned above

Fall from 8737 to 8664 looks like A -wave done & the pull back from 8664 to 8700 was B-wave & current leg likely to be C-wave which can get support close to 8650-8655 & below that 8635-8640 -These are possible zones where Nifty likely to hold & then let us see what shapes up.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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thks much for ur instant updates for the trades
Welcome. Just trading myself & putting down here my live diary -Its very hard to do but always try my best.
sdgorasia AbhishekHSinghCMT
really appreciate. i try to learn from it how to manage trade
Risk Management is a very important lesson one if executes properly, then no looking back.
sdgorasia AbhishekHSinghCMT
agreed n learning.........
MukeshRajpurohit AbhishekHSinghCMT
Sir tomorrow will be expiry in nifty. Will it go down or up from this leve. Plz suggest.
AbhishekHSinghCMT MukeshRajpurohit
Now nifty buy calls can be taken only if it goes above 8700- let us whether we get 8700+ or not.
ok sir.....
Went through support but lower trendline held and bounced back...
Nice man -one can make money either side. If you know how to play the markets.