AbhishekHSinghCMT
Short

Nifty- Hitting Bulls Eye Again for 140 + points fall to 8078

NSE:NIFTY   Nifty 50
670 24 10
As previous update- "Nifty- Hold for RBI Policy"- suggested that there could be a sharp move from 8190-8200 so we should be careful

Amazing Fall to lows@8078 giving us in total 140+points - first buying @ 8150-8160 zones for 8190-8200 & expecting a sharp sell off from that zone to lows @8078


Click the chart & load the bars
Nifty- Hold for RBI Policy- Buy with 8100 Support
Trade active: 19:11 Hrs 7th Dec2016

Last Price@8102

Going below 8050- which is important level as last time nifty travelled upside from close by zone of 8055-8060- as per 'Chaap Daala" update- a surprise upside & a surprise downside- in all 200+ nifty points from Monday to Wednesday.

What Next?
If goes below 8050- it travels first into 7990-8000 zone & sustaining below 7990 can likely push further down to 7915-7930 zone & complete b-wave downside.

snapshot
Trade active: 09:06 Hrs 8th Dec2016

It's a range bound market on upside with 8200-8235 as strong resistance zone, so any bounce to that zone & if it goes below 8200 & sustains down could be a selling opportunity. Any fresh buying will happen if 8250 is taken out on top or going below 8050- it is likely Nifty travels first to 8000 & below 7990 -travels to 7950.
Trade active: 11:13 Hrs 8th Dec2016

Last Price@8214

We cannot take short or sell position in the current scenario as the market has trapped sellers with today's gap up move -which can even extend to 8300-8350 zone as well.

Fresh selling can only be taken once the rising trendline gets broken & it goes below 8050 so avoid catching any tops in the market.

A short term fluctuations cannot be denied like Nifty going into the zone 8230-8240 & falling to 8175-8180 zone, but likely looks upside because bear trapped in above 8050.

I have been telling this that 8050-8060 is very strong support in previous updates.

snapshot
Trade active: 14:08 Hrs 8th Dec2016

Last Price@8240

Day's High@8245

A good Intraday push as expected in the above update from 8215- enjoy some profits & wait outside of the market as it is important swing high next 8250.
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
@AbhishekHSinghCMT will nifty come down to 8180 and then up to 8210?
Reply
@abose, You know these short fluctuations are tough to tell -If I know all these -I will retire & buy a beach house in Australia -to live the rest of my life.
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abose AbhishekHSinghCMT
@AbhishekHSinghCMT, maybe is under process! who knows :)... anyway, now i think it will fall
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@abose, Cheers!!!
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Harish_Kumar AbhishekHSinghCMT
@AbhishekHSinghCMT, I sent you a private message did you get it
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@Harish_Kumar, I have answered your queries.
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murasolivm AbhishekHSinghCMT
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@AbhishekHSinghCMT nifty correct downside from 8190 levels
Reply
@Harish_Kumar, Unless market gives confirmation that it wants to move down which in first glance should be sustaining below 8200 for some time
Reply
Stuck with nifty put with heavy loss
Reply
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