Nifty 2016 Diary- Careful in Jan-Feb 2017 -Limited Upside

NSE:NIFTY   Nifty 50 Index
Limited upside means somewhere in the 8275 +/- 100-200 point range. Double Bottom Zone 7915-7893 once leaked- bulls should be careful.
A clear strategy shall be to wait & watch for the trigger levels like 8275 taken out on top shall open for approx 150-200 points range leading to 8375-8450 or if 7893 is broken downside shall be clue for big downside which Indian Markets are poised for in next 5-6 months.
Leading Diagonals in Wave-(1) can take Wave-(3) deep down in coming months with no move above 8600 in the near term which will invalidate the counts.

This is how we moved in 2016

Larger Picture -Painful C-Wave in 4th Wave Downside

A Bigger C-Wave in 2017

Bang on to catch top@8600 on the neck

Bounce to relieve oversold indicators

Chaap Daala-Local Traders Language

Hitting Bulls Eye for 140+ points

Use the Bounce 8000-8025 to sell

Happy to catch the top@8020

Sell the bounce 8000-8025-Part2-- Before Sell "Buy Please Above7940"

Crossing Across Bullet Train at 8100-Amazing
Trade active: 18:40 Hrs 2nd Jan2017

Last Price@8179

Did Nifty took Bank Nifty Healing- When BN came close to the level of 17828 as mentioned in its respective post-"BN 2016 Diary"& Nifty as well had an intraday upside push from 8130-8140 zones to slightly above 8200+
Trade active: 12:58 Hrs 3rd Jan2016

Against 8155 stops in current position - We are bullish in Nifty till 8235-8240 having said that - one should not enter in buy call here - as the train has already left from 8155-8160 station.

Bank Nifty was good bounce 2 times close from 17828- magic wand.
Trade active: 07:55 Hrs 4th Jan2016

Last Price@8192

The zone of 8130-8150 is a very important zone -in today's session if it drops in between & holds for some time-later pushing above 8160 can be looked as upside with strict stops below 8130.
Incase, 8130 is broken- let me come back again.

Trade active: 11:23 Hrs 5th Jan2016

Last Price@8260

Heading Close to next hurdle 8275 -we want nifty to cross 8275 + with some extra points -let us take 4-5 points more -if it does so then it travels cleanly to 8380-8400 zone.

Last Night's USDINR Capsule has started showing its power to Nifty & Bank Nifty

Last Night Report - Waiting for USDINR to break the channel

Channel Broken by Dollar Rupee (USDINR)

Trade active: 12:30 Hrs 5th Jan2016

Last Price@8261

Latest High@8266

Bank Nifty has to support Nifty move - Now its facing resistance of 8275 so likely be careful as Nifty moves next above 8275 only if sustains for 10-15 mins
Trade active: 22:47 Hrs 3rd Feb2017

Last Price@8740

Gone so deep & now looks scary for bears!
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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

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Your last comment out of blue after a month of last update doesn't make sense to me. I think the newbies like me doesn't understand much metaphor, unless you want to post only for experienced traders.

I would appreciate your view in much more simpler words, please.
Hello Sir,
What is the next target for nifty now.
AbhishekHSinghCMT rahulmarathe80
@rahulmarathe80, Hi, above 8300- can look for 8350 next
rahulmarathe80 AbhishekHSinghCMT
@AbhishekHSinghCMT, Thank you Sir
Dear Abhishek,

Phenomenal is the word i have for you. Never seen anyone with such precision. At the same time i have one request. Could you please do the same as nifty for bank nifty. Iam sure the larger crowd would appreciate the same from you. I can understand how difficult it is to make precise projections.Please consider my request.


Rameish rinuvaasan
@ramesrin42, Hi Rameish, Bank Nifty post is also running in parallel to Nifty post.
Nice one Abhishek!
@nirav5, Hope you are on long side these days & making money
nirav5 AbhishekHSinghCMT
@AbhishekHSinghCMT, Yes I am on long side for Nifty and BankNifty.
Abhishek ji, For the past 10ys i am into market, i have done basic technical analysis, understanding of charts i know. But i want to understand elliot wave, can u please help me in guiding how can i learn elliot wave completely.

Thanks & Regards