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

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!