Nifty- Bullish Harmonic- Important Reversal Zone 9700-9725

NSE:NIFTY   Nifty 50 Index
Nifty Turns from 9700-9725 - Look at past trading sessions -nifty halted in the zone 9700-9710. If Nifty holds this zone we can look Nifty to push intraday for 9790-9850- if extends upside then 9890-9920

When resistance turns its role into support which is the current case we call the zone as "polarity zone" & level as "polarity level" - useful for guys who are doing their CMT Exams.

But be careful of geo political tensions between America & North Korea.
Aug 11
Comment: 14:04 Hrs 11th Aug2017

Last Price@9702

Below 9700 Is risky to hold long positions. Bulls will be alive if it remains above 9700
Aug 11
Comment: 14:12 Hrs 11th Aug2017

Last Price@9700

Also remember - when harmonic pattern fails it will be sharp move on opposite direction so below 9700 -it has to move sharp downside for trader to take short positions or there could be trap downside for sellers- it can't drag slowly & slowly downside.
Aug 11
Trade active: 17:38 Hrs 11th Aug2017

Last Price@9710

Only war like situation can make matters worse from here for Nifty immediately below 9680-9700 else if it sustains here then we should see some bounce next week.
In war situation- it will be a gap down.
We hope & pray that - There should be no war between U.S. & North Korea & matter is solved amicably.

Have a nice weekend.
Aug 13
Trade active: 08:05 Hrs 14th Aug2017

Last Price@9710

Likely no bad news to start & we look for the upside as expected on 11th Aug2017 - staying above 9700-9710- the bounce.
Aug 13
Trade active: 09:25 Hrs 14th Aug2017

Last Price@9760

Opens Gap Up! Awesome
Aug 13
Trade active: 09:47 Hrs 14th Aug2017

Last Price@9779

Day High@9790 - Kisses our 1st Target

Looking for a pullback - if I get it in the zone 9750-9760 - I shall use it for taking long positions.
Aug 13
Trade active: 10:11 Hrs 14th Aug2017

Last Price@9788

Holding 9775-9780 - Not going down can push nifty above 9800 levels & shall enter into our next target zone.
Aug 14
Trade active: 10:40 Hrs 14th Aug2017

Last Price@9791

Turns exactly from 9775-9776 - Awesome!
Aug 14
Trade active: Last Price@9785

It is struggling to cross 9792-9793 so be careful as it is trying to give us some signal.

We should wait for clear breakout above 9792-9793 for an upside push else it goes in the gap zone 9718-9755 as of today & search for support.

Gap Zone should act as support to next set of moves.
Aug 14
Trade active: 11:39 Hrs 14th Aug2017

Last Price@9787

By this time, one must have realised how important some levels or zones are - at present it is 9792-9793.
It is not able to cross above that zone.
If crosses above 9792-9793 - It will explode upside why?
because positions build up tightly so don't hurry - let market show you the way & be ready to press + if you see excitement for upside else wait for downside support zone of 9718-9755 - Enjoy the Trading - Feel the Trading!
Aug 14
Trade active: 11:52 Hrs 14th Aug2017

Last Price@9796

Crosses above 9792-9793 - Time to trail your stop loss - where?

Some time back it was dancing in 9780-9785 zone- we will keep stoploss below 9775 (1 point below) & enjoy!
Aug 14
Trade active: 13:50 Hrs 14th Aug2017

Last Price@9797

Cash / Spot Nifty

Best Buying Zone for the day was 9775-9780 & 9790-9793.
Aug 14
Trade active: 14:50 Hrs 14th Aug2017

Last Price@9813

Day High@9817

Looking for short term pullback with bearish Cypher between 9810-9825 for Risky Traders & Safe Traders can join below 9790-9793 Zone.
Aug 16
Trade closed: target reached: 14:51 Hrs 16th Aug2017

Last Price@9885

Target @9890 - Done & Out - 200 Points from 9680-9710 Zone.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
yes it was the bottom of the previous leg up...

OO ji oo , Nifty wholesale bhav mai hai ,
Aur retail ka bhav bhi ayega , tau aap decide karo kya karna hai .......
@neneram, After long time with wholesale bhav - hmmm!
Where have u mentioned ur target levels?
@Parasuram, 2nd line of the main update above target mentioned- "Turns from 9700-9725 - Look at past trading sessions -nifty halted in the zone 9700-9710. If Nifty 0.68% holds this zone we can look Nifty 0.68% to push intraday for 9790-9850- if extends upside then 9890-9920 "
Parasuram AbhishekHSinghCMT
@AbhishekHSinghCMT, K! sorry ! missed it...
@Parasuram, Welcome!
justmehta11 AbhishekHSinghCMT
@AbhishekHSinghCMT, sir, this is awesome! bang on till now :) fingers crossed.
Here is the explanation why nifty was gearing up for downward reversal ? But before that we have to understand one of the important component of ichimoku cloud indicator i.e Chikou span. A component of the Ichimoku Kinko Hyo indicator that is created by plotting recent price movement 26-periods behind the latest closing price. The trend is deemed to be upward when the Chikou span is located above the closing prices and downward when the indicator is located below them. Many traders watch for the Chikou span to cross below the closing prices as a signal that the price of the asset is getting exhausted and is likely to experience a pullback.

Date 8th Aug 2017 Time 9:15 am , Closing price of hourly candle 10029.69. Closing price of chikou span at same time 9706.41.
10:15 am,Closing price of hourly candle 9984.30 .Closing price of chikou span at same time 9716.2375
11th Aug 3:15 pm, Closing price of hourly candle 9716.24 .Closing price of chikou span as the same time 9716.2375. Nifty made a low of 9685.55, closed for the day at 9710.

@amitahuja, Hello Amit. Trying publishing separate analysis as suggested earlier that will be good for community.
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