Nifty - Bearish Butterfly at 9925- Intraday for 9890-9870-9860

NSE:NIFTY   Nifty 50 Index
9925 is an important resistance & we have a bearish butterfly exactly at 9925. Stops above 9925 - we can look for intraday target of 9890-9870-9860
Very Important Support for the market is 9850. Market is showing bullish signs but too early to put down anything & shall be confirmed once it starts moving above 9925 & 9950 then likely we have good chances of a new high above 10138 highs.
Aug 31
Comment: 07:45 Hrs 1st Sep2017

If Nifty opens above 9925 - This Intraday Setup invalidates & we close the update.
Aug 31
Comment: 09:57 Hrs 1st Sep2017

Last Price@9952

Wow- all green extremely bullish.
Aug 31
Trade active: 10:01 Hrs 1st Sep2017

Last Price@9955

Market Opened gap up above 9925 - Bearish Setup invalidates. Falls to 9910 & Bounces crossing 9925 - 1st bullish confirmation & 9950- 2nd confirmation done.

Now every pullback if we get holding 9850 should be used as buying opportunity.
Aug 31
Trade active: 10:18 Hrs 1st Sep2017

Last Price@9953

Book Profits at 9963 - Historical Resistance-We look to next attempt to buy at 9910-9912 -at the pinbar candle which was opening candle -every one started buying.

Sep 01
Trade active: 11:05 Hrs 1st Sep2017

Last Price@9858

It is doing sideways between 9950- 9963 & 9950 is important level - Price has to dip below 9950 for any further down move.

Next down move only below 9950 level.
Sep 01
Trade active: 11:21 Hrs 1st Sep2017

Last Price@9955

Magical Level 9950 - Nifty Turns again upside from 9950 - how important that level is. Nifty has lot of respect for 9950 mark.
Sep 01
Trade active: 11:42 Hrs 1st Sep2017

Last Price@9954

Holding 9950 on downside as support - we look for upside move in Nifty which can be close to 10000-10005 Zone next. Likely 40-50 odd points upside.

Even though if it dips below 9950 you should be careful as it could be slight dip & bounces above 9950 that means - bulls are in the market with a force.
Sep 01
Trade active: 12:15 Hrs 1st Sep2017

Last Price@9957

We are eager to see some bullish excitement for 10000+ & enjoy the upside move if happens next above 9963 short term resistance level.
Sep 01
Trade active: 12:21 Hrs 1st Sep2017

Last Price@9960

Having said that we look upside for 10000 + mark - make sure that your back end is covered means

any move below 9950 can be scary for bulls as later it can dip to 9910 - 9850-9870 Zone downside.

As markets can never move in one direction only.
Sep 01
Trade active: 12:45 Hrs 1st Sep2017

Last Price@9959

It is extending it's sideways move. Do not lose patience in trading as market will test the same.
Sooner or later bullish move should start above 9963-9965 as that is immediate resistance.
Also do not put your stops exactly at 9950 else big fishes will eat your stops & then market will bounce back making new highs for the day.
Sep 01
Trade active: 13:30 Hrs 1st Sep2017

Last Price@9870

Here we go........
Sep 01
Comment: 13:31 Hrs 1st Sep2017

Typing Mistake- It is 9970 instead of 9870.....
Sep 01
Trade active: 14:11 Hrs 1st Sep2017

Last Price@9965

9978 is holding hard - Not able to cross - getting rejected - Book & out
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
What if it doesn't go to 9910 for sometime
@Basty, If it doesn't then we don't get buying opportunity as market has already confirmed above 9925 & 9950 that we shall start a new leg upside so if you get any fall has to be taken as buying opportunity that care of 2 important levels on downside - 9850 & 9785
whats about banknifty
@vmkalola, There is less demand so I don't update.
vmkalola AbhishekHSinghCMT
multiplierX AbhishekHSinghCMT
@AbhishekHSinghCMT, Sir, please keep updating on Banknifty as well since this a leading indicator for Nifty direction.
@multiplierX, Doing Job along with analysis is tough. I will try my best & just update a new post on nifty.
@vaibhav14476, Welcome
difficult to move up given the GDP poor data that came today.
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