Nifty- Bang On for 80 points- Double Top To Start The Fall

NSE:NIFTY   Nifty 50 Index
As expected in the zone 8580-8600- Likely we are putting a top- a double top- Amazing. The excitement which I run through- cannot be explained in words.

I am looking this sequence as ABC -but in premature stage- which requires further clues from the market.

Nov 10
Trade active: 09:09 Hrs 11th Nov2016

Good Morning Guys

Gap Down to Start- Unfortunately Income Tax Raids yesterday has shocked markets.
Nov 10
Trade active: 09:38 Hrs 11th Nov2016

Last Low@8392

No Shorts Please as we will wait for the bounce to sell. Only Risky Traders look to buy in this zone
Nov 10
Trade active: 09:52 Hrs 11th Nov2016

Key Level- 8394 (should not be broken downside)

Low@8392 is holding & Nifty Spot has a support zone between 8390-8395, so we Nifty can look for a bounce after this gap down opening

I am very clear if you can afford to lose 10-15 points then trade else avoid
Nov 11
Trade active: 11:36 Hrs 11th Nov2016

Last Price-8382

Nifty has taken pause -if holding shorts do not take bigger risk than 8420+ (1-2) points up as extended fall can have extended bounce back.
Nov 11
Trade active: 13:01 Hrs 11th Nov2016

Last Price@8360

Excited as I had good fall from 8390's - Day's low@8352. We are at prior swing high, which was 8351- The rally, which started from 8002 on account of Trump victory. We will see whether this act as support or not.
Nov 11
Trade active: 13:12 Hrs 11th Nov2016

Last Price@8385

Now at pullback we will see whether we will close our short positions or not
Nov 11
Trade active: 13:41 Hrs 11th Nov2016

Last Price@8391

Looks like 8350 acting as support as Nifty turned very close from that level. But Likely, I will see we get to exit in that zone of 8350-8360.

Nov 11
Trade active: 14:03 Hrs 11th Nov2016

Last Price@8362

Close to our desired Zone of 8350-8360 which is support likely let us book profits in Sell taken in the zone 8390-8385
Nov 11
Trade active: 14:24 Hrs 11th Nov2016

Recent Low@8352

Done & Out- Bang on Target- 8350-8360 zone
Nov 11
Trade active: 14:28 Hrs 11th Nov 2016

Last Price@8338

Prices are melting like hot cake -8300-8310 will be support zone now.
Nov 11
Comment: 14:30 Hrs 11th Nov2016

Last Price@8342

Likely Risk Takers only carry their selling trades & others if booked profits from 8390 to 8350- avoid taking any shorts for the day.
Nov 11
Trade active: 14:45 Hrs 11th Nov2016

Last Price@8318

Recent Low@8308
There is support in the zone 8300-8310
Nov 11
Trade active: 14:50 Hrs 11th Nov2016

Last Price@8326

Possible to make a new below 8300 -8310 zone
Nov 11
Trade active: 14:55 Hrs 11th Nov2016

Last Price@8326

Its possible to make a new but do not hurry if want to take a trade -let us if we get bounce close to 8350-8360 again
Nov 11
Trade active: 14:56 Hrs 11th Nov2016

"new low" missed above
Nov 11
Trade active: 14:58 Hrs 11th Nov2016

Last Price@

Bounce does not mean that you will buy - avoid any buying in current scenario
Nov 11
Trade active: 15:06 Hrs 11th Nov2016

Day's Low@8288

Who is selling Nifty from Tops 8600?
Nov 11
Trade active: 15:25 Hrs 11th Nov 2016

Day's Low@8285

Last Price@8300

Have a nice weekend - Nifty likely has strong support zone between 8280-8300 but next week MOnday-14th Nov2016 - is holiday & Truncated Week- So, Avoid taking any risk. Have a Nice Weekend
Nov 15
Trade active: 11:57 Hrs 15th Nov2016

Last Price@8145

It is so eye pleasing to see a fall like this which happens once in a while. Bears are in full control
Nov 20
Trade active: 10:38 Hrs 21st Nov2016

Last Price@7985

Now - You know it is impulsive because the earlier wave was 3 wave sequence bouncing from 8000 to 8600- look the fall- can it become aggressive- time will let us know.
Nov 20
Trade active: 11:15 Hrs 21st Nov2016

Last Price@7950

What will happen if USDJPY joins the party. Japanese Yen becoming stronger will add more pressure on Asian indices. Nikkei will come to Nifty's Party. Wow
Nov 21
Trade active: 13:03 Hrs 21st Nov2016

Last Price@7956

Going below 7940-7945 -Nifty may start further down move or holding 7940-7945 zone expect a bounce so that oversold indicators will be relieved for further down move.

UJ- USDJPY likely has put a double top at 111.18

If Japanese Yen becomes stronger against the dollar than Asian indices will be in pressure.

Nov 21
Trade active: 14:22 Hrs 21st Nov2016

Last Price@7960

Day's Low@7922

Liklet short term bounce could be expected in 8000-8025 zone for fall to resume later. Getting a dip to buy for the bounce with strict stops below 7928.
Nov 21
Comment: 14:24 Hrs 21st Nov2016

Typing Mistake- Day's Low@7928
Nov 21
Trade active: 14:57 Hrs 21st Nov2016

Last Price@7935

We got the dip, but looks risky to buy so I will suggest to buy only above 7955
Nov 21
Trade active: 15:00 Hrs 21st Nov2016

Last Price@7926

Taking 10 points stop in small buying attempt with strict stops below 7928 but likely got a big move down below 8000 to 7930-7940

Now I shall wait to see further market moves
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ


Can I buy a call for nifty 8500
AbhishekHSinghCMT Fibonacci_Club
@Fibonacci_Club, Do not be in a hurry - Markets not looking good at current levels of 8165 as well- likely I will wait for some more time to see market reaction
Fibonacci_Club AbhishekHSinghCMT
@AbhishekHSinghCMT, thanks for updates
AbhishekHSinghCMT Fibonacci_Club
@Fibonacci_Club, These gap ups are not in control of anyone- it could have been the opposite case as well creating more panic.
Great great great!
@UmeshMishra, You are welcome
Hi Abhishek,
Any scope of reversal of Nifty from this level?
@pal.dilip, Its possible now, but you markets is about to close & Monday-14th Nov2016 - is a holiday- truncated so, Likely avoid taking any positions unless you can take the risk of holding longs with stops below 8150-8175 zone.
There is nothing like ending a week with the accuracy. Cheers!!
@nirav5, Enjoy the weekend
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