AbhishekHSinghCMT
Short

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

NSE:NIFTY   Nifty 50 Index
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15
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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.


Trade active: 09:09 Hrs 11th Nov2016

Good Morning Guys

Gap Down to Start- Unfortunately Income Tax Raids yesterday has shocked markets.
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
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
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.
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.
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
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.

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
Trade active: 14:24 Hrs 11th Nov2016

Recent Low@8352

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

Last Price@8338

Prices are melting like hot cake -8300-8310 will be support zone now.
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.
Trade active: 14:45 Hrs 11th Nov2016

Last Price@8318

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

Last Price@8326

Possible to make a new below 8300 -8310 zone
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
Trade active: 14:56 Hrs 11th Nov2016

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

Last Price@

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

Day's Low@8288

Who is selling Nifty from Tops 8600?
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
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
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.
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
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.

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.
Comment: 14:24 Hrs 21st Nov2016

Typing Mistake- Day's Low@7928
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
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
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Can I buy a call for nifty 8500
Reply
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
Reply
Fibonacci_Club AbhishekHSinghCMT
@AbhishekHSinghCMT, thanks for updates
Reply
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.
Reply
Great great great!
Reply
@UmeshMishra, You are welcome
Reply
Hi Abhishek,
Any scope of reversal of Nifty from this level?
Reply
@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.
Reply
There is nothing like ending a week with the accuracy. Cheers!!
Reply
@nirav5, Enjoy the weekend
Reply
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