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.
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09:09 Hrs 11th Nov2016
Good Morning Guys
Gap Down to Start- Unfortunately Income Tax Raids yesterday has shocked markets.
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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
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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
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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.
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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.
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13:12 Hrs 11th Nov2016
Last Price@8385
Now at pullback we will see whether we will close our short positions or not
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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.
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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
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14:24 Hrs 11th Nov2016
Recent Low@8352
Done & Out- Bang on Target- 8350-8360 zone
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14:28 Hrs 11th Nov 2016
Last Price@8338
Prices are melting like hot cake -8300-8310 will be support zone now.
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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.
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14:45 Hrs 11th Nov2016
Last Price@8318
Recent Low@8308 There is support in the zone 8300-8310
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14:50 Hrs 11th Nov2016
Last Price@8326
Possible to make a new below 8300 -8310 zone
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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
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14:56 Hrs 11th Nov2016
"new low" missed above
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14:58 Hrs 11th Nov2016
Last Price@
Bounce does not mean that you will buy - avoid any buying in current scenario
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15:06 Hrs 11th Nov2016
Day's Low@8288
Who is selling Nifty from Tops 8600?
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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
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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
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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.
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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
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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.
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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.
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14:24 Hrs 21st Nov2016
Typing Mistake- Day's Low@7928
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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
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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
Comments
Fibonacci_Club
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Can I buy a call for nifty 8500
WaveTalks
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@apborsadiya, 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
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@AbhishekHSinghCMT, thanks for updates
WaveTalks
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@apborsadiya, These gap ups are not in control of anyone- it could have been the opposite case as well creating more panic.
Hi Abhishek,
Any scope of reversal of Nifty from this level?
WaveTalks
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@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.
nirav5
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There is nothing like ending a week with the accuracy. Cheers!!