India Nifty@31st May 2016— 1st Weakness Clue on Top 8210
Updated
Hourly big red candle & eating small prior candles is the 1st clue on top@8210.. Index going below 8150 could dip to the zone 8130-8135 & if holds 8125 key level- we will get a pull back in the zone 8175—8185 where fall from 8210 to 8140--8135 zone shall be retraced by 61.8% or 80%.
One care has to be taken that pull back which comes definitely should not take out 8210 Top first & later going down after pull back below the current day’s low –will hint that Index want’s to move down –that shall be the signal for safe traders to go short & aggressive traders can risk 20-30 points stop slightly above 8211 for selling
In the pull back zone 8175—8185 ( but do check for bearish confirmation in the pull back zone).
Regards,
Abhishek H.Singh, CMT
One care has to be taken that pull back which comes definitely should not take out 8210 Top first & later going down after pull back below the current day’s low –will hint that Index want’s to move down –that shall be the signal for safe traders to go short & aggressive traders can risk 20-30 points stop slightly above 8211 for selling
In the pull back zone 8175—8185 ( but do check for bearish confirmation in the pull back zone).
Regards,
Abhishek H.Singh, CMT
Note
Incase Index goes & stays below 8125...check at your end for bearish confirmation as Nifty could become weak. Regards, Abhishek H.Singh, CMTNote
Anyone saw how Nifty bounced back from 8150 mark....this is the trap-which I warned that Index should first go below 8150...RegardsNote
Do not carry any positionsNote
1st June 2016--- Index is stuck in range....If 8125 is not broken....any dip close to that level can be taken as buy on dips for target 8190 and above 8210---Target will be 8250--8275...Short trades shall be taken only below 8125...Regards, AbhishekNote
11:15 am...1st June 2016---Index spending lot of time in the zone 8210--8220...Not Good Sign for bulls on lower time frame...Bulls should be cautious...or exit longs & try to enter in the zone 8130--8145 with strict stop loss 8124Note
1st June 2016-- 11:35 ( I took short exactly at the top 8210 as prices were forming wedge shaped pattern & as per previous comment --bulls should be out ). Regards, AbhishekNote
1:45 pm --1st June 2016---- Do not be in bearish side as I got hard hit---I took short exactly at the top 8210 & it went smoothly in my favour till 8173 day's low...& bounced back sharply....so let us not force ourself to be bearish just because it is at top...who said new high's can't be made...If you get a chance to take long trades in the zone 8175--8185 ...keep stop below day's low 8173 or Take long above 8216 day's high for target--8250--8260.. RegardsNote
2:25 pm --1st June 2016--- Entered in long trade exactly at 8185...low was 8184.50----Keep Tight Stop at day's low 8173. RegardsNote
2:45 pm-- Do not take any long positions home--current price 8182
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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