Long

Nifty- Bullish Harmonic- Important Reversal Zone 9700-9725

Updated

Nifty Turns from 9700-9725 - Look at past trading sessions -nifty halted in the zone 9700-9710. If Nifty holds this zone we can look Nifty to push intraday for 9790-9850- if extends upside then 9890-9920

When resistance turns its role into support which is the current case we call the zone as "polarity zone" & level as "polarity level" - useful for guys who are doing their CMT Exams.

But be careful of geo political tensions between America & North Korea.

Note

14:04 Hrs 11th Aug2017

Last Price@9702

Below 9700 Is risky to hold long positions. Bulls will be alive if it remains above 9700

Note

14:12 Hrs 11th Aug2017

Last Price@9700

Also remember - when harmonic pattern fails it will be sharp move on opposite direction so below 9700 -it has to move sharp downside for trader to take short positions or there could be trap downside for sellers- it can't drag slowly & slowly downside.

Trade active

17:38 Hrs 11th Aug2017

Last Price@9710

Only war like situation can make matters worse from here for Nifty immediately below 9680-9700 else if it sustains here then we should see some bounce next week.
In war situation- it will be a gap down.
We hope & pray that - There should be no war between U.S. & North Korea & matter is solved amicably.

Have a nice weekend.

Trade active

08:05 Hrs 14th Aug2017

Last Price@9710

Likely no bad news to start & we look for the upside as expected on 11th Aug2017 - staying above 9700-9710- the bounce.

Trade active

09:25 Hrs 14th Aug2017

Last Price@9760

Opens Gap Up! Awesome

Trade active

09:47 Hrs 14th Aug2017

Last Price@9779

Day High@9790 - Kisses our 1st Target

Looking for a pullback - if I get it in the zone 9750-9760 - I shall use it for taking long positions.

Trade active

10:11 Hrs 14th Aug2017

Last Price@9788

Holding 9775-9780 - Not going down can push nifty above 9800 levels & shall enter into our next target zone.

Trade active

10:40 Hrs 14th Aug2017

Last Price@9791

Turns exactly from 9775-9776 - Awesome!

Trade active

Last Price@9785

It is struggling to cross 9792-9793 so be careful as it is trying to give us some signal.

We should wait for clear breakout above 9792-9793 for an upside push else it goes in the gap zone 9718-9755 as of today & search for support.

Gap Zone should act as support to next set of moves.

Trade active

11:39 Hrs 14th Aug2017

Last Price@9787

By this time, one must have realised how important some levels or zones are - at present it is 9792-9793.
It is not able to cross above that zone.
If crosses above 9792-9793 - It will explode upside why?
because positions build up tightly so don't hurry - let market show you the way & be ready to press + if you see excitement for upside else wait for downside support zone of 9718-9755 - Enjoy the Trading - Feel the Trading!

Trade active

11:52 Hrs 14th Aug2017

Last Price@9796

Crosses above 9792-9793 - Time to trail your stop loss - where?

Some time back it was dancing in 9780-9785 zone- we will keep stoploss below 9775 (1 point below) & enjoy!

Trade active

13:50 Hrs 14th Aug2017

Last Price@9797

Cash / Spot Nifty

Best Buying Zone for the day was 9775-9780 & 9790-9793.

Trade active

14:50 Hrs 14th Aug2017

Last Price@9813

Day High@9817

Looking for short term pullback with bearish Cypher between 9810-9825 for Risky Traders & Safe Traders can join below 9790-9793 Zone.

Nifty - 100 Points Enjoyed - Sell with Bearish Cypher below 9790

Trade closed: target reached

14:51 Hrs 16th Aug2017

Last Price@9885

Target @9890 - Done & Out - 200 Points from 9680-9710 Zone.

WaveTalks

Best Regards,
Abhishek H. Singh
Growth Director - TradingView India

YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

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