Nifty--Bearish Cypher & Gulab Jamun Zone 8560-8580

NSE:NIFTY   Nifty 50 Index
239 11 6
Hi, If you have a sweet tooth...this could be exciting for you...Gulab Jamuns(Indian Sweet-Check Wikipedia for Images) are really mouth watering & how one can miss that-I really wonder sometimes...The only problem is-we should not eat too much which is valid in all business...I compare Bearish Cypher to a gulab jamun trade--whose D-leg is almost done in the range 8550--8565...Any move below 8540-we shall put the stop of recent high & take the risk of having this gulab jamun-who knows your day turns out to be exciting & sweet...Well A Move above 8586--is crucial as X-wave high of cypher pattern will be broken & pattern becomes invalid...

Current Price--8560

Trigger Point-- Let Nifty             go below 8540 first --Put a stop of recent high or if you can take a stop of 8586 +2 ticks.

Regards, Abhishek             H.Singh, CMT
Trade active: 13:25 Hrs--IST--20th July 2016-- Trade was not triggered ...It had to move below 8540...So, Trade is still not active...Regards, Abhishek
Comment: 15:00 Hrs--IST--20th July 2016-- Boring Day for Market --It is trading in tight range..8540 was not broken for the day...Take Care...Regards, Abhishek
Trade active: 10:00 Hrs-IST--21st July 2016---Good Morning to all....X-wave high@8587 is intact...Nifty opened gap up & respected that level...well from trading point of view --we are moving our trigger level to 8530 & below--Once Nifty goes below 8530..Put a stop of day's high & shall look for 8470...8440(Where Nifty Could halt)....Regards, Abhishek
Comment: 10:35 Hrs-IST-21st July 2016--Call is yet not opened unless trigger point gets clicked which has been modified to 8530-This Morning...Regards, Abhishek
Trade active: 14:25 Hrs--IST--21st July 2016--Nifty Cracks from the Top ...8586-8587 -which is intact...Risky Traders are really enjoying....Current Price--8528....There is a support coming 8510-8515...If holds book & wait to re-enter back again some where between 8555-8565...with same stop loss (2 ticks above 8587)...or Going below 8500- surely one should go short....Regards, Abhishek
Trade closed manually: Closed
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
bro for valid cypher you have to have 1.27 extension
Bro...You are right...but In last 2-3 years of cypher patterns on almost 500-600 various instruments on average ...it takes 1.13 to 1.41 extension of XA leg...Regards..Here it is 1.18 extension so I have taken it. Regards.
AbhishekHSinghCMT AbhishekHSinghCMT
By the way...whatever pattern it is...unless it is triggered ...all patterns fail...so let us wait for trigger point..
Yes ...Going below 8540 ...There will be some weakness...We are not going take any buy calls unless it goes above 8600 & sustains..Regards
If tomorrow break levels then short is advisable?
Mainly because of gst nifty is just not givig up !!!
I am using it as it is falling in line with Elliott wave sequence...
mayanksb10 AbhishekHSinghCMT
sir where did you learn tat any book or coerces i am interested
mayanksb10 AbhishekHSinghCMT
ok tnx
first time isee harminic trading pattern on nifty can use it on stock
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