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

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