AbhishekHSinghCMT
Short

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

NSE:NIFTY   NIFTY 50
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
http://in.tradingview.com
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
bro for valid cypher you have to have 1.27 extension
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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.
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AbhishekHSinghCMT PRO AbhishekHSinghCMT
By the way...whatever pattern it is...unless it is triggered ...all patterns fail...so let us wait for trigger point..
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Yes ...Going below 8540 ...There will be some weakness...We are not going take any buy calls unless it goes above 8600 & sustains..Regards
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If tomorrow break levels then short is advisable?
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Mainly because of gst nifty is just not givig up !!!
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I am using it as it is falling in line with Elliott wave sequence...
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mayanksb10 AbhishekHSinghCMT
sir where did you learn tat any book or coerces i am interested
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mayanksb10 AbhishekHSinghCMT
ok tnx
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first time isee harminic trading pattern on nifty can use it on stock
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