AbhishekHSinghCMT
Short

India Nifty@31st May 2016— 1st Weakness Clue on Top 8210

NSE:NIFTY   Nifty 50
255 4 7
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

Comment: Incase Index goes & stays below 8125...check at your end for bearish confirmation as Nifty could become weak. Regards, Abhishek H.Singh, CMT
Comment: Anyone saw how Nifty bounced back from 8150 mark....this is the trap-which I warned that Index should first go below 8150...Regards
Comment: Do not carry any positions
Comment: 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, Abhishek
Comment: 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 8124
Comment: 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, Abhishek
Comment: 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.. Regards
Comment: 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. Regards
Comment: 2:45 pm-- Do not take any long positions home--current price 8182
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
2:45 pm--Do not take any long positions home..current price-- 8182
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1:30 pm -1st June 2016--Guys let us not force ourself for bearish market.....nifty went smoothly down to 8173 from 8210....& bounced back sharply --which is not in favour of bears...this is telling that market wants to go up....look we got small down movement.only..so bears exit at cost....& turn your position to longs if crosses 8215...for morning target 8250--8260. Regards
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Good analysis.. Accurate!!
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thanks
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