India Nifty--Gulab Jamun Zone Back -8550-8570

NSE:NIFTY   Nifty 50 Index
336 18 8
As per previous update-- I am waiting for a pull back in the zone 8550-8570--which is my sweet spot (Gulab Jamun Zone)..Hope so we have that much appetite & can digest one more ..but have patience...I learnt this lesson of "having patience" in almost 7-8 Years....On a lower degree we have formed a bottom@8490...Here onwards...we shall look for a bounce in the zone 8550-8570...if you want to trade from top...

Trading Strategy 1- Let nifty             bounce to the zone 8550-8570 with strict stop loss@8597 --Look for 8430--8440 ...This is for Risky Traders who can afford to lose 30 odd point as stop...

Trading Strategy 2- If Nifty             Breaks 8490...Look for target 8430--8440 with strict stop loss@8566....

Abhishek             H. Singh, CMT
Trade active: 12:35 Hrs--IST--22nd July 2016-- Session High-8538-------Trading Strategy -2.....I am modifying it --to sell below 8470...as compared to selling below 8490...Regards...
Trade active: 13:50 Hrs--IST--22nd July 2016-- Session High--8543...Close to A-Wave Top..Current Rate--8528
Comment: 14:20 Hrs--IST--22nd July 2016--Current price--8541...Session Low--8507...Please do not trade...Its all risky & very volatile..Even Experienced guys get trapped...Let it fall first or come to top zone as per trading strategy -1...where one can take risk of 30 odd points then only trade. Regards, Abhishek
Trade active: 14:30 Hrs--IST--22nd July 2016--- I cannot update faster than market movement...but still I guessed it correctly A-Wave Top@8543...Then a fall in B-Wave--8504....Then we are heading for C-Wave ...Which will kiss our trading strategy-1 ...where are already planned for selling...as per morning update
Comment: Sorry for typo--"where we have already planned for selling"
Trade active: 15:15 Hrs--IST--22nd July 2016--- C-Wave is still incomplete....this could be a possibility of opening gap down...but we can't do much ...Yaa ..if we get a chance to sell in the range 8550--8570...strict stop loss --8595 + 2 Ticks...Have a nice weekend...Regards, Abhishek
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
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India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Dear Bro,as per your analysis r u expecting gap down..expected levels as per EW...thanks
If yes to what levels of gap down r u targeting...ur advice will be of gr8 help...
Very nice update..since wave C still incomplete..will it mean opening gap down on Monday...thanks
your updates are timely for sure....thank you
You are welcome
KunalDasLIONOpenNetwork AbhishekHSinghCMT

Dear Bro,as per your analysis r u expecting gap down..expected levels as per EW...thanks
AbhishekHSinghCMT KunalDasLIONOpenNetwork
Yaa ..we should 70-80 chances are their that gap down could be expected but markets are very weird...can't bet on gap downs & gap ups
KunalDasLIONOpenNetwork AbhishekHSinghCMT
That's true...Bro..also GST results expected Wednesday
AbhishekHSinghCMT KunalDasLIONOpenNetwork
If we go below 8500...we are going down...that is for sure
AbhishekHSinghCMT KunalDasLIONOpenNetwork
Also..The Way Nifty is doing up down up from 8480--90 levels ...its not good for bulls...this looks that Nifty wanted to buy some time...mean time Euro has also done with its correction...both are moving in sync...

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