NIFTY & EU Connection-- Can EU Double Top Make Nifty Fall

We have come across another resistance & channel top for India Nifty@8550...Any movement below 8490--8480 zone shall trigger downside movement...EU(EURUSD) has already consumed 20-21 Days in consolidation post Brexit...Looks like it is in topping process in the zone 1.1120--1.1130 which shall be confirmed once 1.1015-1.1000 zone is broken & EU slips fast in downside direction....Nifty Bulls be careful...This is exam time...Market always ask tough questions...Intraday we could have added long positions above 8550 -If time permitted...Just 45 minutes left ..Market is about to close ...So, Trade Carefully & Take Care...

Regards,
Abhishek H.Singh, CMT

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09:50 Hrs--IST--18th July 2016---Nifty is at crucial juncture...as per previous update ...we should look to trade short only below 8480--8490 -which will trigger the downside move...In last session there was a sell off from channel top which fizzle out at 8510 low...just 20- points away from activating sell call...one could have kept a stoploss of that key level to jump in for moving along with markets--at same time if you compare Bank Nifty..It did awesome rally....Current Price --8580...One can take risky call here in the zone 8580--8590 with strict stoploss above 8611(Will lose -31 points)...Going below opening gap & sustaining below 8550--8560 zone shall be good for bears...Going Above 8611..it will be bulls who will be back in business. Regards

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12:20 Hrs--IST--18th July 2016--- Current Price--8576---Nifty has hardly progressed on upside & it is doing sideways since morning...Risky Traders should lower their stop to a tick above 15th July High@8595...Short Taken between 8580--8590..Shall lose 15 points on higher side...& safe traders should take short once Nifty goes below 8560--8550..or if there is downside thrust in the market. Regards, Abhishek

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16:00 Hrs..IST--18th July 2016....Finally ...Channel Worked...What a relief...for bears...Nifty was nailed right at the top zone@8580--8590....Amazing...Regards, Abhishek H.Singh, CMT