India Nifty--I am B.B.--Diamond Pattern (Bulls -Take Care)

NSE:NIFTY   Index of the 50 listed India companies
369 21 11
Hello, I am Mr. Bear Boss(B.B.)

Rarest of Rare Patterns are -"Diamond Pattern"-when there is lot of euphoria in market..You won't even know -slowly & steadily it will keep attracting you...Diamond Patterns are expanding for first half & contracting in later half...but results are havoc...This is also true that we are not getting close below important swing lows like 8440--8470--8490 in current scenario..due to which we cannot confirm that downtrend has started....SO, One should really be on their toes & sniff every danger which could be knocking your door...Hello, I am Mr. Bear Boss(B.B.)-

Abhishek H.Singh, CMT
Trade active: 14:35 Hrs--IST--29th July 2016....Current price--8537---Key Levels for Today...Once Nifty Breaks 8620...Nifty will attempt to kiss 8580-8590...On Top we will trade only If Nifty goes beyond 8680--8690...Regards, Abhishek...
Comment: Sorry...Current Price--8637
Comment: 14:45 Hrs--IST--29th July 2016---Yes...Euro has also started to move in the last gasp...desperate to complete that deeper wave -ii....guys...tighten your seat belts....This Baby Euro is going take Nifty as well...Regards
Comment: 10:49 Hrs--IST--1st Aug 2016-- Nifty close above 8700- crucial mark on daily basis then only we start thinking for further upside...but be careful...momentum is reducing...we yet don't have confirmation for shorts but yes going 8620..Intraday & closing below 8570 on daily basis will be crucial signal for bears in action...till then be careful keep taking profits at regular internals ---& do not take shorts ...it is tempting but you will get stuck..unless key levels gets broken...Regards, Abhishek
Trade active: 11:40 Hrs--IST--1st Aug 2016-- I am searching for a distribution pattern...unless we see some kind of explosive upside movement above 8700...do not participate in bull rally further, infact take profits & come out & be alert...Downside also, we need either a thrust to start giving us hint that important top is in place, taking out 8570 & on intraday basis 8620--8630 ---we can take short trades.. 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
hi abhishek ..nice work..
so you project for the bearish view currently>?
AbhishekHSinghCMT PRO yuvrajsingh7722
Yes ...I project bearish view but never suggested to go short...only traders should remain cautious...let market show us the way...once swing low @8570 gets broken ...possibly we might start looking for short trades..Regards
yuvrajsingh7722 PRO AbhishekHSinghCMT
Abhi waht's ur target for nifty today
8710--8725 but you know what whatever profits you get take it because momentum is reducing ..any further upside we will calculate only if Nifty closes above 8700 on daily basis. Regards
samir687 AbhishekHSinghCMT
Many thanks for update.

further, if nifty closes above 8700, any target for next move.
8620 broken .... can we short nifty now
Hi Mithun Ji, Nifty is playing around 8620 mark....today also if 8620 gets broken...then putting day's high stop -one can take short but be careful to book at 8590...or 8590 also gets broken then book in the range 8540--8545...Thanks & Regards, Abhishek
AbhishekHSinghCMT PRO AbhishekHSinghCMT
Long Poistions can be initiated above 8710 but you not Nifty is running out of steam..so you should be careful on longs...Regards, Abhishek
thank you Abhishek :)
14:45 Hrs--IST--2nd August 2016-- We should not Trade today as well...its again flipping back & forth around 8620 ...Current Price 8628....it is just consuming time....Avoid Trading on Intraday Basis...Regards, Abhishek
09:35 Hrs--IST--3rd August 2016--- Nifty below 8590 key level is broken ...One can take short positions or wait for pull back in the zone 8620--8635 to take short ..also note 8570 is also important level --going below that level we can look target zone of 8540--8545 as mentioned yesterday. Regards, Abhishek
10:00 Hrs--IST--3rd Aug 2016...Current Price--8577----8570 -8565 is a temporary halt...bounce could be expected in the zone 8590--8600...If goes starts falling back below 8590...putting a stop loss above 8650 & Above --We will look for 8540--8545...Regards
10:15 Hrs--IST--3rd Aug 2016...Boom...Nifty Bounces from 8577 to 8605...Now going below 8590...One can again take short with stop loss above 8650 + 2 ticks...for target 8540--8545...Regards, Abhishek
11:45 Hrs--IST--3rd Aug 2016---Bang On...Nifty Kisses our target zone 8545 top range as given in previous comment...Current Price--8560...Regards
12:45 Hrs--IST--3rd Aug 2016-- Nifty Could bounce back again in the zone 8600--8615....Current Price--8575...Look to sell in that range or going below current low@8545 for targets 8480--8490 which will be next hurdle in the downfall...Regards, Abhishek
22:30 Hrs--IST--10th Aug 2016--- So, Nifty is still struggling at top@8700....This diamond pattern happens very rare....if we take out 8490...The we will conclude that medium term top is in place...till then let us not catch the top. Regards, Abhishek
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