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

NSE:NIFTY   Nifty 50
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
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
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
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
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
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
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
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
thank you Abhishek :)
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
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