Dated :- 11.09. 2016                                 NIFTY SPOT : 8866.70

Nifty achieved the targets of 8903 but could not sustain above that.

As it was mentioned in my previous blog that I would watch Nifty's movement, that how Nifty behaves and acts at the level of 8903.

And did not wanted to participate in the upward movement of Nifty towards 8903 because my indicators were behaving abnormally as if it is a false  movement and thus I decided to watch Nifty's movement.

The decision proved to be the right one. Nifty could not sustain at higher levels. It fell from 8968 to close the week at 8866.

Making bearish patterns and giving breakdown on smaller charts.

Because if some one carry long position in such scenario's then he/she remains more worried in closing or squaring his/her long positions and thus most of the times they could not trade on reverse side i.e sell side at right time. Because they wait for the stop loss of the long position to hit first and then they start thinking for sell trade which makes them late.

Let me share a very small analysis with you.

Nifty in dollar terms has not moved up more as our Nifty index has moved.

Nifty in dollar terms has not even crossed the corresponding level of 8654 in our Nifty Index.

Nifty in dollar terms has taken the resistance of 66.67 percent retracement point. Which is at 3556 and it has closed at 3547.

Also making same bearish patterns.

Now What -

Simple go short.

The opportunity was at previous trading session when Nifty gave breakdown on charts. Any person not short in Nifty can still short sell Nifty with the initial stop loss of 8968 Nifty spot intraday basis. And trail it down to 8903 closing basis as and when Nifty breaks and stays below 8790.

Watch Nifty touching lower levels in coming days.

Enjoy trading.

Note :- All Levels are Nifty spot levels always.