johntradingwick

SGX Nifty - Rebounding from 50MA cluster

SGX:IN1!   SGX NIFTY 50 INDEX FUTURES
SGX Nifty seems to be rebounding from the 50 moving average cluster on the daily time frame. As you may already know that 50MA/ EMA plays an important role on the daily time frame. Another factor is that RSI is also curving upwards from 45 level, which is particularly a good sign.

With SPX (US index) recovering over 2.5% since yesterday, and SGX getting support from the 50 MA cluster, the likelihood of Nifty recovering is pretty good at the moment. But SPX must close somewhere near today's high to trigger the recovery of Nifty .

Disclaimer: This is NOT investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.
Comment: Update 22 July:

Comments

Holding Nifty futures 100@15670.. should I exit around 15750 or hold. If you can guide. Thanks
+2 Reply
@Sush1980, Just keep holding. Most likely we are going to see a bounce.
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Sush1980 johntradingwick
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Also joined your telegraph channel. Great content
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@Sush1980, Thank you.
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Thanks after so many years found a gem of person. Great work sir.
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@Sush1980, Thank you for the appreciation, means a lot to me.
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Thank you so much sir for your valuable ideas. - Prasad from Hyderabad
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@prasad2837, I am glad you like my work. Thank you.
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@johntradingwick do you have any telegram channel where you share your ideas?would love to learn from you. please do let me know.
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