InsiderB

Nifty : Expecting Range before RBI Day...

NSE:NIFTY   Nifty 50 Index
Tomorrow being RBI day its usual for Nifty             to give only scalping trade chances. We slightly have a different view from yesterdays but still in-line with what we are expecting with Nifty             .On lower timeframe's scalping chances will arise whether its move till 10110 or on bearish reversal with formation of double-top. Be conservative on the formation of double-top bcos it can either give a wick to upside hitting out stops or if there is formation of new high double top is failure.

So, thats why this particular Double-top should be traded with care & RSI showing bit of divergence too ( not formed yet ) , check after the completion of double top whether you still have that divergence. But anyway, for next 2 days Nifty             will be range only ( just expecting ) bcos of RBI day & rate cut hopes. And if these rate cuts happen, it further fuels the bulls, New highs in Nifty             in coming days.

Do remember these are not single day move, its overall Market Direction...
Comment: Policy day, No trades. Will this Govt. force RBI Governor;s hands to cut rates ? Looks like that...
Comment: 9700's & More Surprise to Come.

Winter is Coming !
This govt is capable of doing anything... Its good to not to trade on event days.. but one can nibble at lower levels as some more steam left in this leg before which a small correction sets in...
Reply
InsiderB Parasuram
@Parasuram,Yes sir agree with you, but small correction can you be little approx how much you are expecting ?
Reply
Parasuram InsiderB
@InsiderB, I dont think Nifty will go down below 10000 on closing basis in the next 10 days... this leg can mature tomorrow and day after and after which a 150 point can come about from 10200 levels
Reply
Sir can we call this RSI Divergence on daily chart ?
Reply
InsiderB HappyVijay
@HappyVijay, I don't consider that as valid one...
Reply
HappyVijay InsiderB
@InsiderB, thanks sir
Reply
No my friend ... a new high and doubt Nifty can dip before RBI... May be a small correction after policy..... whether good or bad!!
Reply
InsiderB Parasuram
@Parasuram, cool, we will see to that :)
Reply
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out