What Chart Says:
Nifty formed kind of candle with a huge selling and finally settled at a good support.
Behind the scenes:
Advance to decline ratio is around 0:50 in nifty 50
FII has pulled out around 8295 crores and DII has bought 1499 crores
Us market has closed on positive note of 0.56 on previous week closing session
Singapore market is up by 0.39 at the time of review
What to expect:
If the previous session which is a good support on Nifty is taken out we can possibly see the lower levels to be tested. If its hold the support we can see a good pull back in coming days.
How to trade today:
1. GAP UP OPENING - First possible resistance is at 14707 and if it is taken out and if it acts as support then we can expect 14920 / 15095 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 14467. Any of these levels acting as a strong resistance can go short with possible lower targets of 14281/13995.
3. Flat OPENING - 14467 is the key level to watch out on flat open any at this level we can take positions in the direction of the trend and sit for targets as marked.
For better Accurate trades use tradershedge indicator:
?? Each levels Act can as possible support and resistance????.
You can trade then on 5 min and 15 min as per your trade set up or you can follow the dynamic entry & exit levels update and triggers from our TradersHedge indicator setup.
The indicator will auto plot the possible reversal zones for intraday & swing trades by analyzing the higher time frames and identifies the zones.
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You can also check out the Links in the signature for detailed & LIVE updates.
Happy Trading !