What Chart Says:
Nifty formed a candle on the day chart and closing well above the Value Area Zone.
Behind the scenes:
Advance to decline ratio is around 35:15 in nifty 50
Not much had been into the market on previous session
European markets opened flattish but in green at the time of review
SGX nifty has rallied quit and currently poising 15414
Crude oil is currently trading around $64.9
US 10Yr bond is showing some signs of selling pressure
USD/ INR is showing signs of lowering which is a very good sign
What to expect:
With global markets shows good signs of bullishness expecting a possible gap up opening on friday. But do watch for the resistance and look for possible short positions on intraday basis
How to trade today:
1. GAP UP OPENING - First possible resistance is at 15273 and if it is taken out and if it acts as support then we can expect 15340 / 15431 & above levels to be tested.
2. GAP DOWN OPENING - First possible resistance is around 15100. Any of these levels acting as a strong resistance can go short with possible lower targets of 14923.
3. Flat OPENING - 15148 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.
The indicator will also guide you as a GPS system by plotting the possible target zones well in advance so that you can plan your trades accordingly.
You can also check out the Links in the signature for detailed & LIVE updates.
Happy Trading !