Nifty Futures
LTP: 14549.30
Support: 14502.30
Resistance: 14684.10
Daily charts (long term)
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The charts clearly don't look good;
20 DEMA and 50 DEMA are struggling
RSI has slipped and is trading below 50 mark
But on the other hand, I feel that this is a flag pattern which is a bullish sign
***No Trade! Too confusing.
Hourly charts (medium term)
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We do see a reversal before the EOD yesterday. This reversal does give us a little hope.
The trend is not decisive but RSI does hint a double bottom. This is a bullish pattern but there is nothing decisive yet.
There is not much data to study at this point so again, No Trade!
15m charts (short term)
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The chart is in a downtrend but it is not prominent.
It does seem that a double bottom is being formed here as well but there is nothing conclusive.
***No trade!
LTP: 14549.30
Support: 14502.30
Resistance: 14684.10
Daily charts (long term)
------------------------
The charts clearly don't look good;
20 DEMA and 50 DEMA are struggling
RSI has slipped and is trading below 50 mark
But on the other hand, I feel that this is a flag pattern which is a bullish sign
***No Trade! Too confusing.
Hourly charts (medium term)
---------------------------
We do see a reversal before the EOD yesterday. This reversal does give us a little hope.
The trend is not decisive but RSI does hint a double bottom. This is a bullish pattern but there is nothing decisive yet.
There is not much data to study at this point so again, No Trade!
15m charts (short term)
-----------------------
The chart is in a downtrend but it is not prominent.
It does seem that a double bottom is being formed here as well but there is nothing conclusive.
***No trade!