Let's understand the daily charts of Nifty Futures. We study daily charts to understand the long term nature of the stock.
Candles have taken support at 100 DEMA. The value of 100 DEMA is 14191.
MACD has the blue line below the orange one which is a bearish sign and to add on, it is trading below the zero zone with is bearish as well.
RSI has resisted 50 mark as well. Bearish indicator again.
Overall, nifty futures look quite weak at this point.
Now, lets take a look at hourly chart of nifty futures. The hourly charts help us understand the medium term view.
Clearly weak as the DEMA are falling. They are aligned in a complete bear pattern at this point of time.
MACD again is in the bear zone with a bearish formation.
RSI is below 50 mark but divergence indicator does have a bull signal. We will keep this in mind but we will not act on it immediately.
Overall, even the hourly charts show weakness.
15m charts help us understand the short term or intraday views.
There is a bull candle called the Marubozu White but there is no strong confirmation candle following. Again, we will keep this in mind but won't act on it as any pattern is incomplete without a follow up.
MACD is in the bear zone but the red volume bars are fading so we will wait and watch till we get a confirmed trend indication. We will consider this as neutral at this level.
RSI is clearly showing weakness as it is trading below the 50 mark and very close to 30 levels.
We will wait for the markets to open and stabilize before we enter trades.
Traders can go long when the levels feel perfect as RSI, if slipped below 20 will mean that nifty futures are overbought. We can take a risk as today is the expiry and the short positions needs to be covered so we can see a pull back.
Candles have taken support at 100 DEMA. The value of 100 DEMA is 14191.
MACD has the blue line below the orange one which is a bearish sign and to add on, it is trading below the zero zone with is bearish as well.
RSI has resisted 50 mark as well. Bearish indicator again.
Overall, nifty futures look quite weak at this point.
Now, lets take a look at hourly chart of nifty futures. The hourly charts help us understand the medium term view.
Clearly weak as the DEMA are falling. They are aligned in a complete bear pattern at this point of time.
MACD again is in the bear zone with a bearish formation.
RSI is below 50 mark but divergence indicator does have a bull signal. We will keep this in mind but we will not act on it immediately.
Overall, even the hourly charts show weakness.
15m charts help us understand the short term or intraday views.
There is a bull candle called the Marubozu White but there is no strong confirmation candle following. Again, we will keep this in mind but won't act on it as any pattern is incomplete without a follow up.
MACD is in the bear zone but the red volume bars are fading so we will wait and watch till we get a confirmed trend indication. We will consider this as neutral at this level.
RSI is clearly showing weakness as it is trading below the 50 mark and very close to 30 levels.
We will wait for the markets to open and stabilize before we enter trades.
Traders can go long when the levels feel perfect as RSI, if slipped below 20 will mean that nifty futures are overbought. We can take a risk as today is the expiry and the short positions needs to be covered so we can see a pull back.