nifty futures
educational purpose only
I made some good money on the bounce back today but the market is still a bears market. picture is quite clear on the hourly charts of nifty future.
important levels
strong support: 15700
strong resistance: 16350
I don't think that 15900 will be broken anytime soon. the charts need a lot of strength to break strong levels. there should be a bounce, just like when we hammer, the charts will go up before coming down hitting the supports hard.
the market for me remains sell on rise. we can sell nifty futures near 16350 / 16400 and keep a stop loss above 16775.
I made some good money on the bounce back today but the market is still a bears market. picture is quite clear on the hourly charts of nifty future.
important levels
strong support: 15700
strong resistance: 16350
I don't think that 15900 will be broken anytime soon. the charts need a lot of strength to break strong levels. there should be a bounce, just like when we hammer, the charts will go up before coming down hitting the supports hard.
the market for me remains sell on rise. we can sell nifty futures near 16350 / 16400 and keep a stop loss above 16775.
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