Currently stuck in a box. Let's see where it breaks! 11380±(20) the ultimate resistance. Disclaimer:- your capital at risk. Consult with your financial advisor before do any action or do your own analysis research.
My analysis for going short today on 14 Jul 2020 at close. View invalid if Nifty closes above 10900. My initial target is 10300. Target may increase depending on who fast and strongly 10300 gets broken.
NIFTY INDEX TREND SETUP -NIFTY WITNESS ONE OF THE WILDEST SWING THIS WEEK -THE CRUCIAL PART THAT I AM EXPLAINING EVERONE IS THAT 9950 WAS NOT BREACH ON A WEEKLY CHART AS WELL ON DAILY -THE SHORT COVERING RALLY IN THE INDEX PROVED TO BE VERY VITAL -THIS INDICATES THE STRENGTH IN BUY ON DIPS MARKET -20 AND 50 EMA WERE TESTED GAPS WERE CLOSED AND THE PRICES...
READ THE CHART -PLEASE DONOT FOLLOW THE CHANNEL THE TRENDLINE IS JUST DRAWN FOR PREMATURELY TO FOR TESTING PURPOSE -NIFTY MIGHT OPEN NEAR 10300-350 -MIGHT RUN INTO HURDLES
PLEASE SEE THE CHARTS FOR STUDIES
Just a Thought: Not for Trading Purpose NSE:NIFTY Speculation based on Past trends, It may not be true because every time scenario was different but looking at current trends and the proportionate fall and retracement in nifty across Dot-Com Bubble Brust, 2008 - 09 Recession. If nifty follows this trend, this scenario cannot be neglected. Please check...
Nifty is facing a major resistance near its major supply zone @ 9850-10000. I am calling this zone as a major supply zone because on the higher time frame (weekly and monthly) this same zone will act as a major resistance (Shared Weekly and Monthly charts in the previous post). On the downside the is a minor demand zone @ 9500-9580 then 9300-9420 and short...
Nifty closed in the supply zone of 9490-9580. On the downside demand zone @ 9230-9250. Today as I have mentioned in the telgram group that I am not expecting nifty closing below 9490. The reason is: 9490-9580 is a supply zone on a daily chart and 9490-9735 is a supply zone on a weekly chart. So 9490 is a very crucial level in a higher time frame. I am...
Finally Nifty closed in the major supply zone @ 9365-950. On the downside short term major demand zone @ 8850-9100. If Nifty will sustain 9350 which is a lower level of its supply zone then it may test 9500 which is a higher level of the supply zone. Supply Zone is very wide so it is difficult to get a valid technical stop loss so I made a short position...
This month candle is facing resistance @ its major supply zone @ 9275-9460. On the downside, there is a wide range of demand zones @ 7750-8460. Below 7750-8460 there is a major demand zone @ 6550-6850. I am not expecting this month's Nifty closing above 9460.
Nifty is making a Cup & Handle in lower time frame, a breakout level coincides with the Bearish AB=CD between 9600-9650 which I had already suggested as a possible level in my previous tweets, view would go wrong below 9100. At the same time NIFTY IT in hourly is on the verge of an IHS breakout which suggest 13500 as a probable level. Both suggested levels could...
Last week's short term intraday strong demand zone was @ 8650-8850. Now it is shifted to 8850-9100. On the upper side 9360-9500 is a supply zone and 9675-9820 is a major supply zone on a short term time frame. According to the option OI data max call writes are @ 9500 and max ut writers @ 9000. According to the data and supply and demand zone 8850-9100...
On the daily chart minor supply zone @ 9320-9480 and strong supply zone @ 9680-9900, On the downside short term strong demand zone @ 8650-8850.
Nifty is trading in the wide sideways zone of 8650-9500. I will go with OTM option writing.
On the downside there is a short term major demand zone @ 8650-8850 and the upper side resistance @ 9100 and supply zone @ 9350-9500. According to the options data max OI in call @ 9500 and max OI chg % in call @ 9300 and max OI in put @ 8000 and max chg % in put @ 8900. According to the options data max OI in call @ 9500 and max OI chg % in call @ 9300...
2008-09 followed wave theory and took longer time to correct. So one need to have patience for current correction, which is in progress and should not trade in PANIC!
-- 8400-8500 was a supply zone for Nifty and today it was managed to close above this zone. Next supply zone @ 8950-9050 and major supply zone @ 9300-9500. On the downside minor support @ 8650 and 8400-8500. -- Demand Zones: 8650 / 8400-8500 -- Supply Zones: 8950-9050 / 9300-9500
Nifty closed below it’s demand zone @ 81120-8165. Once it sustains below this zone on Tuesday then it may test its next demand zone @ 7750-7050. Carried short position in option because it will get the benefit of 3 days time decay.