NIFTY Intraday Trade Setup For 16 Aug 2022
NIFTY has closed mild positive on last Friday. Closing is near day high. Above Friday's high- 17725 we will head higher towards 17800 and 17870. We have enjoyed a very good rally from 15950 till 17700+. We may consolidate at higher levels...
Nifty Levels for Tomorrow..
Trend : Sideways / Rangebound
Sentiment : Positive
Expectation : Range market between 17750 - 17663
Weekly Trend - Rangebound - May Trade between 18000 - 17500
Nifty might open with Small gap up around 17750-17800 R1 / Sell reversal level. Any breakout above BULL BO 17768 - we can go long for the Targets 1 and 2 probably it will...
as per my analysis in nifty we will see a correction upto 16800 and from there it will take support of 200 M.A. and move upward till 18600
as we can see the RSI is on 80 (i.e. overbought zone)
and also there is no good news (any) related to the Indian markets
i dont think there is any breakout situation here(as per my analysis)
but FII can make nifty breakout as...
Wishing all my friends, followers , well wishers etc. , AZADI ka Amrit Mahotsav (75th Independent Year of India ) .
Nifty - Monthly Chart
Don't try to Interpret the chart or its breakout as i used it only for graphical purpose for Independence Day Event :)
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> The global market marks a neutral start.
> Market nature is bullish . If the market opens a gap up, the market will continue to the rally. The important point here is that the market should not break the previous day's low ( Nifty ) (Bank - 38813).
> On the other hand, an advancing wave is a supply wave, so watch carefully, if the market experiences a sharp...
Today's will be flat opening in Nifty . Nifty is open above 17650 level and 17650-17000 level is consolidation range. In case nifty trade above 17700 level then long can go up to 17850 level. Any down side expected below 17650 level.
The global market is marking a negative start. My opinion is, that it will be a minor correction. Once the minor correction will over, then we will expect the rally continuation. (17200 & 17000) & (37500 & 37000) is a strong OI support.
we should combine this indicator with ADX indicator.
example of Sell
VWAP: Price trading below VWAP
Price is trading below Super trend (21,1)
Price is trading below Super trend (14,2)
Price is trading below Super trend (10,3)
ADX -DMI should be above 25