Hii this is trader Kanishk
This is the analysis of NIFTY
I have shorted nifty, do you ? and waiting for a new gap down open on tomorrow morning.
Here the phase is very volatile and we don't have to took long position in nifty .
this is a bear market phase and this is not the recovery this is the bullish trap .
so please avoid yourself to put the long positional...
NSE:NIFTY
nifty levels for 16/6/2020
note 9600 is strong support and 10000 is strong resistence
the levels which i have marked on the chart can be reversal also use your price action knowledge and trade safe
nifty in the still not bullish nor bearish just note the range and trade safely
just follow the market don't be bullish or bearish ...let market go on its direction we will trade on its direction an take profit
just follow the price action
coming to the point ; the range for nifty in this week could be ;
the upper price limit :10200
the middle upper...
NSE:NIFTY
NOTE THE POINTS WHITE LINES ARE INTERMIDIATE AND SL LINES GREEN ARE BUY AND TGT LINES
RED ARE SELL SIDE AND TGT LINES
BOOK PROFIT AS SOON AS POSSIBLE DONT BE GREEDY AND LET YOUR PROFIT GO
THIS ANALYSIS IS FOR EDUCATIONAL PURPOSE ONLY
TRADE @ YOUR OWN RISK
NSE:NIFTY
These are the Important levels for the Nifty BUY & SELL
* The Pink Lines are for Buying Points
* The Black Lines are for Selling Points
Through This we can Find the Momentum of direction to trade in Nifty Options
This Levels are only for Education Purpose....
I have used a simple price action theory on the 15 minute time frame of Nifty 50.
As we can see that from 18th May, 2020 Nifty 50 started making higher tops and higher bottoms where up swings are marked with green arrows and retracements with red arrows.
Then on 8th June, 2020 Nifty made a high of 10327. But on the next day i.e. 9th June Nifty 50 couldn't cross...
NSE:NIFTY
These are the Important levels for the Nifty BUY & SELL
* The Pink Lines are for Buying Points
* The Black Lines are for Selling Points
Through This we can Find the Momentum of direction to trade in Nifty Options
This Levels are only for Education Purpose....
nifty has give gap up from the exact same high level twice i.e around 9599. so till it opens next day above 9800 .. trade with caution . as it can reverse the move like previous time making an abandoned baby pattern.
i would prefer shorting with a stoploss of 9900 as it would have good risk to reward ratio.
Nifty has formed a HANGING MAN candle stick on the last trading session, ideally we can expect a gap down and have to wait till the candle closes on RED...after the confirmation we can go for a SELL...
But if there is a bull candle stick is formed on next session the HANGING MAN will become invalid...
Please note that this is my opinion, in no way markets move according to my analysis. Markets can ignore all levels and move in one direction. Please use proper risk management.
1. Never over leverage, that forces you to keep very small stop losses, don't trade if you have to use full margin.
2. If it will be very painful for you, if it hits your stop loss then...
Key Levels for NIFTY50 are :
Upper Breakout~8796
First Target~8857
Interim Resistance~8936
Final Resistance~9019
**Lower Levels**
Lower Breakout~8714
First Target~8666
Interim Support~8601
Final Support~8540
Please trade with caution and consult your financial adviser before trading.
Key Levels for NIFTY 50: You can also JOIN ME on TELEGRAM
Upper Breakout~12294
First Target~12315
Interim Resistance~12334
Final Resistance~12358
**Lower Levels**
Lower Breakout~12254
First Target~12222
Interim Support~12197
Final Support~12161
Please trade with caution and consult your financial adviser before trading.
Key Levels for NIFTY50 : You can join telegram channel from the link in profile
Upper Breakout~12240
First Target~12265
Interim Resistance~12290
Final Resistance~12320
**Lower Levels**
Lower Breakout~12185
First Target~12160
Interim Support~12135
Final Support~12105
Please trade with caution and consult your financial adviser before trading.
Nifty50 30mins. Technically I seeing strong bearish sentiment.
Reason and Confluences:
1. Theres triangle end
2. there's a small H&S
3. there's a bearish divergence on the rsi.
4. that leaner support looks so weak and can break anytime once it breaks then we can see huge crash ahead.
Overall nifty50 index looks weak and can head down to 10862 in a short period of time.
