Nifty Futures
Support: 15694
Resistance: 15897
It is evident that the Nifty Futures are range-bound since 3rd June 2021. Nifty futures did trade at the highs of 15870 levels yesterday but clearly the strength is not enough for it to sustain the higher levels.
Another point to notice is that the futures are in discount over the spot prices. Nifty spot closed at...
RSI could not sustain above 48, RSI below 50 indicates weak momentum today was the sixth consecutive closing with RSI below 50.
On two hours and hourly charts, RSI closed below 45 at closing, indicating further weakness.
EMA on RSI turned bearish even on shorter term charts.
Bias is on short side, keep looking at short period charts for confirmation.
As...
300 point range in nifty, since 3rd of June, tries to escape either side but fails to break it!
Opened a short position today morning seeing a negative candle + doji!
Turned out to work in my favour!
Magic Lines:
All supports are not for buy level. As like all resistance are not for sell levels
After long research and back testing we find which S&R is for sell level & which S&R is buy level.
In that result we give the pure intraday levels in charts.
BLUE LINE ARE BUY LEVELS (Target lines)
ORANGE LINES ARE SELL LEVELS(Target lines)
Additionally we added...
