Niftyfutures
NIFTY Options [June 17: Under Pressure]Under the Pressure of Bulls
Candlestick Analysis
At the End of June 16 there is a long body Red Candle showed up. Also the Market Opened Gap Down. This indicates that there are more sellers in the market than buyers. Also it not likely to be a Trend Reversal because the candle formed today must be larger than the previous two days candlesticks, if this happens it signifies a potential Trend Reversal.
Technical Analysis
Pitchfork Analysis Shows that the Price Action has Reached to the Support. ADX is no more usable because the ratings are below 25. DI+ and DI- is converging could be a start of new trend. Price Action is still gaining momentum. Volume, Volatility and Liquidity is keep on increasing, which signifies a start of potential new trend.
Fundamental Analysis
Adani Shares are still falling down and on a pressure of buying. Reliance Industries falls more and more than expected. The Four-Day Winning Streak has been broken today. Oil tanks up in demand which is moving in a great demand Oil prices are expected to rise more. Top Banks went down and again the banks are in a pressure to respond.
Summary
Candle Sticks shows there are more sellers. ADX is moving towards Ranging Market. Direction Index show there might be a new trend and Volume is increasing. Adani and Reliance shares are falling towards an extreme buying pressure.
Overall Strength is Bullish.
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NIFTY (June, 15, 2021) Option SignalsSUDDEN ATTACK
Extremely Heart Breaking Climax Scenes has happened Today
At the End of Today Bears showed some mercy to Bulls.
Price Action is getting some momentum.
15,809 Support and 15,714 Resistance for June 14, 2021
The Game is currently on Bears Side.
The Arrow Path can be helpful to find the Price Action recent patterns.
Overall Strength Bearish.
Expecting a -42 Points Down.
Open a Put Option at the Dip Value of +42 Points.
Put Option Strike Price of 15,750.
At the End there might be a Red Doji like Structure.
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NIFTY Weekly Special (June, 14, 2021 to June, 18, 2021)Slow and Steady wins the Race
The Next Week Forecast is Tricky this Time.
Chances are High that NIFTY Could Resisted again at this level.
Fibonacci Circles are recommending a small body structure at the end.
While the Pitch fork Resistance levels are quite high it could be effective until 30, Aug, 2021.
Chances shows that either a minimum of 80 Points Up or 80 Points Down.
RSI Recommends a Overbought Level.
My Forecast is NIFTY to be Bearish this week .
Check my Previous Post on NIFTY to get a clear idea for dumping your stash.
NIFTY Levels this Month (JUNE) [RACE AGAINST TIME]NIFTY TO THE SKY 🚀🚀🚀
The Chances of Survival of Bulls is getting High.
Price Action is making a Huge Momentum.
Pitch Resistance levels are quite high from the last closing point.
Increased Volatility shows a higher survival rate for bulls.
Sudden Rise of Volume is also a major impact on the market.
Cash Flow Rate is increased because of FII's.
NIFTY will move Upwards the Month.
When the Time Decays the Volume and Volatility increases, this results in a Boom Up of Price Action.
This Time NIFTY Could make a record high. The Level is 16000 this June NSE:NIFTY .
Keep Your Eyes on the level. NEWS Could Play a Role.
But Wait, don't make any decision blindfolded. If you have seen my Previous Post about NIFTY you can Dump your cash!!
Check the Post below.
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PAY BACK (NIFTY) [June]NIFTY is under Surveillance of Bulls
Price Action is Gaining Momentum!!
Pitchfork Pivots is giving Extra Pressure to NIFTY
Fibonacci Spirals shows another Pivot range in the near Future could be effective until 23 Jun 2021.
Chances are Typically High to Start another Enormous Trend.
If NIFTY could keep the Momentum stable the chances are High to make a move Potentially Uptrend.
If NIFTY could keep the Momentum unstable the chances are High to make a move Potentially Downtrend.
For the Confirmation of Uptrend check if the Price Action is Breaking the Pitchfork Pivot Point Upwards (Minimum 2 Candle DAILY Rally).
For the Confirmation of Downtrend check if the Price Action is being Resisted again when it touches the Pitchfork Pivot Line. (Minimum 1 Large Red Candle DAILY)
For two days the Bull and Bear War will Continue. The Third Day the Winner Pay Backs.
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NIFTY Analysis Monthly Special(June 2021)NIFTY Straight to Bears Mouth!!
The Most Deadly Combat of Bulls and Bears has Arrived.
Price Action is found to be Replicating Every Moves Over the Past.
The Replica Zone will make it Easy to Predict the Most Probable Move.
The Core of the Game tells that the Price Action's Momentum is stunned.
The Support Zone Replicated the Previous Price Action Movements.
Gann Ratings are below 1/1 which is Bad for Nifty in this Situation.
Pitch Fan Core Support is Broken, Extremely Getting Hard Now.
Overall Strength Bearish.
Could be another attack of Bears.
Expecting a -400 or -900 this month.
The Bulls need to make an Extreme Dump of Money to give Support.
NIFTY is Expected to be Bearish the Month.(June 2021 NSE:NIFTY )
News Could Make a Dance
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Nifty 19/05/2021 opening ideasFrom the chart it is visible that the bullish move still has some strength left and today was a profit taking day hence the sudden pause.
The ascending channel for Nifty clearly shows a gap up opening of minimum 30 points.
Also, the bulls seem to be in control since price tried to break the lower line of the daily channel twice and retracted also indicating somewhat similar to a double bottom pattern.
Despite of the direction of the opening, the channel can be used as a support or resistance for the coming sessions.
Nifty Channel BreakoutNifty has been consolidating from February while US market has rallied to record high. Q4 season seems to be decent show and covid wave 2 are showing signs of peaking out. Around 10% population is vaccinated and another 40% vaccination will ensure wave 3 has less effects. Nifty still has lot of upside. Keep the first target as 15850, T2 - 16100, T3 - 16500.
Nifty has also bounced after retracing Fibinocci levels. Supporting trend line has been drawn for guidance incase anyone want to trail and close the position before target.
Nifty: Support & Resistance as per 26th May 2021 Option OI DataNifty Support & Resistance as per 26th May 2021 Option OI Data
15400 CE has maximum Lots 14,462 against 15400 PE 3,849 Lots
15400 will act as resistance for tomorrow and a Quasimodo Supply zone is there.
ATM 15300 PE has 32,759 Lots against (-)8,283 Lots Call side
15250 PE has 21,575 Lots against Call side (-)7,391 Lots
15200 PE 31,985 Lots against Call side (-)16,987 Lots
15250 and 15200 will act as strong support for tomorrow
This is my idea as per today's FnO Bhavcopy option OI data.