Nifty is in downtrend technically, it is moving towards next support of approx. 10,800 and then 10,650 but it will bounce back from somewhere in between (10,721) of these 2 supports. please see the charts
Nifty will test the channel support around 10800 and likely break it to test it's 200 DEMA at 10770. Important Resistance Levels (purple) and Support Levels (Green) are marked above in chart.
Trade Setup :-
CMP 10850
Short @Cmp or in 10900-930 zone
Stop loss 10985
Target of 10800 / 10770 / 10750 / 10735
All the levels mentioned above are spot.
Nifty is resting at support of 10820-50.
Global sentiments like Rising Crude, Depreciating Rupee, Rising Bond Yields and not to forget Trump threatening to impose sanctions on India are the major reasons of such big selloff.
These negative sentiments will shift Nifty lower towards its 200 days exponential moving average(DEMA) placed at 10770. As per Options...
This 15min chart of nifty shows upside possible range which is 11351-11399 and above 11399 upside reversal is possible. otherwise from there downside range given in chart 11235-11151 is also possible.
With a good 1000 points bull run, NIFTY needs consolidation before beginning a fresh run
If NIFTY closes below 11570, book your portfolios
11350 would be first level to watch out for re-entering longs
Guys NIFTY make test previous high If Don't break new high keep watch...
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such...
Guys NIFTY form Bullish Rectangle Keep Watch and get profit on OPTION
Disclaimer:
The information contained in this presentation is solely for educational purposes. Does do not constitute investment advice. I may or I may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully consider if engaging in such...
Index has a minor support at 10770 levels and strong support for the day at 10750 levels where mid term moving average is lying. Index has a resistance at 10880 levels for the day of 18 Jun 2018.
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Nifty has a strong support at 10550 levels where mid term Moving Average and Fibonacci levels are lying and strong resistance at 10930 levels where peak of May 2018 is lying. If Index manages to break these levels on either side than we can see 10300 levels on down side and 11200 on upside.
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Double Top and Bearish Engulfing candlestick pattern formed on Nifty. It is a signal for bear to takeover the nifty from bull. Fall will start from 10440 to 10396 / 10330 and possible to reach 10240. "Happy Trading"
