Niftyshort
Nifty Intraday Support And Resistance (10 june)I would choose to be bearish tomorrow.
Tomorrow nifty might test 9960-9940 levels tomorrow. This is very crucial support out there. after this, we can see directly to 9800 and may go down more even though.
Keep SL tight and work mostly in bears until data gets positive which is in zone 9250-9300
IS LAST TWO HOURS BUYING FAKE OR REALLY NIFTY GOING UP SEE !!COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE TODAY IN NIFTY.
1. In my previous statements point no. 4 I quoted that t " to show shooting star power if strong bears entered at this stage then they should break red dotted trend line as well as red solid horizontal line with taken out condition. only then trend will reverse to down side. " You can see nifty opened flat and in first candle tried to move up by breaking blue line but price got rejected and came back under line. Same with second candle. This is same pattern in bnf . I showed you in my bnf post. Then price traveled to red solid support by breaking red dotted trendline fulfilling half condition. Then see bulls took entry . circled in green.
2. Why I did not advice to go positional short Just because of this move manifested yesterday. In bnf I advised to go short but here did not.That was the reason.Every day I show you the perfection of all moves manifested and levels given few days back working so perfectly that anybody can trade by following given conditions.
3. If last two hours are strong buyers then tomorrow can give gap up opening out of green resistance , otherwise good gap down opening to break this structure. Next target of down side is white dotted line. Those who took positional short today as per my condition which I shared yesterday is not fully filled. So can be risky. Where as shorting in bnf was advised yesterday. Conditions for long and short are same written in yesterday post. Rest market will decide.
YOGESH VATS
NIFTY 50 VIEW FOR 4TH JUNE,2020NIFTY 50 respected both the levels as I had posted in my previous post. It ranged between 10040-10169./
Today the index opened with a significant gap up above 10100. It was however not able to hold those gains and end of day,it closed below 10100.
A close below 10000 and we could have seen a fall tomorrow. 10000 is a key psychological level and tomorrow it will be a interesting expiry day.
If Nifty is able to breakout above 10700 level, I think then we can see a possible upside towards the previous trendline. (See 5 Min Chart Image below)
Above that, bulls may be looking to break 10169 which was a level I had mentioned in my previous post.Today that level got tested but was not sustain and we saw a fall towards 10035.
Take a look at today's 5 min Chart and analyse the movements :
The day's low was broken and we saw a good fall towards 10035.
10030-10040 is also an important level as can be seen in the daily chart I've posted.
Everything else I have mentioned in the chart.
On the downside,key levels to watch out for are 9995 or the psychological 10k. If even that is broken we might see a fall towards 9930 and then towards 9887.
75 Min Chart :
240 Min Chart :
NSE:NIFTY
This analysis is for learning purposes and if anyone has something to add on or if you spot a mistake,do write it in the comments. All kind of suggestions are welcome!
This is just my viewpoint and please do not take trades based on this. I do not mention specific targets or stop losses as I don't trade FnO segment.
LETS DECODE THE POSSIBILITIES IN NIFTYThere is a high probability that nifty will face resistance at 23.6% Fibonacci resistance around i.e 10028 levels at close .
POSSIBLE REASONS - 1. Its Fibonacci retracement level of the previous rally.
2. The number of time nifty has taken support at this level in the past , its now a probable resistance. (support becomes resistance and resistance become support rule)
3. The Red colour trendline is also making a resistance on a long term chart around 10400 level.
CONCLUSIONS - high chances that nifty makes a high around 10400 and fizzles out by the closing of this month.
NIFTY CASH DAILY FORECAST FII bought 19.2 K contract of Index Future worth 1283 cores, Net OI has decreased by 2.5 K contract, 8.2 K Long contract were added by FII and 10.8 K shorts were covered by FII. Net FII Long Short ratio at 0.90, So FII used fall to enter longs and exit shorts.
Nifty open with gap up bulls were able to enter above 9132 but missed our target by few points as high made was 9261 , Bears got whipsawed below 8900. We have weekly expiry tommrow Bulls need to move above 8980 for a move 9020/9067/9150. Bears will get active below 8860 for a move back to 8780/8733/8686.
Upper End of Expiry : 9157
Lower End of Expiry: 8692
ENTRY OF BULLS SEEN IN NIFTY ARE THEY STRONG OR WEAK !!COMPARING MY YESTERDAY STATEMENTS WITH TODAYS REAL PRICE MOVE.
1. In my previous post I said in point no.1 a ref line in daily chart is intact so market can move down . it means one has to be in shorts till this yellow ref line is intact. But when in day after 1.30 nity cahnged its sentiments by breaching it ,there was no logic to be short. That is why given this for trend refrence.
2. In my 2. no point I made you clear to see in daily chart not on small time frame chart . Some of the traders were trying to use it on 1 hr time frame. Actually on smaller time frame it will create illusion in price action. Because it is not trendline which is made with joining of two points. That is why is ref line not trendline. One should carefully follows instructions given on fig . You will never fall pray to greed and fear. These instructions will help you keeping them away while trading.
3. This is my experince which I put in form of zones, support and resistance. If you follow all instructions , you will find trading easy.
4. Now see this ref line is breached so the down trend is stopped for time being. see a red white dotted zone which acted powerfully as support in last few days so this time it should act as resistance. Therefore, I feel that tomorrow market may not form big bearish candle but this zone will not be taken out . Can form some small range bound candle.
5. Nifty can breach this red and white dotted zone but should close below upper end of this zone for bearish sentiments. On the contrary if it do not do this then shorts sentiments can be changed. I think nity can spend some time here. Rest market will decide.
YOGESH VATS
IS NIFTY READY TO MOVE FURTHER DOWN SEE IN ANALYSIS !!TARADING PLAN FOR NEXT DAY 20-5-20
1. Threre is nothing to compare in my last statements with actual move , as nifty made inside candle so nothing to compare. A yellow line is intact so nifty is ready to go down to blue zone. That I said yesterday and sticking to this point. If dow today closes in bearish down candle then tomorrow this move will continue. Otherwise would stand still like today.
2. As in my previous so many post I have said it several times that nifty has to travel less distance where as bank nifty has to move more. so you will see momentum in bnf. The reason has aslo been shared in my prevoius post that nity has made bottom where as bnf has to make. so remenber the condition of yellow ref line in daily chart not in small time frame charts. Rest market will decide.
YOGESH VATS