As expected, nifty gave a slow move towards upside and the same we expected.
@Today
It broke the channel but was not able to sustain above it and came back in channel at the end of the day by forming the upper shadow, this upper shadow shows the sellers strength at the level.
one more...
Today it was a range bound day, not much move.
On Daily chart Nifty has formed a Doji kind of candle, but as there is no trend and it is in the middle then it is not worth to think about it.
So what next?
Tomorrow I am expecting a bullish day by looking at the market structure and structure is higher high and higher low. Above 11430 I am looking to buy, but...
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Wait...
Nifty is showing support @ previous Highs as mentioned in the charts.
This looks to be a potential reversal zone.
RSI rising >50 is a good sign. StochRSI is looking to be making a crossover.
This is the earliest signs of reversal, (ultimate confirmation is yet to happen) from the bottom so please keep your positions light. Will update when position sizes can be...
Charts reveal that the value area zones have been acting quite effectively and now with the current levels around 11180 attempting to prevent the cascading effect. The next value area lies only around 10960 (red line) which is around 220 points from the current zone. Overall factors do suggest that the Nifty would need a firmer resolve to revive from the current...
MARKET ANALYSIS: The pair is now in accumulation period and if the market is able to break the all time high. We can see another 50 points rally to the next resistance zone. So lets wait and see what the market does in the coming days. Cheers!
Another volatile week ends flat for major Indian indices. The Nifty and Nifty bank both ended marginally higher in expectation of some truce between the US and China with regards to trade war. However, the street did give sellers an opportunity to go short as per zones given in last week’s report.
Going ahead Nifty continues to be high on the curve and shorting...
Yesterday we witnessed much volatile day, sharp upside and then a sudden fall. while upside most of the trader has trapped but those who were looking on 15 min candle it was clearly indicating a fall but nobody has expected the sharp fall.
@MONDAY
Now what is going to happen on Monday.
Still I am looking for a bullish day, Yesterday we saw a sharp rejection...
Yesterday we witnessed much volatile day, sharp upside and then a sudden fall. while upside most of the trader has trapped but those who were looking on 15 min candle it was clearly indicating a fall but nobody has expected the sharp fall.
@MONDAY
Now what is going to happen on Monday.
Still I am looking for a bullish day, Yesterday we saw a sharp rejection...
ghstocktrading.webnode.comNIFTY 50: WEEK-TECH-SHEET->30th September2019 to 04th October2019
Nifty 50 moves around -395.85 pips from 30th September2019 to 04th October2019, in which nifty 50 break last week 23rd September2019 to 27thSeptember 2019 bottom 11416.10.
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