NIFTY FUTURE INTRADAY LEVELS FOR 8TH MAY 2023Nifty Future Intraday Levels For 8th May 2023
Disclaimer - All The Levels Are Only For Educational Purpose.
Do Your Own Analysis Before Trade.
Search in ideas for "NIFTY FUTURE"
Gann Levels for Nifty Future - 26-04-2021These are Nifty Futures Gann Levels, Could be used to trade intraday on basis of support and resistance. Any thing between 2 purple lines is side ways movement.
what should we expect of nifty future ahead?NSE:NIFTY1! nifty future and nifty has shown false breakout structure on weekly timeframe, should it break the weekly support we may see nifty future and nifty move downwards till 18800/700 levels.
NIFTY FUTURES CALENDAR SPREAD STRATEGY (CSS)
Nifty futures - Calendar spread strategy (CSS):
(FUTURES CHART NOT POSTED AS TRADINGVIEW DOES NOT HAVE NIFTY FUTURES CHART. HENCE PLEASE VIEW FUTURES CHART IN OTHER SOFTWARES TO HAVE AN UNDERSTANDING OF THE CONCEPT)
Concept:
CSS is a strategy with an objective of profiting from spreads between far month futures and near month futures. The spreads are a function of interest rate.
For eg., as on 09/02/2018, the following are the nifty levels:
Nifty spot level is 10540
Nifty Feb futures 10543
Nifty Mar futures 10565
Nifty Apr futures 10582
The premium matrix is as under:
10540 10543 10565 10582
-----------------------------------------------------------------------------
10540 0
10543 3 0
10565 25 22 0
10582 42 39 17 0
The above matrix gives an overview of the premium levels of nifty.
These can be translated into interest rates. For eg, let us take Nifty Apr futures level 10582; Current spot levels is 10540; hence the futures premium is 42. This translates into an interest rate of 1.91%, which is derived using the following equation.
Futures = Spot X (exp)^( r X t)
where, exp is the exponential function
t is the time in years.
r is the interest rate.
Similarly the interest rates derived for Mar and April futures are 0.80% and 1.80% respectively. Mar 0.80%, Apri 1.80% and May 1.91%; The calculation of interest rates has a relevance in this particular strategy. Before employing this strategy one should ensure that the interest rates are sloping upwards as the tenor increases.
Strategy :
Short the contract that corresponds to the highest interest rate and long the contract that corresponds to the lowest interest rate. In this case short April futures at 10582 and go long Feb futures at 10543. Ideally the spread that is locked is 39. It is a known fact that interest rates go down as tenor decreases and given that logic the spread of 39 is assumed to decrease going forward and the holding period is till the near month expiry date. Margin required for both the contracts is around Rs 60,000 (NRML). The max profit is Rs 2925 (39 x 75) per lot of long and short minus other charges; so approximately Rs 2,500 on a capital of Rs 60,000 for a period of 10 days which is around 4.9% absolute and 178% annualised.
Risks :
Risk to this strategy is widening of the spread where far month contract's rise is more than the near month contract's rise OR a scenario where far month contract's fall is less than the near month contract's fall. To mitigate this risk, keep a stop equivalent to the max profit.
Spread of far month contract over near month contract chart is attached for a visual understanding of the movement of the spreads.
THE ABOVE IS NOT A TRADING RECOMMENDATION. DO YOUR OWN ANALYSIS FOR TRADING.
Nifty FuturesNifty Futures
LTP: 16338.60
Support: 14155
Resistance: 14471 / 14477
Daily charts (long term)
There are multiple but unclear patterns being formed like a bearish pattern called the double top. A small correction followed it forming a new bullish pattern called the falling wedge.
The daily candle of 23rd April is a doji which can mean that the falling wedge pattern is being complete and we may see a breakout in the Nifty futures.
The candles have respected the 100 DEMA which is a good sign.
There are a couple of prominent green candles which again is a bull signal.
MACD doesn't give us an assurance as such. It is clearly in the bear zone with a bearish pattern.
RSI too is in a downtrend.
***I am skeptical due to the pandemic. The markets might react if a new lockdown is imposed or cases rise or to any negative news that we all are already expecting.
Hourly charts (medium term)
My doubts are confirmed by studying this chart. The first look of the chart is very bearish.
The DEMA is reversed. It should be in a pattern of 5, 10, 20, 50 and 100 but the hourly chart has reversed pattern which is a bearish signal.
We can see a struggle in MACD as well. It did form a bullish pattern for a while but has slipped to a neutral zone before EOD.
RSI, on the other hand is trying for a reversal but has resisted the 50 mark again and again and there is an unclear triple top pattern which is a bear sign.
The support and resistence in comparision to LTP give us a bad risk to reward ratio. Also, Nifty futures have made a double top pattern at the resistance of 14417.55 levels which indicates that we should only enter once this levels is broken and sustained.
*** I would expect a small correction and wait for a buy signal somewhere in the chart before making long positions.
15m charts (short term)
Again, DEMA are reversed which is not a good sign.
but MACD is giving us sign of strength and RSI is neutral at this point.
*** There is not much to think. We will wait for a strong bull sign to enter long!
NIFTY futures awaiting breakout at 19850 levelNIFTY futures awaiting breakout at 19850 level, the previous high. ALso spot price almost reached 19800. With the global markets almost reaching all time highs, there are high chances that we will be reaching 20100 in the near future.
Nifty futures forming head and shoulder patternNifty future are forming a perfect head and shoulder pattern on 15 minute chart frame.
If the structure breaks down, good targets can be achieved.
Wait for the pattern break down for entering the trade.
Support :- 17510, 17480, 17400
Resistance:- 17590, 17700
Nifty Futures Level for Sep-Oct 2021Nifty future levels for Sept May be extended in Oct for few sessions.
will Revise levels once nifty moves in next few weeks.
Nifty FuturesNifty Futures
Looks like a bullish flag was made and Nifty did attempt to break it yesterday itself. Let's see where we open today but I think the bull rally should be back very soon.
There is a good support at 17274.50 level so the stoploss should be 17250 closing basis.
Long traders should keep the targets open as the nifty still has steam and we may see 17650 / 17750 levels soon.
Nifty FuturesNifty Futures
LTP: 14855.30
Support: 14683.75
Resistance: 14881.85
Daily charts (long term)
There was a doji on the 23rd of April which is a pattern that suggests a reversal and Nifty futures have been in in uptrend since then.
The candle today has broken a downtrend since 12th March.
20 DEMA is at 14623.03 which will be our first support level.
MACD is in the bear zone but there is a slight reversal. We will consider this as neutral.
RSI has crossed above the 50 mark.
***The only factor that concerns me is the gap between the 20 DEMA and the LTP which is of around 225 points. The trend is clearly bullish.
Hourly charts (medium term)
There is a strong resistance at 14881.85. Nifty futures resisted at these levels on the 3rd of Feb and has been taking support and resisting it since then. The timeline shows the strength at these levels.
MACD is bullish and strong.
RSI is in the overbought range which means that we may see a running correction.
***We will wait for the right entry point to go long.
15m charts (short term)
14821.29 is the 20 DEMA for this period which is quite close to the current trading prices.
The volumes are in red.
MACD is in the bullish range but is in a bearish reversal.
RSI is in a correction mode. It is correcting itself from the overbought range.
***Consideration and comparing the hourly and 15m charts, we will wait for a running correction and right signals to enter. 29th being a Thursday can see a sharp up move when short covering comes in play but this doesn't mean that the nifty is in an uptrend.
Nifty FuturesNifty Future
Daily Chart (Overall long-term)
I've 2 trendlines (blue). The first one is cut-off and the second one is the trendline that we are following now. Daily candles are taking support here and we can see a very strong upmove if anything funny doesn't happen.
The black dots are Parabolic SARS. Parabolic SARS is an indicator which if down signals buying and if the dots are up means we may see a down-move. This indicator is giving us a buying signal as of now.
You'll see the the candle is also taking support on the 20 MA. The zone above 20 MA is bullish and viceversa.
The RSI has taken a turn upwards from the 50 levels which is also a signal of strength.
Overall the daily charts don't scare me as of now.
Hourly Chart (Short to Medium term)
The candle will have to make a very strong upmove above the 20 MA to enter the bullish zone which is very much possible. We can see weakness as the candle is currently below the 20 MA.
*20 MA can be treated as a current trendline for beginners.
RSI too needs to bounce back up as it has resisted the 50 levels which again is not a bull zone
Candles didn't give me many signals so I shifted to Heikin Ashi which does show strength though a strong upmove is still needed to be sure.
Overall, the trend doesn't look bearish but it surely indicates laziness on the hourly charts.
15m Chart (Intraday)
Parabolic SARS show a bullish signal
The candles are trading above the 20 MA which again is good
RSI shows a downtrend which again needs to change
My call here will be No Trade till the RSI shows a reversal above 50 levels.
Nifty FuturesNifty Futures
Now, there is a slight conflit in ideas here. If you check the daily chart of Nifty futures, the candles have closed above the mid-average of the trendline but if you see the charts of Nifty spot, the candles have not been able to sustain above the mid-average.
Now, another thing which is making me skeptical is the trend on 15m charts. You can see that the chart is clearly breaking away from the uptrend and now we have to watch if we see the charts fighting back today.
My suggestion is to wait but if you have to trade, like, if you are an impulsive trader then you should buy on dips.
Support is at at around 14990 levels and resistance, as seen yesterday as well is at 15230 levels.
NIFTY FUTURE ANALYSIS ON 23 FEBRUARY 2018NIFTY FUTURE CHANGER LEVEL AT 10382
NIFTY FUTURE ROLLOVER COST AT 10395
Had mentioned that long positions for the day can be taken above 10410 and short positions can be taken below 10380 . Nifty then triggered our SHORT trade AT 10380 and nearly completed 2ND targets 10330 . As mentioned in the previous post " Now this FRESH MARCH SERIES Nifty has to sustain / close above 10450 to test 10650 - 10675 initially and above it till 10765 - 10860 next . For a further downmove this week Nifty has to sustain / close below 10380 to test 10260 - 10235 initially and below it till 10145 - 10050 next .
Nifty FUTURE Levels for the day are
Long above 10410 for 10455 - 10485 - 10535 , SL 10385
Short below 10380 for 10350 - 10330 - 10280 , SL 10405
NIFTY FUTURE has formed symmetrical triangle patternNIFTY FUTURE has formed Ascending Triangle Pattern on 1 hour chart, where we're expecting more upside in the upcoming sessions, if Nifty Future will break 17988.95 or 18000 Levels after touching point number 8.
If Point 8. wouldn't work as support level for Nifty Future and it will get break by good selling pressure, Nifty Fut can retest the 17750 levels and then we can expect more 200-300 points downfall soon.
Important levels to watch :
Strong Support - 17780
Strong Resistance - 18000
Disclaimer : The mentioned levels are only for educational purpose, please do your own analysis before taking any action in the live market or consult your financial advisor for the same.
Nifty Futures Analysis, Nifty at crucial level.Nifty Futures Analysis, Nifty at crucial level.
The Nifty is likely to retrace and rise further, if it breaks the resistance line and stays above 17500, we may see new highs in the short to medium term. On the downside, major support should be around 17000-16500. Current scenerios, news is always going to have a major impact.
nifty futures imp levels 7 febnifty future two fib levels show support 17485 if close below then sharp selling 17324 if bounce then we can see 18056 soon...............
Nifty FuturesNifty future took support at the green trend line Probably can recover from here. View negated if the low 967 goes. Anyway, I have my trend following system to make my exit and entry.
Nifty Futures Intraday SetupsNifty Futures Intraday Setups
Nifty Futures is in intraday uptrend till it is above 18090. Will be looking for long above 18100 and break fail of 18090.
Nifty Futures 14324 - Positive divergence Nifty Futures 14324 - As we find positive divergence in Nifty futures, we will look for opportunities to go on long.
nifty future monthly analysis on may series 2018
NIFTY FUTURE TREND CHANGER LEVEL AT 10557
NIFTY ROLLOVER COST AT 10590
nifty as per time analysis 3 MAY & 9 MAY & 10 MAY & 27 MAY AND 30 MAY is gann pressure dates, we can see impulse move around these dates
now nifty has IMPORTANT crucial level at 10600 AND monthly basic bull should protect 10600 will have upper hand can test upto 10850-10965-11100 and below close 10536 level bear have upper hand can test upto 10410-10250-10100 levels.
nifty future monthly LEVEL ARE
GO LONG ABOVE 10750 TARGET=10860-10960-11100 STOPLOSS=10662
GO SHORT BELOW 10536 TARGET= 10410-10210-10100 STOPLOSS=10610
NIFTY FUTURE WEEKLY ANALYSIS ON 30APRIL TO A MAY 2018NIFTY FUTURE TREND CHANGER LEVEL AT 10555
NIFTY ROLLOVER COST AT 10590
nifty as per time analysis 30 april AND 3 may is gann pressure dates and we can see impulse move around these dates
this week bull should protect 10600 level for further rally upto 10769/10847/10950 levels and bear should have upper hand below 10496level further fall upto 10310/10100/9920
now nifty has IMPORTANT crucial level at 10600 AND monthly basic bull should protect 10600 will have upper hand can test upto 10850-10950-11000 and below close 10350 level bear have upper hand can test upto 10250/10100/ 9927-9846 levels.
nifty future weekly LEVEL ARE
GO LONG ABOVE 10720 TARGET=10795-10850-10950 STOPLOSS=10660
GO SHORT BELOW 10600 TARGET= 10564/10482-10374 STOPLOSS=10650
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nifty future weekly analysis on 23 april to 27 april 2018NIFTY FUTURE TREND CHANGER LEVEL AT 10555
NIFTY ROLLOVER COST AT 10129
nifty as per time analysis 21 april is gann pressure dates is holiday so impact on 23 april, we can see impulse move around these dates
this week bull should protect 10555 level for further rally upto 10600/10730/10850 levels and bear should have upper hand below 10490 level further fall upto 10310/10100/9920
now nifty has IMPORTANT crucial level at 10100 AND monthly basic bull should protect 10100 will have upper hand can test upto 10210-10410-10600/10850 and below close 10000 level bear have upper hand can test upto 9927-9846-9756-9600 levels.
if nifty trade below 10496 fall expected towords 10310/10100/9920 and so nifty bull should protect 3 consecutive close above 10555 farther rally upto 10610/10730/10850 levels
nifty future weekly LEVEL ARE
GO LONG ABOVE 10600 TARGET=10645-10730-10850 STOPLOSS=10540
GO SHORT BELOW 10535 TARGET= 10496/10382-10274 STOPLOSS=10585
