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Nifty did recover from day's low, but it is not out of woods yetNifty posted a handsome recovery from the lows of 11800, and closed 73 points above, this recovery came after a 220 points fall, on an options settlement day and with a negative advance decline ratio. RSI and some other indicators / oscillators are still strong on daily charts but comparatively weak on shorter period charts. This generally means "weakness setting in". Nifty is still out of the channel, it has breached on the downside. Our EMA and RSI combination is yet to turn into BUY on either daily or two hour charts, though with recovery from lows, RSI line has come very close to the EMA. Two hour chart shows formation of lower tops and bottoms. I would advise, staying put for some time in the morning. Allow Nifty some time to cool off after the action packed options settlement. Initiate longs only after 11912 is breached convincingly and this level is sustained for some time. Targets on the upside can be 11946 - 11980. Also shorts can be created if it breaches 11840 and stays below for some time. The downside targets are 11802 - 11780 - 11700. "Puneet_9EMA_21_RSI"* is a simple and reliable indicator, many of us have been using it for a few months as it has given some reliable "Enter" and "Exit" signals, all very close to the tops and bottom. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion.
NSE:NIFTYShort
by ipuneet
1
Bank Nifty - Bearish engulfing candlestickBank Nifty corrected over 500 points today and formed an bearish engulfing candlestick. It is looking weak on other indicators / oscillators too, 9 EMA on 21 RSI indicator did gave an SELL signal neat 30980 levels. Bank Nifty closed at 30541, if it sustains below 30512, 30390 and 30240 can be expected. Any move and sustaining above 30680 may strengthen the bulls for upside targets of 30774, 30822, 30940 "Puneet_9EMA_21_RSI" is a simple and reliable indicator, many of us have been using it for a few months as it has given some unbelievable "Enter" and "Exit" signals, all very close to the tops and bottom. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion.
NSE:BANKNIFTYShort
by ipuneet
1
Nifty - Banks have supported on Monday, today they dragged. Nifty was dragged by Banks today, Reliance and some non bank nifty components tried to support but that was not enough to beat the drag. Nifty formed a full body bearish candle, breaking below an important support level of 11850. It also initiated a pattern of lower tops and bottoms. Nifty spend major part of the day below the lower line of the channel. Indicators and oscillators are also showing weakness, EMA on RSI indicator that gave SELL signal on 8th Nov. near 11980 levels, spend the entire day in deep Sell zone . As I've mentioned yesterday, this indicator has given a SELL signal even on daily charts on 11th, Sell on daily chart generally result in a bigger pull back (i mean bigger than 100-150 points). Sustaining below 11850 for some time will make the bulls weaker and once it trades below 11830, bears may drag it down to 11780. 11700 - 11660 are further possibilities that we may have to see after tomorrow. Crossing and sustaining above 11930 only will empower bulls to take it back to 11950-11980 levels. Utilise the rallies to enter short positions should be the strategy, for the time being. Tomorrow is weekly options settlement day, looking at options chain / open positions data, a closing above 11850 - 11900 looks difficult, even 11800 looks a little shaky. 11750 looks like a safe bottom to tomorrow's closing or weekly settlement. Repeating, this should be used as a reference only as open positions do change with flow of the market. "Puneet_9EMA_21_RSI" is a simple and reliable indicator, many of us have been using it for a few months as it has given some unbelievable "Enter" and "Exit" signals, all very close to the tops and bottom. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ This post is not an advice to speculate using leveraged products, one must thoroughly understand the financial implications, consult some financial adviser before taking any positions. ++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++ Please consider hitting the LIKE button below the chart, if you find this post / idea worthy. You may also FOLLOW me over this forum for periodic updates on Nifty , Bank Nifty and bullion. Please add a comment... Positive feedback and constructive criticism are important to authors as well as the community.
NSE:NIFTYShort
by ipuneet
Bank Nifty | Clear signs of weakness - 30K criticalInitial visual inspection shows the index is recently trading sideways between 30230 and 31715. Point to notice here is that we could observe a negative divergence through oscillators i.e. RSI and MACD. That clearly indicates a negative bias. So by considering these factors, index falling to 30230 (further 400 pts away from current level) now almost looks inevitable. Once BankNifty hits that level, it is important to observe how it responds to that level. Because apart from being range bottom, trendline could offer some support to the index and immediately below that is a strong round number 30K. Hence existing shorts can be held until 30230 and any new positions have to be reactive based on how Bank Nifty responds from then on. (Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)
NSE:BANKNIFTY
by AkhilSuryaFS
if this daily candle closes below 9118 , i doubt this rallyif this daily candle closes on "mother of all resistance" or below $9118 , i doubt this rally for reasons:- 1). volume is decreasing 2).daily candle close on resistance or below 9118. 3). if price trend reverses FROM HERE on HTF , it can make bearish divergence on all HTFs . 4). close of daily candle below upper bollinger band on daily chart . these all r presumptions till oscillators & price action prove it on charts , next 24-48 hrs will be decisive .
BITFINEX:BTCUSDShort
by sachin81ksd
EURUSD Park the brakes again at 1.1300 so farIn majors, our key focus remains on EURUSD as the price has been hovering tad above parallel surface 1.1300. Weekly pivotal finds between 1.1300-1.250 below here focus turn to 1.1200/1.1180 it’s 61.8% fib reaction of Jan 2017 low-Feb 2018 peak. The technical landscape has not changed since mid- August; we still believe 1.1300 is the critical level to focus ahead of the US data risk. While holding 1.1300 (daily closing basis), we could expect a corrective rally to 1.1360 and 1.1400 initially, followed by 1.1450 and 1.1500. We remain to hold on to our recent long EURSUD trade and we still believe the downside risk surrounding the 200MA(weekly) can still be gauged as neutral. Turning to the daily indicators, RSI study is consolidating slightly above 30 level, and the oscillator underneath is remaining indicating a bullish crossover. Today’s economic calendar is relatively empty either side and tomorrow. The interesting fact is the RSI has been making a higher low pattern and the oscillator is making a base. Based on these we expect the price is likely to hold the 1.1300 levels for today and tomorrow. For IMM positioning please read in our blog www.keytomarkets.com
Long
by KeytoMarkets
RelianceAfter a handsome gain price moved in a small range today. The chart looks quite bullish though Oscillators are in the Overbought zone. Ascending Triangle has done well. Thanks to the MARKET. OI Table: Today bears have written huge quantity at 1240 Calls strike (total 1052000 shares added). So bulls could not push beyond 1232. Bulls are holding the level of 1100 Put strike firmly which gives credence to bullishness. Let us wait for another chart pattern to form to take a trades with confidence.
NSE:RELIANCELong
by ParimalDevnath