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NIFTY bounces from 11200! Bears in control.Nifty - Technical Analysis: -Nifty settled 39 points, or 0.35 percent, lower at 11,278. -NIFTY saw selloff in the first session of the day till 11200 and bounced back from the level. -It gapped down owing to the selloff of tech stocks in US and recovered when European markets opened in green today. Market - Driving Factors: -Today's session witnessed sell-off in most sectors, with banks, financials and realty as worst hit. -However, market pared losses due to support coming from select heavyweights such as Reliance Industries, Bharti Airtel and Tata Steel. -PSU bank stocks are among the worst hit in today's sell-off. The Nifty PSU Bank index fell over 3 percent with all components in the red. The index heavyweight SBI fell 5 percent while shares of Bank of India, Indian Bank, Canara Bank and Central Bank of India fell 3 percent each. -Indian markets are expected to be in sync with the global markets and also react to the ongoing border tensions with China. Nifty - Outlook for Thursday, 10th September: NIFTY has broken the neckline of Head & shoulders pattern and also broke the support of 11250, it bounced back from 11200 to see some revival. We expect it to remain in bearish territory and can see further lower levels. The neckline will act as resistance for upward moves.
NSE:NIFTYShort
by Algokart
3
SWING TRADE- GBP/USD- SELL FROM 1.25500-1.25700 REGIONCONTINUATION GU - FROM 1.25500-1.25700 REGION LOOKING TO GO SHORT GU FROM OUR BLUE ZONE WE HAVE CONFLUENCES THAT AT THE 1.25500-1.25700 REGION WE COULD SEE SOME SORT OF SELL OFF IN THIS REGION WE HAVE 61%FIB ALSO A TREND LINE AND TWO PRICE GAPS THAT HAVE TO GET FILLED UP IN THIS AREA ALSO WE HAVE ELLIOT WAVE WHICH LINES UP PERFECTLY WITH THE 4 WAVE I THINK THIS IS JUST A PULL BACK BEFORE WE SEE PRICE DROP TO AROUND 1.22500 THIS IS WHERE OUR FIRST TAKE PROFIT IS OUR SECOND TAKE PROFIT IS 1.21700 THIS GIVES US AROUND 320-400 PIP TARGET DEPENDING ON ENTRY SELL LIMIT 1 SELL LIMIT 2 ENTRY; 1.25550 ENTRY;1.25700 TP;1.22500 TP;1.21700 SL;1.25750 SL;1.25850 R:R; 1:15 R:R; 1:26 REASONS FOR GU SELL 61% FIB DOWNWARD TREND LINE LIQUITITY TRAPPED IN 1.25500-1.25700 R2(INTRADAY)(15) 4TH ELLIOT WAVE - MEANING NEEDS TO AST LEAST GO BACK TO PREVIOUS LOW I WILL LOOK AT PRICE ACTION BEFORE ENTERING THIS TRADE LOOK FOR BEARISH REVERSAL ON LOWER TIMEFRAME IN THE AREA OF 1.25500-1.25700 IF YOU SEE BULLISH MOMENTUM PAST 1.25800 DO NOT ENTER TRADE AT YOUR OWN RISK
Short
by Carlos44