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EURUSD Idea We are now trading a lower tunnel inside this huge triangle. last week we has ended with the price touching the resistance level . - Hourly chart indicates a potential H&S set up - RSI and MACD showing divergencies Short next to this resistance level aiming to the right shoulder level and see how it reacts. This level is key to show if we are going lower or if we should enter long. If the price fails to build the H&S that means we are going lower setting up perfectly to enter Long
by Hybriss
Nifty Possibilities in Upcoming WeekPURELY TECHNICAL Optimistic View - Nifty retraces to 7500 and rebounds back to current levels to complete a double bottom formation before breaking resistance @ 8900, in which case the target would be 10,000 (Max Call OI). This will become the next crucial resistance level. Pessimistic View - Nifty retraces to 7500, either stays within 7500-8900 level or breaks lower to 6800 (Long term support level for Nifty - check monthly chart). Note - 8000 to act as short term support (Max Put OI). Hey you reading this, would love to know what your views are. Do share buddy, thanks! PS- I also see H&S ;)
NSE:NIFTY
by Nihit-Saxena
4
Banknifty is not willing to move, sign of weakness Like discussed in last post, we are getting signals of weakness in both index, it is better to short intraday or shorter time frame till we get positional signal but at the moment both index are not showing sign of much movement. This reduced volatility is not good, unless there is some +Ve news markets will have hard time moving up, usually this is the time someone kind of government stimulus comes into picture, so lets see if we have something like that. Unless we have some kind of +Ve news to sustain higher levels, I would be very much interested in shorting Banknifty and Nifty at current levels for short intra day trades, positional short will come at end of this month. Hope you made some money shorting today :)
NSE:BANKNIFTYShort
by Pratik_4Clover