Understanding trades of nifty future for 29.07.2021 (Monthly Expiry).
Nifty Futures Support: 15694 Resistance: 15897 It is evident that the Nifty Futures are range-bound since 3rd June 2021. Nifty futures did trade at the highs of 15870 levels yesterday but clearly the strength is not enough for it to sustain the higher levels. Another point to notice is that the futures are in discount over the spot prices. Nifty spot closed at...
Nifty to have uptrend based on the resistance level hit for the past two months
Nifty View: A disappointing close from the benchmark Nifty index in today’s session - down 85 points to post a close at 15,734. This fall reverses the short term trend of the index DOWN and back to the support zone close to 15,650 which has so far worked well to hold up most sell-offs. Now, will it be able to hold up the index this time? My guess is as good as...
a bearish divergence is visiable in nifty future . you can see a decrease in volume . Its my first analysis please help me if any errors were found.
In my previous post I had shared that until & unless nifty future doesn't trend in a particular direction for a prolonged time, a strong trend will not be established. Market has closed negative but price closed near the lower end of our support band of 15800 to 15730. Trend of Nifty future in daily chart continues to remain flat although trend is now down in...
Overall view still bearish in my opinion, even if we get bullish signal I would say use less quantity.
understanding trades of nifty future for 28.07.2021 (Wednesday)
Sustaining 15800 - 15820 wil make the price to move towards 15860, 15900, 15940 and 15980. Bearish below 15780 for the targets 15740, 15700, 15660 and 15620.
Nifty View: The Benchmark Nifty index has been particularly erratic over the past few weeks as it failed twice to see follow-through movement post a breakout. The daily chart of the index will reflect a “Broadening Triangle” which implies the existence of a higher high and a lower low - a classic sign of confusion. The underlying short term trend of the index is...
understanding Nifty future trades for 27.07.2021 (Tuesday) ,on the basis of support and resistance.
Nifty Closed @ 15820. Whole day spent time between 15820 - 15860. None of the 15 Min. Candle closed above or below said nos. At the time of closing it broke 15820 and settled. MACD gave Bearish Sign at day end. One Can Sell at opening with SL of 15900. Don't expect big target, cover your shorts near 15720 (+/- 10) points. Try to long near same.
Nifty Head and shoulder Pattern found in Nifty in 1h chart. Sell with sl 15925. sell below 15800. i calculated target 15300. Trade with care and do your own research before take the trade. Good luck all.
In sideways zone for now, look for small bounces during intraday near support and resistance levels. If sustains above or below the levels, enter long and short accordingly.
Review chart for past month or so. On 1 hr timeframe Long spell of range bound PA Price is turning around lows and highs. No breakout entries successful. Price not giving continuation entries around midpoints of DC. In retrospect, scalping looks like better option in lack of direction on this tf.