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S&P CNX NIFTY INDEX FUTURESS&P CNX NIFTY INDEX FUTURESS&P CNX NIFTY INDEX FUTURES

S&P CNX NIFTY INDEX FUTURES

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NIFTY1! trade ideas

5 Week Rate of Change5 Week Rate of Change turned up. Turned above zero line on week ended 22/06/2023 Since then it is above the zero line. In the supply zone created by the earlier peak of 19031. The supply zone is 19031-18557. For last 4 weeks, SGX NIFTY in the supply zone. Support of 18500 critical. A fall and close below 18500 with bearish candle can lead to retracement/correction of the rise 16899 to 18975. Retracement levels as shown in the chart will come into contention once breakodwn and close below 18490 is witnessed. Subsequently retracement of 18186-17939-17693 to be tested. Rate of Change of 5 weeks can turn down as it is falling. Breakdown below 18490 can lead to Rate of Change of 5 weeks to move below zero confirming the near term to short term correction/retracement. As long as it is above 18490, volatility/sideways corrective behaviour can be witnessed. Essentially a breakout and close above 19031 with bullish candle will help the market to extend the long term up. Volatility and correction are intermdiate to short term. Some time can extend to medium term. It would depend on how traders perceive the respective time frames and the defination of the same.
NSEIX:NIFTY1!
by hitendravasudeo
SGX observational ViewA correction of the rise from C to D for E is likely. Retracement of the rise from 16899 to 18975 are placed at 18490(23.6%) and 18490(38.2%). Ideally must hold these levels. If it does not then next retracement levels 50% 18186 and 61.8% 17693. The correction if extend to either of these levels will depends on correction momentum. Higher bottom will be created at either of the above retracement. Once swing higher bottom is witnesssed then expect rise to resume with breakout above the recent high to extend up to 20428(23.6%) fib-projection and subsequently to 61.8% 24687.
NSEIX:NIFTY1!
by hitendravasudeo
Nifty Futures 22nd June 2023 EXPIRYIt would be very interesting to observe what happens when 1. Price opens within the range marked of Red, Blue and Green Lines. 2. Price opens below / above the range but within the range of the previous day 3. When there is a Gap up and Gap down opening. If You are studying the charts in lower Time frames and observing price action, Let me know in comments your observations on the points 1,2 and 3 mentioned above. Keep Following for LIVE UPDATES
NSE:NIFTY1!
by SABMR