NIFTY FUTURES 27TH JUNE 2023Let's see how the day opens tomorrow. Price action should be watched, and a decision taken accordingly.
Will try and give some live market updates.
Keep following to understand the significance of these lines drawn and how and why these lines are very important.
Please go through the previous charts and check the price action and how these lines responded vis a vis the days open
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.
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.
Nifty Futures 26th June 2023It 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
When to adjust Options - 5 Guidelines to stop your lossesIn this video, I discuss 5 Options selling guidelines which you can use to exit your option trades when they go wrong.
Selling options come with the risk of unlimited losses . That's why, the main aim of adjusting options is to put a cap to the losses , reassess the situation and increase profitability.
Follow @piyushrawtani for more!
Cheers =)
Nifty Futures 23rd June 2023It 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
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
Nifty Futures 22nd June 2023Let's see how the day opens tomorrow. Price action should be watched, and a decision taken accordingly.
Will try and give some live market updates.
Keep following to understand the significance of these lines drawn and how and why these lines are very important.
Please go through the previous charts and check the price action and how these lines responded vis a vis the days open
Nifty Futures 20th June 2023Lets see how the day opens on Monday. Price action should be watched and a decision taken accordingly.
Will try and give some live market updates.
Keep following to understand the significance of these lines drawn and how and why these lines are very important.
Please go through the previous charts and check the price action and how these lines responded vis a vis the days opening.
Nifty Futures 19th June 2023Nifty has given an excellent close on the previous trading day. We do see a strong support and volumes at the 18860 to 18880 levels.
Lets see how the day opens on Monday another strong support is the blue rectangle. Price action should be watched at these supports and a decision taken accordingly.
Will try and give some live market updates.
Keep following to understand the significance of these lines drawn and how and why these lines are very important.
Please go through the previous charts and check the price action and how these lines responded vis a vis the days opening.