SGX nifty has been in a triangle pattern forming a rinsing wedge. A rising wedge usually turns out to be a breakdown. The current scenario is a pretty confusing one as the prevailing situation are not favourable but in option chain analysis the market seems to be bullish. Likely to be a good watch this week in Nifty to understand correct move. RSI always above 70...
10145 to 10345 price range holding currently bull structure still intact sudden push upside breaking 10264 next bull range 10600 to 11000 nifty next upside range. Right now there's much probably to break upside and theres a bull divergence also created in the same range.
Nifty Future June
Since 5th June NIFTY Future
High & low as follows
kind of Lower High & Lower Low pattern..i.e., Each high below Previous high as above & low also below the Previous low...
4) Currently 9977 (High) »»»>9765.50 (low)
So now if we cross 9936/9977 it is easy to reach 10035 -...
10200 is the psychological level once that level tests I'll look for shorting opportunity once the price 10120 level broken to the downside. KISS formula.
1. Huge divergence on the multi time frame.
2. Price reached and reaching to a higher range.
3. I don't want to be left from the entire downside.
4. The global market is bullish.
1. In this chart I circled price behavior in green at all levels provided few days back give the correct information of frequent entry and exit . If anybody has the knowledge of how much any move whether with trend or counter trend will travel in correct direction can perfectly work in intraday trades with the help of given support and resistance in this range...
COMPARING MY YESTERDAY STATEMENTS WITH REAL MOVE IN SGX TODAY.
1. In my last statements point no 2. I clearly mentioned that if price till morning do not cross green dotted line then gap up opening can convert into flat. But you see price crossed dotted trend line so market opened gap up. see in fig. I gave the cross area in yellow color which does not provide...
On 18th May Sgx Nifty gave a flat opening after that it felt more than 200 points with the opening bell of Indian Market. On second half sgx again climbed up and broked the resistance.
Possibility is very high SGX will open near 9100 in the morning. If it breaks 9100 and sustains for more than 30min Long can be initiated talking a target of 9140.
If SGX breaks...
As the current situation persists, all world markets showing sign of recovery and we hopes that SGX Nifty may turned in dark green tomorrow and all the sour of today might be forgotten tomorrow. We can see some good moves in the coming sessions. In my opinion, Nifty is looking like this in the Forthcoming sessions.
COMPARING MY PREVOUS STATEMENT TO REAL MOVE IN SGX TODAY.
1. In previous post point no.3 I clearly told you about the condition of green doted line quoting my words " morning star parttern is seen that has been tested in next candle. If it really works then green dotted line will breach and price will go to in 1st micro zone ." You can see price breached the...