Market Bytes 21-Apr-2016
Nifty futures: Not much of a change in the trading plan. We had discussed that 7850 will be the new base and hurdle lies at 7980. Yesterday daespite all the momentum the futures felt short of 7980 (High Made: 7959.50). Also on the downside NIFTY futures marked a low near 7890 levels well above the base and once that level was confirmed upside pull back was confirmed. We are likely to test the 7980 levels today. If that level is respected expect another round of upside from there for higher levels in coming sessions.
(Missed posting my post for 20-Apr here- Will Post it as a comment)
#nifty #nseindia #sensex #stock
Nifty futures: Not much of a change in the trading plan. We had discussed that 7850 will be the new base and hurdle lies at 7980. Yesterday daespite all the momentum the futures felt short of 7980 (High Made: 7959.50). Also on the downside NIFTY futures marked a low near 7890 levels well above the base and once that level was confirmed upside pull back was confirmed. We are likely to test the 7980 levels today. If that level is respected expect another round of upside from there for higher levels in coming sessions.
(Missed posting my post for 20-Apr here- Will Post it as a comment)
#nifty #nseindia #sensex #stock
Comment:
Market Bytes 26-Apr-2016
Nifty futures: NIFTY Futures yesterday went on to test the downside support zones of 7850 and breach it as well , but managed to pull back and retraced strongly to close well above the 7850 range. This does indicate that there is a good base that was respected. So this makes our trading directions clear. Swing wise short trades will remain active until 7930 is breached on the upside. On the downside a crack of 7850 can lead to testing of the gap zone and a test of 7750 levels in coming sessions. watch out for 7910 as a intermediate supply zone. At the same time intraday posiitions can be created if markets surface above 7850 zones for targets of 7900-25.
#nifty #nseindia #sensex #stock
Nifty futures: NIFTY Futures yesterday went on to test the downside support zones of 7850 and breach it as well , but managed to pull back and retraced strongly to close well above the 7850 range. This does indicate that there is a good base that was respected. So this makes our trading directions clear. Swing wise short trades will remain active until 7930 is breached on the upside. On the downside a crack of 7850 can lead to testing of the gap zone and a test of 7750 levels in coming sessions. watch out for 7910 as a intermediate supply zone. At the same time intraday posiitions can be created if markets surface above 7850 zones for targets of 7900-25.
#nifty #nseindia #sensex #stock
Nifty futures: So far our resistance levels of 7980 that we had pointed a few sessions back continue to hold well. Markets seem to have been challenged to clear that and this has provided some good contrarian opportunities. On the downside as mentioned the base remains at 7850. Not much of a change in the trading plan. We had discussed that 7850 will be the new base and hurdle lies at 7980. NIFTY futures marked a high just around 7980 and went to form a lower high at a 7950 band.Trade contrarian pull back shorts until 7980 is cleared and If that level is respected expect another round of upside from there for higher levels in coming sessions to test the 8150 levels.
#nifty #nseindia #sensex #stock