Market Bytes 20-Jun-2016 Nifty futures: In the previous session despite gap up openings NIFTY futures failed to clear our swing hurdle of 8250 range.Expected gap down opening below our trend decider of 8140-50 zones. This immediate zone will hold resistance and decide the market trend for today. On the downside a break of 8105 can lead to a test of 8080 levels again. Swing hurdle on the upside continue to remain at 8240-50 zones. #nifty #nseindia #sensex #stock
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Market Bytes 22-Jun-2016 Nifty futures:TEsted the 8250 zone and failed to clear it . Eventually exactly staying within the 8200-8250 zone. downside support continue to remain at 8185-8190 range, breaking that can again attempt 8140 range.and on the upside a clear above 8250 can lead to a test of 8320 range. idea will be to look for long in dips with the support range as SL and reverse below it or to look for a break out long above 8250 range. #nifty #nseindia #sensex #stock
thank you, very helpful. Nifty definitely did not break the upper range today and with such a move, a correction is expected, letting it to continue to stay within the range! But just out of curiosity, what would you read from a gap up opening tomorrow (let's say)?
PowerTrades
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im so sorry missed your note yesterday, but we pretty much saw what transpired, a gap and then not much of a follow up action. so best would be to look to trade pullback on both sides within the range and a breakout or down below