Nifty has moved up quite a distance from last update. Now as it is visible in chart, it is near other resistance level as well as RSI is also near 80. There are high chances that NIFTY will take a pause here before resuming its upward movement. Time to book some profits and update Stop losses at least intraday.
NIfty is taking support at 11200 (spot prices). Whereas more calls are being written at 11250 strike price (as per NSE website). So, though the market is not moving much on up side. It looks like unless 11200 is broken decisively, it is consolidating at current levels and we will see more within next couple of trading sessions. Tread carefully.
In 30 min chart (also in hourly), NIfty has made a clear positive divergence. The index is taking support 11100, which is second time since monday October 7, 2019. The option data also suggests a good support at current level. Looks like we may see a 80-120 points up move from here in NIfty.
As Mentioned in last week's Idea posted on August 9th to Short Nifty from 11160 , this is a follow up Post. Nifty Broken the Very strong Trend Line which is supporting Nifty from Dec'16. (33 Months Trend - broken) and all set for new Low's. Keep Following me for regular Updates.
Looks like we have formed near term bottom here. My sentimental RSI has turned green. So don't short nifty now , be long. 50 day moving average around 11500 can be big resistance. I wound but Aug 11000 call option and sell 11500 call option. Going long has high probability on making money. Happy Trading !!
This shows the internals of the expanded flat, as detailed in one of the previous updates (link attached), that Nifty might be forming. This is a rather far-fetched view and the view is correct conditional on Nifty following each of the above arrow. At this stage, this seems to be the most likely future pattern.
if break above than buy if break at down side than sell it......education purpose only......
Nifty is in correction phase. Next Target: 11760 Nifty is falling towards its central line of the channel. 11760 may work as support, if it breaks, then can see major fall. This is just my view, Trade at your own risk.
Disclaimer - I could be wrong/Trade at your own risk...
Disclaimer - I could be wrong/Trade at your own risk...
Avoid going long on Nifty for short term . Long term trend is still bullish, 50 SMA is green, but on short term RSI is moving down and VIX in moving up. Avoid long on Nifty . Happy Investing !!!
Nifty On weekly Chart is Very bullish as price formed Bullish pinbar and Price is getting ready for 3rd wave so entering near 11720-40 with 11660 Stoploss for target of 11900-12000. Risk Reward is 1:1.5
Nifty has Formed Negative Divergence on Weekly chart and also closed below Monthly Resistance level of 11750. Nifty May Come down to fill the gap near 10700-10680 But entry near 10640-10650 Will provide us good risk reward ratio for 12000 Target.Risk Reward for this trade is 1:3
Nifty Is in Strong Uptrend since mid march. Expecting Some Profit Booking Near 52 Week high of 11750 in this Week or maybe Next Week.11750 is strong resistance which would be difficult to cross as no fundamental trigger this week.Risk reward in Both trade is 1:2.Risk Only 1% of Your Capital.
Nifty Spot closed at 11456 and Nifty futures at 11478 A fall of 460 points was witnessed in Dow on Friday, Dow futures closed at -474 SGX Nifty closed -63 points at 11407, which is a rough indicative of the Nifty futures level. It loosely translates to Nifty spot at 11385-11395. Support for Nifty spot is at 11380 followed by a gap support at 11350. 11350-11380...
Negative Divergence seen in Nifty hourly chart. Possibly heading towards 10985 zone, where a gap fill is pending and is also a good support zone.