BankNifty seems to have finally broken the steep trendline ( terrific trade that was) This calls for a potential test of the retracements or upto 18500 zones or so with the top today as a low risk stoploss
Coming back to the scrips which we keep close to our hearts - Yep, Nifty's.... We have bullish bat pattern formation which is currently in C to D move, so once the move gets completed at D point we can Initiate long positions in Nifty. The other blue lines going around chart are the idea posted on higher timeframe(4h) lastweek.. that idea is still valid. But here...
NIFTY has continued the strong upmove and continued to sustain above key levels. On an immediate basis NIFTY has a key level at 8560 spot.Until it sustains above it the upmove looks intact for 8670 spot. On the downside any move below 8560 can give a good contrarian short opportunity to test 8450 odd levels. Lot of key events which can make the markets...
EMA - 20-50-100 very narrow and taking Bounce back in LONG trend RSI - almost reversed from over sold price MACD - BULLISH Crossover and below 0.00 means having 15% scope in upward direction. it can be really good buy.
EMA - 20-50-100 will come in sequence as 20 is crossing 50 price will take support of 5/6 RSI - enough space available to move upwards so 8-10% movement possible MACD - BULLISH crossover just above 0.00 means atleast 5-7% movement is possible in LONG Direction
EMA - 20-50-100 narrow gap between all EMA's RSI - good space for upward movement MACD - below 0 and BULLISH cross over and we can expect upt 8-10% movement in LONG direction.
EMA - 50 Crossed 100 that means price will take support of 20 EMA i.e. future buy expected between 313-316 RSI - enough upward space for 5% movement upwards MACD - is above 0.00 and BULLISH we can expect less i.e. alteast 5% upward movement confirmed otherwise we would have expected 15% movement it this cross over would have happened below 0.00
EMA 20,50,100 - Narrow gap between all EMA RSI - in Range and good scope for price to move upwards MACD - BULL Cross Over
RSI below 70 MACD CROSS OVER EMA 20,50,100 Crossed and Inline
NIFTY Futures managed a sharp pull back after touching the support zones of 8340 odd levels. On the upside targets now remain at 8520 odd levels. Today's Gap low can be an immediate support below it this can be considered for gap filling. Swing upsides now emerge at 8650 odd levels with base continuing to be at 8350
Pfc has broken out of it's trading range with huge volumes and continued buying interest. Similar story with REC
Shorting auro pharma near 790 level gives a great entry and good risk to reward
Market Bytes 04-Jul-2016 Nifty futures: NIFTY futures continues the upmove with another gap up. For the upmove to sustain its important that NIFTY future sustains above 8340-50 zones. Upside swing targets now emerge at 8500-20 levels. In case it breakes below 8340 its back to a range bound. Interesting price action for last week. It was a week where almost all...
Looks good for a target of 295-297
Will look to enter a long position depending on price action
DUE TO GLOBAL MARKET CORRECTIVE UPSIDE, OUR MARKET ALSO RESPOND TO THAT. AS I SAID LAST WEEK NIFTY FELL TO 7835, I AM STILL EXPECTING THAT LEVEL TO COMPLETE THE WAVE STRUCTURE. WAIT FOR THOSE LEVELS AND ENTER LONG. NOW I AM ENTERED PUT OPTION @ 8000 FOR NEXT TWO WEEKS.