Nifty is moving in range of 6960 - 7280 . Nifty has already made triple bottom pattern on daily chart. stay long on nifty till above 6960 . further 7100 7190 7280 any break below 6960 then reverse the position and go short on nifty with the target of 6900 6869.
Market Bytes 15-Feb-2016 Nifty Futures:Friday we restated that we see a bottom at 6800-6830 levels against the tide of the trend. This proved so correct as NIFTY managed to hold on and make a low of 6875 to bounce back from there. Expect 6850-75 to be a bottom for now and this could be used for swing long trades.For intraday trades our immediate suport base can...
Trading Idea Nifty Futures: NIFTY Futures few sessions ago we had discussed that 7430 was the trend decider and above that 7550 was a possibility, that target nearly got done in yesterday's session, after that markets paused and went to crash and test our trend decider all over again. Both sides provided a decent trading opportunity in last few sessions. Next up...
Banknifty opened below the congestion zone range of 17880-17740. This provided the entry point for the short trade. Could only enter the trades around 17700 range. downside targets are about 17570 and 17440 levels. Rest can be trailed.
Nifty rallied to 8,200 on the back of surprise repo rate cut of 50bps by RBI. The rise from ~7,700 ro ~8,200 in 5 trading days seems tiring around 200DEMA (Daily Exponential Moving Average) which is at 8,184. Also the bearish AB=CD harmonic reversal pattern is visible on charts at the upper line of Andrew's Pitchfork tool. The failure to move above 8,270 can...
Risky to buy LIC Housing Finance at this time. Fibonacci clusters of resistance are appearing at the tip of the price travel. We need to watch the levels of 506/508 carefully before buying this stock. If it fails at any of these levels, we can expect a C wave to 380 levels.
LT has be going trough the correction after making a top around 1890. The ABC correction has been completed and I would expect the stock to move higher and make new highs now. However, as a conservative target of 1750 and stop loss just below the last low would give a risk reward ratio for 1:2.5. Happy Trading!!
The price is in Weekly/Daily ascending channel (green). Now, forming a falling wedge (bullish signal). The Fib C is at 61.8%, where price made bearish engulfing pattern to head south. D1 target is in line with 0% of AB swing and ascending price channel (8271), on break of this next target is D2 at 8040. However, I am expecting price to come at 8271 and then go...
Watchout USDINR in coming weeks, it is looking to go higher and a breakout will cause INR to move very swiftly !! And the effect of breakout will be on Nifty as FII would start to pull out from India !! Better strategy would be Long USDINR and Short Nifty
Nifty is trading in wave 5 of wave 5 - With Union Budget ahead and RBI rate cut expected soon, Nifty may rally till its upper trendline resistance !! Long Nifty for Targets of 9249 & 9403 -- Stop Loss of 8555