Nifty

Intraday Trading Pick: Short Sell Tatasteel, Nifty Future near support

by Bhaveek Patel · 0 comments

in Nifty

Today’s intraday trading pick is on tata steel stock, which is already trading weak, down by about 2.4%. I would suggest intraday traders to short sell tatasteel around 396 for targets as 390 and then 387, while placing targets for this trade around 398 zone. Global demand for steel has seen a bit of slowdown as euro-zone crisis has emerged again and spoiling the risk rally again this year. Today most of the global markets were trading in red, Hang Seng, Nikkie, straits all Asian peers were trading with heavy losses in afternoon trade.

 

Where will Nifty Future move:

 

Being specific to index future, I see nifty future is trading at an important support level and may see some pullback in nifty future before a new side leg opens. All the short sellers in nifty future be ready to take profit off the table on short trades. However I will not speculate on to trade this pullback, but yes every bounce is now a opportunity to short sell nifty future. Become market expert by learning technical analysis.

{ 0 comments }

Time to Buy Bank Nifty, Technical Bounce in few Sessions

by Bhaveek Patel

Bank nifty future broke below 9000 level on may futures contract, but as I switch to charts I see 9000 level is 61.8% Fibonacci support level on daily charts and so I am waiting for execution of long positions in BankNifty future around 8980 – 9000 range for positional targets as 9325 and then 9400 levels, with placing stop losses just under 8925 level on 2 days closing basis. Check below chart of Banknifty for .....

Buy Nifty future for intraday, Positive Divergence on 1 Hour chart

by Bhaveek Patel

Nifty future today was trading positive with about 20 points gain compared to previous close. On Hourly chart, I saw positive divergence being formed and in am waiting for bounce in next few candles. As soon as Euro Zone GDP data was released this trade became valid from global market front, euro zone has posted GDP growth at 0%, at least better than contraction (negative growth). So my intraday strategy will be buy nifty future .....

Find Nifty Future Trend in Real time Online, Free Service

by Bhaveek Patel

If you have noticed, I was unable to update you with my articles in last few days. Its because I was working on nifty future trend finding script, that can help you to find whether trend is up or down. This tool is again available for free you need to open the page as shown below.     or use this Application link here. If you like this unique feature then do share it with .....

Intraday trade: Buy Nifty Future May Series, Fibonacci Support Zone

by Bhaveek Patel

Nifty future has just breached the 4955 level, this level is very special because on daily chart its 61.8% level for 20-12-2011 low to 31-2-2012 high. Also 23.6% retracement of 7-11-2010 high to 20-12-2011 low is at 4955 level, so two Fibonacci retracement levels of different period are coinciding on same level, so I am expecting some bounce around 4955 level with a target of 4985 and then 5000 mark. If today this level (4950 level) .....

Nifty future has added short positions today, Still Confusing me

by Bhaveek Patel

Nifty future has ended today’s session much lower, closed down by more than 2%, even Sensex lost about 300 points. This fall was led by IT stocks mainly TCS and INFY, from automobiles space Tata motors was the worst performer. Today Reliance ind has lost its crown as most influential stock in Sensex to ITC, due to poor performance in last few trading sessions.   Nifty futures for near term: Focus on Nifty futures, today .....