Nifty

Nifty future closes below the rising trendline, Trading Idea

by Bhaveek Patel · 0 comments

in Nifty

Yesterday due to global selling, our markets was on the way of selling as well. We Have seen Nifty future for the first time on daily chart has broken below the trend line which has been acting as support from the month of June. So I am expecting some selling in the markets, as being a technical reason. Even Indian rupee has depreciated against USD and reached 54 mark again. Situation after flop 2G auction is that government will find it very difficult to meet the deficit target of 5.3%, hence another possibility of slow GDP growth in coming quarters. Precious metals like gold and silver may turn bullish as inflation in US economy has risen and also we are near to the festive and holidays season in December, where high personal (Consumer) spending is most likely to further ignite inflation. Traders and investors always buy Gold for its inflation hedge capabilities, hence I am bullish on gold and silver in short term.

Nifty future chart analysis

Nifty future trading Idea for next week: I will be selling short on Nifty future below 5540 for positional target of 5430 and stop loss placed few points above 5600 level. Also I will be flipping my position to go long on nifty future around 5425 level for a target of 5495 level with stop loss few points below 5400 zone. Article published on 17 November 2012.

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What is Nifty Future and How to trade it with Trend tool

by Bhaveek Patel

Beginners who see markets on TV often ask me what is nifty future and how it is traded, what are the benefits of it, how to find out the trend. Here are the answers to some of your queries. What is Nifty future? Before I focus on Nifty future what actually the Nifty index is, So Nifty index is a container of 50 chosen stock (based on NSE’s criteria). In other words, 50 large cap .....

Nifty future range trading strategy: Trade Support and resistance

by Bhaveek Patel

Here is short term range trading strategy for nifty future, hourly chart suggest levels of support resistance for short term: Strong support can be found at 5640 level, where as strong resistance 5720 level for nifty spot. So, one can buy nifty around 5640 level for target of 5700 and one can short nifty at 5720 for target as 5670 level. Stop loss will be, exit when nifty breaks out of this range. We cannot .....

Nifty future near term support at 5630 level, Buy on Dips

by Bhaveek Patel

Nifty future corrected from 5825 level and have been correcting for last 3 days. But still chart suggests, the trend is bullish and so we will still be on the long side of trade. Recent development has lead the risk-on rally in the global market, I believe this will be strengthening further as this is only a temporary pullback in an uptrend, which should be treated as an opportunity to buy into nifty future. I .....

Nifty Future has resistance at 5640 level, Short sell Nifty

by Bhaveek Patel

Nifty future traded higher last week, as it went from 5230 to 5645. But on daily chart level of 5640 is a resistance, and I believe it will hold nifty future sometime here before next up-move is seen. So I am going against the trend this time to play support resistance trade on nifty future, I would be looking to go short on nifty future around 5615 level, for targets as 5555 and then 5525. .....

Buy Nifty future, Slow Stochastic gave Crossover on Daily chart

by Bhaveek Patel

Nifty future has opened with gap on Friday’s trading session, I have been bullish on Nifty and bank nifty from last 2 – 3 months, yet this is another confirmation for us to be on long side only. As looking into the chart of NSE’s Nifty I found a crossover on slow stochastic indicator and this crossover is for bull traders to take long positions. Trading strategy one must follow is to buy into nifty .....