Find the Trend of Nifty Future Using Daily Chart Technical Analysis

by Bhaveek Patel · 0 comments

in Technical Analysis

Trend is very useful friend of trader, if spotted correctly. In my trading experience trading in the direction of daily trend can make you profitable trader over a period of time. On daily chart you can easily find trend just by simple observation; you will need EOD chart for nifty future. Once you have chart handy, we need to apply a 200 SMA (simple moving average) on it. Carefully look price action, if price action is above the moving average we say trend is bullish. Now if this price action is below 200SMA we say nifty future trend is bearish. Other thing you can do is apply RSI to same chart, just change the time frame to weekly, if RSI has reading above 50 we conclude nifty future is bullish and on reading below 50 hints bearish trend.

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