IIP data has been released today; we have been surprised by the data that was announced. We have seen contraction in industrial production for previous month. Market’s reaction was also in form of huge selling in stock like L&T, BHEL, SBIN, ICICI Bank, Reliance, Tata Steel, Tata Motors and many others, hence pulling nifty future to make new 52 week low. If we look at nifty future then there we ... [Continue Reading]
Nifty Future Breaks the Range, Long Positions Entered on Nifty
If you look at previous range then it was 5200 and 5400, on breaking above 5400 our immediate upside target will be 5600 level. Long positions were added on breaking and successfully closing above 5400 resistance. We were optimistic this time as momentum continued and increased liquidity is returning into equity markets, moreover technical traders are also bullish as nifty future has managed to ... [Continue Reading]
Nifty Future will Change its Trend only if it closes Above 5400 level
Nifty future have rallied from 4550 to 5350 level this 800 point bounce is still of doubt for us, on charts nifty future will change its trend only on closing above 5400 for at least 2 days. Then only we will look for buying opportunities, as this down trend will change into uptrend on breaking and closing above 5400 level. We have also seen a trend line on weekly chart acting as resistance, so ... [Continue Reading]
Medium Term Important Level in Nifty Future to Patiently Watch
Nifty future at 5400 level is a wait and watch kind of game, as it is important level for medium term. Markets may pause for few days before giving exact move, so in this scenario traders must patiently wait and watch. However I would suggest traders to be stock specific at this point, they may buy some of defensive counters like ITC, Sunpharma, Hindunilvr. Traders having positions in F&O ... [Continue Reading]
Nifty Future has Downside Target of 5200 in Medium Term Trading
A new uptrend already has started in nifty future and now strategy for nifty future traders is to look for buying signals on slow stochastic indicator. Markets have extended their early gains and now traders are waiting for a correction to re-enter market. This correction is being predicted by traders across country, now only we can wait and watch nifty future for now, or just buy some small ... [Continue Reading]
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