Nifty future daily chart is opening another solid selling opportunity, on nifty future chart we see a declining trend line is acting as resistance for price action. Moreover 200 SMA is around 5190 level hence making that resistance level much stronger, Nifty 5200 call option has highest open interest, hints 5200 level a resistance for now. So we have 3 confirmations for this trade, first declining ... [Continue Reading]
Nifty Future May Find Resistance at 4800 level January Series, Short Sell Near 4800 Level
Nifty future is in Downtrend and so traders should only look for selling opportunities on every bounce. On charts we have seen that Nifty future has some resistance near 4800 level, as 23.6% Fibonacci retracement level and 200 Days moving Average coincide near 4800 level. So any pull back towards 4800 level must be taken as opportunity to short selling Nifty future of January series. Targets for ... [Continue Reading]
Nifty Future Major Resistance at 5000 level, Short Selling opportunity in Nifty Futures December Series
An increase in US Dollar liquidity by group of major Central Banks, has given very good surprise by reducing over night swap rates of USD by 50 bps. This has led all the stock markets across the globe bounce, and was responsible for this risk aversion rally in all risky assets. We are of view that this rally is short lived and bears will return in control very soon. Yesterday there were many ... [Continue Reading]
M&M is Supported by a Rising Trendline, Support Seen at 681 Level, Buy M&M
M&M is one of our best performing stock in even bad markets. Today after strong selling in nifty futures we have seen this stock testing its support of 681 level which is a rising trend line support. The stock has earlier taken 5 times support at this rising trend line so we believe this time stock will again bounce after testing this support level. Hence we recommend traders to Buy M&M ... [Continue Reading]
Nifty Futures Has Near Term Support at 5160 level, Trade Long in Nifty Futures Near 5170 level
Last two weeks for Nifty futures were good as it peaked at 5400 level, but as we know that markets are still in downtrend so we have seen selling coming at higher levels. Today Nifty futures approached its strong support of 5170 (earlier strong resistance) level. So we are of the view that bounce must be ahead and some small consolidation in today's session must be seen, so traders can take and ... [Continue Reading]
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