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 ... [Continue Reading]
Nifty Future Chart Analysis this Week, Short Covering Ahead
Nifty future is best analysed by using combination of daily and weekly chart, charts are telling us that short covering rally is wait. Nifty future is trading near 100EMA (exponential moving average) on weekly chart, while on daily chart 50EMA is acting as support and will be region where we expect short covering to start. This week seems to be vital for adding long positions, traders who have ... [Continue Reading]