Double bottom pattern is just opposite of double top pattern that we have discussed previously. This pattern is very easy to trade and learn how the market forces will be changing the direction of stock at some level. In technical analysis, this pattern offers higher chances of success if trader picks the trade with this pattern. A trader can freely apply and trade this pattern on any time frame ... [Continue Reading]
Nifty future trade for Monday, Buy Nifty on dips
Last Friday we saw major data released in India, it was GDP data. This data release was below market expectation and as a result we saw panic selling in their markets on last Friday. Last Friday Nifty future lost about 1% and closed negative, on Monday I expect nifty to open negative. Trading strategy will be buy on dips, as I have been bullish for some time and still remain bullish. My buying ... [Continue Reading]
Rollover Long position in Nifty future this F&O expiry
Nifty future is in a bull market, as today is F&O expiry of June series. We are of the view that traders being long on Nifty future in the June series should rollover their position to July series. For long positions in Nifty I am expecting short term target of 5230 and then 5290 level. For Medium term (July series) I am seeing 5360 and then 5400 on daily chart of Nifty future. However I see ... [Continue Reading]
Nifty future bullish for Medium term, Correction is a Gift
Watching the weekly chart of nifty future I came up with a conclusion that nifty future is in up trend for medium term. Every pullback or correction that we see must be solid trading opportunity for going long (Buying) on nifty future. Traders can take the help of indicators like slow stochastic to enter the trades, i.e time their long entries on nifty future. Here is daily chart of ... [Continue Reading]
NSE Defty is Trading near Support, Bounce in Nifty Future Likely
NSE Defty index (Dollar weighted index for NSE Nifty, so here nifty is moving lower as well as INR (Indian Rupee) is moving lower hence the portfolios of foreign investors (FII) are suffering much loss then Indian investors, as most of the foreign players use NSE Defty as their benchmark index for performance. Today I am seeing that NSE Defty has been near its support zone of 2960-2980 I am ... [Continue Reading]
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