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]
Wipro Has Strong Resistance at 411 Level, Go Short on Wipro December Future
Wipro after very good bounce in last few days trading session, has now entered its resistance zone which is confirmed by 100 EMA (Exponential moving average) and 23.6% Fibonacci retracement level. So this level (411 level) can act as very strong resistance for this stock and we may see the stock to move lower towards 400 and then 395 levels. Traders can take advantage of this move by going short ... [Continue Reading]
Consolidation Expected in Nifty Futures Next week, Range Trading Strategy for October Series, Markets are still in Downtrend
Nifty futures had tested its previous bottom of 4720 level but this time the markets were unable to break below that level and just after touching 4725 level we have seen a bounce back towards 4900 level. Even global markets were looking supportive last week, as there were lots of positive surprises coming from European Central Bank (ECB) and US Unemployment data that was released last Friday. ECB ... [Continue Reading]
Nifty Futures Has Strong Resistance at 5200 level, Next Week Trading Advice is Short Sell Nifty Futures at 5200 level
Nifty futures has consolidated through this week we have seen the range for this week in nifty future was 4900 to 5166. We would initiate short positions in nifty futures at 5200 levels for downside trading targets as 5000 and then 4949 levels. Nifty has earlier faced strong resistance at 5200 zone so this can be very good opportunity to go short in nifty futures. We are confident that nifty ... [Continue Reading]
Unwinding Short Positions and Fresh Long Build up seen, Nifty Futures Traded Above the 4960 Level, Target for Next Week Must be now 5166 Level for September Series, Trend Still Remains Down
It was the pullback rally that we have seen last week, Nifty Futures has recovered from 4718 level to close near 5040 level, so this is about 300 points short covering rally. Nifty futures open interest data suggests us that last week short unwinding was seen and also there was long build up seen in open interest. So this pull back rally may continue till we see 5160 level of past. This level is ... [Continue Reading]
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