Bank nifty future on last Friday has closed at a important decision level which will give a trading idea for next week. Last Fridays closing was a very important as we have seen a very negative candle closing around the days low. Also Bank Nifty future has underperformed Nifty future as we were expecting. The crucial area on daily chart for bank nifty is 12000, from where we will see some bounce ... [Continue Reading]
Nifty future Intraday trading Analysis for July Series
Nifty Future has been in negative mood after making a top around 5370 level. Now nifty future has reached its psychological support level of 5100, I am of the view that Nifty future will take support at this level as yesterdays closing has formed a Doji candle which is considered as a sign of reversal, as nifty future is trading around its support zone and Doji candle forming there is better idea ... [Continue Reading]
Has Nifty Future Really Formed a Bottom for Long term
Nifty future has bounced after the correction, hence forming an intermediate bottom, in such case traders need not look at technical analysis. Fundamental analysis will give you with a much clearer picture, currently inflation has come under the comfort zone of government, IIP data is also quite ok now we have seen positive numbers there, RBI has started to infuse more liquidity by reducing CRR in ... [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]