When we say consolidation we mean market trading in a range, range is known as support resistance in this case. When nifty future is in consolidation period, most of the traders plot support level at bottom of price and resistance to top of price action. Now trading idea is to short sell nifty future when it reaches resistance line, buy nifty future when support level is being tested. This is ... [Continue Reading]
Bank Nifty Future Trading Strategy in Downtrend, Which Banking Stocks to Track
Bank nifty future is also another index future traded with huge liquidity on NSE, on daily charts we see bank nifty is in downtrend, hence trading in the direction of daily trend we will look for selling opportunities using slow stochastic indicator. Here I will discuss a trading strategy that can be used for bank nifty future in a downtrend; I always look for a pullback in opposite direction to ... [Continue Reading]
Short Term Strategy: Gold Trading near its Strong Support, Buy Gold Above 1694, Target 1746
The strength in USD was responsible for huge selling in Gold, as the dollar index was seen above 77 level today. So not only Gold but also Silver and Crude were hit by this USD strength. We see that Gold is trading near its strong support zone of 1694 level so traders can accumulate gold at this level for short term targets as 1746 and then 1777 levels. Demand for this yellow metal is still ... [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 Options Stratregy for F&O Expiry of September Series, Buy Nifty 4900 Put near 26 Level
Upside for this F&O Expiry in Nifty futures is capped at 5000 level, as nifty call options has highest open interest in 5000 strike. Hence upside in nifty futures is limited to 5000 levels at this point of time. So we would suggest traders to take short positions in nifty futures near 4978 level for targets as 4900 and then 4858 zone. Traders must keep stop loss just above 5020 level for this ... [Continue Reading]
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