Reverse head and shoulders pattern had depth of 1129 points to the head from base. This meant push of 1129 points from base to further up which comes up to 13297.
Nifty seems to have topped at that level and coincidentally that the level of resistance line Nifty has been following since Covid times.
Any closing below 13297 shall open Nifty up for fall to 12400...
Today's market was range bound due to expiry but but tomorrow we can see a trending market. I'm still positive on the market as this market rally is basically fii's buying and they bought 3500 Cr again today, the option chain has has slightly more put writing than call writing but basically the option chain data is inconclusive. All the world index's are hitting...
DXY is close to 91 levels which has been breached downside only once since Sept-17.
Must keep close watch on DXY closing below 91 which shall be early signs of continuing fund flow into emerging stock markets.
Any reversal from this level will strengthen bearish view on Nifty during last couple of weeks of December.
Looking at the option chain there's resistance at 13300 levels and sgx nifty futures showed decent levels of profits booking at 13200 levels and closed in the green .30% higher. Tomorrow can be a bit sideways but fii's might show some buying tomorrow aswell just like today's 3500 Cr net buying basically global cue are positive but every time resistance hits...
Dollar Index (DXY) is continuously taking Support at 92.00 levels in November and Nifty has consolidated around 12,800-13,000 during the same period.
It is the same levels from where DXY attracted investment and resulted in sharp correction in Nifty during September.
Just keep an eye out for DXY to retrace for shorting Nifty or to close below 91.70 to go long...
Nifty could hold on to the gains of today but couldn't seem to breach and hold previous Highs of 12960.
This could very well mean distribution at higher level for an impending fast correction. Especially when we are already seeing bank nifty getting weak.
Reliance and IT were main contributories to this movement but both the counters look to retreat and take...
Nifty trading around it's all time high but the reality is Indian Markets are ready to fall.I am expecting nifty to fall till 7000 level.Its time bond itano fall any time be careful my dear friends.This is just my view nothing personal.
Nifty has shrugg off covid blues and is back in its long term channel she has been following since Sept-18. 10-12% move in either direction is due now. I would incline to bearish movement because:
1 No news (positive/negative) expected
2. FTSE Rebalancing and effective pouring of FII money already factored into future data since Nov series beginning
SGX NIFTY show bullish trend in market and yesterday NIFTY close also above the support level so its good level to execute buy call
SL :- 11565
Note :- Do not go with my advice , study a trade !
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Nifty has formed a double top pattern and it is near to its previous swing low level of 11661, if this level is broken then we can see some down side movements with supprt from fibonacci levels at 11551 & 11406
CALL AND ATTENTION GIVEN TO ALL GROUP MEMBERS
1. 15 TF TREND LINE WAS RESPECTED
2. IT BROKE THE TL ON 4 TH ATTEMPT
3. CONFIRMATION WAS GIVEN AFTER BREAKING DAY LOW AND RSI CONFIRMATION
4. EASY 300 POINTS GRABBED ON PUT OPTION