NIFTY 50 future TRENDS-Part 2

[Smart_trade]

After breaking 5670 down, the intermediate trend of Nifty Futures has turned DOWN. Today's afternoon rally is a small uptrend in that intermediate downtrend. Till we cross 5685 on the upside, the intermediate trend is down.

Smart_trade

 

[SEVEN STAR]

Smart_trade ji..Thank u very much for sharing your views.

Closing price.5646

Today's NF RES/SUP
RES. 5662..5678
SUP.5643..5627.5609
Yesterday's low 5613..or 3rd sup 5609 breaks will see huge unwinding
Till it takes support around 5610 can hope for reversal on the up side.

 

[SEVEN STAR]

Smart_trade ji..Thank u very much for sharing your views.

Closing price.5646

Today's NF RES/SUP
RES. 5662..5678
SUP.5643..5627.5609
Yesterday's low 5613..or 3rd sup 5609 breaks will see huge unwinding
Till it takes support around 5610 can hope for reversal on the up side.

High 5678..Low 5627.. 50 Points from the low which was our 2nd sup and 5678 IInd res. hit .:thumb:

 

[Bewinner]

Smart_Trade,

Nifty closed @5676...which u will say now...still nifty is in downtrend or we are on the verge of another uptrend to begin?

 

[SEVEN STAR]

Yesterday's close 5676 and today's high 5726 = 50 points done in gap up
Sup..5700
Res. 5735

 

[Smart_trade]

Smart_Trade,

Nifty closed @5676...which u will say now...still nifty is in downtrend or we are on the verge of another uptrend to begin?

Nifty is in a larger uptrend and it was in intermediate sideways till last week.....the credit policy day it broke down the sideways trend . Now it is back in the sideways zone again.

In coming week Nifty Future has to cross a strong resistance at 5773-5775 where it had failed to take it out twice in past.If that is takenout, then it has a good chance of resuming its larger uptrend, else it will be moving in the sideways band for some more time before developing any further trend.

Smart_trade

 

[prabhsingh]

ST,

Many analyst are talking about 5725 levels which if broken then buying momentum will come heavily into the markets.Are you aware what is 5725 levels?Is it any fibonic retrachment levels or any higher pivots?

 

[Smart_trade]

ST,

Many analyst are talking about 5725 levels which if broken then buying momentum will come heavily into the markets.Are you aware what is 5725 levels?Is it any fibonic retrachment levels or any higher pivots?

If you are talking about Nifty Futures levels, 5725 is the high of the day on which the market broke down from its sideways zone ( RBI Credit policy day ). That was a resistance level, but the market took it out and closed above that level on Friday.

If you are talking about Nifty level, then it is equivalent to 5740-50 level in Nifty Futures. This is a TDST resistance level of Oct Nifty contract and it will give some resistance to Nifty Futures on its way up.

Smart_trade

 

[Rish]

Anything closes above 5823 (closing basis), trend may continue upward.

Now, any upmove sell and buy, keep s/l 5823 closing basis.

 

[SEVEN STAR]

Intra day NF present range....5730-5740
Sup..5719..5700
Res.5735..5757