Nifty Futures Trading

[Sunil]

good break of neckline

 

[mitasatyajit]

Ashisda's magic level 4377 is support now.

 

[new2sm]

4386 is R1. it needs to be broken for R2

 

[Sunil]

RSI is quite high....
neck of Inv H&S broke at open, took support again at neckline & even broke R1 4380

now, seems to again comeback at neck support 4365-69 spot level
let's see...

 

[Sunil]

quite a unique situation after MANY days...

in such ranged trades on prev occasions, I used to think where to enter
today, i m thinking where to book out (& re-enter later at lower levels)

 

[Sunil]

well in doubt,,i think fisrt 4400,,then slide down letsee

a sposted we are still safe..4313

renu

this is quite possible, given the state of high RSI...

booked most of my longs from 70 at 90

 

[renu daga]

no sunil,,no situatin problem,,

just look few days back data on 5 min chart,,29 august,,

4330 to 4375 nifty travelled ,same signals again aperaing...

renu

 

[renu daga]

74...now,,,

renu

 

[Sunil]

multiple SPOT resistances above 4390:

4400 - stop of Short term downtrend since 12/8 (with LL LH pattern), also round figure psychological resistance

4415 - 20DMA (i refer only these two SMAs 20 & 50 - 50DMA provided expected support at 4200)

4425 - 50% FIB resistance

4448/50 - the peak I have my eye on, to confirm the negation of short term downtrend


Bears have set their mines!!!

(also note, tomorrow is market holiday - last hour would be interesting)

 

[renu daga]

covered shorts at 68

renu