Nifty Futures Trading

[Sunil]

Deja vu... given the flatest of closings in Fut

Day starts again with 2790 in mainframe...(coincidentally, 2784 is the "classical" pivot for today)
Below 2790, bulls need 2770-62 to hold, else an immediate retest of the upper line of yesterday's rectangular ranged trade ie 2742-37
Bears need to break this 2742-37 for a retest of yesterday's LOD
LOD 2694 should IDEALLY not break so easily in its first attempt/retest today..
Below 2694 -> 2668 / 2654

if 2770-62 is held, then bulls need to take 2790 & then 2840
Above 2840-49, we can see 2870 & then 2900 area.

it seems there's hardwork for both, bulls & bears, today...

(PS: if spot closes is red today, then it will be a 5th day of consecutive negative closings..
only hitch is that FUT - which closed, though in red, but by just 0.40 points...
let's see the EOD result)

sorry guys.... had a very bad net connection today (initially it was TJ server)

good to see bears had luch break at the two levels indicated: 2668 & 2654

 

[columbus]

Some testing time for Nifty.Nifty gained on 6th day after 5 consecutive
losses ,atleast this year.Whether Nifty obeys this or violates this ,will be seen
tomorrow.

 

[praveen taneja]

chances are less as dow fut is now -145 and all eu mkt are red

 

[mahesh2007]

Some testing time for Nifty.Nifty never gained on 6th day after 5 consecutive
losses ,atleast this year.Whether Nifty obeys this or violates this ,will be seen
tomorrow.

i think u meant 'lost..

 

[nagendra_gb]

Have to rush now,some time later,plz excuse me to day,

Sir please explain when ever you are free.. really curious to know.. One thing wht i observed is you will start giving this support resistance after some time of market opening. What i have observed is exactly near to that support area buyers will increase dramatically and at resistance sellers will increase. you decide the resistance and support after seeing this ? just trying to learn ...

 

[columbus]

i think u meant 'lost..

You are correct.On 6th day, after 5 days of losing streak,Nifty always
GAINED ,atleast in this year.

 

[nagendra_gb]

Hopefully ... as of now EU and dow futures also recovering...

 

[Sunil]

immediate tug-of-war line between bulls & bears is 2694-97 level (BTW, 2704 is also the classical pivot for today)...

Initial upmove above 2715-19 can target & meet resistance at 2743 & 2756
Breakout above 2756 can target yesterday's HOD 2774

Initial support at 2671-69. Obviously, break of this level may call for retest of yesterday's LOD zone 2660-55
The key level bears will be looking to break is 2633 chartical level (also corresponds with last key 61.8% Retracement level of entire rise from 2250 lows)...



So, bulls ki izzat at 2633 level today
(remembering Asish Da, and using this term after a long time...)


let's see if, after 5days of negative closings, we have a green bar closing at EOD...
but as mentioned yesterday, only hitch is that of Nifty Fut... on monday, it closed with hardly any change (just -0.40 points)..
only in Jan 2008 was when we had seen 6days of continuous red/negative closings..
STATISTICS ARE MEANT ONLY FOR VISUALLY ENJOYING THE NUMBERS - NOT TO HAVE A TRADING/DIRECTIONAL BIAS

 

[sanamtrade]

Nifty will drift down to 2635 levels today, at the initial hour , and will recover afterwards, may be a +ve close .

 

[Sunil]

i like the 1st 5min bar...
as per script...
;-)