Nifty Futures Trading
- Thread starter uasish
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- Tags nifty futures nifty intraday trading
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Re: Time to Stick my Neck Out ,Nifty 7300
SUPPORTS
4140
4120/10 - The previous resistance band should provide support today. Breakdown will indicate initial weakness of bulls. But, if this does not break even in case of a gap down, it will signal the strength of bulls.
4100-4090 - The PIVOTAL level for today. Bears will be in complete dominance below this level. If, however, we have a small gap down, one can attempt a long here with SL below 4090.
Below 4090, nifty becomes weak and can test 4050 (S1) & 4030.
RESISTANCES
4165 - The initial peak, break of which would be a real spurt upwards
4200
4220-30 - The R1 band for today... It will be take some good bull hammering to break this wall today (as global conditions are not that much supporting)
4265
4300/20 - Besides being a psychological round figure resistance, on EOD charts this is THE previous LH, which needs to be broken to confirm intermediate uptrend. The upcoming results special figure... If Infosys & other biggies deliver decent returns & nifty holds on to 3850, then this is the level to look out for.
(If 3850 breaks before testing this level, then obviously some other level will take this rank)
As of now, asian markets are not that negative; average range -0.5% to -1%
After initial gap down, recovery is expected at above mentioned levels, provided no local negative news comes up.
Have a profitable trading day!
NIFTY SPOT LEVELS FOR TODAY'S TRADING
SUPPORTS
4140
4120/10 - The previous resistance band should provide support today. Breakdown will indicate initial weakness of bulls. But, if this does not break even in case of a gap down, it will signal the strength of bulls.
4100-4090 - The PIVOTAL level for today. Bears will be in complete dominance below this level. If, however, we have a small gap down, one can attempt a long here with SL below 4090.
Below 4090, nifty becomes weak and can test 4050 (S1) & 4030.
RESISTANCES
4165 - The initial peak, break of which would be a real spurt upwards
4200
4220-30 - The R1 band for today... It will be take some good bull hammering to break this wall today (as global conditions are not that much supporting)
4265
4300/20 - Besides being a psychological round figure resistance, on EOD charts this is THE previous LH, which needs to be broken to confirm intermediate uptrend. The upcoming results special figure... If Infosys & other biggies deliver decent returns & nifty holds on to 3850, then this is the level to look out for.
(If 3850 breaks before testing this level, then obviously some other level will take this rank)
As of now, asian markets are not that negative; average range -0.5% to -1%
After initial gap down, recovery is expected at above mentioned levels, provided no local negative news comes up.
Have a profitable trading day!
Re: Time to Stick my Neck Out ,Nifty 7300
Please start a new thread regarding market dynamics, so that members can take advantage of your knowledge.
Please explain your view point to the advantage of the members of this forum.
Please substantiate you claim in appropriate thread, so that the mangnitude of fall can be worked out.
Regards, citrus
Please start a new thread regarding market dynamics, so that members can take advantage of your knowledge.
Please explain your view point to the advantage of the members of this forum.
Please substantiate you claim in appropriate thread, so that the mangnitude of fall can be worked out.
Regards, citrus
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