Nifty - Trade Intraday

[paras_123]

sell only if it is cut by volume.

else expect a pull back towards 5222 levels.

 

[paras_123]

5330-5383, range would be considered as a break out. 5206 holds a support or considered as a reversal value for trend.,,, on Bar Structure, we hold support at 5256 levels, for today. high possibility we close above 5350 and 5380, before we see a reversal. other indicators would be helpful to add to the logic to see a clear picture

 

[paras_123]

5406 holds a strong resistance for today.

 

[paras_123]

5360 could be a possible high for today.
if we trade above 5323 and 5332 levels. today is a volatile market would set a pace for trend to continue or to reverse at this point in time.
if we cut 5300, target - 5284, 5273 will remain in the picture......

 

[paras_123]

As with the root principle of finding 5323 was in place, similarly 5295 was a place of action, the VA was around 5300-5295, after we were struggling to break it up with volume, A reversal was expecting in a sideways market.
what we have seen till now is NR3 Structure,

we could expect a break out this Monday. Even Fibonacci Retracement Would work pretty well for entry and exit positions.

 

[paras_123]

I look for selling opportunity for today,
5375-5381 holds very strong resistance for today, High Possibility we would fall.
Selling should be initiated at 5335 levels, Target should be 5321 and 5308.
Upper side, buying would come above 5364 levels, but.... Strong resistance on upside

 

[paras_123]

What has happened today in NIFTY?
Today was a news driven market instead of Technical driven.

Volatile market. My Sl hit at 5444 levels as selling was at 5335 levels.
further buying at 5364 with 5380 target. After which no positions were taken.

 

[paras_123]

There s huge possibility of Nifty going up further on positional basis. Reason is - reversal is at 5300. Market would be in range of 5480-5300.

Although History has shown that if Markets has to collapse, it would do it without any hesitance but at the same time. For a time being 5480 could be a target if we wont cut 5300.

" today till 12.3 or 1 o clock we would see sideways market. after which we may go up.
beyond 390 one could expect 400 and below 5369 one could expect 5360 in sideways market. "

sell here at 85 market would go and test 70 again with 93 as Sl Time 9.27

 

[paras_123]

5370 holds a support for today, Buying can be above 5400 levels for long positions. exit positions at buy price only if go long or below 87

 

[paras_123]

very slow market. Consolidate before makes a further move. 5370-5400.