bought 5.7 K contract of Index Future worth 232 cores, 8.5 K Long
contract were added and 2.7 K short contracts were added by FII's. Net
Open Interest increased by 11.2 K contract , so FII added both long
and short in index futures.
Nifty has as expected
volatile day , but as per Gann Box it continued trading in Yellow and
Green line suggesting range bound volatile move. 7921/7911 have become
an important demand zone and on upside 8030/8060 range have become the
supply zone, closing above or below this range can quickly give a move
on 100+ point. We have 3 trading holidays so try to avoid ...
bought 2.4 K contract of Index Future worth 99 cores, 6.3 K Long
contract were squared off and 8.7 K short contracts were squared off by
FII's. Net Open Interest decreased by 15 K contract , so FII squared
off both longs and shorts in Index futures also shorts were added
almost in 1:1.8 ratio.
Nifty consolidated today after 3
of big range moves,formed an inside day pattern signalling market is
ready for big move tomorrow after RBI policy is announced ,We have
Monthly closing tomorrow bulls would like to see a close above 8000.
8088/7909 are 2 numbers should be watched tomorrow. EW analysis is shown below.Nifty Future premium came down before
Last week we gave Nifty Chopad level of 8100 and
Nifty did 3 target on downside rewarding trend followers by 179 points,
Coming week has only 3 trading days so trading will be limited, S&P
upgrade was a big positive for India and Our PM meeting Obama will be
keenly watched by market so market will trend to be volatile in next 3
trading session, If your capital is small better avoid trading for next 3
Nifty Hourly Chart
Hourly charts made a V shaped recovery from channel bottom now facing
resistance in zone of 7990-8020 range which is 21/34 ema confluene,
Closing above it only can see an upmove till new highs.Move will be
volatile in small trading range.
Nifty Hourly Elliot Wave Chart
Hourly EW is showing correction is over and rise can be seen till 8110 odd levels.
Nifty Price Channel
per Price Channel concept Nifty is entering in zone of
Market has been Topsy turfy in past 4 trading session and we have a
long trading weekend coming ahead which should be used by traders in
productive manner to improve trading, Let me discuss a real life
incident of my student how he was afraid of trading and how after going
through the training he transformed himself in a profitable trader.The same story repeats with many traders and hope the example described below can help you in improving your trading.
new Trading day has started and Rahul was ready to trade, As market
opened Rahul can see his trade set up giving a Buy Signal but
Hesitation gripped Rahul’s tensed hand. He couldn’t decide when to
enter this trade. His trading plan said he had really gone past the
entry point he should have taken. But he had hesitated – what if he was
wrong? He decided to wait and track it just a little longer – just to be
safe. This was the story of his trading life – waiting on the sideline
frozen by his fear of uncertainty. “If I stay on the sideline, I’ll be safe,” he consoled himself. He watched the price go higher and higher. Still he hesitated.
as he hesitated on the sideline pondering this trade, Rahul also began
to fear he was missing out on a profitable trade – he wanted in. He felt
the urgency build. “Just a little more proof”, his tentative side
whispered in his ear. “Get in this trade before it’s too late!” urged
another impulse, “Sitting on the sideline isn’t getting you...