NIFTY INDEX TREND SETUP

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NIFTY INDEX TREND SETUP
-NIFTY WITNESS ONE OF THE WILDEST SWING THIS WEEK
-THE CRUCIAL PART THAT I AM EXPLAINING EVERONE IS THAT 9950 WAS NOT BREACH ON A WEEKLY CHART AS WELL ON DAILY
-THE SHORT COVERING RALLY IN THE INDEX PROVED TO BE VERY VITAL
-THIS INDICATES THE STRENGTH IN BUY ON DIPS MARKET
-20 AND 50 EMA WERE TESTED GAPS WERE CLOSED AND THE PRICES MOVED ON
-WHAT IT CONFIRMED ON A DAILY CHART IS A "FALSE BREAKOUT DOWN"
-200-EMA IS FALLING
-INDEX IS STALLING
-NIFTY CAN KEEP CRAWLING TOWARDS 10440(61.8%) ZONE

NIFTY TRADE SCENARIO
-WHENEVER THERE IS A FALSE BREAKOUT WE EXPECT FIRST THE OPPOSITE BOUND TO BE TESTED (10330)
-"BULLISH MARABUZO" CANDLESTICK PATTERN VISIBLE
-NIFTY HOLDS ON TO ITS SUPPORT OF 9950
-I KNOW SGX IS INDICATINGA NEGATIVE START BUT STILL NOT BROKENDOWN I EXPECT MARKET TO RECOVER ON MONDAY
-CRUCIAL TO REGAIN 10030 WHICH IS ALSO ONE OF MY CRUCIAL SUPPORT LEVEL AS WELL AS 100-EMA ZONE
-NEXT LEVELS TO BE TESTED
10130
10165
10220
10275
10330
-ON THE DOWNSIDE
9880
9830
9750
-WILL ALL ACT AS SUPPORT FOR THE MARKET

"WHAT IS CONFIRMED IS A VISIBLE RISING WEDGE PATTERN FOR NOW"
"INITALLY I THOUGHT IT MIGHT BE A BULLISH CHANNEL" (CHECK PREVIOUS CHARTS)
"BUY ON DIPS" RECOMMENDED
"MY VIEW IS CLEAR WE CAN BREAK OR TEST 10330"
トレード稼働中
NIFTY AS PER OUR VIEW MANAGED TO HOLD THE SUPPORT OF 9750 WHICH WAS THE LEVEL EXPECTED TO BE TESTED

WE SAW ONE MORE IMPORTANT CUE TODAY DURING THE DAY WAS THAT IN THE FIRST HOUR NIFTY FUTURES WAS TRADING AT A DISCOUNT OF 45 POINTS AND BY THE TIME MARKET CLOSED IT ENDED WITH A PREMIUM OF 4 POINTS

THIS INDICATES THE INDEX SHORT WERE BUILT FOR THE DAY AND EVENTUALLY WE SAW SHORT COVERING

NIFTY SHOULD NOW BREAK ABOVE 10000 AND SHOULD TRY TO TEST 10300 AGAIN ACCORDING TO ME

I HAVE POSITIONAL LONGS ADDED IN THE FUTURES OF NIFTY AND BANKNIFTY
I WILL EXIT LONGS IF MARKET NOW CROSSES BELOW 9750 AGAIN
トレード稼働中
THOUGH WE MANAGED TO CROSS 10030 TODAY WE WERE NOT ABLE TO HOLD THE MARKET.
THE MARKET AGAIN BOUNCED BACK SHARPLY AND MAANGED TO HOLD OUR SUPPORTS
NOW EACH TIME THE SUPPORT IS TESTED IT BECOMES WEAKER AND WEAKER
I WILL WAIT FOR THE MARKET TO BREAK BELOW 9750 TO BUILT SHORTS TILL THAT TIME I HAVE BOOKED MY PROFITS TODAY AT 9980 AND 20400 ON BANKNIFTY
NOW I WAIT FOR A BREAK ABOVE 10030 AND BREAK BELOW 9750 TO BUILT MY TRADES
トレード稼働中
NIFTY BULLISH CHANNEL TO BE TESTED TODAY


LONGS ADDED AFTER 9975 LOOK AT THE CHART IDEAS ABOVE
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