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Nifty futures had done a interesting activity on the daily charts. If you observed the historical daily charts of nifty futures you would have noticed that in the last three months 8580 zone is whipsawed multiple times (12 trading sessions in last 4 months) and whenever price approaches 8580 price made a pullback and buying behavior happens.
Since 2012 Nifty Auto Sector had delivered phenomenal returns of more than 300x times Return on Investment. That shows the significant presence of longer time-frame participants who believed in the growth story and economics of the auto sector. Also sheer Outperformance when compared with benchmark index Nifty 50.
The RBI cut benchmark rates by 25 basis points (bps) on 4 October, bringing down the repo rate from 6.5% to 6.25% since then there is a significant underperformance in banknifty futures as compared with nifty futures. And this underperformance in banknifty futures is expected to continue in the upcoming trading sessions as every minor rallies in banknifty gets rejected at higher level and sellers stepping
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Any trader of foreign currencies likely understands the influence that both local and international politics have on currency values. Successful online forex trading involves following the changes and trends that are taking place across the globe, and making the right trades at opportune moments to capitalize on changes of currency values.
Interesting Development happening in Bank Nifty Futures on the daily charts. Bank Nifty Futures had broken the 15 days of consolidation movement with a strong breakout and also close below the bottom of the consolidation zone 18760. This post is to analyze whether the breakout is really strong or not. Market Sentiment is really negative and the last fridays sentiment continued on monday as well.
Lets understand the price movement of Nifty Future charts on 21st Sep 2016 and lets try to understand how the liquidity hunt happened. Nifty Futures opened within previous days range and started moving up unidirectional in the first 90min which also broken 2 day high followed by sideways action till 12:45p.m. The sideways action is followed by a sharp selloff in the noon session triggering huge volume at the bottom.