Bank Nifty is currently trading at the swing extreme with 10-day ADX holding above 40 levels which indicates extreme positive sentiment with mean reversion odds If ADX value likely to start sliding below 40.
November series is thus far a dull series with reduced volatility and interestingly price started trading in a range between 11800-12050 levels since 30th Oct 2019.
Last two weeks the major theme in the markets is Crazy volatile swings. Crazy intraday swings in the market would make trading complex for most of the traders during those days.
Trading money is a webinar on how to build context using market profile and orderflow and how to use to those context to understand how other market participants are positioned and how one can use those information to prepare for the upcoming trading days in Nifty Futures and what one can expect from the market generated information.
Indian Finance Minister Nirmala Sitharaman announces corporation tax rate cuts and slashed to 22% (effective rate 25.17% including cess and surcharge) and that’s the Internation news, probably the most favorite talk among the media, traders, investors, promoters and almost every market participants this weekend.
The current sideways markets running in Nifty Futures is almost 48 days old. And consolidated between 10800 – 11145 levels most of the time.
Whipsaws are quite common in a nontrending market especially when the competition is poor from both buyers and sellers. This usually happens when only trading money competes rather than a strong investing money.
Extreme negative sentiment is witnessed around the closing of Tuesday’s session. Nifty Futures is down by -2.3% with a late emotional sell-off.
Nifty Futures went into sideways mode for the last 5 trading weeks in a high volatile fashion between 10800-11200 majority of the time and been sliding down continuously for the 9 trading weeks Since the Budget announcement.
Nifty Futures opened gap down on Friday morning trading session and went initially lower followed by the counter trend reversal of almost 225 points from the fresh swing low.
Nifty Futures made a one-sided journey from 12000 levels to 10800 levels during July -August series. A day before RBI Policy announcement there is a marginal bounce from the lows when the entire global markets are bleeding on the trade war news sentiment.
Nifty Futures closed the long pending Island gap reversal this week. Nifty also managed to recover marginally from the lows made but not completely out of the woods yet and continuously facing selling pressure near 11600 levels. Last Friday’s closing ended on a negative note with a sharp fall witnessed in the last hour of […]