Emotional selling prevailed during the Tuesday’s trading session intensifying in the last 1 hour of the trading session. Emotions are running high among the traders as intraday volatility in the market is at the extreme. Immediate resistance comes around 11342. Price opening higher and sustaining higher brings a potential trend reversal towards 11400 levels.
Nifty Futures – Topsy-Turvy Mode
Nifty Futures on Monday opened tumbled below the support zone 11490-11510 levels and erased all the Friday gains by EOD. Friday Short-term Momentum Buyers were followed by Monday Short-term Momentum Sellers. India VIX is back above 14 handle with 11500CE, 11600CE & 11800CE writers in control so far. Downside pressure resume back posts Monday’s price action.
Nifty Futures : Momentum Traders are Back in the Game
Nifty futures bounced higher with short-term momentum players in control on Friday evening. Short term momentum play is witnessed at Friday low and 2 day high where momentum traders piled up at key reference levels 11464 and 11503. Immediate support zone comes around 11503 levels.
Nifty Futures – September Futures – Intraday Volatility Continues
Nifty Futures intraday volatility improved much better with trendy modes coming with wild swings thereby, keeping traders in busy mode throughout the day. Daily ATR levels improvised to 116.66 levels. Tuesday’s price action showed a downward spike with extreme sentiment followed by Wednesday’s price action with a counter-trend rally in the second half of trading.
Nifty Futures – Trading Remains Range Bound – September Expiry
It is a volatile Thursday where Nifty futures traded in a sideways mode with increased volatility and wild swings and price manage to close around support zone 11545. Trading sentiment remain marginally elevated on the higher side with quick-flip strategy changed to positive mode around 2.20p.m.
Nifty Futures – Negative Sentiment Further Extends – September Expiry
Nifty Futures further extended the negative sentiment on Wednesday trading session tested an intraday low of 11437 followed by a sharp recovery. Yet another day momentum sellers controlled the day. Immediate quick flip support zones come around 11455 levels. Totally an emotional trading day witnessed among buyers and sellers.
Nifty Futures – Downtrend Sentiment Continues – September Expiry
Nifty futures Mondays weakness spilled into Tuesday’s session as well. Call writers at 11800 are stable for this series. Nifty managed to break and close down below previous week low 11613. Nifty Futures maintains positional sell mode with Immediate Quick Flip supports coming around 11573 – 11585 levels. Price holding above the support zone could bring a possible range bound action between 11573 – 11658 levels. However, momentum traders could step if price started accepting below 11573 levels.
Deeper Cuts in Nifty Futures – September Series
Nifty Futures Monday opened with higher but with low enthusiasm despite good GDP numbers on last Friday evening. Quick Flip indicator turned to sell mode around 2.45 after price started sustaining below 11713 levels. Interestingly day topped out in the first minute of the trading with clearly momentum sellers pushing the price downside for the last two trading sessions showing sign of positional weakness.
Nifty Futures – September Expiry Technical Analysis
Nifty Futures continues to survive minor negative waves. The immediate short-term trend is positive with supports coming in 11713-11720 range. Global Markets sentiment ended moderately positive except the European indices on last Friday. Key economic indicator India Q1 GDP growth soars to a 9-quarter high of 8.2% Vs 7.7 Quarter-on-Quarter basis. This is the highest growth in two years and strongest since the first quarter of 2016.
Nifty September Expiry Begins with Volatility
Nifty Futures September expiry kick-started with high volatility. Short term quick flip signals turned positive with immediate supports coming around 11655 levels. Price holding above 11715 levels will bring renewed buying pressure. Price holding above 11715 levels has to be watched on the closing basis
Nifty Futures – Resistance built around 11727
Nifty cooled down a bit from the extreme bullish sentiment on wednesday trading which also closed the tuesday gap. Last 30min sell-off turned Nifty to a late spike on the downward. That triggered a sell mode in quick flip strategy with immediate resistance comes around 11727 levels. In a short term 11712 – 11727 needs to be monitored for the continuation of sell signal. As long as price stays below 11727 sell mode holds Nifty Futures.
Nifty Futures Short Term Supports around 11690 levels
Nifty Futures On Wednesday trading session opened with good Buyers confidence however profit booking started happening post the first 10minutes of trading activity. Trading range was dull most part of the day except the late buyer’s show off in the last 30min. Overall previous days Extreme bullish confidence maintained for the day.
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