Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Nifty Trading Near Major Resistance : Is the Party Over?

59 sec read

Nifty Spot Price : 4395
 
Here is the Chart for Nifty the tredline showing that we struck at major
long term resistance.Just see the trendline as shown in the picture

http://rajandran.googlepages.com/NiftyView.jpg
 
Upside is possible only if we are able to cross above 4444 which Looks like the Mantra as of Now.And if breaks then then Nifty can move upto the range 4680 and 4740.Market will turns if Nifty bearish if we falls and close below 4261 which is a 20-Day EMA line.
 
Investors are once again requested to remain cautious and try to have a close look on the markets for next few days.
 
Stay away from Banks, Infrastructure as of time being both the sector is not looking good.

One and only chance of recovery is Drastic decrease in Crude Oil.
But Right Now Crude is having buy signal so worry in shor term
if we close below the 20 Day EMA 4261. Any close below the 20 Day
EMA we are heading down.. Down

But Remeber One thing Still Nifty is in buy zone and can do any
sort of magic. Closing below 20 Day EMA is a worry

Till Then We are going to move in accordance with the global markets

 
Regards,
Rajandran R

Updated News :

Oil falls $4 after weak US spending report.
So Still Its Party Time in Nifty…

[b]More Updated Views before the market hours : [/b]US Dada Dow trading below 20 day Ema likely to form symmetric triangle pattern.

Any gap down opening is panic global alert. And recovery above 20 day Ema .. Rally in our markets what do you say?

Markets waiting for FED signal.

 

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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