Mohit Jhanji Trading in Stock Market Since 2006. Iam working as a Technical Analyst in Wealth Creator. Wealthcreator.co is a research firm. We have Been Serving The Traders Of Indian Stock Market, Commodity Market From Past Seven Years With Tailored Products To Meet The Needs Of The Individual Retail Trader, Brokers,Corporate & High Net Worth Individuals & NRI’s.

Nifty Future Weekly Observation 30-March-2015

1 min read

niftyweeklyreport
[wp_ad_camp_5]

 
As shared in our previous weekly report nifty future break down after the channel was broken and trend continued in favor of bears. The march series has been what the most bears had been waiting from so many months. A complete correction with added volume and deeper cuts with no respite for bulls at any levels. A cut of 358 points on spot was witnessed in March FnO Expiry week.

One by one every support was broken and all technical indicators which indicated a oversold market continued to remain in that zone but the selling pressure was not stopped. All small bounces were sold into and a selling climax indicated below 100 Dma happened on thursday trading session.

Nifty spot made the low of 8269.15 for the week. Daily charts for nifty are showing bears in full power and there is no decent short-term support till 8170 which is 200 DMA for markets and any meaningful bounce if happens this will be the sweet spot for many trend followers to enter.

below 8170 next strong supports are 8100-8050 spot. On upside the hurdle is at 8550 zone and a daily or weekly close above this level will be first sign of bulls coming back though this pullback further will have next series of resistance at 8600 and 8700 (trend line resistance) which can clearly be seen from the chart above.

Till nifty future do not sustain 8550 spot, the possibility of bears using rallies to short is higher. When in doubt stay out is the best possible option for traders who have no position yet in nifty future.

Note: We at wealthcreator trade nifty future & bank nifty positional, short-term on our given recommendations. leading upfront with our own funds. Interested traders can contact Email :[email protected]

Mohit Jhanji Trading in Stock Market Since 2006. Iam working as a Technical Analyst in Wealth Creator. Wealthcreator.co is a research firm. We have Been Serving The Traders Of Indian Stock Market, Commodity Market From Past Seven Years With Tailored Products To Meet The Needs Of The Individual Retail Trader, Brokers,Corporate & High Net Worth Individuals & NRI’s.

Nifty Short-Term Trend Turning Negative – Market Profile Update

The short-term trend for Nifty appears to be shifting towards the negative, encountering intermediate resistance in the range of 21920-21950. Additionally, a top-down analysis...
Rajandran R
1 min read

Nifty Futures – Short-Term Overview – Feb 2024 Futures

Nifty Futures is a short term is likely to test the G2 High reference level around 22200. Short Term Supports are formed around the...
Rajandran R
46 sec read

Nifty Sentiment likely to turn Positive?

Nifty Futures is likely to have a short truncated week. And last Saturday's trading session showed a comeback of Bank Nifty despite Nifty Futures...
Rajandran R
31 sec read

One Reply to “Nifty Future Weekly Observation 30-March-2015”

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More