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You are here: Home / Futures and Options / Nifty Future Weekly Outlook 14th September 2014

Nifty Future Weekly Outlook 14th September 2014

September 15, 2014 by Mohit Jhanji 1 Comment

Nifty

 

Nifty Future LTP 8137.85

Technical Update: Nifty future closes the week at 8137.85 after making the high of 8200 for the week. The Friday session however was a positive day. On daily chart the Nifty broken down from a Rising wedge pattern and is making a pullback.

Trend: Short term trend neutral, medium term trend & primary trend are up with strong supports @ 7870

RSI: RSI is trading at 68.61 with upside momentum. There is a clear divergence on RSI which can be visible from chart above price making new high but RSI making lower high hence a cautious approach for longs should be there.

Stochastic: Stochastic indicator is been in over bought zone since April and nifty has rallied 1200 points above after that which shows market has lot of strength and why following indicators alone while going short when overbought can be devastating task. Many traders who enter shorts thinking market is high and overbought have got there account closed or in very big losses.

Volume: The last rally from 7500 to 8200 has been on significantly lower volume’s as seen from chart above.

 


 

Trading Strategy: Short term traders holding longs watch 8125 levels till nifty future remains above this level it’s a buy in dip market hence can hold their longs next resistance around 8200-8240. Only if we break 8125 or sustain and close below this level then exit long and be short with protective stops of 8200 add more shorts below 8070 for price target of 8000 & 7950.

Related Readings and Observations

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  • Nifty Future Weekly Observation 06-April-2015Nifty Future Weekly Observation 06-April-2015 Nifty future opened the week at 8474.75 and made the high of 8645.55 and closed at the higher end of the range at 8633.10. The week was the shortest as there were only three trading days. […]
  • Nifty Future Research Report 18th Aug 2014Nifty Future Research Report 18th Aug 2014 Nifty future closed the week on a positive note on weekly chart. Nifty future closed Friday’s trading session at 7803.70. Nifty future has been consolidating in a sideways horizontal range […]
  • Nifty Future Observation 18 May 2015Nifty Future Observation 18 May 2015 What a volatility, Nifty is making 100 points up and 100 points down move just like that. Nifty closed the session on friday at 8261.20 after making the intraday high of 8296. week ahead […]
  • Nifty Weekly Observation 13 April 2015Nifty Weekly Observation 13 April 2015 Trading with no plan can be devastating for your capital as well as emotions. Nifty future has been steadily moving upwards from last few trading sessions. We have seen a decent recover […]
  • Nifty Future Weekly Observation 30-March-2015Nifty Future Weekly Observation 30-March-2015 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 […]

Filed Under: Futures and Options Tagged With: Nifty, nifty future report, Nifty Future Tips, nifty levels, Nifty Research Report, Nifty Tips

About 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.

Comments

  1. Mohit Jhanji says

    September 16, 2014 at 6:18 pm

    Below 8125 -- Longs Gone For A Toss -- Targets given 8000 & 7950
    Low 7952.50

    Reply

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