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You are here: Home / Futures and Options / Nifty Futures Top Down Approach – FEB 2017 Overview

Nifty Futures Top Down Approach – FEB 2017 Overview

February 15, 2017 by Rajandran 1 Comment

Nifty Monthly

Nifty Futures inched up on the higher side for the last two consecutive months and current rally is almost 950 points since Dec 2016. On the monthly charts long term trend up is up.

Nifty Weekly

Nifty Futures on the weekly charts on the weekly timeframe is clearly in a uptrend and one timeframing for the last 4 weeks which shows that intermediate timeframe buyers is in control.

Nifty Daily

However on the daily timeframe consolidation is seen for the last 7 trading sessions. Both Nifty Futures and Bank Nifty Futures are showing an intraday selloff in the first half of the session followed by second half of intraday recovery from the bottom for the last 7 consecutive trading sessions. And moreover Nifty futures is currently at the visual resistance zone @ 8835. so far Nifty Futures is struggling to close above this visual reference level.

Our Take : At this point Nifty Futures is underperforming US Makret and expected to under-perform in the shorter timeframe.

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Filed Under: Futures and Options Tagged With: Nifty, Nifty Futures, Top Down Approach

About Rajandran

Rajandran is a Full time trader and founder of Marketcalls & Co-Founder of Traderscafe, trades mostly using discretionary Trading Concepts like Market Profile, Trading sentimental analysis, building timing models, algorithmic trading models. Instructs professional traders, full time traders & aspiring full time traders. Rajandran attended college in the Chennai where he earned a BE in Electronics and Communications. Rajandran has a broad understanding of trading softwares like Amibroker, Ninjatrader, Esignal, Metastock, Motivewave, Market Analyst(Optuma),Metatrader,Tradingivew,Python and understands individual needs of traders and investors utilizing a wide range of methodologies.

Comments

  1. Amit shah says

    February 20, 2017 at 12:46 am

    Market update msg

    Reply

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