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.

Few Bearish Factors for Nifty to Consider

39 sec read


 

After a long time the much awaited Bearish 20 EMA and 5 EMA crossover happened once again in Nifty.Which indicates that markets will be completely in a bearish mood atleast for a week. So any rise in a short term should be used as an oppurtunity to short this market.

20 EMA : 2851
5 EMA : 2850

Rules

If 5EMA>20 EMA ( Sentiment : Bullish)
If 5EMA<20 EMA ( Sentiment : Bearish)


Sensex Chart with Twiggs Money Flow Indicator

Few Negative Factors

1)Twiggs Money indicator for sensex is at resistance
2)India Index ratio(Nifty/Shangai Composite) declines to 1.21 which shows that our index performance is getting weaker when compared to chinese index
3)10 day SMA of TRIN is in rising mode but still not crossed above 1. Crossing above 1 will be bearish once again
4)Daily RSI is near 10 and declining shows selling in action even at oversold levels
5)Bollinger Band Supports for Weekly charts comes near 2550 levels. In short term market are focused towards 2550 levels.

Few Positive Factors

1)Bollinger Band Supports comes near 2630-2670 levels from Daily Charts. Market could take supports on closing basis on near term

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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0 Replies to “Few Bearish Factors for Nifty to Consider”

  1. Currently Chinese index trading near 2257 and the past Indian/Chinese index ratio is near roughly around 1.2 so todays fair value of nifty is 2257* 1.2 = 2708

  2. 100% NimeshAlert Chinese Index falls Nearly 5%Trading near 2206… So not the fair value is2206*1.2 = 2649

  3. Asian markets comparison with their respective October month lows Indices LTP Oct closing low Chg from Oct closing low Closing low date Nikkei 7554 7163 5.5% 27-Oct Straits Times 1632 1600 2.0% 27-Oct Shanghai 2269 1720 31.9% 29-Oct Sensex 9035 8509 6.2% 27-Oct Korea 1111 939 18.3% 24-Oct Hang Seng 12750 11015 15.8% 27-Oct Taiwan 4466 4367 2.3% 27-Oct

  4. Asian markets comparison with their respective October month lows Indices LTP Oct closing low Chg from Oct closing low Closing low date Nikkei 7554 7163 5.5% 27-Oct Straits Times 1632 1600 2.0% 27-Oct Shanghai 2269 1720 31.9% 29-Oct Sensex 9035 8509 6.2% 27-Oct Korea 1111 939 18.3% 24-Oct Hang Seng 12750 11015 15.8% 27-Oct Taiwan 4466 4367 2.3% 27-Oct

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