CMP : 4335
Nifty Hourly Charts Indicating a strong downtrend Channel. And this time possibly Nifty may test 4156-4200 levels.
Iam not too much bearish on nifty stocks.Because for me it looks like a well manipulated game by the operators to slide the Nifty well above and outside trendline as shown and to move the market up from there. And Chance of reversal anywhere between 4156-4200 levels should be used as a buy on dips investing strategy.One should be highly bearish only if nifty dips below the trendline.
Till then Nifty remains a pure buy rating.
Related Readings and Observations
Nifty Futures Short Term Overview – January Expiry – Part 2 The context had nothing much changed from the last write up except the market moved from a 100 point range to 200 point range.Volatility is much improved for this week. Nifty Futures […]
NSE to start F&O contracts on CNX PSE Index and CNX Infrastructure Index With reference to SEBI circular SEBI/DNPD/CIR-26/2004/07/16 dated July 16, 2004 and subsequent approval received from SEBI, Futures and Options contracts on CNX PSE Index and CNX […]
Why your NSE Datafeed will not work on Nov 5th and Nov 7th? NSE in its recent circular stated that its is planning to test Live trading sessions from Disaster Recovery (DR) Chennai site. It is noted that the data vendors who are not having […]
Pump and Dump Scheme in Stock Markets Explained “Pump and Dump” could be defined as a form of microcap stock fraud that involves inflating the price of an owned stock artificially by means of misleading statements so as to sell the […]
Nifty Future and Bank Nifty futures – New Year 2015 Overview Nifty continues to be in the sideways mode on the hourly charts and Bank Nifty shows a good amount of trendiness compared to Nifty. Current support zone on the hourly charts comes around […]
What is Stop Hunting? Stop Hunting is generally adopted by stronger players ( in matured stock/commodity markets it could be even driven by algorithms ) either to remove the weaker players from the market, to […]
Leave a Reply