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.

Why Nifty cant sustain Higher levels next week

33 sec read


 

As per Weekly Charts. Now the gap between the Nifty Spot Price(4448) and Nifty 5 EMA value(3988) is exactly 450 pts. It is already proved in this blog many times that 5 EMA will act as a gravitational force. If the candle shows major deviation from the 5 EMA line then the candle will tends to move towards the 5 EMA line. And As New month is going to start it is worth watching the gap between the 5 EMA Montly(3571) and Spot Price(4448) and the price difference is more than 800 pts such huge gaps are historically proved to be unsustainable. So taking all these factors into consideration,Even a gap up opening on monday(1st Jun 2009) will be unsustainable regardless of the fundamental news….. What Ever it may be.


All we need at this point of time is a cooling process just a timewise correction without that we cant trend higher further.

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.

Nifty and BankNifty 90 min charts update for 16th…

Nifty turns to sell mode on 90 min charts with trailing resistance coming near to the 5500. Similarly Bank Nifty too in sell mode...
Rajandran R
10 sec read

Nifty and BankNifty 90 min charts update for 15th…

Nifty turns to buy mode with cloud supports coming near to 5460-5470 zone. And Bank Nifty still in sell mode with resistance near 10900....
Rajandran R
8 sec read

Nifty Week End Review

Nifty week end review on daily and 90 min timeframe and Nifty Option Details
Rajandran R
32 sec read

0 Replies to “Why Nifty cant sustain Higher levels next week”

Leave a Reply

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