Nifty Futures September expiry kick-started with high volatility. Short term quick flip signals turned positive with immediate supports coming around 11655 levels. Price holding above 11715 levels will bring renewed buying pressure. Price holding above 11715 levels has to be watched on the closing basis
Nifty cooled down a bit from the extreme bullish sentiment on wednesday trading which also closed the tuesday gap. Last 30min sell-off turned Nifty to a late spike on the downward. That triggered a sell mode in quick flip strategy with immediate resistance comes around 11727 levels. In a short term 11712 – 11727 needs to be monitored for the continuation of sell signal. As long as price stays below 11727 sell mode holds Nifty Futures.
Nifty Futures On Wednesday trading session opened with good Buyers confidence however profit booking started happening post the first 10minutes of trading activity. Trading range was dull most part of the day except the late buyer’s show off in the last 30min. Overall previous days Extreme bullish confidence maintained for the day.
Quick Flip is an interesting short-term trend following trading system from marketcalls for identifying quick turns in the markets and to take faster trend decisions in identifying the short term support and resistance.
Monday trading session opened with a gap up with high buyers confidence and also it is a trend day in Nifty futures. Buyers confidence remains high until the end of the day. However short-term trading sentiment is getting extremely positive – sort of cautious signs of longs.
Here is the historical PE-Ratio of Bank Nifty. Recently there is a hockey stick growth in PE ratio of Bank Nifty. NIFTY Bank Index comprises of the most liquid and 12 large Indian Banking stocks from the Banking sector. Surprisingly top 3 constituents namely HDFCBANK, ICICIBANK & KOTAK Bank alone contributes to 65% of the weightage.
Last 4 sessions most of the trading activity happens in a tightly packed band between 11540 – 11600 zone which is an interesting reference zone. On Friday quick flip strategy enters into a shorting mode with resistance comes around 11573 levels which where the price is also closed exactly. The quick flip strategy could turn to buy mode if on Monday price opens and sustains above 11562 levels possibly it could target 11620 levels again and possibly higher..
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Bullish Momentum in USDINR Kickstarted during the start of June 2018 and most likely to extend till the Sep 2018. USDINR also tested all-time high 70.89 on 14th Aug 2018. What is really missing compared to the majority of the EM Currencies is that Extreme bullish momentum seems to be missing thus far.
Pharma is an interesting sector to watch out for the rest of the year 2018 as Nifty Pharma Index today touched the psychological reference 10000 levels and also managed to close above 10000 levels which are also fresh 2018 year to date high. Interestingly Weekly sentiment turned positive in the pharma sector that brings more medium-term bullish momentum in this counter. Monthly Sentiment too holding positive for the last two months which brings long-term bullishness in this counter.
E-mini S&P 500 future derivative contract is based on the underlying S&P 500 stock index(US Market). ES-Mini is showing an interesting structural pattern when comes to market profile with trend reversal odds. The structural pattern also reveals the significant risk in holding to the longs as the short term inventory goes long to too long.
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