Nifty Futures opened gap up however reverses all its gains in the first hour of trading and ended up with a classical ORR setup with b shape structure (long liquidation). Initial confidence of sellers are dominated in the first half of the session followed by dull boring balancing day in Nifty Futures. Downside pressure is maintained in Bank Nifty index due to resumed PSU Bank selling pressure. Nifty PSU Bank Index is down by 3.49% for the day.
Nifty Futures continued its Fridays sentiment, opened gap up above the previous week high levels with a greater confidence on Mondays Trading Session. Confidence of the buyers maintained throughout the day. On the Daily timeframe Nifty Futures looked below the balance and now back into the balance and filled the balance completely.
Fridays Price action ended with a massive short covering followed by fresh money buying with trading sentiment switches to positive. Open Interest in Nifty Futures is up by 5.19% showing incoming fresh money supply towards the longs. Multiple Price rejections witnessed at 10343 ( strong ORR levels ) on daily timeframe. And moreover price manage to close above previous month low and also above the psychological reference 10500.
Every active stock market investor wants to know: Where are prices headed next? Most will scour the financial headlines, tune into financial television and talk to their broker or financial advisor in hopes of finding the answer. But, alas, this quest for market insight often leaves investors just as uncertain as before.
Will be presenting a webinar on How to use Bell Market Profile Pro (New Features) and how to analyze Nifty and Bank Nifty Futures using Market Profile and how to take advantage of new Market Profile features in Ninjatrader 8 platform.
Both NSE & BSE received approval from SEBI to launch Cross Currency Derivative Pairs EURUSD, GBPUSD, USDJPY. The trade timing in pair currency contracts would be available between 9:00 AM and 7:30 PM.
When markets are surrounded with rumors and fake hoaxes its always good to take a bird eye view to understand the trading competition in a better way. From the EOD charts Strong ORR 10343 levels acting as a strong demand zone on EOD closing basis. Responsive buying came whenever price dipped below 10340 levels and managed to close above/around 10340 levels.
Nifty Futures opened within the range on Monday and managed to break Fridays low in the first 30min of trading and tested 10300 levels post the mid noon. Post testing below 10300 managed to recovered towards the Developing Point of Control. Trading sentiment is negative and value formed lower for the day relative to Fridays trading session. PSU Bank scam sentiment weigh the day, puts more downside pressure on the price.
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Just 4 more trading days left for the February expiry series to come to an end. So far this expiry is brutal to the small cap and midcap investors. Lots of dumb longs got flushed out of the system and some more still pending to get flushed out. Media Channels are fear mongering on banking scams. If your mind is biased it is better to cleanse with top down approach.
Nifty Energy is in a one way street since the start of Sep 2015. Almost 100% return in the Energy index since then. Since mid of Oct 2017 Energy index is consolidating in a broader band of 13750-14670 range. Momentum index is on a continuous decline in the last 4 months indicating lack of interest from the market participants. Lack of momentum inidcates long term serious money is missing in the last 4 months.
Yet another high volatile day in the market with two sided auctions. Price opened above previous day spike and went testing the Thursdays failed auction reference level 10586. Later on price traded in a compressed ontimeframe against the IB direction more of day timeframe players participation with stops built at day high.